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By *abioMan 35 weeks ago
Newcastle and Gateshead |
"Apparently the Indian PM won't take trumps phone calls
The king of Europe won't be happy  "
You wonder why after he decided India should have a 25% tariff…. Then doubled It to 50% after they called his bluff on buying Russian oil….
He is basically worried the BRICS countries will create their own banking system to counteract the US dollar as the global market standard |
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"Apparently the Indian PM won't take trumps phone calls
The king of Europe won't be happy
You wonder why after he decided India should have a 25% tariff…. Then doubled It to 50% after they called his bluff on buying Russian oil….
He is basically worried the BRICS countries will create their own banking system to counteract the US dollar as the global market standard "
I don’t think the decision on expanding the tariffs on India are related at all to any potential US fears on BRICS wanting an alternative banking system.
It is highly unlikely the US even gives a hoot about an alternative BRICS banking system because they know it will lack liquidity.
It is almost trivial to create the technical banking rails for a new system if you want to do that. The hard part is getting the money to flow through those rails. Currently the US is the global reserve currency and so that means that almost everyone has to trade in the US dollar. That is where the liquidity is. Any other system is, almost by definition, irrelevant.
The Indian tariff increase is just petty ego on Trumps part. He thinks that everyone is going to bow to him if he threatens them. Historically people did. Increasingly they are ignoring him. Modi is clearly pissed off with being treated poorly. India has long had a policy of non alignment and you are seeing them go and do their own thing. |
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By *abioMan 35 weeks ago
Newcastle and Gateshead |
"Apparently the Indian PM won't take trumps phone calls
The king of Europe won't be happy
You wonder why after he decided India should have a 25% tariff…. Then doubled It to 50% after they called his bluff on buying Russian oil….
He is basically worried the BRICS countries will create their own banking system to counteract the US dollar as the global market standard
I don’t think the decision on expanding the tariffs on India are related at all to any potential US fears on BRICS wanting an alternative banking system.
It is highly unlikely the US even gives a hoot about an alternative BRICS banking system because they know it will lack liquidity.
It is almost trivial to create the technical banking rails for a new system if you want to do that. The hard part is getting the money to flow through those rails. Currently the US is the global reserve currency and so that means that almost everyone has to trade in the US dollar. That is where the liquidity is. Any other system is, almost by definition, irrelevant.
The Indian tariff increase is just petty ego on Trumps part. He thinks that everyone is going to bow to him if he threatens them. Historically people did. Increasingly they are ignoring him. Modi is clearly pissed off with being treated poorly. India has long had a policy of non alignment and you are seeing them go and do their own thing."
Well we know that he was worried enough about BRICS that he threatened both Brazil and South Africa with further extended tariffs if they went in that direction
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