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India in talks with 10 countries for currency swap pacts

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posted on Nov, 23 2013 @ 01:09 AM
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India is in talks with major trading partners, including Singapore and Japan, as well as oil suppliers like Iraq and Venezuela, to accept payment in rupee for a part of their exports.The assumption is that the rupee is now acceptable de facto as a unit of currency by traders in markets like Singapore and so the barter trade will give it legitimacy.It plans to target oil producing countries such as Venezuela and Iraq, too, for a similar arrangement. But while Iran is a special case, Iraq or Saudi Arabia have problems as they hardly import anything from India.China has also shown keenness to start a yuan-rupee trade while Japan, too, is largely willing to go ahead with such a plan.

India in talks with 10 countries for currency swap pacts


Looks like all the countries are placing their chess pieces together for something .. I wonder how the US will react on this , or am more expecting the US Media to reach on this like they have always done before.

edit on 23-11-2013 by maddy21 because: (no reason given)




posted on Nov, 23 2013 @ 01:17 AM
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reply to post by maddy21
 


More then likely for the revolution in America thats gonna kick off!



posted on Nov, 23 2013 @ 01:31 AM
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reply to post by maddy21
 


Unless the U.S. finally returns to the Gold Standard to Back it's Present Worthless Currency , more and more Countries will Abandon the Dollar for more Stable ones like the Yuan and Rupie when trading in Oil . The Writing is on the Wall , will the U.S. Gov. do the Right Thing ? Hell No , go Figure.........



posted on Nov, 23 2013 @ 01:35 AM
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reply to post by Zanti Misfit
 


If Us returns back to Gold standard , then how do you think the gold to Dollar conversion will be considering the Printing of Dollars going on... Wont going back to Gold standard. lead to Hyper inflation ?

AM a newb when it comes to economy ...



posted on Nov, 23 2013 @ 01:35 AM
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If they pull the lynchpin, the wheel will fall off.

I think every country with an economy knows the consequences of dropping the dollar at once. No one's economy can survive that type of devaluation. It sounds like the world is going to try to wean themselves off the dollar slowly as to avoid any sudden economic catastrophe.

Relegating the dollar to a slow death and eventual obsolescence.



posted on Nov, 23 2013 @ 01:46 AM
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reply to post by maddy21
 


Too Many Dollars are in Circulation due to the Feds QE's . The Only Solution in going back to the Gold Standard is to First get Rid of the Fed , then Have the U.S. Treasury Create a New Currency which would have a Set exchange rate with the Old Dollars . It would not be easy to do that because of Political reasons , but it is Inevitable if the U.S. Gov. Seriously wants to prevent a Total Economic Collapse of our Economy in the Not to Distant Future , no ?



posted on Nov, 23 2013 @ 10:17 AM
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Mon1k3r

Relegating the dollar to a slow death and eventual obsolescence.


Good where it belongs.



posted on Nov, 23 2013 @ 10:25 AM
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crazyewok

Mon1k3r

Relegating the dollar to a slow death and eventual obsolescence.


Good where it belongs.


To be fair, whilst I agree with you, I don't see our Pound Sterling faring much better to be honest.



posted on Nov, 23 2013 @ 10:36 AM
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Unsympathetic
[
To be fair, whilst I agree with you, I don't see our Pound Sterling faring much better to be honest.


why do you think I keep my money offhsore on swis franc



posted on Nov, 23 2013 @ 02:08 PM
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Unfortunately we have leaders who are all a part of the overall plan here as well. Otherwise it would be pretty easy to ignore.

We would pass laws that forbid our companies exploiting third world conditions and labour. Not sure how to address this, but some ideas involve, import taxes that raise the price to domestic. Others include a who's who, being published in the media of those companies that do this and their employees wages and conditions, and the CEO's wages, and admin's, and all the products they are, on a regular basis, and in all the papers at least once a month.

And then, would conduct a new lottery, and even a limited tax, on the banks, 5%, to create not only programs that are needed and a really good medical, but especially small and mid sized business start ups, to replace and provide home grown competition to them. I would actually do away with all taxes, even property tax, and impose a 15% tax on banks, AND, really good lotteries, more winners to draw in more players, and more taxes, and tax huge corporations. Not individuals, but the methods of creating money.

I would declare all the trade agreements null and void for the tribunals over the nation's sovereign rights, and create abundant well paid jobs, profit sharing and home grown solutions with home grown stores and farming, home grown energy and vehicles, altnernative energies and an amped up space program for colonizing and more and more businesses coming out of this.

And banking would be national not international, in its controls. No borrowing at interest for programs.

Price controls over cost of living, homes for all. Construction industry booming.

Alternative fibres used.

Hemp grown commercially for building.

Just so many ways around it that in the end, our pocket of the world, with more nation friendly trade deals, respectful ones, would rock and be the most prosperous and ethical.
edit on 23-11-2013 by Unity_99 because: (no reason given)



posted on Nov, 23 2013 @ 03:39 PM
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reply to post by maddy21
 




I wonder how the US will react on this


Americas leaders are not very smart but they can lift heavy things.

They will free the crap out of them.

Banksters agenda wins every time.

SNAFU.


edit on 23-11-2013 by Sublimecraft because:




posted on Nov, 23 2013 @ 04:39 PM
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Maybe this has something to do with BRICS and their own bank efforts.

Perhaps they want other nations included like Iran ?

They might be positioning for a new currency ?

