China and Russia finally did it. They let the world know that they are telling the American Dollar to go to hell. They have had enough and even tho they also say it isn’t an attack on us, the end result will be horrific.
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.
The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said.
To show what a slow-moving, but unstoppable tragedy this is, look back to July of 2009 to see where I mentioned the fact that India was questioning the Dollar as reserve currency (also pointing out that China and Russia were evaluating the dump, as well).
In Sept of 2009 I wrote:
The Dollar value thingy means so little to me personally because I don’t have any to worry about. But as a nation, we better be very concerned about what the next steps are after Iran drops the Dollar. It is only a matter of time before China, Russia and, yes, even Europe dumps it, as well.
It will be that moment that the true nightmare begins in this country. Why? Because we are unable to produce our way out of it since we have lost so much of our manufacturing base.
In June of 2009, I wrote:
But, after the next couple of days we will see the tide turn. When these people from Russia and China (bolstered by the other 4 member countries, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan), we will see them begin the one thing economists said couldn’t and wouldn’t happen: removing the US Dollar as the reserve currency. The reason why I believe this is going to happen is multi-fold: first, there are “observing” countries at this summit: namely, Pakistan, India, Mongolia and Iran along with others trying to get in.
On Sept 26, 2009, I asked:
What if Japan, China, Russia, Iran (and any host of other Asian or Middle Eastern countries) say, “We have had enough of America’s bullying and world domination.”? What if these countries decide that America IS too big and that she needs to be taken down a notch (financially or militarily)? Please do not think that American Exceptional-ism will save our collective asses. It won’t.
In Feb of this year, I wrote about China started selling off its US Securities, which was the first real effort to rid itself of America’s dominance (under the guise of punishing us for our cozy relationship with Taiwan). That was one of the first “attacks” on our economic hegemony. In the same month I wrote about how they were beginning to purchase a shit load of gold, hedging against their Dollar investments. I also shared a video that I need to re-share:
The Creditor and the Plastic Duck Junkie
I wrote within that same blog post:
I have been warning about the consequences of the status quo and have said time and time again, we are on the precipice of disaster. I have gone so far to inquire of my economic friends, ways to purchase silver and/or gold coinage (just as a safety net when the SHTF). But until today, I have not been able to close the circle of logic to “how” the demise will take place, but the following video should shed much more light on the subject. Sure, thee are many variables, such as how will our military react or what false flag event can they muster to take us into war with China (and Russia, Iran and Venezuela, cause they will ban together to fight us… mark my words). But, from a financial standpoint, they have us by the short curlies.
I am no financial genius, but I read a tremendous amount about it. All I have is my thought process (erroneous or not) and I keep coming to the same logical conclusion: this is all orchestrated and being implemented to bring about a somewhat controlled demise of our currency. We are so over-indebted that there is no way that the bill could ever be paid. And the other countries know this. They are doing what they must to survive the doom that our great country brought upon the rest of the world. That being said, I guess as insouciant Americans, we deserve exactly what we get.