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☆ Yσɠƚԋσʂ ☆@lemmy.ml to World News@lemmygrad.mlEnglish · 2 years ago

Egypt Officially Ditches US Dollar For Trade

watcher.guru

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Egypt Officially Ditches US Dollar For Trade

watcher.guru

☆ Yσɠƚԋσʂ ☆@lemmy.ml to World News@lemmygrad.mlEnglish · 2 years ago
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BRICS: Egypt Officially Ditches US Dollar For Trade
watcher.guru
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A newly welcomed BRICS nation, Egypt has officially ditched the US dollar for trade, opting to instead use local currencies.
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  • Tankiedesantski [he/him]@hexbear.net
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    2 years ago

    This could have some pretty significant implications on the standoff at the Egyptian-Israel border, though I doubt the effects will be seen that quickly.

  • 小莱卡@lemmygrad.ml
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    2 years ago

    Nice, looking forward for the next development within brics. Did Saudi Arabia really join? Some sources say they did, some say they are still considering it, wikipedia is not updated either.

    • SadArtemis🏳️‍⚧️@lemmygrad.ml
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      2 years ago

      Looking it up (though the only source is Reuters- so who’s to say) the Saudis seem to be on the fence (not yet having responded to the invitation, officially looking into whether to join or not)

      • 小莱卡@lemmygrad.ml
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        2 years ago

        BBC, bloomberg and WSJ say they did, its been 2 weeks from these how is it not clear yet, mainstream media is so goddamn unreliable. It is a huge deal if SA joins, it very well could mean the end of the petrodollar.

  • lemat_87@lemmygrad.ml
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    2 years ago

    Another step to deflate the U$ hegemony. Good news!

  • PeeOnYou [he/him]@lemmygrad.ml
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    2 years ago

    aww yiss

  • ☭ 𝗚𝗿𝗮𝗶𝗻𝗘𝗮𝘁𝗲𝗿 ☭@lemmygrad.ml
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    2 years ago

  • StalinistApologist [he/him]@hexbear.net
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    2 years ago

    way to go mexico!

  • Stalins_Spoon@lemmygrad.ml
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    2 years ago

    Wasn’t Sisi an American puppet?

    • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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      2 years ago

      Looks like even puppets have limits.

  • Aniki 🌱🌿@lemm.eeBanned
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    2 years ago

    https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

    #38.

    Don’t let the door hit you on the way out!!

    • 小莱卡@lemmygrad.ml
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      2 years ago

      Small quantitative changes lead to qualitative changes, you do realize this?

      • Aniki 🌱🌿@lemm.eeBanned
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        2 years ago

        In how many lifetimes are we talking about?

        • 小莱卡@lemmygrad.ml
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          2 years ago

          You might get to see it since you are a child.

          • Aniki 🌱🌿@lemm.eeBanned
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            2 years ago

            I’m a child because you don’t like facts? Sounds pretty childish.

            • taiphlosion@lemmygrad.ml
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              1 year ago

              deleted by creator

            • 小莱卡@lemmygrad.ml
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              2 years ago

              you keep proving my point lol

        • الأرض ستبقى عربية@lemmygrad.ml
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          2 years ago

          One, and they are using GDP (nominal) https://www.visualcapitalist.com/charted-comparing-the-gdp-of-brics-and-the-g7-countries/

          Many of BRICS’ current members already have real GDP growth rates that are higher than their G7 counterparts, with current members having an average GDP growth of 189% to 2050 compared to the G7’s average of 50%, according to Goldman Sachs.

          BRICS’ newly added members like Ethiopia (1,170% GDP growth projected by 2050) and Egypt (635% GDP growth projected by 2050) have even higher rates of potential economic growth, further raising the bloc’s economic potential.

          • Aniki 🌱🌿@lemm.eeBanned
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            2 years ago

            projected growth

            So not real growth. Got it.

            🥱

        • QueerCommie@lemmygrad.ml
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          2 years ago

          Mine

    • o_d [he/him]@lemmygrad.ml
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      2 years ago

      https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP) 🇨🇳☭🇨🇳☭🇨🇳☭🇨🇳

      • o_d [he/him]@lemmygrad.ml
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        2 years ago

        deleted by creator

      • Aniki 🌱🌿@lemm.eeBanned
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        2 years ago

        🤡 Your own list has Iran just below Egypt. Do you think Iran has ever traded in petrodollars? This will have absolutely no effect to actually hurting the Egyptian economy.

        • QueerCommie@lemmygrad.ml
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          2 years ago

          Yeah, it won’t hurt the Egyptian economy, what’s your point.

        • o_d [he/him]@lemmygrad.ml
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          2 years ago

          It’s not my list. It’s natopedia. The same source that you used. In fact, I found the link within that page that you linked.

          PPP represents the real economy. You’ll recognize this soon enough when every nation outside the west has dedollarized and the USD is no longer propped up by its need for trade.

    • albigu@lemmygrad.ml
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      2 years ago

      Third world countries will do literally anything to benefit their national sovereignity and fragile gringoes will come out of the woodwork to yell “You won’t be missed! Babe come back! It’s for your own good!”

    • miz@lemmygrad.ml
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      2 years ago

      Two economists are walking in the park. The first economist sees a pile of dog shit and says to the other, “I’ll pay you $50 to eat that dog shit.” So he does and gets paid $50. Later on, the second economist sees a pile of dog shit and says to the first, “I’ll pay you $50 to eat that pile of dog shit.” So he does and gets paid $50.

      The first economist says, “I can’t help but feel we just ate dog shit for nothing.” “Nonsense,” says the second economist, “We just contributed $100 to the economy.”

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