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U.S. Economic Dominance Over: Russia

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posted on Oct, 2 2008 @ 05:17 PM
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U.S. Economic Dominance Over: Russia


www.theaustralian.news.com.au

THE era of US global economic dominance is over and the world now needs a new and "more just" financial system, Russian President Dmitry Medvedev said today.

"The time of domination by one economy and one currency has been consigned to the past once and for all," Mr Medvedev said in an address to a Russian-German development forum, with German Chancellor Angela Merkel at his side.

"We must work together towards building a new and more just financial-economic system in the world based on the principles of multipolarity, supremacy of the law and taking account of mutual interests." The current crisis proved that even with its vast economic resources the United States was not in a position to play the role of "mega-regulator" and that a new system based on collective management was needed, he said.
(visit the link for the full news article)



[edit on 2-10-2008 by DimensionalDetective]




posted on Oct, 2 2008 @ 05:17 PM
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And the financial / currency war of words continues...

While there is no question that our incredibly fiscally irresponsible, spend-happy leaders have gutted much of the financial infrastructure, I don't know that one can completely just brush aside america as a top player just yet. What happens here STILL has a major impact on other economies.

But perhaps that's Medvedev and Putin's point, and they are trying to shift away other nation's to other currencies?

www.theaustralian.news.com.au
(visit the link for the full news article)



posted on Oct, 2 2008 @ 05:42 PM
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Way to many world leaders have been calling for a one world system lately. Hold on to your britches because we are one conflict or one event away from seeing the Anti-Christ make himself known to all.

If the house doesn't pass the bail-out bill then it may be very soon. War is about to break out just because of this economic mess. The Fed and the World Bank crooks will get their money one way or the other.



posted on Oct, 2 2008 @ 05:46 PM
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Now the ones to be getting to the point to be call the economic supremacies are Shanghai, Singapore, Mumbai, Dubai and others are poised to takeover the void left by shrinking U.S. investment firms.

What this countries have in common beside, Dibai, most of them are now becoming wealth builders.

Something that US lost in the last 20 years thanks to globalization and free trade.



posted on Oct, 2 2008 @ 05:50 PM
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The problem here is that the overseas markets are taking an even larger hit than we are here. If the rest of the world's economy was stable outside their ties to the American dollar, he'd be correct. Unfortunately for him, this crisis has gone contageous and has hit virtually every currency unit the world over. It is somewhat amusing watching a man who's own country's stock market had to be shut down twice last week because of double digit percentage losses throwing stones at the US, however. The bottom line is this, the United States lost over a Trillion dollars on Monday and we flinched, but we didn't go down. Can any other market in the world make that claim?

If that same blow had been dealt to Russia, they'd have been crippled instantly. The EU might be able to absorb that huge a hit, but then again you're talking about a consortium of governments, not an individual nation, so it's kind of apples to oranges. China would have at the very least taken a knee after that, as their GDP is less than half of the US's. Russia or Germany? FORGET IT! A one Trillion dollar loss to either of them would have represented almost half their annual GDP. The mere fact that we were hit by a loss that would have crushed any other individual nation and chaos didn't erupt, there were no bodies of investors on the streets after they flung themselves out of windows, and the sun rose the next day with birds chirping and bees buzzing says that Putin & Merkel's opinions are fueled by disdain and jealousy, not by realistic assessments of the situation.



posted on Oct, 2 2008 @ 06:07 PM
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reply to post by burdman30ott6
 





The bottom line is this, the United States lost over a Trillion dollars on Monday and we flinched, but we didn't go down. Can any other market in the world make that claim?


I agree. The US has lots of problems but sometimes we forget how many issues other countries have. The bottom line is our geographical location is one (if not the #1) in the world. Our roots are entrenched in economies/cultures all over the world. It's pretty tough to "topple" the US without screwing over alot of other folks too.

[edit on 2-10-2008 by Scramjet76]



posted on Oct, 2 2008 @ 06:32 PM
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Key words in there "multi polar" anyone who questioned the North American Union better wake up because its coming. It will no longer be east and west it will be the NAU, EU, & AU. Ameros anyone?




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