UAE and Saudi joining BRICS, what are your thoughts on the effects of this?

[Ancova]

The United Arab Emirates (UAE), Kingdom of Saudi Arabia and Egypt are among six nations that have been invited to join the BRICS group of nations.

What do you guys think what effects it will have on the global economy?

 

[uranium]

The United Arab Emirates (UAE), Kingdom of Saudi Arabia and Egypt are among six nations that have been invited to join the BRICS group of nations.

What do you guys think what effects it will have on the global economy?

Little to no effect
Brics keep bringing to the table countries who them selves are dependent on USA.
US protect Saudia arabia. Egypt UAE, all of them are under control of USA.

 

[BalnearioCamboriu]

under control of USA.

You're mentally stuck in the world of 10-20 years ago. Wake up, man - it's changed.


Show me several examples of Saudi Arabia, UAE and Egypt being "under control" of USA. And take into account the last 1-3 years.

And the very fact that they've joined BRICS -- isn't this a proof of the opposite?

What do you guys think what effects it will have on the global economy?

At least Martin will be robbing his hands ever more strongly and with more exicitement.

 

[uranium]

You're mentally stuck in the world of 10-20 years ago. Wake up, man - it's changed.


Show me several examples of Saudi Arabia, UAE and Egypt being "under control" of USA. And take into account the last 1-3 years.

And the very fact that they've joined BRICS -- isn't this a proof of the opposite?


At least Martin will be robbing his hands ever more strongly and with more exicitement.

Riyadh Air Base, Saudi Arabia is one of the most important American bases due to the strategic location. It is right in the Middle East, giving the American troops the chance to easily support their potential invasions in the area. The base is located in the capital of Saudi Arabia.

The UAE hosts 5,000 U.S. military personnel, many at Abu Dhabi's Al Dhafra Air Base, where American drones and advanced F-35 jetfighters are stationed. The U.S. Navy also maintains a small base in Fujairah on the Gulf of Oman

Take a look at Saudia arabia, they are buying arms from US in billions every year. It is like paying for USA protection.
UAE same profile. But not as powerful as Saudia arabia.
Egypt: Inflation at worst!
All these countries who are joining brics are mostly third world's countries.
I remember a quote that says "I rather be a member of a pack of wolves than be a leader of pack of sheeps.

 

[Martin Everson]

People have not kept up to date with the geopolitical shift . The relationship between Saudi and US has been strained for a while. MBS not happy with Biden over Jamal Khashoggi issue and failure to curb Iran. But Iran and Saudi are now friends again anyway so US protection against who...lol? The US could not even do much against Iran made Houthi drones in Saudi.

Asia is also a bigger customer for Saudi crude than US. China being one of the top buyers of Saudi crude has made US relationship not that relevant any more. Biden has been given cold shoulder by Saudi on many occasions...lol.

China and Saudi have also been bolstering their relations for a while as the Kingdom diversifies its friendships and there is progress in terms of military corporation between China and Saudi. UAE is the same as it is not in good place with US either.

https://edition.cnn.com/2021/12/23/politics/saudi-ballistic-missiles-china/index.html

https://edition.cnn.com/2023/03/15/world/us-saudi-china-relations-intl/index.html

https://edition.cnn.com/2022/12/09/middleeast/china-xi-jinping-saudi-arabia-policy-intl/index.html

Egypt also wants to benefit from BRI and its strategic partnership with China now . US is out in cold sadly and things are only going to get worse for them as countries move towards bilateral trade in local currencies and ditch the dollar.

The question is what is the standard of living going to look like in America when they can no longer print their way into prosperity with petrodollar/reserve currency advantage..lol?

At least Martin will be robbing his hands ever more strongly and with more exicitement.

You could hear it from there could you?

 

[uranium]

"The question is what is the standard of living going to look like in America when they can no longer print their way into prosperity with petrodollar/reserve currency advantage..lol?"
This won't happen at least for the next decade
You think USA will keep watching and do nothing
Soon they will introduce CBDC and push it to the world, every country will buy it

 

[Martin Everson]

This won't happen at least for the next decade

A lot longer than the actually. I expect 2050.

You think USA will keep watching and do nothing

The US is currently doing everything possible to stop China's inevitable rise to worlds number one. It has planned new bases surrounding China in Philippines etc and it trying to antagonize China into conflict over Taiwan - despite recognizing the one China policy. Btw it is unlikely the U.S will win in a war against China in China's own backyard.

Soon they will introduce CBDC and push it to the world, every country will buy it

No they won't sadly if de-dollarization catches on. It requires the US firstly to make major changes in policy related to their use of sanctions and weaponizing of the dollar for geopolitical ends. Who wants programmable money from a proven untrustworthy source.

 

[BalnearioCamboriu]

Riyadh Air Base, Saudi Arabia is one of the most important American bases due to the strategic location. It is right in the Middle East, giving the American troops the chance to easily support their potential invasions in the area. The base is located in the capital of Saudi Arabia.

