this post was submitted on 28 Jan 2024
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Class War (lemmy.world)
submitted 9 months ago by TokenBoomer@lemmy.world to c/politicalmemes@lemmy.world
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[–] Crass_Spektakel@lemmy.world 0 points 9 months ago (1 children)

Talk like an adult, at least if you are one.

How well other currencies work we see in the Russia-India Trade Relations. Russia must accept India Rupies for which the Russians can not buy one single thing they actually need. And the Renminbi from the Chinese are forced upon them at an exchange course so far from reality that it is easier to buy dollars on the black market for Russia. Iran and Russia do not even trade in money anymore as both currencies are so volatil and non-usable that they now do barter trade.

[–] Dogyote@slrpnk.net 1 points 9 months ago (2 children)

Why are you such an ass? If you're actually trying to teach me something then you're failing miserably due to your attitude. TaLk lIkE aN aDuLT, ffs. Who do you think you are?

Anyway, for any curious readers who have, for some reason, dived this deep into this comment thread: Here's some relatively recent shit from JP Morgan that doesn't quite line up with the snark my new friend is regurgitating. There may be subtle signs that de-dollarization is beginning, for example:

...some Indian refiners have begun paying for Russian oil purchased via Dubai-based traders in dirhams, while others are considering doing so in yuan. Saudi Arabia is reportedly exploring the acceptance of payments in other currencies. In addition, major Russian commodity producers have started issuing bonds in yuan. In September 2022, state-owned oil company Rosneft made a public offering of 10 billion yuan in bonds, followed by a second tranche of 15 billion yuan in March 2023.

There's a bit more in the article, but where there's a will there's a way. It'll take awhile, but global dollar dominance is on its way out.

[–] Dogyote@slrpnk.net 1 points 9 months ago

Not sure why this was removed from the thread, but in case anyone was curious:

The rules were definitely made and were accepted by most of the world for awhile. That is currently changing, to what, we don't know. Yes, the Dollar and Euro are stable for now, but other major players in the world are uneasy with the way sanctions are being used, thus they are actively seeking to undermine this regime.

Hey so maybe stop being a dick too? This discussion really isn't that exciting.

[–] Crass_Spektakel@lemmy.world 0 points 9 months ago (1 children)

Why are you such an ass?

Aw, did my little Friend just met someone who is not impressed by his angry foot stomping? How cute...

[–] Dogyote@slrpnk.net 1 points 9 months ago (1 children)

What angry foot stomping? If anyone is angry and stomping it's you. You started out hostile for no reason whatsoever. Plus you had one of my comments removed that called out your behavior. Very petty.

[–] Crass_Spektakel@lemmy.world 0 points 9 months ago

This is mildly interesting.