Russia Holds "De-Dollarization Meeting": China, Iran Willing

[Infinite_limit]

http://www.zerohedge.com/news/2014-05-13/russia-holds-de-dollarization-meeting-china-iran-willing-drop-usd-bilateral-trade

Russia Holds "De-Dollarization Meeting": China, Iran Willing To Drop USD From Bilateral Trade

[TDMVPDPOY]

looks like china has to drop a few clusters in china

[pgardn]

So China is gonna put their money in rubles, or even invest back in their own govts debt?

Not the rich ones who want to stay rich, especially when Russia shows how unstable it is.

The oligarchs know how tenuous their situation is with an unpredictable government. Neither China or Russia have faith in each other's ability to stay financially stable, this is a big fat loser.

[Nbadan]

the reason the dollar is the 'reserve currency' for most other countries is because of its stability, security and the fact we've never missed an interest payment or lost money...that's why these 'bread-basket' of reserve currencies ideas always fail...look at the euro....your only as strong as the weakest currency in your basket...

[TDMVPDPOY]

So China is gonna put their money in rubles, or even invest back in their own govts debt?

Not the rich ones who want to stay rich, especially when Russia shows how unstable it is.

The oligarchs know how tenuous their situation is with an unpredictable government. Neither China or Russia have faith in each other's ability to stay financially stable, this is a big fat loser.

lol they will just robbed their people or neighboring countries to make up for losses

[pgardn]

lol they will just robbed their people or neighboring countries to make up for losses

Oh hell yes. Countries dropping money into taking over neighbors is gonna stabilize their currency.

Does being born on the other side of the equator lead to mental defects?

[RandomGuy]

http://www.zerohedge.com/news/2014-05-13/russia-holds-de-dollarization-meeting-china-iran-willing-drop-usd-bilateral-trade

Russia Holds "De-Dollarization Meeting": China, Iran Willing To Drop USD From Bilateral Trade

So, can you tell me what particular expertise the author, Tyler Derden, has?
Snarky comments aside, the russians ars desperately trying to find a way to manage the massive decline in their foreign currency reserves. No one with any sense is going to dive into ruble denominated investments.

One has to look no further than the massive capital outflows pouring from russias coffers for evidence of that. It was a steady stream before simply due to the kleptocracys overall incompetence, but the tiff with Ukraine made that into a flash flood.

Russia has lost and lost badly in this issue, and the secondary effects will not be evident or fully manifest for years.

[The Reckoning]

oh yeah i always make sure to bring some rubles when i travel :rolleyes

[Infinite_limit]

Whoa settle down Yanks. All signs point to this occurring in our lifetime. China continues to be the decision maker on this globe.

[angrydude]

So, can you tell me what particular expertise the author, Tyler Derden, has?

lol, never heard of zerohedge.

[ChumpDumper]

Whoa settle down Yanks. All signs point to this occurring in our lifetime. China continues to be the decision maker on this globe.Why would I believe an article from a guy too ashamed to put his own name to it?

[angrydude]

Why would I believe an article from a guy too ashamed to put his own name to it?

lol, never heard of zerohedge.

[Technique]

The crisis in Ukraine has the Eastern powers distancing themselves from the dollar and towards their own respective currency. Russian banks have started to withdraw their assets from European banks and back to Russia. China in it's current state does not rely on the US dollar.

I watched an episode of VICE and in it they showed how the former great industrial cities of America have imploded and decayed. Public schools and hospitals have been abandoned. Leaving the infrastructure helpless against scrappers. Scrappers go inside abandoned buildings and literally take the infrastructure apart in order to obtain raw materials such as copper and steel. These scrappers then sell the material at the scrapyard. Business is booming at the scrap yards because they get raw materials from scrappers from all over the ruined city.

Who buys these materials that are taken from America's very heart? The Chinese. Used to build their own cities.

America's global influence has faded and the crisis in Ukraine has sparked the beginning of the end for the dollar.

[Nbadan]

The crisis in Ukraine has the Eastern powers distancing themselves from the dollar and towards their own respective currency. Russian banks have started to withdraw their assets from European banks and back to Russia. China in it's current state does not rely on the US dollar.

You really think the Yen is more stable than the dollar? The Ruble? Even the Chinese keep over a trillion dollars in US securities and bonds for stability...

[Nbadan]

watched an episode of VICE and in it they showed how the former great industrial cities of America have imploded and decayed. Public schools and hospitals have been abandoned. Leaving the infrastructure helpless against scrappers. Scrappers go inside abandoned buildings and literally take the infrastructure apart in order to obtain raw materials such as copper and steel. These scrappers then sell the material at the scrapyard. Business is booming at the scrap yards because they get raw materials from scrappers from all over the ruined city.

Thank NAFTA and other trade deals that have benefited foreign multinational corporations at the expense of American jobs....but were all partly to blame too.....can't have our cheap Walmart crap annnnnnd decent paying jobs....

[leemajors]

The crisis in Ukraine has the Eastern powers distancing themselves from the dollar and towards their own respective currency. Russian banks have started to withdraw their assets from European banks and back to Russia. China in it's current state does not rely on the US dollar.

I watched an episode of VICE and in it they showed how the former great industrial cities of America have imploded and decayed. Public schools and hospitals have been abandoned. Leaving the infrastructure helpless against scrappers. Scrappers go inside abandoned buildings and literally take the infrastructure apart in order to obtain raw materials such as copper and steel. These scrappers then sell the material at the scrapyard. Business is booming at the scrap yards because they get raw materials from scrappers from all over the ruined city.

Who buys these materials that are taken from America's very heart? The Chinese. Used to build their own empty cities.

America's global influence has faded and the crisis in Ukraine has sparked the beginning of the end for the dollar.

[The Reckoning]

lol no. the world economy is a massive puzzle. the US provides the service industry, China meets the demands of that industry. they can't live without each other.

[RandomGuy]

Whoa settle down Yanks. All signs point to this occurring in our lifetime. China continues to be the decision maker on this globe.

That might surprise the Vietnamese, phillipenes, and malaysians, among others. Chinas foreign policy has been almost laughably amateurish, as of late. I say almost, because they are tilting towards armed conflict with nations that the u.s. has defense treaties with.
that is not funny.
Given the corruption in the chinese system, and a lack of willingness to address it beyond the most superficial level, one would have to present a bit more evidence than handwaving to support that assertion.

[pgardn]

But, but, it's all so easy...

http://www.nytimes.com/2014/05/21/world/asia/china-russia.html?_r=0

[Winehole23]

bluster and fustian. noses will not be cut off to spite faces just yet. China, Russia and Iran just want to give us the finger for some reason.

god help em if they do form a monetary union. it's not a good idea.

[pgardn]

But, but, it's all so easy...

http://www.nytimes.com/2014/05/21/world/asia/china-russia.html?_r=0

And now they agree to a deal.
Russia diversifying its economy seems impossible.