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Russia and China dumped the US - Petro dollar and Dow Drops

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posted on May, 21 2014 @ 04:23 AM
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This is really great news for everyone!
Hopefully this will be the push people need to finally dump the USD for good!




posted on May, 21 2014 @ 04:27 AM
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But... I don't get it. Why isn't this in the hoax bin yet? I've been reassured plenty of times by the experts that China and Russia aren't really that good of friends and that they are each better friends with U.S. than they are with each other and and, they Need us dammit! Who's gonna import Chinese goods? Who's gonna export goods to Russia? What is going to happen to the US debt held by China when the dollar tanks? They Need us to do good I was told. I was told that here. On ATS. I suppose I'll see them here explaining how this really isn't that big of a deal and everything is still finel...



posted on May, 21 2014 @ 04:31 AM
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mbkennel:

What does it mean, in practice, to be a reserve currency?


You see, there is your problem, you are still thinking the world wants a reserve currency...it doesn't, not any longer. No one currency should dominate over other currencies, but that all currencies compete against each other for buyers. Countries can state terms if you want to buy from them, by having whatever you buy paid for in their currency, which helps to improve that currency's value.

No. The problem for America is that it is going to lose 'global' reserve status on its dollar, which gave America and Americans wealth advantage. The petrodollar will cease to exist as global reserve currency, when other countries begin to pay for their energy needs in the currency of the country they are buying their energy from. This won't kill the dollar, of course it won't, but it will mean America takes a massive hit (and I do mean a 'massive' hit economically!), particularly because of America having a 17 trillion dollar debt which it will have to pay to stay in business. This is where the real danger lies, not being able to afford to stay in business in governmental terms, and this is because of the system America uses to actually stay in governmental business...through the credit worthiness of the petrodollar which will cease when countries around the world stop using it.

In other words and in basic terms...America loses much of its credit worthiness, and if it cannot pay its debts (which it can't) it won't be able to achieve future credit. So Americans will have to do without until they can afford to buy things with cash. Bear in mind, this isn't a currency war being waged by other countries against America, but simple sound business. Why should the world pay for a wealth advantage for America, it doesn't make economic sense.

Now. What Americans have to watch out for is the dumping of the dollar, not just by other countries, but by Americans themselves. The 1% have trillions of dollars locked away in bank accounts around the world, and they may panic sell their dollars in order not to share in the same 'wealth' loss as ordinary Americans. Such a panic sell will really damage America's economy. They won't give a damn about the damage it will cause to the country or the people, they will want to save as much of their personal wealth as possible. The question to ask though is...who will buy the dollar when it is being dumped?



posted on May, 21 2014 @ 04:37 AM
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edit on 5/21/2014 by Phage because: (no reason given)



posted on May, 21 2014 @ 04:38 AM
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And now lets all watch the stocks tumble
rt.com...
​Russia and China seal historic multibillion gas deal




“One side always wants to sell for a higher price, while the other wants to buy for a lower price,” Medvedev said. “I believe that in the long run, the price will be fair and totally comparable to the price of European supplies.”



posted on May, 21 2014 @ 04:40 AM
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a reply to: MessageforAll
No.

"We won't be signing," Mao Zefeng told the FT. "At the moment the import price and the domestic price are inverted. We are already losing money on imported gas, and we can't lose more."

www.usatoday.com...



posted on May, 21 2014 @ 04:40 AM
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a reply to: Phage

Lol I see what you did there
j/k


EDIT : Phage, this was just breaking the deal is done, not sure what you are referring to.
edit on stAmerica/Chicago521uk2014 by MessageforAll because: (no reason given)



posted on May, 21 2014 @ 04:42 AM
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If this is as spectacular and far reaching as people are hoping for then the markets should show signs of it.

Asian has been open all day and Europe's just opening.

indexq.org...

seems like every other day, a non event!

Dow futures are even up!

16374.31 16383.0 UP 46.00
edit on am442318212014-05-21T04:42:42-05:00042014p by Agit8dChop because: (no reason given)



posted on May, 21 2014 @ 04:46 AM
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a reply to: MessageforAll
Two conflicting reports.
I guess we'll have to wait a bit.



posted on May, 21 2014 @ 04:48 AM
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rt.com...



After 10 years of negotiations, Russia's Gazprom and China's CNPC have finally signed a historic gas deal which will provide the world's fastest growing economy with the natural gas it needs to keep pace for the next 30 years.

The memorandum of understanding was signed in the presence of Russian President Vladimir Putin and President of China Xi Jinping on the second day of Putin’s two-day state visit to Shanghai.

No pricing details have been given so far. Gas will be delivered to China via the eastern 'Power of Siberia' pipeline.




You heard it 1st here. The multi-billion gas deal between Russia and China HAS BEEN SIGNED!!! We were told by Gazprom CEO Miller @RT_com
— Alexey Yaroshevsky (@Yaro_RT) May 21, 2014



posted on May, 21 2014 @ 05:02 AM
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originally posted by: Phage
a reply to: MessageforAll
Two conflicting reports.
I guess we'll have to wait a bit.



Here you go, article from your previous source, USA Today.

China and Russia ink $400 billion gas deal



posted on May, 21 2014 @ 05:04 AM
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a reply to: Duby78

However, it was not immediately clear to what extent the spokesman was authorized to speak on behalf of Beijing's position on the deal.
www.usatoday.com...

Oopsy.
I guess the US is doomed then.



edit on 5/21/2014 by Phage because: (no reason given)



posted on May, 21 2014 @ 05:07 AM
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a reply to: Phage




posted on May, 21 2014 @ 05:09 AM
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a reply to: Phage

Nah, that won't really affect the US. At first it might affect the EU, it may sow growing discord among countries and politicians considering the sanctions. And that might lead to some form of silent EU/US rift in the future...



posted on May, 21 2014 @ 05:10 AM
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Phage:

www.usatoday.com...


Thanks for the link, interesting read, highlighting all the opinions of the antagonists. Of course, the media has to soothe and damage control the report, can't have the dollar being panic dumped just yet.

You are quite right to state that China will not want to damage its American investments, but what China is doing is diversifying its investments around the world, something that Russia wants to do, especially due to Western sanctions which are such to impede Russia's diversification.

Both Russia and China are very powerful business considerations, they have the money to invest with each other, but Russia wants to diversify its energy market, ensuring that it no longer needs to rely on Europe as the biggest buyer. The deal will go through, no doubt about that, China has massive energy needs and is simply holding out for an equalization in costs. Russia will accede to China's request to get the deal done, and to lessen the impact of Western sanctions.

The other Bric countries don't have as much investment in America, so they can stop using the dollar to pay for their energy needs right now if they wanted to, but I think what we are seeing is a synchronized business agenda, which is why the dollar has not been dumped just yet, but once this deal between Russia and China goes through...well, it opens up new avenues of investment alternative to the Western markets.

Any weakening of the American dollar, which the dumping of the petrodollar will bring, is and will be very bad news for America in economic terms. Chinese investment in America is only a certain percentage of America's business needs, and even if that percentage is untouched and remains propped up by China, other areas of American business will suffer greatly, but don't expect to read about it in the financial papers or media as they will want to maintain that it is all business as usual to stave off stock share dumpings in panic sells. In the stock market a rumour doesn't have to true or fact to be scary, just the thought of it is enough. This is what America needs to guard against and to lie about.



posted on May, 21 2014 @ 05:46 AM
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originally posted by: lostbook
Well if the Dollar really is about to tank then this might be the perfect time to start using Bitcoin. It's unregulated but I'm not sure if it has any international appeal.


Are you for real? Lmao... Do you think Bitcoin is american? LOL... Its a worldwide open source currency... The chinese loves thier coins too btw... International appeal! Hahahha

EDIT: Besides Bitcoin might not be your best bet, coins like Netcoin (internet, net, netcoin, better name than bitcoin?) are 100's of times cheaper and so a LOT less risky! You may even strike it rich.


edit on 21-5-2014 by Meee32 because: (no reason given)



posted on May, 21 2014 @ 06:04 AM
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originally posted by: Phage
a reply to: Bloomoon


"We won't be signing," Mao Zefeng told the FT. "At the moment the import price and the domestic price are inverted. We are already losing money on imported gas, and we can't lose more.
www.usatoday.com...

So I guess it's not a plan between China and Russia to drive the US into the dirt.


Oh, you would be a brave soul to draw such a conclusion.

It could be that the timing wasn't right and they put a spin on it to play things down a bit. I believe there have been attempts to severely cripple the USA's position within the world. Much of it stems from either incompetent bureaucrats or greedy special interest groups spinning the global economy way out of balance. To create a global power void is to create a problem too expensive to absorb. I believe they want to cripple things enough to where they do not have to absorb the liability of the fallout, but yet subtract the US' leverage for global control.

The question here is how far into the dirt are they seeking to plant the US? Up to the neck or deeper than that? I don't trust them enough to be guessing at the answer.



posted on May, 21 2014 @ 06:11 AM
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a reply to: elysiumfire

Wow, seriously? and you actually think this is going to be good for you...

First of all, it wasn't done by "America"... It has been done by the global international bankers who don't care about any one nation or people, and if you think "the world's problems will be solved once China and/or Russia are in charge" you are more of a fool than you are making out of yourself right now.

You, and your Breton friends alongside anyone who has been living in a western type of society will be dirt poor. It won't be just America...

This battle is not just about "America", but about every nation in the world, and EVERYONE will lose except the rich elites in charge.



posted on May, 21 2014 @ 06:26 AM
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originally posted by: Phage
a reply to: borntowatch
See my edit.

China is doing very good business in the US. Harming that business is not good...business.

It makes no sense.



destroy a nation from within even if it means taking a financial hit. They cant invade and occupy your land with force as your army is too big. But Americans are just stupid enough to spend themselves into debt with chinese goods and eventually owe every thing to the chinese. once they have devalued the dollar they can buy all the land at half the price with not even a shot fired.



posted on May, 21 2014 @ 06:30 AM
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War is no longer conducted through military might.

It is now conducted through the wallet.


I'm of the belief that the next reserve currency will actually be gold and silver, not some independent country's currency.

We now live in a global economy. A new reserve currency must reflect this. Gold and silver are neutral forms of currency around the globe. But before this can be achieved, the USD must first be greatly devalued and deemed unnecessary in order to remove its gold pricing manipulation.

This China/Russia deal is a temporary solution to a far more ambitious order-of-business plan.
edit on 21-5-2014 by CranialSponge because: (no reason given)




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