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OhFunny posted:EU-Russian oil trade being done in Euros instead of US dollars is actually big news. It was all done in US dollars ten years ago, because the dollar was king. The Euro has almost overtaken the US dollar in Russia’s trade with the EU now. why on earth were they doing that. international trade in bulk commodities is complicated enough as is why add an unnecessary currency exchange? okay let me explain let’s say you’ve got a contract for grain that’s going to be shipped by vessel. that contract is going to have a buncha important dates. ya have to have a NOR by a certain date. vessel might have be alongside the pier at a certain date, might have to sail by a certain date etc. all with gently caress you clauses if those dates pass by. on top of that you’ve got currency swaps to fix the exchange rate and those swaps have expiration dates too. like there is a dozen ways to just get wrecked by poo poo outside ones control. why were they adding another unnecessary lol ya got hosed risk with an additional currency exchange?
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Jun 3, 2021 21:43
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skooma512 posted:If it's a class action, enjoy your 23 dollars and some Taco Bell coupons I found out today that they got rid of the beefy potato-rito which was the best thing on the dollar menu. You can DIY it in the app but it comes out to more than a dollar and that's bullshit! $YUM won't get a boost until they stop loving with the favorites imo.
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Jun 3, 2021 21:51
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Bar Ran Dun posted:why on earth were they doing that. international trade in bulk commodities is complicated enough as is why add an unnecessary currency exchange? they have pipelines direct from russia to europe so i guess currency conversions is less of an issue where oil is concerned
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Jun 3, 2021 21:52
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Bar Ran Dun posted:why on earth were they doing that. international trade in bulk commodities is complicated enough as is why add an unnecessary currency exchange? because they see the US as a threat and want to hedge against US meddling in their trading? this isn't rocket science
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Jun 3, 2021 21:53
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double nine posted:because they see the US as a threat and want to hedge against US meddling in their trading? this isn't rocket science backwards I’m saying why would you ever have gotten the dollar involved in a euro Russia commodity trade? there is only downside.
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Jun 3, 2021 22:00
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lol some lady on Reddit lost 600k from naked selling AMC calls.
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Jun 3, 2021 22:01
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Bar Ran Dun posted:backwards ah I see. No idea, maybe a cold war relic or from when all those western economists came to 'help' the soviet union westernise back in the 90s?
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Jun 3, 2021 22:03
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PawParole posted:lol some lady on Reddit lost 600k from naked selling AMC calls. if her broker let her do that in the first place, she can probably cover it, might have to sell a spare house lol
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Jun 3, 2021 22:04
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“Reddittor" posted:
The IV will be too high for her to make any profit because she did not hedge. Don’t cook naked and don’t sell calls naked. Always cover your calls, this is a PSA PawParole has issued a correction as of 22:07 on Jun 3, 2021 |
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Jun 3, 2021 22:05
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PawParole posted:The IV will be too high for her to make any profit because she did not hedge. Don’t cook naked and don’t sell calls naked. The house always wins.
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Jun 3, 2021 22:08
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stellers bae posted:getting everyone more pay just to pay higher prices on everything seems sustainable, to me
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Jun 3, 2021 22:13
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Zil posted:The house always wins. Well, no. She’s the house and she lost.
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Jun 3, 2021 22:13
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PawParole posted:lol some lady on Reddit lost 600k from naked selling AMC calls. how did she lose money isn't AMC TO THE MOON?
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Jun 3, 2021 22:14
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Bar Ran Dun posted:backwards before the rise of the euro, the us dollar was basically the one currency attached to a large enough economy that pricing things with it was more or less guaranteed to never screw you because of currency fluctuations or similar events. also, converting anything to or from USD was trivial, whereas converting large amounts between other currencies directly could be a pain. so just price everything in dollars and let both parties in a given transaction figure out how they want to get/dispose of those dollars; there's even a good chance they already have accounts in dollars for other operations anyway and they might not even need to convert most of them to their native currencies, so that's a win it was probably a legacy of those times
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Jun 3, 2021 22:17
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Nonsense posted:how did she lose money isn't AMC TO THE MOON? she was betting against AMC going to the moon and the further to the moon AMC went, the more money she would lose, without an upper limit
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Jun 3, 2021 22:18
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If European countries were selling to the United States (most are) they would likely already have a surplus of dollars.
