Breaking And Not Good: China And Russia Quit U.S. Dollar. (Thanks Alot Obama)

[goldcatt]

russians do have long memories....i am sure they have not forgiven the us for their role in the defeat of the russians by afghans...and many other things....hell putin is about as friggin crazy as they come. the chinese have resource problems that are hard to overcome, their energies devoted to feeding their country.

Bingo! The Chinese have resource problems. And the US has never invaded Russia in a bloody attempt to grab their unexploited resources in Siberia either.

Like I said....there's more to this story.

 

[Annie]

This is an interesting move, considering the state and stability of the ruble. I wonder what the bigger picture looks like? China and Russia have never exactly been bosom buddies, the Russians have a long memory.

China's mad at the attempt at monetarizing the debt. Russia, well they're always happy to stick the knife in, as US does with them. I think it's just a matter of the enemy of my enemy...

I wonder. People who don't understand the bigger picture might interpret this as a Chinese and Russian statement that the ruble is stronger than the dollar (laughable), but China isn't going to do anything against its own interests just to jab a fork at us. And I highly doubt they want to end up holding ruble reserves. I'm betting there's more to this story. Just call it a hunch.

China has been pushing for an alternative standard to the dollar for quite a long time. It may well come to pass with choices being made.

What it would mean? Someone more knowledgeable than myself regarding economics hopefully will discuss.

 

[antagon]

this is an indication that there's an extent our monetary policy has succeeded in shaking off some of the massive drags. this has been a trend for over a year, moreover. not breaking news. as a result, less volatile nations are buying treasuries as they are the new targets of china's hording. good riddance.

 

[Mr. Shaman]

All this timed with the N. Korea attack. This is terrible news and it will hurt us badly. You see, they are doing what they can to protect their own currency and economies and Obama is doing nothing to protect ours and lets not loose sight of the central role that the criminal enterprise known as the FED has played in this.

Yeah.....how dare they suspend all confidence in our economic-maturity....after the privilege$ extended (by the criminal enterprise known as BUSHCO) left us with a bit of a hangover.

​

 

[Mr. Shaman]

China and Russia don't intend to get dragged down the same shit hole Obama is taking the US.

Yeah....I guess we need a more pro-bu$ine$$ Presidenthttp://www.msnbc.msn.com/id/3036677/#40345852, right?????

​

 

[007]

Get rid of NAFTA. Slap an import tax on all Asian imports. We'll have China and Russia over the barrel.

 

[hipeter924]

China, Russia to drop dollar in bilateral trade - MarketWatch

Nov. 23, 2010, 11:38 p.m. EST
China, Russia to drop dollar in bilateral trade

By Chris Oliver

HONG KONG (MarketWatch) -- China and Russia will stop using the U.S. dollar to settle bilateral trade and instead use the ruble or the yuan, though the move is not meant to signal a challenge to the dollar, according to reports Wednesday. China's Premier Wen Jiabao and Russian President Vladamir Putin made reference to the new currency trade pact late Tuesday, following meetings in St. Petersburg that also saw the signing of bilateral trade and energy-cooperation agreements, according to a report in the state-run China Daily. "About trade settlement, we have decided to use our own currencies," Putin told reporters, according to the report. Earlier this week, China added the ruble to the list of currencies that can be traded against the yuan on its domestic exchange.

This is an interesting move, considering the state and stability of the ruble. I wonder what the bigger picture looks like? China and Russia have never exactly been bosom buddies, the Russians have a long memory.

The Russians are the worst and if you speak against them then they poison you, especially with dissenters, a step that at least China is humane enough to never take. The whole try and improve relations with Moscow has been a disaster, it's time to cut and run and side with China against Russia as America did in the cold war, after all Russia has done nothing accept support Iran and threaten the US over resource rights in the Arctic (which Russia greedily wants all for itself, in violation of current international borders).

 

[Mr. Shaman]

This means nothing. Why do you think we're in the ME people? We could destroy China economically in a month.

I'd always assumed that's what Lil' Dumbya attempted (tryin' to re-live the Bush Family's glory-year$)....take-out more loans (from The Bank O' Bejing) than you could possibly re-pay....then, simply walk-AWAY!!!

Yeah....who would've guessed he'd screw-up, one-MORE-time?

 

[Mr. Shaman]

All this timed with the N. Korea attack. This is terrible news and it will hurt us badly. You see, they are doing what they can to protect their own currency and economies and Obama is doing nothing to protect ours and lets not loose sight of the central role that the criminal enterprise known as the FED has played in this.

China, Russia quit dollar on bilateral trade - People's Daily Online
China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday in St. Petersburg.

Oh well, vote republicans into control and right away countries start remembering the sorrid republican past. Republicans will drag the world down if we let them. No wonder all the corporations left America under Bush.

Yeah.....Republicans are really making every effort to convince businesses to come-back-home.

​

 

[editec]

i wonder the reaction when arab countries drop the dollar as the international trade currency

Well...I can tell what happened when the House of Saud announced that they were going to convert 10% of their petrodollars into gold.

The price of gold skyrocketed from about $130 per oz to $800+per oz in a few months.

This happened around 78 or 79 or so, if memory serves.

Now what happens if many countries decide to dump their petrodollars?

Bear in mind that there are far more petrodollars offshore than there are dollars in US circulation.

