BRICS

[MountainGirl]

Couldn't find the thread already talking about BRICS, sorry -

Have any of you heard about the August summit?

Source is R/T - so who knows.

~~~~~~~~~~~~~~

‘BRICS planning to introduce new trading currency backed by gold at August summit’

‘Gold standard will be a great benefit to strengthening single currency’

‘41 countries have applied for BRICS-membership’

Source: RT / Russian Embassy

23819
(click for bigger pic)

[Ricekila]

News to me ?

[Mad Trapper]

23820

[Inor]

I have been warning about it for several months.

Although this week India is starting to have some misgivings about it.

[Dwight55]

When I see or hear about things like this . . . I truly do get concerned . . . and I wonder how and if it will affect me.

Then I go back to the famous (though I don't recall who said it) quote about living.

"There are two great rules to adopt concerning living: 1) don't sweat the small stuff . . . and 2) everything truly is small stuff."

May God bless,
Dwight

[MountainGirl]

I have been warning about it for several months.

Although this week India is starting to have some misgivings about it.

Right, and I looked for your thread...if you can bump it up I'll delete/merge this into it.

Do you recall what India's misgivings are based on?

[Slippy]

When I see or hear about things like this . . . I truly do get concerned . . . and I wonder how and if it will affect me.

Then I go back to the famous (though I don't recall who said it) quote about living.

"There are two great rules to adopt concerning living: 1) don't sweat the small stuff . . . and 2) everything truly is small stuff."

May God bless,
Dwight

Dang, thanks Dwight for bursting my bubble; All of my life I've been telling people that the 2 rules for living are;

Rule 1. Slippy is always right
Rule 2. If Slippy is wrong, see Rule 1

:lost:

[T-Man 1066]

When I see or hear about things like this . . . I truly do get concerned . . . and I wonder how and if it will affect me.

Then I go back to the famous (though I don't recall who said it) quote about living.

"There are two great rules to adopt concerning living: 1) don't sweat the small stuff . . . and 2) everything truly is small stuff."

May God bless,
Dwight

Don't sweat the petty things, and don't pet the sweaty things! :dirtyoldman:

[red442joe]

Yous guys are all deviants, LOLz!
As fer gold standard...Glen Beck talked about it today...the dollar will positively crater if an alternate, gold backed, standard is created.

Joe

[Inor]

Right, and I looked for your thread...if you can bump it up I'll delete/merge this into it.

Do you recall what India's misgivings are based on?

I am sure it is because India and China are in a pissing match over a bunch of other stuff (territory, economic competition, etc.). I am also reasonably sure they will work out whatever differences they have before their meeting on 8/20. I am thinking this is more for "show" than actual substance.

But one thing to keep in mind just to keep some perspective...

If you are against "One World Government"/"Globalization"/"World Economic Forum" etc., then BRICS is actually something to be happy about in the near term. Anything that reduces the power of any single superpower (the U.S. included) is a good thing. Of course, I would prefer that China and Russia were not allied in this, but that is still a hell of a lot better than China, Russia and the U.S. all being allied. So I look at it as "half a banana is better than none".

[Jester-ND]

Not for nothin, but I did see a hispanic male wearing a BRICS t-shirt when I was purchasing 4th of July fireworks, I found it funny.

[MountainGirl]

I found the earlier BRICS discussion - with Inor's warnings & thoughts.
It's all in the "Best Guess re Cash" thread.

https://theoutdoortradingpost.com/showthread.php?20784-Best-guess-re-Cash

[Prepared One]

I am no financial genius, but it seems to me most of the world is tired of being controlled by the us dollar. They are tired of being sanctioned by the US every time they don't go along with Washington's dictates. Do some still need to hide behind our coat tails? Yes, but they are looking to get out from under our thumb in some way. India, Russia, and especially China, would love to step into that role. Anyway they can weaken the dollar, and thus, our control and our power, they will do it.

[StratBastard]

It will be very interesting to see how a new gold-backed currency, if embraced globally, might undermine plans for introducing the CBDC.

[red442joe]

It will be very interesting to see how a new gold-backed currency, if embraced globally, might undermine plans for introducing the CBDC.

I can see governments dealing in gold backed currency, yet requiring the peasants to use CBDC's...

Joe

[BucketBack]

Just heard that India is stopping the export of most rice types.India supplies 40% of the world's rice.

Food prices will be on the rise and Buttwiper will raise prices

[shootbrownelk]

I am sure it is because India and China are in a pissing match over a bunch of other stuff (territory, economic competition, etc.). I am also reasonably sure they will work out whatever differences they have before their meeting on 8/20. I am thinking this is more for "show" than actual substance.

But one thing to keep in mind just to keep some perspective...

If you are against "One World Government"/"Globalization"/"World Economic Forum" etc., then BRICS is actually something to be happy about in the near term. Anything that reduces the power of any single superpower (the U.S. included) is a good thing. Of course, I would prefer that China and Russia were not allied in this, but that is still a hell of a lot better than China, Russia and the U.S. all being allied. So I look at it as "half a banana is better than none".

That's what she said.

[MountainGirl]

Just heard that India is stopping the export of most rice types. India supplies 40% of the world's rice.

Food prices will be on the rise and Buttwiper will raise prices

Add that to Putin halting Ukraine grain exports (and blowing up grain depots) - and prices are really gonna fly.

[Box of frogs]

Location
Out in the woods
Posts
707

Ranks Showcase
Interactor

Post starter

Total Ranks: 2

Thanks
1,927
Thanked 2,264 Times in 647 PostsFeedback Score
0
Quote Originally Posted by Inor View Post
We will have some direction to a lot of your questions in August. That is when the BIRCS people have their big powwow. If they really do come up with some kind of combined currency backed by a basket of gold and oil, it could get real interesting.



I think Brazil and China hold that back.
Isn’t China the superpower of currency manipulation and Brazils economy was in the toilet 5 years ago and is barely hanging on to the rim currently.
I’m not even sure how S.A. got included in the conversation with the other countries other than their mining exploration.

I’d be hesitant to rush into any new world currency where China and Brazil had any influence.
Maybe I don’t understand the situation with BRICS well enough.
BoF

[Box of frogs]

We talked about BRICS here very briefly

https://theoutdoortradingpost.com/showthread.php?20784-Best-guess-re-Cash-BRICS&p=254565#post254565

[MountainGirl]

We talked about BRICS here very briefly

https://theoutdoortradingpost.com/showthread.php?20784-Best-guess-re-Cash-BRICS&p=254565#post254565

Thanks froggy box :)

[Box of frogs]

Just heard that India is stopping the export of most rice types.India supplies 40% of the world's rice.

Food prices will be on the rise and Buttwiper will raise prices

https://www.cnn.com/2023/07/20/business-food/india-rice-ban-hnk-intl/index.html

Going to be tough on 3rd world types where rice is the main staple in diets.
Americans eat bread and corn products, African, Asians, sub Asians are the bigger consumers.

India has had a shit ton of rain this year. I work with an Indian who owns property back home.
His extended family plant rice and he said this year is a bust.