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Jun 3, 2021 22:25
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dollar availability used to be one of the top concerns of any given european government up until, like, the seventies that i know of for sure the norwegian labour government basically killed a major strike in the sixties due to concerns about this, for instance - it was an american company, so they paid in dollars, which was valuable enough that what they wanted they mostly got
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Jun 3, 2021 22:35
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i seem to remember this also being a major concern in one of the original james bond novels, with the diamond trade being especially important because it brought in a ton of dollars it's one of those issues which used to be a massive deal but which is much less so now due to, presumably, developments in communications technology
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Jun 3, 2021 22:37
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V. Illych L. posted:i seem to remember this also being a major concern in one of the original james bond novels, with the diamond trade being especially important because it brought in a ton of dollars its because we still made poo poo until the 1970s so dollars weren't just flowing out of america non-stop
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Jun 3, 2021 22:39
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Bar Ran Dun posted:backwards if we're talking history... wasn't dollar-supremacy in international trade largely due to the fact the US (re)wrote a bunch of trade treaties after having "won" WWII by being the only major industrialized nation not to get bombed to poo poo (and deliberately loving over our allies. like nuking Japanese civilians to coerce the emperor to surrender a couple of weeks earlier, to block USSR from the negotiations)
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Jun 3, 2021 22:41
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V. Illych L. posted:dollar availability used to be one of the top concerns of any given european government up until, like, the seventies that i know of for sure It was also the immediate post-Bretton Woods where most European currencies were tied USD (still backed by gold) and European governments were desperate for USD since it was essentially their government banking gold. Obviously, this changes with first the US going fully fiat and then the oil crises, by the 1980s, the currency situation is a lot more fluid. By the early 2000s the USD had re-entrenched itself with the relative weakness of the Yen (to about 71% of reserves) and over time it has worked it's way down to 59%. That said, I think this is really just the beginning. (I assume the diamond trade was important in Bond novels because electronic tax evasion/money laundering hadn't advanced to the level it is now at and you literally had to move diamond/gold bricks/bearer bonds around.) Ardennes has issued a correction as of 22:46 on Jun 3, 2021 |
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Jun 3, 2021 22:41
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silentsnack posted:if we're talking history... wasn't dollar-supremacy in international trade largely due to the fact the US (re)wrote a bunch of trade treaties after having "won" WWII by being the only major industrialized nation not to get bombed to poo poo it was one of the many facets of the system that established the american empire post-wwii, yes. and like every other part of the system, it's still mostly there but decaying because the failsons of today either take it for granted or don't even realize it exists
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Jun 3, 2021 22:45
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Deep Dish Fuckfest posted:it was one of the many facets of the system that established the american empire post-wwii, yes. and like every other part of the system, it's still mostly there but decaying because the failsons of today either take it for granted or don't even realize it exists From their perspective, everything has always worked out for them and their parents/grandparents why not grab at much as possible? Usually, most oligarchical republics reach a point where the aristocracy is powerful enough it just loots the country into irrelevance. quote:C. P. Snow suggests that in the last half century of the republic, the Venetians knew "that the current of history had begun to flow against them," and that to keep going would require "breaking the pattern into which they had crystallised." Yet they were "fond of the pattern" and "never found the will to break it."[45] Ardennes has issued a correction as of 22:53 on Jun 3, 2021 |
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Jun 3, 2021 22:50
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Who was Kap speaking to here?
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Jun 3, 2021 22:57
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If you're rooting for American irrelevance that is very unlikely to happen in our lifetimes IMO. The best case scenario is that America will follow the path of UK and its influence will slowly wane. But even in the case of UK, the shrinking and eventual end of the British Empire were widely attributed to two back-to-back world wars that left the country decimated and its populace uninterested in imperialism. So without similarly huge shock(s) I don't think America and its hegemony are going anywhere.
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Jun 3, 2021 22:59
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Thorn Wishes Talon posted:If you're rooting for American irrelevance that is very unlikely to happen in our lifetimes IMO. The best case scenario is that America will follow the path of UK and its influence will slowly wane. climate change is happening, and the coming shock is going to be gigantic. it doesn’t need to be a world war.
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Jun 3, 2021 23:10
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Thorn Wishes Talon posted:If you're rooting for American irrelevance that is very unlikely to happen in our lifetimes IMO. The best case scenario is that America will follow the path of UK and its influence will slowly wane. without huge shocks is a load bearing assertion in this fever dream
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Jun 3, 2021 23:11
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Yeah..."following the path of the UK" isn't exactly a bright outcome if you care about hegemony.
