Ron Wagner + 714 August 23, 2022 https://archive.ph/JhQ09Markets It’s ‘Foolish’ to Fight Dollar Dominance as Rally Picks Up Speed Surge in US currency has sent global peers tumbling this week Hawkish Fed bets, fear of recession driving dollar demand By Ruth Carson August 23, 2022, 5:27 AM UTCUpdated onAugust 23, 2022, 7:03 AM UTC Share this article Follow the authors @Ruth_Liew10 + Get alerts forRuth Carson In this article 1907438D SPEED Private Company EUR Euro Spot 0.9942 EUR -0.0001-0.0101% 749619Z ASIA FX Private Company JPY Japanese Yen Spot 137.2000 JPY -0.2800-0.2037% Open When Nick Twidale reaches his desk in Bridge Street each morning, in the heart of Sydney’s financial district, he’s greeted by a seemingly endless slew of dollar buy orders. “It’s the easiest trade in FX,” said Twidale, a 25-year markets veteran and Asia Pacific chief executive at broker FP Markets. “Until there’s a dramatic shift in fundamentals and rhetoric with the Fed, you’d definitely be foolish to sell the dollar when the whole world is so nervous.” The dollar’s resurgence has manifested in dramatic drops across every major currency this past week as concerns about a hawkish Federal Reserve and the potential for a global recession drove demand for the ultimate haven. The euro sank below parity, South Korean authorities verbally intervened to stop the won extending a 13-year low and hopes of a yen recovery were dashed as it tumbled back toward the key 140 per dollar level. King Dollar Upends the Global Economy With No End in Sight The rally looks to have plenty more room, with risks of hawkish comments from Fed Chair Jerome Powell at the Jackson Hole symposium later this week expected to turbocharge a rush for the US currency. “The dollar smile seems intact,” wrote Win Thin, global head of currency strategy at Brown Brothers Harriman & Co., referring to the theory the greenback strengthens during periods of both US economic outperformance or recession. If “risk-off impulses ebb, the dollar should continue to benefit from the relatively strong U.S. economic outlook and heightened Fed tightening expectations.” A Bloomberg gauge of the dollar rose 0.2% on Tuesday, extending gains for a fifth-consecutive session. Bullish Environment Potential drivers for more US currency gains are numerous and lie on both sides of the dollar smile equation. One is bets on weakness in major peers, from Europe’s faltering currencies to Japan’s struggling haven yen. Surging Dollar Stirs Markets Buzz of a 1980s-Style Plaza Accord Hedge funds have already increased their net-short bets on the euro to a three week high while bearish wagers on the pound climbed to the highest since March 2020, according to the latest Commodity Futures Trading Commission data. Asset managers ratcheted up their yen shorts at the same time. The euro’s most bearish euro forecaster for year end, JPMorgan Chase & Co., sees the common currency falling to $0.95 by December, data compiled by Bloomberg showed. RBC Capital Markets sees the pound sliding more than 5% over the same period to the $1.11 level, while Commonwealth Bank of Australia expects the Aussie to drop to 65 U.S. cents. On a more immediate basis, “price action will continue to reflect positioning ahead of FOMC Chair Powell’s speech at the annual Jackson Hole retreat,” said Carol Kong, strategist at CBA. “We expect euro-dollar to trade below parity most of the week.” Euro Woes Set to Worsen on Asia FX Intervention Sales, ING Says Emerging Blow The dollar’s meteoric rise is even more damaging for emerging markets, whose central banks are collectively burning through the equivalent of more than $2 billion of foreign reserves every weekday to bolster their currencies. India, Thailand and South Korea have seen their reserves plummet by a combined $115 billion this year alone. China’s yuan, seen by many as an anchor to sentiment and currencies in emerging-markets, is sliding towards the key 7 per dollar level as Covid restrictions and a slowing economy bite. Korea Warns Against Speculation as Won Slides to 13-Year Low As the US yield curve inverts further -- a closely watched sign of a pending recession -- emerging currencies including the won, Hungarian forint, Brazilian real and Mexican peso are among the most vulnerable to plumb new lows, according to TD Securities. “The combination of higher rates and higher US dollar has been exerting significant pressure on risk sentiment,” said Alvin Tan, strategist at RBC Capital Markets in Singapore. The dollar’s strength “can continue to run through the rest of the year and probably into early next year.” (Adds dollar move in sixth paragraph) Have a confidential tip for our reporters? Get in touch Before it's here, it's on the Bloomberg Terminal Learn more LIVE ON BLOOMBERG Watch Live TVListen to Live Radio Terms of Service Trademarks Privacy Policy ©2022 Bloomberg L.P. 