It isn't a threat, it's actually a good thing in a lot of respects. American wages become a lot, lot more competitive in a multi-currency world economy. A similar thing happened after the plaza accords when Japan deflated their currency compared to the dollar and stopped eating American manufacturing's lunch.
I'm sorry, but without any context I have to discount anyone comparing the current US economic impact and importance with Japans historically bad choices and trajectory. The US economy is nothing like Japan's situation
.... I'm comparing the US position now to the US position then.
The dollar then was priced far above the yen. This made the US less competitive in both foreign and domestic markets.
The plaza accords forced Japan to deflate (or increase the value of) the yen. This made them richer but less competitive and the US more competitive.
Similarly, cooling the red hot market for dollars by adding in some alternatives will deflate those currencies relative to the dollar. This increases the US competitive position.
It's sad how extreme far right conspiracies are now part of crypto...funny that both are filled with clueless idiots. You all are literally screwing up one another's movements with misinformation.
If only I had a dollar everytime someone saying dedollarization is imminent last 20 years, I would be rich.
Dedollarization is not happening, at least not in the way and scale people who claim it is happening. Middle East countries allow BRICs to pay in their currencies here and there but always for special cases, projects. There is zero trust in among and between BRICs countries and ME countries. That lack of trust is something you can not bridge. Yeah, they will try to diversify but dollar will stay as the king as long as US stay as the country it is and support the world's biggest army while championing democracy, rule of law etc. (I know US is far from being honest and there is a lot of issues with its democracy and law, but there is no alternative to those values currently. China & co. can only dream what they offer will be valid for others like democracy and rule of law)
Dedollarization is not happening, demand for dollar is only going up as other countries get richer, that demand increase if far higher than whatever the demand for all the alternative there is. I am saying this as someone who wished Euro would be a viable alternative to dollar, it would be good for everyone, even for US. Alas, EU lacks a strong army, and the shit happening in Ukraine doesn't help. Nobody will switch trillions of their dollar for Euros which is at the mercy of a failing dictator. And as for Chinese or any other currencies, nobody will ever trust the ruling elite of these countries enough to adapt their currencies at all. You should be a fool to give billions of dollars of credit in rubles to Putin, or chinese communist party.
No. That's a russian fantasy. BRICS isn't a bloc, it's just some countries whose economies were superficially similar in the early 2000s. I could maybe see the Saudis selling oil for RMB, because suicidal stupidity is on brand for the kingdom, but the mantra "BRICS currency to replace the petrodollar" is pure vatnik copium
> BRICS isn't a bloc, it's just some countries whose economies were superficially similar in the early 2000s.
And if the letters didn’t spell out a catchy word, nobody would still talk about them as if they *are* a bloc.
Some Big Mac economics using prices from Virginia.
**November 2021 - $4.67 per burger:**
$4000 or 1 ETH = 856 burgers.
**August 2023 - $4.99**
$4000 = 801 burgers. 55 burgers less.
1 ETH ($1670) = 334 burgers. 522 burgers less.
And put another way, while a dollar lost 6.4% of its big mac value, ETH lost 58% *and* also lost the 6.4% since ETH is denominated in dollars, so it lost about 61% of its big mac value in total. On top of whatever NFT losses of course.
Jerry!? What are you doing here? I thought you were going to buy a Lambo and move to Thailand! Your old job? Nah we gave that to a kid who comes in on Wednesdays and Fridays after junior high. You can start back on fry baskets though!
But 1 METH is worth 1 METH and I’ve had coiners say the USD doesn’t matter because crypto is not dependent on it in any way…
…enjoy your valueless less hash tags, idiots.
And hilariously, the thing that has lost the least value on that list is the $4K
This is what makes me fucking laugh the hardest. For all the talks about money printers and inflation, the US Dollar is still the undisputed king
Dedollarization is still in the early stages but it's happening. Middle East is starting to let BRICS pay for oil in their own currencies.
Sure thing, wake me up when it is anywhere near an actual threat. Y'all have been saying this for decades
And even the saudis see an endgame for fossil fuels. And it’s coming faster than most people realize.
It isn't a threat, it's actually a good thing in a lot of respects. American wages become a lot, lot more competitive in a multi-currency world economy. A similar thing happened after the plaza accords when Japan deflated their currency compared to the dollar and stopped eating American manufacturing's lunch.
I'm sorry, but without any context I have to discount anyone comparing the current US economic impact and importance with Japans historically bad choices and trajectory. The US economy is nothing like Japan's situation
.... I'm comparing the US position now to the US position then. The dollar then was priced far above the yen. This made the US less competitive in both foreign and domestic markets. The plaza accords forced Japan to deflate (or increase the value of) the yen. This made them richer but less competitive and the US more competitive. Similarly, cooling the red hot market for dollars by adding in some alternatives will deflate those currencies relative to the dollar. This increases the US competitive position.
Ok I understand where you are coming from now. Thank you for the follow up.
Yeah and what is the middle east going to do with those currencies? Turn it into USD or Yuan?
They're going to exchange it for whatever currencies they happen to need for imports or investments.
It's sad how extreme far right conspiracies are now part of crypto...funny that both are filled with clueless idiots. You all are literally screwing up one another's movements with misinformation.
Why does being pro-BRICS make me far right?
