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Post by Michael Downing on Mar 17, 2015 10:06:15 GMT -5
We move ever closer... ncrenegade.com/editorial/the-dollar-is-now-toilet-paper-get-ready/The Dollar Is Now Toilet Paper – Get ReadyToday’s announcement that Europe (at least the few remaining solvent countries) have agreed to join the Chinese led infrastructure bank is the end of the dollar. We can debate this point but it will not make a difference. The consequences will soon be felt at the market: both the grocery store and stock market. David DeGerolamo Major European “Allies” Desert Obama, Join China-led Infrastructure Bank It appears the sea of de-dollarization has reached the shores of Europe. With Australia and UK having already moved in the direction of joining the China-led AIIB, The FT reports that France, Germany, and Italy have now all agreed to join the development bank as ‘pivot to Asia’ appears to be Plan B for Europe. As Greg Sheridan previously noted, “the saga of the China Bank is almost a textbook case of the failure of Obama’s foreign policy,” but as The FT concludes, the European decisions represent a significant setback for the Obama administration, which has argued that western countries could have more influence over the workings of the new bank if they stayed together on the outside. As Forbes notes, this leaves Obama with 3 uncomfortable options…
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Post by Michael Downing on Mar 17, 2015 19:43:21 GMT -5
Tick, Tock, tick, Tock... ncrenegade.com/editorial/moscow-launches-ruble-renminbi-futures-to-facilitate-trade-between-china-and-russia/Moscow Launches Ruble-Renminbi Futures To “Facilitate Trade Between China And Russia” While the west huffs and puffs, and threatens to unleash even more “costs” on Russia in the form of additional sanctions which will assure that Europe’s latest deflationary recession is even more acute, an “isolated” Russia is looking to outside, and to the east, and as part of its most recent de-dollarization initiative, the Moscow Exchange announced it has started trading Chinese Renminbi-Russian Ruble currency futures. From the press release: From 17 March the Moscow Exchange has started trading in a futures contract on the currency pair Chinese Renminbi — Russian rouble The launch has been driven by a substantially increasing Renminbi turnover on the Exchange, growing volume of settlement in the currency between Russia and China as well as newly arising demand for hedging of such transactions. Andrey Shemetov, First Deputy CEO of Moscow Exchange, said: “The launch of the CNY/RUB futures is the next step made by the Moscow Exchange to offer a full range of Renminbi instruments and hedging tools to participants. We expect that the new contract will be liquid and in-demand as other Exchange’s derivatives, and facilitate the trade turnover between China and Russia”.
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Post by walfred on Mar 17, 2015 23:19:12 GMT -5
The commonly traded petrol dollar(FDRN) was created to be destroyed and with it's demise the collapse of the U.S. economy.It was and is an appropriation owned by the global elite/banks.
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Post by Michael Downing on Mar 20, 2015 10:48:14 GMT -5
The saga continues... ncrenegade.com/editorial/our-allies-have-abandoned-the-dollar/Our Allies Have Abandoned the Dollar South Korea will be the next “ally” after Japan (see article below) to abandon the dollar after this weekend’s talks with China. This opportunity to destroy the dollar as the world’s reserve currency did not even take that much effort. With a foreign affairs policy in shambles that has alienated the world, an financial attack to destroy the Great Experiment was only a matter of time. And time has now run out. The consequences will be felt over a short time frame and it now appears that 2015 will actually be the year that has been foreseen as the collapse. David DeGerolamo ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ US “Isolated” As Key Ally Japan Considers Joining China-Led Bank Well, that escalated quickly. Just a week ago it appeared Washington had managed (for the time being at least) to convince the US’ closest allies to refrain from joining the Asian Infrastructure Investment Bank, a sinocentric institution aimed at promoting development across Asia that is meant to rival the US/Japanese-led ADB and begin a seismic shift away from the world’s traditionally US-dominated institutions such as the World Bank and the IMF. Then, much to the chagrin of Washington, the UK joined as a founding member calling it an “unrivaled opportunity.” As we and many other observers correctly noted at the time, the move by Britain could well embolden other countries who had expressed an interest initially but been deterred by pressure from Washington to reconsider their bids for membership. In (very) short order, everyone from Germany to Australia to Luxembourg was suddenly ready to cast their lot with the Chinese despite US warnings that the bank won’t adopt the proper operational standards. As we said yesterday, the world is now wise to the fact that US criticism of the new venture is very likely nothing more than an attempt by The White House to undermine Chinese regional ambition: …and that means in short order Australia and South Korea will likely be on board and at that point, the stigma the US has created around membership will have completely disappeared (if it hasn’t already), opening the door for other US “allies” to join despite the bank’s alleged “low” standards. Now, it appears the last valuable friend the US has in the bid to keep China from undercutting the ADB is beginning to consider a bid to join up. Here’s more from Reuters: Japan’s foreign minister signaled cautious approval of the institution that the United States has warned against… The opposition to the AIIB began crumbling after Britain said earlier this month that it would join the institution, saying it was in its national interest. France, Germany and Italy swiftly followed suit. Australia now appears close to joining, although no formal decision has been made, and Beijing said Japan and South Korea were also considering the possibility. Asked about the three countries joining the bank, China’s Foreign Ministry said it was “open” to it. “They have all already expressed that they are contemplating the issue at hand,” ministry spokesman Hong Lei told a daily briefing. “We are open to them making the relevant decision.”
