Posted on 09/03/2014 4:59:59 AM PDT by rjbemsha
Money launderers will increasingly move away from the US dollar to the renminbi as US authorities continue to crack down on international banks’ AML systems [says] Freddie McMahon, director of strategy & innovation at Anomaly42, a specialist in AML and terrorist financing.
“The dollar is becoming increasingly high risk and it’s a level of risk money launderers are proving less willing to take...the renminbi is off the beaten track and affords a new level of camouflage for criminal transactions."
“The irony is that proactively countering the money launderers represents an unprecedented opportunity for the Chinese authorities to make the renminbi the default global currency,” said McMahon. "...if China can take the initiative ... the global financial landscape could be set for seismic change.”
(Excerpt) Read more at bankingtech.com ...
I have heard from the grapevine that the target date to replace the dollar is April 2015.
Just saying.
Right now, we spend 440 billion dollars every year, buying everything imported from China.
We only got back, 122 billion dollars (last year) from China.
America needs to bring back American industry.
Unintended consequences.
Interesting that is the month the serfs are required to pay their taxes.
I wouldn’t doubt something like that is in the cards. I take it this is a source you believe to be reliable?
Second hand so I cannot judge the accuracy.
Keep in mind that what CNN is saying is that the Chinese took our pieces of pretty, printed paper with all those dead Americans on it in exchange for actual goods.
Those silly Chinese. They took $440 billion in American paper. It may be the worst trade since Peter Minuit bought Manhattan for 60 gilders.
America wins again!
I disagree with you, though I would be more worried if I somehow found I didn’t.
The American right seems to be sleeping.
China has aggressively taken American industry, in large part, away from us.
We meekly buy everything now, from China.
This means China is now growing, and America is falling.
America needs to make stuff once again. Bring back all sorts of American industry from the Peoples Republic of China.
Did they keep the rest under their pillow? Do they use pillows in China?
America needs to bring back American industry.
If only someone had some ideas to make that happen.....
That is a great idea.
Wait, I was wrong, that's not an idea, it's a slogan.
Maybe you could import an idea from China and post it here?
You disagree that the Chinese are exchanging paper for actual goods?
That’s a fact. Everyone with which we have a misnamed “trade deficit” is giving us more stuff in exchange for American printed paper which we call currency and formally the US dollar. If you could go to your grocer with money you printed at home and buy whatever you wanted wouldn’t that be good?
What kind of goods or services would you trade with your paper?
You should be more worried about how Obama and the Democrats are corrupting American politics and ruining the free market.
Your partner posted in post 7, how much we as America have unwisely now sent to China for all the (endless) supply of Chinese imported goods America is now addicted to.
440 billion dollars last year.
What he failed to note was there is NO such market in China, for American goods. We only sold them, 122 billion.
That means we SENT TO CHINA 318 billion dollars last year, and every year we continue to subsidise our own manufacturing base which has moved to the Peoples Republic of China we will continue to sent that amount of money to China.
China is BOOMING right now. They also have the second-largest military budget on the entire planet.
America we really, really need to bring back our own manufacturing, right here to America.
Conservatives, stop this wholesale madness of sending all America’s productive capacity to a massive, and closed communist nation.
America needs to grow, right here. Bring back American industry.
If American industry won’t come back, then cut them off to sell to China, and build our own industry back, right here.
Without them.
They don't spend those dollars? Do they use them as wallpaper? Mulch?
China is BOOMING right now.
Wow! Do they do something to encourage their manufacturing sector?
I wonder if we could do something to encourage our manufacturing sector?
Any ideas?
Again you appeal to government force to make the market do what you want. That’s exactly what unionistas, liberals and Democrats do.
What if all countries did what you said? Below is a list found here https://en.wikipedia.org/wiki/List_of_the_largest_trading_partners_of_the_United_States showing where American imports go as a percent of all imports into that country. Would America be better off if these countries cut off US trade?
Imports[5]
Region Percentage
Canada 50.6%
Mexico 49.9%
Costa Rica 49.8%
Aruba 46.4%
Honduras 44.3%
Dominican Republic 43.3%
Guatemala 38.0%
Jamaica 36.1%
El Salvador 35.4%
Trinidad and Tobago 33.1%
Saint Kitts and Nevis 31.7%
Venezuela 31.7%
Bahamas 30.1%
Ecuador 28.4%
Suriname 26.0%
Peru 24.6%
Colombia 24.2%
Belize 23.6%
Panama 23.6%
Chile 22.9%
Guyana 22.2%
Nicaragua 19.0%
Qatar 14.2%
Israel 12.9%
Kuwait 11.8%
Philippines 11.5%
Lebanon 11.2%
I think you should stop running interference for the globalists.
Myself.
What’s a globalist?
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