Topic: The impact of Russian and Ukrain war on world economy - page 10. (Read 13245 times)

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We are currently living in a world based on alliances in almost all fields. BRICS is basically an economic alliance whose first goal was to facilitate exchanges between its member countries. It was not possible to cancel this alliance according to geopolitical variables, nor to hold one of its members accountable according to his position in international politics, and I mean here Russia, especially since the alliance includes China (in a trade war with the United States for years) and India (in an indirect war against The United States, which supports its regional enemy Pakistan), and Brazil (which adopts open economic policies contrary to the influence of the dollar) and the desire of other countries to join this alliance, who all want liberation from the authority of the United States that extends its influence (literally) on the global economy through policies She alone controls it.

I believe that there is no single currency capable of competing with the dollar, and it is utopian to think of it being an alternative to it. And this is what all international entities know.
We are discussing the possibility of the BRICS issuing a currency that will compete with the dollar, as if this is the best solution or the only solution. But why did no one think of the euro? Theoretically, the euro is the closest currency or the currency with the most opportunities to compete with the dollar. Nevertheless, there is no room for comparison between the euro and the dollar at all levels.
The global economy is stuck with the dollar, and there is no quick solution, in my opinion, except to diversify the main currencies in international trade exchanges and in the countries' foreign currency reserves, which are currently mostly in dollars.

We have been discussing for quite a long time the issue of introducing a new currency of the BRICS countries, which should become an alternative to the current dominance of the dollar. But even the BRICS countries themselves do not actively consider this issue, at least openly. So what will be the current dollar's competitor? A new currency or one of the national currencies of the states that are members of the BRICS union? After all, this is very important. If the currency of the BRICS countries is the Chinese yuan, then this will mean a sharp strengthening of China's position. Certainly, the economic and financial strengthening of China is not beneficial for other BRICS members. Therefore, there are many questions and no answers yet.

Well, you should pull that Uncle Sam's d*ck out of your mouth, it's getting too obvious...  

Very common for such liars and trolls like yourself to call others liars. That's a very well-known technique.

What he said is 100% true. The US can freeze any assets they like without really explaining why. That's the most alarming fact. The very definition of crime can be adjusted up to their needs. Refusing to cooperate? Terrorist! Against the sanctions? Criminal! They are illegally using their currency for punitive purpose. Many countries like Turkey, Serbia and not saying openly but definitely giving some hints that there's huge pressure atm from US in order to escalate the pressure on Russia.

The US in turn, can wage war on any country without worrying about consequences. Serbia, Lybia, Syria, Iraq etc etc.. Btw, please remind me, did they find any nukes in Iraq after completely destroying the country?    

As always I have to pull you back a bit and show that once again you manipulate information and even lie, and deliberately Well, or you just don't have any information at all and are trying to fantasize

1. Does "great Russia with a stable economy" invest in the "decaying west" and its stronghold "USA, which has only debts and the dollar is worthless" ? Let's open this mystery, thank you. Yes, Russia is very happy to invest in US treasury bonds, because for them they get "no one needs the dollar". without which the Russian economy would collapse like a house of cards... Yes, that's the reality.
2. Russian assets have been sanctioned and blocked. It's true. But there is a nuance. You don't know the reality or just primitively, lying again ?

"The U.S., along with allies, has blocked or seized more than $58 billion in assets owned or controlled by Russian citizens. This applies to Russians who have fallen under sanctions. This is reported on the website of the U.S. Treasury Department" - and where is it about U.S. government obligations ? Only sanctioned legal entities and individuals ... Could you try to explain your lies/ignorance ?

https://home.treasury.gov/news/press-releases/jy0839

Yes, Central Bank assets have also been blocked. But they are not stolen, as for example Russia steals - territories, people, grain, toilets.  They are blocked to compensate losses to Ukraine. I.e. for crimes ! What should China be afraid of?  

I will clarify - US treasury bonds are not currency (and other liquid assets) assets that have been frozen. By the way, one more question - did the USA just like that, at one moment, take something for no reason and freeze Russian assets ?

^^^ China is increasingly getting uneasy about having US treasury bonds in its forex reserves. They have seen what happened to Russia. Americans can just freeze these bonds and make them worthless as per their whims and fancies. Anyway this is expected, since US Dollar is their national currency. But the problem for China is that at this point they don't have a suitable alternative, given that a majority of their trade is with the United States. In case of a potential Sino-Taiwan war, trillions of USD worth of bonds currently held by China will be made worthless by the Americans.

