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Votskomit
Jun 26, 2013
https://twitter.com/GlobeEyeNews/status/1758001667750940972?t=ppmg8IzbDec8o2l8hDWySA&s=19

Nigeria dropping dollar for oil sales.

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fart simpson
Jul 2, 2005
Probation
Can't post for 5 hours!

Weka posted:

It is supposed to but for instance Laos has the 7th highest imf debt to gdp ratio in the world at 129% and afaik they are not really subservient politically or economically to the USA.

are they a real rival

Oglethorpe
Aug 8, 2005


nigeria about to be introduced to freedom and democracy through forced regime change

Tsitsikovas
Aug 2, 2023
US dollar hegemony on the BRINCS of collapsing

OhFunny
Jun 26, 2013

EXTREMELY PISSED AT THE DNC

Is there another source for this? This Twitter account is a mix of real news and bullshit. All I can find is a Nigerian government advisor saying the country should do this and not anything official.

net work error
Feb 26, 2011

Tsitsikovas posted:

US dollar hegemony on the BRINCS of collapsing

stephenthinkpad
Jan 2, 2020

Oglethorpe posted:

nigeria about to be introduced to freedom and democracy through forced regime change

I was thinking GWOT or some borderland ethnic minority is going to take up arms.

Weka
May 5, 2019

That child totally had it coming. Nobody should be able to be out at dusk except cars.

fart simpson posted:

are they a real rival

I was objecting to the subservient part only

The Voice of Labor
Apr 8, 2020


congo's where all the cobalt is. they need to follow suit

crepeface
Nov 5, 2004

r*p*f*c*

OhFunny posted:

Is there another source for this? This Twitter account is a mix of real news and bullshit. All I can find is a Nigerian government advisor saying the country should do this and not anything official.

yeah there's lots of calls for it, but a lot of these articles are premature. like, i saw some crypto blog say Egypt was dedollarizing but then you look and it's poo poo like this:

quote:

El-Etreby indicated that dealing in national currencies would alleviate the rising costs of using foreign currencies as a result of the high global inflation.

The ambassador said he has been directed by the presidency to promote industrial, agricultural and service cooperation between the bloc’s nations.

El-Etreby is the assistant foreign minister for international and regional economic affairs.

https://english.ahram.org.eg/NewsContent/1/1234/517659/Egypt/Foreign-Affairs/Egypt-will-urge-trade-in-national-currencies-withi.aspx

Lib and let die
Aug 26, 2004

Tsitsikovas posted:

US dollar hegemony on the BRINCS of collapsing

Votskomit
Jun 26, 2013

OhFunny posted:

Is there another source for this? This Twitter account is a mix of real news and bullshit. All I can find is a Nigerian government advisor saying the country should do this and not anything official.

Dammit.

I found this, which is not the same thing and it's probably someone stretching the truth or being confused about what the below story means.

https://www.reuters.com/world/africa/nigeria-central-bank-sets-limits-oil-firms-fx-transfers-crude-2024-02-15/

crepeface
Nov 5, 2004

r*p*f*c*
apparently china is buying gold instead of US treasuries which is spiking the price.

https://geopoliticaleconomy.com/2024/04/09/us-waging-economic-war-china-radhika-desai-michael-hudson/

quote:

And you can see that, yes, exactly, at the same rate at which China is dumping dollars or treasuries and not participating as much in the treasury market as it once did, it is also increasing its gold reserves.

Weka
May 5, 2019

That child totally had it coming. Nobody should be able to be out at dusk except cars.
I came across this recently, a few countries I wouldn't necessarily expect.

https://twitter.com/martypartymusic/status/1778157977410699388

And for context. From 2023

Cerebral Bore
Apr 21, 2010


Fun Shoe
ronpaulitshappening.gif

Ardennes
May 12, 2002
The Russian numbers are also a little outdated because they have also been buying a bunch of gold domestically since the first. Basically, everyone is heading toward the doors at the same time.

stephenthinkpad
Jan 2, 2020
I heard from an in-the-know Chinese podcast that Yellen was very upset about Chinese banks buying gold and it was a big topic in her visit to China.

Palladium
May 8, 2012

Very Good
✔️✔️✔️✔️

stephenthinkpad posted:

I heard from an in-the-know Chinese podcast that Yellen was very upset about Chinese banks buying gold and it was a big topic in her visit to China.

she should direct her displeasure accurately to the manager of the nordstreams

Doktor Avalanche
Dec 30, 2008

stephenthinkpad posted:

I heard from an in-the-know Chinese podcast that Yellen was very upset about Chinese banks buying gold and it was a big topic in her visit to China.

"You can't defend yourselves against our sanctions! That's against the rules!"

Cerebral Bore
Apr 21, 2010


Fun Shoe
a janet is when you get to the level of karen where you try to complain to an actual superpower's manager

stephenthinkpad
Jan 2, 2020
That's why the US unleashed 301 investigation to Chinese shipping, threatened sanction on Chinese banks that specialize in Russia/Iran (Kunlun bank etc), criticized China for "overproduction" and a couple more things I can't remember off the top my head, after Yellen's visit. Because China didn't agree on any of Yellen's demands. Edit, oh yeah performative "3x tariff on Chinese steel".

BTW Indian banks are buying massive gold too. India is a classic example of hedging, can always count on good old India to look out for their own interests, not some stupid US lackey like Japan and Australia.

stephenthinkpad has issued a correction as of 15:15 on Apr 25, 2024

PERPETUAL IDIOT
Sep 12, 2003

stephenthinkpad posted:

I heard from an in-the-know Chinese podcast that Yellen was very upset about Chinese banks buying gold and it was a big topic in her visit to China.

What podcast is this? I'd be interested in checking it out.

The Killing Jelq
Jun 13, 2012

The Voice of Labor posted:

congo's where all the cobalt is. they need to follow suit

What currency do they use for contracts with the Tenke Fungurume mine? Probably not usd…

stephenthinkpad
Jan 2, 2020

PERPETUAL IDIOT posted:

What podcast is this? I'd be interested in checking it out.

It's 观棋有语 on bilibili, but I don't remember they discussed Yellen in which recent episode.

Mr Hootington
Jul 24, 2008

I'M HAVING A HOOT EATING CORNETTE THE LONG WAY

stephenthinkpad posted:

I heard from an in-the-know Chinese podcast that Yellen was very upset about Chinese banks buying gold and it was a big topic in her visit to China.

Financial Times had a story about it a couple days ago and last week Bloomberg had a story about how foreign Bank gold purchases for 2024 are already higher than last year.

The latest Russian asset seizure and spending is going to accelerate this.

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Ghost Leviathan
Mar 2, 2017

Exploration is ill-advised.

Cerebral Bore posted:

a janet is when you get to the level of karen where you try to complain to an actual superpower's manager

Dammit, Janet!

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