Posted on 09/12/2023 7:25:41 PM PDT by Gunslingr3
There is a means to get away from the dollar but no one wants to embrace it, Gold.
Haha - good luck with that, the Euros are heavier-handed with the sanctions than the US.
The EU hasn’t seized central bank assets or excluded from SWIFT.
The US is in a class by itself with this stuff, and that is why they are looking for an alternative to the dollar.
“But why doesn’t Russia trade in the Euro with India now?”
Because the Indian currency is a blocked currency. And India wants to keep it this way. The Indian Rupee is blocked. Meaning that the billions of dollars worth of Rupees, that Russia has accumulated, can only be spent in India for Indian made products. Agricultural included. India makes automobiles and farm tractors that Rooooskies could be buying.
I am fairly sure that the USA has the juice to demand that our India trade is done in US Dollars.
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“U.S. is still a major manufacturer, that manufactures more value than ever before”
COVID vaccine 2020 - $20
COVID vaccine 2023 - $120
I don’t think they are as aligned as you seem to think. They certainly suggest otherwise:
Russia has also expressed interest in building an alternative payment mechanism with other BRICS (Brazil, Russia, India, China and South Africa) nations. But in July, India's foreign minister Jaishankar said "there is no idea of a BRICS currency."
There are drawbacks to shipping gold bars to pay for every major trade. And for a currency backed by gold some trusted country has to hold the gold and promise to deliver it if asked. At present the only country that could fill that role isn’t Russia, China, India, or Brazil, it is Switzerland.
“There are drawbacks to shipping gold bars to pay for every major trade. “
No one does that. They simple move gold from one country’s vault to another. We do that.
And in what country will these gold vaults reside? Again, only Switzerland qualifies.
We do that. <- I said that already.
You mean Russia and China will keep their gold in the USA? That seems quite unlikely, so you are not making sense.
Don’t believe everything you think.
You completely missed my point. In gold exchange it is rare to actually move gold between countries. It is simply moved between storage locations in vaults. We have been doing that for decades. BRICS will too.
Trying to make the transactions between Russia and India about the US$ verges on journo malpractice.
Unmentioned is the real outcome of the transaction.
India is refining the Russian crude and then selling it as gasoline and diesel fuel. Those international transactions are most certainly made in US$’s
And, the coming hurricane puts the gold storage/movement process in jeopardy.
The Federal Reserve gold storage vaults are in New York City, below sea level. A hurricane driven tidal surge pushing the ocean into the lower (as in just barely above sea level) Manhattan streets will flood the gold vaults
So, do you think they’ll detect a sneaky diver? Just askin’.
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