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Russia Holds "De-Dollarization Meeting": China, Iran Willing To Drop USD From Bilateral Trade
That Russia has been pushing for trade arrangements that minimize the participation (and influence) of the US dollar ever since the onset of the Ukraine crisis (and before) is no secret: this has been covered extensively on these pages before (see Gazprom Prepares "Symbolic" Bond Issue In Chinese Yuan; Petrodollar Alert: Putin Prepares To Announce "Holy Grail" Gas Deal With China; Russia And China About To Sign "Holy Grail" Gas Deal; 40 Central Banks Are Betting This Will Be The Next Reserve Currency; From the Petrodollar to the Gas-o-yuan and so on).
But until now much of this was in the realm of hearsay and general wishful thinking. After all, surely it is "ridiculous" that a country can seriously contemplate to exist outside the ideological and religious confines of the Petrodollar... because if one can do it, all can do it, and next thing you know the US has hyperinflation, social collapse, civil war and all those other features prominently featured in other socialist banana republics like Venezuela which alas do not have a global reserve currency to kick around.
Or so the Keynesian economists, aka tenured priests of said Petrodollar religion, would demand that the world believe.
However, as much as it may trouble the statists to read, Russia is actively pushing on with plans to put the US dollar in the rearview mirror and replace it with a dollar-free system. Or, as it is called in Russia, a "de-dollarized" world.
Voice of Russia reports citing Russian press sources that the country's Ministry of Finance is ready to greenlight a plan to radically increase the role of the Russian ruble in export operations while reducing the share of dollar-denominated transactions. Governmental sources believe that the Russian banking sector is "ready to handle the increased number of ruble-denominated transactions".
According to the Prime news agency, on April 24th the government organized a special meeting dedicated to finding a solution for getting rid of the US dollar in Russian export operations. Top level experts from the energy sector, banks and governmental agencies were summoned and a number of measures were proposed as a response for American sanctions against Russia.
Well, if the west wanted Russia's response to ever escalating sanctions against the country, it is about to get it.
The "de-dollarization meeting” was chaired by First Deputy Prime Minister of the Russian Federation Igor Shuvalov, proving that Moscow is very serious in its intention to stop using the dollar. A subsequent meeting was chaired by Deputy Finance Minister Alexey Moiseev who later told the Rossia 24 channel that "the amount of ruble-denominated contracts will be increased”, adding that none of the polled experts and bank representatives found any problems with the government's plan to increase the share of ruble payments.
For the benefit of our Russian-speaking readers, the interview with Moiseev is below and the transcript can be found here:
Further, if you thought that only Obama can reign supreme by executive order alone, you were wrong - the Russians can do it just as effectively. Enter the "currency switch executive order":
It is interesting that in his interview, Moiseev mentioned a legal mechanism that can be described as "currency switch executive order”, telling that the government has the legal power to force Russian companies to trade a percentage of certain goods in rubles. Referring to the case when this level may be set to 100%, the Russian official said that "it's an extreme option and it is hard for me to tell right now how the government will use these powers".
Well, as long as the options exists.
But more importantly, none of what Russia is contemplating would have any practical chance of implementation if it weren't for other nations who would engage in USD-free bilateral trade relations. Such countries, however, do exist and it should come as a surprise to nobody that the two which have already stepped up are none other than China and Iran.
Of course, the success of Moscow's campaign to switch its trading to rubles or other regional currencies will depend on the willingness of its trading partners to get rid of the dollar. Sources cited by Politonline.ru mentioned two countries who would be willing to support Russia: Iran and China. Given that Vladimir Putin will visit Beijing on May 20, it can be speculated that the gas and oil contracts that are going to be signed between Russia and China will be denominated in rubles and yuan, not dollars.
In other words, in one week's time look for not only the announcement of the Russia-China "holy grail" gas agreement described previously here, but its financial terms, which now appears virtually certain will be settled exclusively in RUB and CNY. Not USD.
And as we have explained repeatedly in the past, the further the west antagonizes Russia, and the more economic sanctions it lobs at it, the more Russia will be forced away from a USD-denominated trading system and into one which faces China and India. Which is why next week's announcement, as groundbreaking as it most certainly will be, is just the beginning.
