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Putin To Xi: "We Support Chinese Yuan Use With Asia, Africa, Latin America"
Free Vulcan:
In a ceremony at the Kremlin, and on the second day of Chinese leader's Xi Jinping's visit, Putin and Xi kicked off formal talks which will focus on the Ukraine crisis. They shook hands and stood side by side as their respective national anthems played, aired on state television. Following the meeting, they held a joint press conference, to be followed by a state dinner at the Kremlin.
Last night's greeting and starting 'informal' talks lasted about 4-and-a-half hours. In addition to Ukraine being high on the agenda for the ongoing summit, Xi outlined in initial comments Tuesday that China wishes to expand cooperation with Russia on trade, and hopes that Russia promotes liberalization, facilitation of trade and investment, alongside both sides maintaining security and stability of industrial and supply chains. Importantly, Xi invited Putin to travel to China at some point this year. Putin showed willingness on these points, also stressing that Russia stands ready to meet China's growing energy needs.
Putin also said his country stands ready to support Chinese business replacing Western companies inside Russia that left in the wake of the Ukraine war. "We are ready to support Chinese business in replacing Western enterprises that left Russia," Putin said.
https://www.zerohedge.com/geopolitical/japans-leader-makes-surprise-visit-ukraine-moment-xi-putin-summit
catfish1957:
This could go so many ways, but one thing is for certain. The United States loses in every scenario.
Maybe the best thing that could happen is a soft landing, that results in us JUST us being a economic subservant to the Chicoms. I think that is the 60-70% bet at this point, just so they can peacefully suck the rest of the life out of our economic base. With this way, they can avoid their own
The worst would be either war, or economic collapse by either hyperinflation, or a '30's like meltdown. Hopefully some Briefers will realize that putting yourself in $32T in debt, and having said debt constitute 150% of national GDP will have consequences at some point. Consequences for us will be that in a currency realignment our poor fiscal stating against free and floating currency will make our worth less, maybe even much much less. That will weaken us in every aspect.
Markets and their futures numbers are shrugging this off at this point. For some reason they seem to crazily think we are invincible economically on the world stage. Idiots. They are more concerned with the short term and what the Fed does. But just wait to a day soon, when our buying power maybe drops by 75-90% on the world's stage of buying goods and services.
Free Vulcan:
--- Quote from: catfish1957 on March 22, 2023, 09:05:11 am ---This could go so many ways, but one thing is for certain. The United States loses in every scenario.
Maybe the best thing that could happen is a soft landing, that results in us JUST us being a economic subservant to the Chicoms. I think that is the 60-70% bet at this point, just so they can peacefully suck the rest of the life out of our economic base. With this way, they can avoid their own
The worst would be either war, or economic collapse by either hyperinflation, or a '30's like meltdown. Hopefully some Briefers will realize that putting yourself in $32T in debt, and having said debt constitute 150% of national GDP will have consequences at some point. Consequences for us will be that in a currency realignment our poor fiscal stating against free and floating currency will make our worth less, maybe even much much less. That will weaken us in every aspect.
Markets and their futures numbers are shrugging this off at this point. For some reason they seem to crazily think we are invincible economically on the world stage. Idiiots. They are more concerned with the short term and what the Fed does. But just wait to a day soon, when our buying power maybe drops by 75-90% on the world's stage of buying goods and services.
--- End quote ---
Told my dad years ago that our economy is like a glass house, it'll keep chugging along till that big old boulder finally rolls down the mountain.
Except now there are at least a half dozen boulders sitting up there that could crush us due to our constantly deteriorating financial position you laid out above.
LMAO:
This is why the next election needs to be about spending, spending, and spending
We are in a very vulnerable position right now due to our unsustainable debt
I understand a president can’t just wave a magic wand and the debt will go down. It’ll also take a lot of fights with Congress.
But they do have the power of veto and the bully pulpit
catfish1957:
--- Quote from: LMAO on March 22, 2023, 09:35:48 am ---This is why the next election needs to be about spending, spending, and spending
We are in a very vulnerable position right now due to our unsustainable debt
I understand a president can’t just wave a magic wand and the debt will go down. It’ll also take a lot of fights with Congress.
But they do have the power of veto and the bully pulpit
--- End quote ---
Many don't realize that the Chicoms are the #2 foreign holder of U.S. soverign debt at $870B. (Basically about 3%) If they decided to simutaneoulsy decided to sell their stake and the same time as decoupling from the $USD as reference currency? And say so to speak, they declared everything including allied Russian and OPEC oil would only be traded in Yuan?
You'd then see panic selling worldwide of the $USD which in the past were considered safe havens, even though our fiscal house would indicate otherwise. The Chicoms could turn us into a 3rd world nation pretty quickly if they wanted to.
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