US dollar set aside - China, Russia trade in local currencies

LEPRecon

There is nothing wrong with this, of course until market forces get to work. China's currency is kept at an artificial rate, which means that countries involved in these deals don't get the true value when trading etc..., and Russia's currency is in free fall at the present, which means China will dictate what they are willing to pay.

So it's a win-win for China, and Russia once again shows its desperation.

Dec 30th, 2014 - 09:00 am - Link - 0

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Brasileiro

Dollar fluctuations show how it is artificial. The dollar is not an item of magnitude and stability in international trade. Currently the dollar is housed in a concept of pure speculation.

The United States with a debt of 18 trillion dollars and growing, is a time bomb for world trade. Moreover, no country remains standing for a long time with this level of budget deficit.

China and the BRICS are doing the right thing. I remember the biblic passage about David and Goliath.

https://www.youtube.com/watch?v=5ya6xLPA6dE&list=FLmXPTu1f8AdGlizWNiASx2A

Dec 30th, 2014 - 10:25 am - Link - 0

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yankeeboy

Its so insignificant who cares?

China is about ready to collapse I doubt it will even have the same borders in a decade.

2. BRICs? You must be the last retard even talking about those bunch of losers.

Dec 30th, 2014 - 01:19 pm - Link - 0

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Skip

The BRICS are a dated idea and concept with nothing in common other than an inferiority complex. BRICS are not as a group shaping anything. Brazil and Russia are in recession. China is reaching the limits of its growth and about to suffer it's well earned demographic disaster. Indians just keep making babies and not jobs or infrastructure. And South Africa...... well who hears much from there.

The Chinese currency is a global currency. No one can deny that. And using it for trade is logical. However no one trusts it enough to use it as an asset because the corrupt and extremely rich kleptocracy that runs China controls its exchange rate and not the market.

Also poor Brasileiro should learn the difference between deficit and debt. Only about $5 trillion of the U.S. debt is owed to other countries - or 30% of GDP. The same amount is actually owed to itself.

Who does Brazil owe its 57% of GDP to? Watch that grow with Dilma's hand in the purse and Brazil's growth boom over and done with.

Dec 30th, 2014 - 03:53 pm - Link - 0

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Captain Poppy

Skip Brasileiro needs help spelling his middle initial A......care to help the poor idiot?

Oh....and, it's A for asshole. Brasshole Asshole Idiot.

Dec 30th, 2014 - 04:35 pm - Link - 0

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Paragon

China could deal a lethal blow. Choosing a time of heightened concern or disruptions in US financial markets, China could dump its trillion dollar plus holdings of US treasuries, or indeed all its holdings of US financial instruments, on the market. The Federal Reserve and the US Treasury could try to stabilize the prices of US financial instruments by creating money with which to purchase the bonds and other instruments. This money creation would increase concern about the dollar’s value, and at that point China could dump the trillion dollars plus it receives from its bond sales on the exchange market. The Federal Reserve cannot print foreign currencies with which to buy up the dollars. The dollar’s exchange value would collapse and with it the dollar’s use as world reserve currency. The US would become just another broke country unable to pay for its imports.Possibly, Washington could get Japan and the European Central Bank to print enough yen and euros to buy up the dumped dollars. However, the likelihood is that this would bring down the yen and euro along with the dollar.It is possible that Russia, China, and the rest of the world will be saved by American economic collapse. The US economy is a house of cards. Real median family incomes are in long-term decline. Universities produce graduates with degrees and heavy debts but no jobs. The bond market is rigged by the Federal Reserve which necessitates rigging the bullion markets in order to protect the dollar. The stock market is rigged by the outpouring of money from the Federal Reserve, by the Plunge Protection Team, and by corporations repurchasing their own stock. The dollar is supported by tradition, habit, and currency swaps. The American House of Cards continues to stand only as a result of the tolerance of the world for vast corruption and disinformation and because greed is satisfied by the money made from a rigged system. Russia and/or China could pull down this House of Cards whenever either country

Dec 30th, 2014 - 05:31 pm - Link - 0

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yankeeboy

6. You just won the stupidest post of the week.
You Sir are an idiot.

Dec 30th, 2014 - 06:51 pm - Link - 0

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Captain Poppy

In the words of the great SMokey Robinson.....I second that emotion yb. How the fuck can someone be as stupid as #6 to say something that they obviously are totally and utterly clueless?

#6..............keep your head up your ass.....it makes a perfectly fitting aftershave cologne for you.