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Tom Nolan + 2,443 TN August 24, 2022 I hope people realize that ALL OF THIS (the Covid lockdowns to change the culture into compliance to government, the fraud of climate change, the Russis-Ukraine war, censoring and surveilance, etc.) are part of a war against people in order to control them. The EURO is now on par with the DOLLAR! https://tradingeconomics.com/currencies This was intentional and deliberate - both elites in the US and Europe knew this would happen. This was easy to predict as the U.S. prompted the Russia-Ukraine conflict and now feeds it. The Climate Change narrative was never about CO2 - it was the deliberate destruction of Europe and other nations. Quote Share this post Link to post Share on other sites
Tom Nolan + 2,443 TN August 24, 2022 QUOTE: “Yuan instruments are a great alternative to the dollar.” August 24, 2022 – ReutersRussia’s No.1 gold producer Polyus issues bonds in Chinese yuanhttps://www.fxempire.com/news/article/russias-no-1-gold-producer-polyus-issues-bonds-in-chinese-yuan-1105329 EXCERPTS MOSCOW (Reuters) – Russia’s largest gold producer Polyus issued bonds denominated in the Chinese yuan worth 4.6 billion yuan ($670 million), it said on Wednesday, becoming the second Russian company to borrow in yuan within a month. Demand for the yuan in Russia has increased since Feb. 24 when Russia sent tens of thousands of troops into Ukraine and the West imposed sweeping sanctions against Moscow, limiting its access to the dollar and euro markets. Polyus, the world’s fourth-largest gold mining company by production volumes, said it issued five-year bonds with a coupon rate of 3.8%, planning to use proceeds from the issue for general corporate purposes and investment projects… …“The offering drew a great deal of interest from investors. Going forward, we expect the number of Russian companies borrowing in yuan in the local market to increase,” Sterina said. The move comes weeks after Russian aluminium producer Rusal tapped the yuan bond market on the Moscow Exchange, which started trading bonds in the Chinese currency to lure Asian investors. Russia has charged up to third place on a list of countries outside mainland China using the yuan for global payments, highlighting how it is being affected by sanctions, according to the global financial messaging firm SWIFT. “Yuan instruments are a great alternative to the dollar. We have a positive view on the outlook for the yuan. Its liquidity is expected to increase, international convertibility will improve and sanctions risks will remain limited,” BCS Express analysts said…. 1 Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 24, 2022 (edited) On 8/23/2022 at 10:27 PM, Ron Wagner said: https://archive.ph/JhQ09Markets It’s ‘Foolish’ to Fight Dollar Dominance as Rally Picks Up Speed Surge in US currency has sent global peers tumbling this week Hawkish Fed bets, fear of recession driving dollar demand By Ruth Carson August 23, 2022, 5:27 AM UTCUpdated onAugust 23, 2022, 7:03 AM UTC Share this article Follow the authors @Ruth_Liew10 + Get alerts forRuth Carson In this article 1907438D SPEED Private Company EUR Euro Spot 0.9942 EUR -0.0001-0.0101% 749619Z ASIA FX Private Company JPY Japanese Yen Spot 137.2000 JPY -0.2800-0.2037% Open When Nick Twidale reaches his desk in Bridge Street each morning, in the heart of Sydney’s financial district, he’s greeted by a seemingly endless slew of dollar buy orders. “It’s the easiest trade in FX,” said Twidale, a 25-year markets veteran and Asia Pacific chief executive at broker FP Markets. “Until there’s a dramatic shift in fundamentals and rhetoric with the Fed, you’d definitely be foolish to sell the dollar when the whole world is so nervous.” The dollar’s resurgence has manifested in dramatic drops across every major currency this past week as concerns about a hawkish Federal Reserve and the potential for a global recession drove demand for the ultimate haven. The euro sank below parity, South Korean authorities verbally intervened to stop the won extending a 13-year low and hopes of a yen recovery were dashed as it tumbled back toward the key 140 per dollar level. King Dollar Upends the Global Economy With No End in Sight The rally looks to have plenty more room, with risks of hawkish