China Russia Japan France plan to stop using US dollars on Oil tradings

[VelocuR]

self delete

 

[dccafe]

If this is true... and worked out.

it would be a great impact on US dollars, and its economy...

People are starting to lose trust in US dollars

 

[Cheetah786]

The demise of the dollar



In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading.

In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.

Indepedent Source

Have You guys ever consider thats what the usa wants

 

[dccafe]

This is a very sophisticated issue.
Without high understanding in global economics.
Just couldn't give any solid reasonable possibilities and effects.
Do we have any professionals here that can analyze?
more than one analysis would be great~~~
being non-biased as possible guys~~~ just from technical point of view.

*since the this news first came out last yr, till now I still have no certain idea on how this will actually do.~~~ @.@

 

[chinapakistan]

I just concer about that 1 trillion dollars which china have when dollar fallen.

 

[Always Neutral]

I just concer about that 1 trillion dollars which china have when dollar fallen.

Ur probably wiser than Avatar here.

China will never allow USD to devalue.

The Arab Govt's have never let down the USA ( too much personal black mail)

I actually like the Euro though most don't in my country.

Regards

 

[Sino-PakFriendship]

Ur probably wiser than Avatar here.

China will never allow USD to devalue.

The Arab Govt's have never let down the USA ( too much personal black mail)

I actually like the Euro though most don't in my country.

Regards

China will balancely use Euro, USD and Jap dollars.

No foreign currency are fully trustable!

 

[revu]

china wouldn't want the dolar value to go down, cuz it can make their export to US down,n china don't want that to happen. I guess they will use gold and euro for oil trade, if they use chinese yuan or japan yen, it only make the chosen currency value rise.

 

[Always Neutral]

China will balancely use Euro, USD and Jap dollars.

No foreign currency are fully trustable!

Do you think its as easy as going to Tescos ?

It will take them minimum 15 years. Till than have a chill pill and enjoy the ride.

Regards

 

[Sino-PakFriendship]

Do you think its as easy as going to Tescos ?

It will take them minimum 15 years. Till than have a chill pill and enjoy the ride.

Regards

Noyhing is difficult if you have preservence to do!

China should reduce affect and risk by US dollars, otherwises, China is usually backmailled by USA!

 

[chinapakistan]

Do you think its as easy as going to Tescos ?

It will take them minimum 15 years. Till than have a chill pill and enjoy the ride.

Regards

Yes, you are right, it is not very esay.
But I think it is esaier than "Make world only remember mubai forget shanghai." or "Indian will ................." said by indian joke maker PM.
Thank you.

 

[dbc]

This will surely happen as soon as everyone figures out what the yuan is really worth.

 

[chinapakistan]

This will surely happen as soon as everyone figures out what the yuan is really worth.

I think common chinese will glad to see raising Yuan worth, bcoz it will make chinese suddenly become rich. But it is harmful for the nation just like what US did about japan.

 

[dccafe]

I think common chinese will glad to see raising Yuan worth, bcoz it will make chinese suddenly become rich. But it is harmful for the nation just like what US did about japan.

Its would be a disaster and create huge impact towards export and manufacturing.
That is also the reason why PRC suppress Yuan.
Unless China national wide market transform...away from manufacturing to something else like services and technology etc etc ... or else you will see huge increase in unemployment rate...

There should be more problems, and i am no expert that all i can list out.

 

[dbc]

I think common chinese will glad to see raising Yuan worth, bcoz it will make chinese suddenly become rich. But it is harmful for the nation just like what US did about japan.

The US didn't do diddly to Japan, I could go into details but that would derail this thread.

This is just noise and apart from hurt sentiments there is very little that will change from this development. Oil can be traded in any major currency and there is nothing forcing the Arabs, Chinese or the Russians to hold massive amounts of US dollars in reserve.