Posted on 03/09/2022 8:02:33 PM PST by Callahan
Russian companies and banks are turning to China's currency, the yuan (also known as the renminbi), as the doors to the U.S. dollar-based global financial system slam shut due to sanctions.
Why it matters: The sanctions on Russia "incrementally help internationalize the renminbi," James Fok, author of the book "Financial Cold War: A View of Sino-US Relations from the Financial Markets," told Axios.
"But that doesn't mean the renminbi is going to suddenly start rivaling the dollar in any meaningful way. In order for it to do so, you have a lot of other pieces that have to fall into place," Fok said.
(Excerpt) Read more at axios.com ...
Just another step toward destruction of the US dollar as a world reserve currency. The globalists desire impoverishment of the American people!
All part of the plan, IMHO.
Chinese woman in Russia bragging about using UnionPay (the Chinese Visa/MC) to buy 14 gallons of gas for $136 yuan i.e. $22
https://twitter.com/secondringszn/status/1501725724218122241?s=21
Our brain trust at work.
Scary in that loss of reserve currency status will make the US dollar toilet paper . All these people on government programs will get dollars that buy nothing, a lot of cities will burn.
the renminbi ain’t doing too well given the chicoms book shenanigans on their finances
real estate collapses? who the hell would trust china to be honest about their currency? the home of the gold-coated tungsten bar?
Here they are cancelling all of the paper against Putin's assets. I wish they would get together and punish me by canceling MY mortgage.
As long as we are free we will be just fine. We are way too inventive to remain impoverished for long.
Russia will become a satellite of China.
All they need is to enlist their “Belt and Road” partners, OPEC, and any other evildoers like Iran and NORK to join up. Lots of countries would like to take the dollar down a peg or two and get out from under the heavy US hand.
If Xi and Putin and Khamenei are determined they could up-end the whole western apple cart.
You are not free.
No, they cannot do it by themselves.
But they have a powerful helper who can do this for them: Brandon. Why am I saying "can"? He did it already, dollar is dead.
he renminbi ain’t doing too well given the chicoms book shenanigans on their finances>>> You have GAAP which we use. then you have CHAP which they use.
Spending approves by Congress will finish the dollar.
You just said two completely contradictory things. The dollar as the world reserve currency is essential to globalism. Nationalists want the dollar withdrawn as a reserve currency so the dollar's value can plummet thereby making imports more expensive. So, which is it?
Traders do not agree.
Since June 2021, the US Dollar has steadily increased in value against a basket of foreign currencies.
Two days ago, it hit 99.08, which was a 9% gain since last June, which is a significant gain for a major currency.
In my opinion, most traders would rather speculate on crypto than gamble on the Chinese Communist Party and the renminbi.
Poison Pill: You just said two completely contradictory things. The dollar as the world reserve currency is essential to globalism. Nationalists want the dollar withdrawn as a reserve currency so the dollar's value can plummet thereby making imports more expensive. So, which is it?
In real life, one frequently drives towards a target by paradoxically driving away from it (a little bit, at first, apparently).
Step 1: IMPOSE THE BEAST RABBAN and destroy the value of the U.S. dollar - thus impoverishing the American people, throwing American society into tumult, and robbing the rest of the Free World of its champion!
Step 2: GIVE THEM THEIR SAVIOR, FEYD-RAUTHA and institute a NEW global currency!
Regards,
Anyone who thinks thd yuan is going to replace the dollar as the world’s reseve currency is a brainless idiot, devoid of all understanding.
Lol.. if someone thoght Russia hadn’t planned ahead, they are insane. Chinas cooperation would nullify biden harsh sanctions. Kabhuki theater folks. You are being played by the glibalists v the nationalists. Sound familiar?
Oh we would be
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