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Jun 3, 2021 23:14
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it’s going to be a multipolar world all scrambling to pillage what’s left of africa and south america
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Jun 3, 2021 23:14
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Slow News Day posted:Yeah, regardless of how many people on this forum desperately want US hegemony to be replaced by glorious Chinese hegemony, I don't think China will ever be more than a regional power, at least in its current totalitarian, capitalist-in-name-only form. I remain hopeful that within the next 25 years or so their up-and-coming middle class will push back against the insanely strict central government control in every facet of Chinese life. If they manage to go through some sort of classical liberal transition (i.e. emphasis on civil liberties and economic freedom) then things could get interesting. It may look like a low-effort troll but this is what liberals actually think!
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Jun 3, 2021 23:21
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Thorn Wishes Talon posted:If you're rooting for American irrelevance that is very unlikely to happen in our lifetimes IMO. The best case scenario is that America will follow the path of UK and its influence will slowly wane. This is America. We are going to implode, explode, and find a new type of plode and take everything with us.
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Jun 3, 2021 23:25
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Popoto posted:climate change is happening, and the coming shock is going to be gigantic. it doesn’t need to be a world war. I don't agree because the effects of climate change are being felt too slowly for it to count as a shock compared to a world war where you may lose millions of your youngest and most productive people within the span of a few years. Like, sure, we've been getting bigger and stronger hurricanes but those are mostly local, or regional at worst. In addition, IMO Europe will have it much harder than the US as a result of climate change. They couldn't even handle ~100,000 refugees from the Syrian war, there's no way they'll be able to deal with millions of climate refugees from the places that'll be extra hosed by climate change: Middle East, India, Bangladesh, Myanmar, etc.
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Jun 3, 2021 23:28
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Thorn Wishes Talon posted:The best case scenario is that America will follow the path of UK and its influence will slowly wane. the best case scenario is that america is reduced to piss covered ashes and im what you would call an optimist
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Jun 3, 2021 23:30
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Raine posted:the best case scenario is that america is reduced to piss covered ashes and im what you would call an optimist I meant realistically speaking!
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Jun 3, 2021 23:30
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i don't think anyone believes that the us will stop being super important to world affairs, the question is just whether it will be as subject or object
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Jun 3, 2021 23:32
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Thorn Wishes Talon posted:I meant realistically speaking! so did i
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Jun 3, 2021 23:33
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pearl river delta will also be uninhabitable within our lifetimes
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Jun 3, 2021 23:35
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Thorn Wishes Talon posted:I don't agree because the effects of climate change are being felt too slowly for it to count as a shock compared to a world war where you may lose millions of your youngest and most productive people within the span of a few years. Like, sure, we've been getting bigger and stronger hurricanes but those are mostly local, or regional at worst. quote:In addition, IMO Europe will have it much harder than the US as a result of climate change. They couldn't even handle ~100,000 refugees from the Syrian war, there's no way they'll be able to deal with millions of climate refugees from the places that'll be extra hosed by climate change: Middle East, India, Bangladesh, Myanmar, etc. India, Bangladesh, Myanmar and other far eastern countries aren’t going to migrate all the way to Europe. there are so many better place to go that are closer to them. it’s mostly Mediterranean adjacent countries that do so and will do so.
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Jun 3, 2021 23:35
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however america collapses is going to be nothing like how any other empire ever collapsed the world is tiny now, and things happen in hours instead of weeks, and there's a fragile interdependent global network that supplies basic goods now such as car parts, teflon pans, backyard weather stations, internet routers, and medical equipment we printed 13 trillion dollars last year and the current plan is to keep printing and never stop, because if we did, both stocks and bonds would immediately collapse there's no way out of this other than war, but who can we invade that has assets we can plunder?
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Jun 3, 2021 23:36
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Thorn Wishes Talon posted:I don't agree because the effects of climate change are being felt too slowly for it to count as a shock compared to a world war. Like, sure, we've been getting bigger and stronger hurricanes but those are mostly local, or regional at worst. the issue of whether refugees can be accepted is not a question of whether the country has the material means to accommodate a sudden population increase... refugee policy is always gonna be mired in political deadlock until conservatism is expunged and prohibited. like, what do you think is gonna happen when south american populations get megahurricane'd? the displaced people all just magically vanish rather than risk inconveniencing a bunch of racist boomers? edit: Dustcat posted:we printed 13 trillion dollars last year and the current plan is to keep printing and never stop okay guess the "13 million" was a typo you fixed, because we print that much in seconds. silentsnack has issued a correction as of 23:40 on Jun 3, 2021 |
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Jun 3, 2021 23:36
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