China-Russia start to disconnect from dollar

[CosmicCowboy]

Fuck QEII, Fuck Helicopter Ben Bernake, Fuck destroying the dollar...*sigh*

http://www.chinadaily.com.cn/china/2010-11/24/content_11599087.htm

[v2freak]

What do you mean destroying the dollar?

[boutons_deux]

America is bankrupt, a financial fraud, and has proven that America doesn't know how to regulate its economy and capitalism.

The unregulated capitalists have done what they always do: get super-wealthy by fucking over everybody else.

For all the distrust and hate around the world, people used to be able to say: "America is World Economic Champion". They can't say that anymore.

Ask Iceland, Ireland, and UK (and those who lent the money) how wonderful it is to follow the US economic leadership these past 10 years.

[byrontx]

Why can't the deficit hawks get worked up over the $744,027,031,919 cost of the Iraqi misadventure?

[boutons_deux]

Because the MIC owns more than enough legislators to keep the "defense/security" scam going, to keep transferring debt onto and taxpayer wealth from the taxpayers to the MIC.

Citizens aren't organized and financed enough to outbid the MIC. And certainly the "vote the bums out" charade is pure hogwash.

[RandomGuy]

Fuck QEII, Fuck Helicopter Ben Bernake, Fuck destroying the dollar...*sigh*

http://www.chinadaily.com.cn/china/2010-11/24/content_11599087.htm

My understanding is that most countries who trade with each other do so in their own currencies, with the exception of oil.

Countries who use someone else's currency, and that "someone elses" currency is almost invariably the dollar, do so, because their own currencies are seen as weak and/or unstable.

This has less to do with the "destruction of the dollar" and more to do with China's economic maturation and ongoing industrialization.

You are placing too much emphasis on what is going on in the Fed, and not enough on what is going on in Shanghai, IMO.

[coyotes_geek]

Why can't the deficit hawks get worked up over the $744,027,031,919 cost of the Iraqi misadventure?

Because there's no point anymore. That money is gone forever. Wish we had a way to get it back, but we don't.