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China’s yuan ‘not ready’ to join IMF basket of currencies, says US

A Eurasian co-operation is the nightmare for the Anglo-American world, including Canada, that's why we work hard to make the nightmare for the Anglo-American world become real. :)

You think the US wanted Ukraine to join NATO is part of the China containment strategy? If the economic belt is ready trade between China/Russia/Germany will be massive, leaving the US behind.
 
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Chinese exporters have been saying the difference.
They love US dollars, no matter what keyboard warriors here have said
 
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It's good that corporate america is corrupted. I wonder what confidence investors will have in US when another 2008 financial crisis hit the US in the near future?
Let them continue their way, just relax sit back and watch.

US is sum of a corrupt ideology and regime. Their objection at the IMF is not really a bad thing. The more they try to contain China, the less effective they get because their ambitions (political and economic) are not on par with their capabilities anymore.

What they have is a military that is used as a primary tool for policy. But their military, too, is not capable and dare to take on China head to head.

So, yes, let's sit back and enjoy how China brings down the bloody and corrupt empire economically and politically to its knees.

A Eurasian co-operation is the nightmare for the Anglo-American world, including Canada, that's why we work hard to make the nightmare for the Anglo-American world become real. :)

LOL. They must certainly be scared of the idea.

Friday, 13 March 2015
U.S. Sanctions Target Russian Eurasian Ideologist
Written by James Heiser



Although several rounds of economic sanctions have arguably had little effect on Russian involvement in eastern Ukraine, the U.S. Department of the Treasury has announced yet another round of sanctions. Among those Russians targeted in the latest round of sanctions is Aleksandr Dugin — the chief architect of Russia’s Eurasianist ideology — and the Eurasianist Youth Union which has allegedly played a significant role in recruiting Russian fighters in eastern Ukraine. According to a March 11 press release from the Treasury department:

The Eurasian Youth Union has actively recruited individuals with military and combat experience to fight on behalf of the self-proclaimed DPR [Donetsk People’s Republic] and has stated that it has a covert presence in Ukraine. Aleksandr Dugin, Andrey Kovalenko, and Pavel Kanishchev are leaders of the Eurasian Youth Union. This group and its leaders are being designated for being responsible for or complicit in actions or policies that threaten the peace, security, stability, or sovereignty or territorial integrity of Ukraine.

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For Dugin and the Eurasianist ideologues, the involvement (voluntary or otherwise) of Ukraine in the Eurasian Economic Union is of critical importance if the new union is to succeed. Dugin wrote in 2001 in his “Main Principles of Eurasist Policy” that “the integration of CIS countries into a united Eurasian Union is the major strategic imperative of Eurasism.” The CIS — Commonwealth of Independent States — was established in 1991 as a ‘successor entity’ to the USSR. Even in the earliest phases of formulating the Eurasianist doctrine, the reintegration of CIS states into the new Eurasian Union (which would not even be openly proposed until 2013) was understood to be a vital step in the creation of the new union. And Dugin’s hostility to an independent Ukraine has long been recognized by the Ukrainian government: in 2006, Dugin was formally declared to be persona non grata for a period of five years “for violating Ukrainian law” and when Dugin attempted to enter Ukraine in June 2007, the government deported him, “arguing he sought to destabilize the country.”

In 2008, Dugin declared that even “friendly relations” between the United States and Ukraine would amount to “a declaration of war. As a declaration of psychological, geopolitical, economic and open war” against Russia and that if Ukraine took steps to join NATO, he declared, “I think that the Russian reaction would be to support an uprising in eastern parts and Crimea and I could not exclude the entrance of armed force there, as in the Ossetian scenario.” Six years later, even without Ukraine joining NATO, the scenario Dugin set forth was in motion and activists from the Eurasian Youth Union were allegedly involved in helping to bring about the uprising.

Last March, Oleg Bakhtiyarov, a leader of the Eurasian Youth Union, was arrested in Kiev by the Ukrainian security forces because he was allegedly coordinating a plot to seize control of the parliament on the eve of the presidential elections scheduled for May of last year. As Paul Gregory wrote for Forbes.com:

Bakhtiyarov, a “youth leader” in his mid 50s judging from his picture, is accused of procuring Molotov cocktails, scaling ladders, and other equipment for the storming of parliament. The Russian “youth leader” is accused of hiring 200 “activists” at the price of $500 each for the takeover by force of the parliament building. It is doubtful that an unknown youth group would have such funds ($100,000) in their coffers.

The sanctions against Dugin and other leaders of the Eurasian Youth Union are likely to have little effect; as Radio Free Europe/Radio Liberty (RFE/RL) reports, for those who have thus been sanctioned, “Any U.S. property held by those individuals is frozen, and U.S. citizens are prohibited from doing business with them.”

On occasion, Dugin’s followers have endeavored to downplay the public perception of his influence on current Russian policy. However, the recent sanctions clearly establish that the United States government is prepared to hold Dugin responsible for the effects of his Eurasianist ideology; in the words of the RFE/RL report: “The United States took the action to ‘hold accountable those responsible for violations of Ukraine’s sovereignty and territorial integrity.’”
 
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IMF ignorant motha f...

Why do you care for IMF and world bank?? Just start your own bank and bank roll it. If countries are interested they will borrow from you guys. If the middle eastern countries are willing to trade with yuan in exchange for oil then you guys are all set.
 
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Countries are already holding RMB as part of their reserves despite it being only partly convertible.

As China frees up the RMB, more trade, investment and finance will be done in RMB.

With the rise of the RMB, the U.S. ability to sanction countries by denying use of the dollar will diminish overtime.

Financial sanctions are America's trump card against powerful countries. Economic sanctions, technology sanctions are not as effective as it was in the past due to countries like China being there as a big market for agricultural goods, energy, raw materials, manufactured goods and services. China is also an exporter of goods & services and a provider of advanced technology in many areas. China is also becoming a major provider of advanced weaponry.

It is only in financial power that China is not up to par.

China must:
1) Internationalise the RMB in trade, investment, finance which will increase RMB's share in the foreign exchange market.
2) Develop the CIPS payment clearing system for international use of the RMB.
3) Develop a SWIFT alternative for messaging.
4) Internationalise its rating agency (Dagong).
5) Internationalise its capital (bond and stock) and commodity (gold, oil, gas, etc) markets.

Do those 5 things and China will be a big player in the financial world and reduce American monopoly in this area and weaken global American power.

Thankfully those 5 things are being advanced by the CPC.

Without financial power, America is an emperor without clothes. It's military power will shrivel up quicker than the Soviet military once it's financial power is diminished or gone.

American military power comes due to its financial power where it can spend well beyond its means without any cost due to the high market share of the dollar in the foreign exchange market.

If Russia could spend as much as the U.S. on military, then Russia too would have a military as powerful as the U.S. military. It's all about money to invest in weapons R&D and building technologically advanced weapons in great numbers.
 
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RMB is indeed not ready to be part of world reserve currency.

There is a terrible price to be paid for being a world reserve currency.

If you are a reserve currency, meaning, people will be holding on to CNY. That implies, China is a net debtor. People hoarding CNY in other words, have claims of goods and services against China.

And it is not possible to run trade surplus in this condition. To make yourselves a debtor, you must run trade deficit.

The USD reserve currency is what killed USA today, and breed a bunch of parasitic elites, hollowing up their own industries and profit by means of financial engineering.

All countries prosper through mercantilism, and the USD world reserve currency allow USA to tolerate East Asian mecantilism -- that is to say, USA need to endure a rise of China and can do almost nothing.
 
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