Mbeki says countries raising debate on use of US dollar

rambo919 said:
Yet another example of why no one takes your accusations seriously, you are never not unreasonable.
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you are the one accusing me of frothing at the moment, not the other way round, keep projecting
 
If dollars are used then couch dollars are less of a problem if uncovered. This is why the cadres now want to normalize the $.
 
All I know is that the two respective ‘world orders’ shouldn’t become isolated. I don’t think any person caught in-between wants to be slapped with embargoes and other restrictions. This planted we live on, the globe, is being parcelled. Somewhere an order between these two 'world orders' has to be restored whether it is even historically possible. This is much larger than the US Dollar, but the US Dollar represents something that others do not agree with and may include those in any order, but that is simple geopolitics at play. There can only be one super.
 
I do see an opportunity where BRICS could develop a tokenised digital currency, and no, not crypto per se, but similar to that within traditional banking. The New Development Bank, per example, could play its role in providing such instruments. This would allow ordinary people to use those tokens in the economy or any other opportunity really. It could also help to reduce corruption unless the banks, the auditors and the watchdogs themselves are involved, and some would still like to stash their cash in the couch, but it is viable, and the West could purchase tokens too. Just an idea.
 
BRICS GDP has overtaken the G7's GDP.
By 2030 the BRICS trade will be 50% of world GDP.
 

China completes first yuan-settled LNG trade​

BEIJING, March 28 (Reuters) - Chinese national oil company CNOOC 0883.HK, 600938.SS and France's TotalEnergies TTEF.PA have completed China's first yuan-settled LNG trade through the Shanghai Petroleum and Natural Gas Exchange, the exchange said on Tuesday.

Approximately 65,000 tonnes of LNG imported from the UAE changed hands in the trade, it said in a statement.

TotalEnergies confirmed to Reuters that the transaction involved LNG imported from the UAE but did not comment further.

CNOOC did not immediately respond to a request for comment.

China has placed an emphasis on settling oil and gas trades in yuan in recent years in a bid to establish its currency internationally and to weaken the dollar's grip on world trade.

Russia has increasingly embraced the yuan amid Western sanctions.
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America is an empire in decline.
Hope it doesnt collapse all at once...
 
www.businesslive.co.za

Saudi Arabia to join Shanghai Co-operation Organisation as ties with Beijing grow

The SCO is a political, security and trade alliance that includes China, Russia, India and Pakistan
www.businesslive.co.za www.businesslive.co.za

Saudi Arabia to join Shanghai Co-operation Organisation as ties with Beijing grow​

The SCO is a political, security and trade alliance that includes China, Russia, India and Pakistan​


Riyadh — Saudi Arabia’s cabinet has approved a decision to join the Shanghai Co-operation Organisation, as Riyadh builds its partnership with China despite US security concerns.

Saudi Arabia has approved a memorandum on granting the kingdom the status of a dialogue partner in the Shanghai Co-operation Organisation (SCO), state news agency SPA said.

The SCO is a political, security and trade alliance of countries spanning much of Eurasia, and lists China, Russia, India, Pakistan and four other central Asian nations as members.
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US Dollar pains.
 
Blue said:
America is an empire in decline.
Hope it doesnt collapse all at once...
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Yes the typical signs are there(1992+ type of signs), however the US still has large number of ground and lots of water in there favour, although most of their mountains looks like swiss cheese or the Alps inside.
I think a lot of good people in US are getting worried.
See "Streets of Philidelpia" on Youtube.......Its a shame for a 1st world country.
 
Fulcrum29 said:
I do see an opportunity where BRICS could develop a tokenised digital currency, and no, not crypto per se, but similar to that within traditional banking. The New Development Bank, per example, could play its role in providing such instruments. This would allow ordinary people to use those tokens in the economy or any other opportunity really. It could also help to reduce corruption unless the banks, the auditors and the watchdogs themselves are involved, and some would still like to stash their cash in the couch, but it is viable, and the West could purchase tokens too. Just an idea.
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Fiat currency is already a token currency based on confidence only.
 
Why because rand loosing against dollar each and every day!!!
 
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