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De-Dollarization Du Jour: Russia Backs BRICS Alternative To SWIFT
Back in February, Russia detailed a SWIFT alternative that would link 91 domestic banks to the Central Bank of Russia.
On the one hand, the plan represented yet another move towards global de-dollarization but on the other, was borne out of necessity when Russia began to believe it may be expelled from SWIFT as punishment for its support of rebels in Ukraine. Prime Minister Dmitry Medvedev warned of “unlimited consequences” if the West decided on a punitive SWIFT freeze.
Two months later, Moscow would receive a seat on the SWIFT board.
Now, Russia is taking de-dollarization a step further by suggesting that a BRICS alternative to SWIFT may be in the cards. RT has more:
The Central Bank of Russia has proposed a discussion about establishing an analogue to the SWIFT global network for transmission of financial information that processes $6 trillion worth of communiqués daily.
The CBR hopes to cut the risks of possible disruptions.
"Seriously speaking, there is no analogue to SWIFT at the moment in the world, it is unique. The only topic that may be of interest to all of us within BRICS is to consider and talk over the possibility of setting up a system that would apply to the BRICS countries, used as a backup," said Deputy Governor of the Central Bank of the Russian Federation Olga Skorobogatova on Friday.
This comes as Russia (which, incidentally, is the second heaviest SWIFT user) is set to convene a BRICS summit in Ulfa on July 8-9 where the $100 billion BRICS bank will officially be launched along with a $100 billion currency reserve. Much like the China-led AIIB, the BRICS bank is in many ways a response to the failure of US-dominated multilateral institutions to meet the needs of modernity and offer representation that’s commensurate with the economic clout of its members.
This state of affairs isn’t likely to change anytime soon, because, as we discussed earlier this month, the The White House has signaled it will be unwilling to give up US veto power even if it means setting up and end-around that would allow the Fund to be reformed without the approval of congress. The Washington Post summarized the situation nicely after the 6th BRICS Summit last summer:
Although the BRICS comprise over one-fifth of the global economy, together they wield about 11 percent of the votes at the IMF. But reform to the governance of the Bretton-Woods institutions has encountered a number of roadblocks. In 2008 and again in 2010, quota reform at the IMF was intended to double total financial commitments from all member countries, while at the same time giving BRICS countries larger voting shares. Because this required additional contributions by member governments of richer countries, several balked for different reasons.
Russia is also pressing ahead with plans to establish a Eurasian currency union, something we first discussed a few months back. Here's what we said in March:
One person who is paying attention to the failure of the US to grasp that the unipolar world of the 1980s is long gone, is Russia's Vladimir Putin, who earlier today proposed creating a "Eurasian" currency union which would have Belarus and Kazakhstan as its first members, which already are Russia's partners in a political and economic union made up of former Soviet republics.
Sputnik News has the latest:
Russia is ready to consider the creation of a currency union with other members of the Eurasian Economic Union (EEU), Russian Prime Minister Dmitry Medvedev said Thursday.
"In this [EEU] format it would be possible to consider the possibility and conditions of eventually creating a monetary union,” Medvedev said.
The prime minister is currently in Kazakhstan for a session of the Eurasian Intergovernmental Council.
The EEU, which officially came into force January 1, 2015, comprises Armenia, Belarus, Kazakhstan and Russia. The bloc seeks to achieve greater economic integration, including the free flow of goods, services, capital and labor across its member states.
With that, we have triple-dose of de-dollarization, as Russia moves to undercut a critical financial communications link by creating an alternative system backed by the world's rising EM powerhouses who are set to officially launch their own development bank when they convene in July. At the same time, Moscow will consider cementing its economic ties with regional allies via the establishment of a currency bloc.
Paging King dollar: your grip on the throne grows weak.
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Here are your new bosses sheeple
USA
Will be the only ones left on swift
It's lonely at the top....
Not necessarily, sick dollar.
