BRICS admits Saudi Arabia, Iran, UAE, several other nations.

[Moonbox]

4 hours ago, sharkman said:

OPEC isn’t doing it this time.

Saudi Arabia is OPEC's most important member.  Russia has been cooperating with them for decades on rigging oil prices.    

4 hours ago, sharkman said:

Everyone in BRICS despises the US.

Nope, lol. 

4 hours ago, sharkman said:

-Get back to me when you can evaluate current events.

Go review how much the BRICS (barring Russia) trade with the US, vs amongst each other.  Once again you're hilariously uninformed - a twitter zombie parroting whatever's showing up on your feed lately.  Michael Burry Michael Burry.  Dumb.  

[sharkman]

Moonbox seems unaware that Saudi Arabia and the US had an oil treaty for fifty years.  So the Saudis would threaten and play act and make noise, but they were basically America’s b-I-t-c-h.  In turn they received protection and other favourable items.

But that oil deal ended in 2022, and the US walked away from the Saudis because with Biden in power, they think they can wean themselves off of oil by way of the electric car, etc.  Dirty energy(lithium mined in third world countries and said batteries charged by nuke and other dirty power) and all.

So China and BRICS came calling and now Saudi Arabia is a member and no longer has the best interests of the US in mind.  I shouldn’t have to point this out, but since the legacy media pays so little attention to anything that goes against the official narrative, folks like moonboy are clueless and blame Twitter. 

Don't look now, but oil is up another $4/barrel.  And Biden already drained the national oil reserves down to unsafe levels. Weird, eh?

[Moonbox]

23 hours ago, sharkman said:

So China and BRICS came calling and now Saudi Arabia is a member and no longer has the best interests of the US in mind.  I shouldn’t have to point this out, but since the legacy media pays so little attention to anything that goes against the official narrative, folks like moonboy are clueless and blame Twitter. 

Saudi Arabia never had the best interests of the US in mind.  This is a fundamentalist theocracy - based on Islamic Law.  Security for keeping the oil flowing was never more than a mutually beneficial arrangement.  

The media does pay attention to Saudi Arabian developments and its worsening relationship with the US.  It reports on it regularly and 5 second google search would offer you dozens of articles on it from every major US newspaper. 

You would know that if you didn't get all of your news off of Twitter and you actually knew anything about the world beyond that.  ?

[sharkman]

Finding a news story with google does not mean anything.  When you can finally start to use critical thinking you will understand this.  

[Aristides]

I don't use legacy media therefore it never reports anything.

[Moonbox]

22 hours ago, sharkman said:

Finding a news story with google does not mean anything.  When you can finally start to use critical thinking you will understand this.  

Finding the news stories you said that media wasn’t reporting means that you have proven once again how much of a twitter zombie you are - repeating whatever shows up on your feed without actually critically thinking or checking it.  Dumb dumb dumb.  

[sharkman]

3 hours ago, Moonbox said:

Finding the news stories you said that media wasn’t reporting means that you have proven once again how much of a twitter zombie you are - repeating whatever shows up on your feed without actually critically thinking or checking it.  Dumb dumb dumb.  

You are doing EXACTLY what you accuse me of, you hypocrite.  Hopefully any investments you have are in the hands of banking/investing professionals because your instincts are bush league.

[Moonbox]

41 minutes ago, sharkman said:

You are doing EXACTLY what you accuse me of, you hypocrite.  Hopefully any investments you have are in the hands of banking/investing professionals because your instincts are bush league.

No, goof.  I'm accusing you of saying that the news media wasn't paying any attention to this, when they've been reporting on it extensively.  

Aristides summed up your delusions nicely in his quote above. 

As for my investments, I am an investment professional.  That's why your buffoon-takes on global economics are so cringe to me.  You know almost literally nothing about these issues and it's painfully clear you're just reposting headlines you scrape off all of your Doom subs.  ?

[sharkman]

1 hour ago, Moonbox said:

No, goof.  I'm accusing you of saying that the news media wasn't paying any attention to this, when they've been reporting on it extensively.  

Aristides summed up your delusions nicely in his quote above. 

As for my investments, I am an investment professional.  That's why your buffoon-takes on global economics are so cringe to me.  You know almost literally nothing about these issues and it's painfully clear you're just reposting headlines you scrape off all of your Doom subs.  ?

I couldn’t have hoped for a better response.  Quoted for the jaw dropping impact.  Thank you for this!

[sharkman]

And here’s another major hit on the US dollar.  15 BRICS members are in the process of halting the use of the Yankee buck for oil settlements.  
 

https://watcher.guru/news/brics-15-countries-to-ditch-us-dollar-for-oil-trade#:~:text=India and the UAE already,for oil and gas trade.

“The new BRICS members are laying the foundation for the de-dollarization initiatives. India and the UAE already settled oil trade in local currencies in September this year. The move was a historic landmark shifting away from the US dollar for oil and gas trade. India paid its local currency, the Rupee, to settle 1 million barrels of oil with the UAE.”

