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Chinese Money Flees the Western World
(www.wsj.com)
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this post was submitted on 24 Jul 2023
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I wonder...
How much total value (liquid, real estate, financial instruments, commodities) that are part of the US economy are owned by Chinese nationals? What would happen if they started just selling it all and selling the currency to American holders of foreign currencies?
What if they did this as the BRICS currency comes online?
What if they sold all their US commerical real estate holdings?
I get the feeling the USA is about to experience a very rapid decline in the run up to 2030.
We're already seeing coastal housing markets about to collapse as insurers write them off entirely.
Can you imagine if peak oil gets validated at the same time?
This is real bad for the USA. Let's hope the solution isn't Kissingerian.
I wasn't aware of BRICS currency plan and that sounds huge. Anybody have anything I could read in more depth on that?
I don’t have any specific articles but you could look at geopolitical economy report.
I saw that post about Algeria offering $1.5bn to underpin the BRICS bank and couldn't help but think what they could've done with Qaddafi's support, too. Murdered just before his dream would come true? Or will the US put a stop to this latest effort?
I don't see how it's possible, this time. It's easy to isolate e.g. Nkrumah or Qaddafi, but when 30%+ of global GDP has a public end united plan to de-dollarise…
I think we're not far off finding out just how delusional are the US imperialists. It's now or never for them. Are they willing to gamble all life on earth for a chance at a few more decades of capitalism? Or will they accept that this is the start of their undoing and there's no coming back?
What does acceptance even look like?
Maybe in a negative sense? Like not nuking anywhere. I can't see acceptance being much more than that. I'm hoping that with the time and space that BRICS provides by dedollarising, the western left gets it's act together and prevents the imperialists from causing too much damage. Got to remain optimistic, however dire it looks.
Last time I tried to game it out I got denigrated for fantasizing.
It needs thinking about. To be able to respond to whatever is coming next. There are just so many variables so a big part of it will always sound like a fantasy! The best we can hope for is working out a range of scenarios and hoping for the best.
At this rate, climate change might do for the western world before a revolution. The temperature on land and in the ocean, fires everywhere. Ice caps are melting so fast this year that the last time we saw this little ice was over 7 million years ago, according to Xitter (I believe the X is pronounced in the Chinese way, like the X in Xi).
Whatever the imperialists have up their sleeves better not involve logistics because their chances of pulling it off are dwindling by the day. Not that this is anything to be pleased about in general.
Depressing but I think the answer to this is yes, absolutely.
It's pretty revolting that Gaddafi is dead and Libya lies in ruins and Sauds are now doing exactly what he died for.
Yeah, this looks like a start of a disaster for the US. As I recall, China ended up making huge investments into US after buying up a bunch of US bonds in 2008 to bail US out. If all that investment is reversed that's going to hit hard. It's also not clear who else would even be in a position to make a similar kind of a bailout this time around.
How funny would it be if the BRICS bank decided to make a bailout offer in exchange for disarmament
There is 0 shot that will ever happen, if our government ever considered accepting that deal the MIC would pull off a coup in record time
:chef's kiss: