It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

China to bypass US Dollar and start direct currency trading with EURO

page: 1
18
<<   2 >>

log in

join
share:

posted on Sep, 29 2014 @ 11:28 AM
link   

www.channelnewsasia.com...

SHANGHAI: China will begin direct trading between its yuan currency and the euro on Tuesday (Sep 30), the national foreign exchange market's operator said, as Beijing seeks to broaden the unit's global usage.

The China Foreign Exchange Trade System already offers a platform for yuan-euro transactions but direct trading means the US dollar will not be used as an intermediary currency to calculate rates, according to a statement released on Monday.

Direct trading brings together the RMB with the world's second-most actively traded currency and is a significant step in (the) RMB's globalisation," said Ryan Song, head of markets for China at British bank HSBC, which is acting as a market maker for the new pair.

"The trade and investment ties between China and the European Union, as two of the world's major economies, can be further strengthened through the greater convenience of direct trading in this pair," he said in an HSBC statement.


Looks like Dollars days are numbered and even Europe seems to be getting the glimpse of this . It seems saving the dollar might be the prime reason for the start of world war 3 , Ukraine could very well be the excuse..




posted on Sep, 29 2014 @ 11:34 AM
link   
With something of this magnitude, I wonder who makes these decisions?

They must have this figured out to the letter.

If the U.S. is so powerful, why "allow" this?

Unless it doesn't matter at all.



posted on Sep, 29 2014 @ 11:38 AM
link   
a reply to: maddy21

If the Dollar goes US goes, and EU will also go because of all the exposure.

I have no idea about China or other countries, but it will be felt for sure big time in the rest of the world too.



posted on Sep, 29 2014 @ 11:57 AM
link   
This action, as it involves the Euro, and by extension, the EuroZone...I would suspect that the US has already given its blessing.

I don't see this as being a major threat to the US Dollar, as I'm sure many of the Top Economic Minds have probably figured out that more money can be made faster (especially High Frequency Trading, and FOREX), without having to convert to and from the USD constantly.

The USD will still be used to set the Prices of Commodities, and that will allow the continuance of the King Dollar.
edit on 9/29/2014 by Dustofenese because: added something for clarity



posted on Sep, 29 2014 @ 11:59 AM
link   
Turns out there wasn't weapons of mass destruction in China... but there could have been. Anyway, we've liberated the people and as consequence we've secured the USD standard.



posted on Sep, 29 2014 @ 12:01 PM
link   
Mark my words, China will slowly start to become a more prominent enemy of the US.

"We have to support the protests in Hong Kong!"

"China is going to annex helpless countries, we have to help!"

Anything to get our US Dollar back in business over there, or make them hurt for ditching us.

Just watch.

Feels like I saw this happen recently with Russia and their talks of dumping the US Dollar...
edit on 29-9-2014 by gatorboi117 because: (no reason given)



posted on Sep, 29 2014 @ 12:30 PM
link   
I guess that reality based in belief of something worthless has been crushed. Oh well, guess that is the new reality. If nobody wants our money it doesn't even make good toilet paper since it is all electronic nowadays.

How do they account for money nowadays when they don't account for the making of money anymore. It is all electronic and they can easily hide corruptness in electronic currency, making it look like our money is worth more. Now, when you have to physically make dollars out of paper, it leaves a good paper trail. Our government could be introducing way more money into the economy than they say they are. Computer programers can easily make this happen.

Deceit does run this world.



posted on Sep, 29 2014 @ 12:31 PM
link   
a reply to: maddy21

Seems the timing of mass protests in Honk Kong
is not just coincidence after all!

The games afoot!



posted on Sep, 29 2014 @ 12:36 PM
link   
a reply to: gatorboi117
American bully boy tactics , the world has grown tired of your governmental strong arm attitude .

we can not play with you unless we agree to play by your rules

ok we will bring our own ball to the match and you can watch from the side lines .



posted on Sep, 29 2014 @ 12:41 PM
link   
a reply to: maddy21

Its all paper anyway, does not matter. China now in the picture, ECB must invest heavily on new printers.



posted on Sep, 29 2014 @ 12:58 PM
link   
House of cards, my friends. If the US goes down, bet on many other nations to follow... This global economy is all interconnected and it's really dependent on one another. I pray that we don't see any collapses anywhere...



posted on Sep, 29 2014 @ 01:01 PM
link   
Somehow I don't see China as the kind that would commit that sort of suicide.

If you tank the dollar who's going to buy all your cheap products?



posted on Sep, 29 2014 @ 01:14 PM
link   
Hong Kong was a British colony for a long time before hand over in 1997

when a communist government comes in and tells them they cannot vote or elect leaders to represent them anymore then yes it is DOOMED to fail

this has been a long time coming

Hong Kong sadly will burn, as China steps in with its military to kill of the opposition, sanctions will cripple china as they're in Russia

A government serves the people never the other way around

History suggests China will lose this one


edit on 29-9-2014 by TritonTaranis because: (no reason given)



posted on Sep, 29 2014 @ 03:10 PM
link   
When you cross what the US tells you to do (since they are like the henchmen for their UK cousins anyway) there is hell to pay.

Expect more banks to have Cyprus like issues. That didn't hurt the people of Cyprus. It hurt the PEOPLE OF RUSSIA who did a lot of business via their banking system.

Expect proxy wars and America supporting and creating bad guys to force your hand and do as they tell you to do.

There will be no more Icelands.



posted on Sep, 29 2014 @ 03:38 PM
link   

originally posted by: gatorboi117

Mark my words, China will slowly start to become a more prominent enemy of the US.



The US and China aren't enemies.

The US is an Empire ... and as an Empire, it does NOT promote liberty, justice or democracy. That would counter it's own emprical status.

Even a child, should understand that.



posted on Sep, 29 2014 @ 03:55 PM
link   
Since China doesn't want US dollars does that mean the US doesn't have to buy anything from them. Maybe the manufacturing jobs will come back to the US.



posted on Sep, 29 2014 @ 04:05 PM
link   

originally posted by: grey580
Somehow I don't see China as the kind that would commit that sort of suicide.

If you tank the dollar who's going to buy all your cheap products?


Doesn't matter, they have assets and surpluses, and we have debt and more debt! Checkmate!



posted on Sep, 29 2014 @ 04:28 PM
link   

originally posted by: irgust
Since China doesn't want US dollars does that mean the US doesn't have to buy anything from them. Maybe the manufacturing jobs will come back to the US.


China loves US dollars. This has nothing to do with that. China is simply trying to get its currency at a level that being the second largest economy deserves. However, it is more PR than anything. It is more expensive to maintain tons of currency exchanges that just use the dollar however, far large economies that does not look so good publicly so they pick some places to do more direct trade. China would like to see it currency as a reserve currency but, that would mean it would lose control of its value which is something it keeps from the outside to begin with. So in the end some this means pretty much the same thing it meant when they did it with Japan in 2012, nothing.



posted on Sep, 30 2014 @ 01:31 AM
link   
Everything is so obvious.
Now I know what you did last summer, err... Hong Kong.

The present demo in hk is related. A bit too late to keep up the charade. Wait for the almighty dollar to take a tumble.

China is not Russia and try sanctioning them you might not get your toilet paper supply. Sorry, I am mistaken. You still got a supply of dollar bills as the toilet paper.



posted on Sep, 30 2014 @ 01:49 AM
link   
If this is so bad for the United States, then why did the dollar close at its strongest point in many years today? Also, if China is holding one plus trillion, why would they want to tank the value of those dollars?
edit on 9/30/2014 by georgezip because: spelleeeng




top topics



 
18
<<   2 >>

log in

join