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Euro continues to lose importance as reserve currency
553 sats \ 19 comments \ @TomK 13 Jun econ
According to the latest figures from the European Central Bank, the euro has continued to lose ground in the power play of world currencies. Within one year, the stock of euros as a reserve currency in the world has fallen by 5% or 100 billion euros. It now accounts for only 20% of global reserves.
One of the causes, and the ECB's central bankers of all people have come to this conclusion, is the sanctions against Russia. Who would have thought that excluding the world's largest supplier of raw materials and energy from the economic equation could have a negative impact on the trade structure and stability of a currency? All this while having no own relevant energy reserves whatsoever (except of the unicorn dreams of the green socialists and liberal-communists in Germany that are fighting the apocalypse. They don't need energy for their green Walhalla). As the saying goes: playstube games, win stupid prices. The crash of the euro will continue in waves...
https://www.ft.com/content/7e7bcb76-2d4b-41b1-8cea-73bebf74724b
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67 sats \ 0 replies \ @0xbitcoiner 13 Jun
let bitcoin save us !
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52 sats \ 1 reply \ @0xbitcoiner 13 Jun
https://m.stacker.news/35160
https://www.ecb.europa.eu/press/other-publications/ire/html/ecb.ire202406~0b56ba4f71.en.html
https://m.stacker.news/35161
https://data.imf.org/?sk=e6a5f467-c14b-4aa8-9f6d-5a09ec4e62a4
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32 sats \ 0 replies \ @TomK OP 13 Jun
Perfect. Good overview. This shitcoin is dying way before the USD
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21 sats \ 9 replies \ @SwapMarket 13 Jun freebie
What's the point to link a paywall article? I say good job calling Putin's bluff. He surely did not expect such a reaction. If the world does nothing when a large country invades its small neighbor, small nations will be exterminated eventually.
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45 sats \ 7 replies \ @flat24 13 Jun
Those nations that are invaded stealthily and silently have a greater risk of extermination, until it becomes noticeable and the system collapses. ehem the waves of Arabs and Africans in Europe, where all kinds of things are already seen thanks to this, and the soft policies by the socialist rulers of the region in different countries (Spain, Germany, France are examples) on the other hand I think that Putin is not my favorite saint, but I also think that not everything the Western media will say about him will be true, and something that I firmly believe is that Nazism must be fought (and that is what Putin does in Ukraine ) and finally I would like to remember that we never know nor will we know the true interests of both parties, we can only deduce and think based on the information that we are capable of processing. and information from both sides must be processed to discover the truth because it is usually always hidden from the common eye. I am not with any political party, I am in favor of the free and sovereign man who must take care of himself, but I am not irrational either. I know very well that at this stage of humanity, a government that controls the system and controls the citizens is necessary. They are not awake otherwise everything would be chaos. So we must ensure that whoever governs defends the values ​​of freedom, not that he comes with populist and social welfare offers that we already know what actually results (communism, where only the executioner (State) benefits at the cost of bleeding his prey). (Common Citizens, the famous plebs as always)
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21 sats \ 6 replies \ @SwapMarket 13 Jun freebie
"Nazism must be fought (and that is what Putin does in Ukraine )" "we never know nor will we know the true interests" is exactly what Russian TV propaganda shits in the heads of its citizens, so you must be one of them. I am Russian, I love my country, but Putin is a fascist dictator, who usurped power and murdered thousands of good people. Fuck you.
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0 sats \ 5 replies \ @TomK OP 13 Jun
Hey. We're observing thr economy here. The political clown show on both sides only is interesting as it moved markets and has impacts on geopolitics.
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21 sats \ 4 replies \ @SwapMarket 13 Jun
You've set the tone calling an economic response to a military aggression stupid. I say evil must be fought, and sure thing it is a costly affair. It was stupid not to see where it was going after 2008 Georgia invasion: continuing to trade with Russia and helping it get stronger, so now the cost is much higher. Remember Sudetes. Global economy is all about geopolitics.
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4 sats \ 3 replies \ @TomK OP 13 Jun
You clearly have no idea of the historic background of this conflict. It's all out there, study it before insulting me.
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0 sats \ 2 replies \ @SwapMarket 13 Jun
You clearly justify killing and jailing political opponents and journalists, amending constitution and falsifying elections to stay in power forever, controlling all media to brainwash citizens into hating "external enemies" instead of close circle of gangsters who privatized the country. This is the "historic background".
You are either a kremlin bot or a useful fool pedalling their agenda.
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0 sats \ 1 reply \ @TomK OP 13 Jun
Whatever You want. And now leave, please.
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0 sats \ 0 replies \ @TomK OP 13 Jun
Use archive.is
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0 sats \ 0 replies \ @TomK OP 14 Jun
today is a prime example of the ECB's trade off: if it wants to save the euro, it has to keep the money supply stable. if it wants to save the public finances of the deeply indebted euro states, it has to buy euro bonds, i.e. bring fresh foreign exchange into circulation, which further weakens the euro. today the euro continues to fall, while interest rates on european government bonds are falling. has the decision already been made in favor of public finances?
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0 sats \ 0 replies \ @riberet19 13 Jun
As I said before, Euro is the new shitcoin, Bitcoin will take its place
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0 sats \ 3 replies \ @supertestnet 13 Jun
All this while having no own relevant energy reserves whatsoever
world-nuclear.org begs to differ:
In 2022 France's reactor fleet produced 282 TWh... Output rose in 2023 to 320 TWh as reactors returned to service following inspections and repairs. EDF estimates output of 315-345 TWh for 2024, and 335-365 TWh in both 2025 and 2026. ... France [also] announced plans to build six new reactors and to consider building a further eight. source
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42 sats \ 0 replies \ @wingalt 13 Jun
It goes in the right direction but is only reversing bad policies from the last two decades. France used to be energy independent with producing 90% of its energy in its nuclear plants, that proportion had fallen to 60% and after the sanctions on Russian gas bit them hard they are trying to come back to the place they were before, minus the cheap uranium from Niger
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0 sats \ 1 reply \ @TomK OP 13 Jun
So why do they need to import that much? And the uranium grows in Macrons garden? Please...
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100 sats \ 0 replies \ @supertestnet 13 Jun freebie
Willingness to manufacture is also a resource
Most countries shied away from nuclear energy production for far too long, and the tide is only barely beginning to shift back in a good direction. France is leading the way in this department, not just by ramping up nuclear energy production but also by exporting the resulting energy to less willing european nations
Also, although France does not currently mine for uranium on its mainland, there are significant deposits of it in France so your sarcastic quip about uranium growing in Macron's garden is pretty much accurate. source
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