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China Halts US Dollar Transactions With Afghan Banks
The de-dollarization escalates. As Reuters reports, Chinese banks have halted dollar transactions with most Afghan commercial banks. Whether this is related to the terrorist operations in the Muslim-dominated Uighur region is unclear... also unclear is whether the Chinese banks will accept transactions with Afghan banks in CNY?
Chinese banks have halted dollar transactions with most Afghan commercial banks, the central bank governor said on Thursday, making it difficult for businesses to pay for imports with one of the Afghanistan's biggest trading partners.
"China is a major country that was handling those bank transfers, and now they have told the banks they can't do it," governor Noorullah Delawari told Reuters.
The impact on business had been felt immediately, he said.
De-Dollarization or Anti-Terrorist action? The official story is as follows:
The Chinese move was part of the trend in which it was increasingly difficult for Afghanistan's commercial banks to execute international transactions, Delawari said. "Some of our banks cannot do any direct transactions because their correspondent banks in the U.S., Europe, Germany, or Turkey (have halted transactions)," he said.
"Now even transferring money to China to import goods has been affected."
The Afghan government's failure to pass key measures means that it could in June be blacklisted by Financial Action Task Force (FATF), an international body that sets standards on how countries combat money laundering.
Banks have been struggling since FATF threatened Afganistan with the blacklist early this year.
"That has been affecting our banks ability to transfer money for anything," Delawari said, describing how students abroad were unable to receive money from there parents as an example.
Chinese banks and officials were not immediately available for comment.
Because, apparently, now even the Chinese banks are suddenly very concerned about money laundering compliance. In the meantime, Afghanistan: meet gold.
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DE-DOLLARIZATION pickin'up momentum bitchez! Our fearless leaders are absolutely brilliant...
Satoshi we are coming!
Repudiation of the digi-dollar. Its on like Wangy Dong
opiumcurrency
Move over #PetroYuan ... Hello #OpiumYuan
Keep stacking... It's getting closer by the day...
Well, yes, keep stacking... and pray the BIS to compensate everything with the paper scam as long as needed until it all crashes down.
If you stack to flip for currency, you're fucked. If you stack because it's money that will outlast 'money', well then you're gonna be alright.
To my knowledge, there are not too many UIGHURS in Afghanistan. Muslims yes, but Uighurs (I think) are more-or-less "Eastern Turks".
Do correct me if I am wrong, I am here to learn too.
***
(I have some Satoshis coming via "mail order')
China vs the CIA
WW3 has now started.
The West is salivating at the prospects. Ordo ab Chao and all
Been going on for a while, although if you ask the average citizen all you would get is a blank stare in return...
Shutting down the dollar the Chinese way...drip...drip...drip.
Death by 1000 cuts...
My money is on China. True it's the CIA but they have shown to be astronomical fuck ups and in China, well if you fuck up you die. So China has the better incentive.
The west often forgets that China has been around for thousands of years, long before the west was conceived. They are patient and ruthless. The west is naive at best.
Hell yeah, dawg! Ize be stacken dem bitcoinz niggaz!
BTC users would do well to cut the fucking speculative hype already and start building businesses (not involving BTC "miners") which accept BTC as payment... Maybe then the price wouldn't fluctuate +/- 100% every year.
That won't happen and gh0atrider is still bullish on BTC. Consider that BTC is still a tiny market, and that it's a currency with the exact opposite properties of government fiat. Government fiat is negative, debt-based currency. BTC is positive, non-debt based currency. So any attempts to price this tiny market in government fiat is going to appear to be all over the place. Bitcoin itself is very stable and predictable.
It ain't going to be bitcoin as the long term winner. Bitcoin is fast becoming obsolete in terms of technology for blockchains and hashing algorithms. The technology has already moved beyond bitcoin's implementation of the blockchain and the rest of the herd is just starting to catch up to it. Bitcoin opened the door but it is off to the races now and that horse is lagging in the tech arms race and over time will lose more and more market share. Block chains and crypto-currencies in general have bright future just bitcoin is limited like mp3.
De-dollarization or anti-terrorism?
Doesn't the former lend itself to the latter?
Isn't de-dollarization needed to stop money laundering? Er, I mean, currency laundering.
And with it, to stop funding terra-rists? ;-) ;-)
Spot on sir, the most important point. Anyone outside the US using US dollars for trade is aiding and abbetting terrorism on a world-wide scale, paying for their own enslavement, and eventual murder.
They may be your "leaders, " but they are not mine.
...USSA/Pres Halfrobama's Urghu CIA False Flag event backfires....again...and again and again.
Ongoing batting average?.....0% for Americans
If at first your false flags don't succeed, try try again.
Or just declare 500,000 acres of border territory as a national monument, then forbid patrolling of the corridor.
I understand the macro overall consequences of this "de-dollarization" conversation, but I'm still looking for the micro signs that the FED is getting scared or effected by all this??
If someone could explain, what "we" (ZHers) should be looking for as this halt continues in dollar transaction usage? (And War is the obvious answer, but I'm talking economically or in the mechanics of the American economy)
Motherfucker, war is the answer!
https://www.youtube.com/watch?v=WcEPdTy7_uE
Look for Belgium to increase its suddenly huge appetite for US Treasuries. When it becomes obvious that absolutely nobody is buying Treasuries except for the Fed and its operatives, plus annuities or others who have no choice, then everybody will look to exit the USD.
That is actually already upon us, but the question becomes, "What to?" That is why the race is on for practical alternative mechanisms for international trade. I expect non-paper gold will be an anchor of some sort within this system.
As for the American economy, it becomes much poorer and stay that way until businesses get some reassurance their assets/profits won't be confiscated to help pay down government debts.
Rickards gave 7 warning signs of the collapse in the last chapter of his new book, The Death of Money.
We Chinese, we play joke, we don't want your federal reserve notes...
Our fearless leaders are absolutely brilliant...
These idiots don't even understand the ramifications that this has for the Fascist States of Amerika!!
Green Back = Green Backside. Stripe the ole arse.
So many Ruahhh Roahhhss, so little time....the time for preparation is almost over...I am giddy with butterflys in my stomach
"De-Dollarization or Anti-Terrorist action?"
Same, same.
Ha fuckin' HA!
Any word from odumbo?
???
Yeah! Today's Odumbo report says he shot a 45 on the back nine. Had to pay his opponent, Ho En Wan, off in Bitcoin. US dollar evidently no longer being accepted in skins games with Chinese opponents.
Fate the Magnificent
"Push the Button, Max"
i guess this too is bullish for US stocks?
YES! MORE DOLLARS FOR EVERYBODY ELSE!!
Belgium will happily pick up those dollars.
follow the us dollar trail to the terrorist
"follow the us dollar trail to the terrorist"
Easy, FedRes to DC.
The greatest impetus for de-dollarization is the Federal Reserve itself.
HEROIN NOW TRADED IN YUAN!!!
WOW!!
THIS IS THE BIGGEST DEAL IN THE LAST DECADE!!
so will the CIA now also trade in yuan?
Everyone can make all the jokes they want but crypto-currency is going to benefit because of just that reason. There is only one piece of the puzzle in crypto-currencies missing that makes it completely unblockable. Convertability is another story though.
What if war or earthquakes break telco cables and you can trade your crpyto currencies? Sure they'll be repaired eventually but are you going to sit around and wait for them to be repaired?
Who said anything about using telco cables... And who said anything about centralized exchanges...
Your smoke signals gonna transmit?
Right.... Today a coworker is stating his exchange is showing him having 80+ more bitcoins then what he really has. Apparently this is a simple miscalculation on the exchange part. If the exchanges can't balance your wallet properly why in the hell would someone want them to be the world currency? It has been funny as hell making him mad though :)
Wow, that's a $41,270 error in your friend's favor. Cash out fast!! Now that's arbitrage.
Convertability IS the story, if it isn't convertable to the local script in large enough amounts, due to that countries legalities, or an outright banning of it, it's nothing more than a fad
Value is a subjective thing though. Things that tend to have real value tend to stick around even when tptb ban things. The value is in the versitality of the technology and it's trust no one until verification approach, the crypto-currency aspect is only one piece of it. If am some organization that has reach into many places and don't want to carry anything of value with me from point a to point b but have stores in those places this sort of thing allows to keep track of movement and allocation of resources in various locations. It is a ledger first and foremost and a ledger that even if you got access to wouldn't have the decryption key since it is not encoded into the network what each 'coin' is representative of.