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Australia has a problem. Most of its recent growth has come from increased commodity exports to China. If Australia were to loose those markets, or if demand were to drop off (very likely) then Australia will be in a pickle.
Japan is an interesting basket case. Japanese firms have outsourced considerale production to China. The current level of antagonism over the Seppuku Islands has alread had a negative impact on Sino-Japanese trade. My hunch is that Japan hugs the USSA's coat tails for a very long period. The problem is that Japan is the sort of ally you may not want if the going gets tough. When all your friends are basket case nations and all the hot future growth markets are lining up against you then you are in for a world of hurt.
Watch New Zealand as well. Both Australia and NZ have massive property bubbles yet to pop.
The rate of inward migration into NZ at present will probably sustain the current real estate price levels in the medium term.
Aussie mineral exports might have fallen off a cliff but New Zealand primarily exports food, for which there is no lack of demand.
Yeah, I just can't help but think that it's going to be a real gut-check for these two.
Australia is pretty well linked to the US (mlitary connections pretty much means you get to share the same bed together). I see a slowing in China continuing to draw down Australia, but if the trade currency shifts can Australia just jump w/o having the US essentially detaching its connections? A "white" country adrift in a "brown/yellow" world...
The issues that Japan has with China, when things start to heat up internally I'm thinking that a resurgence of nationalism is going to cut the cord (such that is left) between the two. I don't know how much "support" there would be from the US side since Japan's manufacturing leverage is slipping and it's also not going to find it easy to buy its energy using USDs. Maybe the US exports oil (though it would be limited) along the lines that the USSR did to Cuba? It's the "island" curse things showing up again...
Someone else mentions New Zealand. Yeah, I would mention them but I'm kind of fond of NZ, for them never really looking to jump up on the world stage and do chest-puffing: I have a bit of a connection with livestock farmers, and since they're big down there...
Without a doubt we're going to see a big shake-up in how trade is done.
I don't have much for the AUS/NZ pair; but considering them as part of the "Five Eyes Security Alliance" with the UK/USA rounding out the roster. They're aka Five Eyed Fraudsters, Anglo-American Commonwealth, or the Masonic Alliance - may be prudent.
As for Japan, there exists some sort of a Paradox involved in its Foreign/Trade Policies looking forward. I'm a Post-War Reconciliationist of Sorts, having both Parents participate for their Countries in either side of WWII - while being a Vet who served in that Region during the Cold War.
The Peaceniks want the US Forces protection at all costs while disdaining their presence and misconduct of it Troops, appear to be content to be Colonies of the US/Catholic(with less than 1/2% of Xians - Jesuits cornered the Political Influence Peddling) Hegemon.
The Nationalists are split - some want to be "Junior Partners" (appendage, actually) to the US Forces (per Mr. Abe and the Asia Pivot Cultural Brainwashing Scheme that intensified recently); but others are fed up with the Colony/2nd Class Citizen treatment (especially at Trade Negotiations - People are starting to get pretty pissed).
Both know that the CHN-JPN Trade Volume surpassed the USA-JPN Trade Volume years ago. USA_Trade Reps, USA/Xian/VAT Vassals TWN, KOR, and PHL know this as well; and have engaged in steps to stymie CHN-JPN relations. TWN, the now-soon-to-be-obsolete intermediary btwn JPN and CHN Trade (along w/ Hong Kong; but the CHN turnover is finishing that play), is playing multiple faces here - USA, CHN, and JPN - playing one against another while backstabbing when appropriate. One can see this played out in SoCal, where Taiwanese treat the Japanese (and other Americans for that matter) VERY differently compared to how they behave in Japan (their Jig is up).
Ironically, TWN and KOR NEED JPN for their Defenses from their respective Adversaries. The first Korean War would have been lost if JPN wasn't available as a conquered Vassal-State (recall Inchon); and some delusional Asskissers from TWN embedded with JPN's (Liberal Democrats (LDP)) have submitted a televised strategy plan to have JPN help out TWN in case of an attack from CHN (Hence, the importance of taking up valuable land in Okinawa). Hegemon_USA wants Interoperability and a Cooperative Team of Vassals in that Region; but a growing number of South Koreans and Japanese are getting tired of their Forces' Dominant Presence.
