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Lol if this makes a bunch of cspam communists into goldbugs though
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Jul 25, 2023 13:08
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| # ? Jun 9, 2024 22:54 |
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studying marxism to become a better capitalist ftw
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Jul 25, 2023 13:12
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unironically yes
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Jul 25, 2023 13:13
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I’m guessing the gold thing is a Russian demand because any BRICOR could just be fiat supported entirely by china’s industrial base alone
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Jul 25, 2023 13:15
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Question, can the gold backed currency only use for global trade, like you don't use it domestically daily consumption, you don't use it for investment. But only for trade? Or its impossible for the Brics countries that issue it to limit its used? The USD index is wildly affected by the US interest rate, I don't know how you affect the gold backed index. Throwing national gold reserve into the global market is the only way I guess?
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Jul 25, 2023 13:17
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Weka posted:unironically yes who's being ironic
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Jul 25, 2023 13:18
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stephenthinkpad posted:Question, can the gold backed currency only use for global trade, like you don't use it domestically daily consumption, you don't use it for investment. But only for trade? yes, international currencies without an accompanying monetary and economic union are for trade and national account transactions only. international currencies such as bancor, unitas, or whatever BRICS proposes (i like ardennes' BRICOR from the asia thread), circulate entirely inside some supranational institution who would just limit access/membership to central banks of participating nations. i suppose it would be possible for a single member of BRICS to forgo their own domestic currency and just use BRICOR instead but at that point you've just reinvented bretton woods but with more steps. there are several options for influencing gold indexes/currencies: managing the money supply through interest rates and bonds by the issuing authority, producing more gold, or collude with other nations to use your gold reserves to influence the market price
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Jul 25, 2023 13:35
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Raskolnikov38 posted:tbf communist countries have issues with multilateral clearing too, its just that china literally makes everything so no one really cares about holding on a glut of yuans Oh no what am I going to do with all this money I can exchange for literally all goods produced by humanity? Combined labour power of the working class backed currency. Orange Devil has issued a correction as of 15:02 on Jul 25, 2023 |
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Jul 25, 2023 15:00
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ikanreed posted:Lol if this makes a bunch of cspam communists into goldbugs though im warming up to gold already. what are the best gold etfs??
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Jul 25, 2023 17:56
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gold specie ftw
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Jul 25, 2023 18:56
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also it wouldn't just be gold, it'll probably be backed by other commodities
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Jul 25, 2023 19:54
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the conditions are finally right. it's time to introduce a cspam currency to compete with the dollar
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Jul 25, 2023 19:56
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croup coughfield posted:the conditions are finally right. it's time to introduce a cspam currency to compete with the dollar quotecoin, the quote based economy
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Jul 26, 2023 01:50
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Introducing the Goon Energy Cube. Each Energoon equals 1 gigajoule of energy.
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Jul 26, 2023 02:00
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mawarannahr posted:quotecoin, the quote based economy
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Jul 26, 2023 02:03
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Rand Paul posted:gold specie ftw no nooooooooooooo
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Jul 26, 2023 02:06
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mawarannahr posted:quotecoin, the quote based economy this was exactly where my head was at. i can see we're going to make great partners on this project
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Jul 26, 2023 05:14
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https://twitter.com/RT_com/status/1684000580212236288?t=sXqlqnF7D5F05Hi8iPnvpQ&s=19 feel like this happened really quickly. maybe related to BRICS meeting? maybe the new BRICS currency will be some kind of digital Bancor linked? or maybe they needed to put some kind of infrastructure in place?