Don't complicate it...
There is merit to the "transportability" aspect.
But once transported, needs to be converted to pay suppliers etc. IF they dont accept the coins
In a perfect Satoshi world everyone has a flashdrive plug-transact-go...ok, on to the final "enduser" that needs to buy food and pay rent. thats where this locks up. Its usable in small amounts as the "script amount" is minimal and hasn't been outlawed yet.
When bitcoin is accepted at my mortgage co as payment i'll be so onboard with this it will make Fonestar look like an amature.
Glad to be drawn in on another bitcoin debate...
Don't wear horse blinders either and miss the forest for the trees.
A ledger can also serve as a decentralized encrypted inventory control system also with no public decryption key. It is end to end encrypted with no way to ascertain the key unless you hack the endpoints. It doesn't matter if you penetrate the middle points.
sigh..
Unpenetrable..got it
But if i had bitcoins i cant buy horses, blinders, or trees..
and those manufacturers cant buy feed, leather, or land see where I'm going?
Not fucking with you, make me a believer
What is bit coin? What IS crypto-currency? Don't tell me money either. That is only seeing a tree and not the forest. It is only one representation of what it IS. It is just a symbolic name nothing more. With that said value like everything else since we assign meaning to value is symbolic. You are stuck on worshipping the symbolism of it not what it IS.
It is a technical ledger. It keeps track of shit. The value and meaning you put to what is keeping track of doesn't change that fact.
With that said you can represent infinitely large things with infinitely small numbers take bitcoin for example right now you can divide a single coin up to 8 decimal places. Messenging system it is combinatoric problem how many possible combinations can you have. I can send a bitcoin from me to you and they have figure out the right combination to decrypt and if you double encrypt even if the happen to guess the first combination it is that^2. You understand you can create sufficiently large keys that the quantum computers can't decrypt in a timely manner where there is no public key for starters and not only that you can ad-hoc it and not need access to the whole block chain at any given time since it is irrelevant to a one to one communication anywhere in the network. Implemented correctly the NSA and everyone else in mass surveillance can go and lick your taint. They can know the addresses even know what moved where but there is never public decryption key in the movements.
Now to your example we can keep track of who traded what and how many and even if you want to get more technical $ value of each also encrypted in the same manner though that is what the decentralized exchanges are trying to implement which basically each coin is a fancy hash table with arrays and bucket values encoded in each coin.
That you can use anywhere in an ad-hoc manner with lower power devices on a local level that are isolated from the larger network except when you tie them in to update the ledger or not since they can function independently of the whole block chain if you are not going to use currency as a convertable representation of value of what is encoded into the coin.
We haven't even scratched the surface on the hardware end of tihs yet and how open source electronics and 3D printers over time as the costs come down to for people to manufacture right from their computers in their house is going to break the stranglehold on the backdooring of chips in cellphones for example through open source manufacturing designs people can build operating languages from and also in turn take back control of devices like control of access to the antenna on any wireless device.
Absolutely agree on the efficiency aspect.
Gold/silver thats in hand are the same thing.
I'm hoping for all bitcoiners that millions more folks and buisnesses do adopt it..and so will I.
I'm with you guys...fuck the middleman
Thanks
+ 1000, DCH
Think of it this way the block chain is basically used to first time 2 address converse to synch up the initial decryption keys using the same algorithm locally. Then from there on in depending size and number of transmissions the keys rotate. A coin is a coin is a coin is a coin is a... you get the idea. The point is you taking repeatable noise that is natural to the system and doing nothing to it as opposed to turning something into noise that is not natural for the system. You do it right you only need the block chain to synch the addresses periodically and every address after their initial connection will use a different set on initial keys and rotate with never the same 2 keys being used at the same time between any 2 addresses now matter how many times you recycle them. You could know all the keys but you need to know which key is for which sequence between any 2 clients at any given time. You can also create a way to keep from spoofed addresses if they aren't synched to get the current key in the sequence through a trust no one approach.
