BRICS & New World Order Thread

[gelgoog]

Venezuela has heavy hard to extract and process oil. It needs a lot of specific equipment to use it. Refineries have to be tailored to process it. Dillutants must be applied to the oil to even be able to pump it (what comes out of the ground is more like tar than oil).
Their major historical customer was the US and PDVSA built most of its refineries in the US close to where the customer was. Those got taken away from PDVSA by the US government.

Their dillutants used to come from the US since the US extracts light oil which is suitable for dilluting heavy oil.

Most of the oil services companies are also located in the US, and as you can guess most of the oil equipment Venezuela used to use was of US origin. That was why they got screwed with little recourse.

Venezuela has also historically been highly dependent on imports, and their sole major export has been oil. And this is not a problem that started when Chavez or Maduro went in. It has been like that for like 80 years or more.

While there are solutions to these problems it isn't something you can do quickly.

 

[BlackWindMnt]

Venezuela has heavy hard to extract and process oil. It needs a lot of specific equipment to use it. Refineries have to be tailored to process it. Dillutants must be applied to the oil to even be able to pump it (what comes out of the ground is more like tar than oil).
Their major historical customer was the US and PDVSA built most of its refineries in the US close to where the customer was. Those got taken away from PDVSA by the US government.

Their dillutants used to come from the US since the US extracts light oil which is suitable for dilluting heavy oil.

Most of the oil services companies are also located in the US, and as you can guess most of the oil equipment Venezuela used to use was of US origin. That was why they got screwed with little recourse.

Venezuela has also historically been highly dependent on imports, and their sole major export has been oil. And this is not a problem that started when Chavez or Maduro went in. It has been like that for like 80 years or more.

Most countries were western governed and the sectors that got build out were build with western equipment. This situation is the classic middle income trap, because to become a high income country you need the blessing of the west to get access to catalog containing the machinery and licenses to transition. The only way to break through this trap is to have a whole of nation program to create domestic machinery etc. Kind of like how China, Russia and Iran are doing.

 

[gelgoog]

Most countries were western governed and the sectors that got build out were build with western equipment. This situation is the classic middle income trap, because to become a high income country you need the blessing of the west to get access to catalog containing the machinery and licenses to transition. The only way to break through this trap is to have a whole of nation program to create domestic machinery etc. Kind of like how China, Russia and Iran are doing.

Ever watched the scene in the Lawrence of Arabia movie when the Arab army takes Damascus from the Ottomans and then the French and British take all their technical advisors out and the telephones and electricity stop working?
The US also does this trick all the time. In Chile the telephones were operated by US companies and when they wanted to coup Salvador Allende ITT sabotaged the phone service.

 

[CMP]

Ever watched the scene in the Lawrence of Arabia movie when the Arab army takes Damascus from the Ottomans and then the French and British take all their technical advisors out and the telephones and electricity stop working?
The US also does this trick all the time. In Chile the telephones were operated by US companies and when they wanted to coup Salvador Allende ITT sabotaged the phone service.

Yup. The only choice is freedom from or slavery to the West. And freedom has a huge price that the West inflicts on you. Wish more people understood that basic fact.

 

[BlackWindMnt]

Ever watched the scene in the Lawrence of Arabia movie when the Arab army takes Damascus from the Ottomans and then the French and British take all their technical advisors out and the telephones and electricity stop working?
The US also does this trick all the time. In Chile the telephones were operated by US companies and when they wanted to coup Salvador Allende ITT sabotaged the phone service.

I haven't seen Lawrence of Arabia but the last time i noticed this sort of behaviour was when the french moved out of Niger(maybe some other african place) and they destroyed vehicles and other machinery if i'm not mistaken. But also to a lesser extend this coup in Venezuela where the rebels put a hospital on fire.

 

[tphuang]

while Western fund managers continue to complain about Chinese government not putting in policies to help make money for them, we have Saudi Wealth Fund here signing another $50B to invest in Chinese banks. Of course, this is still just a fraction of the money that the Saudis invest in Western markets.

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[gelgoog]

Probably just hedging their bets to make sure. So the same thing which happened to Russia does not happen to them.
You have to remember that some people in the Democratic party in the US wanted to sanction Saudi Arabia for the murder of Jamal Khashoggi. Later because of its intervention in Yemen some years ago. Saudi Arabia regularly intervenes in countries in its periphery. They did the same thing in Bahrain for example.

 

[ansy1968]

Probably just hedging their bets to make sure. So the same thing which happened to Russia does not happen to them.
You have to remember that some people in the Democratic party in the US wanted to sanction Saudi Arabia for the murder of Jamal Khashoggi. Later because of its intervention in Yemen some years ago. Saudi Arabia regularly intervenes in countries in its periphery. They did the same thing in Bahrain for example.

MBS is a huge DEAN MARTIN fan.

American equity = huge bubbles.

Chinese equity = tiny bubbles.

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[Maikeru]

Interesting article on what the various members want out of BRICS. I know a lot of people here would be happy if India left BRICS, but without them it basically becomes the China fan club, and less attractive and effective as a result:

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[Equation]

Interesting article on what the various members want out of BRICS. I know a lot of people here would be happy if India left BRICS, but without them it basically becomes the China fan club, and less attractive and effective as a result:

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Now take China out of the BRICS and no one will be reporting about it or even think about it. That's how big China is.