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Russia Returns Favor, Sees Chinese Yuan As World Reserve Currency
Following China's unwillingness to vote against Russia at the UN and yesterday's news that China will sue Ukraine for $3bn loan repayment, it seems Russia is returning the favor. Speaking at the Chinese Economic Development Forum, ITAR-TASS reports, the Chief Economist of Russia's largest bank stated that "China's Yuan may become the third reserve currency in the in the future."
Managing Director and Chief Economist of investment company Sberbank Yevgeny Gavrilenkov said at the 15th governmental Chinese economic development forum in the Chinese capital on Sunday (via ITAR-TASS):
"China’s yuan (renminbi) may become a third reserve currency in the world in the future"
"This forecast can be made on figures of domestic economic growth. Probably the country will keep high GDP growth rate and the GDP volume will increase to around 14-16 trillion U.S. dollars for a brief period of time, the indicators comparable to the European Union and the United States.
Meanwhile, Chinese securities are more attractive for the countries that have a surplus in economy, particularly the Middle East states; and China will obviously follow the path of securing the country’s assets,"
The forum which opened in the Chinese capital on March 22 discusses a broad range of issues of economic reforms and China’s stronger role as the second largest world economy. First Deputy Prime Minister of the Chinese State Council Zhang Gaoli, Managing Director of the International Monetary Fund Christine Lagarde and top managers of major world corporations participate in the forum as honorary guests.
Of course, as we noted previously, nothing lasts forever...
[12]
and with Friday's "Petrodollar Alert" perhaps things are moving faster than many assumed.
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The futures market will not stand for this. Now witness the power of paper and propaganda!
Quick someone play some music while the ship sinks!
Do you hear what I hear?
There's a leak somewhere.
< Yuan for the money!
< Lets get ready to RUBLE!
DXY flash crash monday?
One can always hope.
Putin to Obama: "Can you hear me now!?!".
disturbing photo though.
is a zipper check warranted?
just providing info
http://investmentresearchdynamics.com/zerohedge-is-wrong/
thanks
like to hear Tyler in regards to this, too!
In order to do start buying Russian gas, China would have to sell their US treasuries, dropping their price. They wouldn't EVER do that to us!!! /sarc/
In the end does it really matter. If the Yuan is priced to the USD, is that not leaving the USD as reserve currency de facto? Drop the peg and things will change then.
I saw that article today. I too find that ZH article bizarre. So all last year we read about the GLD holdings being dumped, 4 guys in a room in London with telephone's price fixing the market, Bloomberg articles admitting manipulation of bullion by the banks...JPM vaults being emptied....only to know change the story to it being China somehow managing to suppress prices....
and supression by some exotic shadow banking scheme........not saying i understand the nature of the beast but it's not yet all adding up for me either
Any reason that both explanations can't be correct(ish)? Both scenarios make sense to me. The West wants to suppress the price as part of sustaining the ponzi and the Chinese certainly want to take advantage of, if not contribute to, price suppression if you accept the premise that they are loading up on physical gold for strategic reasons.
I'm sure there's a bullshit buffet we all get to have second to sixth helpings for....I'm just a schmoe like you. We are not privy to front running.
JPM just sold their commodities unit.Gold rigging it being investigated in London
and Frankfurt. and this TBTF authored report comes out.
Could turn you into a conspiracy nut, not quite sure why the Tylers endorsed it though.
<dupe>
According to RATionalwiki.shit, ZH is "batshit crazy". If all of these fuckers are coming out to disinfo and redirect folks away from ZH I think they are doing something right.
Or...on this particular article, they are actually batshit crazy. How many 8:30am slam downs do we have to see and $50 fed day knockdowns to realize maybe the simplest explanation is the right one.
ZH isn't gospel, but they bring forth stories I'd never hear elsewhere. Are they sometimes wrong or looking too hard? Sure.
I hear you, and I am always the dick when I go against them. But I only do it because when everyone agrees with them they are awesome. When everyone disagrees with them that means they must be doing something right. So in effect they are gospel. So I sometimes feel the need to point out that it is possible that sometimes they may just be either wrong, or changing the narrative for some strange reason. They still post good stuff, better than anything else out there.
Even the dissenting opinion needs to be dissented against. +1
eyes open
ears open
bum hole closed
it's the only way to operate these days
No, ZH is not Gospel. It's better than Gospel: there's nothing in the Gospel that we could not have figured out by ourselves, but plenty in ZH we didn't and could not have figured out by ourselves.
P.s. the Gospel CONditions you to believe in unprovable invisible products, ZH teaches you to beware of them an their purveyors.
Yeh, sort of how you believe in invisible voodoo bit'coins'. Just sayin, yo lolz
Hey Echoes I know why you wear the bag and hear echoes. If you take off the bag there is nothing there LOL
Listen you anencephalic twat, the only voodoo is what Ill DO to YOU when I bend you over and ram you so hard your other end will be like a loudspeaker in a horror picture flick
Lay off the Captain or I may have to work you over some more...
And all the child molesting priests that downvoted the captain better hope I dont find you and bury my Cowboy boots with spurs all the way to my knees into your bungholes
Anyone can cherry-pick, not everyone can really pay attention, it seems. Note that I said untestable invisible product.
Lots of things in the universe are 'invisible' to the naked eye, But they can certainly be made visible or tested with man-made tools. Electronic data (bitcoin or otherwise) can and is accessible and subject to testing, creating or deleting. "God" or "gods"... not so much.
Optional: We digress, but... I say the following, not to offend, but in the sincere hopes that at least some people/sheeple will cast aside childish things and worn out hand-me-down superstitions and fables.
At this point it is fair and accurate to say that "God did not make make man". Rather, "Man made God/gods". It is FAR more credible that Space Aliens with impressive tech and space ships (like the Enterprise) had a "hand" in our evolution, and that they were worshipped as "gods" by primitive, pastoral tribesmen. If anything, this Yahweh/Elohim character reminds me of some Klingon assholes I know -- so to speak: Arrogant, insecure, obnoxious and erratic. Kinda like some guys with Money & Toys whom I know.
It's time to put away primitive and childish things, and see things clearly as they truly ARE. See "God's God" http://www.youtube.com/watch?v=ODetOE6cbbc
p.s. Have you ever noted how it is so easy for religulous types to question modern models, postulates or theories, but their brains are totally immobilized from usage, when it comes to ancient Literature? Literature of unprovable lineage, accuracy, etc, etc., and written by primitive people with less education than a 5th grader. Why believe that ancient literature, but not believe modern concepts?
pps. Don't Feed the Ducks. Don't Feed the Animals. And... Don't feed the Shamans & Shills. Make them get a real job.
Thank you for posting this link.
Read it too.
Some of the comments rather scathing.
naughty zh.
disturbing photo though.
is a zipper check warranted?
if they were in middle school somebody would have a boner by now in this slow dance
the photo just show Putin is not homophobic. One more msm myth down.
Five Points!
http://www.wheatandtares.org/7503/the-sacred-embrace-as-five-points-of-f...
Nope, Im on the golf course and I am busy, call back. Wow one POS president.
Yes, the currencies of US's largest trading partners are going to soar tomorrow /sarc
That would be in the Fed's favor short term - long term they are fucked. Remember the Fed/UST are in the Import/Export business and they import money now when their bonds are bid on and export dollars at a later date, with the exchange rate fixed by them.
When a central bank is faced with deflation they should lower the value of the currency to increase exports. Econ 101.
Attack! Send in the protesters!
Nuland, call your office!
Hey, don't step on my Red White and Blue Suede golf shoes...
The Lodges want another culling. There is nothing Americans hate more than a reserve currency rethink.
..
This is one of the rare times that calls for the dramatic chipmunk:
http://www.youtube.com/watch?v=a1Y73sPHKxw
The ships already sank and we're all stranded on a island full of crazy bastards.
Nearer my God to thee
Ho lee fuke....sum ting wong!:-)
Putin to Li Keqiang - "Yuana be the world's reserve currency?"
Goodbye dollar!
We need Mike Rogers and John "walnuts" McCain to start campaigning to provide taiwan with heavy weapons to stare down this menace now that they have planted the seeds for ww3 in ukraine.
This threat to national insecurity can't be ignored.
We should also go ahead and put a military base on the Senkaku Islands, just to be safe.
Manned exclusively by the most experienced and tenacious old experienced warriors amongst the brave, Captain John McCain and in the best interests of fidelity, democracy, equality, fraternity and social justice, supported with and as his bunk mate, his happy warrior sidekick, Lindsay Graham.
"Never fear, Whatthefuck is here!"
Yeah, McCain has a purple heart or something on the back of his shorts.
Picture the two of them locked up in the stocks. It would be a good day for Real America.
Give it time.....some clown will think you're being serious and downvote you.
They should make Walnuts a bamboo outpost there to remind him of tyhe good old days of collaborating with the enemy.
Hanoi Hilton had too much temptation for old hero McCain
McCain's flying record is one of shame and disaster. Had he not been an Admiral's son, he never would have graduaded the academy. Never gone to flight school. Never been given jets. Never been a part of an at sea flight deck disaster, never been shot down. McCain endured his captivity with some honor, but his mind is now fried. A child of privilege and a questionable naval aviator. No man with his record would ever have gotten to the deck of a carrier without Daddy Admiral running cover for his legion of errors, mistakes and foolish stunts. Read his military biography.
Someone's waay ahead of us here...
So Knuck, when the time comes, some will be put in charge of pointing out every one of those "experienced warriors" that will be put on that island. It's a good thing to know you have been picked for the job and have a handle on just who should go there. Might even be a panel formed to pick the lucky vacationers from the dignitaries among this forum of fine thinkers, and tinkers here. Not much hides under the rocks without seeing the light here.
Reckon what will be interesting to see if we live after the train heads off the cliff, is the people of new state trading with the Yuan in the former USA. Life in the new socialist united peoples republic of China's bitch, once known as the USA, will be just that for the survivors. A real bitch!
http://www.couchtuner.eu/revolution/
There's two fishermen there with canvas tunics and rusty filleting knives; I'm not sure if we can take them.
Draw a red line.
That will scare them off.
Mike Rogers could be the poster-child of all those who "know" that World War 1 was started as result of assassination of Archduke Ferdinand at Sarajevo.
Europe's royal families were integrated by hundreds of years of intermarriage that promoted secret treaties and territorial arrangements and understandings. Such are the usual activities of all privileged classes seeking to maintain their status, or "security" . Ferdinands death setoff the domino-effect of those mostly secret and even ancient arrangements.
NATO is the hair-trigger that can set the world ablaze as, for example, when a 5-foot 135-pound wannabe Napolean is covertly pushed [by a megalomaniac and clever rich-uncle] to attack an elephant. Or a bear.
A Nazi is a Nazi is a Nazi. They're all clinical psychopaths and deserve to be locked up in a zoo cage.
Vitoria Nulland with her cookies is more efficient.
You know Anne Frank also baked cookies. When I look at Victoria's pre teen pics she reminds me a lot of Anne.
pity, the japs just tore the pictures. why are the japs so cruel anti-semitic? they dont even tolerate a victim of ww2? Ah, they are afraid that through the jews come the Nanjing+Holocaust industry?
I heard that the Japs killed 6 million Jews in Nanjing....
Good bye QE.
So long, and thanks for all the fish.
Stay calm. Do not panic.
calm is our last and only medicine. the 1% take everything elses from us.
"Goodbye dollar!"
Does that mean we finally rid ourselves of the dual citizen infestation too? At least something positive will come out of it.
In this embrace, it is Amereeka who screwed!!!!!
Third? ..or only?
The enemy of my enemy ... ah fuck it all ... enjoy the fireworks.
Cool avatar - did you have that custom made?
ruh roh !!! whod coulda seen this coming...
Another speech from the Royal Golf Charriot should make all well.
Long Ativan, clozapine and olanzapine.
Beware the extarpyramidal symptoms.
Isn't Michelle and the girls over there trashing the top of some Hotel somewhere?
Yes, and spending more in one night than most get in social security retirement for a whole year.
Corruptol™ is a helluva drug!
Those ancient Egyptian slaves who made paper from papyrus reeds must be laughing at the idiocy of the modern world that functions on a hierarchy of paper.
Another win for Bitcoin.
Wait till China annexes half of Russia in 30-50 years. Through a referendum of course. Chinese in typical asian political pattern try to appear "pleasing" both masters when in fact they are the only ones benefitting from this mess.
Nu-clear Weapons.
Properly sited and deliverable they make an exceptional argument against invasion.
Look at Russias border! What ? You're going to nuke your own country ? The way the Russian far east will be invaded is by the same method Russia used to invade smaller countries. By getting their own population in. If you think the U.S. border is hard to defend. Think again..
you can't back a currency with nothing but Gold. it'll never work silly China..
Currency that's backed by precious energy plus precious materials -- not to mention "lots of cheap labor"-- Wow, what a concept, what a model for Russia and China.
The Neocons are probably calling Dick Cheney's heart surgeons.
There is an interesting fiction book called "Dragon's Fury: World War Against America and the West" by Jeff Head that examines this scenario.
A bit 'over-written', it nonetheless lays out a plausible storyline.
Free ebook download: http://www.jeffhead.com/ebookdownload/DFS-WorldWar.pdf
So russia, a serial defaulter with one of the world's worst currencies, thinks communist china's non-convertible toilet paper will be the reserve currency? That's excellent news for the dollar, seeing as how russia wouldn't know sound global finance if it annexed siberia.
Fiat currency is in a death spiral. Just let it go.
Cottonelle, Charmin, Northern - in the long run it doesn't matter the name of the fiat currency.
Bullshit is thick today ...
Let's see China say's they move from position #9 to #3,
That means they have to go from 2% to 20%, a 10X in trade, that would be just to kick JPY out of #3.
Then the worst misleading is that old #1 the USA is at 80% of currency trade, which means to compete with the USD China must go up 40X, just to kick the USA out of #1.
Gonna happen in your lifetime?
Nada,
The USD is king until a better KILLER steps forward and out MURDER's uncle-sam.
http://en.wikipedia.org/wiki/Foreign_exchange_market
John, is that you?
How's that whole censure business working out?
Good observations.
What with the Putin man-love/Barack man-adversion obsessions about these days, it'll attract a lot of red votes, but is astute.
After all, not day 1 since the gold and other resources has been available to the oligarchs and their minders for reserve and hardened currency purposes now, is it?
@ knukles,
I don't disagree with you very often, but in this case...
There is nothing 'astute' about the post that you respond to. This guy is a cheerleader for the Neocons, and nothing more. The USD is dead, and has been so since 1971 (at the latest). The Russians currently have a surplus (as do the Chinese), and between manufacturing, gold holdings (REAL, PHYSICAL; versus 'we have it but won't show it to you'), the combined abilities to field a one-hundred-million man army; AND all the tech weapons, they are no doubt seeing that they have the power and ability to crush this weak, self-involved, vain, gluttonous nation known formerly as 'the United States'. Any discussion about 'good news for the dollar' is simply theoretical at this point in time. There IS NO GOOD NEWS seen; nor will there be any. EVER. AGAIN.
Amazing it took them so long isn't it ?