comments from Fed Chair Jerome Powell at the Jackson Hole symposium later this week expected to turbocharge a rush for the US currency. “The dollar smile seems intact,” wrote Win Thin, global head of currency strategy at Brown Brothers Harriman & Co., referring to the theory the greenback strengthens during periods of both US economic outperformance or recession. If “risk-off impulses ebb, the dollar should continue to benefit from the relatively strong U.S. economic outlook and heightened Fed tightening expectations.” A Bloomberg gauge of the dollar rose 0.2% on Tuesday, extending gains for a fifth-consecutive session. Bullish Environment Potential drivers for more US currency gains are numerous and lie on both sides of the dollar smile equation. One is bets on weakness in major peers, from Europe’s faltering currencies to Japan’s struggling haven yen. Surging Dollar Stirs Markets Buzz of a 1980s-Style Plaza Accord Hedge funds have already increased their net-short bets on the euro to a three week high while bearish wagers on the pound climbed to the highest since March 2020, according to the latest Commodity Futures Trading Commission data. Asset managers ratcheted up their yen shorts at the same time. The euro’s most bearish euro forecaster for year end, JPMorgan Chase & Co., sees the common currency falling to $0.95 by December, data compiled by Bloomberg showed. RBC Capital Markets sees the pound sliding more than 5% over the same period to the $1.11 level, while Commonwealth Bank of Australia expects the Aussie to drop to 65 U.S. cents. On a more immediate basis, “price action will continue to reflect positioning ahead of FOMC Chair Powell’s speech at the annual Jackson Hole retreat,” said Carol Kong, strategist at CBA. “We expect euro-dollar to trade below parity most of the week.” Euro Woes Set to Worsen on Asia FX Intervention Sales, ING Says Emerging Blow The dollar’s meteoric rise is even more damaging for emerging markets, whose central banks are collectively burning through the equivalent of more than $2 billion of foreign reserves every weekday to bolster their currencies. India, Thailand and South Korea have seen their reserves plummet by a combined $115 billion this year alone. China’s yuan, seen by many as an anchor to sentiment and currencies in emerging-markets, is sliding towards the key 7 per dollar level as Covid restrictions and a slowing economy bite. Korea Warns Against Speculation as Won Slides to 13-Year Low As the US yield curve inverts further -- a closely watched sign of a pending recession -- emerging currencies including the won, Hungarian forint, Brazilian real and Mexican peso are among the most vulnerable to plumb new lows, according to TD Securities. “The combination of higher rates and higher US dollar has been exerting significant pressure on risk sentiment,” said Alvin Tan, strategist at RBC Capital Markets in Singapore. The dollar’s strength “can continue to run through the rest of the year and probably into early next year.” (Adds dollar move in sixth paragraph) Have a confidential tip for our reporters? Get in touch Before it's here, it's on the Bloomberg Terminal Learn more LIVE ON BLOOMBERG Watch Live TVListen to Live Radio The ruble didn't drop or even gained ahead of the dollar. Edited August 25, 2022 by Andrei Moutchkine 1 Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK August 25, 2022 World’s secure currency! Unless you’re paying in precious metals or diamonds the dollar still remains the go to currency . China, Russia and other authoritarian basket’s that trying to create a new world reserve just face severe headwinds. Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 25, 2022 37 minutes ago, RichieRich216 said: World’s secure currency! Unless you’re paying in precious metals or diamonds the dollar still remains the go to currency . China, Russia and other authoritarian basket’s that trying to create a new world reserve just face severe headwinds. Evil Empires come and go, buddy. It looks like time's running out for yours now. With Russian FX reserves, you stole a few bucks too many, so the others are turning into candy wrappers as we speak. Why would anybody trust a "reserve" currency, which is arbitrarily revocable? That's not even currency at all anymore. 