Wednesday, November 24, 2010

China and Russia drop the dollar for bilateral trade. Endgame is starting for the US, and UK too.

The Chinese and Russians are dumping the dollar for the purposes of bilateral trade.

That's just the start.Millions of dollar bills, no longer needed, flooding back to the US. Remember, Oil, which Russia has LOTS of, and China requires LOTS of, is priced in the dollar, until now.

Others will follow, and for an increasing range of raw materials, goods and services. The dollar will become worthless as fewer people use it. The paper will all flow back to the US, and hyperinflation will come.

China, Russia quit dollar
By Su Qiang and Li Xiaokun (China Daily)
Updated: 2010-11-24 08:02

St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

"About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

If the US economy goes down as it seems it will, the UK economy, tied to it by the great sages of monetarism surrounding Thatcher, will fall too.We will fritter our reserves desperately trying to support the dollar.

Buy some canned food, pasta, rice, lentils, Tuna, Sardines, Sugar, Corned Beef and Tea/Coffee, and some silver (bullion) coins if you have the money.

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