Dec 30th, 2014 - 07:04 pm - Link - 0

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Brasileiro

@ 6 Paragon

The United States has his tail stuck to BRIC. These four countries have 4.6 trillion dollars in treasuries. When these countries resolve trade in their own local currencies, there will be no need to keep that money stopped in the United States.

Ten years ago there was no trade between BRIC in local currency. Today 25% of trade is done without the presence of the dollar. 2020 will be 90%. The increase in international reserves of these countries is directed to local currencies.

The slow death of the West and its loss of importance is unquestionable. In the past Russia would already be on his knees economically. What we see today is that the “poor” countries do not care more about the Western.

United States and Europe are getting in the past, whether you like it or not.

Dec 30th, 2014 - 07:38 pm - Link - 0

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ChrisR

@ 6

Yes, China could do all of the things you say is possible, but why would it castrate itself?

China is facing a serious shortfall of young women, the production serfs are getting the feel for western pay scales, the companies who abandoned their in country suppliers are finding out how difficult it is to keep the chin on target for quality production and more and more are bringing their products back to their own country if they wish to survive.

The Chin have yet to learn about customer support for their own products such as cars and other high value goods. Here in Uruguay I have personal experience of the small Chin cars that are used for rental to the detriment of Chevrolet Argentina and theirs is bad enough.

These things are nowhere near the quality that even the low prices they sell for would demand. Wheel nuts loose due to design / production faults, bits dropping off the things when you use them AND, just try to get parts, it’s impossible.

My friend’s nephew wanted a new car but could only afford a Chin made one. He ran it for a week and had a number of problems with it that had jaded his new car, but the worse was to come. Uruguay is known for serious rainfall which dries up within a few minutes once the rain stops. This guy parked his car on the road outside a friend’s house during one such deluge. Next morning he went to start it but nothing worked, the floor covering was also soaked. It turned out that the car had flooded and drained BUT the real problem was the ECU was mounted under the passenger’s seat and it had also been flooded. The supplier did not want to know so he had the car recovered and delivered to their showroom and asked them WHY the ECU was water logged. The reply was beyond anything I have ever come across: they told him he must have driven it into a SWIMMING POOL!

I am waiting with baited breath for the next step because they ‘washed’ their hands off the car. He is consulting his brother who is a qualified lawyer.

Do y

Dec 30th, 2014 - 08:05 pm - Link - 0

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Captain Poppy

Brasshole, we've all known that intellect is not you strong suite, now we also now that math is once again another weakness of yours. Brazil does not even come into the top 5 foreign USA debt holders:

I hope these figures help Brashole A. Idiot.

http://www.treasury.gov/ticdata/Publish/mfh.txt

You should be shoot for being as stupid as you are. Send me your address and I mail you a bottle of hair oil.....you can always pretend.

mine is m.cher1160@outlook.com

http://www.treasury.gov/ticdata/Publish/mfh.txt

and

http://www.treasury.gov/ticdata/Publish/mfh.txt

and

http://www.treasury.gov/ticdata/Publish/mfh.txt

Rain? I always knew you were a wethead

http://www.treasury.gov/ticdata/Publish/mfh.txt

and of interest to you brashole:

http://www.treasury.gov/ticdata/Publish/mfh.txt

My God where does it end?

http://www.treasury.gov/ticdata/Publish/mfh.txt

???

http://www.treasury.gov/ticdata/Publish/mfh.txt

SO much for retiring in Brazil:

http://www.treasury.gov/ticdata/Publish/mfh.txt

And....not to exclude you BRIC heads

http://www.treasury.gov/ticdata/Publish/mfh.txt

Dec 30th, 2014 - 08:12 pm - Link - 0

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Brasileiro

Just as we were the last frontier of the West, while we were allies, today we are independent enough for us not to be part of YOUR world.

We are equal to Paraguay! Or life is our way, or not worth living!

Therefore, our way of life and our sovereignty is priceless. If China, Russia and the IBSA help us build our future, it is only fair that we help them to build their future.

Long live BRICS!

Dec 30th, 2014 - 08:27 pm - Link - 0

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Skip

Brasileiro is so stupid that he thinks because some countries have banded together under an acronym invented in the WEST that this somehow gives them some clout. The BRICS don't trade enough with each other. They all do more trade with the EU and US so these are the markets they want to protect.

As for Paragon @6. I wonder if this brainiac is here to stay. China would enter a depression if it did what he proposes. China is mercantilist. It needs to suppress its currency because it needs to export. If it crashed the U.S. economy then it would lose its largest export market. The corresponding rise in its currency would price it out of many others pretty quickly.