1 1 Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK August 25, 2022 Your are a Russian Bot, Fuck Off and go outside in Siberia and figure out which is the bear and which is your wife and fuck it too! 1 Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 25, 2022 15 minutes ago, RichieRich216 said: Your are a Russian Bot, Fuck Off and go outside in Siberia and figure out which is the bear and which is your wife and fuck it too! I am actually quite fond of the bears, just not in that way Look at the facts. Outside the zombified West, this particular war is perceived as a war like any other. Those come and go. Stealing a major economy's currency reserves is an event of a much larger, enduring effect that is relevant to everyone in the world. I think, the very concept of "first class" currency reserves is now void and nil. After what you've done with the Russian oligarchs, you are going to have a hard time convincing any other oligarchs to keep their stashes in the West anymore. Because what is there to prevent you to find a weakness in their moral fiber and take their stuff? They are hiring you as a banker, and not as a shrink. You just defaulted on your fiduciary duties as central bankers for the rest of the world. The dollar is growing because you just ripped off the rest of the so-called "free world" Their capital is fleeing to you. Non-Western capital is running in the other direction, which is the more important trend. 1 1 Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK August 25, 2022 2 hours ago, Andrei Moutchkine said: I am actually quite fond of the bears, just not in that way Look at the facts. Outside the zombified West, this particular war is perceived as a war like any other. Those come and go. Stealing a major economy's currency reserves is an event of a much larger, enduring effect that is relevant to everyone in the world. I think, the very concept of "first class" currency reserves is now void and nil. After what you've done with the Russian oligarchs, you are going to have a hard time convincing any other oligarchs to keep their stashes in the West anymore. Because what is there to prevent you to find a weakness in their moral fiber and take their stuff? They are hiring you as a banker, and not as a shrink. You just defaulted on your fiduciary duties as central bankers for the rest of the world. The dollar is growing because you just ripped off the rest of the so-called "free world" Their capital is fleeing to you. Non-Western capital is running in the other direction, which is the more important trend. You're laughable, the Russians that got dinged stole it from the Russian people, to begin with, all Putin's fuck buddies! A yacht that was seized is up for auction. You country's inability to make anything of importance is why your ass is getting kicked in Ukraine! I revel in the videos posted of Russian equipment blown and burnt or watching your helicopter shot down and crashing! Having problems with everything in you society because under Putin he decided to steal everything instead of building! Your about as capable as North Korea! 1 Quote Share this post Link to post Share on other sites
RichieRich216 + 454 RK August 25, 2022 You didn't even celebrate Independence Day whereas Ukrainian did, the videos of touring the burned-out wreckage was great! Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 25, 2022 9 minutes ago, RichieRich216 said: You're laughable, the Russians that got dinged stole it from the Russian people, to begin with, all Putin's fuck buddies! A yacht that was seized is up for auction. You country's inability to make anything of importance is why your ass is getting kicked in Ukraine! I revel in the videos posted of Russian equipment blown and burnt or watching your helicopter shot down and crashing! Having problems with everything in you society because under Putin he decided to steal everything instead of building! Your about as capable as North Korea! The Russians that got dinged correspond to all the Russians in the Forbes 500 list. Are those all "Putin's fuck buddies?" What did they steal? One cannot help but think that they are guilty of nothing but being successful in Russia, and you are being broke and needing their money to plug the holes in your sinking ship. You're obviously confusing your jurisdiction, which should stay in Podunk. In order to rectify theft from Russian people, you steal their foreign currency reserves? Steal some more to stop theft? This makes no sense. You simply are thieves. This makes a lot more sense. Moreover, whether anything was stolen from Russian people is for them to decide, not you. They did not exactly ask you to do anything about it. If you were really interested in full coverage, you can find plenty of videos of Western equipment also being blown up in Ukraine. Does it mean you are not capable of making anything, too? Putin "stealing everything" remains hearsay till you show me the money. Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 25, 2022 11 minutes ago, RichieRich216 said: You didn't even celebrate Independence Day whereas Ukrainian did, the videos of touring the burned-out wreckage was great! Why should I be celebrating Ukrainian holidays? AFAIK, there was nothing much new happening at the fronts today. If you know otherwise, you are welcome to share. Quote Share this post Link to post Share on other sites
