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Can you even imagine how happy putin is with his bitch?
I am starting to think about that Trump just learned what a tariff is during this election cycle. Still has no idea how they work, what their purpose is, when they should be used, nor how they impact local and global economies but, gosh darn it, if he isn't excited to show off his new knowledge.
Maybe if they have him write out the word "TARRIF" on a piece of paper and put that paper on the white house fridge, he can be proud of it everyday and be able to move on to his next vocabulary word.
Remember, when he uses the "nobody knew this" that actually means he didn't know it. And he says it a lot.
Because in his mind
He is the only person with any value
Everyone else is a lamb to the slaughter unless he finds them useful.
I don't know about "with any value". I think he just thinks he's the only person. And the other people are...something else. Like people, but not.
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Relearned, maybe?
He was also really big on putting tariffs on everything out of China in the 2016 election cycle.
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It's like he's trying to kill the US dollar. Nobody who was actually trying to protect our currency would be making these moves.
It's not a shocker why all the cryptobros are behind him either, because that's their goal, too.
But I mean god damn it is really hard to exaggerate how stupid and easily manipulated Trump is.
No "like", he is. Russia and China want to devalue the dollar and replace it as the world currency.
Obviously Russia is unlikely to achieve that, but I'm sure China encourages the use of RMB in their global operations, like in their belt and road projects.
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The fiat currency cannot be discussed in public. It's mystery maintains it's real value.
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The bizarre Republican project of burning America to the ground, because they love it so gosh darn much, continues apace.
They falsely assume everyone else loves and covets it as much as they do.
For those with enough wealth, it's a win-win. Either the dollar stays strong and you continue to trade assets/stocks/bonds accordingly, or it craters and you invest in cost-competitive labor on par with India and China.
In the latter case, while foreign goods are priced out of reach, a booming manufacturing sector will come in and "save the day" in states with poor worker protections/rights. The real magic trick is making sure you (the 1%) are in the room when the decisions are made to hold or fold before the general public knows anything about it.
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If a trading bloc abandons the USD, that means they are less interested in trading with the US. Slapping a tariff in them means that they will be even less interested.
If a trading bloc abandons the USD, that means they are less interested in trading with the US.
Not really. It could mean that they just want a just and fair trading system not ruled by a monopoly on green paper with slavers on it.
Are you seriously saying that the capitalists from BRICS countries are interested in justice, fairness, and cancelling slave owners as opposed to their own economic self interest while jostling for position with western capitalists about who should be higher in the pecking order of exploiting the global working class? Because if you're serious about that, I would love to trade you some magic beans for your cow.
Why do I get the feeling Trump doesn't know that tariffs can go higher than 100%? Nobody tell him.
I think in his head, 100% tariffs mean that other countries give the USA goods for free, or something like that.
No he's thrown 2000% tariffs around at least once in the last few months. Fortunately for all involved he seems to have stopped doing that and switched to something a tiny bit less stupid.
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I've said it before and I'll say it again: the world needs a neutral reserve currency, not one issued and controlled by whatever country happens to be the dominant superpower.
I feel like this doesn't solve much of the things you think it would.
Also, capitalists will never agree to this. They like having their own currencies cause they can manipulate them.
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Who would issue it? What would it be backed by? Gold is globally valued due to its material value, but good luck getting your local coffee place to take it.
Congratulations, you've stumbled upon the one place where cryptobros would have a point if they weren't mostly trying to make their "currencies" be investments rather than actual currencies.
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It would have to be issued by some world central bank.
Money doesn't need to be backed by anything, necessarily. Or, I guess you could say money is "backed" by all the goods and services available to purchase.
Not trying to be a prick; here for discussion. Wherrrree do we actually put central bank? I guess that maybe matters less than staffing the thing?? Obviously not an easy thing to do overnight but man we'd need to have like, serious cooperation and transparency to do that proper. Maybe not impossible though!
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Gold. It used to be gold.
Sounds like you want the gold standard back.
No, I don't want that.
What is the difference between the gold standard and a neutral reserve currency?
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This either means the US economy will suffer .... or America will fight back violently to force others to follow their rules
Either way, someone, or everyone is going to suffer
Por que no los dos?
Guys don't you see how much the economy will grow?
If it drops 50% it will be a 100% growth once it's back where it was. That's like stable genius!
/s
BRICS, Canada and Mexico should be making a trade treaty right now, before Trump even takes office.
Considering R in BRICS stands for russia, no, they certainly shouldn't.
I don't know if you noticed, but the B stands for Brazil and those 2 countries aren't exactly buddy-buddy. Treaties are more than their constituent members.
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Dumb dumb dumb dumb
"If you don't listen to me I'll.. "
checks notes
"...tax my citizens even more!"
Me 6 months ago: "Well at least inflation isn't as bad as it was in the Weimar Republic...." Me now: "uh oh"
I don’t think the BRICS are interested in giving up on the dollar. Two of those countries have some of the biggest dollar reserves there are outside of the US.
I think they’re more interested in bilateral trades/payments using their own currencies.
They absolutely are - the non-American aligned countries are afraid sanctions would prevent their ability to trade at all and want a better medium for exchanging goods. Everyone has seen the damage sanctions caused to Russia and are afraid of what might happen to themselves.
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this post was submitted on 30 Nov 2024
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