UAE and Saudi joining BRICS, what are your thoughts on the effects of this?

[uranium]

muahahah ok I wonder what universe you live in but ok. Time moved on, its not the 80s any more.

Lets start with this: the us banned a few things already, what happened to the prices of these goods and services thereafter?
But its a moot point, blackrock and kennedy is on board, so why a ban? They are also not stupid even if power is shifting.

I am not a time traveler, I live like you in 2023. Lol
I am telling you who is the boss now, it is not China not russia, it is USA
Even if all brics unite against USA, they cannot win.
About crypto yes you are right, it got green light from many big hedge funds like blackrock. But nevertheless USA still has the power to allow of ban it at anytime and we can't do anything about it

 

[BalnearioCamboriu]

The US and Europe even imposed the price cap on the Russian oil, of $60.

Do Russia, rest of the world, or EVEN the some of the European countries themselves - who imposed the cap - follow it? They try to get around their own sanctions.

 

[jafo]

all of the people here that worship China/Putin live in the West and have 99.99% of their wealth invested in the Wes

1. What did you use as the numerator and how did you arrive at this number?
2. What did you use as the denominator and how did you arrive at this number?

Agreed 100%
I asked my self before, if China is going to become number 1 economic soon. Why not invest in Chinese stocks. But I had to learn politics of China before i invest in it.
After some research, I figured that an unstable politics country is doomed to fail even if its economy is doing well
Have a look at Alibaba stock. All because founder criticized some politicians

https://fortune-com.cdn.ampproject....-capital-controls-investment-economy-beijing/

Rebuttal by other experts:

(1) China denies Mark Mobius' claims that its government is restricting capital flow

(2) China rebuffs billionaire investor Mark Mobius's warning that the government made it harder to get money out, report says

The United Arab Emirates (UAE), Kingdom of Saudi Arabia and Egypt are among six nations that have been invited to join the BRICS group of nations.

What do you guys think what effects it will have on the global economy?

I can only speak for myself: Probably not much, personally!

My issue isn't the USA, China, Russia, Iran, etc. My issue is banking! Although, I (maybe) solved it last year in March 2022. Unless something major happens (WWIII) it is unlikely that my international remittances will be hindered.

 

[Paul Tudor Jones]

A question to anybody that thinks BRICS currency is happening anytime soon:

If India won’t even let Chinese apps into the country, do you think they will abolish their own central bank and unite the Rupee with the RMB?

 

[FreedomSearcher]

My issue isn't the USA, China, Russia, Iran, etc. My issue is banking! Although, I (maybe) solved it last year in March 2022. Unless something major happens (WWIII) it is unlikely that my international remittances will be hindered.

Can you elaborate on this, please?

Why was it your biggest issue, and how did you solve it?

 

[BalnearioCamboriu]

If India won’t even let Chinese apps into the country, do you think they will abolish their own central bank and unite the Rupee with the RMB?

So what?

India does bussiness with China whilst "even not allowing Chinese apps remain in the country".

China deos business with India whilst "even having disputes with China over some borders"

Brazil does bussiness with USA whilst "even remaining an active member of BRICS and opengly supporting Russia".

Saudi Arabia wouldn't even answer Biden's calls in the past whilst "being an ally of USA"

USA has ramped up buying Uranium (not Iranium ) from Russia, recently, whilst "even not getting along with Russia in every possible front possible".

Turkey has talked with Ukraine, releazed the fighters of Azov whilst "even inviting Putin into the country for a meetting"

Russia will rival Turkey in Syria whilst "giving an impression that they're friends with Turkey"

 

[uranium]

So what?

India does bussiness with China whilst "even not allowing Chinese apps remain in the country".

China deos business with India whilst "even having disputes with China over some borders"

Brazil does bussiness with USA whilst "even remaining an active member of BRICS and opengly supporting Russia".

Saudi Arabia wouldn't even answer Biden's calls in the past whilst "being an ally of USA"

USA has ramped up buying Uranium (not Iranium ) from Russia, recently, whilst "even not getting along with Russia in every possible front possible".

Turkey has talked with Ukraine, releazed the fighters of Azov whilst "even inviting Putin into the country for a meetting"

Russia will rival Turkey in Syria whilst "giving an impression that they're friends with Turkey"

Reminds me of best quote in history by James Carville: "It's the economy, stupid"

 

[BalnearioCamboriu]

Reminds me of best quote in history by James Carville: "It's the economy, stupid"

If only there were 6-7 more of Kim Jong-uns in the world... one in each major country..... There'd be the order everywhere!

 

[jafo]

Why was it your biggest issue

The issue most of us seem to have here: Banks freezing funds and closing bank accounts.

how did you solve it?

Crypto! We don't exchange back to FIAT unless absolutely necessary and if it is a must, we use the Hawala system to get cash.

We do, depending on the day, a few to lots (+40) of big transactions (purchases from suppliers using crypto) per day, including Sundays and holidays. No questions asked. No invoices. No corporate BS. No regulators. No barriers to entry, etc. We receive the same number of incoming transactions from clients/buyers. Imagine trying to do this with banks and their compliance monkeys .

