This page has been archived and commenting is disabled.
De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement
The last 3 months have seen Russia's "de-dollarization" plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this week, Russia's oligarchs have shifted cash holdings to Hong Kong. But this week, as RT reports, Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments. “"The agreement will stimulate further development of direct trade in yuan and rubles on the domestic foreign exchange markets of Russia and China," the Russian regulator said.
In early July, the Central Bank’s chairwoman Elvira Nabiullina said Moscow and Beijing were close to reaching an agreement on conducting swap operations in national currencies to boost trade. The deal was later discussed during her trip to China.
President Vladimir Putin, during his visit to Shanghai in May, said cooperation between Russian and Chinese banks was growing, and the two sides were set to continue developing the financial infrastructure.
“Work is underway to increase the amount of mutual payments in national currencies, and we intend to consider new financial instruments,” Putin said after talks with President Xi Jinping.
It appears the deal is done...
The Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments.
“The draft document between the Central Bank of Russia and the People’s Bank of China on national currency swaps has been agreed by the parties,” and is at the stage of formal approval procedures, ITAR-TASS quotes the Russian regulator’s office on Thursday.
The Russian Central Bank is not giving precise details on the size of the currency swaps, nor when it will be launched. It says this will depend on demand.
According to the bank, the agreement will serve as an additional instrument for ensuring international financial stability. Also, it will offer the possibility to obtain liquidity in critical situations.
“The agreement will stimulate further development of direct trade in yuan and rubles on the domestic foreign exchange markets of Russia and China,” the Russian regulator said.
Currently, over 75 percent of payments in Russia-China trade settlements are made in US dollars, according to Rossiyskaya Gazeta newspaper.
* * *
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.
»
- 93843 reads
- Printer-friendly version
- Send to friend
- advertisements -
Thats the plan !!!....Blame Russia for the collpase
"and we intend to consider new financial instruments"
Can you spell G.O.L.D ?
The NeoLibs better get on the phone to their NeoCon bretheren and come up with a different plan of action FAST
The current course they are on is crazier than Dick Cheney on bath salts...
heheheheh.....goood one.... how bout this one.......DOLLARS DOLLARS ...git your fresh hot DOLLARS....right here.......DOLLARS DOLLARS GIT YOUR FRESH HOT DOLLARS......
Putin: Checkmate.
Obama: King me.
It appears as if old trading alliances are trumping the WTO and this globalization crap.
when the boarder between Russia and China is as free as the one between Canada and the US I will believe it's for trade---till then it's a valve for the oligarchs to move money safely ---imho
agreements to cooperate in a crisis in non dollars are central to this entire arrangement and that much should be obvious. This means a crisis us expected.
accelerated cooperation activity among BRICS central banks is also indicative of expectation of a crisis.
Eyeroller wrote "Obama: King me."
Should rather be, Obama: Cock me.
Obama: Reggie!!!!!!
It's the weather
US/Canadian border free? Try telling that to the boy scout that just had a gun put to his head at the checkpoint.
There appears to be a national schizophrenia in this country that still parrots the party-line that we are free. Nothing could be further from the truth. The sooner this economy collapses, the safer we, and the world, will be.
Obama: Queen me
queer*
checkmate? WHAT? We are playing Checkers you can "Checkmate" in Checkers!!!!! What da u mean we are playing Chess, Master Putin?
I can't spell it as fast as the banksters can naked short the COMEX, however.
As always, this story is gold-negative.
Naked shorting the COMEX is gold negative? I have checked, and the element could not care less what the desperate paper wankers do. Once again for the terminally obtuse - everything in its time, and gold on sale should CONTINUE to be viewed as a gift.
Given what we know of Chinese statistics and business methods and Russian political and financial crises, why would anyone trust their currencies?
Hint: The British pound and the US dollar were trusted around the world because they were backed by gold. When the gold disappeared so did the trust and the power that goes with it.
They'll blame me too. I put my savings in non-dollar investments. You and me, Putin!
It took WWI to collapse the British empire, and the pound.
Purely coincidental timing on the founding of the FedRes.
Even with all the low flying black swans darkening the skies at midday.
something is still missing.Keeps slipping off my tongue.
I wonder when America's Suez moment will arrive
I am kicking back on the couch now watching Mad Max on Netflix. Sad to say but it is a training film.
"Nightrider: I am the Nightrider. I'm a fuel injected suicide machine. I am the rocker, I am the roller, I am the out-of-controller!"
Suez Canal, Persian Gulf, Black Sea, South China Sea, Caspian Sea, Nicaragua Canal pick your favorite body of water, what difference – at this point, what difference does it make?
Here's what Morrisey's got to say:
https://www.youtube.com/watch?v=XbOx8TyvUmI
America's Suez moment may have been Syria.
The soft target.
Honestly cannot remember the book but a case was made that the USG helped to push WWI using it to weaken the two major powers (Britain and France...yes, they were somewhat major at the time). The idea was to weaken them to the point the USG could challenge them on the High Seas (Oh, look at that great white fleet coming over the horizon...yes, it predates the war but hey, it was done to make a point to both countries). End result, the finishing off of both countries as world powers at the conclusion of WWI (1945).
But Putan wont start a war so here comes ISIs if they wont or cant guess that leaves good ole IRAN
Iran has not started any war in 200 years.
Well, 192 years anyway, but what is 8 years between friends.
This is what REALLY will kick off WW V. (The previous world wars being the 7 Years War or the French & Indian War.....WW "1"....ww"II".....and the Cold War).
"Nobody puts Baby (dollar) in a corner !"
Heads up ! Look for who the proxies in this war will be. This World War will NOT be a standup fight between the Chi-Roosks and the Americans. Too much money and material at stake. Look for the pawns. HHmmmm.......now where can we find a bunch of crazy ass, well armed pawns armed with both Russian and American weapons......hhhmmmm......somewhere dry and less forested than Viet Nam. Close to a bunch of oil.........hhhhhmmmm........just where can that be?
I will bet the farm than Vald and XI have their personal (stolen) fortunes in good old American Dollars - just like Saddam did!
Eurasian Growth 'n' Income
I will bet the farm than Vald and XI have their personal (stolen) fortunes in good old American Dollars - just like Saddam did!
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... http://goo.gl/bhiamE
Is the growth of these swap agreements accelerating? Or am I just noticing it more, but it's still just a handful here and there to lay a trading foundation? I notice that one of Russia & China's agreements did not include currency at all - the terms reported were so much oil for so much equipment, or something like that. Was that a barter agreement? Or is that sort of thing common? I have so many questions and nothing in my experience to answer them, but this is fascinating to watch.
Trade represents a fraction of capital flows; until there is another sink for the trillions managed by institutions and sovereign wealth funds, the dollar will be the reserve currency.
wouldn't that would imply that some future 'sink' (Yuan bonds or Yubles/SDR-like something) would be willing to trade (accept) for dollars? i think not. i think that one day all those 'dollar' assets go poof. got tangibles?
Renfield...seriously
China has swaps with every one but the US. In October they signed one with the EZ. Russia just did India 2 weeks ago and the BRICS bank thingy in Brasil several weeks ago.
It is all systems go for de-dollarization.
THe Saudis are the one remaining piece.
Renders, " Was that a barter agreement? Or is that sort of thing common?"
The big advantage to China and Russia is that barter exchanges avoid Federal income taxes.
We are about to see the overthrow of Bank Lobby rule and their own president Obama.
Neocons of both parties will not tolerate this.
Tectonic changes in Washington DC are inevitable.
America has a choice:
Bank lobby and dollar trashing
or
Neocons and strong dollar
Make a pick America, can't have both, can't have anybody else, no other choices.
Both sides hate each other to death (and it may be LITERALLY to death)
ekm, how would the strong dollar option work?
20% rates again? at this point would that even make a difference?
No. This is not a matter of debt, this is a matter of excess reserves, of too much dollars
Give me few minutes to type up a short summary
I keep telling my wife ill take the reserves if there is too much hand it over
People confuse Debt with Reserve.
Debt is self destructive. Default and gone. Debt is no problem.
The problem is Reserves.
You see, Fed and Commercial banks create USD reserves, but only the Fed and Gov can EXTINGUISH them.
Since dollar de-link in early 1970s here's USD dollar reserves created:
- $19 trillion in pensions
- $11 trillion in deposits
- $7 trillion in the world
- $4 trillion created by QE
That is officially about $40 trillion
Then there is another $20-30 trillion in offshore accounts in about 80 locations in the world, unaccounted for.
http://www.forbes.com/sites/frederickallen/2012/07/23/super-rich-hide-21...
That makes it $60-70 trillion sloshing around which can extinguished only by the Fed or Government
Now think: World GDP is about $80 trillion which is INSTANTLY claimed by those USD reserves, since most of world output, trade is denominated in USD
Solution:
Extinguish $10-20 trillion. Not via bail-ins since it will literally be world war, but by bank shutdowns and closures, like offshore banks etc.
There will be some minimal bail-in also.
Otherwise, world will simply drop USD, because there is too much of it.
Conclusion:
There is too much dollars and there are too many insolvent oligarchs who hold only financial assets who will become poor very soon.
Thanks ekm. I am going to have to think over the repercussions of this. I think you're saying (if I understand) that they are going to 'disappear' roughly 15% of the reserves that someone considers their asset? (wonder who those 'folks' would be) I thought it would be pretty much bankers staying the course they are on, but this second approach sounds deflationary to me. Much appreciation for this detail you wrote.
Yes, deflationary. Issue is who's assets will go through deflation.
Neocons win,bankers lose
Military hates bank lobby now. They were back stabbed.
Whoever has military's backing wins. That is what history says
The military would at least get paid that way. Frankly, being at war will not only pay the military (so at least someone's employed) but provide plausible cover for the trade war stuff, bank closures, etc. It would not seem like it was a race to save the currency then, but could be blamed entirely on politics. They would hope with a deflationary event, faith in the fiat might not be lost. It's interesting to think about, thanks for these comments.
you're welcome
Why would you need to extinguish reserves ? Can you not simply let all these dollars work through the system, by the inflation this could cause the reduction in wealth by dollar holders would be more or less evenly spread ? ( you do not have to target specific reserves to extinguish, however you do that ).
The spread is exactly the issue.
And no, it won't be evenly spread since concentration is not evenly spread.
There are those who gained USD reserves by producing something real, like Bill Gates or Koch Brothers.
And there are those who just got them direct from the Fed.
Bank lobby just got $4 trillion out of nothing, thus claiming saudi oil instantly.
Oligarchs do not like that stuff, hence war and assassinations. Shark against shark.
Ekm1, do you think the fed would force the TBTF banks to buy those toxic MBS securities to suck up the excess liquidity? If not other things on their balance sheets?
Federal Reserve is nothing. It has zero power. FOMC is bunch of academics who get paid to brag on TV and to collect speaking fees.
The issue is who controls the Federal Reserve, which lobby controls it in order to print money for itself. The issue is controlling money creating computers at NY Fed.
People with guns who are ready to use them, ultimately win
I do not think any normal solution of draining dollars works any longer.
Bear Stearns, Lehman drained reserves because George W Bush understood the game and ordered Lehman dead, as a good neocon that he is.
Bank lobby survived when Obama came to power and still ruling, but not for long.
We'll have a TRIPLE LEHMAN soon to extinguish $10+ trillions or world will simply drop USD totally.
World can handle wars.
World can never ever accept trillions of USD coming out of nothing, even at gun point.
one word ekm1 -------collateral--
real.....collateral
Exactly ekm. Why would anyone put real collateral up against play money?
Awesome analysis ekm. I'm going to read it through thoroughly in a minute. I've had a few so I'm in second gear, but my question is this: are you taking into consideration actions/strategies of other world players? Does the US vaporizing 10% change the trajectory? The trend is away from the dollar and I believe the scenario you lay out would accelerate that process as the arbitrary, reactionary, schizophrenic nature of US monechangers would be- even more- apparent and imminent. The ship has sailed.
I believe the only thing the money changers can do is what they are doing. Closing all the exits. Cyprus. Vactican Bank. Zurich. Leaving a few outlets open like Belgium to relieve pressure. The game has been frozen- scoreboard unplugged.
It reminds me of the SuperBowl- Ravens vs 49ers. Ravens were winning and they had the momentum when suddenly, inexplicably, the lights went out. Remember that? After they finally got them back on the 49ers made a comeback... but the Ravens still won (there may be a lesson). Anyway that is what is happening now geopolitically. The lights have been turned off before the game was lost.
The game is lost. No matter what the game is lost. Even if we win we will have sacrificed everything of value- anything that even mattered- for a few more moments at the top.
Thanks for your comments. and giving me something to think about.
In my view, the moneychangers are about to be removed from control of the Fed.
Neocons and military will take over the Fed, as they did until early 90s.
World will accept using USD, if US military goes back to becoming interventionists again, to impose some rule on world trade, world trade routes and world natural resource owners.
The world isn't going to accept it. I know this because they aren't accepting it. They are banding together, closing ranks to best cover their asses for the fallout. BRICS bank? BRICS development fund? Currency swaps?
People aren't going to follow without benefit- unless they're under your boot. Which is the game the US is playing. A boot smashing a human face. Forever. It didn't work for the Nazis and it won't work for America, but it might end in the same place. :)
World is not accepting fake dollars like QE which is basically financial aggression.
USA is not same as NAZI. USA has never claimed anybody's else territory from the moment it became a superpower.
manifest destiny claimed the western hemisphere entire.
That was a good start.
Why conquer and occupy a territory when you can control it financially and increasingly culturally?
Which tells me there were special reasons on(in) the ground that led to the invasion of Iraq. But that's another nut.
I'll stop arguing and re-reread your post. Just an initial impression I got.
I am loathe to recommend wikipedia, but I did find this:
"Relationship with Manifest Destiny and German Lebensraum ideologyGerman geographer Friedrich Ratzel visited North America beginning in 1873 and saw the effects of American manifest destiny. Ratzel sympathized with the results of "manifest destiny", but he never used the term. Instead he relied on the Frontier Thesis of Frederick Jackson Turner. Ratzel promoted overseas colonies for Germany in Asia and Africa, but not an expansion into Slavic lands.Later German publicists misinterpreted Ratzel to argue for the right of the German race to expand within Europe; that notion was later incorporated into Nazi ideology, as Lebensraum.Harriet Wanklyn (1961) argues that Ratzel's theory was designed to advance science, and that politicians distorted it for political goals."
Evolution at work again. IdeologyEvolution.
So, yeah. After re-rereading I believe your analysis suffers from a preoccupation with American strategy and goals. The US still has a few cards to play, but This time IS different.
After WWII America was the last man standing. Presiding over a Europe reduced to rubble, a weakened, bloodied, but defiant Russia, and an undeveloped East Asia.
The End of the Cold War, again, left America top dog. Free to impose its will.
The conditions for hegemony no longer exist. Europe is rebuilt. Russia is not only defiant, but rich. Southeast Asia is the world's economic powerhouse. And, worst of all, they have more to gain by cooperation than bickering, sanctions and war. The window for permanent American dominance is closing and the BRICS will slam it shut with aplomb.
Zbigniew had a dream. Many old men had grand dreams. I hear about them all the time down at the coffee shop.
Peace.
BRICs unity is a mirage.
China is a mirage
What is happening is just Obama hating USA so much that tried to harm the military and withdrew from world stage.
Not for long. Neocons will overpower him
Sorry, double post.
It's not going to be that easy. The banksters have their own private armies, and I would guess, access to a nuke or two.
That's why I say assassinations and dead executives lying on streets may occur soon.
I would like to think you are right. Too little, too late, though IMO.
The RoW will want the US military castrated at this point to retore any
faith, and therefore credit, to the system.
Nice job Ekm1. The bounty is coming after them. They feel the true fear on being on the wrong side of the fence. The Clintons misguided them. They assured everyone would flock in droves under modified ideology transformation. They underestimated the public resistance. Cannot say anymore, hope you understand my riddled post.
No dollars no military. Very soon the military will be a shell of itself as the funding dries up. Bases will be closed worldwide, pentagon contractor employees will be unemployed. Nobody needs the backing of the military.
Since when it's so difficult to type digits into computers?
That's what "funding" means nowadays
I agree. Financials fund the MIC..... not the other way around. War party get their power from the money creators.
Ekm, it is clear you do not want the bloody dollar to destruct. So be it. It is thus, you believe deflation is a solution to an inflationary problem. The financial architects will never allow deflation for the good of the whole. They are souless autocrats, not compassionate helpers. It is obvious they cornered deflation and favored inflation. They made their decision several years ago. We will never see deflation until the USD is destroyed. Lastly, the military is a product of the financial construct. To say their is a separation of ideals between the produce created by money and its labour is incredulous to me. Your mind seems to be running to make sense of a satanic and destructive system. Little sense can be made in a crazy system.
No, it's the opposite.
Financial Construct is a product of Military Power.
One who has the guns rules.
And yes, most of the world would prefer american hegemony, pax-americana, but not abusing that power by printing $4trillion USD
Guns do not create rules nor do they create laws. They are either a means to destroy them or defend them. Weapons take men of great responsibility to wield them. It is men of all nations and of all colors who possess moral integrity, enlightenment, and a value of Love, not only to God, but also to their neighbor who hold the power to create jurisdiction that results in the foundation on which civility can be constructed upon.
Finicial weapons are what ignite a race to protect them. A nucleur bomb would have the same chance as a submarine to be built by the tribes who live in Amazonia. Yes, finance contributed to the weaponization of military. Afterall, that which held value needed protection. It is a logical progression of power. If the gun were the basis of value then the gun would be the basis of trade. Fuck you pay me or get shot or fuck you work for me or get shot.
Laws and rules cannot be implemented without threat to use guns
Repercussions are what implement the rule of the land. I can not disagree with you as guns can be a means to subjugate a society but that will by no manner stimulate growth to any civilization. The threat is key indeed. But the actual force is degenerative and regressive by nature. Newton's third law is a valid reference of what to expect in a society which deems to "live by the gun." They die by the gun. You know where the US is headed.
first they need the power to control or at least dominate the gun
bankers and MIC are one and the same
ask my Queenie about the British East India Company
ask Catherine Austin Fitts about the Nazi's
2 simple points of enquiry
you'll know a lot more about current corporations, MIC, Bankers and guns... all quite cozy
still laughing at the idea bankers are cranky with the MIC - the MIC own the banker IT systems for fuck sake
its a circular argument
Do any of you think that the MIC will bite the hand that feeds them.....?
The govt is a gatekeeper for the owners of the FED and that is all. Illegitimacy through and through.
RIPS
ekm your military lobby will be nothing when it starves.....no matter whether it comes by deflation or hyperinflation, the funding to the military will dry up.....
It is as simple as controlling computers where money is created.
No need for bank lobby
You seem to be on the same wavelength as Radical Marijuana, with a more fine-grained analysis of contemporary capital flows.
ekm
one day those dollars will just go ...poof...
The world's bankers know how many there are and they know they will never be redeemed for real wealth.
They are preparing for that day. De-dollarization is that preparation.
Look for gold to be the next reserve asset and things will start to make sense.
If that continues, then look for dead executives lying down on streets
What if you/me hate BOTH fucking sides ????......or better question, which side is for GOLD IS MONEY ????
That applies to a financial system.
But you can't buy a coffee with gold coins
I've got a coffee in my hand right now.
If anyone wants to buy it with gold coin, I'm in. I'll have a glass of water instead.
OK ekm1, I've read your entire thread. I think you are sncere, but what you propose will never happen.
Pensions have reserves? You've got to be kidding me. Everything is bankrupt. Reserves have all been used as collateral for debt. They exist nowhere except in the imagination.
You presume that at this point there are options. That is a big mistake. If there were a range of options to get us out of this mess, I'm sure some of them would have been tried by now.
You may argue that QE is not working and we now need to reduce the number of dollars floating around in order to preserve reserve currency status. But this will only collapse the economy. Removing 20 trillion will make the whole scam go up in smoke. There are so many holes in the ballon that nothing keeps it inflated except more QE hot air.
You're right about a couple of things, but only accidentally, for the wrong reasons. Yes, the dollar will dominate, and neocon-ish ideology will dominate.
The dollar will become the global currency. This will be a victory for only the darkest forces. The dollar will dominate because:
1. It is literally encrusted with occult symbols and 666.
2. US led economic and military destabilization will sap the ability of BRICS nations to use their new currency union for economic growth. Look for escalation in Ukraine, more violence in Pakistan/Kasmir, ebola spreading in S-Africa, banskter hit jobs on Brazil, military containment and simultaneous provocaton on China's periphery.
3. All of this activity to contain BRICS will sap US economic strength. Guns are expensive. Wars are the primary cause of national bankruptancy. QE will continue to infinity, but QE/inflation doesn't matter (in the short term) as long as the dollar is the reserve currency.
All of this will only mean the US will increase its cooperation with Israel, the fountainhead of neo-con ideology. Entanglement with Israel will increase, even as Israel becomes ever-more hated and loathed by US leaders. The above destabiliation cannot be carried out without Israeli leadership.
The dollar has been hijacked by Rothschild/Israeli forces, who need US economic strength to back up its imperial aggression on the middle east.The US needs Israel to help it destabilize and economicaly hamstring the rest of the globe. It is a Bonnie and Clyde partnership destined for tragedy.
Israel, however, will lose all of its drive once it actually annexes the West Bank and siezes control of the Temple Mount. These two things are Israel's only true objectives. At this point, the entire world will turn against Israel and the banker hegemony imposed upon the planet by Israel through the dollar. At this point, the economy will collapse. Israel, unable to defend herself and abandoned by the US, will be over-run and cease to exist. The deflationary collapse will be utter and complete. The planet will descend into anarchy and chaos. It will be a time of trouble such as there never was.
Brics unit is a mirage.
China is a mirage without food security and they will never have food security
US Military is like city police. Constant patrolling of streets needed, otherwise gangs fill the void.
US military needed, otherwise gangs like Putin, Jinping and Khamenei fill the void
Neocons are coming back. They will ovepower bank lobby soon
Rothchilds are gone.
Rothchilds were strong when British Navy was strong. Nobody cares about Rothchilds now.
Now it's about Warren Buffett, Bill Gates, Koch Brothers and other oligarchs. These ones do not care about old ones, like Rothchilds and Rockefellers.
These new brand of oligarchs do not seem to get along and warring each other, particularly now that chinese and russian oligarchs are taking away pieces of the world pie.
Civil war among western oligarchs continues. Blood will be shed.
tectonic? sure.
will that change Bank Lobby rules? maybe, for a while.
then... neo-cons... the old warmongers
wars cost money
neo-cons especially are playing the "bad cop" in the ukraine thing.
they all see it as a game. "how to piss off russians, and steal everything but the kitchen sink."
they're all in it together. like a giant pool full of slimy creatures.
(Victoria Nuland married with Robert Kagan is just one example)
but to the ones controlling them, in turn, they're useful idiots that think they're on top of the game.
the central bankers' whole purpose is to survive ANY political change.
they sit back in some quiet office in Basel and watch.
so the answer to the question "will that solve the probem?" is "no".
the problem is systemic.
"When written in Chinese the word crisis is composed of two characters.
One represents danger, and the other represents opportunity." JFK
(which isn't exactly correct linguistically, but who's counting? I'm not.)
I really do hope so.
I really do hope so.
Well now, maybe all that silver I got at 30 bucks oz will come back to it and I can quit slapping my head. I just hope the worlds not on fire then.
>> silver I got at 30 bucks oz
Dumbasses love company. Welcome friend.
You dummies....I paid $28.50 for mine ;-)
and I believe it got up to about $48. It will get back there and more!
I'd be up on my yellow shiny - down on my white shiny, if measured against the dollar, except for my holey canoe.
$19 oz for me. I forgot what my large gold purchase was in 2001. We'll call it dirt cheap. Nope, US has no inflation issues.
/ sarc
Started @ $10 here bitches....
I bought a bunch at $28, and whole bunch at $20. Then lost it in a boating accident.
You didn't buy silver to measure it in dollars. Remember that amigo.
...Yeah, that's what I like to tell myself as well
ha ha! touche.
hurts because it is so true.
But we did buy silver to hold its value against other things of value that we need, like housing and food, but those keep going up in usd requiring more and more silver in order to trade for them even with a constantly devaluing dollar. I dont seem to be getting ahead buying more and more silver/gold because it keeps costing more metal to be able to trade for things i really need. I know I kow, Au/Ag going up soon and things will even out once they loose ability to suppress price...i just hope im still alive by then
I buy precious metals for one reason: insurance against currency collapse. Those of us who do, focus on how many ounces we have -- not the currency required to buy them.
Those who buy PMs for other reasons are subject to disillusionment.
They pay us in debt coupons, and we in turn convert to real money.
Not the most efficient system and there are middlemen involved, but what the hey....
+1
The usual wisdom from our skateboarding friend.
The US Federal Reserve needs help in destroying the dollar. Along comes Russia and China as easy scapegoats. Oops, the Fed never saw it coming.
They have NO choice. It's now a question of who gets "there" first: DOLLAR'S END-RUN vs. DOLLAR-ENDS RUN!
This is a foot race to the finish. Gloves are coming off on both sides. And other mixed metaphors. ;-)
Cracked me up. It will be hilarious to read about whats going on today in a history book in 40 years. Sad really. How much will be glossed over. Rearranged. Diced. Spliced. Forgotten and shed whole cloth.
I think I'll write a book. "What if the Nazis had won?.... and other Nonsense"
Thanks for the link, Drudge :)
Drudge Readers:
Your re-education begins here.
- There is no real differences at the federal level of the Republican & Democratic parties.
- Inflation, Debt-Based, and Fractional-Reserve Lending Money is the root cause of our warmongering and comsumer-overspending evils.
Please continue reading this site to see just how far deep the rabbit hole goes with global corruption (amongst other topics).
heh, wish this could be stickied to the top of the post!
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."
Sounds like that's the Bilderberger plan...
Makes no difference to me . I'm just about out of dollars either way. I'm either broke and up shit's creek, or I'm broke and up shit's creek, depending on which way this one falls.
No need to feel lonely, GB, "Upper" Shit Creek is a very populated place. Population: 6 billion, give or take a few hundred million.
Hey brothers.....can ya'll spare a paddle? My arm is sore and my hand smells like shit.
If the USD demand for trade by two of the largest economies in the world is declining so rapidly, then when will USD value collapse?
From the previous so called 'rag tag' / sanctioned economies such as Iran, Venezuela, N. Korea, Sudan, Somalia etc are also finding their way away from Eurozone as well as the USD.
In addition to the Russians and the Chinese deciding to do more business in their respective currencies instead of the USD just today, Venezulean oil company decided to dump the troubled Espirito Santo bank and go again.....drum roll please.....straight into the lap of a Chinese bank!
PDVSA switches to China Citic Bank from Portugal's BES -documentI am finding it hard to digest that USA does not know what they are doing........so is this positioning of the US to put band aid solutions on its economy and banks while at the same time ensuring that there are enough wars and enough nations who will join hands together before the US economy totally collapses is moving to a situation where US economy will totally collapse and blame goes to the foreigners...?
Concerns should be more for the Euro Banks. They are outside safety rings of BRICS and can continue their dances of death with US FED.
I thought I knew quite a bit about how currencies worked post Bretton Woods but I have to say that after reading this PHd level dissertation on the FOFOA web site, not sure I really did (or do) understand currency floats, etc.
I highly recommend everyone go to the link and get exposed to information I had never even heard about with regard to this subject. I'm finding it harder and harder to feel I understand what is happening in the world. These bankers are fucking nuts.
http://fofoa.blogspot.com/
BTW, while it is a freegold web site, this article should be a tyler post here on ZH because it is fascinating and very informative, assuming you can unpack it. Bring a coffee.
"De-Dollarization accelerates...."....It's no wonder everyone is buying gold and silver.
I'd buy a few [dozen] trucks of oil if I had a place to store it.
Pull buried crude out of ground and reifne --> Store refined crude in tankers --> Bury tankers.
Along wth getting your house or homestead in the country off grid and onto solar.......might not be a bad idea to buy a tank and bury it to store diesel. That way you can run your backup generator if need be and fuel the tractor and trucks on deisel bought at today's prices and not what they will be.
"might not be a bad idea to buy a tank and bury it to store diesel."
Better read this first:
http://www.fueltechnologiesinternational.com/is-my-stored-diesel-fuel-re...
Yeah, diesel doesn't store well. Anyway, reserves of anything immediately valuable will only attract the wrong kind of MadMax characters. Inevitably, one of those gangs will be better-armed than you.
In this kind of ultimate collapse scenario, the best thing is to appear poverty-stricken, and to have some depth of reality to back that apearance up. Make your assets invisible. That means yu stock up on skills, not valubles. How to grow things. How to utilize animal power. How to forage, knowledge of the landscape, close observation of your natural surroundings, from understanding the weed cycle to knowing where springs are, weather patterns, etc.
When approached, you appear to be filthy and covered in rags, owning nothing of value. If you're really good, you see them and they never see you.
What they don't know is that you're warm and dry and reasonably well nourished. If you can achieve warm/dry/nourished, you have achieved success.
We are running fuel ten plus years old right now that was left in parked machines. Several hundreds gallons.
It was high grade. Not cheapest, which some will begin deterioate much more faster.
We are using this in basic older engines, not high tech auto. Old are not picky nor easily screwed up if best filters and no water in fuel...
PRI Fuel Treatment will easily extend Diesel for years in clean tanks. Get PRI info and study that in detail and testimonies.
PRI is best by extremes....made for gasoiline also...forget stabil and other
Generator with Hatz Diesel, Isuzu Pup Diesel, Older stuff...no really small diesel generator I know of, so
Propane is better for long term...last forever..really small generators available to stretch supply out long..
Yamaha smallest is what we have for ultimate conservation...
Only propane is less flexible to move..
The United States deserves to lose it's status for gross mismanagement.
