The dollar standard is ending

Cius

Cius

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Lindsey Williams: "The most significant day in the history of the American dollar, since its inception, happened on Thursday, Sept. 6. On that day, something took place that is going to affect your life, your family, your dinner table more than you can possibly imagine."

"On Thursday, Sept. 6... just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar.
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Source

This news is simply huge. Don't know what to think about this. Also today I see that central banks across the world have been buying gold like its going out of fashion. Gold purchases by central banks is up 138% which seems to imply that governments the world over are converting their dollar reserves into hard currency (gold).

I'm starting to think that the world leaders already are planning for the collapse of the dollar and are quietly preparing for that eventuality. This oil move by China and Russia is huge yet the news has been dead quiet about it. The last time this happened was when Iraq passed a law saying they would sell oil in other currencies. They where invaded shortly thereafter and the first law the new Iraqi puppet government revoked was that one. Iran has been threatening to sell oil in gold and the result has been the current Iranian crises. Seriously, I am starting to think its time to put the tinfoil hat on.
 
Cius said:
Source

This news is simply huge. Don't know what to think about this. Also today I see that central banks across the world have been buying gold like its going out of fashion. Gold purchases by central banks is up 138% which seems to imply that governments the world over are converting their dollar reserves into hard currency (gold).

I'm starting to think that the world leaders already are planning for the collapse of the dollar and are quietly preparing for that eventuality. This oil move by China and Russia is huge yet the news has been dead quiet about it. The last time this happened was when Iraq passed a law saying they would sell oil in other currencies. They where invaded shortly thereafter and the first law the new Iraqi puppet government revoked was that one. Iran has been threatening to sell oil in gold and the result has been the current Iranian crises. Seriously, I am starting to think its time to put the tinfoil hat on.
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Gaddafi also planned on selling oil in gold.
 
Now I want somebody who knows more about currencies/economics than myself to riddle me this;

The Yuan is weak when compared to other currencies in terms exchange rates. What will happen if oil started trading in Yuan? Viva cheap oil, viva for everyone? Or doesn't it work like that?
 
thestaggy said:
Now I want somebody who knows more about currencies/economics than myself to riddle me this;

The Yuan is weak when compared to other currencies in terms exchange rates. What will happen if oil started trading in Yuan? Viva cheap oil, viva for everyone? Or doesn't it work like that?
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No, they will start selling at a relative exchange rate.
 
thestaggy said:
Now I want somebody who knows more about currencies/economics than myself to riddle me this;

The Yuan is weak when compared to other currencies in terms exchange rates. What will happen if oil started trading in Yuan? Viva cheap oil, viva for everyone? Or doesn't it work like that?
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Highly doubtful but that would be epic :D.

The americans are fighting wars to keep the dollar alive, i used to think it was about oil but now i realize it is about currency. They would be in spain's situation should the dollar ever be replaced. That is something they will go to war over. Mess with dollar you will bring the might of the empire upon you but russia, china and iran are not iraq and libya.
 
killadoob said:
Highly doubtful but that would be epic :D.

The americans are fighting wars to keep the dollar alive, i used to think it was about oil but now i realize it is about currency. They would be in spain's situation should the dollar ever be replaced. That is something they will go to war over. Mess with dollar you will bring the might of the empire upon you but russia, china and iran are not iraq and libya.
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/me gets popcorn and nuclear fallout shelter ready
 
Countries have been moving away from the dollar standard for a while now. This is not new news. Returning to the gold standard would be retarded. The fiat system works better. The gold standard was one of the main reasons for the Great Depression.
 
ghoti said:
Countries have been moving away from the dollar standard for a while now. This is not new news. Returning to the gold standard would be retarded. The fiat system works better. The gold standard was one of the main reasons for the Great Depression.
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Ok so we are nearing the great depression or for many countries they are living it, so how has the system worked over the gold standard?

We cannot print gold. So comparing the two is silly.
 
ponder said:
In other words they wanted to simply print money.
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I dont understand?

They changed to the fiat system because the value of a country was more than its stockpile of gold. Im sure you would agree that the value of a country is more than its gold. Fiat is more complicated as it involves way more, like fishing industry, other minerals, farming capacity and other forms of production. Countries that ended the gold standard recovered from the great depression faster than countries that hung onto it longer. Banks and governments stockpiling gold lead to the economic stagnation of the Great Depression. The fiat system is way better at handling booms and busts.
 
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A few missiles will rain down before the dollar is dropped, the beast will not let go easily.
 
This is awesome news.

It will help equalize the value of money between world powers, this will weaken some while strengthening others and bring us one step closer to planetary balance.

:D
 
Cius said:
Source

This news is simply huge. Don't know what to think about this. Also today I see that central banks across the world have been buying gold like its going out of fashion. Gold purchases by central banks is up 138% which seems to imply that governments the world over are converting their dollar reserves into hard currency (gold).

I'm starting to think that the world leaders already are planning for the collapse of the dollar and are quietly preparing for that eventuality. This oil move by China and Russia is huge yet the news has been dead quiet about it. The last time this happened was when Iraq passed a law saying they would sell oil in other currencies. They where invaded shortly thereafter and the first law the new Iraqi puppet government revoked was that one. Iran has been threatening to sell oil in gold and the result has been the current Iranian crises. Seriously, I am starting to think its time to put the tinfoil hat on.
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Hey, us "conspiracy theorists" have been saying this for ages :rolleyes:

Lindsey Williams, Alex and all of them have pointed to this very event.
And this is not the first time it has been raised either, more recently India bought oil from Iran in Gold, Japan and China have taken similar moves away from the Dollar amongst each other.

Russia and China are leading the charge. More than a year ago, the two nations made good on talks to move away from the dollar and have been using rubles and renminbi to trade with each other since. A few months ago the second-largest economy on earth – China – and the third-largest economy on the planet – Japan – followed suit, striking a deal to promote the use of their own currencies when trading with each other. The deal will allow firms to convert Chinese and Japanese currencies into each other directly, instead of using US dollars as the intermediary as has been the requirement for years. China is now discussing a similar plan with South Korea.
Source
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The dollar is holding on by manipulation and nothing else. Lindsey has predicted the purchasing power of the dollar will drop by the end of the year, it will be dead (not gone, just dead); building and building debt worldwide, which also ties in with what Max Keiser is saying.

Here he is interviewed by Alex. The important bit is to listen to what he says, the points he makes throughout.
As Alex says, most of what Lindsey has revealed in the past has played out just as he said.


[video=youtube;nW4cDd_A8-Q]http://www.youtube.com/watch?feature=player_embedded&v=nW4cDd_A8-Q[/video]

Of course there is always misinfo or timelines might alter, and Lindsey always says that his sources offer him this info so that he can get it out there to prevent the events in the first place; so if public awareness increases the events might not unfold. That is the aim.
 
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alloytoo said:
The US is engaging in the practice of Quantitative Easing, they are trying to lower the value of their currency, and the Chinese would they didn't.
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What?

Yeah the Chinese must be pretty pi$$ed, investing all that money in the dollar never thinking the US would deliberately devalue their currency, now they're avoiding it like the plague and bypassing the petro-dollar altogether.

'QE infinity' will fail, and will only postpone the inevitable and make it even worse. They should've taken their cue from Iceland, but no they pile "good money" onto bad.
 
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