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My absolute favorite youtube finance person, Patrick Boyle, did a very interesting video about de-dollarization and brics recently, cannot recommend it (and Pat
by neom 4y ago
My absolute favorite youtube finance person, Patrick Boyle, did a very interesting video about de-dollarization and brics recently, cannot recommend it (and Patrick) enough!
https://www.youtube.com/watch?v=JHZnVdBZJfA https://www.youtube.com/watch?v=JHZnVdBZJfA
- baryphonic 4y agoHis points about capital flows and that the US is always willing to run deficits to stabilize global markets are really underrated. Also interesting: de-dollarization may benefit the US by increasing domestic growth and investment.
- throwaway4good 4y agoI find the idea that the US' willingness to run deficits is an uniquely American thing very curious. To me it is obvious that any country in the world would do systematic deficits if they could do it without tanking the value of their currency.
- uoaei 4y agoThe budget deficit represents the monetary value of everything the government spends money on (e.g., places, programs, assets, investments, etc.).
- throwaway4good 4y agoI was referring to trade deficits.
- uoaei 4y agoAnd I was not. The statement holds for both anyway, in cases of hegemonic, sovereign, fiat currencies.
- nomay 4y agoThen thay are better off doing it their own currency, so they don‘t even have to pay back.
- throwawaylinux 4y agoAside from petroleum profiteers like Norway, Russia, Kuwait, etc., what countries don't run "systematic deficits"?
- spacebanana7 4y agoI find the willingness to run surpluses far more curious. Emerging markets are surprisingly happy to give vast amounts of oil, gold and manufactured products in exchange for claims on overseas assets that can be frozen or devalued at the stroke of a pen.
- TrapLord_Rhodo 4y agowell, they still have to pay the bond notes. The interest due on the US debt is around 40% of income tax.
- jones6ofMont 4y ago[dead]
- JumpCrisscross 4y agoThey’re a strong argument against the Americans dissuading others from using the dollar as a reserve currency. In any case, the secular dollar shorts are a perennial watering hole for our FX community. Similar to gold or commodity ETFers.
- somedude895 4y agoPatrick's content is wonderful. Informed, informative, and every now and then you get a shitpost on something like FTX with his dry British humour.
- m_eiman 4y agoPerhaps somewhat related, I like Robert Newman's History of Oil: https://www.youtube.com/watch?v=sehmmzbi3UI https://www.youtube.com/watch?v=sehmmzbi3UI
- 1MachineElf 4y agoCan you confirm if this is the correct link for you? For me this link leads to a "Video unavailable" page on YouTube.
- m_eiman 4y agoWorks on my machine. The video's title is "Robert Newman's History of Oil", it is 45:43 long, if searching for it has better success for you.