[Chgogal]

Hello there, Expat! Hope you are having a great weekend down there.

For the traders on this post, it looks like an interesting currency swap took place between Russia and China.

“De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement”

http://www.zerohedge.com/news/2014-08-09/de-dollarization-accelerates-chinarussia-complete-currency-swap-agreement

Wyatt's Torch had an interesting if not frightening response:
http://www.freerepublic.com/focus/news/3188546/posts?page=102#102

Constructive thoughts anyone? My eyes are all ears. ; )

[expat_panama]

Someone please clue me in if I'm missing something, but this appears to be something to do w/ Russia's wanting to look like it's making the U.S. irrelevant in retaliation for whatever it is that they're mad about these days.  They're supposedly trying to put an end to the international use of 'petrodollars' --imho the phrase "fartin' to stop a windstorm" comes to mind.  Reality is that petrodollars is a world thing and not an America thing, and I'd argue that if they ceased to exist the U.S. would be better off.

What folks don't understand is that most dollars in the world don't come from America, they're created in foreign banks that are outside U.S. jurisdiction and not subject to U.S. control.  No more 'petrodollars' means Americans have a lot more control over their own currency. 

--and that's bad?

[1010RD]

Where are your assets safest? One need look further than laws and the legal system to include not just the political system and its history, but also the military might of the nation.