Another Deal to Circumvent the Dollar

picolo

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Quote from: arieq on January 02, 2015, 09:27:30 PM

Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

The Growth of the GDP is meaningless these days, it' a vestigial indicator, all the grow of the GDP goes to the 1% so it measures almost nothing.

The growth of GDP is made by going into a lot of debt that will need to be repaid or destroyed by inflation.

General_A

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This:

Quote from: Jamacn on October 16, 2014, 08:58:00 PM

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

There is a lot more sinister plays being played out by both countries. At the moment the system is benefiting both countries, whether this rings true into the future is yet to be seen. All that can be read from this article is the dollar has a tiny bit of competition, that is all.

arieq

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Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

The Growth of the GDP is meaningless these days, it' a vestigial indicator, all the grow of the GDP goes to the 1% so it measures almost nothing.

YinShuiSiYuan

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Quote from: pattu1 on November 06, 2014, 09:21:19 PM

Quote from: theblacksquid on November 05, 2014, 05:25:23 PM

http://rt.com/op-edge/202259-brics-us-information-war/
http://www.bloomberg.com/news/2014-09-26/putin-s-sell-treasuries-for-brics-bond-plan-has-limits.html

The BRICS nations and their own development bank pose a greater threat to the USD's reserve currency status than the Euro will ever be.

The Chinese with their huge reserves of dollars are the most potent. However, it is in their interest to see the dollar flourish.

This is correct. If the Chinese were to sell their dollar holdings then they would stand to lose a very large amount of money on losses on both their additional dollars they were not able to tell as well as their US government debt that would be trading at lower prices

picolo

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Quote from: pattu1 on November 06, 2014, 09:21:19 PM

Quote from: theblacksquid on November 05, 2014, 05:25:23 PM

http://rt.com/op-edge/202259-brics-us-information-war/
http://www.bloomberg.com/news/2014-09-26/putin-s-sell-treasuries-for-brics-bond-plan-has-limits.html

The BRICS nations and their own development bank pose a greater threat to the USD's reserve currency status than the Euro will ever be.

The Chinese with their huge reserves of dollars are the most potent. However, it is in their interest to see the dollar flourish.

No it is not because what they will gain by not subsidizing the US will be far greater than what they will loose on their Dollar reserves

rh1n025

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Quote from: IIOII on October 11, 2014, 09:53:32 AM

Truly significant news. It's getting tougher for the USD every day.

Quote from: zyzzbrah on October 11, 2014, 07:14:23 AM

Quote from: RustyNomad on October 11, 2014, 04:58:32 AM

Another nail in the Dollar's coffin.

At this pace they are going to run out of nails. I claim the dollar can continue going on as it is for at least 20+ years before we see big changes.

I doubt it. I would be surprised if its primary reserve status will last longer than 10 years from now. Things will accelerate quickly when the seed of distrust has sprouted. There are many countries that want to get rid of the USD hegemony. When they sense that the power of the empire is dwindling they'll use that opportunity to exit the dollar sphere.

Sounds about right, the IMF actually have a 10 year plan for the SDR (Special Drawing Rights) to replace the dollar as the worlds reserve currency. Although the paper was released a couple of years ago so maybe more like 7 or 8 years now.

I couldn't find the link to the actual paper but this sums it up nicely http://money.cnn.com/2011/02/10/markets/dollar/index.html

pattu1

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Quote from: theblacksquid on November 05, 2014, 05:25:23 PM

http://rt.com/op-edge/202259-brics-us-information-war/
http://www.bloomberg.com/news/2014-09-26/putin-s-sell-treasuries-for-brics-bond-plan-has-limits.html

The BRICS nations and their own development bank pose a greater threat to the USD's reserve currency status than the Euro will ever be.

The Chinese with their huge reserves of dollars are the most potent. However, it is in their interest to see the dollar flourish.

worle1bm

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A year old article spells doom for the dollar!

