China and Russia Quit Dollar

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posted on Nov, 23 2010 @ 09:11 PM
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St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.


Well well, is the uncertainty in the Dollar showing in the political decisions of the other powerful nations? Sure it's only for bilateral trading, but Russia and China are smart enough to know the dollar is in big trouble and could be making moves to dodge the bullet here.


Wen said at the press conference that the partnership between Beijing and Moscow has "reached an unprecedented level" and pledged the two countries will "never become each other's enemy".


Also interesting to see their allegiance being fluttered publicly at a time where geopolitical events are happening at a faster pace. Today's events in the Korean peninsula for example, had anything ignited from that skirmish, where would Russia come into play?



Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.


english.sina.com...
business.asiaone.com... 3.html
www.china.org.cn...




posted on Nov, 23 2010 @ 09:16 PM
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So im guessing this is going to affect the value of the US dollar even more?


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posted on Nov, 23 2010 @ 09:18 PM
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This is significant, but China can't get completely out of the dollar or they will severely compromise their investments. Right now, America and China are dependent upon one another. China could, if they wanted to, crush America, but that's not very beneficial to them right now. China is dependent upon American capital for investment in their country--which they need for economic growth which pacifies their populace, as well as the incredible market of consumers in the U.S. America is dependent upon China for their ultra-cheap labor force. This, currently, is the most important bilateral relationship of the 21st century, regardless of this news. I'm not trying to negate the impact of this, but it's not the doom and gloom many will likely subscribe to.
edit on 23-11-2010 by MGriff because: (no reason given)



posted on Nov, 23 2010 @ 09:19 PM
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reply to post by FermiFlux
 


Well, the pieces appear to be taking place on the world table.

What move will the U.S. play now?


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posted on Nov, 23 2010 @ 09:22 PM
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Originally posted by RUSSO
reply to post by FermiFlux
 


Well, the pieces appear to be taking place on the world table.

What move will the U.S. play now?



The US has decided that the most prudent move is to Gate Rape its own citizens.



posted on Nov, 23 2010 @ 09:22 PM
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Uh Oh if this is true TS has just HTF I repeat TS has HTF!

Hopefully I am over reacting however this does not bode well. This most likely will crash the dollar depending on how it plays out... Sigh!

China holds most of our debt. if they stop trading in Dollars they have no reason to hold on to them and if they start dumping our bonds we are toast as it will start a run on them and the Federal reserve can't buy them all up....

Somebody talk me down here...



posted on Nov, 23 2010 @ 09:23 PM
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Originally posted by hawkiye
Uh Oh if this is true TS has just HTF I repeat TS has HTF!

Hopefully I am over reacting however this does not bode well. This most likely will crash the dollar depending on how it plays out... Sigh!

China holds most of our debt. if they stop trading in Dollars they have no reason to hold on to them and if they start dumping our bonds we are toast as it will start a run on them and the Federal reserve can't buy them all up....

Somebody talk me down here...


Read my other post...



posted on Nov, 23 2010 @ 09:24 PM
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Of course, now I have to wonder... How big will this be featured in the MSM (if at all). It makes me question now if this isn't part of what the TSA hoopla is about. Get the country so (rightfully) up in arms about what they're doing in the airports so that is where attention is focused. Things that make you go hrmmm.



posted on Nov, 23 2010 @ 09:25 PM
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As soon as the dollar isn't the petro dollar, and the reseve currency, that will be that.
They KNEW this would happen when they set up bretton woods.
It is how they stole the wealth of the world for them selves

courtesy of Mr Poor Dumb Animals
Henry Kiss(a$$)enger.


The chance for a new world order
As the new U.S. administration prepares to take office amid grave financial and international crises, it may seem counterintuitive to argue that the very unsettled nature of the international system generates a unique opportunity for creative diplomacy.
That opportunity involves a seeming contradiction. On one level, the financial collapse represents a major blow to the standing of the United States. While American political judgments have often proved controversial, the American prescription for a world financial order has generally been unchallenged. Now disillusionment with the United States' management of it is widespread.
At the same time, the magnitude of the debacle makes it impossible for the rest of the world to shelter any longer behind American predominance or American failings....


PS this explanes the distractions like n/s korea the plane/missle etc
edit on 23-11-2010 by Danbones because: (no reason given)



posted on Nov, 23 2010 @ 09:27 PM
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reply to post by bigfatfurrytexan
 


How is this possible? How the people let these things happens everyday?

They never hit at once,for real, instead they gradually undermining the people.