Think I'm a Killjoy for the Neo-Conartists? How would you like it if Thugs, Thieves, and Rapists get sent back to the US to avoid Prosecution (80% Rate, last time I checked), or lose control of your OWN AIRSPACE over your OWN CAPITAL - and in case of a crash - the Crash Site - to the USA's Military? There's good reason why the Filipinos kicked out the US Military (aside from pumping up the Marcos' Accts) decades ago - after you've had your share of Military Police Duty watching Young Women coming for you for help from being sold to Sex Slavery by their own families in a Slum where Aid $$ (sent and managed properly - can't forget local corruption) could have been used to build roads and hospitals, you'd concur with their decision as well.
Better to be independent to seek out one nation's own prosperity - rather than being a slave selling trinkets and daughters to the Hegemon.
Back to the JPN. What happens when JPN's Economic Ties with CHN grows to the point it starts to conflict with USA's Hegemon and Containment Policies? Another round of Anti-Japan Demonstrations? Maybe; but that's played out, too - mostly CHN Merchants and Factory Workers suffered during the last round. I don't think they're going to put up with that much longer.
One thing for certain, Japan isn't going to be a loose Cannon. There will be Policy Reforms discussions; and hopefully, the People can decide for themselves w/o the Catholic/USA Hegemon Propagandists' misdirections (e.g., Gates' lecturing of JPN Leadership was all over the US News, where no one covered it in Japan - where was it held? At a Jesuit Run School).
The Trade Volume Gap already has more CHN Tourists and Merchants coming to Japan. The USA_Hegemon in the Pacific will not be enforced as planned(they don't like Big Brother, either); and the Containment Plans (against CHN and RUS - backed by IND, who trade heavily with both) may backfire if some NeoCon-Artist cooks up an UKR-esque_FUBAR'd stunt down the road.
And what a motley crew that is all going to be: Russia+China+Iran+India. I'm thinking that India is really going to blow apart soon...
The US and Canada (two of the world's top resource countries) will snuggle more tightly. Mexico is likely going to hold hands as well.
Europe is going to turn into a bunch of fiefdoms. History just never seems to stay in the closet...
Oh, and Australia? Oh my!
Anybody have a sense of what Brazil is thinking here? They are the "B" in BRICS after all. I haven't heard much about them in all this armchair global assessments.
Why would India follow whatever China does? They will be fighting over water in the future.
In your face, corrupt arrogant narcissistic lying illegal indonesian kenyan muslim ignoramus sociopathic fudge packer in chief..... har de har har har....
When are you party pussy clowns going to give it up?
POTUS is a puppet position. Read what Col Wilkerson has to say: http://www.zerohedge.com/contributed/2014-05-13/colonel-wilkerson-oligar... (not like I needed him to tell me what I already knew)
>> party pussy clowns going to give it up?
Not soon enough. Partisan garbage has made most every internet group tedious reading.
Clearly, I'm not against using harsh language, but when folks look for every opportunity to empty the box of shit in some name-calling barrage, well, it indicates folks who are actually unable to discern the message from the messenger and to contribute to a meaningful discussion.
Maybe I'm getting old, beard, it's just that some time there needs to be a firm display of intolerance for pure shit. Sometimes this is called for:
http://www.youtube.com/watch?v=Cs3XxEIG0d8
An ignore feature would be nice as they'd never display to tune out the likes of such.
Thank you so much. I hope they give it up soon.
can you believe the dollar topped 80 again for the first time in weeks? what kind of fantasy land is the Forex anyway?
the smart money is now yellow and silver, not green. if you do have savings, stocks or bonds cash out NOW with PM purchases while you still can.
Will Forex end up getting split up? If the likes of Russia, China and Iran and India do their own party then the USD would stop being measured against any of them (and still be the "best looking horse at the glue factory" [of the West only])?
yeah, that "unit of account" thingy is a hard habit to break, even for the "smart money" crowd.