^^^ China is increasingly getting uneasy about having US treasury bonds in its forex reserves. They have seen what happened to Russia. Americans can just freeze these bonds and make them worthless as per their whims and fancies. Anyway this is expected, since US Dollar is their national currency. But the problem for China is that at this point they don't have a suitable alternative, given that a majority of their trade is with the United States. In case of a potential Sino-Taiwan war, trillions of USD worth of bonds currently held by China will be made worthless by the Americans.

Well.. at this point there is no doubt that US Dollar is more trustworthy than any of the other fiat currencies (including the JPY, GBP, CNY and EUR). CHF is a great option, but it doesn't have that much acceptability and the Swiss government is against the idea of using the currency for global trade. Almost all of the BRICS currencies have gone down heavily against the USD during the last few years, and there is not a single one among them that I would consider as a "strong" currency. Even in my country, the INR has lost around 20% of its value against USD during the last 5 years.

Oh, the "how wonderful it is to live without a brain" show continues 

To answer all your fantasies, let's start and end with a simple fact FACT!
With the squeals of a pathetic terrorist country : "we will destroy ALL ships GOING TO UKRAINIAN PORTS".

And the reality:
" Forbes: three foreign ships entered Ukrainian port after Russia's withdrawal from grain deal
10:52, August 1, 2023 Source: Forbes
Three cargo ships belonging to Greek, Israeli and Turkish-Georgian companies arrived at one of Ukraine's grain terminals at the Izmail port in the Danube Delta on July 30, Forbes reports. "Radio Liberty and Ukrainian publication Strana note that these are the first foreign vessels to arrive at Ukrainian ports after Russia's withdrawal from the grain deal.""

So? Who fulfilled their terms? And who "laid down" for the blockade and threats of the pathetic rabid underfuhrer ?


Sorry, but I won't waste much more time talking to an opponent with the intelligence of a stool, and a vital, acute desire to just throw shit on the fan to realize his complexes

Ok, and who would you trust more? Brazil practising some self-containment in money printing? India maybe?

In this forum of anywhere else, most people understand that money is about trusting. The US dollar despite all the failures and arrogance of the government, has been there for a couple of centuries doing wonderfully and it quite difficult to match that with any other fiat in the world. Perhaps the Swiss Franc, but it just does not have the markets built for it. Same for BRICS... you need very ample an liquid markets to make a fiat the dominant one.

Ok, and who would you trust more? Brazil practising some self-containment in money printing? India maybe?

In this forum of anywhere else, most people understand that money is about trusting. The US dollar despite all the failures and arrogance of the government, has been there for a couple of centuries doing wonderfully and it quite difficult to match that with any other fiat in the world. Perhaps the Swiss Franc, but it just does not have the markets built for it. Same for BRICS... you need very ample an liquid markets to make a fiat the dominant one.

The only difference is that rather than allowing the American treasury department to print unlimited amount of banknotes, the BRICS nations would be doing that by themselves. The member nations of BRICS (India, Brazil, Russia, China and South Africa) do have their own currencies and in case of some of these nations, the currencies are looking very weak. We don't know exactly what will be the weightage assigned to each of these national currencies. Also, dozens of nations have applied to join the BRICS bloc. Will their national currencies be added to the mix?

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economy/2022/6/8/russia-ukraine-war-threatens-long-lasting-impact-on-global-eco]World economy


I look to it that the war affecting the economy of every country and with research about it , Al-Jazeera gave detail of how some countries is affected and if the war did not stop , more of the country will keep suffering. Russia is part of the biggest supplier in oil and the short suorpply is affecting the world. The war is affecting the europe countries hard because two countries in the war are two big supplies to europe. Russia cut supply of oil to euro and that affecting production, gas use. The Ukraine economy supply large amount of iron, steel, ore,stag and ash to the world and euro now in shortage include animal vegetable fats and oil to euro and the other countries.

This is hard time for economy to survive what is your thinking about the collapsing of world economy with highing inflation.

Until Ukraine showed who really controls the situation in the Black Sea But now the terrorist country has problems with grain and oil delivery from its southern ports (Krasnodar region). Since Ukraine, officially, having responded symmetrically to the aggressor, considers ALL ships flying the Russian flag or going to Russian ports as weapons carriers. That means they can be destroyed within the framework of official and according to conventions.

Russia tried to spin a new scheme, similar to what it did with oil and gas - to monopolize grain supplies (we will destroy the Ukrainian channel of supplies to the world market), but.... expectedly shot itself in the knee. Ukraine supplies grain, and Russia, which recently squealed and sputtered how it will now destroy all ships going to Ukrainian ports - but, expectedly, except for hysterics - can do nothing.... A pacifier, a fake - what else is there to say about Russia?

