US Politics

[StockEngine]

DJT baiting MSM 🤣🤣🤣

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[uls]

uncanny similarities trump and du30

[uls]

the US saw the rise of populist Trump and the far right

now Italy

they just voted for populist, anti-EU, anti-immigration parties

https://www.washingtonpost.com/news/...=.c476360ce8c6

As votes were tallied in the early hours of Monday, it seemed Juncker's worst-case scenario had arrived. About half the Italian electorate voted for populist parties once considered fringe, and a stable government is nowhere in sight.

There were two big winners: the anti-establishment Five Star Movement, founded less than a decade ago by a comedian, which won about 32 percent of the vote, and the League, a far-right, anti-immigrant, Euroskeptic party. The League likely surpassed its center-right ally, the Forza Italia party of former Italian prime minister Silvio Berlusconi. Meanwhile, the Five Star Movement — an anarchic faction encompassing Euroskeptics, libertarians, progressives and a strong core of disenchanted youth voters — became the single biggest party in Italy.

[StockEngine]

they had to vote anti immigrant.. sobrang dami ng mossies sa europe...

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[uls]

which is exactly my view that the developed world is getting weak

they're now looking inward

nagiging protectionist, isolationist

the far right is rising

their populations are tired of the liberal agenda (free trade/globalization, immigration, political correctness etc)

the liberal legacy is being torn down on both sides of the atlantic

that European Union... that euro project...

it ain't gonna last

[uls]

the West weakens, China rises

power shifts from west to east

[Ry_Tower]

The US won't be weak so long for a communist like China to supplant it imho. Communism is a failure. Sooner rather than later, the problem with China's unsustainable growth will drag them down. The US and the west are not stupid and disenchanted with what is happening in the east. Just an opinion.

Forbes Welcome

The Chinese Dream to Overtake America - The Atlantic

The voters that voted for Trump, is not like the voters in the Philippines imho. They have similarities but I think US voters are still more discerning. The next presidential election will determine if I am right or wrong though.

[uls]

all empires fade

the US is no exception

[StockEngine]

mid terms in november and this is blowing Dem's chances [emoji28]

https://youtu.be/5RcLwUuLOU8

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[Ry_Tower]

all empires fade

the US is no exception

If ever, I think it will not be in our lifetime.

[uls]

So Trump wants to punish China for selling stuff to the US but not buying as much stuff from the US resulting in a large trade deficit for the US and a large trade surplus for China

(maybe Trump forgot that China invests the dollars it earned in US treasuries but that's another story)

i mentioned in another thread that since the dollar is the world's reserve currency the rest of the world (RoW) needs to maintain dollar reserves

and the only way to have dollar reserves is to export stuff

The RoW needs to earn dollars while the US can just print --- which is called Exorbitant Privilege --- the privilege enjoyed by the US for owning the world's reserve currency

since the US owns the dollar, the US HAS TO MAINTAIN A TRADE DEFICIT WITH THE RoW for countries to have dollar reserves

US trade deficit with RoW = dollars kept in foreign central banks



to be continued...

[uls]

So Trump wants to make it hard for China and the RoW to obtain dollars

Well Trump will only undermine the Exorbitant Privilege the US enjoys

and accelerate the fall of the dollar from world reserve currency status

coz if other countries will be unable to obtain dollars they will look for a substitute

--

Remember that the US dollar was backed by gold (1944 Bretton Woods)



The world agreed to use the dollar as reserve currency coz the US government guaranteed convertibility to gold (gold standard)

but in 1971 US president Richard Nixon took the dollar off the gold standard (Bretton Woods collapsed)

so the dollar is no longer backed by anything

in order the maintain reserve currency status, the US and Saudi Arabia made a deal





to be continued....

