BRICS to reduce dollar dependence

Debt is not a bad thing, as long as servicing it is feasible/profitable.
:D :D :D

sure, as the debtee, it is not a bad thing. ;)

US$ is a product to export all over the world. the fools are using their valuable products to exchange the worthless paper. if the position of the world reserve currency was lost, US will die immediately.

If you were to increase tax in order to pay back all the debt quickly, you'd stop it from being invested back into the economy/slowing down growth, which is why the debt was taken in the first place.

you mentioned about "increase taxes" to solve the problem, but it won't, the taxes are not enough to cover the interests and the expenses of the current leftist government. it will only create more job losses and loss of tax revenue. that is.
 
if the position of the world reserve currency was lost, US will die immediately.
Not really.
Nearly 90% of the US economy is purely internal. They're by far the least dependant on international trade (ie imports and exports) of any of the world's 20 largest economies. China, on the other hand, would crumble in 6 months if the US market was closed off to them.
 
Not really.
Nearly 90% of the US economy is purely internal. They're by far the least dependant on international trade (ie imports and exports) of any of the world's 20 largest economies. China, on the other hand, would crumble in 6 months if the US market was closed off to them.

basically all international trading activities are using USD. got it? ==> $14 trillion (national) vs $25 trillion (world trade).
(didn't count the countries with reserve in USD)

don't forget domestic trading activities are also highly relying on international trading nowadays.
 
basically all international trading activities are using USD. got it? ==> $14 trillion (national) vs $25 trillion (world trade).
(didn't count the countries with reserve in USD)

don't forget domestic trading activities are also highly relying on international trading nowadays.
Er, not sure what you're getting at.

Peter Zeihan explains a few basics of power, and why nothing else is even remotely in prospect, and why losing reserve currency status would hurt the US less than everyone else.

 
It's not really communism. If they're communist then so are we...

Socially it's a police state, economically I'd call it state capitalism.

Private business thrives, so long as you work with the government. They will even help you attain a monopoly. There is very much a rich elite, but they are tied in with the government.

It is a lot like Germany in the 30s and 40s. They also ''hated'' capitalism, but industrialists thrived and attained huge wealth, just as long as they done what the government wanted them to do.
 
Er, not sure what you're getting at.

Peter Zeihan explains a few basics of power, and why nothing else is even remotely in prospect, and why losing reserve currency status would hurt the US less than everyone else.

that is funny, everyone says if US loses reserve currency status then the US will die, you can find thousands of articles to explain why even imf and world bank, but this guy said imf and world bank is wrong, rubbishing every person but after I watched I really don't understand what he is talking about. but whatever, that is your opinion if you want to believe his BS. ok. :)
 
Dream on.
Replacing the USD has been a longtime fantasy of many wannabe's. Ask the Europeans how their Euro hopes have fared. Nothing else is even remotely in prospect.
 
China will never, ever, reduce Dollar or any other Western currency dependence. Neither will it even consider reducing it. This will be a small fraction within the BRICS group, like South Africa and Russia that will do it to their own detriment. China's success is way, way too much dependent on the West and it will not estrange itself like this small fraction does. This is how China will always ensure that it remains the dominant leader in the BRICS grouping.
 
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