Kevin Lane
Galvanizer
The Trumps & Elon tweets thread (Had to make this since it's never ending)
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Oracle
Emperor
Juggernaut
Elon Musk has made yet another scorching remark against philantropist George Soros, saying that his "hatred of humanity includes Israel".
The billionaire added a screenshot of a news report on X about the Israeli ambassador to UN criticising Soros for funding pro-Hamas NGOs. Along with the post, he wrote: "George Soros’s hatred of humanity includes Israel btw".
Read more here
The billionaire added a screenshot of a news report on X about the Israeli ambassador to UN criticising Soros for funding pro-Hamas NGOs. Along with the post, he wrote: "George Soros’s hatred of humanity includes Israel btw".
Read more here
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Oracle
Irony is that Soros is Jewish
But I thought Elon was recently more concerned about Jeff Bezos ex-wife making large donations to similar outfits as Soros.
Kevin Lane
Galvanizer
Not everything is out there to be read! Most important things have to be read between the lines! Arg will be "Bali Ka Bakra"!
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Oracle
That's the part I don't get. What dedollar burden are you talking about? Can you explain that.
Because afaik other than Russia and China to some extent nobody else has joined the de$ bandwagon. There's talk that more will join but the best that can be done is barter between countries which is cumbersome.
Kevin Lane
Galvanizer
When de-dollarization increases pace, value of dollar will reduce obviously. US is dumping dollars to Argentina which will eventually suffer the consequences of Dollar devaluation.
Russia and China are nor pioneers of De-dollarization efforts from outside US. India and Japan are. (Shinzo Abe coined term Indo-Pacific, and was proponent of De-dollarization, QUAD). BRICS+MENA+Japan are all on to it now. Even large part of US establishment also sees Dollar devaluation as inevitable as increasing debt is putting unsustainable strain on their budget.
International trade will happen increasingly in local currencies in future.
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Oracle
You are making one big ass assumption here. I don't see how the de$ process will increase pace among more countries. It's not clear to me why they would want to do that unless there is a risk of their country being sanctioned. Which applies only to a few countries.
Understood
I was not aware Abe was a proponent of de$. Surprising that an American ally would be in support. Quad, yes.
As for pioneers of de$ it would have to be Europe. Before the Euro and after. The most serious contender to $ hegemony has to be the euro. Twenty years ago there were high expectations that euro would compete with the $ on an even footing as the euro zone had a larger comboned GDP than the US.
In reality the euro took away just 20% of world trade from the $ and that was it. The $ still manages 60% of the worlds transactions
This one is hard to call. They keep kicking the can down the road.
Only with complimentary economies. Russia & China is one example.