Russia and China dumped the US - Petro dollar and Dow Drops

Sorry for the rushed thread.I am heading out the front door.Don't have time to summarize.I,would only be quoting the article anyway.I will try and return later with some other links.To be honest I have another thread I would like to start on something even larger and more pressing than this.But I will try and add more to this plus more links and background to what I have started.Please bare with me until, I can return. Link below

www.zerohedge.com...

Well it's been grand America.

Better go buy a Chinese or Russian Dictionary.

ok..

this is seriously .. not even cool .. I'm very concerned ...

you really need to think about the ramifications...!!!!!!

a reply to: 13th Zodiac

Slowly - but surely - the USD's hegemony is being chipped away whether by foreign policy faux pas, crossed red-lines, or economic fragility. However, on Day 1 of Vladimir Putin's trip to China it is clear that the two nations are as close as ever. VTB - among Russia's largest banks - has signed a deal with Bank of China to pay each other in domestic currencies, bypassing the need for US Dollars for "investment banking, inter-bank lending, trade finance and capital-markets transactions." Kirill Dmitriyev the head of Russia’s Direct Investment Fund notes, "together it’ll be possible to discuss investment in various projects much more efficiently and clearly," as Russia's pivot to Asia continues to gather steam.



As RT reports, Day 1 for Putin is going well...

VTB, Russia’s second biggest lender, has signed a deal with Bank of China, which includes an agreement to pay each other in domestic currencies.



“Under the agreement, the banks plan to develop their partnership in a number of areas, including cooperation on ruble and renminbi settlements, investment banking, inter-bank lending, trade finance and capital-markets transactions,” says the official VTB statement.



The deal underlines VTB Group’s growing interest in Asian markets and will help grow trade between Russia and China that are already close trading partners, said VTB Bank Management Board Vasily Titov.

from the linked article at Zero hedge .... There have been rumors this was in the works for the last two years; I guess they are finally making their move...

a reply to: 13th Zodiac

Slowly - but surely - the USD's hegemony is being chipped away whether by foreign policy faux pas, crossed red-lines, or economic fragility. However, on Day 1 of Vladimir Putin's trip to China it is clear that the two nations are as close as ever. VTB - among Russia's largest banks - has signed a deal with Bank of China to pay each other in domestic currencies, bypassing the need for US Dollars for "investment banking, inter-bank lending, trade finance and capital-markets transactions." Kirill Dmitriyev the head of Russia’s Direct Investment Fund notes, "together it’ll be possible to discuss investment in various projects much more efficiently and clearly," as Russia's pivot to Asia continues to gather steam.



As RT reports, Day 1 for Putin is going well...

VTB, Russia’s second biggest lender, has signed a deal with Bank of China, which includes an agreement to pay each other in domestic currencies.



“Under the agreement, the banks plan to develop their partnership in a number of areas, including cooperation on ruble and renminbi settlements, investment banking, inter-bank lending, trade finance and capital-markets transactions,” says the official VTB statement.



The deal underlines VTB Group’s growing interest in Asian markets and will help grow trade between Russia and China that are already close trading partners, said VTB Bank Management Board Vasily Titov.

from the linked article at Zero hedge .... There have been rumors this was in the works for the last two years; I guess they are finally making their move...

I remember Nikita Khrushchev saying the USA would sell the rope that will be used to hang us... Maybe more prophetic than many realized... It has been thought in many circles that if trade is done and it is advantageous to both parties the likelihood of an armed conflict diminishes... Probably some truth to that however there is a difference between trade versus selling out one's manufacturing base and companies aiding and abetting a future enemy... The Russians are great in a bar fight where as the Chinese would have opened the bar in a better section of town to begin with... If they join to destroy in a concerted effort America this and that we better hope there are some smarter people in Washington than this current crop. They are not sand people in some far off land; for once these are truly worthy opponents on the world stage.

a reply to: 13th Zodiac

The BRICS have been working for about 5 years now openly to try and unseat the US$ as the worlds reserve currency, with China leading the charge. They have agreed to set up their own version of the IMF, to trade more in their own currencies and conduct business with each other in other currencies beside the dollar.

If they continue the push, it may very well happen. But I don't think it'll happen quietly. Having the worlds reserve currency is a huge chip in the US basket. They'll fight it tooth and nail, figuratively and maybe literally, to stop the BRICS from making that goal a reality.

