India to Drop U.S. Dollar in Cross-Border Trade

[GunsOfFrankEaton]

Biden's buddies in China are loving this.

India has opted to offer its Indian Rupee (INR) as a trade currency alternative to the US dollar after it unveiled its latest "dynamic and responsive" foreign trade policy in a bid for de-dollarization.

India to drop US dollar in cross-border trade

India opts to offer its Indian Rupee (INR) as a trade currency alternative to the US dollar to the countries that are facing a shortage of dollars or currency failure, after it unveiled its latest "dynamic and responsive" foreign trade policy on Friday in a bid for de-dollarization.

www.presstv.ir

 

[2012Bearcat]

But we've been told this is no big deal by those on the left

 

[Ponca Dan]

But we've been told this is no big deal by those on the left

If @07pilt and others are right we'll know soon enough.

 

[2012Bearcat]

If @07pilt and others are right we'll know soon enough.

How so? I would think this would be an initial bump in the road, followed by a gradual decline that the inattentive do not see until it's to late.

 

[Ponca Dan]

How so? I would think this would be an initial bump in the road, followed by a gradual decline that the inattentive do not see until it's to late.

I think this is an early sign that the dollar is losing its power to control world finances. If I understand Pilt correctly he does not see that as a problem, maybe a little inflation but nothing worse. I have expressed concerns that BRICS could be a problem, Pilt doesn't see it. We'll know soon enough if he's right. I'm on the record as hoping he is right and I am wrong. I promise not to gloat if I get shown to be right.

 

[Sunburnt Indian]

But we've been told this is no big deal by those on the left

How so? I would think this would be an initial bump in the road, followed by a gradual decline that the inattentive do not see until it's to late.

It's a big deal. China has flirted with removing the US buck from world's reserve status in the past, with no success. China has never won a major war. China may have redirected efforts to winning an economic war. US could become Greece. We can't make an led bulb or many lithium batteries.

The US nuclear submarine fleet can destroy the world in 20 minutes.

 

[07pilt]

How so? I would think this would be an initial bump in the road, followed by a gradual decline that the inattentive do not see until it's to late.

Ah nice an unfalsifiable hypothesis

 

[07pilt]

We can't make an led bulb or many lithium batteries.

We can but our damn firms care too much about return on investment.

 

[2012Bearcat]

We can but our damn firms care too much about return on investment.

Do you invest your time, energy & money expecting to not make a return on your investment? If not, why do you have a problem with others doing exactly as you do?

 

[07pilt]

Do you invest your time, energy & money expecting to not make a return on your investment? If not, why do you have a problem with others doing exactly as you do?

In your rush to be argumentative you missed the clear sarcasm

 

[2012Bearcat]

In your rush to be argumentative you missed the clear sarcasm

Or in your rush to post sarcasm you neglected to post in blue or provide an emoji for a clue it might be sarcasm. You dismiss the fact, based on your posting history, that comment would be totally expected from you.

 

[07pilt]

Or in your rush to post sarcasm you neglected to post in blue or provide an emoji for a clue it might be sarcasm. You dismiss the fact, based on your posting history, that comment would be totally expected from you.

Maybe "damn firms" was too subtle for you.

But we have argued about this very point within the last month so you should know my position. I am afraid you might not have great reading comprehension

I said:
"Yes Americans are too productive and make too much money for a manufacturing based economy. We have moved on to higher value added activities like services and technology."

In response to you lamenting low return on investment industries leaving the country.

 

[davidallen]

Or in your rush to post sarcasm you neglected to post in blue or provide an emoji for a clue it might be sarcasm...

Talk about entitlement - do you need us to anticipate your lack of humor now?

 

[Ponca Dan]

Talk about entitlement - do you need us to anticipate your lack of humor now?

As smart as you want everyone to think you are you should be able to anticipate anything, even a lack of humor. Maybe you aren't as smart as you want everyone to think you are?

 

[2012Bearcat]

Talk about entitlement - do you need us to anticipate your lack of humor now?

I'm an equal opportunity type person. Bark at me for not getting supposed sarcasm and you get that bark right back.

 

[2012Bearcat]

Maybe "damn firms" was too subtle for you.

But we have argued about this very point within the last month so you should know my position. I am afraid you might not have great reading comprehension

I said:
"Yes Americans are too productive and make too much money for a manufacturing based economy. We have moved on to higher value added activities like services and technology."

In response to you lamenting low return on investment industries leaving the country.