specinho + 475 August 26, 2022 (edited) what is the formula for dominance, please? Asked a question in an online class called macroeconomics ( if not mistaken), i.e. How do we determine an exchange rate? By cost of labour/ raw material/ amount of debts between two countries? At will? Edited August 26, 2022 by specinho Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 27, 2022 (edited) 2 hours ago, Wombat One said: And where does the non-Western world get their capital from? That's right, the free world! Soon, China will be booted out of SWIFT as well. Then you will discover how rich (or not), they really are. Good luck with that! There is no "free world" Stop talking Newspeak. You've got no capital, but candy wrappers. Without the Chinese, you will be a civilization of lawyers and MBAs living in caves. I have never ever seen anything "Made in Australia" Have you? Edited August 27, 2022 by Andrei Moutchkine 1 Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 27, 2022 2 hours ago, Wombat One said: One word. Idiot. Two words - rule of law. Something you would need to claim to be the "free world" Quote Share this post Link to post Share on other sites
frankfurter + 562 ff August 28, 2022 On 8/27/2022 at 12:44 AM, specinho said: what is the formula for dominance, please? Asked a question in an online class called macroeconomics ( if not mistaken), i.e. How do we determine an exchange rate? By cost of labour/ raw material/ amount of debts between two countries? At will? the question is a clear example of circular reasoning... we determine. this is why university students graduate not knowing anything. 1 Quote Share this post Link to post Share on other sites
frankfurter + 562 ff August 28, 2022 17 hours ago, Wombat One said: One word. Idiot. agree... you are. Quote Share this post Link to post Share on other sites
Ron Wagner + 714 August 28, 2022 On 8/24/2022 at 5:03 PM, Andrei Moutchkine said: The ruble didn't drop or even gained ahead of the dollar. The article is about major economies. Russia is not considered a major economy except by itself and maybe poor countries that it does business with. It is about equal to Italy. Right now it is flaring natural gas at an astounding rate because it is too backward to turn it into LNG. I wish that were not true but it is. I am not trying to be rude, just factual. I am not anti Russian. I am anti dictatorships. Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 28, 2022 1 hour ago, Ron Wagner said: The article is about major economies. Russia is not considered a major economy except by itself and maybe poor countries that it does business with. It is about equal to Italy. Right now it is flaring natural gas at an astounding rate because it is too backward to turn it into LNG. I wish that were not true but it is. I am not trying to be rude, just factual. I am not anti Russian. I am anti dictatorships. I think we've been over this many times. Russia is the 5th to 6th world's largest economy on PPP basis, competing with Germany. Stats in nominal US dollars that you are citing are meaningless for countries which use their own currencies. Russia used to do a lot of business with the rich Eurofags, too. Now that they are trying to quit, see how far it got them. It isn't Russia who is being stupid. Under normal circumstance, does pipeline gas cost something like 1/3 of LNG and is deliverable on demand near instantly. LNG will never be as good, because the liquefaction trains used up something like 1/4 of the gas for the process. So, in a fair competition, pipeline always win. However, the Russians have been had. Fair competition you don't do. Having said that, Russia has about as much LNG export capacity as the US and is going to squeeze you fuckers out of every market that is fair. You are not competitive on price. All you are capable off anymore is underhanded political twisting of arms. Not exactly the free market capitalism we heard so much about. Alas, we've been had. NEVER AGAIN! I am not anti-American. I am against totalitarian societies where everybody is brainwashed into believing they are free. Did you know that your police has bigger budget than the Russian military? 