The dollar's death by a thousand cuts is intensifying. South Africa is taking initial steps to replace the dollar with the renminbi as the reserve currency of the emerging markets in Africa.
South Africa will this week take some initial steps to unseat the US dollar as the preferred worldwide currency for trade and investment in emerging economies.
Thus, the nation is expected to become party to endorsing the Chinese currency, the renminbi, as the currency of trade in emerging markets.
This means getting a renminbi-denominated bank account, in addition to a dollar account, could be an advantage for African businesses that seek to do business in the emerging markets.
The move is set to challenge the supremacy of the US dollar. This, experts say, is the latest salvo in the greatest worldwide currency war since the 1930s.
In the 30s, several nations competitively devalued their currencies to give their domestic economies an advantage over others.
And this led to a worldwide decline in overall trade volumes at the time.
The north will be pitted against the entire south in a historic competitive currency battle – whose terrain has moved to the Indian capital New Dehli – where the Brics (Brazil, Russia, India China and South Africa) nations will assemble next week.
China seeks to find new markets for its currency and to lobby to internationalize it throughout the Brics states.
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28 comments:
And it begins, finally!
Look, I do not revel in the coming hyper-inflation, or the hardships that will befall our once great nation, but every spring must have a winter and every empire must decline so that new one may take its place.
This will be difficult, but necessary! Let hope that those that control, control no more!
So it looks like South Africa is next on the US invasion list. I wonder what the excuse this time will be? Child armies? WMD's? Black people? the food is too good? they dont speak english well? oh i know! becuz they hate our freedom so we need to bring them explosive democracy!
- runlevel
AFRICOM...
-misterbaghead
Come live in South Africa - many Americans live a good life here, but emigrate whilst your dollar still has exchange value. Also bring along your bullion as it currently costs about $60 oz here at the moment
At this rate the US and the idiots in the WH will be at war with everyone. China, India, Iran, South Korea, Pakistan, Russia, South Africa and Venezuela are all moving away from the USD. And it is entirely our fault for this as we export inflation, war, empire building and just plain old and simple rude bad behavior.
There is a basic rule in the world of the bullies.
If you don't know many people it requires to take you out, remember this. They will bring more than enough. Nuff said
It used to be other countries were the bad actors on the stage. Since the USSR collapsed 20 years ago, the USA has been the only super power on the planet.
Yes, we have exported good in some cases as we have helped other countries escape the clutches of tyrants but with the last 4 presidents, Clinton, Bush, G+Bush and Obama, we have become the bully boy in town.
There are enough countries with sufficient natural resources including oil, rare earths, iron, silver and gold along with the people who are striving to build those countries, that we are not the preeminent or predominant sovereinty in the world today.
We either make room for the growth of countries and work with them to our mutual benefit or they will work together to our singular detriment. We've been empire-building for over 40 years and that just about how long empires typical last. About two generations before people figure out how to get rid of the bully.
We had better get our heads out of the sand before it's too late, if it's not too late already.
They will now bomb Johannesburg for "humanitarian" reasons and get rid of Nelson Mandela because he is a vicious anti-human rights activist.
What a load of bums the Americans have become.
Don't object because the leaders of a country are the direct result of the collusion of the people who let it happen.
The USA has the leadership that it has worked to instal.
If you want to know why the USA has a bunch of criminals running it then look in the mirror.
AGXIIK said...
"And it is entirely our fault for this as we export inflation, war, empire building and just plain old and simple rude bad behavior."
I will give you a chance to recant that, as I take complete offense to it. We had nothing to do with this. Our elections are rigged, our government is controlled by bankers, and we were sold out years ago.
In all honesty, and as a Ron Paul, supporter, voter and activist.
WHAT CAN WE DO!?
Rhetorically, stack, educate and prepare, that is all!
Currencies, only live an average 40 years, we are over due!
Tyberious
Unfortunately, the most likely outcome to much of this spells war and conflict. Sad but true, and I hope I am wrong, but so far, the US has a very consistent response to anyone attempting to "unseat" the USD. Indeed, it appears we are entering a phase of global conflict and please remember to pay attention to all that is unfolding before us.
China is not going to play our games, and they are in a position i suspect they have been waiting for for many years. They have up to this point been able to get this far without firing a shot. I hope no shots are fired, but the heat was just turned up and the furnace doors are being opened. The US is being challenged, and rightfully so due to our monetary policies and political nonsense. We have long ago passed the point of no return...China knows this and is going to take full advantage of it, along with those who follow their lead.
The thing is it is not our currency! It is owned by the FED, not the USgov.
It'll take some time before the dust settles in the US once this ball really gets rolling.