It should be efficient doesn't require much bandwidth if implemented correctly since you don't need to whole block chain to communicate if the 2 addresses are already in synch and even if they aren't it should decode to jibberish anyways until it can be verified that address isn't spoofed.
Dark Wallet - in alpha testing right now... an add-on to Bitcoin to give true anonymity... and the Bitcoin core is being extended to operate over Tor and/or I2p ... to be unblockable at the network level.
Is that enough to be your missing piece?
No doubt as we speak, they are setting up a Yuan counterfeiting operation...
Setting up? More like getting ready to turn the presses up 11.
Heroin and Hashish are the national currencies in Afghanistan.
Perhaps the Chinese will become the new suppliers to the world (pushing out the CIA), by trading yuan for hash. And selling that to Americans/westerners to f*** themselves up even more. Oh what fun...
Will the last person dropping the dollar please turn off the light?!
Won't be me. I dropped it years ago. I only sell enough silver to keep the lights on and beer in the frig
Yup, cash, barter and PM is the way to go. Parallel Economy, w/o the Central Planners or the 'Central Scrutinizers'.
"This.....is......The Central Scrotenizer..."
zappa out
+1 for the Joe's Garage reference!
Both and probably a pain in the ass for the drug trade also.
Shit gets real though when Kazakhstan drops the USD for bilateral trade purposes and goes to direct currency swaps with everyone except with the US.
The drug trade can divest/accept anything of value way eaiser than people or countries can
i halted my dollar related transactions years ago...
all but the ones in which ive been converting debt coupon dollars into real money...
China- where u at....
Hhmmm, there certainly are a lot of people standing in front of that dollar bus coming down the street...
I wonder how everyone is going to feel about tiny tim's book soon.
Retribution motherfuckers...
Strange how the fuckers that deserve the retribution never get it.
A situation that hopfully will be different this time...
BUILD a guillotine
Great response...
http://www.instructables.com/id/Full-Scale-1792-Guillotine-1/
Start with a List. Check it once, check it twice, to see who's been naughty and nice.
Include: Banksters, Wall St gangstas, traitorous Ploticians and CEOs (esp. those double double citizenship from the ME), DC lobbyists, purveyors of filth & propaganda, etc. Include Local scum, not just the National scum. Pull an "NSA" on TPTB: Gather info, intel, evidence. To be brought out asl legal/judicial evidence when the Constitution, Bill of Rights and the Four Freedoms are restored and actually adhered to. That should keep bloggers busy and give them a worthwhile mission, rather than just posting witty remarks or surfing for porn.
"A new broom sweeps clean"
My list is short. When Jon Corzine's head is rolling on the TV I will sit back and call "mission accomplished". Since my list is short and compete,, I will now return to my regularly scheduled porn.
I thought terrorist and drug dealers, ONLY used Bitcoin.
And so it begins.....
Gray Highlighted in 3..2..1
I feel bad for the sheeple who don't get told enough info from TV to connect the dots. Those that have been getting the news, and see the predicted de-dollarization trend in full force, but stay in denial will get what they deserve. One way or the other, no matter how much people don't like it, it is going to be a global currency that no one can print and everyone accepts that will be the last thing standing. A childish intervention using changes nothing. There has never been a doubt about where this is headed.
The Bible said as much......
My compassion for the sheeple is at an all time low....society needs a good cleansing......
Somehow your second sentence doesn't lend much credence to the first.
I'm not Jesus....
Me neither, just deer hunting with him.
If people won't like the Change to a world currency, they are sure as shit going to hate the death and destruction leading up to it.
They don't like it already. It will be gold. All the other suggestions about SDRs and other paper are nonsense. They imply trust and are just more fiat.
Rickards says that the SDR may work well. For a while.
Gold will be standing when the others fall...
For "Ordo ab Chaos" to come about for the NWO Globalists, they first need Chaos. Clearly they are ramping up for providing and funding Chaos, so they can march in with the "Solution for Peace" -- and appear as heroes, rather than as the sociopathic villains that they are.
Their faces, methods and tactics may change, but not their Strategic Intent and Goals: World Government via a world currency, the SDR. Note that the SDR is (currently) composed of the USD, Euro, Yen and Pound. Need we say more?
