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Post by blackfeather on Nov 15, 2015 21:50:04 GMT
An important step for the Yuan and I fear dethroning the dollar. We will know more November 30th.
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Post by Ozarks Tom on Nov 16, 2015 0:25:27 GMT
Wait a minute, let me get this straight. We've got veto power over a decision that would make the yuan equal to the dollar in international trade, and we're going to let the IMF's review be our guide? What about doing something for once in our own national interest?
China is a basketcase, and that's going by the best numbers China can come up with. We're in terrible shape too, but at least we've got the dollar as the international reserve currency. When that's gone, so are we.
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Post by blackfeather on Nov 16, 2015 0:54:25 GMT
Yep, I expect that once the Yuan has reserve currency status you'll see a petro-Yuan with in a year or so. Because we are printing (or should I say mouse clicking) money into existence on a regular basis there is concern among dollar holders that their treasuries are going to inflate away in value. There is a pent up demand for an alternative. Secondly the US uses the SWIFT system as a weapon so countries are looking for an alternative. China has just gotten their CIPS (Chinese international payment system) up and running and to gain acceptance needs to be part of the IMF SDR basket. Add to this the Asian infrastructure and investment bank, and the BRICS bank, plus yuan hubs and swap facilities now all over the world and they have most of the alternative banking platforms in place. I keep reading the majority of the gold is moving east. The golden rule: "He who has the gold makes the rules."
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Post by sawmilljim on Nov 16, 2015 2:12:53 GMT
China has been selling off US bonds and buying yuan .Russia has a bill up denouncing any further dollar transactions .At some point other countries will wake up to the fact their dollars will buy less every day ,then sell of theirs too. That means game over for the dollar .
The Gov. and the bankers need a war to blame their theft of wealth of the people for .
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Post by Deleted on Nov 16, 2015 17:21:59 GMT
Egypt is also participating in this. Going to be interesting to see how their plan plays out. Nothing we can do about it, just watch the train as it gets closer to being a wreck.
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