The UAE hosts 5,000 U.S. military personnel, many at Abu Dhabi's Al Dhafra Air Base, where American drones and advanced F-35 jetfighters are stationed. The U.S. Navy also maintains a small base in Fujairah on the Gulf of Oman

Take a look at Saudia arabia, they are buying arms from US in billions every year. It is like paying for USA protection.
UAE same profile. But not as powerful as Saudia arabia.
Egypt: Inflation at worst!
All these countries who are joining brics are mostly third world's countries.
I remember a quote that says "I rather be a member of a pack of wolves than be a leader of pack of sheeps.

That's not "under control". That's "there's some degree of a dependency".


And now look for the things that prove the opposite - that Sauid Arabia, Egypt, UAE have been distancing themselves from USA and becoming closer to Russia, China, Iran.

 

[backpacker]

All these countries who are joining brics are mostly third world's countries.

Let's not forget that many of these countries are dependent on the IMF: Specifically Argentina, Egypt, Ethiopia, and South Africa.

de-dollarization

... won't continue as long as their is no reliable alternative.
BRICS won't be able to deliver since they are too diverse.
Trading in local currency can to certain extend work on a government-to-government level. The private sector, however, will shy away. Or simply close down, like in Egypt.

-> https://www.allianz.com/content/dam...3/june/fx-reserves/2023_06_29-FX_Reserves.pdf

 

[madihrb]

Optics is everything, It seems the West had lost the power it had before COVID-19 or the Russian war. Africa had started to show eyes to the West the Niger Coup is an example. France had also shown interest in joining BRICS as history tells us France is always against the US dollar rise. If things continue to be the same as now, the power shift will happen faster than anticipated. It's the same as when the US left Afghanistan, they thought it would take months not years for the Taliban to capture Afghanistan, but once the optics were that the US had lost the power in Afghanistan, the Taliban took control very fast.

I have also noted the perception of the West being rich is changing very fast, now perception is East has more money. This perception will also play a crucial role in neutral powers close to Western powers to change sides.

 

[FantomOffshore]

now perception is East has more money

This may be the perception, but it is simply untrue, the West is still far richer than the East by a wide margin. The US is almost 2 India's richer than China measured by GDP, and while the US is experiencing unstoppable economic growth and controls the major technologies of the future, the pendulum is starting to swing the other way for China. I guess the wish is the father of the thought (which is often the case on this forum). Show me one good Chinese graphics card. ASML could stop shipping photolitography machines to the East and the East would never be able to build a single chip that would remotely rival the ones in "The West" themselves. That's how far "The West" has fallen behind.

The whole narrative about Russia, Iran and China is like the three mediocre but cruel kids that tell each other how great they are so they can feel better about themselves. That a forum founded around the philosophy of John Locke and personal liberty has so many actors trumpeting ultra-repressive regimes completely opposed to aforementioned while probably not even living in the countries ran by said regimes is something I hoped I would last hear from teenage edgelords.

 

[backpacker]

Not even the founding members of BRICS are united when it comes to "de-dollarization" -> De-dollarization still a long way off, Indian minister says after BRICS talk of a common currency

 

[uranium]

This may be the perception, but it is simply untrue, the West is still far richer than the East by a wide margin. The US is almost 2 India's richer than China measured by GDP, and while the US is experiencing unstoppable economic growth and controls the major technologies of the future, the pendulum is starting to swing the other way for China. I guess the wish is the father of the thought (which is often the case on this forum). Show me one good Chinese graphics card. ASML could stop shipping photolitography machines to the East and the East would never be able to build a single chip that would remotely rival the ones in "The West" themselves. That's how far "The West" has fallen behind.

The whole narrative about Russia, Iran and China is like the three mediocre but cruel kids that tell each other how great they are so they can feel better about themselves. That a forum founded around the philosophy of John Locke and personal liberty has so many actors trumpeting ultra-repressive regimes completely opposed to aforementioned while probably not even living in the countries ran by said regimes is something I hoped I would last hear from teenage edgelords.

Well said!
I agree 100% with every word you said.
ASML is Europe most profitable Technology company. If you buy their stock, you will make alot of profit
ASML machines make the most advanced computer chips and it's the only company in the world with that kind of technology
Who dominate AI today?
It is USA, who build Tesla, chatgpt?
I watched a press conference where Putin himself said he who will dominate AI industry, will control the world!
Most of forum members are mad at Europe policies and taxes and that's why they lean towards countries like Russia and Brics
If they go to any of those Brics countries, they will see how hard life would be there.

 

[Paul Tudor Jones]

This may be the perception, but it is simply untrue, the West is still far richer than the East by a wide margin. The US is almost 2 India's richer than China measured by GDP, and while the US is experiencing unstoppable economic growth and controls the major technologies of the future, the pendulum is starting to swing the other way for China. I guess the wish is the father of the thought (which is often the case on this forum). Show me one good Chinese graphics card. ASML could stop shipping photolitography machines to the East and the East would never be able to build a single chip that would remotely rival the ones in "The West" themselves. That's how far "The West" has fallen behind.