When people will learn this stuff and wake up?
edit on 23-11-2010 by RUSSO because: (no reason given)



posted on Nov, 23 2010 @ 09:28 PM
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Originally posted by MGriff
This is significant, but China can't get completely out of the dollar or they will severely compromise their investments. Right now, America and China are dependent upon one another. China could, if they wanted to, crush America, but that's not very beneficial to them right now. China is dependent upon American capital for investment in their country--which they need for economic growth which pacifies their populace, as well as the incredible market of consumers in the U.S. America is dependent upon China for their ultra-cheap labor force. This, currently, is the most important bilateral relationship of the 21st century, regardless of this news. I'm not trying to negate the impact of this, but it's not the doom and gloom many will likely subscribe to.
edit on 23-11-2010 by MGriff because: (no reason given)


I agree however this shows they are looking to replace us. And though they can;t just jump completely out of the dollar without hurting themselves news like this alone could cause a run on all the bonds we have floated around the world.

Also China is not stupid they have seen this coming for at least a decade so maybe they feel they are ready to weather the storm. But other countries are going; uh oh China is bailing time for us to get out while the getting is good! I predict a glut of our bonds on the market yesterday... Sigh. I sincerely hope I am dead wrong cause I am not ready for the crash yet...

Many countries know they have been duped by our ponzi scheme and the only reason we haven't been attacked is cause we dumped all the borrowed monopoly money into our military. Why else would we have troops in 135 countries.... Another sigh!
edit on 23-11-2010 by hawkiye because: (no reason given)



posted on Nov, 23 2010 @ 09:28 PM
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Since they are dumping the dollar in bilateral trades between themselves right now, I wonder if it might make the dollar fall farther because of the unknown factor of not knowing what their next move is.

I agree with the other poster who said that China has to much to lose to dump the dollar completely right now. But, what would they do if they found themselves fighting against America in the Korean Peninsula?



posted on Nov, 23 2010 @ 09:31 PM
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reply to post by hawkiye
 


It's bilateral trade, meaning any trade between the two countries but moves like these could indeed ignite a flight from the dollar if they are consistent in importance.
edit on 23-11-2010 by FermiFlux because: (no reason given)



posted on Nov, 23 2010 @ 09:34 PM
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Russia and China do about 50 billion $ of trade per year. So it's not much... but it's a start.

Thailand talked about dropping the dollar about a week ago... it seems Russia and China moved for it... shouldn't be long now before Thailand and a bunch of other countries do the same.

And this happening the same day or so that North Korea starts a provocation? I'm sure it's a coincidence!



posted on Nov, 23 2010 @ 09:42 PM
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Originally posted by Vitchilo
Russia and China do about 50 billion $ of trade per year. So it's not much... but it's a start.

Thailand talked about dropping the dollar about a week ago... it seems Russia and China moved for it... shouldn't be long now before Thailand and a bunch of other countries do the same.

And this happening the same day or so that North Korea starts a provocation? I'm sure it's a coincidence!


Indeed this is no coincidence, maybe after today's events China realizes it needs to detach itself from the dollar quicker than scheduled. A move like this will only pave the way for the other asian nations to also drop the dollar in bilateral trade and we may see that small trade loss annually add up into a real dent into the dollar.

Not to mention the confidence knock news like this bring to the market....



posted on Nov, 23 2010 @ 09:45 PM
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Wen said at the press conference that the partnership between Beijing and Moscow has "reached an unprecedented level" and pledged the two countries will "never become each other's enemy".


Yeah, we've heard that promise before from a Fascist Dictator named Adolf Hitler
who promised never to invade Russia or Poland. I surely thought Russia had learned
from the past, I guess it will have to learn that lesson all over again. Yummy oil
fields to the west of China and so close too.



posted on Nov, 23 2010 @ 09:45 PM
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edit on 23-11-2010 by algaedyne because: (no reason given)



posted on Nov, 23 2010 @ 09:51 PM
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This is very significant.

The US rose to power by putting energy (oil) to work sooner and in greater quantities than the rest of the world.

So how are they still an economic power when they now import most of their oil? The answer is having the dollar as the world's reserve currency. When the world trades in dollars they have to first buy them from the US.

So not only does the US get a tiny CUT of most international trade transactions, they also get customers for US goods from countries that need to spend their excess US dollars somewhere.

If this becomes a trend, they'll have to go hunting for a new cash cow. Of course - Walmart, Exxon, Disneyland and the rest of the gang all bring in revenue from all over the world ... maybe the USGOV will nationalize all these money streams



posted on Nov, 23 2010 @ 09:57 PM
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Originally posted by Danbones
this explanes the distractions like n/s korea the plane/missle etc

absolutely correct IMO
star for u bro
nothing is as it appears to be
says the CIA.
diversion ploy indeed



posted on Nov, 23 2010 @ 09:58 PM
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S+F We have a winner - this needs to be known by all. We probably will see a blackout in US media about this so hopefully other outlets pick this up.





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