1 Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 28, 2022 1 hour ago, Ron Wagner said: The article is about major economies. Russia is not considered a major economy except by itself and maybe poor countries that it does business with. It is about equal to Italy. Right now it is flaring natural gas at an astounding rate because it is too backward to turn it into LNG. I wish that were not true but it is. I am not trying to be rude, just factual. I am not anti Russian. I am anti dictatorships. Let me redefine "major economies" as "American tools." Who you just robbed by offloading your inflation to. Under normal circumstances, the "developing economies" like Russia are hit even worse. Which is how it was in 2008, which was caused by your subprime mortgages, not Russian, to recap. Now that you cut off all the options for the Russian capital to flee the country, they'll have to invest at home. What did you do that for?!? According to the "Washington consensus" setup, all the savings in the world are supposed to be invested in US. In your precious "securities" like those sublime mortgages. Let's look at the first results. Russia is actually experiencing a minor price deflation now, while the central bank interest rate is 8%. This means that everybody who simply has rubles in their current accounts is getting richer by at least that much every year. Now, what's your interest rate? Like 1%? What's the real inflation rate? The difference is how much you are losing every ear. (this difference comes with a minus sign) What you should be doing is raising the interest rate to where the inflation is. But you can't. The mountain of debt everybody in the US has will come crashing down. So, you are caught between a rock and a hard place. The financial timebomb is ticking for you, thieves.Tick-tock, tick-tock. Russia and Russians have barely any debt in comparison to you. Burn, worthless green candy wrappers, burn! Don't forget to take the other "major economies" with you. Their candy wrappers are merely crappy copies of yours. 1 1 Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 28, 2022 19 hours ago, Wombat One said: One word. Idiot. Glad to make your acquaintance, Idiot. I am Andrei. 1 Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 28, 2022 (edited) 39 minutes ago, Wombat One said: Australia is the largest exporter of LNG at the moment. Followed by the USA, then Qatar. Russia is a distant fourth place and the USA will regain top spot again once they complete repairs at the Freeport facility. In 4 years time, Qatar will be in the lead again. Did you know that Australia is also the world's largest producer of gold? And iron ore? And until recently, coal as well? Lithium too? And we have the largest reserves of uranium on the planet. The only reason we are no longer the world's largest producers of Aluminium and steel is because China manipulates it's currency. They will be unable to do that once they are kicked out of the SWIFT system. As a matter of fact, their economy has just crashed as badly as Russia's. You are correct about one thing. You have been had. Not by the West, but by your corrupt political so-called leadership. I am not saying there will not be a severe recession in the West next year, but it will be nothing compared to the collapse of Russia and China. If either of you provoke WW3, then things will get much worse again for Russia and China. The BRICS are turning to dust as we speak. You are distant 2nd in gold to China, and just barely overtook Russia this year. Russia is now 3rd. Kazakhstan has the largest uranium reserves, you are not even top10. All of which is irrelevant, because you can use only 0.72% (naturally occurring U235) while only Russia can use near 100% (undeleting the "depleted" U238) This means that Russia is the first to achieve the closed nuclear cycle, with no radioactive waste. That's some advanced stuff, marsupial. You are #6 in aluminum, while Russia is #2 or #3, making 2.5x as much. China makes 30x as much. In steel, you barely made Top30, making less than tiny Austria. Russia is nearly tied with the USA, at #5 and #4 respectively. China absolutely dwarves everybody else in steel, making 57% of the world total. You got to make some better excuse than "currency manipulation" there. And please stop posting BS statistics? I am going to call you out every time. You were never the world's largest producer of anything, give it up already. You do all right. The #1 marsupials in the world! You've got the nerve talking about corrupt leadership, while your own marsupial PM secretly held all the other cabinet positions https://www.theguardian.com/australia-news/2022/aug/16/scott-morrison-defends-secret-portfolios-as-right-decision-in-unconventional-times Scott the Infallible? The BRICS are swamped with new applications. Iran's already in. Saudi Arabia, Argentina, Turkey and Egypt are also applying. https://impakter.com/brics-expansion-five-new-members-in-2023/ Everybody wants some protection against the lawless West. Edited August 28, 2022 by Andrei Moutchkine 1 1 Quote Share this post Link to post Share on other sites
