This guy appears to be a bit of a nutter, in this video he claims China's incredible economic success is because of their adoption of Christianity.
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.
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.
I found a YouTube link in your comment. Here are links to the same video on alternative frontends that protect your privacy:
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.
That's my read on this as well. If China is dumping assets at a loss, they clearly see this as being very urgent.
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)
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
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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why are euros stupid? (not the people)
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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.
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.
Wouldn't be surprising that they would avoid sanctions by requiring people to trade in Yuan instead of accepting USD/EUR. It's a pretty normal thing in geo politics.
I found a YouTube link in your post. Here are links to the same video on alternative frontends that protect your privacy:
