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De-Dollarization Continues As Russia Seeks AIIB Membership
As we noted a week ago, Vladimir Putin’s calls for a Eurasian currency union clearly demonstrate that the Russian President is acutely aware of the fact that the unipolar world of the 1980s is long gone. Putin’s security council also made it clear this week that the Kremlin is well aware that the sole aim of US foreign policy is preserving Western hegemony via an implicit (and sometimes explicit) policy of containment aimed at perpetuating the idea of US exceptionalism. Moscow then took the rhetoric up a notch on Thursday, accusing the US of attempting to take the “mutual” out of “mutually assured destruction” (i.e. Moscow thinks Washington is trying to tip the nuclear power balance).
Given all of this, we weren’t surprised to learn that Putin is now backing a Russian bid for membership in China’s Asian Infrastructure Investment Bank (for a summary of AIIB developments, see here). Here’s more via RT:
Russia decided to apply to join the China-led Asian Infrastructure Investment Bank (AIIB), the country’s Deputy Prime Minister Igor Shuvalov said on Saturday.
“I would like to inform you about the decision to participate in the AIIB,” which was made by Russian President Vladimir Putin, Shuvalov said at the Boao Forum for Asia.
Shuvalov added that Russia welcomes China’s Silk Road Economic Belt initiative and is happy about stepping up cooperation.
"We are delighted to be able to step up cooperation in the format of the Eurasian Economic Union (EEU) and China...the free movement of goods and capital within the EEU brings economies of Europe and Asia closer. This is intertwined with the Silk Road Economic Belt initiative, launched by the Chinese leadership," he said.
This comes after yet another US ally threw its support behind the venture last week, as South Korea finally conceded that not joining really wasn’t an option if Seoul wanted to maintain its influence in the region. More color via Bloomberg:
South Korea “needs to play the active role it deserves in the international community that’s comparable to its economic status, and AIIB would be an important gateway to expand our financial and diplomatic arena,” the Sejong, South Korea-based ministry said Thursday. The country will officially become a founding member of the AIIB once other members agree, and when the national assembly approves, according to the e-mailed statement.
Asia’s fourth-largest economy joins key U.S. allies from the U.K. to Germany and France in supporting China’s bid to create a new institution funding infrastructure projects in Asia. Japan is yet to make a decision on membership after the U.S. expressed concerns about the fund’s governance structure.
And then there’s The Netherlands, an official bid from Australia, and Brazil…
Via Reuters:
Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank (AIIB), adding clout to an institution seen as enhancing China's regional and global influence.
The AIIB, seen as a challenge to existing institutions the World Bank and Asian Development Bank, has drawn a cool response from the United States, despite which European U.S. allies including Britain, France, Germany and Italy have already announced they would join the bank.
Other countries such as Turkey and South Korea have also said they would join. Brazil, China's top trading partner, said on Friday it would sign up and that there were no conditions set. "Brazil is very interested in participating in this initiative," the office of President Dilma Rousseff said in a statement.
To make a long story short, everyone but the US and Japan are on board and Japan is seriously considering a bid. The question now is not whether de-dollarization is progressing or whether a shift away from US-dominated multinational institutions is in the offing (that horse, as one ADB official put it, has left the barn), but rather whether China will be aggressive about using the AIIB to begin a push towards yuan hegemony. Of course Beijing is playing down the idea that it will use the new development bank as a means of advancing China’s global footprint, but as we noted on Thursday, actions speak louder than words.
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When Russian gains membership.....look for black swan bombs, stuxnet viruses,
From... Russia... With... Love...
...plus very curious suicides.
So is the trade to go long or short the Renminbi against the dollar or just sit back and Yuan?
.
Loving this bank. Do you have to be a country or can anyone join this bank?
i would love to be the one who licks the stamp on the envelope to the usa, that says thank you for ur application, but due to ur poor credt rating we regret to inform u....u have been denied...NO FUCKING SOUP FOR YOU....NEXT!!!
Don't forget idiot Canada isn't part of the new Chinese bank either.
Harper would rather embarrass himself being America's French poodle, by insulting Putin and warring on Ukraine, than improving Canada's economy
Though Canada is now RMB trading hub. Live last week.
http://www.cbc.ca/news/business/toronto-becomes-first-renminbi-trading-h...