The blood is in the water now, and there is no going back from here for anyone.
Russia and China; two of the oldest cultures with the greatest land mass and resources - both with history's of being invaded by interlopers.
It would be wise to not poke them in the ribs or sacrifice our industry while simultaneously abandoning what made the U.S. strong to begin with but...oops...too late.
"...russia wouldn't know sound global finance if it annexed siberia."
I'm thinking Russia knows finance better than you know geography as Siberia has been part of Russia since the 17th century.
Yeah the ruble hyperinflation was awesome!
Russia gave up their Soviet Empire without a hot war and there were grave economic consequences for that contraction/reorganization decision.
But it's now clear to me that you could have done better.
You're a really sharp guy, Mr. 47 weeks.
You ARE aware that the trade-weighted RUB is down more than 99.5% in the last 20 years, aren't you?
Your ideology/stupidity has already been recognized and addressed in this comment thread.
See below.
@ infiniti:
You're kind of new and stupid, here, aren't you?
The United States (incorporated) has been in technical default since 1933.
It took a Nixon to go to China. Whip inflation now. (Ford, 1975)
It was a magic bullet. (Ford, Warren Commission, 1963)
Common Core Education. (Ivy league, Communist plank)
War Is A Racket. (Smedley Butler)
I won't come in your mouth. If you like your doctor, you can keep your doctor. Shovel-ready jobs. (Obama's Columbia buddies)
Defecits don't matter. (President Cheney)
Remember the Maine. (Randolph Hearst)
Remember the Gulf of Tonkin. (MacNamara)
We have always been at war with Eastasia. (Wells)
Hong Kong and Shanghai Banking Cartel; the world's best and foremost bank. (Getting the Chinese stoned on Opium since the 1870's, and laundering drug money for over 130 years)
Duck, and cover. (Yertle the Turtle)
Your number is a secret one, only known to you and the trust that has been established in your name. (United States Social Security Administration)
YUP, you're either really new, really stupid, or really a PLANT. 'SERIAL DEFAULTER'? I mean, GET REAL...
Print MOAR... Paul Krugman
We have always been at war with Eastasia. (Wells)
I think you meant Orwell
Minitrue will be right on that.
George Wells, 103 Acaacia Ave,Wimbledon London SW16
FIFY
Keep downvoting you fools, lord knows you've got an enormous amount of time on your hands while you sit around and wait for the dollar to collapse.
ya can't spell "rubble" without "ruble"
Meanwhile, the EU Brussels Bandits and Wall Street Warlocks scramble to subjugate more serfs.
What is this "democracy" I keep hearing about; the freedom to be bled by parasitic bankers and their politician lackeys?
The photo is of a Vietnamese Politician with Putin. See the flag?.
Just sayin ;)
Vietnamese Chiinese whats the difference, oh yeah one has already kicked America's arse and the other is about to.
China has a bright future if they can get past the bankruptcies and the fraud.
That if is a very big if.
I know.
http://www.strategypage.com/htmw/htmurph/articles/20140323.aspx
Actually everybody would have a bright future if we could get past the bankruptcies,fraud, and bureaucratic dumbassery.
Worldwide US dollar dumping and no longer accepting of it is the only thing that would make the Federal Reserve fearfull.
China and Russia can help the Federal Rserve destroy the petro dollar and the US currency faster.
Am I the only one who feels that the biggest problems we face today are caused by our own leaders?
Or is that just my paranoia speaking?
Leaders? We have leaders?
"Yuan may become the third reserve currency"
Third? Can't be "third ever", so it will be a caring/sharing effort this time?
hush hush, no talk about IMF supercurrency around here...
Dear Comrade Putin. As you already know, our border is always open to anyone looking for a free ride....not to dissuade you from working for a living. I'm sure you realize that you will kick Hillary's fat ass all the way down Wall Street in the next election so I just wanted you to know that you can count on my vote as nobody in this country appears to have a fucking bone in their body.
