- Centrist Committee
- Aug 6, 2019
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Can't get past the paywall on the phone, but sounds hilarious.
https://archive.is/8svZ8
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Apr 11, 2023 21:40
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- Adbot
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ADBOT LOVES YOU
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May 5, 2024 13:22
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- The Atomic Man-Boy
- Jul 23, 2007
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Can the CIA coup aaaaall these governments?
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Apr 13, 2023 16:18
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- Mr Hootington
- Jul 24, 2008
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I'M HAVING A HOOT EATING CORNETTE THE LONG WAY
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Working towards this
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Apr 13, 2023 17:48
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- Cuttlefush
- Jan 15, 2014
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Gleichheit soll gedeihen
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im almost compltely de-dollared. doing my part
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Apr 13, 2023 17:50
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- Yadoppsi
- May 10, 2009
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The grocery store has helped complete my de-dollarization. Doing my part.
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Apr 13, 2023 18:59
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- The Atomic Man-Boy
- Jul 23, 2007
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im almost compltely de-dollared. doing my part
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Apr 13, 2023 20:54
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- Lpzie
- Nov 20, 2006
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perfect the right thread for me... ive been preaching in the econ thread (very successfully too) that Americans should take all their money, go to a foreign country, and dump it all.... one of the best ways to destroy America.... we should discuss where down counties are the prime targets for this obviously but in a pinch pick any you want to see and do the dump there....
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Apr 14, 2023 04:59
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- crepeface
- Nov 5, 2004
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r*p*f*c*
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https://files.catbox.moe/eahjn3.mp4
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Apr 15, 2023 05:35
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- Kal-L
- Jan 18, 2005
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Heh... Spider-man... Web searches... That's funny. I should've trademarked that one. Could've made a mint.
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perfect the right thread for me... ive been preaching in the econ thread (very successfully too) that Americans should take all their money, go to a foreign country, and dump it all.... one of the best ways to destroy America.... we should discuss where down counties are the prime targets for this obviously but in a pinch pick any you want to see and do the dump there....
Come to Mexico and give me all your unwanted US dollars. I'll give them a good home.
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Apr 16, 2023 07:31
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- crepeface
- Nov 5, 2004
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r*p*f*c*
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Bangladesh finds way to pay Russia for nuclear plant: with yuan
quote:DHAKA -- Bangladesh appears to have found a workaround for stalled payments it owes Russia for a nuclear power plant: settling them in Chinese yuan.
With U.S. and European sanctions barring Russia from much of the international banking system, Dhaka has been scrambling for ways to settle repayments worth $110 million for the still under construction Rooppur power plant. But last week, a high-level delegation from Russia and Bangladesh's Ministry of Finance agreed that the bills could be paid in yuan.
Uttam Kumar Karmaker, additional secretary of the ministry's Economic Relations Division (ERD), told Nikkei Asia that repaying Moscow in China's currency appeared to be the most viable option under the present circumstances. The sanctions went up in response to Russia's war in Ukraine.
"Because of the sanctions against Russian banks," Karmaker said, "we couldn't process payments in U.S. dollars. Russia asked us to settle the payments in their currency, rubles, but that was not feasible. So we both opted for yuan."
Rooppur, when completed, will be capable of generating 2,400 megawatts of power. It is to be a crucial element of Bangladesh's plans to generate more energy and reduce its reliance on coal. The new arrangement, which should help ensure the project moves forward, comes amid growing calls from Global South nations and others to move away from the dollar and reduce the dominance of Western-led financial institutions.
Under the pact, Bangladesh will resolve payments with Russia via a Chinese bank, likely drawing on Dhaka's own reserves of yuan. Russian beneficiaries will receive funds through China's Cross-Border Interbank Payment System (CIPS), a yuan-driven alternative to the dollar-dominated SWIFT system.
SWIFT, a secure messaging platform that facilitates cross-border payments, still dwarfs CIPS. With 11,000 members, SWIFT transfers 50 million messages a day, enabling $5 trillion in trade, while CIPS, with 1,280 members, handles 15,000 messages, according to media reports.