Fuck joobux...
~Sincerely, Vlad! [I guess I was 'conscientiously' OBJECTED there by someone who understood the TRUE VALUE of $USD ~ prolly CH1 & SMG]...
Fuck ME TOO...
I'm fucking sick of this gladhandling shit!
may i ask u a question thirst....if i touch ur stuff, will u kill me?
Sure ~ ask away...
Best that'll happen is that I'll tell you the TRUTH...
Worst that will happen is that I'll tell you the TRUTH...
".plus very curious suicides."
The "very curious suicides" at the moment, are of pro-Russian officials in US-backed Ukraine.
Then China takes the money and gives it to Kazahkstan shoving it up Putin's ass.
Oh, yeah...you're riding a winner here big boy.
I wouldn't worry about Putin. I'm more concerned about what is being stuck up my ass domestically.
Then China takes the money and gives it to Kazahkstan shoving it up Putin's ass.
lmao. Define "money"? Are we talking the AIIB deals in the USD? Or in RMB, as in Kazakhstan is now going to accept RMB? Or, is China going to transfer gold to Kazakhstan behind Putins back?
Some logistical hurdles in that theory.
US$ used as RMB equivalent. Russia borrows in RMB spend and return funds in RMB China payed for energy.
Is Lindsay Graham your senator?
yup disabled
As long as Putin & Co. are providing the Chinese with the necessary technology to further their defensive (and offensive) military capabilities, they're not going to 'shove' Russia anywhere, vet.
Respectfully -
oh crap
grow up
Fur hat and vodka. Are you Ukrainian?
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
more intriguing is the law of bad money and the dynamics of competing currency systems. will there be seperate forex valuations? different interest rates for lending? different foundation? gold?
The US is seeing its "soft power" evaporate. The Asian Infrastructure and Investment Bank is a competor for the World Bank. It's safe to assume that, now China has pulled the teeth of the World Bank, the IMF will be next. Don't look to Goldman Sachs for help; it Blankfein isn't learning Chinese his successor will.
Realistically speaking $100 billion is very small amount compare to IMF. It's Asia: words, thoughts and deeds have different meanings. More bluff than money.
Tim Geitner learned Mandarin a long time ago. The decision that the Yuan was to become the GRC by the CFR and BIS was made in the mid nineties about the time Bill Clinton was accepting campaign contributions from China. Part of the job of GRC is world policeman for trade. Goods are not the only thing on trade routes, they carry armies too. Long Chinese defense contractors.
Now you can save yourself hundreds of hours looking at propoganda masking as 'news' as China exerts empirical hedgemony and is called a bully while those at the top of the food chain snicker that people buy into it. Also how "evil" and dumb the US "lost" the GRC. What horsehit. Our American leadership needed to be more nationalist and less financeers which hold no national loyalty.
Thinking you can tame a dragon is folly. Napolean understood it was best not to feed one in the first place. The whole big picture reminds me of Rome and Constantine shifting the capitol east after corruption destroyed the empire.
So much for "hope and change". I suggest the U.S. stops its gestapo intimidation tactics. Stop the proxy wars, stop the drone strikes, shutdown foreign occupations, bring back the troops, dismantle the poppie fields, destroy the drug cartels by legalizing drugs, and for the People's sake prosecute the corrupt and fraudulent so we can all participate in the restoration of the nation.
The leaders of our nation need to refocus on internal sustainability. Looks like we are going to be isolated for our stupid and aggressive domestic & foreign policies.
<petro-dollar>....collapse is a forgone conclusion......
..........''the foregone conclusion that a empire built on a finite resource will eventually fall......
http://www.counterpunch.org/2015/03/27/collapse-a-foregone-conclusion/
Nice dreamin thoughts IgnoranceBliss, but in order to realise the dream the American people need to first root out their own "foreign occupation", the fifth column dual citizen usurpers belonging to a cult who have undermined the constitution , granted themselves the monopoly power to create "money"whose use is enforced through taxation to pay principle and interest on fictionally created "debts", and owe allegiance to a racialist nation state which is nowhere near America
I am not dreaming.. Just waiting for the hangman to make his rounds when these ass clowns are smacked down by the newly developing global alliance. I'll be here to help America get off her knees.