Dear NSA, I am just kidding!
Soetero has a bone, unfortunately it's usually planted in Reggie's arse
If country could be run just like football club, is time for team EU change coach. Bring in Putin, an european.
They look like they're getting a lot of groin in that photo....and loving it
The real war is over King Dollar. That is where the action is, that is the fundamental underlying the power of the US war machine. We print half of what government spends, and owe straight up north of 14 trillion. We print and issue hundreds of billions in debt every few months. The Fed prints and buys. At the end of the day, Russia and China have a great weapon, go after King Dollar, the Petro Dollar Scam, and the ocean of Green Asswipe that the US floods the world with to buy all it needs to be the world's super power.
Between this announcement and the impending Russia-China energy trade deal, I think it is becoming more clear that BRIC strategy, lead by Russia and China, is an accelerated but controlled move to diversify away from settling global trade in alternative currencies, with the ultimate goal being an SDR-type unit of account becoming the standard for global trade settlement, and that there is no desire for the chaos that would result from a rapid dumping of USTs or declaration that USD will no longer be accepted for settlement.
No government, especially not authoritarian ones like Russia and China (and the US) have any desire to cause disorder of a magnitude that risks wide scale, violent internal strife (which is why even a bully like the US only really picks on / destabilizes weak nations that pose containable spillover risk). Perpetuating subjugation and control of the people, through benevoent bread and circuses where possible, and at the barrel of a gun where not, is the prime directive of government.
If you believe that The Banksters are pulling all the strings, then a move to an SDR system is logical. The BIS used the gold Franc until 2003. According to Wiki page on the BIS (apologies), "One SDR is equivalent to the sum of USD 0.660, EUR 0.423, JPY 12.1 and GBP 0.111. Included in that total is 404 tonnes (890,658 pounds) of fine gold." I think the recent hoarding of gold by Russia, China, India, et al. is part of a two part strategy: first, building up sufficient pressure to force adoption of the SDR as the global settlement unit of accuont, and 2) a reformulation of the SDR that is more heavily weighted towards gold, and incorporates the Ruble and RMB as component currencies of the formula.
Proponents of backed-currency theories are likely to be disappointed. It is no government's interest to ever try to reinstate a commodity backed currency (by which I mean a currency that is convertible into the underlying commodity), because you end up with the situation we had with France that led to Nixon's actions.
I'll wrap this up by saying that the primary thing I think those who live in US need to prepare for is the price inflation that will result from the repatriation of the USD that are no longer needed for global trade. I think what the US .gov is trying to figure out is how to control the rate of flow at which that happens.
totally agree. the only problem is there still some madman out there
I would agree with everything you say, but i cant help but think that printing SDR's is just another form of FIAT unless it is backed with something? i understand the weighting arguement but how do you control the monetary inflation?
Russian saying: Behind every piece of machinery stands a German
China saying: Behind every export stands a deficit dollar
US saying: Behind every deficit dollar stands a _ _ _
white man's dominion over the world economy acheived over the last 500 years is coming to an end. putin is the last smart white guy in the room. he sees the trend and has spearheaded the takeover. if i were white i would worry seriously about execution, enslavement and re-education gulags since that is what the chinese and russians have favored for centuries to control meddlesome people. don't think for a second you will get a pass because humans are more civilized in the 21 century.
white man's burden will become "white man is a burden"
This white boy is still kicking. Not going down like a punk.
i am more afraid they treat us just like we treat them for this last 100 years.
When Barry O gets off the golf course, he'll come up with a plan to keep this from happening right?
I thought to play golf you needed balls.
He has a caddie who handles his balls and spit-shines his putter.
caddie only lead from behind
China, the Saudis, Russia, Argentina, India,... time to kill the US dollar and send the Federal Reserve reeling!
