For today's discussion for the webinar https://www.federalreserve.gov/econres/feds/files/2024036pap.pdf?hl=en-US#:~:text=We%20construct%20the%20acceptable%20sacrifice%20ratio%E2%80%94the%20increase,Cecchetti%20and%20Rich%2C%202001%2C%20and%20Tetlow%2C%202022).

According to this video: https://youtu.be/NRWDn5b6SKU?is=2CrcoLgd6K9fLA_T BRICS, spurred by the conflict in Iran, are beginning to successfully circumvent the Eurodollar system. Video summary: China has undermined US/Western sanctions on Iran, Russia, and North Korea by building parallel financial systems. CIPS and mBridge enable faster, cheaper trade settlements in yuan that bypass USD, SWIFT, and Western banks—rendering sanctions largely invisible and unenforceable. Iran sells oil to China (and buys goods) in renminbi; North Korea’s economy is booming via China/Russia ties; Russia’s post-2022 sanctions accelerated the shift. Daily CIPS volume exceeds $100B, eroding the dollar’s dominance.

https://grok.com/share/bGVnYWN5LWNvcHk_a42f0139-1c06-4fdf-b48a-219cbb2d0c3c Edit: Content in comment below.

Study conducted in 2022 that demonstrated coffee consumption prior to retail shopping drastically increased purchases of hedonic products (luxuries) and had no influence on purchasing of utilitarian products (non-luxuries). Interestingly the participants when surveyedprior to the study mostly expected no difference in their shopping behavior. Imo one key takeaway here, don't drink a cup of coffee before taking the 10 dollar bill into the store to buy dinner groceries 😉