 

[Mr. Shaman]

russians do have long memories....i am sure they have not forgiven the us for their role in the defeat of the russians by afghans...and many other things....hell putin is about as friggin crazy as they come. the chinese have resource problems that are hard to overcome, their energies devoted to feeding their country.

You got any Van Winkles in your family-tree????????

[ame]http://www.youtube.com/watch?v=8e4xtIJAFn0[/ame]​

 

[editec]

all this timed with the n. Korea attack. This is terrible news and it will hurt us badly. You see, they are doing what they can to protect their own currency and economies and obama is doing nothing to protect ours and lets not loose sight of the central role that the criminal enterprise known as the fed has played in this.

china, russia quit dollar on bilateral trade - people's daily online
china and russia have decided to renounce the us dollar and resort to using their own currencies for bilateral trade, premier wen jiabao and his russian counterpart vladimir putin announced late on tuesday in st. Petersburg.

oh well, vote republicans into control and right away countries start remembering the sorrid republican past. republicans will drag the world down if we let them. No wonder all the corporations left america under bush.

yeah.....republicans are really making every effort to convince businesses to come-back-home.​

​

bingo!

washington, dc, united states (ahn) - legislation ending tax breaks for u.s. Companies that outsource and providing tax incentives to those that move jobs back home failed in the senate on tuesday.

democrats were short of the 60 votes required to overcome a republican filibuster of the measure, creating american jobs and ending offshoring act. By a vote of 53-45, the gop blocked the bill with the help of three democrats and sen. Joe lieberman (i-ct)


read more: Bill Ending Tax Breaks For Offshore Jobs Fails In Senate | AHN ​

​

 

[goldcatt]

China, Russia to drop dollar in bilateral trade - MarketWatch

This is an interesting move, considering the state and stability of the ruble. I wonder what the bigger picture looks like? China and Russia have never exactly been bosom buddies, the Russians have a long memory.

The Russians are the worst and if you speak against them then they poison you, especially with dissenters, a step that at least China is humane enough to never take. The whole try and improve relations with Moscow has been a disaster, it's time to cut and run and side with China against Russia as America did in the cold war, after all Russia has done nothing accept support Iran and threaten the US over resource rights in the Arctic (which Russia greedily wants all for itself, in violation of current international borders).

There are actually more than 2 nations involved in the Arctic disputes. Canada and Denmark have made claims as well.

I'm thinking about 2 things here: China's push to corner the global market in REMs and other mining enterprises, and their history of interest in Siberian resources. I'm betting this is part of a larger trade deal involving Chinese access to Siberia. They've had prospectors there to some degree for some time.

 

[uscitizen]

The fall of the USA begins.
However only partisan tools will place the blame on Obama.
We have worked long and hard for this as a country.

 

[rightwinger]

All this timed with the N. Korea attack. This is terrible news and it will hurt us badly. You see, they are doing what they can to protect their own currency and economies and Obama is doing nothing to protect ours and lets not loose sight of the central role that the criminal enterprise known as the FED has played in this.

China, Russia quit dollar on bilateral trade - People's Daily Online
China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday in St. Petersburg.

Taking sides with China and Russia over the USA??

Commie loving traitor

 

[mal]

Who uses Rubles or Yuan in international transactions?

The Sky's not Falling?...

Now back to Holiday Mode!



peace...

 

[Misty]

Just like north korea, Russia and china want an American hand out to play nice with the world. I say screw them.

 

[loosecannon]

i wonder the reaction when arab countries drop the dollar as the international trade currency

Well...I can tell what happened when the House of Saud announced that they were going to convert 10% of their petrodollars into gold.

The price of gold skyrocketed from about $130 per oz to $800+per oz in a few months.

This happened around 78 or 79 or so, if memory serves.

Now what happens if many countries decide to dump their petrodollars?

Bear in mind that there are far more petrodollars offshore than there are dollars in US circulation.

This will be a gradual transition away from petro dollars until the brokerage houses themselves stop denominating transactions in dollars. Mainly ICE https://www.theice.com/about.jhtml

Bilateral agreements have been increasing for at least 3 years but they don't rock the boat and may never reach a tipping point.

But if they do finally become the dominant commodity exchange mechanism commodities will be fully politicized, and that bodes very poorly for globalization and free trade. As well as USEmpire inc.

 

[Baruch Menachem]

It is a real problem, as strollingbones noted. This time it is just theater. But OEC has been talking for years of replacing pricing in dollars with pricing in Euros. Even before there was a Euro, OPEC was making noises about replacing the dollar with the Mark.

The british pound was the reserve currency till 1946. And when it was no longer that anymore, and the chickens came home to roost on the UK economy, it caused huge amounts of angst to the brits.

Most US currency and money is held abroad. We don't want to think of when it starts to come back and has to be replaced. It will not be a fun time. We really should be a bit more responsible.

 

[loosecannon]

absolutely. The world is awash in commodity exchange dollars. As long as everybody needs them to buy commodities demand for the dollar will be strong. But if the dollar ever loses that advantage we will see hyperinflation like never before.

Which is why China is well positioned. If the dollar loses commodity exchange status the yuan could double in value while the dollar loses 2/3 of it's value within a few months. Catapulting China way past the US in world econ clout.