What crap. At least put some thought into it.

theblacksquid

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http://rt.com/op-edge/202259-brics-us-information-war/
http://www.bloomberg.com/news/2014-09-26/putin-s-sell-treasuries-for-brics-bond-plan-has-limits.html

The BRICS nations and their own development bank pose a greater threat to the USD's reserve currency status than the Euro will ever be.

picolo

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Quote from: tooil on October 18, 2014, 02:04:40 PM

Quote from: Ghepetto on October 11, 2014, 02:56:07 AM

http://money.cnn.com/2013/10/10/news/economy/ecb-china-currency/

This time it's China and the European Union. The Dollar may die sooner than expected?

Look like it will happen sooner than expected. Many economists were expecting this to occur over 1-3 decades.

China is growing strong and saving Gold, they produce a lot and they produce quality products

The USD is over evaluated in the sense that the FED will print more USD in the coming decade than the market anticipates

tooil

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Quote from: Ghepetto on October 11, 2014, 02:56:07 AM

http://money.cnn.com/2013/10/10/news/economy/ecb-china-currency/

This time it's China and the European Union. The Dollar may die sooner than expected?

Look like it will happen sooner than expected. Many economists were expecting this to occur over 1-3 decades.

FattyMcButterpants

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Quote from: picolo on October 18, 2014, 08:10:07 AM

Quote from: zinger on October 17, 2014, 01:20:38 AM

Quote from: picolo on October 17, 2014, 12:00:59 AM

Quote from: Jamacn on October 16, 2014, 08:58:00 PM

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

China can offload its Dollars and when the USD looses most its value in a short amount of time, the USD holdings of China will lose its value but China will be the biggest beneficiary of the dismiss of the USD because the Yuan will appreciate compared to the USD and the Chinese will enjoy an increase in their standard of livings : they will consume more

Quote from: polynesia on October 16, 2014, 08:13:25 PM

Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

I don't think increasing number of trades are conducted with yuan. Until China opens up its capital markets, foreign investors find little use for yuan,

The Communist Party in China is opening up the Yuan to the markets

How can they do that? Chinese cant even speak the universal language. How can they deal with the people all around the world?

You mean English? It is the "universal" language only for the last 100years or so and it may not be for that much longer

Millions of Chinese are getting kind of rich each year and tens of thousands are getting rich while Americans will get poorer or won't get richer as a whole in the coming years

English has been the language of business because english speaking countries have dominated the amount of economic growth and have very strong military might. Countries have spoken the english language as the language of business since the Brittish empire

picolo

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Quote from: zinger on October 17, 2014, 01:20:38 AM

Quote from: picolo on October 17, 2014, 12:00:59 AM

Quote from: Jamacn on October 16, 2014, 08:58:00 PM

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

China can offload its Dollars and when the USD looses most its value in a short amount of time, the USD holdings of China will lose its value but China will be the biggest beneficiary of the dismiss of the USD because the Yuan will appreciate compared to the USD and the Chinese will enjoy an increase in their standard of livings : they will consume more

Quote from: polynesia on October 16, 2014, 08:13:25 PM

Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

I don't think increasing number of trades are conducted with yuan. Until China opens up its capital markets, foreign investors find little use for yuan,

The Communist Party in China is opening up the Yuan to the markets

How can they do that? Chinese cant even speak the universal language. How can they deal with the people all around the world?

You mean English? It is the "universal" language only for the last 100years or so and it may not be for that much longer

Millions of Chinese are getting kind of rich each year and tens of thousands are getting rich while Americans will get poorer or won't get richer as a whole in the coming years

Quote from: scarsbergholden on October 18, 2014, 06:19:55 AM

Quote from: pattu1 on October 17, 2014, 11:42:05 AM

Quote from: zinger on October 17, 2014, 01:20:38 AM

Quote from: picolo on October 17, 2014, 12:00:59 AM

Quote from: Jamacn on October 16, 2014, 08:58:00 PM

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

China can offload its Dollars and when the USD looses most its value in a short amount of time, the USD holdings of China will lose its value but China will be the biggest beneficiary of the dismiss of the USD because the Yuan will appreciate compared to the USD and the Chinese will enjoy an increase in their standard of livings : they will consume more

Quote from: polynesia on October 16, 2014, 08:13:25 PM

Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

I don't think increasing number of trades are conducted with yuan. Until China opens up its capital markets, foreign investors find little use for yuan,

The Communist Party in China is opening up the Yuan to the markets

How can they do that? Chinese cant even speak the universal language. How can they deal with the people all around the world?

