BRICS launching a new global currency for trade
settlement outside of the US$ is timely. Saudi Arabia is raising oil
prices in tandem. All this means inflation in the USA is going to spike
again. The Fed is having to increase interest rates to squeeze liquidity
to save the system. Banks will be affected and businesses will close
faster and faster. Yellen would probably have to run to China again.
Life
in the USA is really getting tough and intolerable. I just happened to
catch a video on Youtube showing thugs raiding a mobile phone shop and
snatching expensive items and stuffing them into large bags, as if there
is no law against such acts. Business owners are said to be advising
security and other staff not to attempt to stop those thugs commiting
daylight robbery. Probably insurance will pay for it. Again, other
people's money comes in handy.
What is happening in the USA is
grotesguely ugly indeed. Crime like this is happening right before
people's eyes. The law is nowhere to be seen. I understand that shop
lifting of small valued items is no longer a crime in the USA. Neither
is sniffing it right in front of police stations. Drug addicts are not
afraid, because getting arrested, sent to the police station and are
released immediately is just a formality. I don't know why. Maybe it is
becoming legal.
And the biggest take away must be the discovery
of cocaine in the White House. When asked about this while meeting the
press, Joe Biden just gave a long silly smile, unable to answer, and
grinning like a Cheshire cat. 'Meow - meaning I'm in it buster. Give me a
break will ya!'
Anonymous
6 comments:
Even before the BRICS grouping's announcement of a new currency, Latin American countries were already formulating their own plans to introduce a common currency for themselves, in the same format as the EU.
Either way, Latin America is dead serious about ditching the US$, and even if the BRICS's idea needs time to refine and take hold, BRICS's countries can trade more freely with the Latin Americans if they adopt a common currency.
And with Latin America using their own common currency, Asian countries giving support to the use of the Chinese Yuan more widely, what does all that mean to the US$?
Trump openly accused the Biden family of being involved in the mystery of the cocaine found at the White House. Now, of course they are spinning the story about where exactly the cocaine was found, muddying the waters as much as possible and eventually getting investigated to Timbuktu, lost in transit. Case close.
Many are asking, who had such audacity to smuggle Cocaine into a place as tight as the White House and why risk such a move when it can be freely done elsewhere? Nothing logical and nothing fits. Think outside the box!
2 face India is throwing a spanner in the works by not supporting a BRICS currency but instead wants to make its rupees more acceptable and international.
Hilarious and pompus from India . Why Russia is pushing them to use Chinese yuan to pay for its oil?
China despite being the biggest trading partner with most countries does not even boast and talk this way.
Now the Trojan Horse is showing its legs. India in BRICS is nothing but trouble.
From day one, it is expected to be the troublemaker. India is in the QUAD for goodness sake. And QUAD is for the purpose of confronting China.
India is playing the Russia vs USA game and is having the cake and eat it. Now even trying to play Russia vs China, over Russia's favouring the Yuan for oil deals that it finds hard to swallow. Now what was Modi's instruction when he visited Washington recently? Right before BRICS meeting in South Africa. Not difficult to guess.
Iran should replace India as the 'I'in BRICS. India means trouble to BRICS.
More and more Muslim countries are joining BRICS. India is anti Muslims.
Foxconn Cuts Its Loss In India
Taiwan’s Foxconn said on Monday it has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi’s chipmaking plans for India.
Foxconn, the world’s largest contract electronics maker, and Vedanta signed a pact last year to set up semiconductor and display production plants in Modi’s home state of Gujarat.
“Foxconn has determined it will not move forward on the joint venture with Vedanta,” the electronics maker said in a statement, without elaborating on the reasons.
Foxconn said it had worked with Vedanta for more than a year to bring “a great semiconductor idea to reality”, but they had mutually decided to end the joint venture and it will remove its name from what now is a fully-owned Vedanta entity.
Modi has made chipmaking a top priority for India’s economic strategy in pursuit of a “new era” in electronics manufacturing and Foxconn’s move represents a blow to his ambitions of luring foreign investors to make chips locally for the first time.
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