Russia is proposing a "currency alliance" with China that would dump the dollar as a reserve currency in the two countries spheres of influence. The new currency could be the Russian ruble, or something both China and Russia agree on.
Russia wants the ruble to be one of the world’s reserve currencies as President Dmitry Medvedev renews his push to reduce the dollar’s dominance and make Moscow a global financial hub.
“Only three, five years ago it seemed like a fantasy” to create a new reserve currency, Medvedev said yesterday in a speech in St. Petersburg, Russia. “Now we are seriously discussing it.”
Russia has been dumping U.S. Treasuries for the past 5 months. Things are not going well for the United States as Russia takes on a new nationalism and blames the West for its economic troubles.
Right wing media has been really talking down the US economy and suggesting the dollar will be dumped as the world's reserve currency. This would mean the majority of international trading would be in currency other than the dollar and it would have a negative effect on the US dollar and the US economy.
The wingers have been suggesting the US currency would be dumped internationally if the US devalues the dollar. The US has been trying to get the Chinese to revalue their currency upwards because of the trade imbalance.
The wingnuts have also suggested if the US looses the dollar as reserve currency, it would push this nation into a depression because the US would be unable to print currency.
Of course, any nation can print currency, but it would have a more pronounced affect when the extra currency in not diluted by international markets.
source: http://beforeitsnews.com/story/82/114/Russia_Seeks_Chinese_Alliance_for_New_World_Order.html
source: Bob Livingston email, Fri, Dec 17, 2010 at 12:08 PM
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Russia wants the ruble to be one of the world’s reserve currencies as President Dmitry Medvedev renews his push to reduce the dollar’s dominance and make Moscow a global financial hub.
“Only three, five years ago it seemed like a fantasy” to create a new reserve currency, Medvedev said yesterday in a speech in St. Petersburg, Russia. “Now we are seriously discussing it.”
Russia has been dumping U.S. Treasuries for the past 5 months. Things are not going well for the United States as Russia takes on a new nationalism and blames the West for its economic troubles.
Right wing media has been really talking down the US economy and suggesting the dollar will be dumped as the world's reserve currency. This would mean the majority of international trading would be in currency other than the dollar and it would have a negative effect on the US dollar and the US economy.
The wingers have been suggesting the US currency would be dumped internationally if the US devalues the dollar. The US has been trying to get the Chinese to revalue their currency upwards because of the trade imbalance.
source: Stansberry & Associates
The wingnuts have also suggested if the US looses the dollar as reserve currency, it would push this nation into a depression because the US would be unable to print currency.
Of course, any nation can print currency, but it would have a more pronounced affect when the extra currency in not diluted by international markets.
source: http://beforeitsnews.com/story/82/114/Russia_Seeks_Chinese_Alliance_for_New_World_Order.html
source: Bob Livingston email, Fri, Dec 17, 2010 at 12:08 PM
Subscribe to the Rightardia feed: http://feeds.feedburner.com/blogspot/UFPYA
Netcraft rank: 6974 http://toolbar.netcraft.com/site_report?url=http://rightardia.blogspot.com
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