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

[jafo]

That's why he invested in a Ponzi Scheme

@Martin Everson , if you don't mind, you can DM me with the answer to avoid dragging this thread off-topic. I think I know what you mean, but just in case I overlooked something.

What Ponzi scheme did they invest in?

PS. Learning = earning

 

[Martin Everson]

What Ponzi scheme did they invest in?

Warren Buffett Was Scammed Out of $340 Million in a Ponzi Scheme

Berkshire Hathaway recorded a $377 million hit in the first quarter of 2019 due to earlier investments in a Ponzi scheme.

observer.com

Btw people only thinking of Saudi and UAE joining BRICS. But I feel Egypt is equally important. Egypt controls the Suez Canal through which 12% of of total global trade of all goods passes through. That canal will soon be on team BRICS. These new members were not just random picks .

 

[MagicMatt]

Long-term decline of the dollar.

Good for gold and silver.

 

[uranium]

Long-term decline of the dollar.

Good for gold and silver.

There is a misconception of gold as investment.
We all know that gold is true money, but is just an asset that hold value, your suit that cost 1 ounce today, will cost 1 ounce after 10 years. But what people don't know is that gold price has always been manipulated by central bank. They decide its price.
I rather invest in assets that produce.

Gold price is manipulated by the Fed, suspects mining tycoon Frank Giustra, but suppression can't last forever

www.kitco.com

Listen to the boss himself

 

[jkl197]

looks like USD is still in fashion

Euro Shows Lowest-Ever Share in International Settlements - SWIFT

The Euro has dipped in an unprecedented display of its decline in global payments through SWIFT, highlighting a shift in preference towards the greenback and the Chinese yuan.

sputnikglobe.com

you can find the same article on bloomberg and many other websites

 

[jafo]

looks like USD is still in fashion

Totally normal! I have an older long-time friend who I've personally warned endless amounts of times since the late 70s about the dangers of smoking. He buried his parents and older brother due to smoking-induced lung cancer. He's been battling the harmful addiction for decades. He's gone through countless treatments.

For most people, it's hard to deprogram from propaganda (e.g. doctors smoking on TV ads & recommending smoking as part of a healthy diet) & free oneself from debilitating habits.

If you know, you know!

 

[BalnearioCamboriu]

looks like USD is still in fashion

Euro Shows Lowest-Ever Share in International Settlements - SWIFT

The Euro has dipped in an unprecedented display of its decline in global payments through SWIFT, highlighting a shift in preference towards the greenback and the Chinese yuan.

sputnikglobe.com

you can find the same article on bloomberg and many other websites

Yeah, the amount of the trades in the non-dollar currencies in SWIFT has declined -- India, Russia, China, UAE ....have been moving to trades in the local currencies, without SWIFT. And because of this, the percentage of the trades left in dollar in SWIFT has, logically, increased.

CIPS or SPFS, for instance, are used make trades outside of SWIFT.

 

[carlosbl]

I think it could significantly reshape global economic dynamics:

• Their addition might shift global trade routes, potentially boosting intra-BRICS trade.
• Both countries could channel wealth into BRICS' initiatives, and in turn, attract more investments from BRICS nations.
• Their financial power might accelerate BRICS' measures about reducing US dollar dependence, potentially challenging the USD's global dominance.
• And finally a fortified BRICS could serve as an alternative to Western economic institutions, influencing global decision-making.

The last 2 I think could have more impact.