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Jul 26, 2023 05:25
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croup coughfield posted:this was exactly where my head was at. i can see we're going to make great partners on this project
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Jul 26, 2023 06:32
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Honestly with the way everything else is I wouldn't be surprised to find out that fort Knox is actually mostly empty because the government has sold parts of it off
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Jul 26, 2023 16:14
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yeah at this point just completely sever the stock market from the actual economy and let all the rich live their lives in apple headsets imagining how rich they are like that time picard captured a hologram in a cube on his desk
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Jul 26, 2023 16:16
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Grapplejack posted:Honestly with the way everything else is I wouldn't be surprised to find out that fort Knox is actually mostly empty because the government has sold parts of it off A supervillain emptied it out a while back and they've just been pretending Or it's where they're actually keeping the UFOs, Area 51 is where they keep the gold. They'll never suspect that
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Jul 26, 2023 17:46
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bump
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Aug 7, 2023 09:26
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https://twitter.com/BenjaminNorton/status/1689262413302927361?t=uC1jNDR9jV5_A2QvJCGgoA&s=19 https://youtube.com/shorts/JpwJR2Mi_Es?feature=share
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Aug 9, 2023 14:35
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the brics meeting this year should be entertaining over 40 countries are wanting to join so far
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Aug 9, 2023 14:38
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the anglo nations are all gonna get enslaved by america and be forced to live apart from the world like a sad hermit kingdom of racists
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Aug 9, 2023 16:05
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Real hurthling! posted:the anglo nations are all gonna get enslaved by america and be forced to live apart from the world like a sad hermit kingdom of racists the rest of the world will progress and leave the english speaking world behind. domestic media will continue to describe the west as number one, and the masses will not know any better because we're generally monolingual
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Aug 11, 2023 20:08
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Delta-Wye posted:the rest of the world will progress and leave the english speaking world behind. domestic media will continue to describe the west as number one, and the masses will not know any better because we're generally monolingual
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Aug 11, 2023 20:13
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when I visited Shanghai before covid, I legitimately couldn’t believe it. I was expecting something advanced, but nothing prepared me for just how insanely ahead it felt compared to any American city. wandering around at night was a genuine experience. I remember when I first visited in the 90s would see tons of bicycles since cars were a luxury. made me really sad to see the wasted potential here as neoliberal failson empire inheritors robbed us of our future and all we get are dumb apps called Milkr
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Aug 11, 2023 20:27
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https://twitter.com/unusual_whales/status/1691134084720758784
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Aug 15, 2023 14:26
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dont worry this will be offset by argentina putting the entire country on the imf credit card
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Aug 15, 2023 16:27
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How much are they buying exactly?
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Aug 15, 2023 16:31
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Centrist Committee posted:dont worry this will be offset by argentina putting the entire country on the imf credit card (again)
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Aug 15, 2023 16:31
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net work error posted:How much are they buying exactly? One million barrels of oil. Source.
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Aug 15, 2023 18:32
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Crossposting this here because I love graphs and love is about sharing. Also maybe some econ egg heads might have some insights. Russia has stopped publishing gross trade data since 2022 but heres a website puporting to track it as well as possible. https://www.bruegel.org/dataset/russian-foreign-trade-tracker quote:To track Russian foreign trade, this dataset collects detailed trade data from European Union countries, China, the United States, South Korea, Japan, India, the United Kingdom, Turkey, Switzerland, Norway, Brazil, and Kazakhstan. These 38 countries accounted for 80% of Russia’s exports and imports in 2019. This won't catch some of the new importing they've been doing through third countries, but it will catch a lot.   As you can see it has declined from 2021 but is still around pre-covid levels. I've added a graph below with more long term data, it's from WITS.  I've been wondering about the effect of the drop in value of the ruble. Russia is an export led economy and so a low ruble combined with a strong oil price gives the government more rubles to spend domestically. All reports I've seen of their current account balance have been pretty good. There is obviously a limit to how low is manageable though with inflation potentially being driven by imports.
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Aug 16, 2023 00:55
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is there a thread somewhere discussing the BRICS stuff? haven’t been able to find any, and can’t search right now because I only have access to the awful app.
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Aug 24, 2023 11:50
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Delta-Wye posted:the rest of the world will progress and leave the english speaking world behind. domestic media will continue to describe the west as number one, and the masses will not know any better because we're generally monolingual Also see Americans who genuinely believe daily life in the US is the best it gets worldwide for regular working people.
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Aug 24, 2023 12:17
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net work error posted:How much are they buying exactly? India is the 4th largest oil refiner in the world: https://www.statista.com/statistics/273579/countries-with-the-largest-oil-refinery-capacity/
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Aug 24, 2023 12:20
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Popoto posted:is there a thread somewhere discussing the BRICS stuff? haven’t been able to find any, and can’t search right now because I only have access to the awful app. This thread kind of does and the Asian thread does a bit. You would think doom econ would, but that thread is about how much your renters are paying you.
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Aug 24, 2023 12:21
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| # ? Jun 9, 2024 22:54 |
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as I thought. was hoping I had missed one. thanks.
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Aug 24, 2023 12:23
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