Let me remind you that the Chinese were one of the earliest civilizations to trade. Where do you think the name "Silk Road" came from?

The Chinese have been in the market of international trade longer then any other known civilization. Although their primary language is Mandarin (chinese) many/most people in China can and do speak english.

The term 'Silk Road' came from China as it is/was a trade route from China. I believe (although may be incorrect on this) had something to do with the trade of meth.

The Chinese Communist Party invented the concept of a dictatorship that allows most economical liberties so the people get richer and don't question the dictatorship too much which allows the ruling class to keep their power, their leadership and to enjoy a large share of the wealth created

scarsbergholden

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Quote from: pattu1 on October 17, 2014, 11:42:05 AM

Quote from: zinger on October 17, 2014, 01:20:38 AM

Quote from: picolo on October 17, 2014, 12:00:59 AM

Quote from: Jamacn on October 16, 2014, 08:58:00 PM

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

China can offload its Dollars and when the USD looses most its value in a short amount of time, the USD holdings of China will lose its value but China will be the biggest beneficiary of the dismiss of the USD because the Yuan will appreciate compared to the USD and the Chinese will enjoy an increase in their standard of livings : they will consume more

Quote from: polynesia on October 16, 2014, 08:13:25 PM

Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

I don't think increasing number of trades are conducted with yuan. Until China opens up its capital markets, foreign investors find little use for yuan,

The Communist Party in China is opening up the Yuan to the markets

How can they do that? Chinese cant even speak the universal language. How can they deal with the people all around the world?

Let me remind you that the Chinese were one of the earliest civilizations to trade. Where do you think the name "Silk Road" came from?

The Chinese have been in the market of international trade longer then any other known civilization. Although their primary language is Mandarin (chinese) many/most people in China can and do speak english.

The term 'Silk Road' came from China as it is/was a trade route from China. I believe (although may be incorrect on this) had something to do with the trade of meth.

lyth0s

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Quote from: Jamacn on October 16, 2014, 08:58:00 PM

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

Spend USD on gold. Hold gold. GG.

pattu1

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Quote from: zinger on October 17, 2014, 01:20:38 AM

Quote from: picolo on October 17, 2014, 12:00:59 AM

Quote from: Jamacn on October 16, 2014, 08:58:00 PM

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

China can offload its Dollars and when the USD looses most its value in a short amount of time, the USD holdings of China will lose its value but China will be the biggest beneficiary of the dismiss of the USD because the Yuan will appreciate compared to the USD and the Chinese will enjoy an increase in their standard of livings : they will consume more

Quote from: polynesia on October 16, 2014, 08:13:25 PM

Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

I don't think increasing number of trades are conducted with yuan. Until China opens up its capital markets, foreign investors find little use for yuan,

The Communist Party in China is opening up the Yuan to the markets

How can they do that? Chinese cant even speak the universal language. How can they deal with the people all around the world?

Let me remind you that the Chinese were one of the earliest civilizations to trade. Where do you think the name "Silk Road" came from?

zinger

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Quote from: picolo on October 17, 2014, 12:00:59 AM

Quote from: Jamacn on October 16, 2014, 08:58:00 PM

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

China can offload its Dollars and when the USD looses most its value in a short amount of time, the USD holdings of China will lose its value but China will be the biggest beneficiary of the dismiss of the USD because the Yuan will appreciate compared to the USD and the Chinese will enjoy an increase in their standard of livings : they will consume more

Quote from: polynesia on October 16, 2014, 08:13:25 PM

Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

I don't think increasing number of trades are conducted with yuan. Until China opens up its capital markets, foreign investors find little use for yuan,

The Communist Party in China is opening up the Yuan to the markets

How can they do that? Chinese cant even speak the universal language. How can they deal with the people all around the world?

picolo

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Quote from: Jamacn on October 16, 2014, 08:58:00 PM

