Et tu, Britain? United Kingdom to join China in the anti-dollar alliance

The Chinese International Payment System... The demise of the dollar or propaganda?

Right now, the United States dominates the global financial system.

But after years of endless wars, spying, debt, money printing, bailouts, and insane regulations, the rest of the world has had enough. And they’re looking for an alternative.

China is coming up with an answer.

The soon-to-be-live Chinese International Payment System (CIPS) will provide a way for banks to transfer funds to one another without having to use the US banking system… or the US dollar.

China is also the ringleader behind both the BRICS development bank (called the New Development Bank, or NDB) as well as the Asia Infrastructure Investment Bank (AIIB).

Both of these are multilateral development banks that aim to end the dominance of the western-controlled World Bank and IMF.

source

a reply to: and14263

This cannot be good news for the West.

At first China economically allies itself with most of Asia through the SCO:



Then it become #1 economical power:

www.marketwatch.com...

And now it prepares itself to maroon the US.

"And under the pretence of peace, the Antichrist shall conquer the World"...

S&F for the find mate

a reply to: and14263

Meh I could care less America could very well go isolationist and sustain its self.

originally posted by: TechniXcality
a reply to: and14263

Meh I could care less America could very well go isolationist and sustain its self.

Oh please do it.
You get your country back, we get get rid of the scum behind the current U.S.economic hegemony.
Win-win situation in my book.

I think people are reading too much into the establishment of an infrastructure bank. Too many people with a poor understanding of global economics reciting the mantra "the end of the West/USA is nigh".

a reply to: and14263

I think talking about a "anti-dollar alliance" is a bit theatrical and exaggerated.

Some nations are just preparing for a multi-currency reserve system, which is just a reasonable and necessary precaution.

If true, it is only sensible for the Brits to check all options on the table.

originally posted by: ColCurious
You get your country back, we get get rid of the scum behind the current U.S.economic hegemony.
Win-win situation in my book.

Not in the long term.

Hypothetical scenario: After providing the "solution", the Chinese will most probably propose its "help" to the people to get rid of the American "corrupted bankers". To which the American population will most probably agree. Then China will ask for just a little favour in return: control over US politicies, since economand policies goes hand in hand. The people will be dependent on China, which means they won't afford to refuse.

Once that happens, you can kiss your Constitution goodbye.

a reply to: ColCurious
Where abouts it Germany you at m8 ? You know alot of the German economy relys on our precence . I was over in schweinfurt beautiful country you have there. I did however feel like an occupying force. After have relations with a college woman who was Bavarian named Kathy I realized that we were like the roman empire . However I also realized protecting the west interests were of highest order and that we had sacraficed moral compass for strategy.

a reply to: swanne

Since when has bowing to the demands of a superior force ever been an American characteristic or value? Isolation would occurred before Chinese over lords I can promise you that.

a reply to: TechniXcality

annoying arrogance!

Of course once China wipes out the US dollar they are going to be the first to lose their money which is invested in American markets. I tend to think China wants a bigger slice of the pie, but doesn't really have any intention of hurting the US in the process. It seems that Americans are always paranoid of the "evil Asians".

a reply to: voyger2

In what way am I being arrogant? Please explain

originally posted by: TechniXcality
You know alot of the German economy relys on our precence.

I'm not sure if you're talking about the economic value your stationed personel here constitute for the communities around U.S./NATO bases, or if you're talking about defence capability of Germany in a strict military sense.
Believe me, we can do without both.

a reply to: ColCurious

Agreed. But withstanding a huge economy is set around our bases and leaving in entirety would hurt said micro economy's. But I hear a withdrawl is continuing to happen and I fully support it. But its a shame because Americans need more exposure to Europe and I treasure my experience.

a reply to: and14263

Pure garbage. It would wipe out the value of the T-Bills they hold AND make the purchasing power for their manufactured goods worthless. In an economy based on double digit growth to sustain itself, killing the USD wipes out every IMF backed currency, including the Euro....

I have no idea why this smoke-screen, but it is one.....

a reply to: swanne

You can make the same argument for US:

"And under the pretence of peace, the Antichrist shall conquer the World"

Operation Iraqi Freedom

a reply to: TechniXcality

And you're welcome to visit here.

I have no problem with Americans at all (your Government is a different story). In fact, all the guys from the U.S. I've met and worked with were excellent people.

originally posted by: TechniXcality
I was over in schweinfurt beautiful country you have there.

I've heard only good things about Dallas too, and that Texas and Germany share some similarities. If I ever travel to the U.S., Texas is definitely on top of my list to visist.

This is kind of nothing. In fact it is just giving China the ability that most economic powers have. Suprised it took this long. Do you know what county has the second biggest interest in a strong US dollar after the US? China. A strong dollar is vital for trade and 2/3rds of China's 3.3 trillion cash reserves are in US dollar bonds. China lost 20 billion in 2003 because of a drop in the value of the dollar. China wants to be able to trade with greater ease, right now it is a real pain for them. However, China also needs a strong dollar as it is the back bone of its economy.

a reply to: and14263

Not only is America our child in a sense but also Her children, young men lay down there lives for our freedom with immense loss of life especially in the daylight bombing raids of the second world war.
Yet today we find a group of money men who are definitely not Pro British governing our nation and Sh?*ing all over our best friend, yes there have been times in the past when there was a wedge between us but that was never insurmountable.
Is it right that today we follow Germany like a dog and forget the price paid for our freedom, is it right that right wing mercenary scum run our nation having bought into and then hijacked the political establishment making a mockery of true democracy (though we do not have a democracy we have a parliamentary monarchy).
I am wroth with them enough but to betray our American cousin's is below the belt and utterly disgusting.

I think this is quite a bit exaggerated, since countries already hold their wealth in many different forms. However, out of boredom, I'll play along in regards to the "dollar-doom" angle.

If the UK was going to join an "anti-dollar alliance", it wouldn't be foul anyway. It would actually be a case of "turn about is fair play". Yes, the US & UK have a much hyped special relationship, however, people tend to forget that the British Pound was the world's dominant reserve currency until the 1944 Bretton Woods meetings during WWII. There, the US made a power play & forced the usage of the USD as the new world's reserve currency, in order for the Allied nations to keep receiving US goods & services during the war. The IMF & World Bank were then formed & the Allies had to trade gold in exchange for more USD. It was a brilliant or treacherous power play (depending on your perspective), and you can bet the UK's central bankers haven't forgotten it.

That said, I still think we're 5-40 years away from China's Renmibi (sp?) becoming the dominant reserve currency. In fact, I think the only reason the USD is still dominant is because of our massive military might, and that our global bases are also meant to ensure the continued usage of the petrodollar.