Argentina Shuns U.S. Dollar: Will Pay for China Imports in Yuan. Let's Go, Brandon!

[GunsOfFrankEaton]

Argentina struck a deal with Beijing on Wednesday to stop using U.S. dollars to pay for Chinese imports and embrace the yuan instead.

The deal further enhances China’s rise on the world stage and the diminished role of the U.S. on a host of fronts under President Joe Biden.

-- Recession
-- War in Ukraine
-- Inflation
-- Banking Crisis
-- High Fuel Prices
-- Disastrous Afghanistan Withdrawal
-- 401K Losses
-- Inflation and Stagnant Wages Resulting in Veritable Paycut for Americans Every Month Since Pedo Installed
-- And this...

Argentina to pay for Chinese imports in yuan rather than dollars

Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country's dwindling dollar reserves.

www.reuters.com

 

[2012Bearcat]

We've been assured by everyone on the left this is nothing to be concerned about. What could go wrong with their track record?

 

[Sunburnt Indian]

What we know. 2012Bearcat, TPoke and GunsOfFrankEaton were not part of the stupid 81 million. What else we know? There was not a stupid 81 million. The US average IQ is 98, not 68. There might be a stupid 63 million and 2000 Mules who have us in our current mess.

 

[OUSOONER67]

The left prefers all those Pesos coming across the Southern Border.

 

[07pilt]

Lol

 

[LAY THE WOODY]

Lol

You would

 

[2012Bearcat]

Lol

Here let me help you out.

 

[Marocain Poke]

LOL @ the Yuan becoming the reserve currency.

 

[LAY THE WOODY]

The left prefers all those Pesos coming across the Southern Border.

Certainly fattens our POTUS pocketbook. And takes care of "hammertime Paul's" medical expenses.

 

[SquatchinPoke]

I heard China, Russia and India are making a new global currency called Brick. You guys heard of this yet?

 

[LAY THE WOODY]

Is Soros good with this?

 

[LAY THE WOODY]

LOL @ the Yuan becoming the reserve currency.

The hysterical are hysterical. Good for laughs too. 🤣

 

[Ponca Dan]

Interesting albeit frightening article on the consequences of going off the gold standard and losing reserve status. The politicians have been warned but are ignoring it all, full steam ahead!

The Impending Economic Collapse - A Cause of Current Conflict

Brazil's Luiz Inacio Lula da Silva has called on BRICS nations to create an alternative to replace the dollar in foreign trade ...

journal-neo.org

 

[2012Bearcat]

One look at the worldwide bond market reveals a disturbing imbalance. The U.S., which now has over $51 trillion in outstanding debt, has borrowed more to finance wars and programs than China, Japan, Germany, Italy, France, the U.K., and Canada combined. The American taxpayer is responsible for almost 40% of all the foreign debt in the world. And the outlook for the short and long-term future could be better.

On top of 32 trillion?

 

[07pilt]

One look at the worldwide bond market reveals a disturbing imbalance. The U.S., which now has over $51 trillion in outstanding debt, has borrowed more to finance wars and programs than China, Japan, Germany, Italy, France, the U.K., and Canada combined. The American taxpayer is responsible for almost 40% of all the foreign debt in the world. And the outlook for the short and long-term future could be better.

On top of 32 trillion?

 

[2012Bearcat]

You see that's a question, right? Care to provide some of your expert opinion on the matter?

 

[2012Bearcat]

Will you answer the question?

 

[2012Bearcat]

If what I'm reading is correct the 51 trillion is the total amount. Gotta love that 534 billion dollar interest payment.

Valued at over $51 trillion, the U.S. has the largest bond market globally. Government bonds made up the majority of its debt market, with over $26 trillion in securities outstanding. In 2022, the Federal government paid $534 billion in interest on this debt.Apr 20, 2023

 

[Medic007]

If what I'm reading is correct the 51 trillion is the total amount. Gotta love that 534 billion dollar interest payment.

Valued at over $51 trillion, the U.S. has the largest bond market globally. Government bonds made up the majority of its debt market, with over $26 trillion in securities outstanding. In 2022, the Federal government paid $534 billion in interest on this debt.Apr 20, 2023

That "debt" represents money in the private sector. There's a reason both political sides use the "debt" argument against each other. Take a look at what happened when Bill Clinton ran a budget surplus. And that was a small surplus.

 

[2012Bearcat]

That "debt" represents money in the private sector. There's a reason both political sides use the "debt" argument against each other. Take a look at what happened when Bill Clinton ran a budget surplus. And that was a small surplus.

You will need to be a little more specific in what you mean about what Happened when the government ran a surplus. From what I remember the economy did pretty well until the effects of the Community Reinvestment Act and the repeal of Glass Steagall hit.

 

[Medic007]

You will need to be a little more specific in what you mean about what Happened when the government ran a surplus.

Household savings dropped and household debt ballooned. If the government is running a surplus, that's a private sector deficit.

 

[Tulsaaggieson]

https://www.cnbc.com/2023/04/28/fir...s-regional-bank-searches-for-rescue-deal.html

First Republic set for FDIC take over. Yea this economy is doing great, lets have more debt