I get anxiety attacks just thinking about banks!

PS. I do use banks, debit & credit cards though but (only) for small amounts when a crypto debit card payment option is NOT available.

 

[FantomOffshore]

For Whom the BRICS Toll:

https://www.project-syndicate.org/c...rests-undermine-impact-by-ana-palacio-2023-08

 

[jafo]

Caveat Emptor. This Ana Palacio.

 

[JackAlabama]

The issue most of us seem to have here: Banks freezing funds and closing bank accounts.

Crypto! We don't exchange back to FIAT unless absolutely necessary and if it is a must, we use the Hawala system to get cash.

We do, depending on the day, a few to lots (+40) of big transactions (purchases from suppliers using crypto) per day, including Sundays and holidays. No questions asked. No invoices. No corporate BS. No regulators. No barriers to entry, etc. We receive the same number of incoming transactions from clients/buyers. Imagine trying to do this with banks and their compliance monkeys .

I get anxiety attacks just thinking about banks!

PS. I do use banks, debit & credit cards though but (only) for small amounts when a crypto debit card payment option is NOT available.

very smart. Welcome of living in the future already.

 

[jafo]

very smart. Welcome of living in the future already.

Thanks, Jack! That's quite a compliment coming from you, but I can't take credit for this. I arrived at this conclusion from all of you here who espouse crypto. Notwithstanding listening for more than a decade and following several "experts", including but not limited to @Cryptodad (YT), @Bitcoin_University (YT), and @aantonop (YT), it was OCT and some of its members that helped me put the puzzle together, truly pushed me to de-institutionalized, and jump off the cliff of financial institution dependency. Offline I refer to OCT as the Betty Ford clinic for bank addicts

Looking back, I wonder why it took me more than a decade, more than 3 decades if you add David Chaum & digital cash into the equation, to wake up! I mean, geez...this propaganda machine is so tough to decouple from. I now wake up every day jumping with joy to work but wondering how stupid am I really? It fvcking took me +3 decades to realize the spiderweb of deceit these Machiavellian creators spun to keep us entrapped as cogs in the wheel of their prosperity. Like WTF???!!! I thought the electrical & computer engineering curriculum was difficult. That was a walk in the park compared to this.

It's all good now! I overdosed on the Red Pills!

 

[FantomOffshore]

Looking back, I wonder why it took me more than a decade, more than 3 decades if you add David Chaum & digital cash into the equation, to wake up!

https://www.cnbc.com/2022/05/02/war...nd-25-on-all-of-the-bitcoin-in-the-world.html

 

[jafo]

https://www.cnbc.com/2022/05/02/war...nd-25-on-all-of-the-bitcoin-in-the-world.html

I don't blame the guy! If I were in his position where I could invest $5 billion OF FIAT MONEY in Goldman Sachs during the financial crisis and bail them out, I would dislike ANYTHING that rivals my status quo too. All joking aside...Actually, NOT true! I would NEVER behave like this. I'm not a hater and I wouldn't have thrown Sokol under the bus either. Warren and Charlie have wonderful qualities. I subscribe to 99% of them. There are 37.2 trillion cells in the human body. I'm bound to deviate from other humans in some instances I can see Warren's point too when viewed from the spectacles of a zero-sum game though: People are investing their money into #Bitcoin instead of Warren's ventures e.g. BRKA/B, BAC, AXP, C, V, MA, etc etc.

Furthermore, I can't even send $500K to a public company in the US for a DSPP without going through 3 to 4 months of absolute Hell!
Banks *insist* they should be the custodian blah blah blah....and when I stand my ground, compliance closes my bank account and they send me a letter: "The bank is unable to service your account and meet your expectations."

What expectations are banks referring to? Keep my money until I need it? Literally, that is the bank's original business plan.

 

[uranium]

https://www.cnbc.com/2022/05/02/war...nd-25-on-all-of-the-bitcoin-in-the-world.html

History repeats it self.
Warren buffett did same mistake with Microsoft. He has a rule; never invest in something you don't understand.
Look at Elon musk, he bought btc and made millions
Overall hats off to best investor in the world: Warren buffett
If I get to meet like a famous model or singer or actor, I would choose to have dinner with Warren buffett!

 

[Martin Everson]

He has a rule; never invest in something you don't understand.

That's why he invested in a Ponzi Scheme .

https://observer.com/2019/05/warren-buffett-berkshire-hathaway-scammed-ponzi-scheme-dc-solar/
Ok guys can we get back to thread topic or I will start zapping posts that are off topic .

 

[Radko]

Bottom line, the $ is here to stay, no dedollarisation in sight.

 

[uranium]

That's why he invested in a Ponzi Scheme .

https://observer.com/2019/05/warren-buffett-berkshire-hathaway-scammed-ponzi-scheme-dc-solar/
Ok guys can we get back to thread topic or I will start zapping posts that are off topic .

 

[Martin Everson]

lol....was not expecting that