We would settle for king of the forest right now.
How much trade is there between China and Russia? $8 billion is the figure I saw last.
Yeah Sangell,
This is obviously not good for Russia. They will lose a lot of trade and their economy will crater. But what can they do? Read the Wilkerson interview. The West promised Russia that NATO would not move East, that Russia one day would be part of NATO, etc.
The opposite happened. US is selling weapons to Poland, etc. US is incorporating former USSR satellites into NATO. The U.S. wants former Russian territory for itself, i.e., Crimea and Eastern Ukraine. It is like Russia arming Mexico and Russia causing Canada to disintegrate into groups loyal to it. No way the US would tolerate it. No way any self respectin power would tolerate it. So they are stuck. What are they to do?
What ever they do, if they suffer they will make us suffer as well. IF their suffering is intolerable then there will be war.
dp
Thanks for that. It was going to be my first question, if I can ever get through all these comments and make a post.
You got the 8 part right. Try $88.8 billion.
.
http://rt.com/business/157092-east-west-russia-trade/
Ruble-ize us, we will rubble-ize you
h/t to No Agenda podcast
Old Yeller, Old Yeller!?!?
Doesn't he go rabid and die at the end? Well, there's a bright Spot.
"Spot."
Well played.
You know, I've got a great dog and I just really am NOT looking forward to the day that it dies... REMINDER: Dogs are a great asset! (one of your first lines of defense- there's a pretty damn good reason why they call them "man's best friend"- they'll die for you)
My home security system is a German Shepherd. Great dog and integral part of the family.
Just don't call 911 if you want to keep the critter.
Spoiler alert, Ole Yeller dies at the end of the movie.
Does the dollar die much like Ole Yeller Yellen at the end of this movie?
already dead...
dont be fooled by the foaming at the mouth routine..
This movie ends slightly differently. The dollar Ole Yeller runs around rabid biting and infecting dozens of other currencies, so they all end up going insane and dying.
I cried when Ol Yeller died....
Everybody cried at the end of Old Yeller. I was blessed enough to have been traumatized by that f'n movie in the theater on a re-release.
150 kid all balling like crazy at the end - it was pretty amazing actually. Still pisses me off though - why would Disney do that to a bunch of kids? I'm surprised they didn't kill Santa and the Easter Bunny while they were at it just to twist the knife. . .
Might be because Disney was a satanic twisted fuck.
Wall St. Killed Santa first. And Fudd got the bunny...
Bambi was beautiful, until....
I think that that movie probably grossed more per second than any other in history!
Bambi meets Godzilla
https://search.yahoo.com/search?p=bambi+meets+godzilla+video&ei=UTF-8&fr...
They killed fucking Bambi's mother, Cit, ain't it enough? =)
If you really think about it, that may have been Disneys' only film that speaks any truth or has any connection with real life. Life can suck. People and things get sick, they DIE. It happens. That sucks but that is the nautre of the life we live, not the one we wish.. A good dose of reality is not a bad thing. Way too much coddling in our socienty. Not nearly enough truth speaking. My .02 cents.
There's actually a lot of old Disney stuff that's pretty grounded -- pretty much anything pre-1966 or so seems sane and normal. Family friendly, yes, but life with the hards spots left in. You can see them going off the rails starting with Walt's death, then going completely fucking nuts once Eisner took over.
Song Of The South
The Black Caldron
One was banned and one was edited/banned in original form.
Old Yeller was based on a book, Citxmech. They pretty much had to end it that way. Savage Sam was by the same author.
i am sick and twisted, i laughed when ole yeller died. oh the shame
u know, Silver is not only real money, but also an anti-bacterial agent...
just sayin....
silver is koo. gold hoarding on the other hand is probably an inherited anunaki genetic trait. gold is good for two things; industry and adorning women. silver is a fairly good competitive currency, but probably not as good as elbow grease or honey.
or filtered used veggie oil
(for runnin those diesel powered tractors)
PHUCK YA, lets get this reset party started!!!
CHANGE YOU CAN BELIEVE IN!!!
