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[–] yogthos@lemmygrad.ml [S] 61 points 2 years ago* (last edited 2 years ago) (3 children)

lol that is a nutty take, those charts he has kinda reminded me of this 😂

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[–] iByteABit@hexbear.net 22 points 2 years ago

This is what forcing Edge on your users does to people kids, use Linux instead

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[–] FreudianCafe@lemmy.ml 14 points 2 years ago (1 child)

This hurts to look at

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[–] keepcarrot@hexbear.net 7 points 2 years ago

You don't like looking at 18,000 internet Explorer market share?

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[–] CarmineCatboy2@hexbear.net 14 points 2 years ago* (4 children)

Yeah I found out about him some weeks ago, and in case you haven't noticed there's bible whispers at the end of every video. He's a weirdo, but aside from the Prester John China video I'd say his takes seem mostly useful.

Youtube is filled with Gold Bugs trying to make you buy gold because China is buying it all. Meanwhile this guy is talking about how the UAE can financially back a BRICS grain exchange and how China isn't just 'selling dollars to buy gold', but subverting the entire dollar system to it's benefit. It's certainly more interesting than your usual BRICS stuff, which happens to be filled with AI videos too.

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[–] GaveUp@hexbear.net 15 points 2 years ago (1 child)

He just summarizes news articles, idk how useful that is lol

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[–] CarmineCatboy2@hexbear.net 13 points 2 years ago*

are you besmirching our holy news comm

in a more serious note the amount of content online that is AI bullshit narrating uniquely uninformative things instead of just bringing up interesting articles and commenting on what they actually say is just insane. this guy at least isn't trying to sell me on gold.

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[–] rio@hexbear.net 6 points 2 years ago (1 child)

aside from the Prester John China video I'd say his takes seem mostly useful

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[–] CarmineCatboy2@hexbear.net 3 points 2 years ago

what i can say, the shoe fit

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[–] Cochise@lemmy.eco.br 13 points 2 years ago

Thanks a lot. Found the channel a monto or so ago, and liked the takes, but can't understand the religious endings. Now everything makes sense.

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[–] HexReplyBot@hexbear.net [B] 4 points 2 years ago

I found a YouTube link in your comment. Here are links to the same video on alternative frontends that protect your privacy:

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[–] invalidusernamelol@hexbear.net 35 points 2 years ago* (8 children)

Pulling out so much bond investment at a loss is kinda spooky. The Chinese have much more reliable Intel about what the US government is planning than just about anyone else, and a massive move like that means their confidence doesn't even extend out 5 years before a conflict big enough that the Fed would wipe out any global trust in the USD.

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[–] yogthos@lemmygrad.ml [S] 32 points 2 years ago (5 children)

That's my read on this as well. If China is dumping assets at a loss, they clearly see this as being very urgent.

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[–] invalidusernamelol@hexbear.net 23 points 2 years ago (4 children)

The idea that they're forming an alternative USD market also makes sense. A majority of the world holds debt in USD and if they control enough of the supply through their own banks, it's harder for the US to force a nations hand by forcing them to trade when they can go to China for the same USD loan on better terms.

It also gives them the option of loaning out USD and requesting payment in another currency (either theirs or the domestic currency of the loan holder)

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[–] yogthos@lemmygrad.ml [S] 22 points 2 years ago (3 children)

Absolutely, and I think this is why a BRICS currency is inevitable long term. Countries outside US control can't continue using the dollar because US uses it as a weapon.

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[–] invalidusernamelol@hexbear.net 11 points 2 years ago* (2 children)

Definitely, it's ironic that dollarization basically starts with massive adoption of the dollar.

This is like the nation state version of Microsoft's the E's

Embrace the dollar

Extend it's usage in global trade through your own financial instruments

Extinguish the original dollar

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[–] yogthos@lemmygrad.ml [S] 7 points 2 years ago (1 child)

lmao

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[–] invalidusernamelol@hexbear.net 8 points 2 years ago

Possibly the only instance of that capitalist process being used for good lol

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[–] GaveUp@hexbear.net 9 points 2 years ago (1 child)

and a massive move like that means their confidence doesn't even extend out 5 years before a conflict big enough that the Fed would wipe out any global trust in the USD.

Probably just the Ukraine war right? A complete and total seizure of Russian USD assets

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[–] invalidusernamelol@hexbear.net 10 points 2 years ago

That's definitely the start, seeing it with Afghanistan and Russia made it clear that it could happen, then the decision to finally pull out of Western banks was likely decided because they see the escalation of tensions with them actually leading to something.

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[+] Droplet@hexbear.net 29 points 2 years ago* (last edited 2 years ago) (4 children)

[deleted]

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[–] Hello_Kitty_enjoyer@hexbear.net 13 points 2 years ago (1 child)

why are euros stupid? (not the people)

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[+] Droplet@hexbear.net 37 points 2 years ago* (last edited 2 years ago)

[deleted]

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[–] invalidusernamelol@hexbear.net 12 points 2 years ago

Agree there, not there is some validity to the idea of China using USD reserves to take over IMF debt. Using cash reserves to buy out debt in Africa and South America then renegotiating those loans on better terms with payment in local currency or Yuan.

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[–] yogthos@lemmygrad.ml [S] 6 points 2 years ago

Yeah, I think it's pretty obvious that BRICS isn't going to use some half baked crypto scheme as their reserve. I expect that something along the lines of Bancor is most likely.