…

“New BRICS member, The United Arab Emirates (UAE) is looking to settle oil payments in local currencies and sideline the US dollar. The UAE is looking for potential countries that would like to settle payments in local currencies like the Dirham. Recent reports indicate that the UAE is looking to renew oil and gas trade agreements with 15 countries that are willing to pay local currencies for settlement.“

[WestCanMan]

On 8/24/2023 at 9:51 PM, sharkman said:

 Did you notice how many heavy hitters there are in annual oil production?  That’s gotta be 2/3 of the global oil reserves right there.  And they are forming an alliance.  For some specific reason.  

But their gov'ts aren't at war against their own energy sectors, like ours is in Canada. The PMO hates oil, natural gas and coal.

We are "winning" ?, Biden/Trudeau style...

[WestCanMan]

On 11/30/2023 at 10:41 AM, sharkman said:

And here’s another major hit on the US dollar.  15 BRICS members are in the process of halting the use of the Yankee buck for oil settlements.  

China and Saudi started working on that almost as soon as Biden was elected.

Leftard media is doing an amazing job of keeping their viewers in the dark about all of the damage that the Biden administration has done to the US. It's crazy how far the US has spiralled in just 3 years, but Biden's followers honestly think that this is a golden age.

I'd say that they deserve what they have coming to them if they manage to elect the next polished turd, but the sad thing is that it's future generations who will really bear the brunt of Biden's follies. 

[sharkman]

12 minutes ago, WestCanMan said:

China and Saudi started working on that almost as soon as Biden was elected.

Leftard media is doing an amazing job of keeping their viewers in the dark about all of the damage that the Biden administration has done to the US. It's crazy how far the US has spiralled in just 3 years, but Biden's followers honestly think that this is a golden age.

I'd say that they deserve what they have coming to them if they manage to elect the next polished turd, but the sad thing is that it's future generations who will really bear the brunt of Biden's follies. 

All of these moves away from using the US dollar are making it unneeded.  As these individual nations quietly sell off these dollars a glut of them will harm the value of USD.  Little by little, week by week.  Until it tanks all of a sudden, at which point the MSM will notice it for the first time.  The ICE US Dollar Index shows that it's started dropping since early November.

You will find this discussion fascinating...

 

[sharkman]

Iran and Russia officially ditch the US dollar for all trade, putting an exclamation point on BRICS nations moving away from the US dollar.  When will it start to affect USD value?  It already has, dropping in absolute value for most of December.

https://oilprice.com/Latest-Energy-News/World-News/Russia-Iran-Officially-Ditch-US-Dollar-for-Trade.html

Back in 2019, Putin declared that time was ripe to review the dollar’s role in trade. At that time, Russia and China considered switching to the euro, the world’s second most dominant currency, as an acceptable stalemate, with the ultimate goal being to use their own currencies. 

"Earlier in the current year, Russia paid dividends from the Sakhalin 1 and 2 oil projects in Chinese yuan instead of the dollar. Last year, Russia was cut off from the US dollar-dominated global payments systems following sweeping sanctions off the Ukraine war. 

Russia has declared it will no longer accept the American currency as payment for its energy commodities but will instead switch to Chinese and Emirati currencies."

 

Russia and China have developed their own non Swift(do you know what that is?) interbank money transfer system.  One by one and month by month, more trading among BRICS(which has a reported 40% of global GDP) is being done outside of the world's reserve currency.  There will be a tipping point, unless this becomes a hot war.

The linked story claims that this de-dollarization move has borne little fruit, and these nations carry much of their debt in USD.  Fair enough, but to assume that this move will never affect the US dollar would be beyond naive.  The dollar has been dropping since early December.  We are in the middle of a war.  An economic war that no one is reporting on so you have no idea about it.  Who will win?  Will this affect your purchasing power?  Can the banks now confiscate some of your savings if they become insolvent?   

[Moonbox]

4 hours ago, sharkman said:

Iran and Russia officially ditch the US dollar for all trade, putting an exclamation point on BRICS nations moving away from the US dollar.  When will it start to affect USD value?  It already has, dropping in absolute value for most of December.

So...the news here is that Russia and Iran have announced that they're not participating from the USD trading/banking that they've already been banned/restricted from?  WOW!

Have you ever looked up how much of the global trade economy is made up by Russia and Iran?  It's tiny.  

Can't wait for the next episode of doom-porn.  🤡

[sharkman]

7 hours ago, Moonbox said:

So...the news here is that Russia and Iran have announced that they're not participating from the USD trading/banking that they've already been banned/restricted from?  WOW!

Have you ever looked up how much of the global trade economy is made up by Russia and Iran?  It's tiny.  

Can't wait for the next episode of doom-porn.  🤡

Uh huh.  Stay tuned...apparently you are unaware of the billions in USD that Biden gave Iran in 2023.  Weird, eh?

Edited January 1 by sharkman

[Aristides]

11 hours ago, sharkman said:

Uh huh.  Stay tuned...apparently you are unaware of the billions in USD that Biden gave Iran in 2023.  Weird, eh?

What billions? The US released some of Iran's own assets that were frozen, the US didn't give them anything.