WTF what type of elitist BS is this? You think this country has progressed to the point manufacturing is beneath it? Good grief you leftist have lost your mind.
I went through college working as machinist and loved almost every minute of it. Hell now that I'm retired I would love to go back and work as a machinist just for fun but there are not many of those jobs out there anymore. Manufacturing is not in any way beneath the country.

 

[07pilt]

WTF what type of elitist BS is this? You think this country has progressed to the point manufacturing is beneath it? Good grief you leftist have lost your mind.

Do you invest your time, energy & money expecting to not make a return on your investment? If not, why do you have a problem with others doing exactly as you do?

I went through college working as machinist and loved almost every minute of it. Hell now that I'm retired I would love to go back and work as a machinist just for fun but there are not many of those jobs out there anymore. Manufacturing is not in any way beneath the country.

Wow tell me more about your career as a machinist. How many years did you do it? Probably right around 40 or so since you are retired? What machines did you work with? What was your favorite? What was your biggest screw up?

 

[2012Bearcat]

Do you invest your time, energy & money expecting to not make a return on your investment? If not, why do you have a problem with others doing exactly as you do?

Wow tell me more about your career as a machinist. How many years did you do it? Probably right around 40 or so since you are retired? What machines did you work with? What was your favorite? What was your biggest screw up?

Only worked as a machinist from age 18 to 23 going through college. I enjoy working with my hands but I knew that wouldn't provide for my family the way I wanted. Worked mainly with lathes and mills, favorite machine was a CNC Mill that had a table that was 250 ft long by 50 feet wide. You could run a 2 inch ball nose end mill at 3600 RPM, at 100 inches a minute through a 6 inch slab of aluminum. It threw chips 25 feet in the air for about 50 ft, reminded me a snow machine. Always thought that was cool. Biggest screwup was trusting the second shift operator changed out a 2 inch ball nose end mill while we were running parts for the auxiliary fuel cell for the space shuttle. He was a lazy POS and evidently either forgot or lied. End mill shattered and put a hole in the part. Wasn't a big deal as it wasn't that uncommon and was easily repaired during the next step of production. Probably my second favorite job I ever had, next to pumping gas at a full service gas station going through high school in the 70s. Those were some good time and where I met my wife.

 

[07pilt]

So being a machinist wasn't good enough for you, but it is good enough for the rest of the country? Wait who is the elitist?

 

[davidallen]

So being a machinist wasn't good enough for you, but it is good enough for the rest of the country? Wait who is the elitist?

How could he not have seen that coming...

 

[07pilt]

How could he not have seen that coming...

Hahaha. Well worth it to establish his real America blue collar bona fides

 

[LAY THE WOODY]

Talk about entitlement - do you need us to anticipate your lack of humor now?

Give up yer gate code and you shall bear witness to one of the most luxurious charter buses you've ever seen parked out in front of yer mansion.

 

[2012Bearcat]

So being a machinist wasn't good enough for you, but it is good enough for the rest of the country? Wait who is the elitist?

Nope didn't pay enough for what I wanted in life but it was a job I enjoyed and got me through college. I knew what lifestyle I wanted and made the decision and sacrifices that got me there. There were plenty of times I wish all I worked was 40 hours a week, was able to attend all the kids functions and be home all the time but I wanted more financial stability.

 

[GunsOfFrankEaton]

So being a machinist wasn't good enough for you, but it is good enough for the rest of the country? Wait who is the elitist?

The average annual income for machinists in the U.S. is approximately $46,000. Some can make as high as $100,000 per year. I personally know of a machinist who works at Tinker AFB who makes north of that plus one hell of a benefit package.

 

[07pilt]

The average annual income for machinists in the U.S. is approximately $46,000. Some can make as high as $100,000 per year. I personally know of a machinist who works at Tinker AFB who makes north of that plus one hell of a benefit package.

Yep. Quick turn small batch machining is high value add work, but there just isn't very much of it.

 

[Sunburnt Indian]

As smart as you want everyone to think you are you should be able to anticipate anything, even a lack of humor. Maybe you aren't as smart as you want everyone to think you are?

You're scary close to JimmyBob in pegging Dave.

The average annual income for machinists in the U.S. is approximately $46,000. Some can make as high as $100,000 per year. I personally know of a machinist who works at Tinker AFB who makes north of that plus one hell of a benefit package.

A brother (biological) lives in MIdwest City. He's a Wichita State grad and machinist. I don't know what his major was at Wichita State. I don't know what his salary is. He and his RN wife have put 5 nieces through OU and all seem to be doing quite well.