All against the PetroDollar.




posted on Nov, 23 2013 @ 05:35 PM
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Not sure why people are citing India's move as an indication of US imminent collapse. If anyone bothered to take their binkers, off they would see the Indian rupee has low exchange against the US Dollar. Therefore attempting to duck out and arrange currency swaps with nations in a similar position is logical.

It is not a sign the US is falling to pieces. More a sign that India has a weak currency.

Regards



posted on Nov, 23 2013 @ 07:27 PM
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Zanti Misfit
reply to post by maddy21
 


Unless the U.S. finally returns to the Gold Standard to Back it's Present Worthless Currency , more and more Countries will Abandon the Dollar for more Stable ones like the Yuan and Rupie when trading in Oil . The Writing is on the Wall , will the U.S. Gov. do the Right Thing ? Hell No , go Figure.........


Well that makes no sense at all - neither the rupee nor the renminbi are backed by gold either - indeed the renminbi was backed by (pegged to) the US$ for many years, and is now pegged to a basked of currencies that still includes the US$, and the Reserve Bank of India manages the value of the rupee by actively trading in US$ which means it is effectively linked to the US$ too!!

Do you gold bugs ever actually THINK about what you are saying??
edit on 23-11-2013 by Aloysius the Gaul because: (no reason given)



posted on Nov, 23 2013 @ 10:53 PM
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Zanti Misfit
reply to post by maddy21
 


Unless the U.S. finally returns to the Gold Standard to Back it's Present Worthless Currency , more and more Countries will Abandon the Dollar for more Stable ones like the Yuan and Rupie when trading in Oil . The Writing is on the Wall , will the U.S. Gov. do the Right Thing ? Hell No , go Figure.........


I have a feeling whatever happens will somehow benefit the US or corporations with US interest. Seeing as America has the most military bases in the world and its business elite are connected to nearly every nation (friendly/unfriendly) it seems like even if India or whoever thinks they are winning, they are probably making it worse for themselves.

The markets are far too manipulated for any previous economic/business models to be considered relevant.



posted on Nov, 24 2013 @ 03:28 AM
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reply to post by maddy21
 


It is no big deal. It only eliminates the Fx dealer.

For example a deal with Japan. The price of goods is in Yen. It is converted to USD and then to rupee. Now it will be direct to rupee. So it eliminates two fx transactions.

This has no effect on US dollar.

Swap is preferable for two countries having significant bilateral trade.



posted on Nov, 24 2013 @ 03:30 AM
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US hegemony is via control of natural resources and via guaranteeing the security of other States (Godfather style).

Currency conversion is a mere fx dealer issue.



posted on Nov, 24 2013 @ 03:35 AM
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boncho

Zanti Misfit
reply to post by maddy21
 


Unless the U.S. finally returns to the Gold Standard to Back it's Present Worthless Currency , more and more Countries will Abandon the Dollar for more Stable ones like the Yuan and Rupie when trading in Oil . The Writing is on the Wall , will the U.S. Gov. do the Right Thing ? Hell No , go Figure.........


I have a feeling whatever happens will somehow benefit the US or corporations with US interest. Seeing as America has the most military bases in the world and its business elite are connected to nearly every nation (friendly/unfriendly) it seems like even if India or whoever thinks they are winning, they are probably making it worse for themselves.

The markets are far too manipulated for any previous economic/business models to be considered relevant.


People tend to see a conspiracy in everything. That should not be the case.

Free trade is a cornerstone of modern economy. Conversion of one currency to the other is also part of free trade system.

Now there is a lot of trade between different Asian States. It is natural for them to use their own currencies.



posted on Nov, 24 2013 @ 11:04 AM
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GargIndia

boncho

Zanti Misfit
reply to post by maddy21
 


Unless the U.S. finally returns to the Gold Standard to Back it's Present Worthless Currency , more and more Countries will Abandon the Dollar for more Stable ones like the Yuan and Rupie when trading in Oil . The Writing is on the Wall , will the U.S. Gov. do the Right Thing ? Hell No , go Figure.........


I have a feeling whatever happens will somehow benefit the US or corporations with US interest. Seeing as America has the most military bases in the world and its business elite are connected to nearly every nation (friendly/unfriendly) it seems like even if India or whoever thinks they are winning, they are probably making it worse for themselves.

The markets are far too manipulated for any previous economic/business models to be considered relevant.


People tend to see a conspiracy in everything. That should not be the case.

Free trade is a cornerstone of modern economy. Conversion of one currency to the other is also part of free trade system.

Now there is a lot of trade between different Asian States. It is natural for them to use their own currencies.


Huh, free trade? What free trade? There are economic sanctions on various nations, no go trade zones, manipulated or artificially inflated/deflated currencies (renminbi for one)(US QE for #2), there are subsidies, lobbying, there are loans from IMF, world bank interference which leads to credit default swaps… Umm… let's see…

Oh, and there is that thing with the NSA spying on world powers, leaders, businessmen, but oddly enough they were told not to touch the world bank and IMF. Odd.

So where exactly is the "free" trade and which part of it is free, what's it "free" from? Certainly not interference.



posted on Nov, 24 2013 @ 11:05 AM
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GargIndia
reply to post by maddy21
 


It is no big deal. It only eliminates the Fx dealer.

For example a deal with Japan. The price of goods is in Yen. It is converted to USD and then to rupee. Now it will be direct to rupee. So it eliminates two fx transactions.

This has no effect on US dollar.

Swap is preferable for two countries having significant bilateral trade.


Buying US dollars has no effect on the currency itself? Why did the US want to be a reserve currency for so long?



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