Notice that the USSA asserted jurisdiction to lead the FIFA arrests, despite the fact that non USA citizens allegedly committed crimes in non US jurisdictions. If the charges are valid, they should have been prosecuted under Swiss or EU law, not American Law.
The USSA sole claim to jurisdiction is based on the supposed facts that bribes were paid in Fed Reserve Notes transferred through foreign banking systems. If the FIFA officials had accepted Euros, Rubles or Yuan, the USSA would have no standing
"Prime Minister Dmitry Medvedev warned of “unlimited consequences” if the West decided on a punitive SWIFT freeze.
Two months later, Moscow would receive a seat on the SWIFT board."
Fucking bankers. No loyalty.
Sometimes the Banksters have to bitch slap their political puppets.
Note the "used as a backup," i.e. they will continue to use Swift unless action is taken to prevent countries from using Swift/conducting business. In other words they have a contingency plan - sound business sense.
"Loyalty" LOL. good one. Loyalty is something you might expect from your dog or spouse, and hopefully family, friends and Clan/Tribe members.
Oligarchs, Bankers and Rulers have NO Loyalty. They are Opportunists and Apex Predators, who have only Agreements, Treaties and Deals, which are Alliances of temporal & situational Convenience. It has always been so, no matter what bullshit they teach in school.
Clearly overreaching. Does FIFA have a proposal to expel USA from FIFA?
not just overreach, desperation to get anything other than western elite failures in the media.
Just another USSA attempt at a coup, this time against a non profit/non political organization.
What is odd is they went after everyone except the guy at the top Sepp Blatter.
http://en.wikipedia.org/wiki/Sepp_Blatter
The issue of Israeli suspension has not been resolved. Sepp Blatter objects to the proposed suspension.
Because they don't have dirt on him, or because he is opposed to expelling Israel? Interesting question...
the whole FIFA thing is a joke , tell her to arrest the bankers who got caught about a week ago manipulating currency and yet no one went to jail , you cant make this stuff up)
As a sheeple try to create just one dollar bill, you will end up in jail for the rest of your life
Blatter is a Swiss citizen.
There are limits what the Swiss (pretent to) do for US.
But, but... Biden said that the US in not looking for Regime change in Russia
http://rt.com/usa/262573-biden-spheres-influence-russia/
... “We’re not looking for regime change, or any fundamental alteration of circumstances inside Russia,” Biden said. “We’re looking for [Putin] to, in our view, act rationally [and comply with our rationale and world views].”
Biden lecturing anybody about "acting rationally" is hoot!
Howver his assertin that unless you agree with him or his administration, you're otherwise crazy/irrational, is of itself a demonsttration of a dementia of sorts.
Three things about the FIFA thing:
1) They were strongly going to consider expelling Israel, over Israel's holocaust against the Palestinians, from FIFA in their upcoming meeting.
2) Their management was highly, as compared to other big sport entities, devoid of the Amongst. Meaning that Zion was feeling a bit left out in the plunder department.
3) Diversion for the sheeple from other, actually important, things.
Liberty is a demand. Tyranny is submission..
"If you don't see Zion, you're blind."
" If the FIFA officials had accepted Euros, Rubles or Yuan, the USSA would have no standing"
YET another reason for stopping using dollars, even for crooks.
The USA loves to shoot itself in the foot, does it?
O R I
It's lonely at the bottom........................also
The real bottom is zombleland XAG...
zimbabwe did try and print it's way into prosperity.........
And the west is trying to follow, without the consequences.
Unless you meant zombies
And the west has zombie banks and corperates................and peeps that are flat broke and in debt up to thier necks.
Rate increases and it's all over
"zimbabwe did try and print it's way into prosperity........."
Actually, the Zimbabwean thieves and psychopaths in charge of the money and violence tried to print their way to higher levels of wealth.
That worked for them, not so much for the people.
Ditto in the Zion controlled west and DC US.
Liberty is a demand. Tyranny is submission..
