Warning: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in ..../includes/class_bootstrap.php(430) : eval()'d code on line 134

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in ..../includes/class_bbcode.php on line 2958

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19
Russia and China Drop Dollar - Massive Good News for Silver!
Results 1 to 9 of 9

Thread: Russia and China Drop Dollar - Massive Good News for Silver!

  1. #1
    Join Date
    Nov 2009
    Posts
    263

    Default Russia and China Drop Dollar - Massive Good News for Silver!

    St. Petersburg, Russia - China and Russia have decided to stop using the US dollar and start to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

    "About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

    The yuan has now started trading against the Russian rouble in the Chinese interbank market, while it 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.

    Putin made his remarks after a meeting with Wen.
    Source: China Daily. Strangely not picked up much in the western business media as yet.......I wonder why?
    ------------
    This is bullish for silver as both countries, especially China, are rich in silver. Russia has a fair amount of gold.

  2. #2
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,581

    Default

    Quote Originally Posted by Edmund Law View Post
    St. Petersburg, Russia - China and Russia have decided to stop using the US dollar and start to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

    "About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

    The yuan has now started trading against the Russian rouble in the Chinese interbank market, while it 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.

    Putin made his remarks after a meeting with Wen.
    Source: China Daily. Strangely not picked up much in the western business media as yet.......I wonder why?
    ------------
    This is bullish for silver as both countries, especially China, are rich in silver. Russia has a fair amount of gold.
    As the psychopathic banksters react to this change, if history is any guide, expect lots of misery and murder as a result.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  3. #3
    Join Date
    Jan 2009
    Posts
    267

    Default

    Quote Originally Posted by Edmund Law View Post
    St. Petersburg, Russia - China and Russia have decided to stop using the US dollar and start to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

    "About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

    The yuan has now started trading against the Russian rouble in the Chinese interbank market, while it 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.

    Putin made his remarks after a meeting with Wen.
    Source: China Daily. Strangely not picked up much in the western business media as yet.......I wonder why?
    ------------
    This is bullish for silver as both countries, especially China, are rich in silver. Russia has a fair amount of gold.
    Don't look now but Drudge just slapped this up front and center as his main headline. Now it will get some play.

    http://www.drudgereport.com/
    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin

  4. #4
    Join Date
    Dec 2009
    Location
    Chicago
    Posts
    4,376

    Default

    Quote Originally Posted by Edmund Law View Post
    St. Petersburg, Russia - China and Russia have decided to stop using the US dollar and start to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.
    "About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.
    The yuan has now started trading against the Russian rouble in the Chinese interbank market, while it 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.
    Putin made his remarks after a meeting with Wen. Source: China Daily. Strangely not picked up much in the western business media as yet.......I wonder why?------------
    This is bullish for silver as both countries, especially China, are rich in silver. Russia has a fair amount of gold.
    It is news if some importance, but why you consider it "Massive" for Silver is beyond me. I grew up on the trading floors and whenever we heard someone using the word 'massive' as a descriptive in terms of a market, we always knew that: A. The person was new to the markets., and B. It was probably a good idea to look at the other side of the trade.

    I wonder why it took so long for the Russians and the Chinese to get around to this. It comes under the category of, they are finally tired of pissing at each other, and they're going to stop paying JPM, GS, and the other major forex dealers the extra tiny percentage to convert their currency. It is also an incremental step that the Chinese are making in saying they are getting a bit tired of dealing in Dollars. It may be of some importance to the energy markets, and it may have an effect on the Russian retail market.

    It would be much more of a big deal if the Chinese were to announce that they were doing the same thing with the Japanese, Koreans, or Europeans.

    PS, Let me know if the Chinese are considering letting the Yuan truly free float. That would be big news.

    Matthew C. Shelley
    Commodity Broker

    As always: Trading in futures and options is very high risk investing. You can lose all or more of the money you invest. Only risk capital should be used.

  5. #5
    Join Date
    May 2007
    Location
    Atlanta
    Posts
    10,577

    Default

    Quote Originally Posted by SilverJim View Post
    Don't look now but Drudge just slapped this up front and center as his main headline. Now it will get some play.

    http://www.drudgereport.com/
    I'll be surprised if this gets a lot of attention as they have been talking about this for some time now.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  6. #6
    Join Date
    Dec 2009
    Location
    North Idaho....The Silver Valley
    Posts
    1,495

    Default A Couple Coins for the Boatman

    They'll use their own fiats for trade....but what they'll do with their dollars is the bigger question?

    Send 'em back to the U.S. on a boat? Maybe they plan to outright flood the American market with some big commodity purchases.

    Get set for the screws of inflation....they could be turning and headed your way soon.

    Curiosity will not kill this Cat!

  7. #7
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,581

    Default They have banksters too.

    Quote Originally Posted by AgShaman View Post
    They'll use their own fiats for trade....but what they'll do with their dollars is the bigger question?

    Send 'em back to the U.S. on a boat? Maybe they plan to outright flood the American market with some big commodity purchases.

    Get set for the screws of inflation....they could be turning and headed your way soon.

    Curiosity will not kill this Cat!
    Let us hope that they will use them wisely to buy the silvery commodity.

    China, Russia quit dollar
    By Su Qiang and Li Xiaokun (China Daily)

    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  8. #8
    Join Date
    Nov 2009
    Posts
    263

    Default It is a significant development

    'Massive'..well we shall see. The future will be the judge of this. I think it will be seen in retrospect as a key development. I will review in 3 months on this forum.

  9. #9
    ccjoe is offline Senior Member Site Admin
    Join Date
    May 2009
    Location
    Orlando
    Posts
    2,962

    Default

    I agree with you Edmund as I thought the same as you when I first saw this yesterday.
    One more dip though

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •