Brics .....

[furrowtickler]

https://youtu.be/dFjKvLp9I7c

Things are changing fast.
Time will tell how this effects grain marketing in the coming years for North America. Its no longer a pipe dream or conspiracy theory , its taking place. Just something to keep an eye on , cause its real and its happening regardless . A lot of countries want nothing to do with the WEF and to be honest the UN 2030 plan and are done with the US dollar running the show. Good or bad its happening.
The WEF dream of one world government was never going to happen from day one.

[jazz]

When the brics back their currency with gold, oil and wheat, (and the US is forced to do the same), and all those dollars around the globe find their way back to the US, it will cause rampant inflation. And a resource rich nation like Canada will ride that including farmers. Your land and stored grain might double in the bin. Alberta, Sask might become insanely wealth on paper.

The WEF and Deep state scumbags just torpedoed their reserve currency just to get trump out and try to keep the Bidens grift in Ukraine going.

Not sure how the military is going to force 5B people to use the greenback. Not sure where this insitance on trading in USD comes from. In transactions, the vendor always determines the medium of payment.

But the best thing of all is watching the climate cult die on the vine during this.

[WiltonRanch]

The wef a whatever UN agenda the boosters want us to take up I hope are exposed for what they truly are. Far as brics and the machinations of subverting the dollar hegemony is a quaint idea and concept for nations who feel Uncle Sam has a foot on their throat. However, the reason the dollar is standard for so many commodities and the basis of trade is the stability of the dollar and sheer size of the American economy. When brics members can prove to offer a stable currency irrespective of the fact most members hate one another and aren’t terribly democratic or follow the rule of law. They gotta get their own shit together and prove they can function without the dollar or the American economy. They can back their currency by gold or seashells for all I care but the mechanism to establish value needs an element of trust between parties. Not saying a brics is impossible but it is being blown out of proportion for the reality of the situation.

[jamesb]

The wef a whatever UN agenda the boosters want us to take up I hope are exposed for what they truly are. Far as brics and the machinations of subverting the dollar hegemony is a quaint idea and concept for nations who feel Uncle Sam has a foot on their throat. However, the reason the dollar is standard for so many commodities and the basis of trade is the stability of the dollar and sheer size of the American economy. When brics members can prove to offer a stable currency irrespective of the fact most members hate one another and aren’t terribly democratic or follow the rule of law. They gotta get their own shit together and prove they can function without the dollar or the American economy. They can back their currency by gold or seashells for all I care but the mechanism to establish value needs an element of trust between parties. Not saying a brics is impossible but it is being blown out of proportion for the reality of the situation.

Id agree. Maybe for American's the prospect this reality scares them but as Canadians we need to keep our house in order. We are in a good position to supply what the world wants. As far as the Brics deal, some of their players have big issues. Russia may win in Ukraine in the end but at what cost? I dont think China is going anywhere fast, kinda think the CPC has had its day. India has real potential as does others. I guess we will see. The US has the potential to move ahead but just as much to fad back. Its a real soap opera to watch.

[WiltonRanch]

Much as I think a lot of this alternative energy is impractical bunk I root for it in the sense that people can break their dependence on shitholes like Russia Saudi Arabia Iran etc. The Putin and Brics fanboys can chirp all they want but at the end of the day do any of you want to live with those third world despots as your overlords? As it looks now if a brics block does emerge I wonder what mechanism works to convert all the American greenbacks and wealth over to the brics currency, and how does brics currency fare in value and purchasing power when the commodity basket of goods it’s pegged to suffers a prolonged low value while non commodity elements of an economy flourish ie late 90’s? There’s a valid reason why the greenback was depegged from gold.

[furrowtickler]

Have no idea how it will turn out , could very well be a gong show , have no idea to be honest . Definitely not a fan of any of those countries or leaders .
But it’s happening , and will be interesting to watch how it all unfolds.

[LWeber]

[QUOTE=WiltonRanch;563675 There’s a valid reason why the greenback was depegged from gold.[/QUOTE]

U.S. Banks are sitting on $1.7 trillion in unrealized losses, research says. That’s not a problem—until it is

https://fortune.com/2023/03/23/banks-unrealized-losses-nearly-2-trillion-treasuries-mortgage-backed-securities/

There are also between 700t and 4.4 quad of OTC derivatives that need to be worked through.

