War on America, a money war!

Discussion in 'General Discussion' started by Marlin T, Mar 31, 2009.

  1. Marlin T

    Marlin T Well-Known Member

    Jul 8, 2005
    New Mexico
    War on America, a money war!

    This could get ugly real fast, especially if China starts cashing in their bonds / our bonds for a new gold backed dollar. This might hurt REAL bad.

    Russia, China cooperate on new currency proposals

    Russia and China are coordinating proposals on a new global currency that could replace the US dollar as a reserve currency to prevent a repeat of the global economic crisis, the Kremlin said on Monday.

    "We have received proposals from our colleagues in China, detailed proposals," President Dmitry Medvedev's top economic adviser Arkady Dvorkovich said. "Our positions are very similar.

    "We have similar positions on the development of the international financial architecture," he told reporters.

    Ahead of the Group of 20 summit in London later this week, the Kremlin has published a raft of proposals to overhaul the global economic order, including plans for a supra-national currency that could replace the US dollar.

    China has come forward with similar ideas.

    US President Barack Obama has said he does not see why the dollar should be replaced and British Prime Minister Gordon Brown said the summit would have more immediate issues to discuss.

    "So far, not everybody is ready for that," acknowledged Dvorkovich. "We will insist on that at all levels."

    Medvedev has said the international community should have a say when the world's richest countries make decisions with global implications, as in the US financial crisis, sparked by the collapse of the market for subprime or higher risk mortgages.

    Moscow also understood however, that many countries were not ready to undertake additional "political obligations," said Dvorkovich, expressing hope that major economies would at least be open to consultations on the subject.

    Dvorkovich said he hoped Russia and other major developing economies would also get an equal say and the attention they deserve during the G20 meeting.

    "We are hoping that our voice will be heard but I would like to stress that we do not have a desire to pit our voice against that of our partners," he said, referring to developing economies Brazil, India and China who join Russia in what is known collectively as 'BRIC.'

    "There will be no separate joint (BRIC) communique, nor should there be," Dvorkovich said. "This is the summit of the leaders of the G20 countries."

    Critics have suggested China and the United States, whose economies are closely intertwined, would likely steal the show by promoting their own agenda and turning the G20 forum into a 'G2' summit.

    Dvorkovich said the US and China would have ample time to discuss bilateral issues on the summit's sidelines

    Separately, Dvorkovich said Medvedev would meet Australian Prime Minister Kevin Rudd on April 1, just before the summit. Medvedev was also scheduled to meet US President Barack Obama, China's Hu Jintao and Britain's Brown that day.
    Last edited: Mar 31, 2009
  2. glocknut

    glocknut Active Member

    Dec 14, 2003
    This gives me a stomach ache... :(


  3. TranterUK

    TranterUK Guest

    It also makes me quite sick mike. Can it only be so few who sees what is happening here?

    Keep an eye on London tomorrow, might be interesting. Some people have already been stopped on their way into this country for the 'protest' under the prevention of terror act.
  4. Islandboy

    Islandboy New Member

    Feb 21, 2009
    Off the right coast
    Amazing as it is, I think there are very few who see what is coming.
    Rock, Lock and Load, or at least be ready to.
    Seriously though, none of this bodes well for mankinds infrastructure, meaning
    are all tied into this turning point.
    Is our foundation of family and work ethic so eroded that we will grasp at the most feeble promise from a fool?

    By the way, these other countries pulling away from and seeking new allegiances are suffereing from the same lack of leadership.
    They have all had it so good for so long that they don't know how to deal with a real challenge.
    It ain't the cake and icecream that makes you who you are........