China, Russia quit dollar

Technically that would be a bad bad thing.

as long as we keep fooling people, its okay

http://www.aolnews.com/2010/11/24/russia-china-deal-aims-sort-of-to-ditch-dollar...
AOL for the need to hear it from a "reliable source."
Unfortunately what you and i believe is irrelevant. This is a mathematical fact. US is losing its status as a reserve currency.
SEE petrodollar.

Russia and China plan to start conducting their mutual trade in rubles and yuan in a bid to remove the globally predominant U.S. dollar from the equation, but the move seemed more symbolic than financially significant.
From the opening sentence, when opec demands anything other than dollars thats when we worry, but its a long way off, In case you missed the last twenty years the United States has more good will coming from Saudi Arabia, UAE, Kuwait plus a few more arab countries, they screw us at their own peril, we are the only check on Iran other than Israel who they will not turn to. Its called a quid pro quo

Iran trades Oil in the Euro now, and Venezuela is trying to push their Oil off of the US Dollar as well. (Venezuela is the only non middle eastern nation in OPEC and is the 2nd largest supplier of Oil to the United States. Gold is still traded exclusively in the US Dollar.)

naw because canada wont work to create a north american currency right now , no one wants to take on the burden of american debt and mexican instablilty on their stable currency , and america is in too rough a shape to even think about joining forces with such a corrupted mexico .

If the renminbi devalues 20% and it's pegged to the dollar then the US dollar has devalued 20%. Brazil, Japan and Chile have devalued their currency to stimulate exports.
Currency wars lead to Trade wars and trade wars lead to world wars. The fact that China, Iran,Russia and India buying gold should be a huge wake up call for people. Even the president of Tunisia knows this.

This will be one reason to blame them when we collapse.
The petrodollar is losing it's status. be ready for 5$ gas.

Iran trades oil in the Euro now, and Venezuela is pushing to trade their Oil in something other than the Dollar. (Gold is still traded exclusively in Dollars though.)

No I can't blame them. Thanks to our fine administration and its monetary policies. Let's continue to spend ourselves further and further deeper. What the heck, we can print and devalue until the cows come home.

Cleaning up after Bush has been a nightmarishly expensive affair, hasn't it?

Obama doesnt control the Federal Reserve. Nice try though.

CNN stays quiet on all important news.

Interesting point. I did not see it on RT either. I care less for CNN.

wow noob, really? you must have been here for about 10 mins to mistake me for a blech fan.

Thanks, hammywill. I usually read rt.com and I missed it there.

No problem..I had to dig a little for it...:-)

lol i am sorry but that is funny on so many levels and directions i just had to interject a lol

Feds have been pumping money into the stock market for years.
QE1 and QE2 was meant exactly to inflate the dollar.
They have been buying us tresuries themselves to keep interest rates to near zero.
It will all end soon...........Unless there is more war.

i agree

see my above post w/ link to Time article

Just like JFK was doing when they blew his brains out to stop him from doing it anymore because the very first thing that LBJ did was stop the United States Department of Treasury from printing anymore money that was backed by silver and returned the printing responsibilities of our money back over to a foreign owned private bank called the Federal Reserve.

YES. LETS DO THAT. Make stuff. It can be FUN to make stuff,.....and then you HAVE STUFF,....YOU made ! How KEWL is that ! What a concept; quality JOBS,....quality STUFF ! HUZZAH !

uhm,.....thats a " +^d " !

"They didn't devalue te currency on purpose."
It certainly was no mistake. Thats what printing does. Inflate the dollar.
If our policy if to protect the dollar why wouldn't the chinese have the same idea. All this recovery is a hoax.

The Federal Reserve DID devalue the Dollar on purpose.

preach on

Get something with some real substance, something tangible, and not based solely on the governments word.

Legalize competing currencies!

Not too many, (if any) people here willing to work for 50 cents an hour...

Bringing those jobs back here would require you and I to do two things. One: Stop buying Chinese made products. Two: be willing to pay more for American made products.

It's that simple, but the American people will not do that. They continually complain that it is impossible.

fucking curs

actually that is a pretty naive view of the global situation, kind of like a tom clancy view of things..
"Pakistan doesnt like Russia because they are buddy-buddy with India and its nuclear program. India is considered our ally and if it came down to it Pakistan would side with us. WHY?? Because the enemy of my enemy is my friend. "

wtf are you even on about there? pakistan doesnt like russia because they like india but its ok that india is our ally? we've moved from jack ryan to jack wagner and melrose place.. if in the unlikely event nukes started flying, israel would go for iran and saudi. pakistan and india would lob at each other, and north korea well they would spin everywhere.. the middle east would either be unusuable for a half-life, or under Israeli control, basically threatening to blow the whole region to the stone age should any of the big boys start to mobilize troops that way.jordan egypt would rage ineffectually and the soviets would take georgia and azerbaijan back home with them, after conveniently wiping out the muslims within. turkey is basically a us base in this scenario.

just a game

Funny that you should mention that the date of this is irrelevant. Two months ago when this was announced the Dollar took a big hit. Since then, the Dollar has been steadily climbing, and is MUCH stronger than either the Chinese Yuan or the Russian Ruble.

Uhmm....No.

The United States has enough power in their Nuclear Arsenal to destroy the entire world many times over. All by themselves. WW3 would be a devestating loss for all of humanity. There would be no "nations" after something like that. No one would win in such a nuclear scenario.

The Dollar has a higher value than the Yuan in the Currency Market.

It might, that's true.

Open an account in HK...problem solved. Don't for a minute think that International Financiers are not buying and selling Yuan. All money value is perceived anyway, so it is all relative.

Well if your dollar looses worth that means theres not much value to it meaning you're not valuable which pretty much means you're poor.

well if that becomes true, then at least Americans won't be able to buy as much "made in China" plastic crap and they will have to sell it all to their own citizens and fill up their own landfills with all of it.

peso. The universal standard by which worthlessness is measured,....is,...and SHALL ALWAYS BE,....the peso. Huzzah !

Confederate dollars come and go,....but the peso,....the MIGHTY peso . . .

i do all my trade in rough sex and ointments. screw metal and paper currency