[wagglebee]

I Googled that and it is not in any American news sites. It for me is HUGE too.

It's probably not on any American news sites because it doesn't really affect America.

NEITHER China nor Russia "quit" the Dollar. They both fully intend to continue taking US Dollars as currency, NOTHING has changed there.

This agreement between China and Russia only deals with an agreement for trade between China and Russia. China will start accepting the Russian Ruble and Russia will take the Chinese Yuan. This is a trade agreement between China and Russia that has ZERO EFFECT on any other nation.

[The Comedian]

This is a trade agreement between China and Russia that has ZERO EFFECT on any other nation.

Wrong, as usual.

1) It sets the precedent for non-US denominated energy, food, and other asset sales, cutting into the USD's status, not to mention geographical reach, as the world reserve currency.

2) It returns the total pool of US dollars currently tied up in Sino/Russian trade back in to the global M3, devaluing the dollar.

3) It excludes (and this is critical) the SWIFT and US banking infrastructure from ALL Sino/Russian trade. No clearning houses, no transaction tracking, no US jurisdiction bank accounts. This means untraceable PRC/neo-Soviet financial transactions.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[ColdOne]

This is a trade agreement between China and Russia that has ZERO EFFECT on any other nation. THANK YOU for clearing that up. Happy Thanksgiving to you wagglebee!

[LomanBill]

[This agreement between China and Russia only deals with an agreement for trade between China and Russia.]

 

If that trade was previously denominated in Dollars, and this move will denominate that trade in currency other than the Dollar - then how does that not constitute a decreased demand for the Dollar with a consequential effect upon the value of the Dollar per supply and demand?

 

 

How many dollars were utilized in Russian/Chinese trade?

[RaceBannon]

wrong, it means that there is now a glut of Dollars that neither country needs.

How many Billions of dollars extra does China and Russia have combined?

How many Trillions in cash do they have?

All that cash is now USELESS to them.

WHO IS NEXT TO CONSIDER THE DOLLAR USELESS? IF TWO OF THE BIG THREE ABANDON OUR CURRENCY, WHO IS NEXT TO FOLLOW?

[voicereason]

...it doesn't really affect America.

Really? So a decline in the demand for dollars, which will be a result of this new direction, will have no impact on the value of our currency? While it likely won't produce an immediate, drastic change; it can be the beginning of a very bad trend.

[RockinRight]

Shhh...bringing common sense and reality to this thread might piss off the Chicken Littles.

Don’t get me wrong, there’s plenty going on right now that justifies Chicken Little behavior, but not this.