Wasn't the collapse of the dollar supposed to start summer 2014? This would appear to be right on schedule if it was.

So can I expect every company, who makes goods or services I use, to use this as an excuse to raise prices. Seem everything is a reason to raise prices.

Relax..
Barry will just throw up some more sanctions...That'll teach 'em.

Actually, part of me wants to see this happen. Get rid of the US-Petro Dollar.

Go back to the gold standard for our currency.

I know it would be a nightmare economics wise in our country, but seriously, I'd almost rather go through that nightmare, and we (the US) just keep to ourselves.

We do almost literally have everything we need in this country.

Then everyone can start shaking their fists at Russia or China (or both), and have them blamed for everything that is wrong in the world.

Would be nice to get back to that.

originally posted by: Tucket
Relax..
Barry will just throw up some more sanctions...That'll teach 'em.

Exactly, cry baby Barry is a big part of the reason for this. His foot stomping and name calling isn't going to be working anymore and the rest of the world is now showing that they are tired of all the BS the comes out of the US government.

This could very well lead to a war. I surely hope not but it seems that China is making inroads in many places which further cements its foothold of Global power. This could lead to troubling times.

a reply to: 13th Zodiac

Sounds like Russia and China need a dose of freedom and democracy from the war office of the land of the free.

Rejection of the petro-dollar can't occur until every last drop of Oil is extracted and sold at over-inflated prices to the public.

Just ask America and her interests, they will free the crap out of you as proof of this policy.

Well the good news is that I grew up in S. Korea and Thailand for 7 years, so I got a good dose of Asian culture.....and I love chinese food.......

The bad news is: I don't know how to order Cheese Wonton in chinese.......

a reply to: eriktheawful

With China's PBoC buying up thousands of tons of gold over the years, China owning a lot of US debt, and their growing economic dominance in the USA and elsewhere... You'd probably be better off dumping the dollar and hording yuans now.

Maybe learning basic chinese language now could also be beneficial.

originally posted by: ausername
a reply to: eriktheawful

With China's PBoC buying up thousands of tons of gold over the years, China owning a lot of US debt, and their growing economic dominance in the USA and elsewhere... You'd probably be better off dumping the dollar and hording yuans now.

Maybe learning basic chinese language now could also be beneficial.

Well I guess we shouldn't be surprised. I mean, wasn't it predicted in the movie "Blade Runner" ? Everything was Chinese?

Or was that Japanese? I can't remember.........

Waydago Barry!

This is something I have been talking about in my posts over the last six months, but always being ridiculed, so obviously, I feel some vindication. However, it is not something I predicted, the BRICS agenda has always been an open secret. Why do you think America and Western economies are having a go at Russia via Ukraine?

It has always been about decoupling, or rather de-linking from the dollar, because for many decades, since the end of WW2, the Americans have had their wealth and lifestyle paid for by the rest of the world, while the Americans lived on credit the world paid the bill by propping up the dollar when paying for their energy needs...hence petrodollar.

Well America, you have had a good run at the expense of the rest of the world, but pretty soon, you're going to be paying your own credit bills, but I don't know what with, because you don't have a currency worth #! More and more countries will eventually de-link from the dollar because the world needs it to happen. Your economy is about to inflate and contract in all the wrong ways. Other countries will de-link from the dollar as you undergo this to save their own currencies, even Western allies will de-link eventually, and leave America floundering in a mire of its own making.

Don't worry, you're not going to wake up overnight pink flint (skint), impoverishment is coming to come upon you slowly and savoured by the rest of the world. No doubt you'll be whining and wailing and gnashing your teeth at how unfair it all is, but we'll put that down to conceit shall we. Just think, the rest of the world is awakening to show audacity to what many of you think is your God-given right to be better than anyone else. You won't be for much longer!

Your government has prepared things for when you all start pulling your faces at how poor you may soon become. Apparently, they have built some nice gleaming holiday camps ready for the intake. Just don't know how you're going to pay your 17 trillion dollar debt, that's got me scratching my head.

well since they want to dump th e dollar. call our debt to them null. See how they appreciate that move. And have the IMF declare the debt paid and or null since they slapped them in th e face too.

its the IMF that fronts for the clowns that want to eat the american lunch...
well, the few crumbs that are left

anyone who thinks this is about nationalism just isn't sitting at the real table
its about GLOBAL debt slavery....
perpetrated by global debt slavers...

a reply to: 13th Zodiac

Why do I feel this was the plan all along?