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

China can offload its Dollars and when the USD looses most its value in a short amount of time, the USD holdings of China will lose its value but China will be the biggest beneficiary of the dismiss of the USD because the Yuan will appreciate compared to the USD and the Chinese will enjoy an increase in their standard of livings : they will consume more

Quote from: polynesia on October 16, 2014, 08:13:25 PM

Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

I don't think increasing number of trades are conducted with yuan. Until China opens up its capital markets, foreign investors find little use for yuan,

The Communist Party in China is opening up the Yuan to the markets

DhaniBoy

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Quote from: pattu1 on October 15, 2014, 11:49:11 AM

Quote from: DhaniBoy on October 14, 2014, 01:00:41 PM

dollars now still be excellent in international trade transactions, despite the presence of competitors such as the euro and the pound, the dollar is still widely used in the export and import trade of a country, it also caused a lot of American interests abroad has mainly security issues, America is still a beacon of problem security world, as the world police can not release the American interests in other countries, so that for any economic problem America has a lot of interest in other countries, thus automatically also always used the American dollar in trade transactions ... Cool

I think you are trying to say that the US, because of its military might and wide presence, pushes the use of the USD?

of course it affects the use of the US dollar in other countries, along with the increasing insecurity in other countries, then the US as the world's policeman to use his right to secure its assets in other countries, such as political and economic assets, the safer the situation of a country the more dollars are used, especially in the field of economic assets ...

Jamacn

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China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

polynesia

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Quote from: chennan on October 16, 2014, 07:05:07 AM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

I don't think increasing number of trades are conducted with yuan. Until China opens up its capital markets, foreign investors find little use for yuan,

chennan

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China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

picolo

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Quote from: DhaniBoy on October 14, 2014, 01:00:41 PM

dollars now still be excellent in international trade transactions, despite the presence of competitors such as the euro and the pound, the dollar is still widely used in the export and import trade of a country, it also caused a lot of American interests abroad has mainly security issues, America is still a beacon of problem security world, as the world police can not release the American interests in other countries, so that for any economic problem America has a lot of interest in other countries, thus automatically also always used the American dollar in trade transactions ... Cool

The Dollar is still the main international currency but the trend is negative and we see many indications that it will not be used as much anymore, Yuan and Gold will be used more, maybe Euro and Bitcoin too Grin

pattu1

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Quote from: DhaniBoy on October 14, 2014, 01:00:41 PM

dollars now still be excellent in international trade transactions, despite the presence of competitors such as the euro and the pound, the dollar is still widely used in the export and import trade of a country, it also caused a lot of American interests abroad has mainly security issues, America is still a beacon of problem security world, as the world police can not release the American interests in other countries, so that for any economic problem America has a lot of interest in other countries, thus automatically also always used the American dollar in trade transactions ... Cool

I think you are trying to say that the US, because of its military might and wide presence, pushes the use of the USD?

DhaniBoy

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dollars now still be excellent in international trade transactions, despite the presence of competitors such as the euro and the pound, the dollar is still widely used in the export and import trade of a country, it also caused a lot of American interests abroad has mainly security issues, America is still a beacon of problem security world, as the world police can not release the American interests in other countries, so that for any economic problem America has a lot of interest in other countries, thus automatically also always used the American dollar in trade transactions ... Cool

polynesia

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Quote from: abrahamlitcoin on October 13, 2014, 09:24:06 AM

Any update about this?

Nothing in the news since then.

abrahamlitcoin

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♔ of ♥

Any update about this?

pitham1

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The article is dated Oct-13.
Nothing material seems to have happened on this front in the last 1 year.

The BRIC countries joining together to form their own bank seems to be a bigger threat to the dominance of the dollar.

bf4btc

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Quote from: duke1839 on October 11, 2014, 10:09:15 AM

Quote from: zyzzbrah on October 11, 2014, 07:14:23 AM

Quote from: RustyNomad on October 11, 2014, 04:58:32 AM

Another nail in the Dollar's coffin.

At this pace they are going to run out of nails. I claim the dollar can continue going on as it is for at least 20+ years before we see big changes.

