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Author Topic: Chinas yuan surpasses euro as worlds second trade currency  (Read 1868 times)

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Offline Croix de Fer

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Chinas yuan surpasses euro as worlds second trade currency
« on: December 04, 2013, 11:11:38 PM »
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    SHANGHAI (AFP) - China's yuan has overtaken the euro to become the second most-used currency in international trade finance, a global transaction services organisation said on Tuesday.

    The market share of the yuan, also known as the renminbi (RMB), in traditional trade finance reached 8.66 per cent in October, surpassing the euro on 6.64 per cent, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) said in a statement.

    Global trade remains utterly dominated by the US dollar, which it said had an 81.08 per cent share.

    "The RMB is clearly a top currency for trade finance globally and even more so in Asia," said Franck de Praetere, Asia Pacific head of payments and trade markets for SWIFT.

    TO READ THE FULL STORY...


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    Blessed be the Lord my God, who teacheth my hands to fight, and my fingers to war. ~ Psalms 143:1 (Douay-Rheims)


    Offline soulguard

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    Chinas yuan surpasses euro as worlds second trade currency
    « Reply #1 on: December 05, 2013, 05:58:55 AM »
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  • Good. I am glad. In fact I mock the western powers who currently fail supreme as it is the beginnings of a just return for all of the evil they have foisted upon the world.
     :alcohol:


    Offline icterus

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    Chinas yuan surpasses euro as worlds second trade currency
    « Reply #2 on: December 06, 2013, 03:46:38 PM »
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  • Right.  Not many Jєωs in China, right?  So, this can't be a bad thing.  

    Offline Capt McQuigg

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    Chinas yuan surpasses euro as worlds second trade currency
    « Reply #3 on: December 06, 2013, 06:00:00 PM »
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  • Quote from: icterus
    Right.  Not many Jєωs in China, right?  So, this can't be a bad thing.  


    Do you think they will migrate to China if the U.S. continues to decline?  There is a strong historical pattern of that taking place.  

    Offline ggreg

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    Chinas yuan surpasses euro as worlds second trade currency
    « Reply #4 on: December 08, 2013, 04:30:29 PM »
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  • Quote from: soulguard
    Good. I am glad. In fact I mock the western powers who currently fail supreme as it is the beginnings of a just return for all of the evil they have foisted upon the world.
     :alcohol:


    I am with Soulguard on this.

    The western world had the power to get this right or screw it up and threw away its birthright and hundreds of years of blessings by God.  It sold itself down the river for a mess of pottage.

    If we could have all been made into immortal Olympic athletes travelling to the stars and seeing wonders perhaps giving up our birthright would at least be understandable as a temptation.  But we traded Mozart and Rembrandt for Kim Kardashian and twerking.  That's just stupid.

    I cannot weep for a culture that has committed collective ѕυιcιdє and aborts its own children.  It is not like we western countries are the North Koreans.  Every four years we could have turned this around but we have failed time and time and time again to vote for half decent leaders.

    Role on the Chastisement, say I, and let's enjoy the wrath of God  :popcorn:

    A billion dead babies demand justice and I for one don't want to see them denied it.


    Offline LaramieHirsch

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    Chinas yuan surpasses euro as worlds second trade currency
    « Reply #5 on: December 09, 2013, 06:01:28 AM »
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  • Quote from: ggreg
    Quote from: soulguard
    Good. I am glad. In fact I mock the western powers who currently fail supreme as it is the beginnings of a just return for all of the evil they have foisted upon the world.
     :alcohol:


    I am with Soulguard on this.

    The western world had the power to get this right or screw it up and threw away its birthright and hundreds of years of blessings by God.  It sold itself down the river for a mess of pottage.

    If we could have all been made into immortal Olympic athletes travelling to the stars and seeing wonders perhaps giving up our birthright would at least be understandable as a temptation.  But we traded Mozart and Rembrandt for Kim Kardashian and twerking.  That's just stupid.

    I cannot weep for a culture that has committed collective ѕυιcιdє and aborts its own children.  It is not like we western countries are the North Koreans.  Every four years we could have turned this around but we have failed time and time and time again to vote for half decent leaders.

    Role on the Chastisement, say I, and let's enjoy the wrath of God  :popcorn:

    A billion dead babies demand justice and I for one don't want to see them denied it.


    No kidding.  Folks have this coming.  Thumbs up.
    .........................