When do we get the 10 billion FRN?
When you buy the giant size box of Cracker Jacks there will be one inside.
I was recently at the Smithstonian...at the money exhibit. They had a 100,000$ bill. Maybe we will soon see them outside of a museum, haha.
I thought it was all bits and bytes and how do they know they are USD or CNY?
Dollar must be terrorist currency...
The fed should be thanking China for doing this because this will cause the inflation that will somehow fix everything. One must understand that inflation has 2 components: the amount of money that exists (M1, M2, M3) and how often that money is changes hands (money velocity). When dollars have some utility, people hoard them. Dollars sit in bank accounts as ones and zeros or dollars can exist as paper money next to a pile of heroin in some cave. If the dollars can no longer be used as money, the people holding those dollars will trade them for something that can be used for money. This puts the dollars back into circulation. Even though the supply of money has not increased, inflation will occur because the money velocity has increased.
"... dollars can exist as paper money next to a pile of heroin in some cave. "
Not too distant a reality for many of us. Whatever it takes to avoid lining up at the deuce-and-a-half for Fed cheesefood in the local Walmart parking lot.
And if you think that's not coming, wait.
Hmmm, the velocity of my fiats has been increasing-- into PMs and Miners.
Have to stage a show so the US can jump in and slap them down.
What is this crap? $1,000 per month??
LOL, killing the US Federal Reserve and banksters with ever-increasing rejection of dollars.
The BRICS vs the US Federal Reserve/IMF banksters.
This should be fun as people jump on the bandwagon to crush the dollar.
Even the US Federal Reserve is working to crush the dollar and cause major inflation. They'll get help in earnest with China and Russia.
To me, the surprise is that anyone pays _any_ currency _into_ an Afghan bank.
Why is that? Do you think BoA or DB are more solvent? Or honest for that matter.
" ...also unclear is whether the Chinese banks will accept transactions with Afghan banks in CNY?"
That's a statement, not a question, and should not have a question mark.
I have RT on live. They are hammering the dollar, and that Russia, China and Iran want Nothing to do with the Fed....
Well what ever happens to money will be only temporary
after the chaos the money system will be digital and universal
It will be based on credits and will be transacted via chip in hand
welcome to the NWO
IMHO. Our US military will kick in. After bullets rain down, these people will seek refuge in a small tribal community to rebuild the global ideology
our military involvement might go very wrong
could be a limited exchange with a casualty cost too high
and it might not be Russia backing down
US has no stomache for another war
after this, dollar chaos
With all the domestic war preps I am not sure they care if the serfs have had enough of foreign wars. That may be the reason that Barry promised and is delivering on the domestic force as large and well funded as the US military.
PMs: Weapons of Mass Monetary Freedomz
Where is the "Too the moon!" guy to leave the comment that includes the "B" word? Or maybe it's time for "Stancoin" (Bitcoin for all the countries with names ending in "stan").
China will only accept precious metals, gemstones and carpets from Afghanistan from now on...
Now these actions couldn't possibly be directly related to this now... Could it?
Nahhhh! Just another coincidental related "happening" of course!
So when exactly will we be witnessing the asymmetric possibilities over-ripe and beyond justified I might add coming from Russia and China?...
Grease the wheelbarrow wheels.
Buying a cup of coffee at starbucks.
http://3.bp.blogspot.com/_WmgmHIT32i4/RvNzuGhxcCI/AAAAAAAAAJI/4SLopp9cHj...
"Grease the wheelbarrow wheels."...
If you're FBI/CIA/Blackwater/Xi/Academi...
You've already been greased up bent over and bungholed by "Johnny Wad"... And knowing the absolute level of our stupidity they will no doubt be going back to the buffet table for seconds!
But hagel says " a new world order is being created." It didnt work the first time so they think it will this time, except this time the nazis are their allies.
the writ of the us imperium seems to be on the decline in that part of the world!
I think there is more to the gas deal between china and russia as to the price, quantity and length of the contract. i reckon a number of conditions have been agreed for this 30 year contract, and one of them is to start de-dollarising.
Imagine the biggest exporter in the world starting to impose restrictions on accepting US dollars for trade? holy shit......
