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Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

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Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#111

Post by NicoJuicy »

aaomidi wrote: post #97
endofreach wrote: post #63

Earlier quoted context omitted.

the west only cares about this to weaken russia. Weapons will only cost more lives. "Weapons will stop this war"? How? What's the end game? When it started the people believed it would be over in 3 days. Now all of a sudden people believe ukraine can destroy russia? How many more ukranian and russian soldiers must die? This war will not be stopped by weapons. Just like any other. But if it was, i can't see a defeated…

Every generation has a group of useful… that will support a new front of war. That’s my conclusion with the comments here.

Perhaps use arguments instead of opinions.

Or take some guidance at the countries that already suffered Russia as a neighbor in the recent past.

Here's a hint: Ukraine, Romania, Poland, Finland, ...

Here's an example: https://abcnews.go.com/International/helsinkis-underground-c...

Or are you claiming you know better than them?

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#112

Post by throwadobe »

mark_l_watson wrote: post #65
throwadobe wrote: post #43

Earlier quoted context omitted.

this has very little impact on the strength of the dollar. if anything, it's a better signal of Russia's economic weakness (in the face of sanctions) than a power shift in favor of the Yuan. forgoing foreign bases and limiting the US military presence to domestic only is such a ludicrous take that I'm willing to bet would have you laughed out of any room discussing defense.

Well, organizations making large profits would like to laugh me out of the room. Next to tech stocks, ‘defense’ stocks are my second largest basket of stocks. I don’t expect that these companies will stop making large profits for the near future, but I keep an eye on my investments. I find it interesting, in general, in this thread, that so many people dismiss what on the surface is a contrarian view (i.e., drastical…

> drastically reduce our overseas military presence

for what? a smaller deficit? it's unclear whether reducing the size of the defense industry helps the US economy, so maybe you get a smaller deficit but you also raise unemployment by a couple % and lower economic growth by a % or so over the next 25 years

conversely, it's pretty clear this does hurt its current hegemonic position. that's a gamble not many are willing to take so carelessly

I say this as a non-American, by the way

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#113

Post by JumpCrisscross »

zrn900 wrote: post #98
JumpCrisscross wrote: post #51

Earlier quoted context omitted.

> Russia is sinking despite becoming the 4th largest economy Sixth [1] to 11th [2], on track to being eclipsed by Indonesia and Mexico. > having major increase in real wages Real wages are up, yes, but real disposable income is flat [3]. This isn’t uncommon in a war footing [4]. Labour and necessities are diverted to the front, raising prices for both. That squeezes disposable income, which moderates price growth in…

>> Russia is sinking despite becoming the 4th largest economy What part of it is 'sinking'? It increased its oil exports. It increased its other resource exports. Europe is still buying Russian gas and oil, except through India and its now called 'Indian oil'. It achieved independence in a lot of things that it was buying from the West, mixing it with homegrown products and global south imports. The sanctions HIT EUR…

> It increased its oil exports

Revenues are down [1].

> Here's what's relevant

You're linking to a paper on bank runs. We had a bunch last year, and another a few months ago.

You didn't notice? That's okay. Most Americans didn't notice either.

(That said, I appreciate your citing a source. You'll note that the authors suggestions were recently implented.)

> None of that is applicable to the actual reality that Russians themselves report

Real disposable income is down. According to Russia.

[1] https://oilprice.com/Energy/Energy-General/Russian-Oil-is-Fu...

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#114

Post by lawn »

mrtksn wrote: post #44
lawn wrote: post #34

Earlier quoted context omitted.

> Atta boy for Beijing but Russians don't seem to be having trouble running this war at all. You're really not looking closely. In the beginning they were invading with tanks. Now they send Chinese golf carts and mopeds to the front to power the meat grinder.

True but they are far from running out of this stuff(soldiers of any kind with any equipment) before the west. Russians have criminal level of tolerance for lost lives.

With West's continued support there's just no way that Ukraine will run out of equipment before Russia will.

With Russia's death rate and invasion speed (or lack thereof) they will also run out of soldiers before Ukraine.

But it will take time...

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#115

Post by ajuc »

mrtksn wrote: post #99
ajuc wrote: post #96

Earlier quoted context omitted.

Inflation in EU is like 2%?

