There are now TWO reserve currencies as petro-yuan joins petro-dollar

There are now TWO reserve currencies? So what happened to the others? There were like half a dozen. If they can not get even that much right you might want to take anything that place says with a huge grain of salt.

a reply to: MrSpad

seems everyone in the 'East' has only heard of the Dollar, and they are waiting on it's collapse I guess?

originally posted by: blackcrowe
a reply to: wasaka
...
the sanctions don't harm the us.(the conciquencies will tho) but, they harm europe as well as russia.
its almost as if the us has began a war with europe as well as russia. but the europeans can't see it yet.
...

Well, after WWII, the US did it's very best to ensure that only retards and morons were in European politics. Bought and payed for by the US treasury and what was left of a "thinking" elite in Europe ... went elsewhere.

Think about it, the Europeans think it's a better idea to piss of their neighbour the Russians and be uncle SAM's side. They think after Russia is nuked, the fallout of the "thousand times Chernobyl" is not gonna hurt them, or the US is gonna come and magically conjure them into space ... or something.

I mean ... doh.

a reply to: MrSpad

I think people who have no idea the subject simplify it down to such a level that they only end up with US and China. In fact, the whole inclination is to push the view that the US is on the verge of collapse and the one-party-dictatorship of China is the new deal. What more can I say other than "wishful thinking".

The fact is that the US dollar is (by far) the dominant reserve currency, followed by the Euro, Sterling and the Japanese Yen. That covers well over 85-90% of the landscape. People may cry about the economic woes of some European nations who use the Euro, but the currency remains solid accounting for up to a c. third of trades.

The Chinese Yuan is new on the scene, but trading in it is around 2%, slightly less than the Australian dollar. The Russian scrapes in at c 0.5%. Is the Yuan actually considered a reserve currency, because most commentators don't think it is. Russia and China dealing with each other in a bilateral agreement does not a reserve currency make.

The EU remains the largest economic block by GDP, followed by the US and China. Russia's GDP is the size of Italy, a medium sized European economy.

a reply to: enlightenedservant

maybe the leaders do see it.
the people believe the lie.
hopefully they will waken up soon.
here in the uk. the us has asked if we will house their nukes.
i hope they grow a backbone. stand their ground and tell the us leaders. f ck you.
but cameron is just as much a warmongerer as obama.
cowards hiding behind their position.

a reply to: bjarneorn

idiots and morons.
they're all politicians now.

originally posted by: Klipothian
This will definitely accelerate the move away from the FED fiat. Because of the rapid drop in oil prices over the last 18 months OPEC is no longer recycling profits into US Treasuries. The CHIPS settlement system (China) which goes live this Fall will further impact demand for $ reserves. Look for more saber rattling from the NeoCons and proxy wars spreading.

At what point does the US require pensions and 401(k)s to hold a certain amount of Treasuries to take up the global slack?

You do realize the yuan is 100% fiat as well? In fact, their currency is even worse because it has an exchange rate that China sets with the dollar rather than letting the market decide.

a reply to: Xcathdra

You don't know what you are talking about. OPEC uses US dollar to such an extent that other currencies don't matter.

Something China is going to change in September.

Did you know they have gold too, and their Fort Knox is not tungsten filled.

originally posted by: RubberSky
Something China is going to change in September.

Which September are you talking about? I seem to remember these predictions last year! How is China going to do it? Are they going to join the Euro perhaps?

a reply to: RubberSky

Did you know they have gold too, and their Fort Knox is not tungsten filled.

Have you personally seen their gold reserves? I've heard they were all plundered by the Japanese during the Second World War....

originally posted by: RubberSky
a reply to: Xcathdra

You don't know what you are talking about. OPEC uses US dollar to such an extent that other currencies don't matter.

Something China is going to change in September.

Did you know they have gold too, and their Fort Knox is not tungsten filled.

Didn't bother to read my post then I see.

originally posted by: RubberSky
a reply to: Xcathdra

You don't know what you are talking about. OPEC uses US dollar to such an extent that other currencies don't matter.

Something China is going to change in September.

Did you know they have gold too, and their Fort Knox is not tungsten filled.

The Chinese policy is one of keeping the dollar strong because it has to be for the trade levels they want. Hurting the US dollar would harm China more than even the US. Why do you think they keep almost their entire 3 trillion reserve in US dollars and US bonds?

a reply to: Xcathdra

Hey you get your facts out of here! Only hyperbole and doom mongering allowed!

So to summarize: someone with a blog made up some nonsense after reading about a new trade agreement with Russia and China, and then went searching for woo related evidence to support this preconcieved misconception.

Just another day on the internet.

originally posted by: MrStyx
Just more doom porn for the West. Just look to history and how Germany rose to power. Their economy was in taters too. In fact the worse the economy the better. Debt? Who is coming to collect? Oh please, please crush our economy. Really what would anybody do if the West went full throttle. With disregard to civilian casualties, and politics anything short of nukes would be a one-sided affair. How is Russia's once reliable rocket game as of late. Oh that's right the last two launches either blew up or lost control and disintegrated all the cargo.