Unfortunately, the powers that be will probably drag us into a war over it.
If you are on a government check, you’re fucked at the end of this tunnel.
I can see it already. People who fell off the deep-end carrying around checks that nobody will cash.
"Will you cash my check?"
They'll still cash checks, a worthless check in exchange for worthless dollars.
At least Ebola finally went away.
In the old days they used to blow up areas of the planet and carry the valubles out. Today they use financial warfare to collapse the economies and siphon off the wealth. I do believe it is going to be moving into Russia, Germany and China is ok with what it has.
"In the old days they used to blow up areas of the planet and carry the valubles out. Today they use financial warfare to collapse the economies and siphon off the wealth. I do believe it is going to be moving into Russia, Germany and China is ok with what it has."
You might find this clip from the movie "Network" to your liking.
http://www.youtube.com/watch?v=jxiT30N6ti4
With a cherry on top!
Wonder if Obama will have to declare war on Malaysia as well if this consensus moves to the Malaysian court(s)?...
ISIS will have to blow up the Iraq dam to keep the petrodollar alive.
/ sarc
the day ISIS blows the dam is the day the Euphrates dries up (turks will shut off the water)
No sarc needed, you're spot-on.
I've said many times, the US military acts to enforce dollar hegemony which is the foundation of American power. I see acts like this as a threat Washington DC will have to respond to with action. Since the only real actions Washington CAN take is military, I see the Ukraine crisis being pushed to the brink of nuclear all out war. The coming Kiev/Washington DC offensive to take Donetsk with mass rocket, artillery and missile build ups for mass murder on a grand scale, this is being planned to force Russia to act to protect the 500,000 people or more still in Donestsk. Kiev is about to smother the city in artillery and rocket fire. The idea is to kill so many people that Russia will react to defend the city or open a road to the city from the east. Either way, NATO and Kiev want Russia to act to enable NATO to move into Ukraine to defend Nazi Kiev.
All in all, Washington plans to force a major war onto Europe, if killing thousands is required, Nuland and Kiev are prepared to attack the city just like Nuland's israeli homeland has attacked Gaza. In fact, Gaza II is in the making. Nuland and her Washington Israeli cabal have big plans for war. We taxpayers in America will bear the cost, as always. Nuland and her Israeli Neocons will stay safe in Washington. And keep your eye on McCain, he will go ape shit when Russia does a missile strike on Kiev's artillery postions, the most likely reaction by Russia to mass bombardments that are only days, or even hours away.
Are you sure???
Looks like the militia broke the encirclement, and are flanking the artillery around
Donetesk, Jack.
Russia will take them out otherwise, without boots on the ground.
Did you see the Straits Times piece ?
Kiev is running out of time in a lot of ways.Always darkest before the dawn.
Reference source firstly if you actually have any such that is relieable....otherwise is time waster for others to attempt search
Albert Pike
http://www.libertyforlife.com/nwo/albert_pike.htm
this letter has never been written in 1871, term nazi didn't exist yet, many references are false.
sorry, you are an idiot believer.
this letter has never been written in 1871
lol
You sure do know a lot about me.
No way was this written in the late 19th century.
Jack Burton, always admire your posts on ZH. Always consistently spot on. Not a love fest, just appreciation. Keep up the good work. Of course I may tell you to fuck off, part of the Fight club protocol.
Doubt that will ever happen. Winks.
If push really does come to shove, Russia has a third option.
Any ethnic Russian who wants to leave gets automatic Russian citizenship and say, an apartment rent free for a year in the city of their choice, plus any money they bring in gets exchanged for rubles at the old rate.
A one-time cost far less expensive than fighting a major war, and for what?
Russia doesn't need the territory - it would just be an albatross considering the damage already done and the lack of any economic future it has, so just cut it loose. Walk away and let the Ukies clean up the mess they created if they want it that bad. Russia already has what it needs - Crimea and a year-round port.
I'd take a deal like that. Even if a peaceful solution is found, who wants to live amongst people who just tried to kill you, simply because of who you are?
I can even think of a government employment program for those who leave: Build a huge mother wall along the entire Ukrainian border so none of them can get out when the place collapses. Let the europeans deal with the refugees. They made it. They own it.
After that, they can start building a bridge across the Kerch Strait.
except that Russia can't allow NATO to take Ukraine and install missle 'defense' systems on it's border.
Anyone getting their ass kicked will grab the ball bat or 9mm.
It has to be nuclear war.