"If you want to keep your dolla, you cannot keep your dolla."
~ Vlad
War.
Currency wars lead to trade wars lead to hot wars....
Our old drunk italiano grandpa gerald celente was right
Now ya know why he drinks.
bartender, set em up, if you please
Has anyone else noticed how Celente sounds just like a very angry Larry Fine?
I have and he does! I love the guy, though. Like a mad prophet. I've wondered sometimes....is he on ZH? Bet he is...lurkin somehwere.
Your avatar kills me. When I read your posts I have Saul Goodman's voice in head narrating it for me. Weird.
Double post
It pisses me off how he starts off seemingly reasonable and then amps himself up until he's shouting. It's got to be deliberate; the pattern is too consistent. I'm not saying I don't agree with him, BTW.
He may be right, but I would rather open a vein than listen to him go on and on and on...........
This is not that world.
It doesn't have to be that.
Instead, Russia and Iran can announce they are keeping the oil for their grandchildren.
WTI will go to $200. Their enemies will be smashed.
And they won't fire a shot. In the meantime they have no foreign currency influx, but they do have oil, gasoline and food shipped to their people. What they'll lack are iPhones and DVDs.
I suspect they'll get used to that easier than the West gets used to no food.
I think they have some gold layin' around too
French wines and cheeses. Pizza for life from Italy.
I think the last thing they want is wti @200 europe will get hit hard. But who knows
Edit
Unless they want to force europe into rubles for oil then they might have some ting
Europe is an enemy of Russia.
If Europe wants oil at less than $200, they can contract with Russia at $150, provided the contract also stipulates no spending on military equipment or personnel. If fact, some of the equipment already in the inventory will have to be shipped to Russia.
All part of the deal.
Not sure Vlad would get a boner over European Military gear, assuming there was such gear, but ok. Maybe some fine Polish horses? I know he digs riding horse, so theres that.
maybe for target practice.
The point is not to have it.
It's to disarm the enemy.
Oh, I get your point...lima charlie. I just think Vlad strikes me as the sporting type.
Europeans know all about eating horsemeat. And the Germans in particular considered horsemeat a delicacy during their sojourn at Stalingrad.
The French, walking home from St. Petersburg in winter, would cut strips of horse flesh from their living horses. The horses were so cold they didn't bleed and didn't feel it.
"If fact, some of the equipment already in the inventory will have to be shipped to Russia."
I'm not sure the Russians would dig the French Leclerc MBT. I have been told they have more gears in reverse than forward....
Any country that had to live through the deprivation of WWII will have no problem living without iShit.
Particularly if that country hosted WWII.
With all due respect, the people who were deprived during WWII are almost all dead. Any nation that tries to intentionally deprive its people (i.e., austerity) will face revolution. JMHO.
Not that I'm selling/pimping the US and Canada, but these two countries have just as many resources, if not more, than Russia and Iran (and China). Any trade war will essentially allow the US to default on its debts: and, really, who is going to come to the US to collect? (I don't think that Russia or China is going to be so silly to attempt it.)
The US and Canada STILL produce a lot of food.
US imports 7 mbpd. A good chunk of that is from Canada, about 2.
Iran exports are about 2 mbpd and Russian is 6 mbpd.
Europe has nowhere to go to get that 8, given that China soaks up 5 and Japan soaks up 5.
The price is going to go through the roof, and the US will have trouble transporting food to cities.
Of course, then all economic activity is smashed, and consumption with it, so the absence of that 8 mbpd no longer kills, but quite a few will die getting to that lower level.
A further little ugly thing is the US shale fields are heavily truck dependent, and diesel is going to get rationed to pushing food into cities. So US shale production will fall.
I don't think you can give a big FU to the Rothchilds without consequence, there will be plenty of shots fired. You can bet yout ass that the MIC, Homeland, FEMA and the IRS will be given all available resources to confiscate anything of value and/or deemed necessary for national security.
KickIce
To quote someone around here, "That lock on my door isn't for my safety, asshole, it's for yours."
It's certainly coming to that, our government has become an insatiable beast and will consume everything available to keep alive to say nothing of the FSA if EBT cards ever go belly up.