frankfurter + 562 ff August 28, 2022 3 hours ago, Wombat One said: If Russia is the world's fifth largest economy, why is it that the rubble never made it into the top 10 most traded currencies? Australia is 5th. Currencies trades result from the mafia run by the USSA. The BIS, WEF, WTO, IMF are all mafia orgs. IF the world had fair and open competition, free from nuclear war reprisals, the entire world economics would be a completely different picture from today. That different picture is now being manifested daily, slowly but surely. Quote Share this post Link to post Share on other sites
frankfurter + 562 ff August 28, 2022 4 hours ago, Wombat One said: Australia is the largest exporter of LNG at the moment. Followed by the USA, then Qatar. Russia is a distant fourth place and the USA will regain top spot again once they complete repairs at the Freeport facility. In 4 years time, Qatar will be in the lead again. Did you know that Australia is also the world's largest producer of gold? And iron ore? And until recently, coal as well? Lithium too? And we have the largest reserves of uranium on the planet. The only reason we are no longer the world's largest producers of Aluminium and steel is because China manipulates it's currency. They will be unable to do that once they are kicked out of the SWIFT system. As a matter of fact, their economy has just crashed as badly as Russia's. You are correct about one thing. You have been had. Not by the West, but by your corrupt political so-called leadership. I am not saying there will not be a severe recession in the West next year, but it will be nothing compared to the collapse of Russia and China. If either of you provoke WW3, then things will get much worse again for Russia and China. The BRICS are turning to dust as we speak. True. Australia is blessed with an abundance of resources. But such are rather useless without a purpose and markets. Considering Morriscum alienated the country from its largest market, alternate sources are plentiful, and the world is at the precipice of an epic depression, the question is how will Australia fare in future? The only countries deliberately provoking a major war are the AUKUS. Quote Share this post Link to post Share on other sites
Andrei Moutchkine + 828 August 28, 2022 8 hours ago, Wombat One said: This was 2018 you dipstick: List of countries by gold production From Wikipedia, the free encyclopedia Jump to navigationJump to search 2012 World gold output (in kilograms) Trends in five of the top seven gold-producing countries This is a list of countries by gold production in 2018.[1][2] Until 2006, South Africa was the world's largest gold producer. In 2007, increasing production from other countries and declining production from South Africa meant that China became the largest producer, although no country has approached the scale of South Africa's period of peak production during the late 1960s and early 1970s. In 1970, South Africa produced 995 tonnes or 32 million ounces of gold, two-thirds of the world's production of 47.5 million ounces.[3] Production figures are for primary mine production. In the US, for example, for the year 2011, secondary sources (new and old scrap) exceeded primary production.[4] 2020 Rank Country Gold production (tonnes)[5] Reserves (tonnes)[6] % of total 1 China 380 12,000 11.7 2 Australia 320 9,800 9.9 3 Russia 300 5,300 9.3 4 United States 190 3,000 5.9 5 Canada 170 2,000 5.2 6 Ghana 140 1,000 4.3 7 Indonesia 130 2,500 4.0 8 Peru 120 2,600 3.7 9 Kazakhstan 100 1,000 3.1 10 Mexico 100 1,400 3.1 11 Uzbekistan 90 1,800 2.8 12 South Africa 90 6,000 2.8 13 Sudan 90 1,550[7] 2.8 14 Brazil 80 2,400 2.5 15 Papua New Guinea 70 1,300 2.2 16 Mali 61 800 1.9 17 Argentina 60 1,600 1.9 18 Other 750 — 23.1 Nothing much changed since https://worldpopulationreview.com/country-rankings/gold-production-by-country Quote Share this post Link to post Share on other sites
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