The decision to block some Russian banks' SWIFT access, however, appears to have opened a door for China to promote its alternative. And the world's second-largest economy has found an eager partner in Russia, one of the world's top energy exporters.
In late March, during a three-day bilateral summit with Chinese President Xi Jinping, Russian President Vladimir Putin said, "We are in favor of using the Chinese yuan for settlements between Russia and the countries of Asia, Africa and Latin America."
For Bangladesh, China is the No. 1 trading partner, sharing over 17% of the South Asian nation's annual volume. Russia, meanwhile, is building as well as funding over 90% of the $12.65 billion Rooppur plant -- Bangladesh's largest infrastructure project.
"Given the significance of this power plant project, it is natural that Bangladesh will try to keep it going at any cost," said Shafquat Rabbee, adjunct faculty at the University of Dallas' business school in the U.S., explaining why Dhaka is in effect signing on to China and Russia's plan to counter the dollar.
But Rabbee argued that Dhaka would be wise to confine the payments to those for Rooppur. Otherwise, it "will cause much tension with Bangladesh's Western partners," he said.
There are few economic reasons for Bangladesh to engage in "a geopolitical adventurism against the West around trade currencies," he added, noting that most of Bangladesh's foreign currency earnings come from Europe, the U.S. and American allies.
Data from Bangladesh Bank, the country's central bank, shows the U.S. was the largest importer of Bangladeshi products in 2021, importing $8.3 billion. In the same year, U.S. companies invested $4.3 billion in the country, accounting for over 20% of the total foreign direct investment stock.
On the other hand, even though China is Bangladesh's largest trading partner, the relationship heavily favors China. Out of around $13.61 billion in bilateral trade in 2021, Bangladesh's exports to China accounted for about $680 million, while imports from China added up to $12.93 billion.
"China is now the largest trading partner for most countries in the world," Rabbee said. "Given China's dominant trade status, the recent China-Russia or China-Saudi Arabia trade settlement agreements using yuan may start to gradually chip away at the dollar's preferred trade currency status.
"However, China exports more to other countries than it imports from them and as a net exporter, China may not be yet ready to dominate the world of trade with its artificially undervalued currency."
Bangladesh's central bank has been building up the share of yuan in its foreign currency reserves since 2017, after the currency was included in the International Monetary Fund's Special Drawing Rights (SDR) currency basket.
The yuan's portion of the country's forex reserves rose to 1.32% last August, from 1% in 2017, while the dollar declined to 75% from 81%, according to data published by local media and confirmed by a source familiar with the matter.
In September, Bangladesh Bank issued a circular allowing commercial banks to maintain accounts in yuan with their corresponding branches abroad to settle cross-border transactions. Last month, it also allowed local businesses to maintain export retention quotas -- the portion of foreign currency that an exporter can retain after repatriating the export earnings -- in yuan.
Mezbaul Haq, a spokesperson for Bangladesh Bank, told Nikkei Asia that the country has not adopted a deliberate policy to build up yuan reserves. "Considering the global situation and the market, we are just hedging our risk and diversifying our portfolio," he said.
As for the nuclear plant payments, Haq said, "The decision on this has been taken by the ERD. We only made recommendations."
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Apr 18, 2023 02:06
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- AnimeIsTrash
- Jun 30, 2018
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didnt watch
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Apr 18, 2023 02:11
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- webcams for christ
- Nov 2, 2005
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getting there....
https://twitter.com/lines_down/status/1649512155644055552
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Apr 22, 2023 10:32
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- Centrist Committee
- Aug 6, 2019
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american dollar
go gently caress youself
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Apr 22, 2023 15:52
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- The Atomic Man-Boy
- Jul 23, 2007
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Bitcoin will fix this
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Apr 22, 2023 17:41
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- Osv18
- Jul 23, 2022
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by vyelkin
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has anybody said bitcoin yet
e: gently caress
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Apr 22, 2023 17:45
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- Cpt_Obvious
- Jun 18, 2007
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That's a helluva chart.