Sure that's the official figure but people are annoyed that everything is %50 to %200 more expensive compared to 2-3 years ago without having their income growing at the same pace. This is because people feel the inflation different ways because different classes consume different stuff and the average doesn't mean much when you have your rent doubled and the food becoming %50 more expensive.

If you believe the figures from totalitarian dictatorships but think that EU figures are faked I really can't help you :)

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#116

Post by lawn »

NicoJuicy wrote: post #110
AtlasBarfed wrote: post #105

Earlier quoted context omitted.

The stated goal of Russia in publicly made speeches is to control the land Gap in NATO territory in Poland. That is the reason why they invaded Ukraine Russia will not stop at Ukraine. Their publicly stated goal just like they're publicly stated goal for invading Ukraine is The first step to militarily controlling that Gap is called the sulwaki gap I forgot what the name of the person is, but there is a naval war col…

That's not entirely correct. NATO is not a threat in Putin's eyes. What they want is the gas that was going to be produced in Ukraine in 2013, a year before they invaded. They also took resource rich areas. The proof for this is easy. Russia clearly stated they have no problem with Finland joining NATO. A border of 1340 km and Finland has one of the strongest army's in Europe. https://www.politico.eu/article/putin-ru…

> Russia clearly stated they have no problem with Finland joining NATO.

Nah, before Finland (and Sweden) joined they issued multiple threats.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#117

Post by NicoJuicy »

lawn wrote: post #116
NicoJuicy wrote: post #110

Earlier quoted context omitted.

That's not entirely correct. NATO is not a threat in Putin's eyes. What they want is the gas that was going to be produced in Ukraine in 2013, a year before they invaded. They also took resource rich areas. The proof for this is easy. Russia clearly stated they have no problem with Finland joining NATO. A border of 1340 km and Finland has one of the strongest army's in Europe. https://www.politico.eu/article/putin-ru…

> Russia clearly stated they have no problem with Finland joining NATO. Nah, before Finland (and Sweden) joined they issued multiple threats.

That's what they always do.

Here's what they did when they actually joined: https://www.reuters.com/world/europe/what-can-finlands-armed...

( As mentioned before)

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#118

Post by lawn »

NicoJuicy wrote: post #117
lawn wrote: post #116

Earlier quoted context omitted.

> Russia clearly stated they have no problem with Finland joining NATO. Nah, before Finland (and Sweden) joined they issued multiple threats.

That's what they always do. Here's what they did when they actually joined: https://www.reuters.com/world/europe/what-can-finlands-armed... ( As mentioned before)

That's just trying to save face because their empty threats were called.

Treating anything Russia says as proof of their intentions is pure ignorance given their long track record of empty threats, lies and flip-flopping.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#119

Post by mrtksn »

ajuc wrote: post #115
mrtksn wrote: post #99

Earlier quoted context omitted.

Sure that's the official figure but people are annoyed that everything is %50 to %200 more expensive compared to 2-3 years ago without having their income growing at the same pace. This is because people feel the inflation different ways because different classes consume different stuff and the average doesn't mean much when you have your rent doubled and the food becoming %50 more expensive.

If you believe the figures from totalitarian dictatorships but think that EU figures are faked I really can't help you :)

No I don't suggest that at all. That's a strawman argument right there.

Re: Chinese yuan becomes Russia's main foreign currency, replacing dollar and euro

#120

Post by tim333 »

endofreach wrote: post #63
JumpCrisscross wrote: post #32

Earlier quoted context omitted.

> sanctions make very little difference short term. Giving more weapons to Ukraine is the only way to stop Russia Correct. Long term, the effects of a materially-high real interest rate, capital controls and the demographic and technological degradation of sanctions and the war directly are starting to show their teeth. Sanctions won’t stop this war. But they’ll facilitate degrading Russia so it is in no position to…

the west only cares about this to weaken russia. Weapons will only cost more lives. "Weapons will stop this war"? How? What's the end game? When it started the people believed it would be over in 3 days. Now all of a sudden people believe ukraine can destroy russia? How many more ukranian and russian soldiers must die? This war will not be stopped by weapons. Just like any other. But if it was, i can't see a defeated…

Some past superpower invades, rivals give weapons endgames for potential guidance:

Soviet invasion of Afghanistan - Soviets went home, split up a bit

American troops in Vietnam - America went home, had a rethink

Nazi invasion of USSR - nazis went home, were defeated

Following that pattern maybe the Russians go home, Putin replaced?

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