What happened to Harry Reid. Who has been using his face as a punching bag?
I do not watch TV or even listen to radio anymore because it is all propaganda.
Limbaugh supposedly said Harry Reid falling on exercise equipment is a BS story. He is evil scum with a klan of evil brat kids like Biden.
u should ask his wife?
Q: "What happened to Harry Reid. Who has been using his face as a punching bag?"
A: "Do not be deceived: God cannot be mocked. A man reaps what he sows." - Galatians 6:7
I recall a planted story several years ago where they tried to say Reid had boxing background and he once stood up to some guy to protect his sister. I didn't believe it for a second.
What could be more humiliating than to be beaten up by your own excercize equipment?
Yes, Harry is said to have had a boxing carrer and has a pack of well fed relatives here in NV. They seem to do well with government handouts and special treatment. His son Rory was on the City Council but got hammered in a race for governor. Unfortunately we got Brian Sandoval, the great Hispanic hope who is worse than Reid would have dared to be. Sandoval gives RINOs a bad name and is now pushing for a new tax based on gross receipts after a referendum for such a thing was just crushed in the recent election.
Sandoval is a pretty boy who I think sees himself as a VP candidated who can bring in the Hispanic vote for the GOP.
Nevada seems to bring out the "D" in Republicans. We have been lied to by more of these fuckers than any state I know of. At least elsewhere you know you are going to get screwed. Here they tell you how 'conservative' they are first.
How about a Year Zero for America.
A well deserved isolation.
US will just have to sanction every country that joins this thing as the "axis of hatred".
What about the Israeli's...I wonder what they say about this development lol.
shit,... if you havn't figured out by now that israel runs the ussa by now-- don't waste your tyme hear?
Yes.
Very Bad in the short run (as country gets de-loused), but Very Good in the long run (clean restart).
only war?
pakistan or afpak as it should be called, will set the hindu-kush and the n-w frontier (khyber pakhtunkhwa) province on fire with the punjabs and pashuns as counterterrorism agents for the ussa 'what-ever-it-takes'!
afterall,... the only reason afpak was bush #43 first quicky before he moved to iraq was to stop the flow...?!?
jmo
it was always about oil!!!
Good. Painful - very - as the cabal of parasites get cleaned out but in the longer term will enable the whole system to reset. Whether that will happen when the majority is black+hispanic remains to be seen.
Am surprised they haven't done so already, nor has Brazil*, S. Africa, Chile...
* Wed, 03/25/2015 - 17:34 | 5926975 Kirk2NCC1701
Sounds like Brasil needs to join the AIIB "today", and start talking openly about pegging the Real to REAL assets: Precious Assets, like PM and Oil/Energy. Else they will remain the Globalist Bankster's bitch.
Look soon for the next Dancing Mossad 9/11 like false-flag that will serve to put Iran and Syria in the cross-hairs that Iraq used to occupy. Such a treasonous act for propaganda will allow Zion's war dog, the DC US, to "export democracy" to both and limit Russia's friends as well. Does not end well for the DC US.
The banksters need to repay us.
No amount of Goy will be spared in Zion's quests for lucre and Lebensraum.
Chinese RMB vs. U.S. dollar is the mother of all currency wars hidden in plain sight.
Moar...MOAR...MMMMOOOOAAAARRRR!!!!!
The US excerising hegemony in, for example, Kazahkistan, was always a neo-con pipedream. Sooner rather than later other pressures apply.
"New Silk road: China, Kazakhstan sign $23.6 Billion in deals: Xinhua" 3/27/15
http://atimes.com/2015/03/new-silk-road-china-kazakhstan--sign-23-6-billion-in-deals-xinhua/
go figure geography and the home-team always wins...?
jmo
The silk road project is massive and the $ 23.6 is only a small share of that. The cost for the high-speed-railway alone connecting Bejing to Moscow is estimated at 242 billion $. Moscow and Bejing recently signed the contract for the project decelopment. The works on the gas pipeline from Russia to China have already begun.
We have isolated some people ...
Kkkkkkkkkkkkkkkkkkkkkkkkk!
Imbeciles!
I say and I repeat, still will see US soldiers coming home swimming.
hehe.
The US is acting with increasing desperation, dragging its EU vassals along with it into the trash can.