Guillotines. The cure for banksters and tyranny.
Point is, that the USSA will seize funds and prosecute under US domestic law for activities conducted outside of the US and by non US citizens. In other words, it is open season on anyone who uses USD's for any reason that the Justice department does not like.
Realistically, FIFA was targeted because Russia was awarded the 2018 World Cup, and Quatar won the 2022 bid, over competing bids from the USSA, England and Australia. Call it the sore loser syndrome.... Also, FIFA was to vote on expelling Israel.
That is the point. But you should consider these facts:
-SWIFT is based on US$ (it means for several ms the internationally transferred money exists as US$);
-FATCA allows this kind of extension of US law.
So now not just the BRICS nations will join that alternative, but also the rest of the world. Because the SWIFT and FATCA allows this kind of harassment.
IMHO the BRICS alternative is on the verge of the implementation. Because the Chinese and the Russians worked on their own, and something is telling me these 2 systems are compatible.
Poor persecuted Russians, when will they realise their homosexual waxwork model leaders Ukrainian adventure has cost them billions in not only money but in international influence. Gazprom alone is going to take a hit on the $29bn owed, anyone holding Ukrainian Gov Bonds will suffer huge write downs, and now theres a 50:50 chance no one will turn up to their “World” Cup.
My heart bleeds for them, I hope they've stocked up on buckwheat.
You're a dick.
Look on the positive side RadioRant, Crimea, a jurisdiction worth TRILLONS, is now part of Russia. Sounds like a good overall deal to me. If I were you, I'd let my heart bleed for the sad sack Ukie losers, having the worlds worst performing economy in 2015. USSA, job well done.
The Palestinian Football Association has called for a vote to suspend Israel from FIFA:
The vote requires a 75% majority of the 209 FIFA members. There was a good chance that it was going to be successful.
But now, just by chance, the U.S. government ordered the Swiss police to raid the hotel where the main FIFA functionaries are residing to arrest some of them on corruption charges going back to the early 1990s. The U.S. wants these to be extradited to face a U.S. court.
Also, just by chance, reporters and photographers of the New York Times happen to be in that very Swiss hotel lobby, at 6 am, to capture the incident live:
The vote requires a 75% majority of the 209 FIFA members. There was a good chance that it was going to be successful.
But now, just by chance, the U.S. government ordered the Swiss police to raid the hotel where the main FIFA functionaries are residing to arrest some of them on corruption charges going back to the early 1990s. The U.S. wants these to be extradited to face a U.S. court.
Also, just by chance, reporters and photographers of the New York Times happen to be in that very Swiss hotel lobby, at 6 am, to capture the incident live:
As an Israeli journalist already gloats:
Let me guess: That was a main purpose of this raid?
http://www.globalresearch.ca/ahead-of-israel-soccer-expulsion-vote-u-s-o...
Old news. They did a "180" since then, after the US Zionists put the DOJ squeeze on FIFA's Sepp Blatter...
http://rt.com/news/263229-palestine-drop-israel-fifa/
Palestine has dropped its motion to suspend Israel from FIFA, Palestinian Football Association president Jibril Rajoub said. A committee was proposed to monitor the situation between the Palestine and Israeli associations, which FIFA approved.
Speaking at the FIFA congress, Rajoub said he was dropping the motion to have Israel suspended from the organization.
"I have decided to drop the suspension," Rajoub said, adding that he instead proposes that free movement be ensured for Palestinian players.
The collapse of the United States will take longer than you expect, even with the assumption that it will take longer than you expect. The collapse of the British Empire is still underway.
Nevertheless, he USSA is still collapsing, if slowly.
@ BobP....I think the massive and prolonged proliferation of massively powerful arms all over the world as the "hot-spot" has been moved around relentlessly since 1914 especially, has left a lot of people with a LOT of unexploded powder. Nuclear warheads on sale in the Eastern bloc and the failed states post 1991....
Point being that too many actors are now armed, some very very dangerously.
