- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Russia and China bypass US dollar.
Posted on 5/21/14 at 1:03 am
Posted on 5/21/14 at 1:03 am
LINK
quote:
Russia and China took a small step toward undercutting the domination of the U.S. dollar as the international reserve currency on Tuesday when Russia’s second biggest financial institution, VTB, signed a deal with Bank of China to bypass the dollar and pay each other in domestic currencies.
8
Posted on 5/21/14 at 1:04 am to darkhorse
Russia needs cheap stuff, too.
Posted on 5/21/14 at 1:06 am to darkhorse
a banana republic economy the size of Italy and a Communist state-controlled market economy aren't going to bring down the US dollar.
The Fed might, though.
The Fed might, though.
Posted on 5/21/14 at 4:55 am to darkhorse
Well the Ruble isn't worth the paper its printed on now and its just going to get worse.
That and China over inflates the worth of their money.
This doom and gloom shite cracks me up.
That and China over inflates the worth of their money.
This doom and gloom shite cracks me up.
Posted on 5/21/14 at 5:24 am to darkhorse
The Ruskies and Chi-coms have been trying to do this for decades.
If we had a real President we would get the Saudi's to start opening up the oil spigots causing an oil glut
.
The US could start dumping cheap natural gas onto the European markets. This would bankrupt to Russians as their economy is huge in the oil & gas.
Furthermore, the US could start slapping tarriffs & duties on the cheap crap that China imports to the US.
I don't see either happening with this current fool in the WH.
If we had a real President we would get the Saudi's to start opening up the oil spigots causing an oil glut
.
The US could start dumping cheap natural gas onto the European markets. This would bankrupt to Russians as their economy is huge in the oil & gas.
Furthermore, the US could start slapping tarriffs & duties on the cheap crap that China imports to the US.
I don't see either happening with this current fool in the WH.
Posted on 5/21/14 at 8:10 am to Reubaltaich
China and Russia would both be kissing USA's arse right now if Romney had won.
Elections have consequences. But hey! There's free phones and gay marriage. You know. The really important stuff.
Elections have consequences. But hey! There's free phones and gay marriage. You know. The really important stuff.
Posted on 5/21/14 at 8:11 am to darkhorse
China would be very stupid to try and "undercut" the dollar wouldn't they since they have a $trillion or so on loan to us at this time.
Posted on 5/21/14 at 8:13 am to darkhorse
And so it begins
Posted on 5/21/14 at 8:22 am to notiger1997
quote:
China would be very stupid to try and "undercut" the dollar wouldn't they since they have a $trillion or so on loan to us at this time.
Russia and China have each dumped $50 billion since October. But little Belgium has managed to take up the slack buying over $140 billion, almost %30 of it's GDP.
Mr Yellen must have a cousin in Brussels.
Posted on 5/21/14 at 8:35 am to darkhorse
Other nations as Iran and Venezuela will join that coalition in a short time.
Posted on 5/21/14 at 8:37 am to HubbaBubba
quote:
China and Russia would both be kissing USA's arse right now if Romney had won.
Posted on 5/21/14 at 8:40 am to darkhorse
quote:Please explain to us, in macroeconomic terms, the possible significance of Russia's and China's decision. Thanks.
Russia and China bypass US dollar.
Posted on 5/21/14 at 8:41 am to CITWTT
quote:
Other nations as Iran and Venezuela will join that coalition in a short time.
Irony:
China pins the RMY to the Dollar.
If China fools around and loses that ability, it would be hilarious.
Posted on 5/21/14 at 8:46 am to CITWTT
quote:Doing what?
Other nations as Iran and Venezuela will join that coalition in a short time.
Posted on 5/21/14 at 8:54 am to LSURussian
quote:
Doing what?
Posted on 5/21/14 at 8:57 am to LSURussian
quote:
Please explain to us, in macroeconomic terms, the possible significance of Russia's and China's decision. Thanks.
$13B/year? Very little.
Posted on 5/21/14 at 9:08 am to constant cough
And alot of people don't even get it either.
Posted on 5/21/14 at 9:10 am to darkhorse
quote:
And alot of people don't even get it either.
Yea its doom and gloom
Posted on 5/21/14 at 9:11 am to Reubaltaich
quote:
If we had a real President we would get the Saudi's to start opening up the oil spigots causing an oil glut
the saudis are tapped out, they vastly overstate their reserves.
This post was edited on 5/21/14 at 9:12 am
Posted on 5/21/14 at 9:18 am to LSURussian
just from the article:
Note the word remnant.
quote:
Demand for the dollar, which has long served as a safe and reliable reserve currency in international transactions, has allowed the U.S. to borrow almost unlimited cash and spend well beyond its means, which some economists say has afforded the United States an outsize influence on world affairs.
But the BRICS countries — Brazil, Russia, India, China and South Africa — a bloc of the world’s five major emerging economies, have long sought to diminish their dependence on the dollar, as a means of reshaping the world financial and geopolitical order. In the absence of a viable alternative, however, replacing it has proven difficult.
quote:
“China sees the dominance of the dollar in international trade transactions as remnant of American global dominance, which they hope to overthrow in the years ahead. This is a small step in that direction, to reduce the primacy of the dollar in international trade,”
Note the word remnant.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News