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re: Beginning of the End of U.S. Dollar Hegemony
Posted on 7/17/14 at 4:09 pm to Swampeast
Posted on 7/17/14 at 4:09 pm to Swampeast
quote:
The recent Russo-Sino gas deal wasn't in U.S. dollars and the Chinese, Russians and Indians are buying as much gold as they can get their hands on.
My response as well.. so what?
US dollars are still far and away the primary currency used for trade and financial transactions (euro/yuan not anywhere remotely close). The dollar has been the most stable in its history following the crisis, even China has been increasing their buying of longer dated US notes and bonds because even they admit "there isn't a market deeper and more liquid in the world". The dollar doomers really need to do their homework before they declare an imminent end to the dollar's reserve currency status.
I bet you think the dollar has weakened since the beginning of QE, huh?
quote:
Speaking of precious metals tell me how the repatriation of the German's bullion from the Federal Reserve Bank back to Deutsche Bundesbank is going.
Same as it was before the made they original annoucement and exactly like it was after the decided to nix the transfer... irrelevant. Completly and utterly irrelevant to the global financial system.
Posted on 7/17/14 at 10:27 pm to BennyAndTheInkJets
Benny, legitimate question (I haven't been keeping up with this lately, and you will probably know)...
Is the Bank of China still holding a ton of dollars? Do they have any known plans to start selling them off, if they haven't already?
Is the Bank of China still holding a ton of dollars? Do they have any known plans to start selling them off, if they haven't already?
Posted on 7/18/14 at 12:30 am to BennyAndTheInkJets
quote:
BennyAndTheInkJets
I'll tell you what. As I write the price of gold is $1313.80. Since you have so much faith in the U.S. dollar I will pay you exactly that - $1313.80 - for every ounce of pure gold that you can deliver.
Would you like some of that action? Put up or shut up.
ETA: The same offer applies for pure silver at $21.02 per ounce.
This post was edited on 7/18/14 at 12:37 am
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