Also, think microbes, not Howitzers...
"The collapse of the United States will take longer than you expect, even with the assumption that it will take longer than you expect. The collapse of the British Empire is still underway."
+42. One of the best posts of the day or month. Alas, you will have a ton of pissed-off Libertarians and Doomers, whose biz models and livelihood depends on the notion of "Imminent Collapse".
I've learned the hard way, to take "The End is Near... buy beans, bullets and bullion" with a shovel of salt. History shows time and again that (in the absence of perfect and timely information, or the ability to manipulate events) NOTHING beats being Diversified in Assets, Incomes and Risk Mitigation Plans.
There are shills, hucksters, snake-oil salesmen, scammers and opportunists everywhere -- it's in the human DNA. Beware of financial Elmer Gantrys.
Given the continuous compounding of US debt, eventually the US will hit a wall, when the debt is no longer sustainable. The 'Wall' will be hit when the rest of the world starts to reject the USD as a store of value. If we define collapse as the replacement of the Fed Reserve Notes with something else, then this outcome is inevitable. But this does not mean that the US will disappear, or even cease to be a very important nation. Rather, we will see a relative decline in the stardard of living vis a vis the rest of the world, and less international influence. Study what happened to the British Empire, to gain insight into a reasonable roadmap of eventual outcomes.
It's a bit difficult to compare the demise of the British Empire with the possible future of the US "Empire". Whilst there are similarities, there are very substantial diffferences. Factors that may have a bearing on the speed / extent of "demise" might include:
1. Post WW2 the majority in Britain still grew their own food to a greater or lesser extent (motivated by the "Dig for Victory" campaign, and generations of family gardening knowledge). Nowadays, especially in Metropolitan US (where there are even Ordinances banning "home growing" in some States I believe?), maybe "not so much", so the majority of the population are completely dependent on the JIT infrastructure model.
2. Information dissemination was slow (letter post for the masses). Fast forward to today's "instant online info saturation" environment, and the ability for rapid and widespread information (or maybe dis-information) propagation is in a completely different league.
3. Loss of systems resilience via "savings on un-needed infrastructure": The provision of all major services (power / water / gas / wastewater) by profit-led Corporations has already been seen to result in failures due to cost-cutting, and lack of strategic investment (today's Corporate World prefers Share buy-backs, to CapEx).
4. Fomenting civil dissatisfaction "back home", with a generous helping of inter-racial distrust / outright hostility (demonstrated by many Globally-reported recent events).
5. Lack of (or more correctly, degradation of) population resilience, along with the growth of the "Career Unemployed, I'm a Victim, I've got Rights" mindset, and an acclimatised sense of "entitlement" very dependent on the position of the US $ as World Reserve currency.
Best to take each day as it comes. Tends to make life a whole lot happier . .
"USA will be the only ones left on swift".
Nah, its bosses (in London, Tel Aviv, Brussels and Bern/BIS), and its lackey1 nations will bend to the will of its Manifest Destiny 2.0
[1] Canada, Mexico, Japan, Colombia, Cayman Islands, Bahamas, Bermuda and most of the Caribbean. And any place under the thumb of the CIA+DOD.
Q: What d'ya think TPP is for? A: To keep the USD as the GRC. Duh!
Whether SWIFT or RIFT*, what's in Your wallet?
* Real International Financial Transfers
Same as the old bosses
But Putin does like ...........................Gold!
Not necessarily. Notice that the USSA asserted jurisdiction over the FIFA arrests, despite the fact that non USA citizens allegedly committed crimes in non US jurisdictions. The USSA claim to jurisdiction is based on the supposed facts that bribes were paid in Fed Reserve Notes transferred through foreign banking systems.
These are the days of miracle and wonder.
Perhaps we are watching the school bully eternally trapped in an empty playground.........losing it.
This is slap at both the USSA and EUSSR.
