Posted on 03/25/2023 4:47:43 AM PDT by FarCenter
Just ask the question: Who owns a ton of mortgage backed securities? And what has happen to the value of them?
The answer is the Fed. And they have fallen in value. If the Fed needed to “mark to market” we would be screwed.
Oh, this is much bigger than Soros. Much, much bigger.
The author is an American who has been warning us about China for at least two decades. As a practicing Jew, he is extremely pro-Israel, and his bias shows there. He is a patriotic American, as is obvious in all his writing. Look him up.
BTW, he was a big Trump supporter from early on.
Whoever wrote this didn’t mince words and every darn word is true.
more Commie Chinese propaganda from the laughable “Asia Times”
BRICS nations are dictatorial thugs that manipulate their stats (Russia, China, Iran, Cuba) or incompetentent freeloaders (most of Africa)
nobody is going to trust these countries more with their money than the US or other Western countries
BRICS is going nowhere, because its member countries aren’t trustworthy ... book it
“The big secret is that pony been dead for a while”
Except it isn’t at all. 90% of international trade last year was in dollars. Same as it has been for 70 years.
Doomers like Goldman have been predicting its collapse for decades now, and have been wrong every time.
Maybe it will someday, but there are zero actual indications of that so far.
No one trusts the US either…..
Parity with the other currencies is $100.
In the last 40 years, the USD has traded below $102.78 ninety percent of the time.
The claim that international businesses are going to start switching to the Chinese Communist Party Renminbi (aka Yuan) is not serious.
International business will trade in Bitcoin before it trades in the Renminbi.
Yes, I think so. China using Asia Times to telegraph it’s agenda.
AT is not Chinese propaganda. I have been reading it for over 20 years. Also see my posts #23 and #24 on this thread re the author. He also writes for American Greatness, PJ Media, Claremont Review, and a number of other conservative outlets. And check out his books — hardly Chinese-friendly.
—> So what does that leave as a possible global currency? Japan’s Yen? Britain’s Pound?
The Yuan at first to settle trade among larger BRIC nations (already started), and then a negotiated basket of currencies/commodity based currency as BRICS expands.
The swift system will have an alternative, banking will have other options, currency will have other options.
All because the USA and western nations have weaponized the financial system.
An acquaintance who works in finance in a major SE Asian financial hub (not China, you can probably guess the country) explained to me early on how SEA countries dependent on Russian oil (and some other) imports were getting around SWIFT and sanctions: the Chinese set up a series of banks to process payments in RMB. He said that use of SWIFT and sanctions to try to stop trade with Russia had accelerated the erosion of the dollar as reserve currency, and this was a slow process that was already underway, and that while the process was accelerated, it would hardly happen quickly.
His stance is that “market forces will find a way” — and that “weaponizing” (as you put it) SWIFT and the dollar has eroded trust and caused non-Western countries to be leery of complete dependence on them, hence seeking alternatives. Again, he stressed this won’t happen overnight, and seemed to be looking at least a decade or so out.
Wrong. See my other posts on this thread.
—> He said that use of SWIFT and sanctions to try to stop trade with Russia had accelerated the erosion of the dollar as reserve currency, and this was a slow process that was already underway, and that while the process was accelerated, it would hardly happen quickly.
“By 2032”
What's worse, we sent many of those high paying tech jobs out of the country, so they won't even be able to pay back their own debts, much less ours.
And then we can't figure out why they're dying their hair blue and rioting all over the country.
He did not claim they would switch over to RMB. Read the article to the end.
“ The story of the de-dollarization of the world’s commerce is underlying the current developments, and the media are assiduously working to keep the story from the American public. Meanwhile, BRICS nations are openly talking about a future gold backed cbdc which would spell the end of the dollar as the world reserve currency. This will result in catastrophic inflation. It looks increasingly like the gold bugs are finally right, physical precious metals may soon become the only refuge for the average man.“
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That basically sums it up! 👍
Curious, how so, if everything is ‘digital’?
Most important post on FR today.
The US is headed to economic collapse. Get ready.
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