[uls]

Ok now i'm arriving at my point...

i posted in another thread that the source of US power is the dollar

since the US can print dollars (unlike other countries that have to earn dollars) it allows the US to buy anything at any price from anywhere in the world without running out of dollars

the almighty dollar is how the US maintains its superpower status

China knows the source of US power and the only way it can weaken the US is to move the world away from the dollar

introducing PETRO YUAN

https://www.cnbc.com/2017/10/24/petr...contracts.html

China is looking to make a major move against the dollar's global dominance, and it may come as early as this year.

The new strategy is to enlist the energy markets' help: Beijing may introduce a new way to price oil in coming months — but unlike the contracts based on the U.S. dollar that currently dominate global markets, this benchmark would use China's own currency. If there's widespread adoption, as the Chinese hope, then that will mark a step toward challenging the greenback's status as the world's most powerful currency.

China Muscles In on Brent, WTI Oil Dominance - WSJ

China said it would launch a yuan-denominated oil futures contract in March, a long-anticipated move aimed at boosting the pricing power of the worldÂ’s biggest crude importer.

If successful, the contract could challenge the dominance of Brent and West Texas Intermediate futures contracts while loosening some of the dollarÂ’s grip on global markets. Some analysts say, though, that the contract may struggle because of the control Beijing still exerts over the yuan and its financial system.

China Ends 25-Year Wait as Yuan Oil Futures to Start Trading - Bloomberg

After a wait of about a quarter of a century, the world’s biggest oil buyer is finally getting its own crude-futures contract.

In a challenge to the world’s dollar-denominated oil benchmarks Brent and West Texas Intermediate, China will list local-currency crude futures in Shanghai on March 26, according to the nation’s securities regulator. The start of trading, open to foreigners, will mark the end of years of delays and setbacks since China’s first attempt at a domestic contract in 1993.

to be continued...

[uls]

According to the IMF, more and more countries are using RMB

the RMB is now second to the dollar

http://www.imf.org/en/Publications/W...y-System-45586

What is the extent of currency diversification in the international monetary system? How has it evolved over time? In this paper, we quantify the degree of currency diversification using regression methods of currency co-movements to determine the extent to which national currencies across the world belong to a reserve currency bloc. We then use these estimates to calculate the economic size of each currency bloc. A key contribution of our paper is that we quantify the size of the Chinese renminbi bloc. Our analysis suggests that the international monetary system has transitioned from a bi-polar system - consisting of the U.S. dollar and the euro - to a tri-polar one that includes the renminbi. The dollar bloc is estimated to continue to dominate, having the largest share in global GDP (40 percent), followed by the renminbi (30 percent) and the euro blocs (20 percent). The geographical area of influence for the RMB bloc appears to be most evident among the BRICS’ currencies. The British pound and the Japanese yen blocs appear to play minor roles.

to be continued.........

[uls]

the rising use of RMB is going global

many countries are now using RMB to trade bypassing the US dollar


--



closer to home....

Bangko Sentral okays peso-yuan spot market | Inquirer Business





to be continued....

[uls]

Reserve currency status doesn't last forever

Trump's obsession with solving the US trade deficit will only accelerate the decline of the dollar's reserve currency status




--


Considering US arrogance

The US isn't going to let China overtake them without a war

That's what China's preparing for






-end-

[c_cube]

Dami ko natututunan kay uls dito. Dun sa economy talk kahit anong basa ko, nose bleed.

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[uls]

Dami ko natututunan kay uls dito. Dun sa economy talk kahit anong basa ko, nose bleed.

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Hehe

Thanks for reading

[kagalingan]

laki na talaga inaasenso ng china... so mag-aaral na ako chinese para kaibiganin ko din yung magandang chinawoman sa ongpin na may tattoo sa likod ng binti.... ang kinis talaga..

sana talaga magkaroon season 3 marco polo.... inaabangan ko si hundred eyes...

[A121]

Reserve currency status doesn't last forever

Trump's obsession with solving the US trade deficit will only accelerate the decline of the dollar's reserve currency status




--


Considering US arrogance

The US isn't going to let China overtake them without a war

That's what China's preparing for






-end-

Reminbization and wallet diplomacy hehe

Saan mo pala nakita yung graph?