[Legato]

2 hours ago, Aristides said:

What billions? The US released some of Iran's own assets that were frozen, the US didn't give them anything.

True, but not a good move.

[Moonbox]

14 hours ago, sharkman said:

Uh huh.  Stay tuned...apparently you are unaware of the billions in USD that Biden gave Iran in 2023.  Weird, eh?

Yep yep, stay tuned - heard that from you before.  🤡

[sharkman]

3 hours ago, Aristides said:

What billions? The US released some of Iran's own assets that were frozen, the US didn't give them anything.

Okay, lets explore this.  Iran, according to moonbox, is under various trade restrictions and embargoes due to their continued behavior.  Or perhaps you could fill in why exactly they are under such restrictions.

In the middle of these restrictions, the US releases billions of dollars worth of Iran's assets.  Now, what does that look like to you? 

https://www.wispolitics.com/2023/u-s-rep-steil-demands-answers-from-president-biden-for-allowing-iran-access-to-an-additional-10-billion/

Congressman Bryan Steil (WI-01) today demanded answers from President Biden as to why his administration allowed Iran access to an additional $10 billion worth of previously restricted funds. The timing of the sanctions waiver is especially concerning due to the recent attacks on U.S. military bases in the Middle East by Iranian-backed terrorist proxies...

[sharkman]

India signs an agreement with another BRICS member to trade in rupees instead of dollars.  The UAE, to be specific.

https://www.reuters.com/world/india-ties-up-with-uae-settle-trade-rupees-2023-07-15/

"The two agreements will enable "seamless cross-border transactions and payments, and foster greater economic cooperation", said a statement from the Reserve Bank of India on Saturday.

India, the world's third biggest oil importer and consumer and whose central bank last year announced a framework for settling global trade in rupees, currently pays for UAE oil in dollars.

Bilateral trade between the two countries was $84.5 billion in the year from April 2022 to March 2023."

[sharkman]

And here's a couple more, just for moonbox.  15 BRICS nations signed agreements to ditch the US dollar.

https://watcher.guru/news/brics-15-countries-to-ditch-us-dollar-for-oil-trade#:~:text=India and the UAE already,for oil and gas trade.

The new BRICS members are laying the foundation for the de-dollarization initiatives. India and the UAE already settled oil trade in local currencies in September this year. The move was a historic landmark shifting away from the US dollar for oil and gas trade. India paid its local currency, the Rupee, to settle 1 million barrels of oil with the UAE.

Additionally, Saudi Arabia also confirmed that the Kingdom is open to accepting local currencies for oil. The development threatens the existence of the US dollar as developing countries can now opt for local currencies instead. BRICS looks to uproot the US dollar’s dominance in the oil sector and replace it with their respective local currencies

 

https://watcher.guru/news/10-u-s-sectors-to-be-affected-if-brics-stops-using-the-dollar

The BRICS summit ended on a high note in August after the bloc inducted six new countries into the group. Leading oil-producing nations Saudi Arabia, the UAE, Egypt, Iran, and Ethiopia will join the alliance in January 2024. Also, Argentina is the only new BRICS member that does not produce and export oil. The one common thing between the 11-member BRICS group is their disdain for the U.S. dollar. Moreover, BRICS is looking to end dependency on the U.S. dollar by promoting their local currencies for cross-border transactions.

 

 

 

 

 

[Moonbox]

Did you even realize that this site you're referencing is a cryptocurrency shill site, and that convincing dumb people that the USD is doomed so they lose their money investing in zero-sum ponzis is the whole point?

Of course you didn't.  

[sharkman]

Nonsense, but don’t let that stop you.  

[sharkman]

On 1/2/2024 at 10:43 AM, Moonbox said:

Did you even realize that this site you're referencing is a cryptocurrency shill site, and that convincing dumb people that the USD is doomed so they lose their money investing in zero-sum ponzis is the whole point?

Of course you didn't.  

Morgan Stanley.  You've heard of them?  They just downgraded their outlook for the US dollar, which further illustrates that the Yankee buck is weakening.  I'm not sure why you're so unaware of what's been happening for the last 2+ years, but whatever.  When the US dollar finally tanks due to things like their national debt and the over trillion dollar interest payments, then I guess you'll get what you get when the markets tank too.  At least you could have followed Warren Buffet's lead who started pulling his money out of the DOW last spring and has 140 billion sitting on the sidelines, waiting for something.  But I guess you're smarter than Warren Buffet.

 

https://watcher.guru/news/brics-morgan-stanley-downgrades-the-u-s-dollar

Multinational investment bank Morgan Stanley downgraded the outlook for the U.S. dollar from ‘Bullish’ to ‘Neutral’ on Friday. The global bank cited that the Federal Reserve initiating interest rate cuts led to the decline of U.S. Treasury yields. Morgan Stanley’s outlook for the U.S. dollar is now officially ‘Neutral’ and downgraded from its previous stance of ‘Bullish’. The downgrade comes at a time when the BRICS alliance is advancing to uproot the U.S. dollar’s global supremacy.