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BEIJING, October 14 (RIA Novosti) - Russia is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings, Prime Minister Vladimir Putin said on Wednesday.
The premier, currently on a visit to Beijing, said a final decision on the issue can only be made after a thorough expert analysis.
It will take at least ten years for them to move from the dollar so it wont be happening soon and hopefully obama will be gone and we wont have to worry
Agree. This is interesting... “Read in between the lines of Putin’s speech and you find all the hints you want. The Chinese and Russians are burying the US alive. The Japanese, Germans, and Gulf States keep a very low profile for the moment. The decisions have been made: wait for 2010. They will use the unfolding chaos to introduce the new currency basket and trade rules… There is a brand new system being designed that will borrow from the past and apply 21st century tools for barter / counter trade / excess capacity etc. An Exchange Platform will cut out the banks altogether… [Chinese Premier] Wen delivered his speech in Davos and went straight to Berlin where they put the final touch on the new world currency basket, sponsored by Berlin-Moscow-Beijing-Tokyo-Riyadh. Moscow and Berlin already have a massive counter trade / barter trade agreement in place, and Beijing was eager to joint that platform as well.”
and...
"Igor Yurgens heads a think tank to advise Medvedev. He said, “What is discouraging is Obama’s statement that [the USGovt] is going to run a $1 trillion deficit for years to come. For us, that means that all the free liquidity in the world will run into American Treasury Bills. Of course, [Obama] expects the Chinese or Russians to buy USTreasury bills. That is pretty selfish and philosophically, it is protectionism.” The reality is that foreign creditors have already announced to key USCongressional members that they will not be purchasing any USTreasury Bonds for several months. Whether active boycott or inability from lack of trade surplus, it does not matter. Dire straits come to the US shores very soon."
BEIJING, October 14 (RIA Novosti) - Russia is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings, Prime Minister Vladimir Putin said on Wednesday.
The premier, currently on a visit to Beijing, said a final decision on the issue can only be made after a thorough expert analysis.
As a European, I welcome the long overdue ascendency of the EURO.
The Euro is probablt just as fiat-valueless as the dollar is. The Yuan is the ascendant currency of the future.
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