One curious long term observation. THe US has conspiciously vboided all direct and indirect efforts to audit its gold reserves dispite massive evidence (think german) that they are largely gone. Then China has consistantly avoided all efforts to audit their true gold holdings dispite massive evidence that they have been heavily accumilating gold for some time now.
" Speaking at the Chinese Economic Development Forum, ITAR-TASS reports, the Chief Economist of Russia's largest bank stated that "China's Yuan may become the third reserve currency in the in the future." "
long standing misconception laid bare for all those of the zh neighborhood to see for themselves. those, whom have heard me preach in the past that there is in fact no such thing as a reserve currency in the world anymore. all currencies are no more than a push of the button away.
the relative value of an x to a y to a z, is already in the system.
putin speaks of the third reserve currency...as if that is a discernible event from being number one or number two.
this is the man who, when presented with the opportunity of letting 97.5% of crimea to vote in his favor, chose to bar international observers and played a 'let's put bands over our russian uniforms' coward's game.
but let the praise come forth. for hear yea! here yee! the god putkin has spoken: there is in existence already, a second reserve currency.
the rest is math.
WallowaMountainMan
p.s. 'reserve currency' is a a concept much like that of 'banking' as a term prior to shadow banking emergence.
its history.
Stopped reading at
a third reserve currency in the world
pure marketing or propaganda bullshite...
Move the financial capital from Wall Street to a Chinese city as well. People in Asia are very patient and determined.
China will not take it up as per se. The responsibility of being the sole reserve ccy is irrelevent becoz in the end its who's fiat will be backed by gold (depends on the % but atleast its worth something unlike the petrodollar thats worth nothing except confidence of the US military industrial complex and tie to saudi oil). The Ruble will also so be backed by gold as well as any other ccy and its government that has yellow metal. The gold standard is back and for the clowns that have been preaching the BS fiat only framework, well things will soon unravel that will make you jump like the banksters.
Stockholm syndrome is about to come to a shocking holt
Sounds nice anyway
I think the notion of another reserve currency is no longer of this and age.
the petrodollar is what allows the US to do the following:
1.Maintain lifestyle of 300+ million americans
2.Finance 900+ military bases around the globe
3.Finance US stock market and financial system
4.Give Federal Politicians their power
5.Buy cheap oil
6.Export inflation
7.Power Hollywood
8.Allow for cheap food in the US
9.Finance "Democracy from a Gun" invasions
10.Consolidation of global power
Gents, the PetroDollar is the Idol. Take the Idol down or even think about it and WWIII starts within 90 days. That is a fact.
Can anyone provide any links on the net discussing the likes of Netherlands, Spain and Portugal ever being the world's reserve currencies? Only ever really seem to see it in this image and would love some evdence or research on those nations have the reserve currency during those times.
Its a giant misnomer. Probably fewer things are more misunderstood than meaning of "reserve currency". "Reserve currency" means exactly that the country producing that currency has a huge trade deficit. Hence, it is of no benefit to the country producing the reserve currency, it is only a sign of advanced monetary system collapse.
Its a giant misnomer. Probably fewer things are more misunderstood than meaning of "reserve currency". "Reserve currency" means exactly that the country producing that currency has a huge trade deficit. Hence, it is of no benefit to the country producing the reserve currency, it is only a sign of advanced monetary system collapse.
A "Reserve Currency," in a global format, is a "Currency" accepted by global banks, government treasuries, and other industrial, financial and trading institutions as a means to satisfy and resolve world wide transactions of size or to hold as a safe liquid instrument.
It isn't strange that the US Dollar, "The Reserve Currency" is beginning to change. The sure sign a change is needed is realization that fewer US treasuries issued are being bought by other countries and more than ever by our own treasury. Treasuries are created and put up for sale in the Treasury Window. Unfortunately less are being bought by others. This is opposed to historic past practice. To continue to create new dollars and buying our own issued debt seems slightly reflective of a structure not entirely recognizable or, not monetarily realistic in end result .