China needs the EU and US more than erratic Russia or incompetent Brazil.

The west is not China's enemy. But that doesn't mean that Brazil is China's friend.

Dec 30th, 2014 - 08:31 pm - Link - 0

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Paragon

What I posted was written by an american, Paul Craig Roberts, President Reagan appointed Dr. Roberts Assistant Secretary of the Treasury for Economic Policy and he was confirmed in office by the U.S. Senate. From 1975 to 1978, Dr. Roberts served on the congressional staff where he drafted the Kemp-Roth bill and played a leading role in developing bipartisan support for a supply-side economic policy. After leaving the Treasury, he served as a consultant to the U.S. Department of Defense and the U.S. Department of Commerce. Dr. Roberts was awarded the Treasury Department’s Meritorious Service Award for “his outstanding contributions to the formulation of United States economic policy.”

In 1987 the French government recognized him as “the artisan of a renewal in economic science and policy after half a century of state interventionism” and inducted him into the Legion of Honor.

He is listed in Who’s Who in America and Who’s Who in the World. http://www.paulcraigroberts.org/pages/about-paul-craig-roberts/ but all really a waste of time for most of you morons on here, I comment very little here due to this level of inteligence, attack the messenger not the message lol Yankeeboy you should change your name to Chicagoboy, lol if you get my drift lol

Dec 30th, 2014 - 08:32 pm - Link - 0

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Skip

So what. It is still crap doesn't matter how 'important' some people think he is.

China needs the west. Suck it up and you'll be happier.

Dec 30th, 2014 - 08:36 pm - Link - 0

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Brasileiro

Brazil Trade:

South America: 35%
China : 18%
Europe W. : 17%
USA : 14%
CPLP : 4%
Others : 12% (Africa, Oceania, North America (except USA), Caribbean), etc.

Make yours counts!!!!!!

Dec 30th, 2014 - 08:44 pm - Link - 0

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Paragon

More bad news, lol, Tell it like it is. check the graphs of Comex futures. The financial markets are becoming increasingly pressured by declines in emerging market currencies, insolvent sovereign governments–including here in the US–and perhaps a renewed derivatives crisis triggered by the collapse in the price of oil. The oil price decline could result in derivative problems larger than the subprime mortgage derivatives of the 2008 crisis.

The downward manipulation of the prices of precious metals prevents the “crisis warning transmission system” from properly functioning. More important, the decline in the price of gold/silver vs. the U.S. dollar conveys the illusion that the dollar is strong at a time when, in fact, the dollar should be under pressure from the over-issuance of dollars and dollar-denominated debt.

What we have been experiencing since the 2008 crisis is not only the subordination of US economic policy to the needs of banks “too big to fail,” but also the subordination of law and the financial regulatory agencies to the interests of a few private banks. The manipulation of the bullion markets is illegal whether done by private parties or on public authority, and so we have the spectacle of the US government supporting a handful of banks via illegal means. Not only has economic accountability been set aside, but also legal accountability.

Just as Washington places itself above laws prohibiting torture and naked aggression in order to conduct its self-declared “war on terror” and above the Constitution in order to construct a domestic police state, Washington places itself above the laws prohibiting market manipulation.

Obviously, the government’s claim to represent the rule of law is as false as all its other claims. The foul stench of corruption and hypocrisy that emanates from Washington is the smell of a dying country. http://www.paulcraigroberts.org/2014/12/22/lawless-manipulation-bullion-markets

Dec 30th, 2014 - 09:28 pm - Link - 0

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Brasileiro

Olá Paragon, where are you from? What's your nationality? Do you are from South America?

Dec 30th, 2014 - 09:36 pm - Link - 0

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Paragon

@18 No, No soy de América del sur, soy un ciudadano del mundo

Dec 30th, 2014 - 10:40 pm - Link - 0

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Brasileiro

Obrigado.

Dec 30th, 2014 - 10:46 pm - Link - 0

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Captain Poppy

Paragon. You sound like Warren. Well put together.....but paganism usually does and in the the......it is still shit no matter the wrapping.
Oh yeah.....and Brass hole is from Brazil.......not Spanish.

Here in the US.........lll.sure. ok. where?

Dec 30th, 2014 - 11:28 pm - Link - 0

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Paragon

@21 Here in the US ? read the full article it was a copy and paste lol. but must admit its getting late here byeeee.

