china and russia to dump US dollar on bilateral trade

Wed Nov 24, 2010 5:39 am » by **Th3ory**

i just caught wind of this over at GLP

http://english.peopledaily.com.cn/90001/90778/90859/7208907.html

China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday in St. Petersburg.

Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

"About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

very bad news indeed.

Wed Nov 24, 2010 5:41 am » by **Willbraham**

th3ory wrote:i just caught wind of this over at GLP

http://english.peopledaily.com.cn/90001/90778/90859/7208907.html

China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday in St. Petersburg.

Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

"About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

very bad news indeed.

Soooo.........what happens to all that US currency? Does it become useless?

Wed Nov 24, 2010 5:43 am » by **Th3ory**

i would assume that as fewer and fewer countries trade in USD, then yes they will consider it useless and will no longer trade with the US who can't offer anything else.

Wed Nov 24, 2010 5:45 am » by **lamonema**

I had a feeling this was coming, everyone told me that i was nuts, that the Russian Government were no longer a threat. I smelled trouble when they consolidated time zones. I still believe that the Chinese Government will have their hands full, their people will cause it to impload, at least i hope so anyway. As for GOG like General George S. Patton said "don't ever trust the commies".

Wed Nov 24, 2010 6:09 am » by **Sceptilief**

willbraham wrote:Soooo.........what happens to all that US currency? Does it become useless?

You'll have extra toilet paper for 2012?

Wed Nov 24, 2010 6:12 am » by **Willbraham**

sceptilief wrote:
willbraham wrote:Soooo.........what happens to all that US currency? Does it become useless?

You'll have extra toilet paper for 2012?

What's the use of toilet paper when I've got no food going in my mouth and coming out my butt? Toilet paper, if i ever... :bang;

Wed Nov 24, 2010 6:15 am » by **Wrathofkahn**

GLP is the source huh? :nope:

Wed Nov 24, 2010 6:18 am » by **Michaelssiebert**

Why, oh why.. This is so unbelievable, yet true... Webbot and Timezero, don't tell me they were right.. Did they predict their own influence..?

Then again: university projects..? Academy..? Where the brothers meet the future..?

The puzzle is almost laid..

Wed Nov 24, 2010 6:21 am » by **Th3ory**

wrathofkahn wrote:GLP is the source huh?

no it's not the source. there are several very real news sites reporting it, however none of them happen to be MSM US media outlets...

check out the link provided for example.

Wed Nov 24, 2010 6:23 am » by **Sceptilief**

willbraham wrote:
sceptilief wrote:
willbraham wrote:Soooo.........what happens to all that US currency? Does it become useless?

You'll have extra toilet paper for 2012?

What's the use of toilet paper when I've got no food going in my mouth and coming out my butt? Toilet paper, if i ever...

LOL. Good point. What else can you do with printed paper? I mean, you can't even right on the stuff they make the currency out of, so no point making a notepad. You could always get into origami with it.

Hahaha... Just buggin. American currency will always retain it's value.