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West begins to abandon USD

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  • West begins to abandon USD

    Late yesterday, the government of the United Kingdom announced that they would be applying to join the Chinese-led Asian Infrastructure Investment Bank… as a founding member...

    Right now, the United States dominates the global financial system. But after years of endless wars, spying, debt, money printing, bailouts, and insane regulations, the rest of the world has had enough. And they’re looking for an alternative.

    The soon-to-be-live Chinese International Payment System (CIPS) will provide a way for banks to transfer funds to one another without having to use the US banking system… or the US dollar.
    New Zealand was the first western nation to join AIIB back in October. And yesterday afternoon, Britain announced its intention to become the second...This is a massive, embarrassing blow to the United States, and to the future of the US dollar.

    It’s pretty obvious when you look at the dozens of signatories to the NDB and AIIB charter documents: the rest of the world is sick and tired of the United States dominating the global financial system. And by putting these new development banks and alternative payment systems together, they’re actually doing something about it.

    Even America’s own allies have supported this anti-dollar movement. Last summer the French Finance Minister explained to reporters how completely unnecessary it was for a European aircraft manufacturer to sell jets to European airlines in US dollars (instead of euros). He also slammed the US government for arrogantly fining French bank BNP a whopping $9 billion for doing business with countries that the US doesn’t like...

    His conclusion? It’s time for a ‘rebalancing’ of the global financial system away from the US dollar. Other political allies of the United States have echoed similar sentiment.
    It's about time.

  • #2
    Capitalists claim competition is a GOOD thing, so.... I guess we shall see!
    "Neighbor, how long has it been since you’ve had a big, thick, steaming bowl of Wolf Brand Chili?”

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    • #3
      Haters gonna hate...
      That's what
      - She

      Without a clear-cut definition of sin, morality becomes a mere argument over the best way to train animals
      - Manya the Holy Szin (The Quintara Marathon)

      I may not be as old as dirt, but me and dirt are starting to have an awful lot in common
      Stephen R. Donaldson

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      • #4
        Originally posted by Cow Poke View Post
        Capitalists claim competition is a GOOD thing, so.... I guess we shall see!
        Isn't balance of power a good thing as well?

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        • #5
          Originally posted by Paprika View Post
          Isn't balance of power a good thing as well?
          Depends on which animals are "more equal" than the others.
          That's what
          - She

          Without a clear-cut definition of sin, morality becomes a mere argument over the best way to train animals
          - Manya the Holy Szin (The Quintara Marathon)

          I may not be as old as dirt, but me and dirt are starting to have an awful lot in common
          Stephen R. Donaldson

          Comment


          • #6
            Originally posted by Bill the Cat View Post
            Depends on which animals are "more equal" than the others.

            No one is talking about communistic Equality. Just as competition in reality is not perfect but is better that no competition, it is much better to have some balance of power rather than none.

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            • #7
              Originally posted by Paprika View Post

              No one is talking about communistic Equality. Just as competition in reality is not perfect but is better that no competition, it is much better to have some balance of power rather than none.
              M7GgFg3.jpg
              That's what
              - She

              Without a clear-cut definition of sin, morality becomes a mere argument over the best way to train animals
              - Manya the Holy Szin (The Quintara Marathon)

              I may not be as old as dirt, but me and dirt are starting to have an awful lot in common
              Stephen R. Donaldson

              Comment


              • #8
                Originally posted by Bill the Cat View Post
                *Original point is stupid, pretends it's a joke*

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                • #9
                  Originally posted by Paprika View Post
                  You really should remove that stick from your butt, Pap.
                  That's what
                  - She

                  Without a clear-cut definition of sin, morality becomes a mere argument over the best way to train animals
                  - Manya the Holy Szin (The Quintara Marathon)

                  I may not be as old as dirt, but me and dirt are starting to have an awful lot in common
                  Stephen R. Donaldson

                  Comment


                  • #10
                    Originally posted by Bill the Cat View Post
                    You really should remove that stick from your butt, Pap.
                    Given that you don't seem to like the results, you really should stop conversing with me.

                    Comment


                    • #11
                      Originally posted by Paprika View Post
                      My personal space is offended by the intolerance of your white, bourgeois, paternal-centric attitude. Now shut up, Dad, and go buy some groceries while I move back into your basement.
                      That's what
                      - She

                      Without a clear-cut definition of sin, morality becomes a mere argument over the best way to train animals
                      - Manya the Holy Szin (The Quintara Marathon)

                      I may not be as old as dirt, but me and dirt are starting to have an awful lot in common
                      Stephen R. Donaldson

                      Comment


                      • #12

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                        • #13
                          Update: In addition to the UK, Germany, France and Italy - these are the four largest European economies - have applied to join the AIIB, also Switzerland and Luxembourg. Doubtlessly many more will follow.

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                          • #14
                            Couldn't come at a better time. Right when the fake US recovery is beginning to show signs of how fake it is and EU countries (including Germany) are on the brink of yet another societal breakdown in spite of its own version of QE. Wait til Greece leaves; that's when it should really be fun to watch western economic meltdown
                            "I was the CIA director. We lied, we cheated, we stole, it was like... we had entire training courses. It reminds you of the glory of the American experiment." - Mike Pompeo, Secretary of State (source).

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                            • #15

                              The US caves and offers to cooperate.

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