May 21st 2014 article from – @ShaunyGibson – Used to be @ ShaunyNews –Added for research reasond
Well here it is people! I have warned and warned and today it’s official, China and Russia have dropped the US Dollar. This is the end of the US Dollar. I said in another blog the Dollar was going to go. The death of all these bankers was the key sign. Russia and China are about to take the USA off it’s knee’s and onto the floor. I put a date of June 1st for this to happen, I think I was not far away I have been covering this story http://shaunynews.com/2014/04/06/us-threatens-russia-over-petrodollar-busting-deal/
Daboo7, lad has been on this story also
The stock market dive Friday that brought the Dow Jones Industrial Average to near 16,000 and the Nasdaq to below 4,000 might reflect an accelerated move by Russia away from the petrodollar in retaliation for the Obama administration’s threatened economic sanctions over Russia’s takeover of Crimea. Russia’s politically motivated attack on the petrodollar could trigger a major U.S. stock market collapse amid a global loss of confidence in the dollar caused by the Federal Reserve’s continuing policy of buying billions of dollars monthly in U.S. Treasury debt. The Fed hopes to stimulate the economy by artificially keeping already depressed interest rates at zero.
With the Fed having limited options to address a panic caused by a bear market that could continue into next week, the risk of heavy selling of the U.S. dollar in international markets could raise prices in the increasingly import-dependent U.S. economy. Hyperinflation could result, pushing the struggling economic recovery into a renewed economic recession. On Friday, the third straight day of stock market losses, the Nasdaq plunged 54.37 points, or 1.3 percent, to 3,999.73. The Dow dropped 143.47 points, or 0.9 percent to 16,026.75, and the Standard & Poor’s 500 index fell 17.39 points, or 1 percent, to 1,815.69.
Explains why and how
U.S.A. Today reported Friday that after the market selloff last week, investors remain jittery as the Nasdaq has dropped 3.1 percent, its worst plunge since November 2011, the S&P 500 has fallen 4 percent from its record high close of April 2 and is 1.8 percent lower for the year, while the Dow has retreated 3.3 percent from its Dec. 31 record close of 16,576.66. Economist Peter Koenig, a former staff member of the World Bank, warned last week Russia is in the process of abandoning the “petro-dollar” as the trading unit for oil and gas transactions, with Russian hydrocarbon trade estimated at approximately a trillion dollars per year. “The main supporters of this plan are Sergey Glaziev, the economic aide of the Russian president and Igor Sechin, the CEO of Rosneft, the biggest Russian oil company and a close ally of Vladimir Putin,” noted Voice of Russia radio April 4. “Both have been very vocal in their quest to replace the dollar with the Russian ruble. Now, several top Russian officials are pushing the plan forward.”
On March 21, Reuters reported Russia and China were close to finalizing a “Holy Grail” deal in which the Russian state-owned gas firm Gazprom would pump 38 billion cubic meters of natural gas per year to China starting in 2018. The gas would flow through the first pipeline between the world’s largest supplier of natural gas and the world’s largest user of natural gas, with the transactions to be valued in the Russian ruble, Chinese yuan or possibly in gold. An economic blog that has been warning Russia’s war on the petrodollar could trigger a major collapse in U.S. stock markets, reported March 20 that Putin thanked China for standing by Russia in Crimea. In addition to negotiating energy deals with China, Russia is also continuing to negotiate a deal with Iran to barter 500,000 barrels of Iranian oil per day for Russian goods. The deal would enable Iran to sell an additional $20 billion in crude oil without having to value the transactions in dollars.
Sens. Robert Menendez, D-N.J., and Mark Kirk, R-Ill., warned President Obama in a letter addressed to the White House that if Iran “moves forward with this effort to evade U.S. sanctions and violate the terms of oil relief provided for in the [Iranian interim nuclear deal reached in Geneva in November 2013], the United States should respond by re-instating the crude oil sanctions, rigorously enforcing significant reductions in global purchases of Iranian crude oil, and sanctioning any violations to the fullest extent of law.”
AMERICA READ THIS BLOG, WATCH THE VIDEOS, SAVE NOW, GET FOOD NOW, FOR THE LOVE OF GOD GET READY! RESEARCH THIS, READ THIS, WATCH THIS, DO YOUR OWN RESEARCH! The USA is about to become a 3rd World Country. Russia and China are taking out this corrupt USA Government. Good for the World, bad for the American people. This is real, look away at your peril America. I did, stupid ME, try to warn you! The War in the Ukraine was done on purpose to take us here. Time to truly wake up guys!
Slowly – but surely – the USD’s hegemony is being chipped away whether by foreign policy faux pas, crossed red-lines, or economic fragility. However, on Day 1 of Vladimir Putin’s trip to China it is clear that the two nations are as close as ever. VTB – among Russia’s largest banks – has signed a deal with Bank of China to pay each other in domestic currencies, bypassing the need for US Dollars for “investment banking, inter-bank lending, trade finance and capital-markets transactions.” Kirill Dmitriyev the head of Russia’s Direct Investment Fund notes, “together it’ll be possible to discuss investment in various projects much more efficiently and clearly,” as Russia’s pivot to Asia continues to gather steam. As RT reports, Day 1 for Putin is going well .VTB, Russia’s second biggest lender, has signed a deal with Bank of China, which includes an agreement to pay each other in domestic currencies.
“Under the agreement, the banks plan to develop their partnership in a number of areas, including cooperation on ruble and renminbi settlements, investment banking, inter-bank lending, trade finance and capital-markets transactions,” says the official VTB statement.
The deal underlines VTB Group’s growing interest in Asian markets and will help grow trade between Russia and China that are already close trading partners, said VTB Bank Management Board Vasily Titov. But it’s not just the banking relationships…
In the first day of a two-day trip to China Russia’s President Vladimir Putin said the two countries will be increasing their bilateral trade to reach a new level. “Our countries have done a huge job to reach a new historic landmark…. China has firmly settled in a position of our key trade partner,” Putin said. Putin also said that trade turnover between Russia and China grew almost 2 percent during 2013 to reach about $90 billion. “If we sustain this pace the level of bilateral trade of $100 billion will be reached by 2015 and we’ll confidently move on,” Putin said. Increasing investment cooperation is crucial, Putin added. “Together it’ll be possible to discuss investment in various projects much more efficiently and clearly,,” as Interfax quotes Kirill Dmitriyev the head of Russia’s Direct Investment Fund.
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