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FoxtrotDeltaTango@sh.itjust.works to World News@lemmy.worldEnglish · 2 days ago

Storm clouds gather over America’s financial supremacy. Its payments firms may be the first casualties

www.economist.com

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Storm clouds gather over America’s financial supremacy. Its payments firms may be the first casualties

www.economist.com

FoxtrotDeltaTango@sh.itjust.works to World News@lemmy.worldEnglish · 2 days ago
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www.economist.com
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  • Apocalypteroid@lemmy.world
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    2 days ago

    The American empire is on the verge of collapse. It won’t be missed.

    • pelespirit@sh.itjust.works
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      2 days ago

      The entire world will have to rebuild. Not sure why everyone wants the US to be as bad as Russia.

      • Akh@lemmy.world
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        2 days ago

        Nobody wants it except republicans, but Americans are hell bent on letting republicans destroy their country.

      • blartcap_@lemmy.dbzer0.com
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        Nobody wanted it. It’s the Americans who stupidly and ignorantly chose that path without even thinking they did.

        • Pollo_Jack@lemmy.world
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          2 days ago

          To be fair, Trumpstein and gang had multiple opportunities to be arrested for child sex trafficking in other countries too. No one puts criminals where they belong, eventually they will end up where they don’t belong.

      • TheIvoryTower@lemmy.world
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        2 days ago

        These days I feel like its not Russia vs USA, its Russia & USA vs China.

        Personally I’m all-in on the EU though.

        • pelespirit@sh.itjust.works
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          I’m not saying we’re competing, I’m saying we don’t want to compete for the bottom and be like russia. They’re really hurting right now.

          • TheIvoryTower@lemmy.world
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            2 days ago

            Gotcha, agreed.

    • CapuccinoCoretto@lemmy.world
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      Can’t happen fast enough.

  • SaveTheTuaHawk@lemmy.ca
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    2 days ago

    Canada has Interac. We had secure chip cards long before the US, doing money transfers person to person is trivial.

    At one point, I had to travel in the US with a burner credit card because the card number was stolen every time.

  • DigDoug@lemmy.world
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    It’s almost like putting tariffs on everybody who looks at you strangely and threatening to annex your allies will cause them to stop trusting you.

    • Pollo_Jack@lemmy.world
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      Exactly what a Russian puppet president would do to isolate us for a rival country.

    • rollerbang@lemmy.world
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      2 days ago

      Who looked at them strangely? This was all just trying to look though for no reason. And for the situation they’ve created themselves in the first place.

  • Riddick3001@lemmy.world
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    1 day ago

    Regional Powers like Brazil, India, China and the EU are moving away from Swift which is under US majority control , and/or the US owned Mastercard/Visa system ( #E):

    “The rise of “sovereign” systems, especially in Europe, a big source of Visa’s and Mastercard’s international business, could erode their enviable operating margins of over 50%. In their latest annual reports, both companies brought up “preferential” treatment of domestic payments systems as a risk to business. That may be one reason why investors have lately been lukewarm about the two giants, despite healthy earnings. After a sustained climb starting in 2023, their share prices have declined in the past year (see chart).”

    #edit see comment

  • P1nkman@lemmy.world
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    Let it burn.

  • funkajunk 🇨🇦@lemmy.world
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    Paywalled

    • naught101@lemmy.world
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      2 days ago

      https://archive.is/20260712175132/https://www.economist.com/finance-and-economics/2026/07/12/storm-clouds-gather-over-americas-financial-supremacy

      • funkajunk 🇨🇦@lemmy.world
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        2 days ago

        Thanks!

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