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China and Japan Agree to Sidestep US Dollar

The attached article from Bloomberg says China and Japan are the second and third largest economies in the world. Maybe we should invade these two nations next.

China, Japan to Back Direct Trade of Currencies

Japan and China will promote direct trading of the yen and yuan without using dollars and will encourage the development of a market for companies involved in the exchanges, the Japanese government said.

Japan will also apply to buy Chinese bonds next year, allowing the investment of renminbi that leaves China during the transactions, the Japanese government said in a statement after a meeting between Prime Minister Yoshihiko Noda and Chinese Premier Wen Jiabao in Beijing yesterday. Encouraging direct yen- yuan settlement should reduce currency risks and trading costs, the Japanese and Chinese governments said.

China is Japan’s biggest trading partner with 26.5 trillion yen ($340 billion) in two-way transactions last year, from 9.2 trillion yen a decade earlier. The pacts between the world’s second- and third-largest economies mirror attempts by fund managers to diversify as the two-year-old European debt crisis keeps global financial markets volatile.

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http://www.bloomberg.com/news/2011-12-25/china-japan-to-prom...



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I read few report that

I read few report that foreign country's are using less greenback. That a bad sign for the U.S. dollar. In less then six months from now we are going to really see crisis in this country and other country's.

NPR covered it

A lot of people here on DP like to rag on NPR but they're about the only national news outlet that has been covering this story. Did a nice feature on it yesterday I think.

NPR is also about the only major media outlet in this country that focuses on international news and goes far enough in depth to actually explain a story and how it affects American society and economic interests.

I am not advocating on behalf of state-run media but it is clear that removing a majority of the corporate interests definitely makes a big difference in how and what news is reported.

I'd be curious --- how many DPers are members of NPR or listen to it on a regular basis?

I would but the soothing

I would but the soothing liberal lady grown up voice always puts me to sleep.

reedr3v's picture

I used to listen almost exclusively to

NPR, decades back before I realized the full extent of their bias toward the authoritarian state. I still cannot stomach their status quo propaganda, but I've noticed a subtle attempt to stay current with intellectual shifting ground.

When their bias was called to public attention they had to allow a little "fresh air" (nothing to do with statist and elitist propagandist Terri Gross.)

Same

I refuse to listen to their crap now. To bad to I used to like listening to them.

No surprise here. Everyone

No surprise here. Everyone is trying to wean themselves off of our ticking time-bomb currency. We need to get our economic house in order fast.

Economic house

First, its not our house. The Federal Reserve Bank is ALIEN not of this land not real. We must burn down this plauge ridden house and build a new one. Would be nice to do as RP wants build a new house along side and show everyone how screwed up the Federal Reserve House is through competition. Unfortunatly evil liars theives and murders do not fight fair and will not allow competition. Hey if you had the money tree would you allow the seeds to be grown and your neighbors to start growing their own money tree? They house needs to be dismantled and rebuild for sure.

sovereign

You are preaching to the

You are preaching to the choir, and I think you knew exactly what I meant.

Naw not the CHoir

preaching to the audiance. No insult intended.

sovereign

Japan

Time to pull all the troops backs from there. Why all the support for such supposed allies?

Let China have their way with them and that will be the end of it. The Japanese are dying out anyway, they are not worth the headaches anymore imo.

Japan Debt to GDP is what....250 per cent? lol

China can bail them out :D

sayonara,

donvino

Last election Japan elected a

Last election Japan elected a different prty than the one that has run the country since the end of WW2. They ran on the promise to get rid of the US military bases. The new PM asked Obama to please remove the military bases and Obama told him "No." Simple as that. Wshingto nis the imperial overlord and Japan is hte colony and Obama let thm know their place. I thought at the time this would come back to haunt Washington and now it is.

Thanks

For the additional info.

Looks like their people have some serious choices to make.

donvino

One problem with pulling all

One problem with pulling all of our troops back (and don't get me wrong, I want a non-interventionist foreign policy) is that we would then have a standing army with a collapsing currency. The result (with the wrong President presiding over us) would be a disastrously empowered totalitarian government. Everything is set in place for this to happen (NDAA/Patriot Act/TSA/DHS). What we need before the currency collapse is to reduce our military to a fraction of what it is and bring them home to guard our borders.

