pelicn
Veteran Expediter
China, Russia to dump US dollar for bilateral trade - International Business Times
Just another interesting development
Just another interesting development
China and Russia to Dump the Dollar
- Thread starter pelicn
- Start date
greg334
Veteran Expediter
This has been going on for a while, the EU has been pushing their currency for trade so they would not have to prop it up so much.
I think the new congress needs to see how they can clean house over at the fed and get interest rates back up to at least 4%. Unless we do something drastic next year with the dollar, it will be lost.
I think the new congress needs to see how they can clean house over at the fed and get interest rates back up to at least 4%. Unless we do something drastic next year with the dollar, it will be lost.
chefdennis
Veteran Expediter
From what I undersstand both counties will still be using (at least for now) the US dollar as the "peg" for their currenies, they are just doing trades between themselves in their own currenties as the peg....
But while on the face this isn't a big deal, it ain't good either, if more countries start this...the us dollar as bad as it is now will get worse,,
Personally I am smiling about it, just one more failure on barrys watch....
But while on the face this isn't a big deal, it ain't good either, if more countries start this...the us dollar as bad as it is now will get worse,,
Personally I am smiling about it, just one more failure on barrys watch....
From what I undersstand both counties will still be using (at least for now) the US dollar as the "peg" for their currenies, they are just doing trades between themselves in their own currenties as the peg....
But while on the face this isn't a big deal, it ain't good either, if more countries start this...the us dollar as bad as it is now will get worse,,
Personally I am smiling about it, just one more failure on barrys watch....
who's barry?????
Bout time countries used they' re own dollar...thats what we preach to them to stand up and be self supporting...and when they do we whine Nobody loves us anymore...boohoo
New world economy, get used to it...
New world economy, get used to it...
Videodrome
Seasoned Expediter
It's not dumping the dollar....... yet. I'm not sure they can drop the dollar without hurting themselves either.
I mean we are the consumer addict and China is our dealer. We both need eachother in a sick twisted economic sense.
I mean we are the consumer addict and China is our dealer. We both need eachother in a sick twisted economic sense.