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Pakistan is ditching the dollar — 24 hours after Trump denounced the country

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posted on Jan, 4 2018 @ 07:08 AM
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a reply to: antiantonym

Its not just pakistan. Lots of countries have done it and more will. The petrodollar is failing and that is a good thing as it allows people to move to more renewable systems instead of relying on oil.

Its not so good for the people of America though. It weakens the dollar over time. Why do you think the USA does not try and attempt climate change like the rest of the world. So im some ways I am glad this is happening.








posted on Jan, 4 2018 @ 08:19 AM
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a reply to: purplemer

The writing is on the wall. Isn't it amazing how places like this used to be so pro-Ron Paul back before Trump? Isn't it amazing that Ron Paul is basically completely ignored around places like this today?

That's because Ron Paul's opinions are mostly antithetical to Trump's policies and opinions.



www.youtube.com...



posted on Jan, 4 2018 @ 08:27 AM
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The only thing that stuck out to me about that piece was the use of "south asian" referring to pakistan.

I thought they normally referred to that area as the middle east?

I know europe started using the asian reference a while back, is that starting to catch on? Am I just mis-remembering things?



posted on Jan, 4 2018 @ 09:04 AM
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i see this move as a sign of things to come. More and more countries will start to turn away from the dollar.



posted on Jan, 4 2018 @ 10:54 AM
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originally posted by: antiantonym

Pakistan's central bank announced that it will be replacing the dollar with the yuan for bilateral trade and investment with Beijing.
www.cnbc.com...


I remember when Trump began his term as POTUS. All of his supporters seemed to think his tweets wouldn't be taken seriously. I tried to warn people that Trump's tweets would be taken seriously, and they would cause serious problems at some point.

That moment has arrived. A large country will no longer use the dollar in trade over a tweet. I feel vindicated.


ERM, your link doesn't say that Pakistan will no longer use the dollar in trade..? Seems to be either a comprehension problem with the author or a deliberately misleading article. I'll let you decide which.


What it does mean is China doesn't have to deplete it's own reserve of a hard currency (the dollar) when investing billions in Pakistan, and Pakistan can repatriate the yuan back to China through trade. It's good news for China who gets to keep their hard currency, and it makes their exports to Pakistani markets cheaper and more attractive. It's good news for the Pakis because China is more willing to throw their money into joint-development knowing the yuan is coming back via trade, and buying Chinese imports with yuan is cheaper than completing trade with a dollar. Win-win.

Doesn't really affect the dollar at all, nor does the trade with other nations start being completed with yuan. I'll bet you a dollar (or yuan) that it has nothing to do with a tweet.



posted on Jan, 4 2018 @ 06:32 PM
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originally posted by: antiantonym

originally posted by: badw0lf
That's not the OP's agenda. He probably entertained the notion, but that inner whirlwind that makes him all giddy caused him to go "Awww haha Yeaaahh!!! Take that Trump!" and thread #982340958 for today is made.


I mention Trump's strengths and good points when I notice them. I'm not going to speculate on his behalf though.


originally posted by: Zanti Misfit
a reply to: antiantonym

Pakistan is ditching the dollar , who Other than You Gives a Fuuuuck ?



Yeah , Well , Pakistan , if Not Nice , Will.........





Give it time.

Post Trump tweet, Turkey expresses solidarity with Pakistan



posted on Jan, 4 2018 @ 07:18 PM
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a reply to: MisterSpock

No, they are South Asian. Indian's, Pakistanis are referred to as South Asians.



posted on Jan, 4 2018 @ 07:31 PM
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a reply to: antiantonym

Uh-oh, we alienated the 42nd largest economy in the world! My God, they were our 57th largest trading partner at $5.5 Bil per year!! They represented a $1.3 Bil trade deficit with the USA!!! The USA obligated $78 Billion in aid to Pakistan since 1948, an average of $1.1 Bil per year!!!! Add that up and this move by Pakistan costs the USA a maximum of about $3 Billion per year!!!!!

The US GDP is $18.57 Trillion... we just lost 0.02% of our GDP thanks to this move by Pakistan. OMG, whatever will we do, woe is us, let's go rend out garments and fling dirt on our heads.

I'm having a hard time coping with this devastating blow.



posted on Jan, 4 2018 @ 07:33 PM
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a reply to: burdman30ott6

So you're not worried because you consider yourself to big to fail..... Hmmmm.



posted on Jan, 4 2018 @ 07:36 PM
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originally posted by: hopenotfeariswhatweneed
a reply to: burdman30ott6

So you're not worried because you consider yourself to big to fail..... Hmmmm.