Since when are alleged sports bribery cases cause for international extradition, and especially by "neutral" Switzerland? They remained truly neutral for centuries for far, FAR worse criminal allegations.
Boycott Switzerland and anything Swiss. Fuck 'em, if they won't stay neutral!
Switzerland stepped off a cliff when it gave the vote to the world's largest socialist bloc in the 70s.
Yes, but these are weak hands. India and China (real world) are not in good shape. At all.
India actually is pretty mightily fucked. A total dollar (IT outsourcing) dependent economy and Israel is our biggest defense contractor.
That is how it is on the ground. Brazil? Please. SA? seems to be going down pretty hard, still in post aparthied sell-out black people's grip (since Mandela, day 1).
More Kabuki.
Something is dying, perhaps SWIFTLY?
https://aadivaahan.wordpress.com/2014/05/15/mera-bharat-mahaan-ahhhaaaah...
The USA is driven by politics, but Russia is playing for the win. Their hand really isn't that strong, but it doesn't have to be with President Zippy and Ketchup-Boy on our side.....
Russia's hand in its sphere of influence is much stronger than the USSA. The State Department and CIA can overthrow the Ukie government in 2014, but can't win wars against Novorossiya, and Proconsul Nudelman has utterly destroyed the Ukie economy.
Moreover, partnered with China, India and other BRIC's nation, Russia can stand up to the Global Bully. No wonder the Neocon's continue to foam at the mouth over Putin.
Maybe I am naive but it seems like Russia and Putin's approach to countries is - let's be friends, lets trade to help each other.
The USAA is telling people what to do, threatening countries, then color revolutions, assasinations, and wars.
How has the US been towards Christians in Egypt and Syria versus Putin and Russia? Iran and Hezbollah have treated Syrians and Syrian Christians better than the USA and their proxies.
The US actions have been a nightmare for Christians in Iraq.
Russia, like other countries are looking for advantage, but that's normal in the real world. The USA however has become world bully and demand the right to determine the course of the world in all ways. Obutthead&co. are pushing an agenda that requires subservience and Russia doesn't want to play and they are big enough that they can stand off the US. Also, they are picking up allies who don't want to play either.....
Freddie, this is how Putin operates, as a businessman in a business like manner. Meanwhile the USSA is run as a mafia kleptocracy.
China and Russia will be facing increasingly restless domestic populations, they're going to come out of any crash much worse because nobody outside their territorial border have any confidence in their economies. Why do you think their own rich flock to London, New York and Vancouver?
russian economy will crash . US yellow press followers arent done with that meme yet ? Ignorance is Bliss .
The Russian government is no less bureaucratic than the cancer in D.C.. Don't fall for the cheerleading. Neither the USSA nor Russia are good for liberty. Don't let your hate for D.C. make you casually ignore the real problems in Russia.
It is the pathology of power that drives states to greater and greater hegemony. Given the opportunity, the Russians and the Chinese would end up with the same deficit and interventionist foreign policies of the USSA. It happens to every empire.
"Why do you think their own rich flock to London, New York and Vancouver?"
To be with their fellow elite criminals?
And so, the NWO advances another step forward...looks like this guy was right: http://redefininggod.com/understanding-the-nwo-strategy/
Brandon Smith was dead-on, too.
Time to start printing our own bux, guys!
But... but... but... Russia is isolated!
And getting more isolated by the day /sarc off, LOL. Take a look at a map of the world. Russia covers one sixth of the worlds entire landmass.
Unfortunately the State Dept. fools are products of common core, and wouldn't know how to read a map. Russia needs the west much less than the West needs to steal oops access Russian resources, including the worlds largest deposits of Nat Gas and Oil
Before you go trashing other people's educational achievements, why don't you take a look at a map and you'll see that Russia doesn't cover 1/6th of the world's landmass.
It would like to get back all of the former Soviet territory it lost on account of losing WWIII to the American-led alliance but that ain't happening.