If future administrations continue the same game as has run, and increased, over the past few decades then in futures years will this be one of the argued points of "the beginning of the end" ?
The stock and trade of a psychopath is power, sex and money (not in any particular order). The whole western system runs on it.
Will the powers that be even let Ron Paul get into office if he wins it "too obviously" ?
The US constitutions lays out the actions and responsabilities which apply to circumvent the current state of the union but it has not been actioned !
By taking the steps the US is at the moment - sanctions against countries using another currency or gold as a trade medium (among others) - is isolationist on the extreme. It is suicidal, the direction of momentum is not that of a starship to "infinity and beyind" it's that of fiscal gravity and the earth is getting very large, very fast.
Cal
Two thumbs up for Anon 4:17
Also before you hope for the demise of the dollar remember that our PMs will eventually have to be traded for some sort of fiat paper. Anon 4:17 is correct. Good observation and one we should all remember. That is why Ron Paul is the only candidate I will vote for even if I think I am wasting my vote. Obama is mostly harmless and Romney would be a disaster IMO. Obama is a bet 2.00 to get 1.00 favorite in the betting parlors and they are rarely wrong.
You guys are makin it sound like the world is over because things are gonna change. Relax, things are gonna get bumpy for sure but the US will trudge on.
You're just being put in your place. The world is a big place and the arrogance dislayed over the last few decades has left the US public Waaaay behind the 8 ball.
What matters now is that your government and the bankers that really run it don't dislay the same arrogance as they attempt to hold on to what was once the status quo. They need to gracefully concede that they are outnumbered and quite simply, going about it all wrong.
The rest of the world appears to have seen the light. They have already started working together for the greater good and obviously for their OWN interests. Get on board however you can. If that means sending your representative a constructive letter to voice your opinion is your only recourse.....DO IT!
I did
Crazy Canuck
Thanks All!
I was just trying to make a point to AGXIIK. They are a great contributor but many people hold the falsely the the US dollar is state own its not, we pay to use it.
And that boys and girls, is FUCKED UP!
Tyberious!
Crazy Canuck
"If that means sending your representative a constructive letter to voice your opinion is your only recourse.....DO IT!
I tried that for the NDAA, their reply was a joke!
What, Pray tell, does any of this have to do with seeing Lauren Lyster in a silver bikini?
Anon 6;33
Regardless of the reply you received,
That one you sent letter is more than 95% will do.
Imagine if they recieved another 2 or 300 million just like the one you sent.
Good on ya!!
Crazy canuck
Hi Tiberious
You may have noticed my posts have changed a bit over the last few months. My formerly jingoistic nature has evolved a bit lately.
My use of the word 'we' may seem a bit too inclusive but does not include the like minded people here on this site, or most people for that matter.
It seems like we, the people, are being dragged into fights that are not of our making, like Iran, Central Africa, Libya and Syria. And whether a person choses to take up arms or just see their money, job, or the economy suffer for it, we are made less for this politician-based decision process. Ron Paul is the only politician I know who sees this and understands the damage is causes. The rest of the flea circus in D.C. has too much invested in conflict to get off that train.
I think the people who are making things difficult for the average folks in this country, and represented by the word the 'we', are reserved for those who want to make war, either economic or physical, on the world at large.
Those wars are really wearing thin.
I hate waking up at 4.30 in the AM just to find out if there's another conflict on that new day.
What this country is discovering on a continuing basis is that we can't afford to keeping picking fights.
IMO
Dear Mr. X ,
Thank you for contacting me regarding the National Defense Authorization Act of 2012. I appreciate hearing from you on this matter.
Senator Carl Levin (D-MI) introduced the National Defense Authorization Act of 201 2 on May 5, 2011. This legislation was passed by the Senate Armed Services Committee by a vote of 26-0 on November 15, 2011. The National Defense Authorization Act is enacted each fiscal year to specify the budget and expenditures of the U.S. Department of Defense.
The National Defense Authorization Act for 2012 includes numerous provisions that relate to the treatment of terrorism detainees. One such provision requires that any detainee caught on U.S. soil must be remanded to the U.S. military for custody. This provision is strongly opposed by the White House and the Department of Defense; both entities have stated that it will limit current options available to our counter-terrorism officials.
However, the legislation also allows the Administration to waive the mandatory custody requirement. The bill also provides for an exemption for any mandatory custody transfer that would interfere with ongoing civilian law enforcement surveillance or interrogation efforts. Please be assured that I will keep your thoughts should I have the opportunity to vote on these or similar provisions.
I am profoundly grateful for the service of our brave men and women in the armed services and for the sacrifices they have made to defend and preserve our great nation. As such, we have an important responsibility to ensure that they have the tools and resources they need to successfully complete their mission and return home safe. Please be assured that I will continue to work with my colleagues on behalf of the many soldiers in the state of Washington.
