Our housing market AAA low risk mortgages really impacted a lot of countries. We have let unfair trade practices go on for years. Now we finely do something and they are setting up BRICS on a gold standard. Hard to beat a gold standard. One thing for sure is times are changing and we aren't the driving force anymore.
BRICS To Replace US Dollar With Cryptocurrency for Trade
China Dumps The Largest US Treasuries in History
BRICS member China dumped $53.3 billion worth of US treasuries and agency debt bonds during the first quarter of 2024.
watcher.guru
The USA has the US dollar.
Oil is sold in Dollars, most international trade involves a Dollar...
This is because of the post war way things went and the US dollar was seen as honest.
And its was an economic and political sledge hammer used to steer the world PAX Americana
To this day I think there is more US money in other countries than there is IN the USA.
Because even if you are in an unfriendly country to the USA or you have an axe to grind with the USA a dollar is still fair and it still the currencey to use for trade.
( backed by guns and oil, so who needs gold? )
That's unlikely to change very soon if ever
BRICS.
Brazil is the country of tomorow.
They keep saying that but as long as they keep running the country that way it always will be the future they are waiting for .
Russia.
YA Russia, give me a bowel of beet soup and promises.... and as long as you pretend to pay me I will pretend to work
India
The worlds most populis basket case...
China
The worlds sweat shops.
South Africa
Thank God they don't have the Bomb...
At least Bota had the good sense to burn the plans...
I'm going to add The pound sterling was king until the British empire went broke fighting wars.
I live in a world defined by that.
Things Change but they don;t change as fast as Russia and China might like without good reason to change.
Since day one of the Russian invasion of Ukraine I have said we should be dumping the best weapons and as much support as we can into their country.
They are fighting for the values and traditions we share.
Take a hard look at the BRICs.
Do they look like places you want to live in as a working class man with car and a house as your dream?
Stripped of cheap labour or buckets of resources are these governments trying to create modern liberal democracies or are they trying to create some sort of Oligarchical collectivist fiefdoms...
And I am not an American and blind to history
Someday they might, and should, build a monument to the victims of capitalism ( right next door to the smaller victims of communism memorial )
Enjoy your fruit...
it was bought and paid for in blood and US dollars.
How a sitting, elected national government found itself in the position of having to buy its own country.
www.thenation.com