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Apr 22, 2023 20:30
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- Centrist Committee
- Aug 6, 2019
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yah it’s happening and it’s accelerating, these next few years are gonna be wilde
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Apr 22, 2023 21:25
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- croup coughfield
- Apr 8, 2020
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Can't post for 93 days!
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been thinking on it. we're gonna turn it around
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Apr 22, 2023 21:27
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- ikanreed
- Sep 25, 2009
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I honestly I have no idea who cannibal[SIC] is and I do not know why I should know.
syq dude, just syq!
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been thinking on it. we're gonna turn it around
Gonna do a sweet 360 on the way down
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Apr 22, 2023 21:58
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- Lpzie
- Nov 20, 2006
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im ahead on the curve, as always..... start dumping NOw!!!
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Apr 22, 2023 22:57
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- Lpzie
- Nov 20, 2006
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stomp ur feet!!!! make noise.... we're gonna get that paper!
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Apr 22, 2023 22:58
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- Weka
- May 5, 2019
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That child totally had it coming. Nobody should be able to be out at dusk except cars.
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been thinking on it. we're gonna turn it around
It wouldn't be the first time.
Only registered members can see post attachments!
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Apr 23, 2023 05:07
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- Cpt_Obvious
- Jun 18, 2007
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Well I guess whatever happened around 1990-1991 just has to happen again.
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Apr 23, 2023 05:24
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- croup coughfield
- Apr 8, 2020
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Can't post for 93 days!
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i believe in american innovation and can-do spirit. we're gonna come out of this a-ok.
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Apr 23, 2023 15:25
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- Colonel Cancer
- Sep 26, 2015
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Tune into the fireplace channel, you absolute buffoon
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invent dollar2
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Apr 23, 2023 17:42
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- Centrist Committee
- Aug 6, 2019
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Well I guess whatever happened around 1990-1991 just has to happen again.
it’s jeb time
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Apr 23, 2023 18:09
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- Lpzie
- Nov 20, 2006
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great idea but not well thought out... as a younger currency it'll be easier to export and destroy...
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Apr 23, 2023 20:44
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- ikanreed
- Sep 25, 2009
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I honestly I have no idea who cannibal[SIC] is and I do not know why I should know.
syq dude, just syq!
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i believe in american innovation and can-do spirit. we're gonna come out of this a-ok.
Uber for international monetary exchange
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Apr 24, 2023 04:22
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- Weka
- May 5, 2019
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That child totally had it coming. Nobody should be able to be out at dusk except cars.
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I like graphs.
Only registered members can see post attachments!
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Apr 24, 2023 08:07
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- crepeface
- Nov 5, 2004
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r*p*f*c*
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https://twitter.com/Reuters/status/1651399630167392258?t=VTbqST5BgQKnHWiwiWLo5Q&s=19
quote:
BUENOS AIRES, April 26 (Reuters) - Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country's dwindling dollar reserves.
In April, it aims to pay around $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly imports will be paid in yuan, a government statement said.
The decision aims to ease the outflow of dollars, Argentina's Economy minister Sergio Massa said during an event following a meeting with the Chinese ambassador, Zou Xiaoli, as well as with companies from various sectors.
The decision comes as the South American nation battles critical levels in its dollar reserves amid a sharp drop in agricultural exports caused by a historic drought, as well as political uncertainty ahead of elections this year.
In November last year, Argentina expanded a currency swap with China by $5 billion, seeking to strengthen Argentina's international reserves.
The agreement will allow Argentina "to work on the possibility" of advancing the rate of imports, Massa added, with yuan-denominated import orders being authorized in 90 days rather than the standard 180 days.
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Apr 27, 2023 08:58
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- crepeface
- Nov 5, 2004
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r*p*f*c*
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double post
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Apr 27, 2023 08:59
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- Adbot
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ADBOT LOVES YOU
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May 5, 2024 13:22
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- Centrist Committee
- Aug 6, 2019
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no it’s just multi-polar posting
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Apr 27, 2023 19:17
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Apr 11, 2023 21:40
💶