    Before some audiences not even the possession of the exactest knowledge will make it easy for what we say to produce conviction. For argument based on knowledge implies instruction, and there are people whom one cannot instruct.  - Aristotle

    Offline ggreg

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    Chinas yuan surpasses euro as worlds second trade currency
    « Reply #6 on: December 09, 2013, 07:07:27 AM »
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  • However, in the absence of the Chastisement OR a global war, I think the USD will be the reserve currency for at least another 10-20 years.  There are no viable alternatives.  Euro is a laughing stock and China is full of Chinese people and has no rule of law or proper human rights.  Nobody is going to trust the Chinese until they have been politically stable for 50 more years.

    The Chinese cannot dump their USD holdings without destroying their own economy.  Moreover it is mainly American demand that is keeping them busy.

    I think what will happen is that the US will simply start defaulting on payments one at a time, call it a restructuring or postponement  and slowly, over a long period, erode their debt to manageable levels.  That seems to be the most practical plan that leaves everyone relatively happy and lets them save face.  Rob people slowly and they mind less.

    One has to admit, the Cassandras have been wrong.  It is nearly 2014 a while the last seven years have no been a picnic, we have not had an economic collapse, stock market crash, or Mad max style breakdown, despite all the warnings that it was just around the corner.

    Another seven years of this and you would have wasted 14 years worrying about something that might never happen.  Even I am surprised that they managed to keep the world economy together as they did.

    Offline icterus

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    Chinas yuan surpasses euro as worlds second trade currency
    « Reply #7 on: December 09, 2013, 01:26:35 PM »
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  • I agree with the above post by ggreg.  


    Offline Croix de Fer

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    Chinas yuan surpasses euro as worlds second trade currency
    « Reply #8 on: December 09, 2013, 07:23:40 PM »
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  • Quote from: ggreg
    However, in the absence of the Chastisement OR a global war, I think the USD will be the reserve currency for at least another 10-20 years.  


    A global war will be used to avert the collapse of the U.S. dollar and its replacement as the reserve currency and petrodollar. But this will only happen IF the U.S. wins. If the U.S. loses, she will NEVER be a formidable nation in the world ever again - whether militarily, economically or geo-politically.

    It must be noted that despite Saudi Arabia's collusion with Israel to possibly wage war against Iran, and both countries' current proxy war against Syria, the house of Saud has indicated they no longer desire to sell oil in U.S. dollars, hence, the dollar would no longer be the petrodollar, which will likely lead it to losing its world reserve currency status, too. This will be in spite of the fact the U.S. would join Saudi Arabia and Israel in attacking Iran (in order for the U.S to keep the dollar as the reserve currency and petrodollar). Perhaps, also, the U.S. would make a deal with the Saudis to keep oil priced in U.S. dollars if they fight another war for them by attacking Iran, which would inevitably lead to a calamitous world war.

    However, there is another camp that believes everything that has transpired up to now is orchestrated, and maneuvering to "save" the dollar is mere posturing. The intent, even with political forces inside the U.S. who are mere puppets for an international organized crime syndicate, is to destroy the dollar. It's an engineered collapse, which will force the U.S. and much of the world to integrate currencies into a "one world currency", which will primarily be digital, although paper forms will still circulate. There actually might be two primary world currencies that "compete" with each other, but it will mostly be a stage show because ultimately both will be controlled by the same Satanic cabal. The reason the great collapse has not occurred yet is purposeful - the Money Manipulators are still putting everything into place that will make it happen most efficaciously, while they effect themselves in positions to extract the spoils. Humanity's loss will be their gain. It is a Hegelian Dialectic. This will also help finalize the ushering in of a Satanic one world government.



    Quote
    I am with Soulguard on this.

    The western world had the power to get this right or screw it up and threw away its birthright and hundreds of years of blessings by God.  It sold itself down the river for a mess of pottage.

    If we could have all been made into immortal Olympic athletes travelling to the stars and seeing wonders perhaps giving up our birthright would at least be understandable as a temptation.  But we traded Mozart and Rembrandt for Kim Kardashian and twerking.  That's just stupid.

    I cannot weep for a culture that has committed collective ѕυιcιdє and aborts its own children.  It is not like we western countries are the North Koreans.  Every four years we could have turned this around but we have failed time and time and time again to vote for half decent leaders.

    Role on the Chastisement, say I, and let's enjoy the wrath of God  :popcorn:

    A billion dead babies demand justice and I for one don't want to see them denied it.


    I entirely agree.
    Blessed be the Lord my God, who teacheth my hands to fight, and my fingers to war. ~ Psalms 143:1 (Douay-Rheims)