These deals countries make to settle up with each other using their own currencies don't really affect the dollar's reserve status. If Germany had any balls they would go back to the deutsche mark and maybe that currency could affect the dollar's reserve status. But don't hold your breath for any dollar collapse. It will happen but I don't think it is imminent.

The Euro is somewhat of a threat to the Dollars exclusive reserve status. It would probably have a better chance of dethroning the dollar as the world reserve currency then a currency that is only backed by Germany as the EU economy is many times larger then the German economy.

Even if the dollar is no longer primarily used by foreign governments as a reserve currency, it will likely still be used as a 'secondary' reserve currency for a very long time

picolo

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Central banks keep getting a lot of USD, if they were selling it it would be very bearish for the USD

kutaka

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1 years old news.

Nrcewker

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Quote from: RustyNomad on October 11, 2014, 04:58:32 AM

Another nail in the Dollar's coffin.

+1

Eisenhower34

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Quote from: IIOII on October 11, 2014, 09:53:32 AM

Truly significant news. It's getting tougher for the USD every day.

Quote from: zyzzbrah on October 11, 2014, 07:14:23 AM

Quote from: RustyNomad on October 11, 2014, 04:58:32 AM

Another nail in the Dollar's coffin.

At this pace they are going to run out of nails. I claim the dollar can continue going on as it is for at least 20+ years before we see big changes.

I doubt it. I would be surprised if its primary reserve status will last longer than 10 years from now. Things will accelerate quickly when the seed of distrust has sprouted. There are many countries that want to get rid of the USD hegemony. When they sense that the power of the empire is dwindling they'll use that opportunity to exit the dollar sphere.

Most of the dollar's problems is because of Obama's crazy economic policies. Once the GOP takes control of both parts of the legislature and hopefully takes control of the White House in 2017, the economic policies will be reversed and the amount of borrowing the US does will decrease substantially (and potentially the national debt will start to be reduced)

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Quote from: zyzzbrah on October 11, 2014, 07:14:23 AM

Quote from: RustyNomad on October 11, 2014, 04:58:32 AM

Another nail in the Dollar's coffin.

At this pace they are going to run out of nails. I claim the dollar can continue going on as it is for at least 20+ years before we see big changes.

These deals countries make to settle up with each other using their own currencies don't really affect the dollar's reserve status. If Germany had any balls they would go back to the deutsche mark and maybe that currency could affect the dollar's reserve status. But don't hold your breath for any dollar collapse. It will happen but I don't think it is imminent.

IIOII

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Truly significant news. It's getting tougher for the USD every day.

Quote from: zyzzbrah on October 11, 2014, 07:14:23 AM

Quote from: RustyNomad on October 11, 2014, 04:58:32 AM

Another nail in the Dollar's coffin.

At this pace they are going to run out of nails. I claim the dollar can continue going on as it is for at least 20+ years before we see big changes.

I doubt it. I would be surprised if its primary reserve status will last longer than 10 years from now. Things will accelerate quickly when the seed of distrust has sprouted. There are many countries that want to get rid of the USD hegemony. When they sense that the power of the empire is dwindling they'll use that opportunity to exit the dollar sphere.

redhawk979

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Quote from: zyzzbrah on October 11, 2014, 07:14:23 AM

Quote from: RustyNomad on October 11, 2014, 04:58:32 AM

Another nail in the Dollar's coffin.

At this pace they are going to run out of nails. I claim the dollar can continue going on as it is for at least 20+ years before we see big changes.

Bitcoin: The only currency so bad, only the complete economic collapse of the entire world can make convince the world to use it.

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Quote from: RustyNomad on October 11, 2014, 04:58:32 AM

Another nail in the Dollar's coffin.

At this pace they are going to run out of nails. I claim the dollar can continue going on as it is for at least 20+ years before we see big changes.

RustyNomad

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Another nail in the Dollar's coffin.

Ghepetto

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http://money.cnn.com/2013/10/10/news/economy/ecb-china-currency/

This time it's China and the European Union. The Dollar may die sooner than expected?

Topic: Another Deal to Circumvent the Dollar (Read 3321 times)