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India in talks with 10 countries for currency swap pacts

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posted on Nov, 24 2013 @ 02:38 PM
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reply to post by Aloysius the Gaul
 


" Do you gold bugs ever actually THINK about what you are saying?? "


If not the Most Precious of Metals to Back a Promisary Note , then what do you Suggest ? A Nations GNP not based on Industrial Production today is Pure Smoke and Mirrors .




posted on Nov, 24 2013 @ 03:30 PM
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reply to post by Zanti Misfit
 


lol - and yet precious metal is not industrial output!!

Actually a currency is only based upon the willingness of people to accept it - even precious metals are only precious because people are willing to treat them as such.

These days fiat currencies are also backed by the willingness of people to accept them as payment - which is itself a product of the country's own industrial production (so people need the currency to purchased those goods and services), and the ability and willingness of the backing authority to back their value by purchasing other fiat currencies against them - which is exactly what India and China do.



posted on Nov, 24 2013 @ 07:23 PM
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Aloysius the Gaul
reply to post by Zanti Misfit
 


lol - and yet precious metal is not industrial output!!

Actually a currency is only based upon the willingness of people to accept it - even precious metals are only precious because people are willing to treat them as such.

These days fiat currencies are also backed by the willingness of people to accept them as payment - which is itself a product of the country's own industrial production (so people need the currency to purchased those goods and services), and the ability and willingness of the backing authority to back their value by purchasing other fiat currencies against them - which is exactly what India and China do.



I think the reason gold nuts want to go back to a standard is the idea that being pegged to a commodity market money will keep from spiralling out of control. Not to say that money wasn't manipulated by faulty reporting of gold in the past, hoarding and a million other problems ad infinitum.

Personally I think the basket currency idea is better, or something tied to world GDP, but then again, cooking books I'm sure would become the quantitative easing.

One world currency? Sign me up.



posted on Nov, 24 2013 @ 07:25 PM
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Zanti Misfit
reply to post by Aloysius the Gaul
 


" Do you gold bugs ever actually THINK about what you are saying?? "


If not the Most Precious of Metals to Back a Promisary Note , then what do you Suggest ? A Nations GNP not based on Industrial Production today is Pure Smoke and Mirrors .


Base a currency tied to human beings. "Want to create more money? Here you go, two porn mags and some frozen eggs ready for in vitro!"



posted on Nov, 24 2013 @ 09:56 PM
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boncho

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?


Foreigners drive up demand for US dollar, more than USA itself wants.

Euro and Yen are also reserve currencies. Chinese yuan is also coming up as reserve currency. 'Reserve' refers to a most stable currency.



posted on Nov, 24 2013 @ 10:01 PM
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boncho

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.



The 'Free Trade' and 'WTO' are very big and strong paradigms of the modern world. May be you missed that.

The international trade now represents very significant part of the GDP of the world; and most goods are made where they can be made efficiently, often very far from their consumers.

Fx trading is commonplace. You can change your native currency for any other currency anytime.

The controls are there, but controls are not as significant as they look.



posted on Nov, 24 2013 @ 10:04 PM
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boncho

Zanti Misfit
reply to post by Aloysius the Gaul
 


" Do you gold bugs ever actually THINK about what you are saying?? "


If not the Most Precious of Metals to Back a Promisary Note , then what do you Suggest ? A Nations GNP not based on Industrial Production today is Pure Smoke and Mirrors .


Base a currency tied to human beings. "Want to create more money? Here you go, two porn mags and some frozen eggs ready for in vitro!"



I think this is a separate topic.

Gold and silver have been currency for a very long time, and can be currency again. But that depends on political will of nations.



posted on Nov, 24 2013 @ 11:10 PM
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reply to post by GargIndia

Fx trading is commonplace. You can change your native currency for any other currency anytime.

The controls are there, but controls are not as significant as they look.

 


I take it you are accounting for personal exchange of currency? World currencies trade at the bank level to the tune of millions, billions and trillions (the last one leverage in loans) and when bought in and out they can completely change how business operates for days or weeks afterward.



posted on Nov, 24 2013 @ 11:11 PM
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GargIndia

boncho

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?


Foreigners drive up demand for US dollar, more than USA itself wants.

Euro and Yen are also reserve currencies. Chinese yuan is also coming up as reserve currency. 'Reserve' refers to a most stable currency.


