China and Russia Ditch Dollar?

[Joanne98]

Run time: 06:04 https://www.youtube.com/watch?v=93ON6KQZKes   Posted on YouTube: November 26, 2010 By YouTube Member: TheAlyonaShow Views on YouTube: 135   Posted on DU: November 26, 2010 By DU Member: Joanne98 Views on DU: 902

 
There's more of a shakeup for the global economy with London students protesting tuition hikes to the fear that Ireland's bailout, won't be the only one. And then there's China and Russia that have decided to quit the dollar. RT's Financial Correspondent Lauren Lyster breaks it down.



They started planning this right after BUSH invaded Iraq. BUSH lost the world's trust.

[herbm]

1. My crooked uncle once told me owing the bank $100,000 and the bank owns you. Owe the bank $1,000,000

and you own the bank. The banks never called his bluff until the number was big enough to interest the IRS. But that's another story.

The point is that its not in the interest of those holding trillions of dollars in US dept to shake it up too much. Remember how the Japanese made everybody afraid in the nineties for buying up American companies and Hawaian and California real estate. The Japanese resold most at a loss within six or so years. The debtor is the tail that shakes a multi trillion dollar dog. It was one thing for Mao's China to want to bring the running dog imperial paper tiger Amsrica to the ground and they aren't holding any American debt. But it's another when you have one country two systems and people have a material life style and you have loans based on the liquid equitity built up in the last twenty years given in US dollars to the US. T-notes are payable in US dollars.

At worst loan sharks never kill you, they only break your arm. Steal your jobs - "right-shoring them", Ms Fiorino said. And then you pay them off and borrow again later.

Sen Boehner: where are the freaking jobs?

[WingDinger]

2. The largest reason why we killed Saddam, is his call to divest dollars.

[Aaria]

3. The finger is slipping from the dike.