Interesting points

Though I still think the sooner the better.

thank you,

donvino

reedr3v's picture

Immediately all National Guard units

could be returned to individual state rather than federal duties. That would start to thin the ranks AND begin to re-balance the power quotient between federal and states.

The american false debt slave

can pay for Defence of Japan. Good deal for Japan, of cource they do give up thier freedom for military welfare. A hand out is never a good thing NEVER.

sovereign

Remember, over a year since

Remember, over a year since Russia and China are trading in their own currecies.

Here comes the implosion of

Here comes the implosion of the Dollar...Peter Schiff right again

Agreed

Apparently China - Russia, Japan - China, Japan - India, and Thailand - China have all decide to delink the dollar. Further China Yuan is being used to price commodities instead of dollars.

And Obama is asking to raise the debt ceiling this week another 1.2 Trillion to 16.3 Trillion.

http://www.reuters.com/article/2011/12/27/us-usa-treasury-de...

Yes the dollar is on a cliff...and Schiff will be right once again.

"This isn't what the govern meant"

"Win the crowd and you will win your freedom"

First...

First the Euro, and then the Dollar.

But Schiff said that the euro

But Schiff said that the euro could survive if the ECB doesn't print...

One point about Euro

Schiff noted that Germany has 1.5 trillion in annual net exports and Europe had another net 1 trillion in exports that would help them. Our trade deficit adds to the dollars woes...

"This isn't what the govern meant"

"Win the crowd and you will win your freedom"

Why isn't this being reported

Why isn't this being reported on the big news sites? I looked and didn't see anything. I would think this would be big news.

It's a big story in the

It's a big story in the international news... I don't know why China and Japan didn't do this earlier

MSM owned by TPTB

Do you think the MSM wants the American people to wake up to the fact that all of those dollars in their wallets are blood money, propped-up by nothing more than threats of killing and actual killing of people in resource-rich third-world countries? Did you hear the MSM talk about how Saddam Hussein wanted to charge Euros (not US dollars) for oil, and THAT is why he had to be killed? Did you hear the MSM talk about how Gaddafi was bringing back the gold Dinar and was going to charge gold (not US dollars) for oil (and was encouraging the African Union to all do the same for all resources so they could improve their way of life), and THAT is why he had to be killed? Did you hear the MSM talk about how Iran has set up an oil Bourse that trades in non-US currencies and THAT is why THEY must now be killed? Hell no. Many of the American people would be horrified by such cold-blooded reality. They would not stand for the situation to continue. And TPTB intend for the situation to continue for as long as possible (even though it looks like its unraveling is still coming pretty fast). And there you have the answer for the constant demonization and beating of war drums all lead by nonsensical reasons as to why we must go kill them. They can't share their "sensible" reason, or the country would revolt.

Please post this comment on every forum you visit

and, if you would, please authorize us to copy and paste it.

done

The comment is hereby placed in the public domain.

Exactly

DC's American Empire runs on Big Banking (Fiat Currency), Big Military and Big Energy.

Any major stories that fall outside of the framework of this state of affairs being

- Inevitable

- Normal, and

- Successful

... are censored from the Corporate Media.

Which is owned by? (wait for it...)

Big Banking, Big Military, and Big Energy

Heavy sponsorship (billions) from Big Pharma, Big Agriculture

And special consultation services from the CIA, and an alphabet soup of other 3 letter unelected K-Street Think Tanks and Foundations.

So ... of *course* these stories are not heard lol.

They want to control costs without US Dollar influence

As Ron Paul warned everyone, one day the dollar will snap like a rubber band, and we all better hope the air bags deploy.

This should reflect in higher inflation numbers in the coming months. Stocks will rise, if the dollar falls, and the less saavy US citizens will think things are good until they see rising costs on goods.

Edit: yes Chinese Yuan hits all time high today. Also Japan signed similar agreement with India as well. Bye bye dollar.

http://mobile.reuters.com/article/idUSTRE7BP03220111226?irpc...

"This isn't what the govern meant"

"Win the crowd and you will win your freedom"

Air bags?

What air bags?