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Thread: De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement

  1. #1

    De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement

    Didn't see this posted yet. It seems that this is something to be watching closely. Interesting comments being made concerning the article.
    De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement
    Tyler Durden's pictureSubmitted by Tyler Durden on 08/09/2014 14:21 -0400
    The last 3 months have seen Russia's "de-dollarization" plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this week, Russia's oligarchs have shifted cash holdings to Hong Kong. But this week, as RT reports, Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments. “"The agreement will stimulate further development of direct trade in yuan and rubles on the domestic foreign exchange markets of Russia and China," the Russian regulator said.
    Read more: http://www.zerohedge.com/news/2014-0...swap-agreement
    On Trump:
    How conservative Republicans can continue to support this arrogant imposter—the man who brags about inflicting the world with the Covid mark of the beast; the man who said, “Take the guns first, go through due process second”; and the man who deliberately played and then set up Stewart Rhodes (of course, Stewart was all too eager to be Trump’s patsy) for an 18-year prison sentence—is truly beyond my comprehension.” Chuck Baldwin



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  3. #2

  4. #3
    Well my friend, it seems that the chances for world war have been increased exponentially.
    On Trump:
    How conservative Republicans can continue to support this arrogant imposter—the man who brags about inflicting the world with the Covid mark of the beast; the man who said, “Take the guns first, go through due process second”; and the man who deliberately played and then set up Stewart Rhodes (of course, Stewart was all too eager to be Trump’s patsy) for an 18-year prison sentence—is truly beyond my comprehension.” Chuck Baldwin

  5. #4
    The way I see it, is that either there will be war, or total collapse of the US economy. Things that make you go hmmm.
    On Trump:
    How conservative Republicans can continue to support this arrogant imposter—the man who brags about inflicting the world with the Covid mark of the beast; the man who said, “Take the guns first, go through due process second”; and the man who deliberately played and then set up Stewart Rhodes (of course, Stewart was all too eager to be Trump’s patsy) for an 18-year prison sentence—is truly beyond my comprehension.” Chuck Baldwin

  6. #5
    Quote Originally Posted by Cap View Post
    Well my friend, it seems that the chances for world war have been increased exponentially.
    The rest of the globe is getting tired of our $#@!.

    If we can't reign in our politicians I have no doubt they'll lead us right into WW3...

  7. #6
    Quote Originally Posted by tod evans View Post
    The rest of the globe is getting tired of our $#@!.

    If we can't reign in our politicians I have no doubt they'll lead us right into WW3...
    Correct...but alas, it may be to late.
    On Trump:
    How conservative Republicans can continue to support this arrogant imposter—the man who brags about inflicting the world with the Covid mark of the beast; the man who said, “Take the guns first, go through due process second”; and the man who deliberately played and then set up Stewart Rhodes (of course, Stewart was all too eager to be Trump’s patsy) for an 18-year prison sentence—is truly beyond my comprehension.” Chuck Baldwin

  8. #7
    Quote Originally Posted by Cap View Post
    The way I see it, is that either there will be war, or total collapse of the US economy. Things that make you go hmmm.
    Or both.

    In any case, I, for one, am going to expect another 1929/1987/2008-style October Correction, and plan accordingly.
    Quote Originally Posted by Swordsmyth View Post
    We believe our lying eyes...

  9. #8
    Does anyone know what time Zippy's shift starts?
    On Trump:
    How conservative Republicans can continue to support this arrogant imposter—the man who brags about inflicting the world with the Covid mark of the beast; the man who said, “Take the guns first, go through due process second”; and the man who deliberately played and then set up Stewart Rhodes (of course, Stewart was all too eager to be Trump’s patsy) for an 18-year prison sentence—is truly beyond my comprehension.” Chuck Baldwin



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  11. #9
    Quote Originally Posted by Cap View Post
    Does anyone know what time Zippy's shift starts?
    They'll have to buck up for some overtime pretty soon....

  12. #10
    Quote Originally Posted by tod evans View Post
    They'll have to buck up for some overtime pretty soon....
    Maybe they'll have to start paying in rubles... with all this de-dollarization Russia's leading, I bet their currency is doing great as the dollar collapses.
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

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    the loss of reserve currency status will happen slowly but we will survive. Our standard of living would be lower & welfare state will crash there will be riots but thats why we are arming the police to the teeth. If you look at history of reserve currency countries that lose it do survive. The bigger question is who will be the new bankers "BIG STICK". Since US would not keep its defense budget as big as it currently does. Any thoughts?



  15. #13
    Quote Originally Posted by Cap View Post
    Correct...but alas, it may be to late.
    It's way way waaaaaaaaaay too late. This is the kind of stuff that happens after the ship has sailed.

    The rest of the world sees the US speaking with the voice of a baldfaced liar. Of course they are running away as fast as they can!

  16. #14
    Quote Originally Posted by Cap View Post
    Does anyone know what time Zippy's shift starts?
    They follow the sun schedule & currently are operating out of Japan & they busy maintaing order at other forms please be patient.

  17. #15
    Quote Originally Posted by AFTFNJ View Post
    the loss of reserve currency status will happen slowly but we will survive. Our standard of living would be lower & welfare state will crash there will be riots but thats why we are arming the police to the teeth. If you look at history of reserve currency countries that lose it do survive. The bigger question is who will be the new bankers "BIG STICK". Since US would not keep its defense budget as big as it currently does. Any thoughts?


    This will be more severe than previous reserve currency failures, since the entire world is floating against us in a giant steaming pile of fiat.

  18. #16
    Quote Originally Posted by Shane Harris View Post
    This will be more severe than previous reserve currency failures, since the entire world is floating against us in a giant steaming pile of fiat.
    Well, at least we know we won't lack for toilet paper. We may not have anything else to our names as the Clintons and Bushes fly our gold to Oman, but we'll have plenty of nice, intaglio-printed Federal Reserve toilet paper.

    Can't have civilization without it, right?
    Quote Originally Posted by Swordsmyth View Post
    We believe our lying eyes...



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  20. #17
    LibForestPaul
    Member

    Quote Originally Posted by tod evans View Post
    The rest of the globe is getting tired of our $#@!.

    If we can't reign in our politicians I have no doubt they'll lead us right into WW3...
    There is no US. Wish people stop with US. There are those with wealth, and the rest. There are English, Japanese, Dutch, and Germans with large holdings of assets within the US. And many US with large holdings in Russia, and China, and India, and Switzerland. These monied families have no intention of losing their US wealth. They may force us to lose our wealth but they will be fine.

  21. #18
    Quote Originally Posted by LibForestPaul View Post
    There is no US. Wish people stop with US. There are those with wealth, and the rest. There are English, Japanese, Dutch, and Germans with large holdings of assets within the US. And many US with large holdings in Russia, and China, and India, and Switzerland. These monied families have no intention of losing their US wealth. They may force us to lose our wealth but they will be fine.
    What exactly constitutes wealth to you?

    To me it's land and gold........In that order.

    A few families may hoard gold but land is another matter.

  22. #19
    What's this BS currency swap crap?

    Here's a bazillion of my phony currency, now give me a bazillion of your phony currency.

    Smoke and mirrors.

  23. #20
    LibForestPaul
    Member

    Quote Originally Posted by tod evans View Post
    What exactly constitutes wealth to you?

    To me it's land and gold........In that order.

    A few families may hoard gold but land is another matter.
    Power and obedience.

  24. #21
    UK is now threatening to lock out Russia from the SWIFT system:

    http://www.bloomberg.com/news/2014-0...g-network.html

    This will only serve to accelerate plans for the BRICS bank and alternatives to the petrodollar.



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