posted on Jul, 31 2009 @ 08:13 AM
i'm just wondering since this crisis start we have many people making prediction about the fall of the USA, and i have the feeling that we are
living in two diffrent world, the internet world where everybody can read many things about that crisis, and the MSN who talk about it but like we are
not anymore in a crisis and specialy in europe.
and It's official, the U.S. dollar is the currency of reference on tourist sites in India. Last week, at a press conference, Minister of Tourism of
India has confirmed that "given the weakness of that currency, it will no longer be accepted at the sites of state tourism.
End of March, China had caused a sensation by proposing to replace the dollar as international currency, a basket of currencies managed by the IMF. In
the short term, but unrealistic in the longer term, it does not require that and no disadvantages, including the United States, did venture to predict
that she will never see the day.
But China persist and sign. Discreetly. It has just announced that trade between the five cities (including Shanghai) would be in yuan, yet
non-convertible currency. Specifically, the Chinese central bank lending rises cross with its counterparts in other countries to enable local
importers to pay in yuan for goods manufactured in China. So exit the dollar, although at the moment, neither the date nor the modalities of this
operation and although China has not referred to his proposals before G20. No matter publicly humiliate the American partner. Just put pressure.
Brazil would be interested? From April 3 (the day after the G20 therefore), Lula has revealed that he had proposed the day before President Hu Jintao
that trade between the two countries takes place in local currencies rather than in the greenback. These are not empty words: the subject will be on
the agenda of his visit to Beijing on May 19
This is certainly not the end of the hegemony of the dollar but, clearly, emerging countries (we know that Russia supports the idea of China) .