💵 🇨🇳 🇸🇦 China and Saudi Arabia enable trade and investment in local currencies — yuan and riyals.
🔶️ It’s done by a “currency swap agreement” and is worth $7 billion — a small amount that can/will grow.
🔶️ This enables deals that both countries want to keep out of the prying eyes of the USA.
🔶️ Every time you use USD, you must go through US banks, and thus lose privacy.
📎 S.L. Kanthan
British man attacked for entering a ‘no-go zone’ in London.
A horde of Islamists surrounded him and questioned why he was in ‘their’ neighborhood.
They threatened him and began chanting ‘Allahu Akbar’ as they kicked him out.
A 65-year-old couple retiring in 2025 with average earnings will receive an estimated $1.34 million in lifetime benefits, while contributing only $720,000 in today’s dollars.
That shortfall—more than $600,000 per couple—is being made up by younger workers.
“Most of the growth in spending has gone to retirement and healthcare, while programs that promote upward mobility... have been left behind”
https://www.newsweek.com/social-security-medicare-young-workers-cost-10477619