Dec 31st, 2014 - 12:11 am - Link - 0

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Captain Poppy

Aahhhhj. Ok.....my apologies as I assumed you were claiming to have typed it out. Caio

Dec 31st, 2014 - 12:17 am - Link - 0

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Skip

Paragon. Another “citizen of the world” that is ashamed of his nationality. Yes yes the west and the US will fall. If only I had a dollar for every crackpot that had predicted that.

What year will it happen if you are so confident? Amazing how confident predictions evaporate then they need to follow them up.

And Brasileiro..

STOP BLOODY LYING YOU FOOL!

You do this all the time. You just make shit up. I put it down to your inadequate dedication.

Brasileiro's statistics for Brazilian trade: “South America: 35%”

Actual for 2013:
Argentina 7.5%
Chile 1.8%

So somehow the rest of South America needs to equal 25.7% without any country exceeding 1.8%. I don't know how mathematics works in the YouTube world of Brasileiro, but that is a mathematical impossibility.

And the EU with 20.5% beats out that supposed BRICS ally China with only 17.2%. Add in the US at 12.8%. That's US/EU with 33.3% beating out the BRICS that can hardly scrap past 20%.

Dec 31st, 2014 - 12:25 am - Link - 0

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yankeeboy

Stevie used to say he was a citizen of the world too.
He was also a retard.
And a cry baby.
Coincidence?
Probably not.

Dec 31st, 2014 - 12:44 am - Link - 0

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Brasileiro

@24

You're dumber than I thought. I suggest you make your searches in the following sites:
- Associação de Comércio Exterior do Brasil - AEB
- IMF
- World Bank
- CELAC
- Mercosul
- Unasul
- Câmara de Comércio Brasil-Argentina
- IBGE Países
- MDIC
- Secretaria da Receita Federal

You also should not forget to compute the trade in local currency given that the dollar has been losing ground rapidly in international business transactions.

Dec 31st, 2014 - 05:11 am - Link - 0

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Captain Poppy

http://atlas.media.mit.edu/profile/country/bra/

Screaming at the top of your lings the clouds are falling simple will not make ....the clouds fall from the sky. Better luck in your next life.

Dec 31st, 2014 - 10:22 am - Link - 0

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yankeeboy

It funny how many stupid people read “alternative news” sites and believe the crap they post.

How does this little unknown site get so many crackpots?

The worst people to deal with are stupid people who think they are smart.

Dec 31st, 2014 - 01:03 pm - Link - 0

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Stevie

Paragon, you hit a nerve... Got the dogs barking :))))

Dec 31st, 2014 - 02:07 pm - Link - 0

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Brasileiro

Olá Stevie, I wish to you much peace, love and health in 2015.

Happy New Year!

For All.

Dec 31st, 2014 - 02:26 pm - Link - 0

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yankeeboy

I love when sockpuppets support each other.
Its so clever
and no one realizes it

If you don't think the crazy comes through no matter what your nick is your dumber than I thought.

Dec 31st, 2014 - 03:35 pm - Link - 0

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Captain Poppy

Yeah but it is usually the same puppet with a different mask.

Dec 31st, 2014 - 04:05 pm - Link - 0

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ChrisR

Yankeeboy

Yes, you beat me to it: Stevie.

Dear me, will no one rid me of this troublesome idiot?

Apologies to Shakespeare.

Dec 31st, 2014 - 04:10 pm - Link - 0

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yankeeboy

My bad...

Speak of the devil and he doth appear

Dec 31st, 2014 - 04:48 pm - Link - 0

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Captain Poppy

You think he just was released......or sick of his other screenname?

Dec 31st, 2014 - 05:06 pm - Link - 0

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Paragon

Do not confuse me with being someone else least of all a south american I just shook up your private little club of opinionated uninformed morons. Your Herd mentality is amusing. One tongue in cheek comment about what China could do started the ball rolling lol. The second of my posts was to show the corruption and illegality of Washington and the Fed and on cue the Herd reacted in unison, but these are facts about the Comex Futures and manipulation of the bullion markets to support a weak dollar. no one responded to that lol but you morons have no real idea about what is actually happening on the ground. The Herd responds with sock puppet, The Herd thinks its someone posting with a different identity. Jesus H Christ you people need to get out more. Could say more but its getting near party time, just have not got anymore time to dally here lol

Dec 31st, 2014 - 07:04 pm - Link - 0

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Captain Poppy

You did well until your assumptions.

m.cher1160@outlook.com......shall we dance.......or you can just stay here and hide and cower.

Next time I will wash my dick when you decide to blow me.

Dec 31st, 2014 - 07:22 pm - Link - 0

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