Those are words of War....... oh wait.
Doesn't matter. Yellen like a felon can just print up the money that .gov needs to care for us all.
Too bad they haven't figured out how to print prosperity. Argentina here we come.
No, it means dumped dollars and hyperinflation. Printing becomes impossible.
not good .... not good at all
Look on the bright side of life!
http://www.youtube.com/watch?v=jHPOzQzk9Qo
Move to PUCKER FACTOR 5!
surely, this will send the markets soaring.
Forget BTFD. Time to Buy The All Time Fucking High!
That's what that drug dealer told me...
Yeh they bring dollars in tupperware and walk away with gold
With every day, I am getting more and more nervous about waiting for one last drop to buy even more gold....
I'd love to go to a double-D meeting
Bob had bitch tits.
So it seems that the shitheads trying to run "Merica into the ground are getting what they wanted....why else would all of this shitheadedness be occurring? The dollar is dying and it seems most people want it this way...we still need to see what side will win: EAST v WEST. Bunch evil bastards none of us know doing EVERYTHING on purpose to establish the NWO which has no place for the USD.
The dollar is but a means to and end. As for them wanting it that way, they are well aware of Mises's warning about the impossibility of escaping the ramifications of a credit-fueled crack-up boom. Either they stop the boom and allow the bust, or they continue on until the currency is destroyed.
Given who wins and who suffers in scenario, there's little surprise as to what the choice will be.
NotApplicable - Someone que up the ZH link where the IMF stated the Yuan is the defacto reserve currency.
I said here for years that the Yuan becoming the currency was a feature not a bug. I don't need vanity points. I'll tell you something else. America will revolt and the banking overlords will use proxy to EMP America. Lights out! All the federal and state agencies will have power and food. Afterward, people will come begging to the government. Russia is looking after its own interest. There is a game within a game here but I don't wish to offer up theory at this time. I am pro no governnent right now. In these times betrayels between nations happens.
I believe a couple things:
1) America will have it's Republic back
2) A lot of people globally will get killed before this happens but likely more in America first.
3) Americans as a citizenship will not deserve what I feel is coming.
That is irrelevant to the patterns of evolution, predators and prey. Hedge accordingly.
You may be right. Scary -the scariest part is you may be right except for No. 1- - we may all end up dead or enslaved. I will go down in the fight if that is my only option- I only require that a sufficient number of brave patriots join me. Even if it's just 10% of the population , that should be enough.
We're already enslaved...
"I'll tell you something else. America will revolt and the banking overlords will use proxy to EMP America. Lights out!"
EMP Attack On Power Grid Could Kill 9-In-10 Americans
http://news.investors.com/ibd-editorials/050914-700375-electric-grid-vulnerable-to-emp-attack.htm
ZH folks need a secret handshake.....that way I will know who to hand out beans to.
we are the ones not asking for them.
we either have them
we grow them
will buy them in gold or trade
or shoot you for em, if'n you was the type that didnt buy the bullets with ur beans.
if we need a password...i say "fuck yellen" or Bitchez works in a pinch
I might need to tone it down for now. Some rich sport getting ready to drop $11k on a new gun, may not get me the response I was hoping for. I'll just stick to "What is the square root of stupid?" until shit hits the fan. If you hear that, you know it's me.
Anyone know where I can pick up an 8# keg of Ramshot Magnum? Ammo is scarce even for us.
Well, I got the garden rolling so I guess you are right. That was the last piece of the puzzle for me in my College of Collapse Preparedness. Actually, I need to get my solar generator too, but that comes when my taxes get back to me.
In the crack up boom, they'll print into oblivion claiming national security against Russia then blame Russia for dumping and subsequently killing the dollar. Neglecting to tell the public that decades of banker greed and Washington DC's team of politicians and military contractor's mission for global hegemony caused the problem in the first place. Washington DC is essentially as bad as Hitler was to Germany. History is rhyming big time.
Agree, many similarities to Germany post treaty of Versailles. Things did not go well, history repeats. Banks are root cause of all evil.
Foster - I disagree. Hyperinflation means the end of US-bank-owned control. But I agree that if US is taken down it will be blamed on another nation like Russia. Who knows? Perhaps the Russians will be a willing instrument of destruction.
Exactly, and that's why allowing the global trade system to be detonated in a financial war allows an escape from outside pressure/debt. TPTB are always most fearful of those closest to them- and sooner or later you're going to have to give in to the homies (I figure the Fed will swallow a ton of debt as athe bankers finally "give back" to save their asses from their local countrymen). And, really, given all the options (what, two?) this is really the best one (pick "rock" or "hard place").
Let them eat cake! Cake for all!
Not East versus West, but more like Manufacturing & Commodity Sociopathic Slave States on one side... Versus -Sociopathic Banking Cartel -Ponzi Finance -Consuming Debt Slave States on the other side. Normally, it wouldn't be too hard to determine who has the stronger hand, but in this case, both sides have huge armies and nukes so this won't end well for anyone.
I tend to measure things in terms of how a given country looks in isolationist form. Only three countries would appear to be able to somewhat manage that way: Canada, Russia and the US; I give slightly more weight to Canada and the US because they don't have the border pressures that Russia has.
"i will not be ignored..."
The United States of Food Stamps
There's no more America or Europe anymore.
mBetter call it "the western world on foodstamps"
Another fucking meeting on doing the obvious. Yawn.
Not sure why the down-votes. It is, as you note, all pretty obvious. This will reform regionally. Trade partners will shift to match.
Good luck with that. However, wishing does not make it so. Apparently they are oblivious to the fact that nobody wants the Ruble because it's a shitty currency tied to a shitty economy led by a shitty, corrupt dictator.
Not to suggest that the dollar is invincible, just that it sure as hell won't be the Ruble that begins to replace it.
What, you don't want to collect a paycheck backed by rubles?
Replace it? $ ? If history of fiat is taken into consideration, any roll of 4 ply will be preferred.
rouble could well outlast $..
It will be Bitcoin
zippie - i haven't heard much about bitcoin lately. is it still 'on'? miners humming away?
what about that satoshi guy? was it really the guy they found. i'm fascinated, it's amazing how quickly it all just disappeared.
I've heard about bitcoin today on RT (Kaiser Report).
Just for the record.
That's a good one! hahaha
Being overrun by emotions tends to make for some rather shaky decisions.
There's little doubt that Russia and China will form a closer relationship. What would be their need to bring in the USD to transact between themselves?
As noted by another, fiat is even worse than TP. USD's shelf life is past, let alone it maintaining the mantle of "world's reserve currency." No amount of talking about how bad something else is will change that fact.
I doubt that there's going to be another "world's reserve currency," as this East/West split is going to be pretty harsh.
USD(eathknell). Alan, Ben, Yeller, FED, etc.. We here at ZH would like to wish you a hearty 'Fuck You'! Sincerely.
Okay... I know the following step for America against Russia...
Cut of the internet and cripple the economy.
studnex? what is the name of that virus?
At some point you have to wonder whether it's all that predictable on how systems managing nuclear stuff is going to react. I could see things going really badly here...
You play Russian roulette this way dear Obama...
Are you not paying attention? This is under the control of TPTB, POTUS merely works for them. The more we allow this sort of view to permeate the longer we'll continue to be stymied by TPTB.
Puppet or not, he's still a cocksucker.
"Iran willing to drop USD from trade", ehhh?
Oh no you dit-unt.
Get the rope, find that spiderhole, string him up with dignituh!
;) How much gold they gots? And just in time, too.
Uncle Sugar just said "Scorched Earth Mother Fuckers".
Actually, I think it presents the perfect opportunity to feign war and terminate any debts owed to the likes of China, Russia and Iran (though not sure if there's really anything there with Iran).
Remember: the debts cannot be repaid, they either get defaulted on (the US never "defaults"- it'll use the cover of "war" to justify this action) or they get forgiven, and I very much doubt that the creditors are going to roll over and say "OK."
Europeans, Japanese and Australians better have a plan on what they intend to do when things get completely turned upside down on them...
Japan and Austrialia can swear fealty to China. Europe is fucked.
AN ANGEL OF THE LORD NAMED BIFF APPEARED TO ME IN 2009. BEHOLD THIS IS HOW IT COMES TO PASS. BIFF HAS UNVIELED THE 16TH SCROLL. THIS IS HOW THE END OF THE WORLD BEGINS AND THIS IS WHY MY DISCIPLES ARE DIGGING AS FAST WE CAN TO START THE CITY OF ZION IN THE MIDDLE OF THE EARTH. JOIN ME MY BROTHERS FOR I AM A PROPHET OF GOD. EMAIL ME TO HELP JESUSGUY179@YAHOO.COM TO LEARN MORE
come again?
His name was Biff? Kinda surfer sounding, but ok. I'm partial to Michael, but Biff's cool too. Shame Biff didn't come to you in...say...2005 or 2006, but I'm no AOTL, so who am i to split hairs over timing?
And has the molten material you'd be sharing the same space with been taken into account in New Zion?
Just a few questions.
Was his last name Tannen?
Henderson, as in:
http://www.nydailynews.com/entertainment/tv-movies/late-show-biff-hender...
Back to the Future, he might be on to something, or just on something...
You do not look or talk like Karl Denninger. What, you don't like the script of Revelations? It is better if someone like you does not. Where is Shakespear when you need him?
Sure, the dollar is a joke, but trading in US Foodstamps has enormous potential.
This is the way TPTB, intentionally, destroy America and Americans.
Yeah, because nothing ensure stability of the status quo more than destroying that which maintains your power.
Come on, people! Use some logic here.
ALL empires collapse. It was going to happen no matter what. The US has the opportunity to dodge a shitload of debt here with the likes of Russia and China by declaring war (which will only amount to trade sanctions).
The is no "out." History proves that. Either debt gets repaid (impossible) or it gets defaulted on ("forgiven" is highly unlikely).
Willingness of trading partners?
What if Russia says we no longer accept dollars for gas?
It is not that Putin has so many chess peices. It is that he knows how to play position on the board.
...and he knows how to slap around a prissy queen....
Angela is looking around for the ruble piggy bank as Putin reaches for the next chess piece. Where did I put that thing anyway?
Ultimately, as the game plays out, the US STILL has a large majority of the world's resources (and key being crop land). Putin, though likely understanding the pieces available, has little control over things (read the ZH piece with Col Wilkerson); much is really a no-brainer, a logical extention of things (Europe is dead-ass broke so the export market there is a dead-man-walking; pretty much leaves only China and India, and, possibly Australia (I think it'll be most interesting to see how Japan and Australia work the big re-shuffle).
When tensions build back up along Russia's edges they'll have their hands full. The US need only worry about Canada and Mexico, two contries that are almost certainly going to stay aligned with the US: US + Canada combined represent a huge portion of the world's resources.
but I can say as a Canadian I don't want US vampires leeching off us.
I think we should produce more for ourselves & stop them from taking over our land by any means because I know that day is coming.
A lot of Canadians know that day is coming. (I live in Canada too.) The culture of political 'support' here tends to be soft at best. In guessing which way Canada goes, I'd look away from the current Prime Minister (Harper, who is loathed), and at the probable incoming PM, Justin Trudeau.
Trudeau has his mother's looks and with any luck, his father's brains. Even if he has his mother's brains, he still has to build up a lot of popular support. (He's even riding on Dubya's old campaign horse: "Justin Trudeau wants to have a beer with you", I kid you not.) If President Barky thinks Canadian pollies will join him in pissing off the rest of the world, and will happily send water and resources his way for a near-worthless currency, he had better find a way to make that attractive to Canadian voters. Looking bellicose in front of the rest of the world and running into war is not something most Canadians will support for long if at all.
If he tries to force Canadians to support the US through his usual fear and war-mongering, then I doubt the Canadians will co-operate. Harper is toast, in part due to this Ukraine fiasco. If "America" has an idealistic streak, "Canada" has a very pragmatic one. Any support for the status quo from here in my humble opinion will be soft and half-hearted at best, and probably won't last long. Just one observer's opinion!