The whole narrative about Russia, Iran and China is like the three mediocre but cruel kids that tell each other how great they are so they can feel better about themselves. That a forum founded around the philosophy of John Locke and personal liberty has so many actors trumpeting ultra-repressive regimes completely opposed to aforementioned while probably not even living in the countries ran by said regimes is something I hoped I would last hear from teenage edgelords.

100%

Actions speak louder than words, all of the people here that worship China/Putin live in the West and have 99.99% of their wealth invested in the West (some even in countries whose currency is pegged to the US dollar, while decrying how USD hegemony is about to crumble any day now). Clearly they don't believe a word they are saying, or else they would rush to invest in these autocratic regimes now that their markets are at a generational low.

And to keep it to the subject: anybody who believes that China, India and Brasil will unite their central banks under one single currency and one interest rate even though their economies and populations are vastly different- has zero knowledge of banking, currencies or economics.

 

[uranium]

100%

Actions speak louder than words, all of the people here that worship China/Putin live in the West and have 99.99% of their wealth invested in the West (some even in countries whose currency is pegged to the US dollar, while decrying how USD hegemony is about to crumble any day now). Clearly they don't believe a word they are saying, or else they would rush to invest in these autocratic regimes now that their markets are at a generational low.

And to keep it to the subject: anybody who believes that China, India and Brasil will unite their central banks under one single currency and one interest rate even though their economies and populations are vastly different- has zero knowledge of banking, currencies or economics.

Agreed 100%
I asked my self before, if China is going to become number 1 economic soon. Why not invest in Chinese stocks. But I had to learn politics of China before i invest in it.
After some research, I figured that an unstable politics country is doomed to fail even if its economy is doing well
Have a look at Alibaba stock. All because founder criticized some politicians

Mark Mobius complains his money is stuck in China | Fortune

fortune-com.cdn.ampproject.org

 

[BalnearioCamboriu]

Not even the founding members of BRICS are united when it comes to "de-dollarization" -> De-dollarization still a long way off, Indian minister says after BRICS talk of a common currency

Firstly, CNBC and other official pro-US-Western media will often distrort the information that has to do with BRICS and the countries in it. "BRICS? De-dollarization? Ahhhhaaa! Even they among themselves can't agree on anything."

Can CNBC know what really happens in BRICS? Will it post such information that represents the US and West negatively? Sometimes it will. More often - not.

Post the information from more neutral sources.
---


Nobody claims that it'll happen in 1 month or even 1 year.

One should look at the trends which have been that the role of the dollar has been descreasing.

The agreements to trade in the national currencies have been increasing, on the other hand. The trades in RMB have been on the rise too.

 

[JackAlabama]

Agreed 100%
I asked my self before, if China is going to become number 1 economic soon. Why not invest in Chinese stocks. But I had to learn politics of China before i invest in it.
After some research, I figured that an unstable politics country

Which are all countries today, and then you are left with bitcoin. Its the only thing which is not an unstable politics country.

is doomed to fail even if its economy is doing well
Have a look at Alibaba stock. All because founder criticized some politicians

Mark Mobius complains his money is stuck in China | Fortune

fortune-com.cdn.ampproject.org

 

[uranium]

Which are all countries today, and then you are left with bitcoin. Its the only thing which is not an unstable politics country.

If USA decide to ban crypto, all coins value will drop to 0 immediately. What you don't realize is that the whole world is at the mercy of one country: USA

 

[FantomOffshore]

Firstly, CNBC and other official pro-US-Western media will often distrort the information that has to do with BRICS and the countries in it. "BRICS? De-dollarization? Ahhhhaaa! Even they among themselves can't agree on anything."

Can CNBC know what really happens in BRICS? Will it post such information that represents the US and West negatively? Sometimes it will. More often - not.

Post the information from more neutral sources.
---


Nobody claims that it'll happen in 1 month or even 1 year.

One should look at the trends which have been that the role of the dollar has been descreasing.

The agreements to trade in the national currencies have been increasing, on the other hand. The trades in RMB have been on the rise too.

We don't watch CNBC, CNN, BBC etc. The West is not a propaganda bloc, most people interested in the matters discussed here will have likely read solely books augmented by news articles from pay-to-read papers and their own experience and their families experiences doing business in said countries. I know it's hard to believe if you were born in a propaganda state but it is true.

 

[JackAlabama]

If USA decide to ban crypto, all coins value will drop to 0 immediately. What you don't realize is that the whole world is at the mercy of one country: USA

muahahah ok I wonder what universe you live in but ok. Time moved on, its not the 80s any more.

Lets start with this: the us banned a few things already, what happened to the prices of these goods and services thereafter?
But its a moot point, blackrock and kennedy is on board, so why a ban? They are also not stupid even if power is shifting.