Thanks Barack… CHINA & RUSSIA QUIT DOLLAR!
Posted by Jim Hoft on Wednesday, November 24, 2010, 8:50 AM
More Hope and Change…
THANKS BARACK!
China and Russia decided to renounce the US dollar and use their own currencies for bilateral trades.
China Daily reported:
China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.
Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.
“About trade settlement, we have decided to use our own currencies,” Putin said at a joint news conference with Wen in St. Petersburg.
The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.
The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said.
“That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries,” he said.
Putin made his remarks after a meeting with Wen. They also officiated at a signing ceremony for 12 documents, including energy cooperation.
The documents covered cooperation on aviation, railroad construction, customs, protecting intellectual property, culture and a joint communiqu. Details of the documents have yet to be released.
This comes after the Fed pumped $600 billion into the economy earlier this month.
Already the dollar has lost 13% against the Japanese yen this year. And even the euro, which was battered by the European debt crisis this spring, has gained 18% against the dollar since June.
More… Business Insider added this, via Free Republic:
It’s not the end of the world if the dollar isn’t the world’s sole reserve currency. It certainly hasn’t been bad for the yen, or the Singapore dollar, or the Swiss Franc — all widely respected and used global currencies — that aren’t THE RESERVE CURRENCY. There’s plenty of stuff to freak out about. This is not one of those things.
ADVERTISEMENT
-
Featured Story:
Rev. Jeremiah Wright: Barack Obama Has Done Nothing For Black Community (Video)
Published May 16, 2012 at 7:37 pm - 45 Comments
Multitude commented:
Obama said he wanted gasoline to be over $4.00/gal, Chinese imports to be impossibly expensive, making defense spending prohibitively expensive and unsustainable, and valued a massive tax on Americans. Through one single mechanism — having the Federal Reserve flood the globe with dollars — he’s accomplishing those goals. No Congress was needed, and no Supreme Court can interfere, and he’s just getting started.
Empires collapse quickly once they reach that critical downward mass. He won’t need a second term for what he’s accomplishing. Now, if we only had a war with China Obama could kick off somehow…
bg commented:
++
omg, Cloward Piven works!! it really works!!
it really can hasten the fall of capitalism!! /s/
dear brother & sister IslaMarxists, let me be clear, we must celebrate,
ergo, Meesh & i will be off to Hawaii just in time to rejoice & thank God
for all the blessing he’s bestowed upon US for our all the sacrifices we
made.. B Hussein O
==
bg commented:
++
gah re: #2
for our all the = for all the
==
truth teller commented:
Obama needs to be impeached…we need to start the process of removing this incompetent, delusional, and dangerous ‘man’ from the helm.
Stand up! We don’t have time…
GrayRider commented:
And so it begins……………
RancherRancid commented:
How long before the dollar totally collapses – by Christmas?
Iconoclast commented:
This cowardly, incompetent, narcissistic turd . I just hope it chokes on a turkey bone while it cannibalizes its more intelligent, bird-brained cousin. If we still have a country in 2012, there won’t be any dims re-elected outside of the gooney bird refuges.
IMPEACH NOW !!!!
Adirondack Patriot commented:
Geithner has to go. MUST. GO. NOW!
He is criminally incompetent!
bg commented:
++
Multitude #1
Breaking The War Mentality
[In 1933 the German establishment thought it could use Hitler to restore a modicum of order to the confused and confusing Weimar Republic. In fact, Hitler did strengthen the German establishment, but not exactly in the way the bankers and businessmen had wanted; and now, fifty years later, it is clear who was using whom. Nevertheless, the Western World did not complain in 1933 because Hitler, though a fascist and a totalitarian, was seen, like countless American puppet dictators today, as someone who leaves the established order in place.
Not so the Greens. If a group of young, anti-establishment pacifists wiith unusual ideas and uncomfortable answers to hard questions terrifies us more today than Hitler, Himmler, Goering and Goebbels did back in 1933, our terror says more about us than it does about the Greens or the Germans. It indicates that we have failed to comprehend the meaning of Nazism and blind obedience to authority in their full horror, and that we, unlike the Greens, have yet ourselves to learn the democratic lesson that we have taught the Germans so well.]
Young Obama Wrote Article Blaming
America For ‘Growing Threat of War’
[If Obama still has this sensibility, he could be poised to take American foreign policy sharply to the left, notwithstanding the centrist foreign policy team he has assembled. Moreover, since Obama didn’t recognize the Soviet menace during the Cold War and blamed the possibility of war entirely on the United States, there’s good reason to think that today he could lack the moral clarity needed to fight radical Islam.]
forget fighting Islamists, he’s “in our face” aiding & abetting the them..
==
avery commented:
Obama has Won.
dwd commented:
Why should Obama care? Why do you assume this wasn’t his goal? He’s the guy who thinks America has been top dog too long, that other countries deserve a turn, and that ultimately everyone should be lowered down to the same lowest common denominator playing field.
No Man commented:
First fruits of QE2 . . .
John Griffin commented:
The USA has been subverted by a foreign hostile tribe for a long time.
Our ancestors failed us.
silentcal_rox commented:
And I thought obummer had a bond with his “fellow travelers!”
aprilnovember811 commented:
And to think he’s being paid for this, huh?
bg commented:
++
silentcal_rox #14
oh, but he does!!
==
bg commented:
++
Obama thinks wars are America’s fault because she defends herself, or
comes to the aid of those in need, ergo, if we just let every EVIL (fitb)
past, present & future do their thing, there would be no need for wars..
==
Simon commented:
“The buck stops here”
-b. Hussein Obama
Scott commented:
The Chinese need oil, the Russians have oil. I wouldn’t read much more into the equation than that fact…We should be beyond oil by now but our green fascists killed nuclear and have stonewalled our own production initiatives…All the fools did was extend the life of oil as the world’s industrial fuel for fifty years and cause Americans to send trillions overseas to oil producing despots. We need an energy policy aimed at making this country independent of foreign oil period…Anything else is rubbish!
Lawrence commented:
Audit the FED!
Free the Slaves!
Veinerchitzel commented:
“a nation of sheep produces a government of wolves” to be so angry, determined and passionate is a welcomed gift to all free moral agents willing to fight in defense of Liberty and self-preservation. Better late than never…