The more the US threatens and bombs, the more the East resolves to create institutions not under western control.
The West is its own worst enemy.
Brazil is China's # 1 trading partner, according to this article.
That's very bad news for the Chinese, if true.
So will chinese fiat be better? Now if it is backed by something or part of a better system I will be sure to get into the blackmarket yuan exchange here in the american empire.
The Russian says this bank wont replace the IMF (international mother fuckers) and the Wordbank Yeahhh right keep sleeping from that side of the bed USSA.
Haven't all the major US manufacturers moved to China already anyway? And aren't all the major London banks operating in China (via Hong Kong) anyway?
This move hurts no-one in power, and has been planned since at least 1998 (though no doubt long before). TPTB have raped the West by handing over endless distractions to convince us that we're "wealthy" and all that's left for us now is the Jackboot. They simply move from the US to China, like they moved from England to the US.
Motasaurus - Exactly right. As people here make $11 an hour with no bennies and entitlements keep getting cut you'll see a flood of Chinese investment here. That is when it will be a good time to be an innovator again. Not for a few more years though.
It is less clear if the AIIB shall contribute to de-dollarization. More interesting is going to be what kind of influence and say the non-regional members of the Bank such as UK and Germany will have on the business of the bank. I presume this will be a two class society with the regional members (such as China) at the helm and the non-regional members will have little or no impact on AIIB's policy. I expect the AIIB to finance many projects for the development of Central Asia because this is to the benefit of China (and the non-regional member Russia). An example is likely the $ 242 billion high-speed railway project connecting Bejing and Moscow. It should be difficult for non-regional members such as UK and Germany to provide funds to an organization that is financing projects which are not in-line with their foreign policies. Maybe the AIIB provides funds for the new Kherson-bridge connecting Crimea to the russian mainland. In any event the share of business that shall be given to the US and EU companies in relation to the infrastructure projects is likely marginal. An example is the high-speed-railway project from Bejing to Moscow. It has been already said that Siemens-Alsthom has been replaced for the supply of the engines by Southern Chinese Railways Co. which is producing the high-speed engines for the chinese market.
I'm stealing this guys comment I read on a Yahoo article this morning because it's fucking perfect:
{{We, the super wealthy ancient bloodline banking families who control the West and run Washington, Tel Aviv, and London, among other capitals, wish to deliver a message to you:
We are about to bring our Nazionist New World Order into full power, but Vladimir Putin and the BRICS Alliance are trying to stop us. They are trying to dissolve the power of our US Federal Reserve, which we, the bankers own and control and use to financially enslave the world.
So, we have commanded our loyal servants (puppets would be a better word) Hussein Obama, the British twit Cameron, and the warlord bulldog Netanyahu to spread a huge war all across the Middle East, drawing in Turkey, Iran, and Russia. We plan to then turn that conflagration into WWIII, to depopulate the Earth of millions of "useless eaters" as our beloved Adolph called them.
We use the media, which we own and control, to put out articles like this to sway your weak jello-like American and British minds to believe that Putin is the bad guy, and you swallow it hook, line, and sinker! Hahahahahah! We elite are so very clever and cunning. Your tiny minds are no match for us, and we easily control and manipulate you.
Only we, the elite who own Washington and London have the right to put our warships in the waters near other nations, to make war, and to strike fear into humanity. Putin has no such right!
Only the American nation, which we bankers control, has the right to ruthlessly bomb civilians, wipe out entire nations, and drop atomic bombs on cities. Hahahahaha! And, we aim to keep that predominance and with it control and financially enslave the entire world----once we get Putin out of our way.
So, yes, dumb sheep in America and England. Keep believing Putin is the bad guy... Hahahah! We love it when you believe our lies and propaganda!}}
Tell me that's not perfect.
correct me if i am wrong.if you want to join this club (aiib) you have to join by 31st of march.( that is why uk,germany,france etc have joined) and you will be known as founding members.after 31st of march everyone who joins will be second rate members of aiib.
it should be interesting for usa and japan
That is great to me for as sure as we speak now China will have a great collapse an no way to recover except through authoritarian method's and I am sure that means fuck everyone else.
I will always till I die be learking on the other side of that trade.
Gee, I take it that China is going to do a lot of hand-wringing over allowing Russia to join club...? Umm-hmmm...