De-Dollarization happening now in Yekaterinburg

please see the following link:

inthesenewtimes.com...

it is more than clear now, that the BRIC (Brasil, Russia, India, China) are looking for the possibility to kick out the dollar and US out of the bussiness. they do not even hide it:

The city of Yakaterinburg, Russia’s largest east of the Urals, may become known not only as the death place of the tsars but of American hegemony too – and not only where US U-2 pilot Gary Powers was shot down in 1960, but where the US-centered international financial order was brought to ground. Challenging America will be the prime focus of extended meetings in Yekaterinburg, Russia (formerly Sverdlovsk) today and tomorrow (June 15-16) for Chinese President Hu Jintao, Russian President Dmitry Medvedev and other top officials of the six-nation Shanghai Cooperation Organization (SCO). The alliance is comprised of Russia, China, Kazakhstan, Tajikistan, Kyrghyzstan and Uzbekistan, with observer status for Iran, India, Pakistan and Mongolia. It will be joined on Tuesday by Brazil for trade discussions among the BRIC nations (Brazil, Russia, India and China). The attendees have assured American diplomats that dismantling the US financial and military empire is not their aim. They simply want to discuss mutual aid – but in a way that has no role for the United States, NATO or the US dollar as a vehicle for trade. US diplomats may well ask what this really means, if not a move to make US hegemony obsolete.

What may prove to be the last rites of American hegemony began already in April at the G-20 conference, and became even more explicit at the St. Petersburg International Economic Forum on June 5, when Mr. Medvedev called for China, Russia and India to “build an increasingly multipolar world order.” What this means in plain English is: We have reached our limit in subsidizing the United States’ military encirclement of Eurasia while also allowing the US to appropriate our exports, companies, stocks and real estate in exchange for paper money of questionable worth.

For starters, the six SCO countries and BRIC countries intend to trade in their own currencies so as to get the benefit of mutual credit that the United States until now has monopolized for itself. Toward this end, China has struck bilateral deals with Argentina and Brazil to denominate their trade in renminbi rather than the dollar, sterling or euros,3 and two weeks ago China reached an agreement with Malaysia to denominate trade between the two countries in renminbi.[4] Former Prime Minister Tun Dr. Mahathir Mohamad explained to me in January that as a Muslim country, Malaysia wants to avoid doing anything that would facilitate US military action against Islamic countries, including Palestine. The nation has too many dollar assets as it is, his colleagues explained. Central bank governor Zhou Xiaochuan of the People’s Bank of China wrote an official statement on its website that the goal is now to create a reserve currency “that is disconnected from individual nations.”5 This is the aim of the discussions in Yekaterinburg.

and at the end:

If China, Russia and their non-aligned allies have their way, the United States will no longer live off the savings of others (in the form of its own recycled dollars) nor have the money for unlimited military expenditures and adventures. US officials wanted to attend the Yekaterinburg meeting as observers. They were told No. It is a word that Americans will hear much more in the future.

this really look like the very serious attempt for overtaking the Steering-wheel of the financial world.

tommorrow can be the day we were all warned about. lets keep an eye on.

and BTW, I did a search and I did not found that info. but Mods, if I am wrong just close it down. thanks

good. America needs a serious reality check, like a spoiled kid with bad parents. We get whatever we want at the expense of others, and its time to smarten up and step down from the proverbial throne. No country should be so much higher then the others... because being on top yields to resentment from those on the bottom

a-la yertle the turtle.

reply to post by Kevin_X1


A'hem, politicians need a reality check, and those kids from 'Sweet 16'.lol

I mean, your talking about a reality check, which includes millions and millions, of new homeless people, broken families, 100 percent increase in crime at minimum, for a simple reality check...

It may have to come to that, but I don't think we should urge the worst case scenario, although i'll steal from the day the earth stood still.

Mans prespice is only at the point before absolute destruction.

Or something along that line.

Edit for: Just woke up from a nap and notice typos!

[edit on 15-6-2009 by Republican08]

People need to realize at this early time that law is a set of rules to control you.

If you live in America - you need to constantly review the laws that constrain you, and decide if they are good and just or not - those that are not just should not be obeyed.

reply to post by Republican08


all im trying to say is, americans need to cut their credit cards in half and live within their means... just like any other nation. that goes for politicians and people alike... and i see it in canada just as much. people in our part of the world hold themselves so high these days that they need to justify that feeling of high and mighty with lots of shiny stuff.

not to say that some people aren't respectable and modest, my parents came from the ground up and with all their money still managed to raise me with a sense of the value of things. I just think north Americans (which includes myself) need to be knocked down a peg and realize their are people across the world who are dying in a house made of mud, and probably happier then any of us. more more more...

The dollar may be replaced someday.But not until a more dependable form of currency is found.Even in its weakened state its preferred by most countries.

reply to post by AgentX09


I would like to belive that you are right. not because I love dollar as it is but because of the really hard transition time we will go through. I am sure that we (I mean the common people) are going to loose on it again.

but I think that it is not that hard to avoid dollar in the trade between the certain countries on the begining and building really fast the multicurrency (just as the euro was created in a small period of time).

reply to post by Kevin_X1


Dude, I hear ya, from my retailing job, I've gone threw grown people having declined 10 of their cards, their new one is ACCEPTED!

