Monday, April 1, 2013

5 of 10 Top Economies in the World Drop the Dollar

Activist Post

The U.S Dollar is quickly losing its status as the world reserve currency. Five of the top ten economies in the world, plus a few others, no longer use the dollar as an intermediary currency for trade. This trend poses a huge risk to the dollar and the United States along with it.

ZeroHedge points out today that Australia, the world's 12th-ranked economy, has now joined a growing list of nations that have agreed to bypass the dollar in bilateral trade with China. China, ranked 2nd behind the U.S., also has similar agreements with Japan (3rd), Brazil (6th), India (9th), and Russia (10th).

Although unilateral agreements have been in place for some time between China and the countries listed above, last week the BRICS (Brazil, Russia, India, China and South Africa) agreed to set up a development bank to compete with the IMF, indicating it's gearing up to compete in a post-dollar world.

Additionally, Brazil, who agreed in principle to drop the dollar with bilateral trade with China some time ago, just made it official with $30 billion in annual currency swaps which will facilitate around 50% of all trade between them.



Besides those agreements with China, some of these nations have made other similar agreements with each other. India and Japan began swapping $15 billion in each other's currency in 2011 to handle their bilateral trade. And the sanctions against Iran haven't stopped them from trading oil with China, Russia, and India in anything but the dollar.


Here's how the current reign of the US dollar compares to previous world reserve currency:

Source
It appears that the dollar is certainly nearing the end of its reign, which could lead to severe economic hardship for the United States.

Dave Hodges writes:
The United States’ good economic fortune is due solely to the fact that world must use the dollar, the Petrodollar if you will, in order to make their nation’s individual oil purchases; this provides the only source of backing for the U.S. dollar that the Federal Reserve requires in order to somewhat sustain our back-breaking debt that the banker-occupied United States government has passed along to the American taxpayer in the form of bailouts.
And Marin Katusa of Casey Research writes:
If the US dollar loses its position as the global reserve currency, the consequences for America are dire. A major portion of the dollar's valuation stems from its lock on the oil industry – if that monopoly fades, so too will the value of the dollar. Such a major transition in global fiat currency relationships will bode well for some currencies and not so well for others, and the outcomes will be challenging to predict. But there is one outcome that we foresee with certainty: Gold will rise. Uncertainty around paper money always bodes well for gold, and these are uncertain days indeed.
America's imperialism, combined with its ultra-fiat status of unending debt creation, appears to have created a final downward spiral that has caused many of the top economies to abandon a sinking ship. It might not be too much longer before the rest follow suit. Now might be a great time to consider diversifying into other currencies, and even digital currencies, to mitigate growing losses in the U.S. dollar.

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35 comments:

Anonymous said...

Well Folks... Here we go... Now we know what DHS and FEMA have been preparing for....

Rick2012 said...

Are they going to let the brics win?I am afraid not without a war,maybe they(the cabal behind US,london and rome power)try to start it in Korea or in the middle east.

Anonymous said...

That's right, DHS along with all of the creepy NDAA & Patriot Act laws are plans for dealing with the huge numbers of people in the US receiving a "gubmint check" who won't be in the near future...
That includes senior who've earned their retirements, the military & all of the federal retired employees.
The worst off will be those getting money in the mail.
My guess is that when this finalizes. one could find any inner city by looking at the palls of smoke on the horizon from coast to coast.

Anonymous said...

so whats the bad news?

Theophilia Thomas said...

People need to start paying attention to what's going on. The writing has been on the wall for awhile now, things are going to get worse, and them they're not going to get better.

Anonymous said...

It's not like the fed and top elements of government couldn't see this coming, they knew their economic policies would usher in failure and ultimately collapse. Any high school student in general economics could figure this out, so they obviously wanted this outcome.

Anonymous said...

Isn't that why the USI went into Iraq, Libya, Syria and want's to move on to Iran to stop the oil producing countries from making deals not using USI crapo dollars.

Anonymous said...

The S approaching the F.

Anonymous said...

the end is coming quickly..most will be wiating for their new obama phones as he flees the country like dictators do when their country falls-we have one year left at most

wm

Anonymous said...

The writing is all over the wall for the empire.

Marje said...

You think all this is coming down because of Mr. Obama? Maybe you need to read up on modern history and see that it;s a bunch of old white guys who have created this mess. He;s just handy to take the blowback. If the R's wanted to be in charge when the S hits the F the supreme court would have given them the oval office again. But they know who to leave as the fall guy.....so you will be happy in having, you think, your bigotry confirmed.

Anonymous said...

maybe omama will move back to Kenya.

Anonymous said...

keep on shopping guys......and keep watching football and NASCAR events! And don't forget to upgrade to the next iPhone when that happens!!

Anonymous said...

your as ignorant as when you voted for that traitor

Anonymous said...

The old "white guys" are jews. Jews have been blaming whites for centuries for all their crimes. If this comment is not allowed then you are a hippocrit for leaving the anti-white bullshit and taking down the truth.

brad said...

Dudes and dudettes - We'd better get OUR act together and help each other out as best as possible. Form local support groups as soon as the lemmings finally figure things out - about 6 minutes after they are near roadkill, but then they will be motivated.

Anonymous said...

"You're". And it is the Republicans who are blocking all progressive legislation that would get us out of our fiscal crisis created from their wars and their bailouts.

Hide Behind said...

HMMM. The inmates trying to figure which nut case got them into the assylum?
THOSE nations have not given up using dollars or have they given up accepting them from anyone epse ; Just not amongst themselves.
This is not an unheard of move by nations, and it is in fact a way to eventually strengthen the Dollar USD.
places such as Japan and S Korea have been hemoraging out USD to every pea pot nation for their natural resources.
This means the pooreest and least sophistcated and resource rich but dollar poor will be soaking up USD by the C-130 full..
THOSE poor black. Brown and now se asia wil all be getting the hell blown out of them and dollars from resources go back to US military industrial financial pockets.
We sell em very expensive toys to kipl each other with as some nations dump their almost valueless bucks upon them

Hide Behind said...

Aussies love those dollars that are pouring in tobuild worlds largest mulinational combat training complex. It will cover millions of acres and include all eccept high mpuntains but winter is just a skop away to NZ and gurther sputh.
USDIES LOVE uS paying for their deployments and new naval bases as well.
.

Anonymous said...

Ha! I love how the majority of people here think it is a republican or a democrat that isn't letting "this" happen or causing "that" to happen. These people are doing the bidding! They are all the same, just trying to take as much out of the system as they can before their rulers call it game over and that icludes the last 5-6 presidents and probably a lot more before that. These people don't care about you and they are not trying to bring about a solution, wake up and start preparing yourself because by the time the masses wake up it will be to late for you. There will be runs on banks, food, weapons, shelter, gasoline. the cities will burn and people will starve. The elite will crawl undergound and wait for the dust to settle while we all sort out the population problem.

Happy times

Anonymous said...

Don't worry folks all is according to the Divine Plan. Oh!... you did not know the God you worship is a God of Chaos and Destruction?

Anonymous said...

World Monetary Crash as foretold by Jesus& Mary at shrine in New York City.(Queens)

Anonymous said...

Believe it or not, biblical prophecy predicted this drop of the dollar as the world's reserve currency.

Like leeches, the bankers fastened themselves on Great Britian and the United States, in 1694 with the creation of the Bank of England, and in 1913 with the creation of the Federal Reserve.

This curse of being under the money power was predicted in Deuteronomy 28:44. But it was also predicted that eventually the world would turn against the Anglo-American Establishment and the money power which rules it. You can find this prophecy in Habakkuk 2. "This day is this scripture fulfilled in your ears" (Luke 4:21).

Anonymous said...

Their wars? Are you still so stupid to believe there is any difference between dems and reps? Unbelievable. It's divide and conquer you moron. Two sides of the same tyrannical coin, designed to enslave you slowly and by your own design. You tighten your chains of bondage when you say "my side won so it's all good". Keep waiting for a solution from gov't, I'm sure you will love the results.

Anonymous said...

So what's the next reserve currency, Bitcoin?

Angel Writer said...

My question is what to do if your an American Citizen? Stay? Go? If you go, where? Is any other place really safe? Belize? Malaysia? Australia? Costa Rica? Canada? If not, stay here? What state in the Union is the safest? Alaska (due to remote location)? Montana (Canadian border, sparsely populated)? No place? Do you fight back? How? What is the most effective strategy?

Anyone who is paying attention sees the proverbial handwriting on the wall, but I am not seeing a whole lot of solutions for ordinary citizens. Telling me to vote isn't enough since both parties are duplicitous in this nightmare. Our nation has some severe problems that need addressed yesterday.

What are the solutions? Anyone....

BSVET said...

OBAMA THE POST TURTLE.........
'You know he didn't get up there by himself, he doesn't belong up there, he doesn't know what to do while he is up there, and you just wonder what kind of a dumb ass put him up there!.'

Anonymous said...

The US dollar stands in the way of progress
The petro dollar has squelched many alternative energy resources
high time it is abandoned .
As for Americans starving get a grip

The North American Union will be the envy of the world

Patrick Sullivan said...

Free energy was here a long time ago. Before Tesla it was a proven technology. 1871 Henry Paine operated a table saw using magnets and foil to power his saw.
The issue of who controls the bourse is what has sent us down the path of extinction. Nuclear weapons 150,000 thousand strong, built to end the discussion of who was right and who was wrong. Our fate to die in nuclear war, sealed by our betters in the counting houses.

Only the love of God our Father has spared us from weap Judah storm.

When will labor STRIKE THEM OUT and take control of the purse?

WE can build all the free energy we need to carry on in peace and plenty. To rely on Oil will only allow the cabal to crash the economy when they decide to. Do we not understand how important is the issue of money here?
Our kind neighbors, the Martians, have removed weap Judah boom boom blast power. Can we not get labor to awaken to its power and finish out this business model of virtual eternal death and destruction?
http://bitchworld.weebly.com/ufo-prevent-nuclear-shots.html

Anonymous said...

All this Middle Eastern rebellion does not bode well for the dollar if oil is the dollar's main backing.

Anonymous said...

If you have any capital get off the grid. Develop renewable sources of energy such as, wind, hydro, and solar. Buy land that is on a stream, river or creek where you can put in a turbine connected to a shaft with a generator to produce electricity and grow your own food and raise your own live stock. Let the rag heads drink their own oil and let the grocieries in Wall Mart Rot!

Anonymous said...

Liberals are not progressives, they are digressive .. This is all their fault.. Big Government, welfare programs etc.

Anonymous said...

Is this not simply part of the process toward a single global fiat currency and a movement of power from America and other strong individual countries and toward a 'world' government and eventually collectivism..?

Anonymous said...

Good theory!!!

Anonymous said...

Why do you Americans keep voting for the same two parties? I'll tell you why!
The amount of money put into the democratic and republican campaigns is enough to overwhelm any third party!
Where does this money come from?!
Is this true democracy?!
What would Jefferson and Jackson have to say about the current state of things?!
Ask yourself what the intentions are of those 'generous doners'..!

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