West begins to abandon USD

[Bill the Cat]

You really should remove that stick from your butt, Pap.

[Paprika]

*Original point is stupid, pretends it's a joke*

[Bill the Cat]

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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[Paprika]

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.

[Bill the Cat]

Isn't balance of power a good thing as well?

Depends on which animals are "more equal" than the others.

[Paprika]

Capitalists claim competition is a GOOD thing, so.... I guess we shall see!

Isn't balance of power a good thing as well?

[Bill the Cat]

Haters gonna hate...

[Cow Poke]

Capitalists claim competition is a GOOD thing, so.... I guess we shall see!

[Paprika]

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.