It's looking like the dollar is having the same amount of appeal as a piece of fresh dog shit....
De-Dollarization or Anti-Terrorist action?
no
De-Dollarization is Anti-Terrorist action?
soros,rothschild think tanks
freedom institutes
all cia dollared funded init.
I think the Taliban knows about gold. Army tells soldiers fighting in Afghanistan to buy off Taliban 'with bags of gold'
http://www.dailymail.co.uk/news/article-1228480/Army-tells-soldiers-figh...
Fed's Balance sheet to 20 Trillion!!!!!
Some say it's already passed that and beyond as in troubled times, illuions filled with delusion are harder to maintain.
Meanwhile: en.ria.ru/russia/20140520/189968566/Russia-China-Plan-to-Expand-Payments-in-National-Currencies.html
“The sides intend to take new steps to increase the level and expansion of spheres of Russian-Chinese practical cooperation, in particular to establish close cooperation in the financial sphere, including an increase in direct payments in the Russian and Chinese national currencies in trade, investments and loan services,” the statement said.
funny how this article did not mention the recent bombings and instability in xinjiang.
Look better on the picture and on the map.
put it into the context of what you are saying.
read the yesterday's news.
and we are at home!!!!!.
I smell U.S. Dollars and drug money which is linked to terrorists.The Chinese are cutting off the funding.Our radicals from Afgan-Land and extremist Sunnis funded by the war on drugs cartel is starting to move into China.
Who cares what Pipelandistan does? Unless your into Heroin. EFFECTIVE IMEDIATELY I will no longer trade Yaun's with my local bank. Their that will teach them!
This sounds like a test run, see what geopolitical reaction is.
Everybody goes "ok, whatever" then it becomes an avalanche, everybody abandoning the dollar, China welcoming them with open arms.
Next india, remember how the indian diplomat was treated a few months ago in the us? That will be the majority of the world using the other white paper.
Yuan- the other white paper
Is this the a way of saying we are with Putin and any Sanctions you put on Russia we can retaliate on their behave.
The killer punch will be when they have to sell their Government supplied illegal drugs in Yaun. Even selling the Government supplied drugs in Yaun will prove tricky and they will use real money, gold.
http://www.thewarningsecondcoming.com/god-the-father-the-anti-christ-and...
http://www.thewarningsecondcoming.com/god-the-father-the-anti-christ-and...
Lot of Chinese whores in Afghanistan, where are they gonna make their deposits?
Yes this is related to the trrorist acts in China, as US dollars flow to Afghanistan extremists who place the money into Afghan banks and then onto extremists in China.
poor china just wants to cut out the middle-man? afterall it was opium,... yes the opium trade that mao took advantage of in the chinese 'civil wars', and sino-jap war-- the, 'opium growing country' via ningxia and gansu to beijiang and tianjin. north china became the heroine production distribution center that paid for mostly all mao's [ccp] communist logistic/ military expenses. but, it wasn't just mao that benefited-- chiang kai-shek of the [kmt] nationalist party also used the infamous 'green gang' in shanghai for the international trade. soon, in 1937 the jap's pulled the same shit and all three [jap' invaders, nat'l`s, and commi's] were making tons of money off the opium trade.
currently the ussa uses all of afghanistan's opium to subsidize it's proxy/covert wars... and then some$.
the entire globe, ~ 90% +/+ opium production is grown in afghanistan, as every drug`mule on the planet knows. china's love of the burma road? via hillary's good vibrations...
we're looking at a trillion $ trade annually. just selling the germinating?seedlings is huge. grow fertile farm house soil experts on u.s. federal land in afghan-duplicated/ simulated moisture/soil/sun/shade conditional growing season facsimilies.
http://talesofoldchina.com/shanghai/business/t-opium.htm
http://www.alternatewars.com/WW2/WW2_Documents/OSS/Opium/Opium_Jap_Occupation.htm
http://en.wikipedia.org/wiki/Green_Gang
http://en.wikipedia.org/wiki/Opium_Production_in_Afghanistan
jmo
Ps. China and the Pakistan's are buds, and Pakistan runs the internal afairs of afghan. it's that simple...
Have you got a dime? (So I can call someone who cares).