goldenequity
02-25-2011, 12:32 AM
Good News America
http://img820.imageshack.us/img820/4436/goodnews.png
the Dollar is officially being dumped (and fast).
This is a BIG domino... and Russia did the same last month.
Bank of India becomes first to offer trade settlement in yuan (dump Dollar)
via: TimesOfIndia (http://timesofindia.indiatimes.com/world/china/Bank-of-India-becomes-first-to-offer-trade-settlement-in-yuan/articleshow/7565143.cms)
"We are the first Indian bank to offer real-time settlement facility in RMB
to Indian exporters and importers.
It will be save a lot of time because settlement in US dollars
usually takes three working days,"
Indian buyers are at present making payments in US dollars,
and they often have to convert rupee into the US currency for the purpose.
The US dollars will no more be the intermediary currency
as the BOI is offering direct settlement between the rupee and the Chinese money.
Chinese exporters want their money in the local currency,
which is regarded as more stable compared to the US dollar.
They are also in a position to have their way because Indian buyers
do not have an alternative source of low-cost goods, sources said.
The FED is now the LARGEST holder of US Treasuries (aka circle jerk)
and we can no longer export our inflation away to other countries via
the World Reserve Currency.
And so it begins.....
Then and Now...
Years ago, Then Venezuela said it wanted to get off the dollar.
All of a sudden, their leader was labeled evil dictator
and a failed coup attempt followed.
Then, Iraq said it wanted to get off the dollar.
Another leader was labeled evil dictator
and a successful coup attempt followed.
Now China said it wanted to get off the dollar.
The US sends Clinton over to beg the Chinese to keep buying US securities.
Their leader is not called an evil dictator, and no coup attempt.
and Now, other smaller and weaker countries
can hang onto China's coat-tails and get off the dollar.
The US dollar ( accelerating) will now lose its status
as the world's reserve currency.
So much for the Petro Dollar.
Those days are gone.
and remember Obama's big flotilla trip over there
several months ago????
that worked out well didn't it???
http://img820.imageshack.us/img820/4436/goodnews.png
the Dollar is officially being dumped (and fast).
This is a BIG domino... and Russia did the same last month.
Bank of India becomes first to offer trade settlement in yuan (dump Dollar)
via: TimesOfIndia (http://timesofindia.indiatimes.com/world/china/Bank-of-India-becomes-first-to-offer-trade-settlement-in-yuan/articleshow/7565143.cms)
"We are the first Indian bank to offer real-time settlement facility in RMB
to Indian exporters and importers.
It will be save a lot of time because settlement in US dollars
usually takes three working days,"
Indian buyers are at present making payments in US dollars,
and they often have to convert rupee into the US currency for the purpose.
The US dollars will no more be the intermediary currency
as the BOI is offering direct settlement between the rupee and the Chinese money.
Chinese exporters want their money in the local currency,
which is regarded as more stable compared to the US dollar.
They are also in a position to have their way because Indian buyers
do not have an alternative source of low-cost goods, sources said.
The FED is now the LARGEST holder of US Treasuries (aka circle jerk)
and we can no longer export our inflation away to other countries via
the World Reserve Currency.
And so it begins.....
Then and Now...
Years ago, Then Venezuela said it wanted to get off the dollar.
All of a sudden, their leader was labeled evil dictator
and a failed coup attempt followed.
Then, Iraq said it wanted to get off the dollar.
Another leader was labeled evil dictator
and a successful coup attempt followed.
Now China said it wanted to get off the dollar.
The US sends Clinton over to beg the Chinese to keep buying US securities.
Their leader is not called an evil dictator, and no coup attempt.
and Now, other smaller and weaker countries
can hang onto China's coat-tails and get off the dollar.
The US dollar ( accelerating) will now lose its status
as the world's reserve currency.
So much for the Petro Dollar.
Those days are gone.
and remember Obama's big flotilla trip over there
several months ago????
that worked out well didn't it???