Riiight, âRussia has just wiped out the dollarâs clout from the world marketsâ
No. These things never happen overnight (unlike Nixon closing the gold window).
Itâll be slow and drawn out. Most of 2nd-tier and 3rd-tier countries will worry about their USD reserves if they ever get caught ânot toeing the lineâ, and likely diversify elsewhere.
Saudi Arabia already looking into selling oil in non-USD.
Did you see the BRICS meeting a day or so again? Theyâre all onboard with finding a way to reduce risk from USD-dominatant financial system.
the US dollar is now worthless. I am now buying pesos.
The MSM lies?
Never.
https://twitter.com/RealScottRitter/status/1509487980599291911?cxt=HHwWjsC9xcPU4_IpAAAA
https://twitter.com/RealScottRitter/status/1509489101837324291
Counter-Quatrain?
NLAW
Slap The Bears Paw
From the First Floor
Nervous FO SHO
Hence too Quick On The Draw
Sound and Fury Galore
But No Score
Dont use blanks
When you tangle with tanks
If you hope
To do
Bloody Biz
After all
It ainât hardly
Rocket Science
Excepting
Inasmuch
As it is.
Came back to check out the Ukraine thread and itâs turned into a poetry slamâŚ
Thatâs doesnât look too good for Zâs chances of winning anything, much less some other problems around the world.
From the Breitbart article:
Camarillo blamed a âvery tight labor marketâ for the Armyâs recruiting woes.
âWhat weâre just seeing is given the particular conditions of a very tight labor market, our ability to meet all of our projected recruiting goals were a little bit challenged in FY â22 and FY â23,â he said.
IOTW, the economyâs too good, so the Army isnât offering high enough wages to compete. Sounds like a disaster.
Facebook failed to label 80% of articles on its platform promoting a fast-spreading conspiracy theory that the US is funding the use of bioweapons in Ukraine, according to a study released Friday by the Center for Countering Digital Hate (CCDH).
The nonprofit disinformation research group studied a sample of posts from between 24 February and 14 March sharing external articles containing baseless claims about bioweapons. It found Facebook in 80% of cases failed to label posts as either âmissing contextâ, containing âpartly false informationâ or âfalse informationâ outright.
Explains a lot.
CEO of Germanyâs multinational BASF SE, the worldâs largest chemical producer, has warned that curbing or cutting off energy imports from Russia would bring into doubt the continued existence of small and medium-sized energy companies, and further would likely spiral Germany into its most âcatastrophicâ economic crisis going back to the end of World War 2.
Company CEO Martin Brudermuller issued the words in an interview with Frankfurter Allgemeine newspaper just ahead of German officials by midweek giving an âearly warningâ to industries and the population of possible natural gas shortages, as Russia appears ready to firmly hold to Putinâs recent declaration that âunfriendly countriesâ must settle energy payments in rubles, related to the Ukraine crisis and resultant Western sanctions.
According to Bloomberg he mused that while âGermany could be independent from Russia gas in four to five yearsâ it remains that âLNG imports cannot be increased quickly enough to replace all Russian gas flows in the short term.â
No worries, just find some rubles. Canât be that hard.
Or maybe turn over some of that German gold that your nation tried to get out of NY.
Rubleâs value is now completely arbitrary. There is practically no dealing between foreign currencies and ruble. The only reason itâs looking better on paper is because Russians now canât buy foreign currencies at all. Itâs the same with Iran. There are now two exchange rates.
So much in the article beside the ruble trade.
Rickards has own wiki page.
He was counsel (not part of investment team, just counsel) for LTCM, who took the wrong bet on Russian bonds, but then got saved by the Fed and U.S. investment banks, except for Lehman Brothers who didnât participate in saving LTCM.
Hence, when Lehman Brothers was about to blow up during 2008, Wall Street didnât save LB. But, you probably already know that.
The answer is that the only way for Europe to get rubles quickly is to buy them from the Central Bank of Russia using dollars. Under Putinâs plan, Russia still gets the dollars, still sells oil and natural gas but he has the added benefit of making rubles stronger because Europe has to buy them to pay for the energy exports.
He can exchange the Dollars and Euros in Rubles, he gets a good exchange rate.
Well we need a mental break from all the doom and gloom
The orchestra played as the titanic went down ya know
The spring lambs are brought to the slaughterhouse. No one is going to believe they wonât go to Ukraine.
At 20% key interest rate, yeah thatâs a strong currency.
Nobody knows what you are talking about dude.