I listen to the radio, "Think you can't buy a new lexus? Worried because you've lost you're job that you can't own your dream car? Not to worry, we are financing you! We will help consult you and drive out of the lot the same day!"

And I die inside, have people not learned how we got into the mess? The gov't has us in extreme debt, so why not divulge right on into it ourselves.

Self respect. They can start fixing this mess, by teaching in school personal financing!!!!!!!!!!!!!!!!! I stress that, teach financial information in Elementary school, and high school!!!!!

Teach kids the stock market, bonds, economy, shouldn't be the last class you take while your partying the whole year, i've been a senior, don't remember my senior year at all!

Until we change the Media, Commercials, the Songs (I make it rain) and all these influences, and the keeping up with the jones' philisophy is killing us all. Soon it'll be keeping up with the zimbabweans!

People are extremely ignorant though. My car is a Lincoln 96, with handicap plates, I bought it for 2k blue book value is 4k. It runs perfect.

I still get as many ladies as the guy in a corvette, even prettier ones, I still get treated with respect, I have the same lifestyle he has, i'm just not in extreme debt.

I don't understand why few people are upset about the de-dollarization from these countries... Do you really believe that they SHOULD pay for the american mistakes? Keeping buying more and more dollars?

2nd

small update:
www.globalresearch.ca...

During their summits in the Russian city of Yekaterinburg on Tuesday, SCO and BRIC members urged the creation of a new global financial security system, reiterating their drive to act in concert to weather the economic meltdown. The ongoing global economic slump topped the agenda of the Yekaterinburg summit with SCO leaders also dealing with ways to stave off terrorism and drug trafficking. Pointing to the necessity of updating the existing financial system as soon as possible, SCO nations also called for the creation of a new supranational currency to handle mutual transactions. In Moscow, finance expert Dmitry Smyslov believes that the move reflects the dollar starting to lose its clout as the world’s top reserve currency. Creating a new reserve currency is certainly a huge task, Smyslov admits, slamming Washington’s unwillingness to handle escalating US budget deficits in the past – something that he explains finally led to the global financial crunch. So the time is ripe to try and create a more diversified currency system, Smyslov insists, praising SCO members’ determination to jointly deal with the topic. Our correspondent says that a strong political will is needed to create a new global financial system, which will be crucially resolved by the joint efforts of all SCO nations. Separately, the BRIC summit saw the world’s biggest emerging economies calling for a bigger say in the world financial system, our correspondent goes on to say, adding that plans to build a new global financial architecture are already on the BRIC’s table. Meanwhile, SCO and BRIC members concentrate on finding ways to create a new supranational currency to handle regional transactions with a relevant deal already in the pipeline. The international community is all but sure to thumb up the would-be document, which aims to add to riding out the global economic downturn, our correspondent concludes.

I gotta laugh at that song..

Pretty soon we will ALL be making it rain, from hyperinflation, just to buy bread.

reply to post by czacza1


if the world stops using the USD as reserve currency then the US will be bankrupt pretty much. So the only solution is to drag Canada and Mexico into all this and form a 3 Nation currency because between the 3 of them they may be able to have some value as opposed to DEBT. The Amero is not as fantasy as it once seemed now is it?

These are scary times, our ecomony is tanking, and we are getting what we have had coming for a very long time. Karhma is a bitch, we survived(hell thrived) off of raping the ingnorant people in underdeveloped countrys, and bullied the entire world into fearing us. Now we are going to be the ones at the bottom of the totem pole. The fact that we were on top such a short time ago makes our downward spiral that much more miserating. Its a shame that we had to pay for our excessive greed in such a way but It was inevitable.

Bring on the Republic Credits!

reply to post by czacza1


Its not taking over the steering wheel, its sharing it FAIRLY!!!

The BRIC countries see how well the EU did with the EURO, how the markets reacted to the competition and how the Eurozone countries, while they have their own problems with the financial crises, do not have the burden of a bad reserve on top of it.

Lets be fair, the US ran riot with the USD as the reserve and main currency since WW2 when the European powers were devastated. The US had almost forty years of development ahead of the rest of the west and the USD was a huge contributing factor to that.

Now the USD that they have been using to invest their money in is being used by the US government to wipe their asses, its a fair enough assumption that they would try make another reserve to compete with the USD and the EURO and make everything a little more fair.

It is possible that this move will cause the USD to collapse over time but the US economy is too strong to let that happen so quickly that it would devastate the country.

Its just another nail in the coffin of the US empire... it wont be that bad. Judging by the British and French when they lost their empires, the hardest part will be getting over it mentally more than economically.

reply to post by Kevin_X1



I agree with yout 100%

BUT,the local news here yesterday did a lengthy segment on the "how to's" of calling your issuing credit-card bank and "negotiating" a lower payment if you pay off the balance.
The banks are hungry for cash flow and I firmly believe and have actually heard people say that they're running them up to the max secure in the knowledge that they:

Will be getting some sort of bailout/relief
Will be able to spend that 50K and only REALLY have to pay say 20 % of it to satisfy the debt.

The cycle just keep on keepin' on...prices are going up because no one's actually WORRIED about being able to afford anything,it's a "whatever,I'm not going to stress about it"/"Do it today!"/instant gratification process.

This sucks,sorry....not fair to the rest of us who pay their bills and it's becoming a LOT more blatant that the "monetary system" we are used to is simply being played with monopoly money.plastic,and with a helluva' lot of gambling going on.