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Parent Post: Do You Throw Them Or Catch Them? Give Me your BRICS
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In Reply To
rick
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6/12/2025, 12:00:58 PM
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Yes the dollar is being used less and I'm afraid that this is a trend that is irreversible and will only grow. Currently Russia, Iran, India, China and Venezuela use alternative currencies for oil. Unfortunately we seem to have several factions sometimes in competition that control our government at any given time. As a result we shoot ourselves in the foot all the time. The Obama administration told SWIFT to sanction Russia. SWIFT said no way. So they removed the head of SWIFT installed a puppet and set off a kind of death spiral. %%Who Ran SWIFT During The Obama Administration?%% The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a cooperative organization governed by a board of directors elected from its member institutions. During the Obama administration (2009–2017), several individuals held leadership roles at SWIFT: Yaw Nyarko served as the CEO of SWIFT from July 2007 to December 2012. He was succeeded by Jim Wadsworth, who acted as interim CEO until the appointment of a permanent successor. Lázló Kálmán became the CEO of SWIFT in January 2013 and served until December 2018. He was appointed during the latter part of the Obama administration and continued into the Trump administration. Michael Bodson was appointed as the CEO of SWIFT in January 2019, after the Obama administration had ended. Therefore, during the Obama administration, Yaw Nyarko and Lázló Kálmán were the CEOs of SWIFT, with Jim Wadsworth serving as interim CEO for a brief period between their tenures. AI-generated answer. Please verify critical facts.
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q2025
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6/12/2025, 6:46:41 PM
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Facts are right but the context is missing. Let's say our contract says you can charge whatever rent you want and I can have to pay it in full. Historically your raise the rent 5% each year, give or take a little. That works as long as there's consistency and trust. Once that's broken and you become erratic, I'll find another arrangement. That's what's happened now. Nobody trusts the US anymore because of its policies, crazy spending and Trump is jist the icing on the cake. To the point that even it's strongest allies, the UK, EU and Canada are like what the fuck. Far as China and Russia go, can't poke a spear in a bears ass and not expect it to react.
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rick
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6/12/2025, 7:21:34 PM
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Yes everybody is waiting for the shoe to drop.
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rick
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6/12/2025, 1:08:33 PM
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%%And then there's this.%% Gold Reserve Requirement BIS As of July 1, 2025, gold will officially be classified as a Tier 1, high-quality liquid asset (HQLA) under the Basel III banking regulations. This means U.S. banks can count physical gold, at 100% of its market value, toward their core capital reserves. No longer will it be marked down by 50% as a “Tier 3” asset, as it was under the old rules. This change aligns U.S. bank capital rules with global standards and represents a significant shift in how regulators perceive gold. The implementation of Basel III, which includes this change, is part of a broader set of rules aimed at strengthening bank capital requirements by requiring banks to hold more capital against credit, operational, and market risks. %%I think the JP Morgans, Goldman Sachs etc. are resisting here.%% AI-generated answer. Please verify critical facts.
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