To Pakistan? Yes, me alone, in fact. The US as a whole? No concern whatsoever what third world countries decide to do with their economies... the impacts are infinitely negligible.



posted on Jan, 4 2018 @ 07:44 PM
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a reply to: burdman30ott6

What happens when more countries follow suit, at what point do you think it may have a negative impact? I was just postulating a death by a thousand cuts scenario.



posted on Jan, 4 2018 @ 07:55 PM
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a reply to: hopenotfeariswhatweneed

There is a threshold at which countries won't cut their own noses off simply to spite their faces. I've heard the countries following suit argument many times before, but the reality of the situation is that the USA is currently widening the gap between ourselves and China, compared to 2008-2009 when the predictors all moaned that China would overtake us as the world's largest economy. In order to create a model by which this was even feasible, they had to resort to voodoo economics that lean heavily on an imaginary theory of purchasing power parity rather than on actual and factual economic measurements.

Do you really see any of the actual players in the global economy cutting off the US dollar to follow Pakistan? China, the 2nd largest economy, would collapse without the dollar. We heard a lot about a global market basket of currency following the Great Recession, as the world scrambled to battle contagion carried by the dollar... guess what? Almost 10 years later, still no market basket. BRICS is no closer to divesting from the dollar than they were before they even considered the idea.

America is back. Climb on board or get out of the way.



posted on Jan, 4 2018 @ 08:01 PM
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OP is ignorant of actual news. Pakistan relies heavily off China, its their proxy to India. It was only a matter of time, sucks for Pakistan though.
edit on 4-1-2018 by Arnie123 because: Hmmm



posted on Jan, 4 2018 @ 08:03 PM
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originally posted by: Planette
US struck Pakistan with at least 5 drone bombings in the past year alone.. who is terrorizing who. Glad to see PK boycotting tyranny and bull.
Pakistan is a haven for terrorist, you support those that kill Americans? Good for you.



posted on Jan, 4 2018 @ 08:14 PM
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originally posted by: antiantonym

In the bigger picture, I think this is the kind of thing that could lead to Trump's impeachment and removal from office even by Republicans. It won't be the official reason, but the U.S. is essentially a business. Messing with that business too much in a bad way will get you in serious trouble.


Impeached over his tweets..lol seriously? I guess this saves us billions in aid since, you know, they will not take the dollar anymore.



posted on Jan, 4 2018 @ 08:21 PM
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a reply to: burdman30ott6

It only effects transactions between banks in Pakistan and China. It has nothing to do with their other trade.



posted on Jan, 4 2018 @ 08:25 PM
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a reply to: burdman30ott6

I know you believe what you just wrote, however alienating pretty much of the rest of the world will only bring you guys undone, alone and isolated America would be in trouble.



posted on Jan, 4 2018 @ 08:34 PM
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originally posted by: hopenotfeariswhatweneed
a reply to: burdman30ott6

I know you believe what you just wrote, however alienating pretty much of the rest of the world will only bring you guys undone, alone and isolated America would be in trouble.


That's a "trouble" I'd like to experience! We're very self-sufficient. Those who want to sing and hold hands with other countries can move to Canada. It's not that far, and they're welcoming all newcomers right now.



posted on Jan, 4 2018 @ 08:39 PM
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a reply to: hopenotfeariswhatweneed

I'm sure most countries will trip over themselves to destabilize their own currencies by dumping the dollar while losing American aid, products, and access to American markets for their products because the President is tweeting mean things. Or perhaps not.


Even Pakistan isn't doing that. They're simply agreeing to accept the yuan from China instead of a harder currency in trade/aid between them. In return, Pakistan will trade in yuan for their Chinese imports to repatriate most the yuan. The big winner here is China, but because the yuan is not as strong as the dollar, it also lets China invest even more in Pakistan, which is the quid pro quo, I'm sure. It also makes Chinese products cheaper in Pakistan which helps both countries a bit.



posted on Jan, 4 2018 @ 11:53 PM
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a reply to: RadioRobert

There is little point arguing whatever future holds, trump was elected on his promise to make America great again.

I'm not seeing it from where I am, sure the economy looks like its getting better and you guys got some small tax break, however the long term results won't be so great if Trump continues alienating other nations, and if the current trend continues it might bite you in the ass. It's no different to life, the more friends you have the easier life will be.




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