Obama has gotten his wish.
His desire too see this once great nation as just one more mid-level player against all the other mid-level nations has come to fruition.
Rejoice Obama….your name will forever be associated with the fall of the American empire:
China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.
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 two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.
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.
“That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries,” he said.
No big deal eh?
Of course our trade deficit might be a thorn in the side especially when those bankers wake up and decide the dollars just isn’t acceptable payment anymore.
Future financial obligations now must be paid in Renminbis and Rubles, which you can purchase via the international monetary exchange, with gold, based on the exchange rate.
Gold you say? But we have all this newly printed money…you mean its worthless?
Your damn right its worthless….and if you think you’ve seen inflation just wait.
It’s going to see unheard of heights.
Ch-ch-change baby!
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