6 ms·

BRICS invites Saudi, Iran and others to join developing world bloc

7 points by 0xDEF 3y ago

0xDEF 3y ago
[flagged]
- throwaway4good 3y ago
  Saudi in brics is major news and a potential threat to the petrodollar order that has run the world since the 70es.
  - deleted 3y ago
    [deleted]
  - unmole 3y ago
    China and India, the two largest economies in the grouping have extreme capital controls. Forget about the why, it's not even feasible for the Saudis to shift their reserves to renminbi and rupees.
- defrost 3y ago
  Is the US media censoring BRICS stories? The BRICS Group Announces New Members, Expanding Its Reach Argentina, Egypt, Ethiopia, Iran, the U.A.E. and Saudi Arabia have been invited to join the club of emerging nations, strengthening its role as a geopolitical alternative to Western-led forums. https://www.nytimes.com/2023/08/24/world/europe/brics-expansion-xi-lula.html https://www.nytimes.com/2023/08/24/world/europe/brics-expans... My RSS US news feeds have had many BRICS mentions in past years.
- JumpCrisscross 3y ago
  > You have to wonder why American media is censoring news about a growing geopolitical bloc that is completely focused on destroying the value of the US dollar It’s front page on Bloomberg and the Journal [1][2]. To the degree global summits get any coverage in American media, this is a lot. The idea that the New Development Bank is going to create a rival currency is theatre [3]. And the idea that the American economy would collapse if the dollar lost its reserve status is based on the petrodollar hypothesis, an outdated concept at best and debunked myth most realistically. (Many American monetary policymakers argue dollar hegemony is bad for the American economy.) In summary, a better indication for your observation of disinterest is this article’s upvotes and moribund comment section: a hodgepodge talkfest is not interesting. [1] https://www.bloomberg.com/news/articles/2023-08-24/brics-asks-saudi-iran-4-other-nations-to-join-bloc-to-add-heft?srnd=premium https://www.bloomberg.com/news/articles/2023-08-24/brics-ask... [2] https://www.wsj.com/world/iran-saudi-arabia-others-invited-to-join-brics-group-239736d8?mod=mhp https://www.wsj.com/world/iran-saudi-arabia-others-invited-t... [3] https://www.ft.com/content/d8347bd0-cc4f-4c3b-9225-0ccd272330a6 https://www.ft.com/content/d8347bd0-cc4f-4c3b-9225-0ccd27233...
- unmole 3y ago
  > American media is censoring news They aren't > completely focused on destroying the US economy by devaluing the US dollar This is an unhinged take.
- deleted 3y ago
  [deleted]

7 points by 0xDEF 3y ago

0xDEF 3y ago

[flagged]

throwaway4good 3y ago
Saudi in brics is major news and a potential threat to the petrodollar order that has run the world since the 70es.
- deleted 3y ago
  [deleted]
- unmole 3y ago
  China and India, the two largest economies in the grouping have extreme capital controls. Forget about the why, it's not even feasible for the Saudis to shift their reserves to renminbi and rupees.
defrost 3y ago
Is the US media censoring BRICS stories? The BRICS Group Announces New Members, Expanding Its Reach Argentina, Egypt, Ethiopia, Iran, the U.A.E. and Saudi Arabia have been invited to join the club of emerging nations, strengthening its role as a geopolitical alternative to Western-led forums. https://www.nytimes.com/2023/08/24/world/europe/brics-expansion-xi-lula.html https://www.nytimes.com/2023/08/24/world/europe/brics-expans... My RSS US news feeds have had many BRICS mentions in past years.
JumpCrisscross 3y ago
> You have to wonder why American media is censoring news about a growing geopolitical bloc that is completely focused on destroying the value of the US dollar It’s front page on Bloomberg and the Journal [1][2]. To the degree global summits get any coverage in American media, this is a lot. The idea that the New Development Bank is going to create a rival currency is theatre [3]. And the idea that the American economy would collapse if the dollar lost its reserve status is based on the petrodollar hypothesis, an outdated concept at best and debunked myth most realistically. (Many American monetary policymakers argue dollar hegemony is bad for the American economy.) In summary, a better indication for your observation of disinterest is this article’s upvotes and moribund comment section: a hodgepodge talkfest is not interesting. [1] https://www.bloomberg.com/news/articles/2023-08-24/brics-asks-saudi-iran-4-other-nations-to-join-bloc-to-add-heft?srnd=premium https://www.bloomberg.com/news/articles/2023-08-24/brics-ask... [2] https://www.wsj.com/world/iran-saudi-arabia-others-invited-to-join-brics-group-239736d8?mod=mhp https://www.wsj.com/world/iran-saudi-arabia-others-invited-t... [3] https://www.ft.com/content/d8347bd0-cc4f-4c3b-9225-0ccd272330a6 https://www.ft.com/content/d8347bd0-cc4f-4c3b-9225-0ccd27233...
unmole 3y ago
> American media is censoring news They aren't > completely focused on destroying the US economy by devaluing the US dollar This is an unhinged take.
deleted 3y ago
[deleted]