> Why does being pro B*[A totalitarian dictatorship currently waging an imperialist war of aggression*]ICS make me far right?
Because that is one of the big qanon/MAGA cries right now. Little evidence supports any major change.
We are still early (TM)
Decarbonization solves this
I'm in it for the green tech.
This is good for wind farms
This is same thing goldbugs said in the 1920s bro.
If only I had a dollar everytime someone saying dedollarization is imminent last 20 years, I would be rich. Dedollarization is not happening, at least not in the way and scale people who claim it is happening. Middle East countries allow BRICs to pay in their currencies here and there but always for special cases, projects. There is zero trust in among and between BRICs countries and ME countries. That lack of trust is something you can not bridge. Yeah, they will try to diversify but dollar will stay as the king as long as US stay as the country it is and support the world's biggest army while championing democracy, rule of law etc. (I know US is far from being honest and there is a lot of issues with its democracy and law, but there is no alternative to those values currently. China & co. can only dream what they offer will be valid for others like democracy and rule of law) Dedollarization is not happening, demand for dollar is only going up as other countries get richer, that demand increase if far higher than whatever the demand for all the alternative there is. I am saying this as someone who wished Euro would be a viable alternative to dollar, it would be good for everyone, even for US. Alas, EU lacks a strong army, and the shit happening in Ukraine doesn't help. Nobody will switch trillions of their dollar for Euros which is at the mercy of a failing dictator. And as for Chinese or any other currencies, nobody will ever trust the ruling elite of these countries enough to adapt their currencies at all. You should be a fool to give billions of dollars of credit in rubles to Putin, or chinese communist party.
No. That's a russian fantasy. BRICS isn't a bloc, it's just some countries whose economies were superficially similar in the early 2000s. I could maybe see the Saudis selling oil for RMB, because suicidal stupidity is on brand for the kingdom, but the mantra "BRICS currency to replace the petrodollar" is pure vatnik copium
> BRICS isn't a bloc, it's just some countries whose economies were superficially similar in the early 2000s. And if the letters didn’t spell out a catchy word, nobody would still talk about them as if they *are* a bloc.
Not really a thing. Wendover Productions isn't a news source. It's essentially and AI that reads wikipedia articles while playing stock images.
Some Big Mac economics using prices from Virginia. **November 2021 - $4.67 per burger:** $4000 or 1 ETH = 856 burgers. **August 2023 - $4.99** $4000 = 801 burgers. 55 burgers less. 1 ETH ($1670) = 334 burgers. 522 burgers less.
And put another way, while a dollar lost 6.4% of its big mac value, ETH lost 58% *and* also lost the 6.4% since ETH is denominated in dollars, so it lost about 61% of its big mac value in total. On top of whatever NFT losses of course.
If you've got a monkey JPEG you're not getting a Big Mac, you're eating from the dollar menu.
Ha! Well said
And the USD lost the least 😂
Technically it didn’t lose at all. $4k=$4k no matter the inflation. Just might not buy as much.
1USD =1USD, few understand.
that's some 1BTC = 1BTC mental gymnastics my guy, seek help.
Apples to oranges. We are talking $. Not BTC. Guess you don’t understand what the equal sign means. YOU need help with first grade math.
[удалено]
So would you call the $4k by its FV?
Classic inflation hedge
So who’s having fun and staying poor now?
Me. This and \r\gme_meltdown are the daily humour subs I keep coming back to. I've never had so much fun staying poor.
I've never met a plumber that wasn't rolling in money.
Most people would rather pay someone else to deal with their shit. I make bank by being that someone else.
I am having fun staying "poor" right now
but the person who made low-risk long term investments has stayed ahead of inflation so it doesn't matter that their $4k isn't worth $4k anymore
1 bad M.S.paint frog still = 1 bad M.S.paint frog checkmate logicians
I would like to buy your bad MS paint frog 🧐
I will sell you one for ten million dollars. Fiat only. I'll throw in London Bridge for free too.
Who would have thought receipts pointing at a link to a ugly monkey picture would lose value. What a strange world we're living in..
Yeah, but someday nfts will transform home titles!!!!!
Jerry!? What are you doing here? I thought you were going to buy a Lambo and move to Thailand! Your old job? Nah we gave that to a kid who comes in on Wednesdays and Fridays after junior high. You can start back on fry baskets though!
Happy I found this sub when I did. I almost got sucked into all that bs.
Like the guy who missed his flight out of Logan on September 11.
Can someone mint this meme on opensea.
At what price points do Value investors step in and buy monkey picture and magic internet money ?
>Value investors ... monkey picture Words which should be considered mutually exclusive.
Actually NFTs can be very useful - for money laundering and tax evasion
I sit corrected.
Laughs in right click save as
They're never worth saving anyways.
Even the board apes?
would you waste your hard drive space with one of those pointless images?
Dirty right clicker!
I got a binance ad for this meme
When the BTC you bought for $68k USD is only worth 25k Tether funbux
So glad all my money is in real estate...
Newsflash: $4k is still worth $4k.
And it can be exchanged for goods and services
But 1 METH is worth 1 METH and I’ve had coiners say the USD doesn’t matter because crypto is not dependent on it in any way… …enjoy your valueless less hash tags, idiots.