The fate of the world's currencies in the wake of the demise of the dollar. - page 93
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there is a theory of relativity........
And then there's this theory.
For those who do not know. The entire global financial system is set up so that no central bank in the world has the right to print its own currency. Example, you need 100 roubles for the economy, to issue them you need to introduce currency (the dollar) into the country. As much currency as you bring in, you may print the same amount of roubles according to the exchange rate. Where do you get dollars? On the world stock exchange. You have to sell something, for example oil or gas. We give you oil and gas, we get a dollar (a piece of paper not backed by anything) and at the rate of the dollar we have the right to print roubles.
And then there's this theory.
For those not in the know. The whole world financial system is set up so that no central bank in the world has the right to print its own currency. For example, you need 100 roubles for the economy, you need to introduce currency (the dollar) into the country to release it. As much currency as you bring in, you may print the same amount of roubles according to the exchange rate. Where do you get dollars? On the world stock exchange. You have to sell something, for example oil or gas. We give you oil or gas, we get a dollar (a piece of paper not backed by anything) and at the rate of the dollar we have the right to print roubles.
It's about being disconnected from the world system
and all agreements and contracts are signed by people who are under sanctions
so your copypaste does not apply to russia
so what dollar can we talk about if there is essentially none for the rFit's about being disconnected from the world system
and all agreements and treaties are signed by people who are under sanctions
So your copy-paste does not apply to the Russian Federation.
So, what kind of dollar can we talk about if there is none for the Russian Federation in essenceIt is about the dollar at the rate at which the cost of gas will be converted into roubles. The contracts only change the currency of settlement, not the cost...
And about the dollar, on the amount of which in the country, the number of rubles will no longer depend.
About the dollar exchange rate at which the cost of gas will be converted into roubles. The contracts only change the currency of settlement, not the cost...
And about the dollar, on the amount of which in the country, the number of rubles will no longer depend.
well, yes
this theory of relativity is written on the previous one
that is, if you fix prices, then the profit in the exchange rate for the national currency
excellent move!!!!
I once wrote to the President about this phenomenon a long time ago, in person, about four years ago.No Central Bank in the world has the right to print its own currency.
There is one country in the world where the Central Bank (is there one?) has no right to print currency at all. I won't say which one. There, the government orders it from the Fed, pays for it, and then pays the annual rent.
it's about being disconnected from the world system
and all agreements and treaties are signed by people who are under sanctions
So your copy-paste does not apply to the Russian Federation.
so, what dollar can we talk about when there is essentially no one for the russian federation?It's a funny situation in general. All bank settlements are ultimately tied to the reserves of the Central Bank, gold reserves, the inviolability of government obligations and so on.
Otherwise each pair has to hold unthinkable mutual reserves tete-a-tete. And then came the one-on-one moment :-)
What will happen, no one knows...the banks are in a stupor.
And then there's this theory.
For those not in the know. The whole world financial system is set up so that no central bank in the world has the right to print its own currency. For example, you need 100 roubles for the economy, you need to introduce currency (the dollar) into the country to release it. As much currency as you bring in, you may print the same amount of roubles according to the exchange rate. Where do you get dollars? On the world stock exchange. You have to sell something, for example oil or gas. We give you oil, gas, we get a dollar (a piece of paper not backed by anything) and at the rate of the dollar we have the right to print roubles.
This is utter nonsense, of course, credit issuance is done elementary without any foreign currency, and certainly without gas or oil...
It's amazing what wild obscurantist theories are circulating...
This is utter nonsense, of course, credit issuance is done elementary without any external currency, much less gas and oil...
It's amazing what wildly obscurantist theories are circulating...
It's really true and it's not a theory. Google "special drawing rights".
The mechanism of the Jamaican monetary system can be described as follows. IMF member countries received a certain share of SDRs according to their shares in the fund's principal capital. SDRs functioned only as units of account and could, under certain conditions, be converted into national currency. Since 1 January 1981, the IMF has been using a simplified SDR quotation based on a weighted average of the following currencies: US dollar 42 per cent, German mark 19 per cent, French franc, British pound sterling and Japanese yen 13 per cent each (according to the proportion of currencies in international trade, they are reviewed periodically).
That's right... The dollar is slowly losing ground in recent years, the euro is gaining weight in reserves.
And the euro's share in transaction volume is even higher now (second chart) and it is even more telling, the second chart is essentially a snapshot of the current state of global payments, at least those via swift.
It really is and it's not a theory. Google "special drawing rights".
https://ru.wikipedia.org/wiki/Ямайская_валютная_системаHow do SDRs limit credit issuance and indeed the monetary policy of a single country in general? 😊😉