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Millions of tons of annual agricultural trade is now being conducted outside the US dollar, and within the new BRICS framework.
This represents a tectonic shift in global finance, as the dominant trading hubs of New York, Chicago, and London are replaced by a multipolar system of bilateral trades using national currencies and non-USD-denominated pricing and contracts.
The already huge volumes of trade in ag, energy, and raw materials are destroying price discovery in global markets. Decisionmakers and executives in Western companies are unable to see markets, nor can they know what parties are driving demand, nor which suppliers are emerging to meet that demand. Our senior-level business managers and planners are flying blind, and only after realizing giant losses we learn that we are now suppliers only of last resort: the BRICS countries and their allied countries across the world are producing and trading at prices far below our cost of production.
Resources and links:
Record U.S. Agricultural Trade Deficit Forecasted to Keep Growing
https://www.fb.org/market-inte....l/record-u-s-agricul
Why U.S. agricultural exports are down almost 20% from last year
https://www.marketplace.org/20....23/09/29/why-us-agri
Why is China canceling US wheat shipments?
https://www.dw.com/en/why-is-c....hina-canceling-us-wh
Bloomberg, China’s Waning Hunger for Grain Spells Trouble for World Market
https://www.bloomberg.com/news..../articles/2024-06-12
Visual Capitalist: visualizing the BRICS expansion in 4 charts
https://www.visualcapitalist.c....om/visualizing-the-b
Inside China Business, China wrecks wheat markets in US, Europe, and Australia. Should American farmers sell off land?
https://www.youtube.com/watch?v=ZtSXC6mdchM
CME Group futures markets for near-dated contracts
https://www.cmegroup.com/marke....ts/agriculture.html#
Futures heat map from
www.finviz.com / futures
Closing scene, Dalian, Liaoning province
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While the eruptions of the volcanoes along the Mid-Atlantic Ridge usually don't trouble us, their birth was once responsible for ripping a supercontinent apart and creating the Atlantic Ocean that we know today.
Correction: 2:28 A change of 100˚C = a change of 180˚F
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Relatives of civil-rights activist Malcolm X are suing US law enforcement agencies for complicity in his assassination 60 years ago.
They claim the FBI, CIA and the New York Police Department were all aware of a plot to assassinate him but did nothing to stop it, seeking $100m in damaged.
Three men were convicted of his murder, but two were exonerated more than 50 years later when the case was re-examined.
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Rwanda-backed M23 Rebels Capture Kavumu Airport, Move Closer to Bukavu | Firspost Africa | N18G
Rwanda-backed M23 rebels continue their advance in DR Congo's mineral-rich east. The rebels have seized the airport serving the city of Bukavu, the capital of South Kivu province. This represents a major strategic victory for the rebels, as it cuts off air supply routes for DRC army and humanitarian operations in the region. The rebels have so far North Kivu's capital Goma, the largest city in mineral-rich east. They have now entered neighbouring South Kivu and have seized Kavumu, where the army had set up a defensive line. After breaching this they can easily target South Kivu's capital Bukavu. Rebels' advance come as African leaders are gathering to discuss the crisis at the AU summit.
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M23 Rebels | DR Congo | Felix Tshisekedi | Rwanda | Kavumu Airport | Bukavu | Firstpost Africa | Alyson Le Grange | Africa | Global South | Geopolitics | Military Coup | Environment | Climate Change | Firstpost | News Live | World News | Latest News | Global News | International News | News | Trending News
#rwanda #m23 #m23rebels #felixtshisekedi #drcongo #drc #firstpostafrica #africa #alysonlegrange #globalsouth #militarycoup #firstpost #newslive #worldnews #latestnews #globalnews #news #internationalnews #trendingnews
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