Britain lost the reserve status because they were bankrupt.

Billions are leaving the USA every day. Ask someone who has tried to buy a home in Mexico...anywhere...and how long it is taking to sell. Hours...
The smart people bought elsewhere 12 months ago.

A good method to understand the future - is to look at the history of reserve currencies since 1400.

[shtferbrains]

Way off topic but silver and gold took a big jump today with silver up 5%+

A 1967 Quarter will melt for $3.75, 50 cent for $7.50, Silver dollar for $15+

A McDonalds single burger sells for $2.79 today or less than a 1967 Quarter.

Big Mac is is $6.19 or less than the 50 cent coin.

I assume you can do similar with gold values.

[WiltonRanch]

U.S. Banks are sitting on $1.7 trillion in unrealized losses, research says. That’s not a problem—until it is

https://fortune.com/2023/03/23/banks-unrealized-losses-nearly-2-trillion-treasuries-mortgage-backed-securities/

There are also between 700t and 4.4 quad of OTC derivatives that need to be worked through.

Britain lost the reserve status because they were bankrupt.

Billions are leaving the USA every day. Ask someone who has tried to buy a home in Mexico...anywhere...and how long it is taking to sell. Hours...
The smart people bought elsewhere 12 months ago.

A good method to understand the future - is to look at the history of reserve currencies since 1400.

I take your opinion with more weight than an internet savant but in the big picture isn’t an economy’s wealth more than the resources they possess? Is it more their ability to use their human capitol to add value to them or past that create non commodity wealth from a highly educated and capable workforce? Think we as hewers of wood and drawers of water get stuck in the mindset that resources are the be all and end all but unless you derive the most value from them you do not truly benefit. It’s about like how the cwb set us up to export raw grain out of the country at world prices or less without it being value added employing people and having business enterprises here. A lot of these Brics nations are in the same boat. They have all these resources but crappy despotic governments and colonial exporting economies. It is an interesting situation but look at the brics members and take time to think and the USA and free world has to seriously step on their dick to let these bozos eat their lunch. That is what I fear cause we have bozos leading us as well.

[furrowtickler]

Well we do have two of the biggest economic bozos in history leading the US and Canada right now for sure .
Pretty sure thats why some of this is happening all at once now

[TOM4CWB]

How soon the digital currency becomes necessary to maintain currency cohesion … the transition to the next generation of currency… was brought about by the pandemic… the seizure of bank accounts last February…. The Emergency Act implementation in my observation had more to do with authority to access to personal banking information…which then got baked into the banking system…$ 10,000 restrictions on cross border movements….

What good is owning gold…. Cdn Export restrictions are in clearly place….If we can’t do anything “different” with it?

Labour markets are changing…


We certainly live in interesting times!

Cheers

[TOM4CWB]

Pakistan bank record rate now at 21%… they are for all practical purposes bankrupt…

[TOM4CWB]

Bank of New Zealand interest rate up half a point (50 basis points) to 5.25%…. Unexpected…move… up…7.2% inflation… near term inflation pressure is increasing…

$5Trillion US funds sitting on the sidelines….in ”cash”….

[Stormin]

Way off topic but silver and gold took a big jump today with silver up 5%+

A 1967 Quarter will melt for $3.75, 50 cent for $7.50, Silver dollar for $15+

A McDonalds single burger sells for $2.79 today or less than a 1967 Quarter.

Big Mac is is $6.19 or less than the 50 cent coin.

I assume you can do similar with gold values.

A very good suit cost 1 oz. of gold 300 years ago, it still costs 1 oz. of gold or less.

In Diocletian's Rome at 301 AD gold converted to U.S. dollar equivalent, a beer cost about $2 and a steak around $4.50, So gold has an ability to hold it's value over centuries making it a good store of value.

In the "golden era" post WW1 the majority of technology was invented, technology we use today was invented under the gold standard, money that had a store of value and did not depreciate quickly.

[biglentil]

Early but not wrong