Gold, de-dollarization, global economy

[Peter90]

visualcapitalist.com

[Zed0X]

Asia's rise is very clear in the charts...

Amen! 



Go Indonesia!

I'm surprised that Philippines is still up there. If this is true, the Government's PR team must be doing a good job I'm not putting my own country down but seeing how it's becoming heavily influenced by the US (once again) to the point that it's considered as an American colony, I'd expect lesser interest and confidence. Add to that the increasing threat to security due to the resurgence of drugs and terrorist activities.

Anyway, yeah, Go Asia. It's your time.

[DrBeer]

I'm surprised that Philippines is still up there. If this is true, the Government's PR team must be doing a good job I'm not putting my own country down but seeing how it's becoming heavily influenced by the US (once again) to the point that it's considered as an American colony, I'd expect lesser interest and confidence. Add to that the increasing threat to security due to the resurgence of drugs and terrorist activities.

Anyway, yeah, Go Asia. It's your time.

Frankly surprised by the information that "the Philippines is an American colony". I must have missed something. Please can you give more information on the following questions:
1. what is the generally accepted description of "colony" (as applied to this situation) ?
2. Can you provide arguments and facts that support the assumption "the Philippines is an American colony" ?

[Peter90]

Yes, I know... I tend to post graphics that don't refer very much to the subject of this thread... It's just that I like them and there is no better place on the forum Anyway, let's feed today this thread with something that belongs to his title!


Escobar: Will BRICS Launch A New World Order In 2024?

And that brings us to the key geoeconomics dossier: the BRICS at the forefront of bypassing the US dollar in international finance.
Last week, top Kremlin adviser Yury Ushakov announced that BRICS will work towards setting up an independent payment system based on digital currencies and blockchain.


No single currency for the foreseeable future

Ryabkov added more crucial elements to the debate, saying this week that the BRICS are not debating the implementation of a single currency:

"As for a single currency, similar to what was created by the European Union, this is hardly possible in the foreseeable future. If we are talking about clearing forms of mutual settlements such as the ECU [European Currency Unit] at an early stage of development of the European Union, in the absence of a real means of payment, but the opportunity to more effectively use the available resources of the countries in mutual settlements to avoid losses due to differences in exchange rates, and so on, then this is precisely the path along which, in my opinion, BRICS should move. This is under consideration."

The key takeaway, per Ryabkov, is that the BRICS should not create a financial and monetary alliance; they should create payment and settlement systems that do not depend upon the shifty "rules-based international order."

zerohedge.com


So, it will be a blockchain based currency - probably some sort of stablecoin - but it will be used only as a means of settlement for International trade. This BRIC currency isn't designed to replace national currencies - like the Euro did in Europe.

[Don Pedro Dinero]

visualcapitalist.com

It is not at all clear to me that this is going to happen, since in Spain a long time ago it was predicted that the population would fall due to the low birth rate of the native population, and yet the population continues to grow due to immigration and the birth rate of the immigrant population. The 2.5B inhabitants that Africa is supposed to have are going to stay there and not come to Europe? Because many of them are coming nowadays.

[Peter90]

[0t3p0t]

Asia's rise is very clear in the charts...

Amen! 



Go Indonesia!

I was surprised to see my country being on the fourth spot on that list. I thought we are still behind with our closest neighbors but based on that chart we are doing great in there so I think this just the beginning and I do hope that it will keep on climbing to see a more stronger economy despite facing some external and internal conflicts. Mabuhay!

[Peter90]

I was surprised to see my country being on the fourth spot on that list. I thought we are still behind with our closest neighbors but based on that chart we are doing great in there so I think this just the beginning and I do hope that it will keep on climbing to see a more stronger economy despite facing some external and internal conflicts. Mabuhay!

As I understand it, this is a survey asking people how they see the future of the their country,
so your countrymen seem to be very optimistic about the future.
This spirit is very important imo, because without optimism it's very difficult to build something...

