Posted on 06/10/2014 12:49:52 PM PDT by Olog-hai
As we have been reporting (and forecasting for the past several years), the Eurasian anti-US Dollar axis is rapidly taking shape, with recent events catalyzed and certainly accelerated by US foreign policy in Ukraine, which has merely succeeded in pushing Russia that much closer, and faster, to China. The latest proof of this came overnight when the FT reported that Russian companies are preparing to switch contracts to renminbi and other Asian currencies amid fears that western sanctions may freeze them out of the US dollar market, according to two top bankers.
According to Pavel Teplukhin, head of Deutsche Bank in Russia, cited by the Financial Times, "Over the last few weeks there has been a significant interest in the market from large Russian corporations to start using various products in renminbi and other Asian currencies and to set up accounts in Asian locations."
Andrei Kostin, chief executive of state bank VTB, said that expanding the use of non-dollar currencies was one of the bank’s “main tasks”. …
(Excerpt) Read more at zerohedge.com ...
I’m not sure why the Russians did this...Don’t they know that an hour later they will be poor again?
I didn’t say the illegals are a NET benefit. But economically, any work they do is a benefit. If it were not, nobody would hire them to do it.
And why are you so outraged? You ignored my last sentence.
The fact that they are illegal, and are being brought in as an army to destroy the U.S., does not change the economic principle.
When, not if. Americans better wake up to make this happen.
However, I do think that if done correctly we could make in-roads in some countries in Latin America, helping ourselves and them in the process. If we ignore our hemisphere, we will wind up with more enemies in our hemisphere, and more illegal immigration. We should be in a dialogue with those countries that have similar values as ours (e.g. lots of Latin American countries value their families very highly, and have spiritual values similar to what ours have traditionally been). That dialogue, however, should be about how we can help each other and raise the standard of living across the board, not how we can absorb more of those they have not provided economic opportunity for.
You’re talking some long-ago burned bridges, that people like John Kerry have engaged in destroying the abutments to with his statement that the Monroe Doctrine is “over”.
Never said life would be better.
.
Once the USA loses reserve status bonds skyrocket to 15-25%. USA is unable to continue it`s neo-marxist policies. Medicaid/care, ss, obamacare, etc,etc, end and are left to the purvey of individual States.
The USA either pays it`s debts, 17 Trillion in public debt only, or goes bankrupt because it defied the enumerated powers of the Constitution.
Basically, it either forces the USA to accept enumerated powers or become a 3rd world banana republic with a dictator.
” Nothing Lasts Forever; World Bank Ex-Chief Economist Calls For End To Dollar As Reserve Currency”
http://www.zerohedge.com/news/2014-04-08/40-central-banks-are-betting-will-be-next-reserve-currency
What does that portend for national security? Remember, Obama and Hagel are gutting the military at the same time.
>> And why are you so outraged?
Because I’m paying attention.
Being outraged cannot change the economic truth.
I wasn’t referring to the fact that they are an army of invasion, to carry out Obama’s plan of destroying the U.S.
And I wasnt’ referring to the government largesse they consume.
I was referring only to the work they do. THAT, in and of itself, benefits somebody, or else the illegals would not be paid to do it.
You’re tedious.
Good night.
The thing with the Chinese currency is China owns a huge amount of the world’s raw materials. They won’t be giving those up anytime soon.
LOL
~The yuan? Endangered by a massive housing bubble and a slow decrease in Chinese economic growth. The Euro? They’re worse off than we are, and backed by many entities that could decide to independently pull out. The Rouble? Russia’s economy is one tenth of ours, and is almost totally dependent on oil and gas prices remaining high~
Russia is 1/7 of US economy, not tenth and apart from housing prices and ‘decrese in economic growth’ (from over 10 to under 10%) China holds the most manufacturing and a home for a billion hardworking people.
None of the above has a $15 thrillion debt as well.
Note: this topic is from 6/10/2014.How's that workin' out?
YES.
When the United States loses ‘reserve currency’ status (which is what Russians and Chinese are doing with this move) we won't be able to ‘print’ our way out of debt.
Ever wonder why countries like Haiti can't ‘print more money’ to run their governments when they're broke? It's because they're NOT a reserve currency. That's what's happening to the United States. We're becoming Haiti...we're losing reserve currency status because of Obama and the filthy lying democrats.
YES.
When the United States loses ‘reserve currency’ status (which is what Russians and Chinese are doing with this move) we won't be able to ‘print’ our way out of debt.
Ever wonder why countries like Haiti can't ‘print more money’ to run their governments when they're broke? It's because they're NOT a reserve currency. That's what's happening to the United States. We're becoming Haiti...we're losing reserve currency status because of Obama and the filthy lying democrats.
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