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Post by avordvet on Mar 20, 2015 13:16:46 GMT -5
No FRN, no U.S. in its current form.
And on a side note: ALL of that U.S. currency you have stuffed in your mattress... the mattress is going to be worth more very shortly.
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Post by watchful on Mar 20, 2015 19:53:08 GMT -5
Support your local Militia! If none in town start one! Let's look at this from the otherside of the street.
The current U.S. cash is not money it is a rate of exchange. It has no intrinsic value since the gold left the US Treasury during the Roosevelt administration. It's only value was that due to the Brettonwood agreement it became the trade money for international trade.
It was in fact an IOU between the Treasury and the Federal Reserve.
However inside the borders when dealing with other americans it will probably work for a few more years. Many mericans are currently putting away the next 10 years trading money (Ammo, Food, Water, tools, etc). Once the people get the idea that they can't buy those with FRN life will get better. Today on zerohedge they outed a new plan by the Government to steal your money.
When you go to the bank and get a sizeable amount of your money the bank will call the IRS and they will freeze your mney, then take it with an IRS lean because you may be money laundering. (Guess they don't like competition)
The biggest hit will be on foreign manufactured or imported products and services. The smart prepper is already putting in basement and garage small manufacturing, food production, water purification, repair, and instruction into their game plan. Things to trade for things they need.
So all Fear Porn aside it is time to make the leaap from cash to trade in your daily life.
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Post by avordvet on Mar 21, 2015 4:51:13 GMT -5
So all Fear Porn aside it is time to make the leaap from cash to trade in your daily life. And that is the way it worked when I was growing up... I'll trade you half the hog for half the cow.
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Post by Michael Downing on Mar 22, 2015 19:22:28 GMT -5
When you walk to the edge of the trench and kneel down you should know you are done for. Still depending upon all those dollars you have invested for your retirement? ncrenegade.com/editorial/washington-caves-will-seek-partnership-with-china-led-development-bank/Washington Caves: Will Seek Partnership With China-Led Development Bank Don’t look now, but Washington just blinked. As we’ve documented exhaustively over the past week, pressure has been building steadily for the US to strike some manner of conciliatory tone towards China with regard to the Asian Infrastructure Investment Bank, a China-led institution aimed at rivaling the US/Japan-backed ADB. Britain’s decision to join China in its new endeavor has prompted a number of Western nations to throw their support behind the bank ahead of the March 31 deadline for membership application. Because the AIIB effectively represents the beginning of the end for US hegemony, the White House has demeaned the effort from its inception questioning the ability of non-G-7 nations to create an institution that can be trusted to operation in accordance with the proper “standards.” Now, with 35 nations set to join as founders, it appears Washington may be set to concede defeat. Here’s more, via WSJ: The Obama administration, facing defiance by allies that have signed up to support a new Chinese-led infrastructure fund, is proposing the bank work in a partnership with Washington-backed development institutions such as the World Bank. The collaborative approach is designed to steer the new bank toward economic aims of the world’s leading economies and away from becoming an instrument of Beijing’s foreign policy. The bank’s potential to promote new alliances and sidestep existing institutions has been one of the Obama administration’s chief concerns as key allies including the U.K., Germany and France lined up in recent days to become founding members of the new Asian Infrastructure Investment Bank.
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