Go Pilipinas! 



Today's picture is about ...The World's Top 50 Largest Banks By Consolidated Assets



... no Pilipinas there... 

[Peter90]

De-dollarization

Goldization 

[Mr. Allcrypto]

I'm not sure why this thread has no replies from other members. Probably because you just post data and graphs without commenting. In my case I think having a small percentage of physical gold is advisable for diversified portfolios, I don't think I'm de-dollarising anything. What you can buy with gold has risen a lot over the years not so much because of the appreciation of gold as because of the devaluation of the dollar, and with paper gold it is easier to manipulate the price so that it does not rise so much. But bitcoin, which is basically digital gold, has increased its purchasing power much more in proportion.

Yes, I totally agree with your point.

[Peter90]

[Peter90]

Digital (De)Dollarization?
Nation States Target Dollar Diversification

Despite the U.S. contributing approximately 25% to global GDP, the U.S. dollar currently makes up nearly 60% of global foreign exchange reserves, a significant lead over its closest competitor, the euro. However, this dominance is being increasingly scrutinized. Recent U.S. monetary policies, combined with the strategic use of economic sanctions, have prompted some nations to consider alternatives to the greenback.

In parallel, the European Union is actively working to bolster the euro’s role in international trade, aiming to provide a viable alternative to the dollar, especially in energy transactions and other key commodities. This effort is part of a broader strategy to enhance the euro’s global standing, which could further diversify currency dependencies in international markets.

Moreover, China is advancing the yuan in international trade, particularly through its Cross-Border Interbank Payment System (CIPS), challenging the dollar-centric Clearing House Interbank Payments System (CHIPS). This initiative has seen success, with a notable increase in the yuan’s share in global FX turnover and its use in commodity trade settlements, however global foreign exchange reserve balances of yuan remain small around 2.5% at time of publishing.

Inter-governmental organizations such as BRICS (comprising Brazil, Russia, India, China and South Africa), the Association of Southeast Asian Nations (ASEAN), the Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union, which collectively represent a significant portion of global GDP, are also expressing interest in using local currencies for trade invoicing and settlements. Some members have shown a willingness to trade in yuan, further indicating a shift in global currency dynamics.

Structural reforms and new settlement systems are essential for currencies like the yuan and euro to challenge the global dominance of the dollar. However, a clear shift towards reducing dollar-dependency is evident, simultaneously fueling interest in digital currencies such as Bitcoin, stablecoins, and CBDCs.

morganstanley.com

[Peter90]

A poll conducted by the Institute of Southeast Asian Studies found that 50.5 percent of respondents in the ten ASEAN member countries would choose the Asian power in 2024, while 49.5 percent would pick the United States.

This has changed from 38.9 percent and 61.1 percent, respectively, just one year ago.

[Peter90]

According to Forbes’ Real-Time Billionaires List, as of April 2, Mukesh Ambani (66) is the richest man in Asia, with a net worth of $116.1 billion. Ambani is the chairman of Reliance Industries Limited, a conglomerate that focuses not only on petrochemicals, but also textiles and telecommunications.
He ranks 11th on Forbes’ worldwide list, which is headed by Bernard Arnault & family (LVMH) with $221.8 billion, Jeff Bezos (Amazon) with $197.5 billion and Elon Musk (Tesla, SpaceX, X formerly Twitter) with $189.0 billion.

In second place - and some 32.8 billion dollars behind - comes 61-year-old Gautam Adani who is the chairperson of the Adani Group, a conglomerate that deals with businesses exporting and importing raw materials and finished goods, including coal trading, mining, oil and gas exploration, as well as ports, energy and agricultural commodities.

He is succeeded by Zhong Shanshan (69), with a net worth of $64.5 billion. Shanshan is the founder of beverages company Nongfu Spring as well as the founder of Beijing Wantai Biological Pharmacy Enterprise, a private Chinese company and major supplier of Covid-19 testing kits.

zerohedge.com

[Peter90]