BRICS is slowly gaining steam, Saudis no longer selling fossil resources exclusively in Petro Dollar, African nations are calling for their members of parliament do derisk of a US dollar collapse by selling whatever dollars they're still holding, inflation is rising due to the FED raising interest rates.

Probably won't happen this year but I'd be surprised if the dollar didn't start dipping in 2024.

[–] Ooops@feddit.de 15 points 1 year ago (6 children)

inflation is rising due to the FED raising interest rates.

That's probably the most none-sensical statement I read for quite some time.

[–] EnderWi99in@kbin.social 2 points 1 year ago (2 children)

Yeah this person just lined up a series of completely idiotic statements. The FED raising rates lowers inflation, and inflation in the US is back down to 3% as of this past quarter. They also claimed BRICS was taking off when it's literally quite the opposite. BRICS is never going to happen with its member countries basically in opposition of one another.

[–] 133arc585@lemmy.ml 1 points 1 year ago

BRICS is never going to happen with its member countries basically in opposition of one another.

Can you lay out precisely how its member countries are in opposition of one another?

[–] zephyrvs@lemmy.ml -3 points 1 year ago

I think your assessment of what the Fed is doing is either based on underestimating the complexity of the monetary system or you've been misinformed by people who don't have your interests at heart. Please check this comment where I provide a source for my assessment of what the Fed is doing: https://lemmy.ml/comment/1684511

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