I know the list is always shifting, but the last time I looked Venezuela had the world's largest oil reserves, for all the good that it does them. Russia is like 8 or 9 on the list. Russia did have the largest gas reserves but I haven't seen a recent post-frack estimate.
Tarabel, I stand corrected, it is 1/8th, not 1/6th. I forgot to include Antarctica
Also, WRT to Oil, per Wikipedia, Russia is #8. Note however, that Venezuela is is #1 but unlike Russia, nearly all of it's oil reserves are heavy tar sands. Most of Canada's oil is also locked up in Tar Sands. The ME countries are notorious for overstating their reserves, with many countries failing to update their numbers for decades. Saudi Arabia, for example, has not updated since at least 1990, and proves no third party verification. This is because OPEC oil production quotas are based on size of a countries reserves, thus creating the incentive to artificially boost reserve holdings.
Russia is still #1 when it comes to Nat Gas, but Fracking may have altered that standing.
http://www.hydrocarbons-technology.com/features/feature-the-worlds-bigge...
Russia’s Top 10 ExportsThe following export product groups represent the highest dollar value in Russian global shipments during 2014. Also shown is the percentage share each export category represents in terms of overall exports from Russia.
http://www.worldstopexports.com/russias-top-10-exports/2350
Tarabel, I stand corrected, it is 1/8th, not 1/6th. I forgot to include Antarctica
Also, WRT to Oil, per Wikipedia, Russia is #8. Note however, that Venezuela is is #1 but unlike Russia, nearly all of it's oil reserves are heavy tar sands. Most of Canada's oil is also locked up in Tar Sands. The ME countries are notorious for overstating their reserves, with many countries failing to update their numbers for decades. Saudi Arabia, for example, has not updated since at least 1990, and proves no third party verification. This is because OPEC oil production quotas are based on size of a countries reserves, thus creating the incentive to artificially boost reserve holdings.
Russia is still #1 when it comes to Nat Gas, but Fracking may have altered that standing.
http://www.hydrocarbons-technology.com/features/feature-the-worlds-bigge...
Russia’s Top 10 ExportsThe following export product groups represent the highest dollar value in Russian global shipments during 2014. Also shown is the percentage share each export category represents in terms of overall exports from Russia.
http://www.worldstopexports.com/russias-top-10-exports/2350
when listening to media broadcasts you must apply your Orwellian filter app and then you'll understand, or if you don't have the app, just reverse the meaning of the statement.
exp.
type in Russia is isolated
the app spits outs;
Russia is not isolated
then switch the app to double Orwellian and you get;
USa is isolated
So this Russian alternative to SWIFT, is more of an upgrade to BESP. Its hardly fucking ground breaking.
It's just about sending a message.
That USA initiated sanctions hurt Europe but do not hurt the USA nor the target of the sanctions.
The Russian economy is contracting at a rate or 1.90%. Its hurting Russia, Europe and the US in that order.
The US economy is contracting faster than the Russian economy. But neither contraction has anything to do with sanctions.
Do you think Russian programmers together with Chinese, Indian, European and other programmers cannot write a messaging system software program to clear bank transactions?
It "ain't" that hard.
definitely overexposed - fukushima flatulance
If you have a powerblock as big as the EU and the U.S. the rest of the world doesn't matter very much.
Doesn't matter to EU/US maybe.
But sure as heck matters to the rest of the world.
It's not like behemoths have not died before. It's just that zombies are kind of hard to put down, if you get my drift.
Zee Ma Tricks....
Really NS? 1.4 Billion Chinese, 1.1 Billion Indians don't matter? I suggest you check the Labels of most of the products you buy for their Country of Origin. Don't let GNP numbers fool you, most of the USSA GNP is composed of trading in debt markets, instead of industrial production.
...who are all utterly reliant on exporting into the EU / US .
And the USSA/EU is utterly reliant on Chinese exports. Shop in Walmart lately? Or use an Iphone?