Thank you again for contacting me to share your thoughts on this matter. You may also be interested in signing up for periodic updates for Washington State residents. If you are interested in subscribing to this update, please visit my website at http://cantwell.senate.gov . Please do not hesitate to contact me in the future if I can be of further assistance.
Sincerely,
Maria Cantwell
United States Senator
For future correspondence with my office, please visit my website at
http://cantwell.senate.gov/contact/index.html
Tyberious
The banksters are like the borg from star trek, going country to country, assimilating each country into a facsist state of crime. It is my opinion the U.S. started this movement right aftre ww2, by backing dictators around the world after the war(fighting the cold war). We have been tooken over by our own creation.
I was going to post a comment how we should have stayed with gold, and silver as currency and we would not have gotten into all these expansionous war of conquest, but then I think about when we invaded puerto rico, and the phillipines, and impounded the mexican silver from those nations, and made them use our silver coinage.
All the arrows point to one direction- death of the dollar. This is not going to be pretty.
Waking up...standing up....speaking up
it's a beautiful thing
http://www.rt.com/news/iran-uk-war-protest-375/
crazy canuck
Considering just how badly the US economy and its currency have been mismanaged, it is no surprise whatsoever that other nations are taking steps to reduce their dollar dependency. We're doing much the same here via buying physical PMs.
"Let hope that those that control, control no more!"
Well, we can certainly hope that but isn't it a lot more likely that we will only be changing WHO controls us and not whether or not their is control of us?
Ed_B
@Anonymous 10:07 Ed_B
"Well, we can certainly hope that but isn't it a lot more likely that we will only be changing WHO controls us and not whether or not their is control of us?"
No, not really. If the Government has to respect money that they cannot create out of thin air, for their use, to keep power and stay in control, then they will no longer be in power. That is what they are now afraid of. Many of them cling to power as if it's the only thing they know... power. It's the only thing many of them care about.
Once they can no longer use a money that they create out of thin air, then they will only be able to have any power by those who are willing to give them the new unit of account money(that replaced the old debt-based one).
Which ones will receive the new unit of account money and have any power? Most likely only those that cared about something other than power, manipulation, and their own greed... such as Ron Paul for example.
I put it that way because I hope that PM's will be the new unit of account money, and that most people that are acquiring PM's are freedom loving and liberty minded individuals who will not give their money over to the past power hungry establishment politicians.
In short, once the Government has been made to recognize PM's as money then the Government will only obtain any power it receives from people who give it to them voluntarily. Remember, money is power. You vote with your money! The power will finally come from the people(rather than from The Federal Reserve), as it should be.
"At this rate the US and the idiots in the WH will be at war with everyone..."
They already ARE at war with everyone!... Does everyone want to continue to print money to bail out banks?... Does everyone want to continue to use a debt-based fiat 'money' system?... Does everyone want to rely on nuclear energy for their energy needs?... Does everyone want to have US military bases spread throughout the planet?...
The answer for everyone is a resounding 'NO'! Yet they still go ahead and do it. Does not that demonstrate that they already ARE at war with everyone?... We the people are the 'everyone' (not just China, Iran, North Korea, Russia, India, etc, etc). They are at war with US!...
Fiat based money is convenient. You don't need 2 mules to carry enough to buy a new car with. Needless to say I keep stacking because I doubt the status quo and I work for a bank. Not a large one but a community bank with actual values. Do I doubt the system? Yes. Is there anything that I can do to protect my family? Yes. Learn to grow a garden from seeds. Stack silver cause it's poor man's money? Yes. Know how to shoot your weapons and have plenty of ammo? Yes. Just my .02 but there isn't a whole lot us commoners can do without uniting. Wait! Read the bible and stack. We all can do that! Just My opinion!!
@10:23 PM
Eventually you need a train to carry the paper that buys the car, or get a free bonus car for taking your gold ounce to a bank to grow some interest.
good point anon 12.54 It looks like the US government is as war with us, the people of the Unites States NDAA pretty much wrote that story along with the national preparedness act signed a week ago.
Right there with you ANON 1:23. Fortunately for me and my family/friends, I've been gardening for years and rarely buy any vegetables from the store. Deer, turkey and fish are abundant on my property. Fresh spring fed stream. New chickens on the way. These are all things our grand parents did and it wasn't considered prepping. Just living. I feel for those that live in the big cities and have to store so much. While I have frozen, dehydrated, salted and canned foods yearly for the last 30+ years because it is fun and tastier, I would now be considered a Prepper or even worse by our government.
Point is, a lot of us will do fine without much change. I hope the best for all.
2 OZ.
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