Posted on 11/09/2014 12:37:40 AM PST by Enlightened1
Allows direct business between Canadian dollar and Chinese yuan, cutting exchange costs.
Canada and China have signed a reciprocal currency deal that's expected to dramatically boost exports.
The hub will foster far easier trade between the Canadian dollar and the Chinese yuan, also known as the renminbi. It makes Canada the first country in the Americas to have a deal to trade in the renminbi.
(Excerpt) Read more at cbc.ca ...
LOL!
Yanks shouldn’t get their panties wadded-up over this, as it is probably temporary.
Once Obama is gone Canada will once again be our primary trading partner.
Et Tu, Canada? Really, how many does this make?
The only one in denial of the dollar remaining a viable world currency is the United States.
So many Americans are in for a rude awakening should we elect to continue down this progressive path or worse...the dollar does finally collapse during 0bama’s reign.
Even the great financial minds here on FR are in denial as they somehow hope an election or two will fix what has been done over the past 6 yrs, soon to be 8 years.
Every depression/recession is followed by an expansion of manufacturing or technology or some new thing that moves the world forward. I don’t see the “thing” on the horizon, nor the citizens being intellectually ready to fill those jobs.
I would reckon Obama will be able to spin the dollar out for the rest of his term. Just long enough for the next (republican) administration to take all the blame for the collapse...
Well, here’s something.
23 Countries Now Abandoning US Dollar
http://www.truthandaction.org/23-countries-now-abandoning-us-dollar-2/
All of your points are spot on!
I am not sure he can. Sure, they will spin propaganda...but those even remotely aware will start feeling it soon.
Any ideas as to a hedge? As some would suggest, certain equities will continue to trade no matter the “currency” of value. Just looking for thoughts?
There are the tried and true,
but look to what will get your family through.
Oil, oil infrastructure, energy...if you have it to invest. That one is a risk...that one is betting Republicans will free the industry. If we can’t buy oil on the open market because our dollar is worthless, we’ll have to build it here at home. With some of the worlds largest reserves...we should be a leader. A good President in 2016 will understand the nation saving value in putting aside the EPA and econuts.
Otherwise, develop a skill. Carpentry, plumbing, farming, auto mechanic, something in the labor venue as that may be the only barter some will have. Think towards what skills people will want if they do not have dollars to pay for things? If you feel you will have the dollars to pay...what skill would you pay a man willing to work?
No Keystone; Canada said O.K. and is building it’s own east coast bound pipeline with terminals in St John, New Brunswick. Now Canada is looking at Asian trade deals and Obama has not been able to get his Trans-Pacific trade pact off the ground, so Canada goes ahead, again, on its own. I don’t 100% like all the Canadian moves, but with the amateurs working for our WH I understand them.
The Canadians want to produce and sell oil, and they already sell as much into the US as they’re likely to do. The Chinese market is big and growing faster. Beyond that, this is more “OHNOZ” nuttery about the impending collapse of the US dollar, an event that isn’t going to happen.
I figured Obama was deliberately underplaying his party this election. I can’t help but wonder if he knows about this and is trying to setup republicans to take the fall for him.
Canada dumps dollar! Why that’s just Loonie!
The US is very strong and durable. It will be able to take a surprising amount of economic abuse.
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