All the innovation comes from EU / US, the others copy and hang on to the coat tails. The mistake was to assign, in Toffler style, industrial production to the east, but that can be returned to America at the expense of a rise in inflation, but the benefit of more employment. The losers of a trade war would be those outside the EU / US. I do understand it's chic to be anti on this website.
all innvation is being done by usa and eu rest only copies . Thanks for showing your ignorance genius .
Chine copy, yes but less than past
Russian Federation leads in very many fields
better worry about your own country
I worry more about the government than I do about the country itself.
If we could get them to play on our team rather than on someone else's team, we'd be tearing everyone a new asshole.
in case you haven't noticed you are sounding dumber by the post lol
The last time I was in WalMart looking for some thread, it was impossible to find any that was made in China. I always look at the labels. On the retail level, the penetration of Chinese products into the US markets has definitely peaked and is currently subsiding. This phenomenon is even more pronounced in other slightly-higher-end venues such as Home Depot or Lowes.
A "Made in China" label is like putting a big "Infected with Ebola" sticker on the product and even those who do sell Chinese products are now going to great lengths to hide the country of origin as much as humanly possible.
That tells you all you need to know about the future prospects of Chinese manufacture for export.
But, no, I wouldn't use an iPhone if I was a paid product tester.
where was your phone(s) made? assembled? parts manufactured?
Not in Russia, if that's what you're wondering.
But to answer your question seriously, I assume it's all or mostly all from China.
I repeat my original premise-- that China has peaked in terms of market saturation and has no place to go but downhill. A near 100% market share means that there is only one way to go from here.
I've seen Chinese barbed wire take over the entire market-- and then disappear because it was shit and people got wise and became willing to pay a few bucks more for something that was capable of actually doing the job it was designed for.
I've seen Chinese lumber make serious inroads into the North American fence lumber market-- and then disappear because it is useless white cedar which warps like a swizzle stick and rots like cheap pine rather than red cedar.
I've seen Chinese thread push everyone out-- and then disappear because it breaks as soon as you put any pressure on it.
I've seen Chinese tools that nearly extinguished everyone's domestic manufacturing facilities-- and is now increasingly invisible.
The list of former Chinese goliath products is long and getting longer by the day.
To everything there is a season. They've had their run at glory and those days are now gone. China is stuck in a very hard place-- with stratospheric expectations among the populance and rapidly diminshing ways of satifying those hopes without surrending the control they most covet. Their need to control and their need to provide a better life are, as is always the case with central planners, going onto the rocks.
.. were reliant ..
Now they already have all the greenbacks they will ever need. No need to earn more. (Doesn't mean they won't earn more, but so doing is an optional bonus).
in case you haven't noticed it is changing
I buy a lot of stuff, parts and materials and suchlike things, and the China boom is definitely over.
Doesn't mean it's gone, just slowly ebbing away in contrast to the previous decade of annihilating competitors worldwide.
Anybody who is reluctantly forced to buy a Chinese product knows they will live to regret it and only hopes that it lasts long enough to get the job done. Always best to buy two. That way, one might not fail during the installation process. In some cases, like Chinese-built hose clamps, you want three or four for every one you need.
And we get their good stuff because they covet the fx. The crap goes to the domestic market.
Ha! Oh no you DON'T - get their "Good Stuff".
You get what your middlemen can STILL sell for a profit, whilst still skimming their "fair share" for doing diddly.
The Chinese are VERY quality-conscious, and the stuff you can buy locally (i.e. NOT for export) is often of a much higher quality than their "export" produce. Their Industries can produce just as good quality as the West (their recent Moon landing attests to this), however the West prefers to continue the "cheap Chinese crap" meme, whilst the very smart Chinese use Western currency to continue to upgrade their technology / manufacturing capacity, in return for the West's continued willingness to buy all that "cheap Chinese crap".