What the US wants is up for debate. Unless you are privy to information the rest of us don't have access to.


Euro and Yen are also reserve currencies. Chinese yuan is also coming up as reserve currency. 'Reserve' refers to a most stable currency.


Many countries were forced to buy US currency to trade in oil. To me, seems like there good be a benefit to inflating the money supply but keeping the price high with demand since everyone has to trade in it.

By forced, I mean foreign policy made people stuck with the status quo. Deviating from anything the US wants can be bad for a banana black gold republic
edit on 24-11-2013 by boncho because: (no reason given)

edit on 24-11-2013 by boncho because: (no reason given)



posted on Nov, 24 2013 @ 11:36 PM
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Ghaddafi was pushing a gold back dinar for all of Africa & then the CIA Spring hit.


Saving the world economy from Gaddafi



posted on Nov, 25 2013 @ 09:20 AM
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reply to post by boncho
 


The oil can be bought in any hard currency - including GBP and Euro.

China is already paying for oil with Yuan. It depends on the supplier.

The pricing of oil in USD is for trade purposes, not necessarily for payment. For example, Saudi can always accept Pakistani rupee for an oil consignment to Pakistan. What will USA do about it?



posted on Nov, 25 2013 @ 09:23 AM
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BABYBULL24
Ghaddafi was pushing a gold back dinar for all of Africa & then the CIA Spring hit.


Saving the world economy from Gaddafi


Using gold for currency, and using swap are two different things.

Swaps have been used for a long time, and is a normal method in banking system.



posted on Nov, 25 2013 @ 10:37 AM
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GargIndia
reply to post by boncho
 


The oil can be bought in any hard currency - including GBP and Euro.

China is already paying for oil with Yuan. It depends on the supplier.

The pricing of oil in USD is for trade purposes, not necessarily for payment. For example, Saudi can always accept Pakistani rupee for an oil consignment to Pakistan. What will USA do about it?




Uh, you really have no clue right? You can just say that. This is a document from the military:


The danger of a destabilizing market manipulation incident has historically
threatened only those countrieswhose economieswere heavily reliant
on a single commodity or financing instrument. Developed nations with deep
and diverse economies, such as the United States, have seemed above this sort
of manipulation.


strategicstudiesinstitute.army.mil...

This document states that foreign monetary manipulation is below the US, (as in they are protected) but that all other nations are open to these kinds of attacks.

It also mentions how no one in their right mind would try it (yet we have evidence of western nations doing this regularly [read financial memoirs])

It goes on to say that China was the first country to lob a substantial threat with money manipulation. Which could mean a number of things.

My sig for example, outlines how what we hear about China on the news or in the papers, is not really the full story. Whether or not you want to paint it as a "rising power".

Granted, you might think I am hating on the US here, I'm not. I'm simply discussing how the markets are controlled. Which they are. If there were no controls, and free markets, countries with high resource reserves would be able to compound those reserves into better economies and trade which is simply not the case.
edit on 25-11-2013 by boncho because: (no reason given)



posted on Nov, 25 2013 @ 10:45 AM
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GargIndia
reply to post by boncho
 


The oil can be bought in any hard currency - including GBP and Euro.

China is already paying for oil with Yuan. It depends on the supplier.

The pricing of oil in USD is for trade purposes, not necessarily for payment. For example, Saudi can always accept Pakistani rupee for an oil consignment to Pakistan. What will USA do about it?




Can you explain why odious debts are funded with printed dollars and why coming from a reserve currency they have more weight than say, 100 billion Rials?

And when wars, sanctions and threats of war are tied to economic policies is that not manipulation?



posted on Nov, 25 2013 @ 08:10 PM
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reply to post by boncho
 


China buying US debt is a bribe from China.
Japan buying US debt is payment for 'protection services'.

Saudi Arabia and UAE demand payment of oil in USD as part of a deal with USA that requires USA to protect Saudi Arabia and UAE.

It is not all about sanctions. People pay for something as they see value in that goods or service.

China wants to keep the empire in good humour as China saw that as quick way of rising up militarily and economically. Paying bribe is the 'normal' way of doing business in China.

The strength of USD is very much related to military and technological strength of USA and the West. Saudi rial cannot compete with it.

edit on 25-11-2013 by GargIndia because: (no reason given)



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