“Americans Will Be Poor Overnight!” - Reaction To China & Brazil Agreement To Ditch US Dollar

[beijingwalker]

“Americans Will Be Poor Overnight!” - Reaction To China & Brazil Agreement To Ditch US Dollar​

 

[ThunderCat]

How will BRIC countries adopt a common currency, regardless of what is said in the video. I mean they are geographically all apart.

 

[Skull and Bones]

How will BRIC countries adopt a common currency, regardless of what is said in the video. I mean they are geographically all apart.

It will take decades to see effect materializing, remember here we are only talking about bilateral trades. This is a good development in the long run.

 

[beijingwalker]

US media always claims that the Chinese economy is a real estate based bubble, the truth is that US economy is the biggest bubble ever created in the whole human history, which is based on nothing tangible.

 

[my2cents]

How will BRIC countries adopt a common currency, regardless of what is said in the video. I mean they are geographically all apart.

Same way dollar became a reserve currency. It is a trust factor that America will not go bankrupt.

 

[jhungary]

US media always claims that the Chinese economy is a real estate based bubble, the truth is that US economy is the biggest bubble ever created in the whole human history, which is based on nothing tangible.

The truth is that you have zero understanding how currency works.

This or [insert whichever country] decided to ditch the US Dollars would not damage the value of the US Dollars in both long terms and short term with a simple fact that Brazil do not spend RMB and China do not spend Lira

This would only do two things.

1.) Shore up both currency on each other shore, yes that would increase security, but that would spike both currency demand
2.) Inflation, because the currency demand is spiked.

The only model it can works is for both side to hold each other currency and to trade within each other, say China buy Brazilian coffee with 10000 Lira and that same amount of Lira was to be stayed in Brazil for when Brazil buy say a Chinese car from a Chinese vendor with that value. That would only work if trade are balance, and it is not,

If not, then either one side would have to stash extremely high amount of the other currency, and in this case, Brazil will overstock RMB because that's where the imbalance tilted. And since they can't use RMB at home, and they can't give it back to China until the next transaction, they are going to need to exchange it to something so they can spend, either they eat all those Yuan themselves or they trade to some other currency and buy stuff from other countries, and guess who are the world reserve currency in the world?

 

[beijingwalker]

The truth is that you have zero understanding how currency works.

This or [insert whichever country] decided to ditch the US Dollars would not damage the value of the US Dollars in both long terms and short term with a simple fact that Brazil do not spend RMB and China do not spend Lira

This would only do two things.

1.) Shore up both currency on each other shore, yes that would increase security, but that would spike both currency demand
2.) Inflation, because the currency demand is spiked.

The only model it can works is for both side to hold each other currency and to trade within each other, say China buy Brazilian coffee with 10000 Lira and that same amount of Lira was to be stayed in Brazil for when Brazil buy say a Chinese car from a Chinese vendor with that value. That would only work if trade are balance, and it is not,

If not, then either one side would have to stash extremely high amount of the other currency, and in this case, Brazil will overstock RMB because that's where the imbalance tilted. And since they can't use RMB at home, and they can't give it back to China until the next transaction, they are going to need to exchange it to something so they can spend, either they eat all those Yuan themselves or they trade to some other currency and buy stuff from other countries, and guess who are the world reserve currency in the world?

The whole world is stupid including economists from US, only you are smart and the world has to revolve around you, got it.

 

[jhungary]

“Americans Will Be Poor Overnight!” - Reaction To China & Brazil Agreement To Ditch US Dollar​

Since when Patrick Bet-David, Charlie Kirk, Tom Ellsworth and Adam Sosnick are economist??

 

[Dalit]

Since when Patrick Bet-David, Charlie Kirk, Tom Ellsworth and Adam Sosnick are economist??

Let me guess. If these guys start dissing China you will clap for them?

 

[beijingwalker]

Since when Patrick Bet-David, Charlie Kirk, Tom Ellsworth and Adam Sosnick are economist??

Since when you are? you can discuss and debate, but don't have to start with dismissing others as total ignorance.

 

[jhungary]

Let me guess. If these guys start dissing China you will clap for them?

Patrick Bet-David was an Iran migrant, the best thing he achieve is as a grandmaster of chess
Charlie Kirk is a radio host without a degree
Tom Ellsworth is a marketing executive
Adam Sosnick have a degree in communication..

They are rich, that does not make them economist, Paris Hilton is rich probably richer than all 4 combined, does that mean she must be a economist?

 

[beijingwalker]

Patrick Bet-David was an Iran migrant, the best thing he achieve is as a grandmaster of chess
Charlie Kirk is a radio host without a degree
Tom Ellsworth is a marketing executive
Adam Sosnick have a degree in communication..

They are rich, that does not make them economist

And you are?

 

[Dalit]

Patrick Bet-David was an Iran migrant, the best thing he achieve is as a grandmaster of chess
Charlie Kirk is a radio host without a degree
Tom Ellsworth is a marketing executive
Adam Sosnick have a degree in communication..

They are rich, that does not make them economist

Right. Their opinion doesn't count. I get it.

Yet if these guys start criticizing China you will be praising them.

And you are?

He is the chief economist of NZ.

 

[jhungary]

Since when you are? you can discuss and debate, but don't have to start with dismissing others as total ignorance.

First of all, I have both a degree minor in Economy and a Master in International Business.

Second of all, I am the one that discussing the point in this post.

The truth is that you have zero understanding how currency works.

This or [insert whichever country] decided to ditch the US Dollars would not damage the value of the US Dollars in both long terms and short term with a simple fact that Brazil do not spend RMB and China do not spend Lira

This would only do two things.

1.) Shore up both currency on each other shore, yes that would increase security, but that would spike both currency demand
2.) Inflation, because the currency demand is spiked.

The only model it can works is for both side to hold each other currency and to trade within each other, say China buy Brazilian coffee with 10000 Lira and that same amount of Lira was to be stayed in Brazil for when Brazil buy say a Chinese car from a Chinese vendor with that value. That would only work if trade are balance, and it is not,

If not, then either one side would have to stash extremely high amount of the other currency, and in this case, Brazil will overstock RMB because that's where the imbalance tilted. And since they can't use RMB at home, and they can't give it back to China until the next transaction, they are going to need to exchange it to something so they can spend, either they eat all those Yuan themselves or they trade to some other currency and buy stuff from other countries, and guess who are the world reserve currency in the world?

Which your reply is

Everyone is stupid, even economist but me.

That's not counting anything I said on this post above. Now, if you can tell me and explain away how or why my post is wrong, that may have score you some head wind, but just saying "Everyone is stupid but you" that's not countering my point.

He is the chief economist of NZ.

That's an Australian flag.......

Talking about stupid people......

 

[Dalit]

First of all, I have both a degree minor in Economy and a Master in International Business.

Second of all, I am the one that discussing the point in this post.

Which your reply is



That's not counting anything I said on this post above. Now, if you can tell me and explain away how or why my post is wrong, that may have score you some head wind, but just saying "Everyone is stupid but you" that's not countering my point.


That's an Australian flag.......

Talking about stupid people......

We cannot verify your claims. I can also claim to be a rocket scientist.

Didn't you claim in the past that you lived in NZ ? You also claim that you are some army professional. All claims that we cannot verify.

Fun fact, we have members on this forum that claim that they are F-22 pilots.