We buy it, so there's obviously a market, so they'll sell it to us. Agilent / LeCroy are very happy to rely on China for their "bottom end" products (which they can sell for a 3 x mark-up on the Chinese badged direct equivalent), and these "big name" companies are presumably not in the business of deliberately damaging their reputations.
Hey PubianShillprance...we matter considerably more than you and your conceited, delusional opinions of self-important exceptionalism. You fascist prick.
in case you haven't noticed, it's falling apart.
The truth about the conflict with Russia >> http://wp.me/p4OZ4v-1Gm
Come on, Putin fanboys. Haven't you seen this story before? Same crime, different thieves. Say no to centralization. The currency block will end like the Euro. You can like/hate putin all you want, but surely you agree this centralization of power is a terrible development for individual liberty
I am not a Putin fanboy. I am merely pointing out certain implications. Personally, I wish a pox upon all Banksters and centralized currency systems.
Read carefully. The shared currency is a long term proposal. Not something for the near or medium term. But something it is proposed to study and be prepared for if and when the time is right.
Meanwhile the "BRICS bank" will produce something comparable to the SDR - a basket of BRICS member currencies.
I still don't see how they can avoid what happened to the EU. Let's not kid ourselves: criminality knows no national boundaries. There is no good reason to centralize the currencies. Allow them to fluctuate as that is an indication of that particular region's competiveness. For example, the Italians were lazy and couldn't outproduce Germany, but their Lira kept going down which allowed them to compete with Germany. Now, not so much. Allow the currency to blow off economic pressure instead of bottling it up in a single currency. A currency union is only one thing: a bureaucratic power grab
Just like the USD...
Centralization of political power in the former USSR actually makes sense. The only winners from Russia's dismemberment were Western banksters who preferred have 15 nations they could divide and rule (and cheat out of their resource wealth) than one. Belarus, Armenia and Kazakhstan would rejoin Russia tomorrow if asked. Their people's future is with Russia.
By contrast, the peoples locked in the prison of the EU have no future, except as debt-peons of a German government over which their practical influence is nil and which has an understanding with the US that Uncle Sugar will carpet-bomb any one of them into submission who complains too much about debt, austerity or Islam. Seventy years ago the Germans would have happily gassed most of them, but now they'll settle for making them so miserable they stop reproducing.
In the old days their replacements might at least have been reasonably intelligent white Germans. Today's Germans can't be bothered even with children---debt-slaves and Turks will pay their pensions, they're sure---ensuring that your typical EU member will be ungovernable except by an Islamic state by 2050.
Put it this way. The ruble is backed with gold. The euro? Weapons-grade plutonium.
"the Turks will pay their pensions" ???
With what, their welfare cheques?
Not a fan of BRICS, perfer to exucute the Federal Reserve government swindlers and save the US universal currency status.
I am a fan of America. The fraud, systematic abuse, and intimidation tactics we read about are not Fucking American. These are the actions of a rogue psycopathic leadership. That will get us all killed if this shit continues too much longer.
The other clusterfuck, default on China's debt. It will clear the leger slate. Watch and learn.
Unipolar world of the 1980s?
What idiot thinks that the climactic years of the Cold War were "unipolar"?
I mean, apart from the clueless moron who wrote that sentence?
Empire of Evil RIP 1991
Dont worrry your nation is the evil empire or empire of chaos now .
Ukrainians in Kiev are dumb fucking boneheads! Fuck the IMF and fuck the EU!
Despite some of the crazy stuff that comes out of Jim Willie's mouth, every single thing that man has said about currency and gold in the last few years has come to pass.
Whatever it takes to bring down the NWO neocon fascists at this point is a good thing.
The only question now is who is Zion is going to bomb/invade in retaliation?
My fiat is on the one with the most gold.
Liberty is a demand. Tyranny is submission.
This photograph will be remembered for decades(or centuries) to come , and taught to MBA & Economics students about how the money to be managed & mismanaged.
Remember : Wealth = Goods & Services = Human Satisfaction
Money is only an *instrument* to represent these in numerical terms.