Major economies lost confidence in the US economy, dumping the US dollars as currency for international trade.
Ah Beng Kiasu
the US economy.
The world was utterly shocked by the subprime debacle. Millions around
the world lost their life savings and they will remember this bitter
lesson for a long long time.
Most importantly, they lost their trust in the US economy and they are
conducting reviews on all financial links with the USA, to ascertain
weakness that could lead to huge losses.
Many countries have taken measures to prevent potential losses.
Experts the world over watched in dismay, how US failed to take any
corrective actions, to prevent the investment bankers and finance
companies from creating another debacle. They watched in disbelief,
how the USA gave hundreds of billions to help the financial crooks to
stay in business and to pay themselves billions in bonuses.
The US economy, continue to be managed such irresponsible people, is
surely destined for a bigger financial tsunami, by the next business
(boom/bust) cycle.
Countries like Russia, China, Saudi and other Gulf states, Turkey
countries in Latin Americas have taken steps to stop using US dollars
as the currency for bilateral trade. (see websites below)
The United Nations has called for the US dollars to be dropped as the
reserved currency. (see website below)
All these actions will not have an immediate impact on US economy, but
over the long term it will cause the US economy to suffer another melt
down, one that is much, much, more damaging than the subprime crisis.
It will be a super economicTsunami.
http://qwstnevrythg.com/2009/10/latin-america-iran-russia-china-may-drop-us-dollar/
http://www.gata.org/node/7944
http://socioecohistory.wordpress.com/2009/10/29/saudis-drop-wti-oil-contract/
http://www.economywatch.com/economy-business-and-finance-news/united-nations-drop-the-us-dollar-as-world-reserve-currency-09-09.html
Penang
When the world successfully decouples itself from US greenbacks, US
can go to hell and it still wouldn't affect the world, not even one
bit.
I can't wait for that to become reality.
Ah Beng Kiasu
>
> When the world successfully decouples itself from US greenbacks, US
> can go to hell and it still wouldn't affect the world, not even one
> bit.
>
> I can't wait for that to become reality.
The dollar is no longer the sole currency for international trade
like it used to be before the current recession.
Countries in Latin America, will conducted trade using a new
regional trading currency, dubbed as Sucre, instead of the
US dollar.
Saudi and the Gulf countries have already started selling
oil in their own currencies or selling oil for Yuan when
trading with China.
Russia and China will be trading in their own currencies.
Trade between Euro and China/Russia will not be in US
dollars.
Trade among Asian countries could be done in their
own currencies, dropping the US dollars.
After the current business contracts expire, in a couple
of years, major trading blocks will have business contracts
signed in other currencies.
The demand in US dollars will sharply drop by at least
50%, if not more. With an over supply of US dollars, its value
will evaporate like morning dew.
This will be the next financial crisis facing the US economy.
Countries with large foreign reserves (held in US dollar) will
find that their reserves becoming worthless.
It would be wise for these countries (including Singapore)
to convert their reserves to other currencies or to gold
holding.
Chairman Mao , expert fucker of Chinese High School Girl 's cunts in China
but not in the near future ,
it might take another 20 years
until 2030 before the Euro can dsplace the US$ .
Ah Beng Kiasu
School Girl 's cunts in China" <monsteroooodk...@gmail.com> wrote:
> the Green Back will fall,
>
> but not in the near future ,
>
Yes. Certainly not in the near future.
The US dollars had already fallen by 40% in value, against
the South African Rank and Australian dollars. In just 12 month,
the dollar has dramatically fallen by as much as 18%.
In the past , the dollar has fallen about just 10 % a year for
past five years.
Currency experts estimated the rate of fall for 2010 will
increased to, between 25% to 40%.
It means, for every US dollar you keep in your bank, by next
year, it will be worth only 60 cents.
Time to dump the dollar!
http://www.washingtonpost.com/wp-dyn/content/article/2009/10/28/AR2009102802347.html
http://www.nytimes.com/2007/09/21/business/worldbusiness/21iht-21dollar.7592153.html
wakalukong
Nov 5, 11:20 am, Ah Beng Kiasu <kiasu.ah.b...@gmail.com> wrote:
> On Nov 4, 8:42 pm, "Chairman Mao , expert fucker of Chinese High
> School Girl 's cunts in China" <monsteroooodk...@gmail.com> wrote:
>
> > the Green Back will fall,
>
> > but not in the near future ,
>
> Yes. Certainly not in the near future.
>
> The US dollars had already fallen by 40% in value, against
> the South African Rank and Australian dollars. In just 12 month,
> the dollar has dramatically fallen by as much as 18%.
>
> In the past , the dollar has fallen about just 10 % a year for
> past five years.
>
> Currency experts estimated the rate of fall for 2010 will
> increased to, between 25% to 40%.
>
> It means, for every US dollar you keep in your bank, by next
> year, it will be worth only 60 cents.
>
> Time to dump the dollar!
>
Wakalukong
> nothing can replace the green dollars yet so far .
-----------
You're wakalukong? BALLS, you're Komin the Thief. Don't think you
can hide here. Open your mouth.
[Shit]
Happy now? Hahahaha!
Wakalukong
the Black Fucking Learngar Cock of the Holy Boudha
did you fabricate the " Chinese Natives " of ASEAN ?
Ah Beng Kiasu
> nothing can replace the green dollars yet so far .
There is no need to replace the dollars. Just dump it
before it become worthless.