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   ᔅᑕᕐᐗᓪ (starwall@wizzzard.online)'s status on Tuesday, 22-Oct-2024 06:26:47 JST ᔅᑕᕐᐗᓪ

   dedollarize, decolonize

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     ᔅᑕᕐᐗᓪ (starwall@wizzzard.online)'s status on Tuesday, 22-Oct-2024 06:26:40 JST ᔅᑕᕐᐗᓪ

     in reply to

     "Every night I ask myself why all countries have to base their trade on the dollar" - Lula

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     ᔅᑕᕐᐗᓪ (starwall@wizzzard.online)'s status on Tuesday, 22-Oct-2024 06:26:41 JST ᔅᑕᕐᐗᓪ

     in reply to

     Imagine now, an end to US empire in our lifetimes...

     feld repeated this.
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     ᔅᑕᕐᐗᓪ (starwall@wizzzard.online)'s status on Tuesday, 22-Oct-2024 06:26:42 JST ᔅᑕᕐᐗᓪ

     in reply to

     Direct transfers between national central banks without need of the dollar frees so much of the world from imperial puppet strings. Over half of all poor countries are sanctioned by the US, this will begin to provide a remedy.

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     ᔅᑕᕐᐗᓪ (starwall@wizzzard.online)'s status on Tuesday, 22-Oct-2024 06:26:43 JST ᔅᑕᕐᐗᓪ

     in reply to

     Dedollarizing isn't just passing the torch from one imperial power to another, this is about establishing indigenous banks and development funds, this is about uplifting the Global South and ending the flow of unequal trade to the imperial core, flat out. This is a community of nations which have been shown a different path for development rather than the austerity and western multinational dominance prescribed upon them by the IMF. This is really exciting stuff.

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     ᔅᑕᕐᐗᓪ (starwall@wizzzard.online)'s status on Tuesday, 22-Oct-2024 06:26:46 JST ᔅᑕᕐᐗᓪ

     in reply to

     the SWIFT system and international banks such as IMF and World Bank are distinctly US institutions, designed over 100 years ago for the benefit of the western powers when they all still had control over much of the world. these institutions, which are necessary pillars of neocolonialism, must be made obsolete. The US maintains sanctions on a third of all countries on Earth, sanctions which only have the power to freeze assets and halt dealings only while these institutions remain the only way.

     The US and EU have raised interest rates, shooting their own economies in the foot, but by doing this they massively increase the value of their own currencies against global south currencies, making it even harder to pay off their debts or to raise interest rates themselves and destroy their own economies in the process. This is the flow of money and development away from the poorest counties, to the richest.

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     feld (feld@friedcheese.us)'s status on Tuesday, 22-Oct-2024 06:35:32 JST feld

     in reply to

     • Chumchum Tumtum
     @fcktheworld587 @starwall You need dollars to buy oil.
     
     Because we made a deal with OPEC to guarantee they'd only sell it in dollars.
     
     Every country needs oil for some purpose... so they need dollars.
     
     And if you try to sell oil without dollars? We'll send the troops to fix that.
     
     Don't forget Saddam started selling oil in euros. There have been attempts to downplay this fact but I don't think it should be ignored. If world trade or even oil stopped using dollars it would be very bad for our economy.
     
     https://www.theguardian.com/business/2003/feb/16/iraq.theeuro
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     Chumchum Tumtum (fcktheworld587@social.linux.pizza)'s status on Tuesday, 22-Oct-2024 06:35:33 JST Chumchum Tumtum

     in reply to

     @starwall because America has the big stick