PS There is no propaganda in Ukraine, you are confusing it with your usual environment, it happens, don't worry .

Until Ukraine showed who really controls the situation in the Black Sea

having responded symmetrically to the aggressor

they can be destroyed within the framework of official and according to conventions

Russia, which recently squealed and sputtered how it will now destroy all ships going to Ukrainian ports - but, expectedly, except for hysterics - can do nothing

There is no propaganda in Ukraine

Russia has no issues with exporting grain. Can you point me to the statistics saying otherwise? Insurance going up doesn't mean exports shrink. It merely means the price of grain is going up. Which in turn means Russia earning more.
Will the grain siege and price increase mean millions in poor countries dying of hunger? Hardly, take a look at top countries buying Ukrainian grain: https://www.statista.com/statistics/1333847/ukrainian-agricultural-exports-via-the-black-sea-by-country/
As you can see top buyers are extremely poor countries with severely malnutritioned population facing inevitable famine. Global hunger is no joke. 
Btw, you should study your own source propaganda article closer:

So in fact grain export is not going to stop, it's just the Western forwarders are taking the hit. It's not even a "double-sided sword" as you prefer saying it's a freaking suicide. 

Russian terrorism, as expected, has done what is known as "shooting itself in the foot" ....

Russia's grain export problems began after the Ukrainian attack on Novorossiysk.
Russian grain exporters are facing increasing difficulties in exporting their products to world markets amid an escalating situation in the Black Sea, where the Russian military attacked Ukrainian ports on the Danube and the AFU responded with an attack on Novorossiysk.
Grain traders, ocean carriers and insurers are increasingly wary of dealing with Russian counterparties and have sharply increased freight rates for them, as well as insurance fees, Reuters reported, citing sources in shipping and trading companies.

Insurance for grain carriers bound for Novorossiysk and Taman, which account for 70% of Russia's grain exports, costs tens of thousands of dollars more per day than for similar ships bound for Romania or Bulgaria, the agency's sources said.
And before the Kremlin pulled out of the grain deal, such insurance required paying a "risk premium" of about $10,000 a day. But after the Ukrainian strikes, the stakes have risen even higher, Reuters sources said.
The escalation in the Black Sea will hit Russian exports as shipping companies are already wary of sending their ships to Russian ports, especially newer, larger vessels, according to two of the agency's interlocutors.

After pulling out of the grain deal, Russia said it would consider any merchant ships entering Ukraine a legitimate military target. Kiev responded with a similar warning and launched maritime drone strikes against ships near Novorossiysk.
On the night of August 4, the large military landing ship Olenegorsk Miner was damaged, the fourth BDC to come under Ukrainian attack since the start of the war. On the night of August 5, a kamikaze drone attacked the tanker Sig near Kerch.

This further increases the risks for shipowners, at least three of whom have already stopped carrying Russian grain, while others must constantly calculate the risks of sanctions. This is not easy, given that the ownership structure of ports in Russia is opaque and many fear that their ultimate owners could be sub-sanctioned individuals, said Mike Salthouse, head of external affairs at insurer North Standard.

Even refueling at a Russian port could turn out to be a sanctions violation, another senior industry executive said. "What kind of normal trade are we talking about?" - He lamented.
Last year, Russia exported a record 60 million tons of grain with the help of major Western traders Cargill, Louis Dreyfus and Viterra. But all of them announced their withdrawal from the Russian market on July 1.
https://www.moscowtimes.ru/2023/08/08/u-rossii-nachalis-problemi-s-eksportom-zerna-posle-udarov-ukraini-po-novorossiisku-a51405

International companies now have almost no cooperation with Russia, and "transportation is mainly carried out by Russian traders using ships that international companies will not even touch," a source told Reuters.

We are talking about old, scrapped bulk carriers, which are often more than 30 years old - they make up the "shadow fleet" for the export of Russian grain, similar to what Moscow has collected for oil trade in circumvention of sanctions.

In recent months, Russia has had to search for more ships on its own and rely more and more on the "shadow fleet" of grain carriers, which are operated by Turkish and Chinese companies, sources tell Reuters.

The only difference is that rather than allowing the American treasury department to print unlimited amount of banknotes, the BRICS nations would be doing that by themselves. The member nations of BRICS (India, Brazil, Russia, China and South Africa) do have their own currencies and in case of some of these nations, the currencies are looking very weak. We don't know exactly what will be the weightage assigned to each of these national currencies. Also, dozens of nations have applied to join the BRICS bloc. Will their national currencies be added to the mix?