Still hoping for saviors in China and Russia? Keep hoping. You'd need more than them to stop the West. One has antiquated armed forces the other is still playing catchup. We invest too much on that front. Neither country has the tech or know how to put a man on the moon, yet they are supposed to put up some sort of fight against a war machine with global positioning and technological advantage. That magical EMP sounds awesome But at least you can still dream right?

It is that very ego and pride that will drive the west down.
You may scream all you want that you are right, but if the whole world thinks you are wrong, then you are wrong.
A lot of human lives have suffered because of western policies. Everything will even out in the end, it is just a matter of time. People in the west have become so blinded by their comfort and luxuries at the expense of other peoples' lives abroad, that they can not even imagine living at a lower standard. Well, the time is coming, and it is coming fast.
There have been many reserve currency wars, and when it fully shifts, things will change drastically.
The laws of economics say any democracy, no matter how powerful, lasts only 200 years .. looks like times up!

a reply to: junglimogli

It is that very ego and pride that will drive the west down.

Just as the arrogance of Vladimir Putin will destroy Russia.

You may scream all you want that you are right, but if the whole world thinks you are wrong, then you are wrong.

And Putin may lie and lie all he wants, but the rest of the world can see him for what he is.

A lot of human lives have suffered because of western policies.

As have human lives in Chechniya, Ossetia, Georgia, Syria, and, now, Ukraine thanks to Putin's policies.

Everything will even out in the end, it is just a matter of time.

One hopes.

People in the west have become so blinded by their comfort and luxuries at the expense of other peoples' lives abroad, that they can not even imagine living at a lower standard. Well, the time is coming, and it is coming fast.

People in the West have done more to help underdeveloped nations out of poverty and provide relief to the victims of natural catastrophes, not to mention provide sanctuary to refugees than Russia, China, and Iran combined.

There have been many reserve currency wars, and when it fully shifts, things will change drastically.

Could you provide an historical example of a "reserve currency war?"

The laws of economics say any democracy, no matter how powerful, lasts only 200 years .. looks like times up!

I did not know there was such an economic law. Could you provide a reference for that and an historical example?

originally posted by: junglimogli

originally posted by: MrStyx
Just more doom porn for the West. Just look to history and how Germany rose to power. Their economy was in taters too. In fact the worse the economy the better. Debt? Who is coming to collect? Oh please, please crush our economy. Really what would anybody do if the West went full throttle. With disregard to civilian casualties, and politics anything short of nukes would be a one-sided affair. How is Russia's once reliable rocket game as of late. Oh that's right the last two launches either blew up or lost control and disintegrated all the cargo.

Still hoping for saviors in China and Russia? Keep hoping. You'd need more than them to stop the West. One has antiquated armed forces the other is still playing catchup. We invest too much on that front. Neither country has the tech or know how to put a man on the moon, yet they are supposed to put up some sort of fight against a war machine with global positioning and technological advantage. That magical EMP sounds awesome But at least you can still dream right?

It is that very ego and pride that will drive the west down.
You may scream all you want that you are right, but if the whole world thinks you are wrong, then you are wrong.
A lot of human lives have suffered because of western policies. Everything will even out in the end, it is just a matter of time. People in the west have become so blinded by their comfort and luxuries at the expense of other peoples' lives abroad, that they can not even imagine living at a lower standard. Well, the time is coming, and it is coming fast.
There have been many reserve currency wars, and when it fully shifts, things will change drastically.
The laws of economics say any democracy, no matter how powerful, lasts only 200 years .. looks like times up!

Except none of that is right. The West, The US in particular is well like and respected across the globe outside of the Middle East at levels it has not seen before. Of course party of that is Russia's exit off the world stage and China's clumsy attempts at buying good will. The US will show up build a well, a school house and bridge using US dollars and local workers. China shows up builds a big government building, brings its own laborers and then leaves with host country unable to afford to maintain the building.

And on top of that China has heavily invested in the US Dollar as its reserve. Sure it wants its own currency to be seen a reserve as well but, it will not crack the top 5 for a couple of decades if even then. China has growing economic problems and if anything hurts the dollar the US buys less and China suffers even more. So you can pretend some great change is coming but, it is not. Why? Because everybody is looking out for what is best for them. And what is best is a strong US dollar.

a reply to: junglimogli

While socialist, communist and dictatorships last a fraction of that.

Let me ask -
Russia - List the names of the people who have prospered under the current Russian government.
China - List the names of the people who have prospered under the current Chinese government.
N. Korea - List the names of the people who have prospered un the current N. Korean government.
Venezuela... Belarus...Cuba... etc etc etc

Russian young hooligans talk than big cabinet , the louder falls

originally posted by: mangust69
Russian young hooligans talk than big cabinet , the louder falls

“All animals are equal, but some animals are more equal than others.”
- George Orwell (Animal Farm)