West could cut U.S. dollar access for Russian companies, UK's Johnson says

[beijingwalker]

There is this yet to come.

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The trillion-dollar coin scheme, explained by the guy who invented it

Mint the Coin and the debt ceiling, explained

www.vox.com

We are living in an interesting time, China had long been cashless, what digital currency can do to old monetary system is everyone's guess, we'll see.

 

[925boy]

Russia cant trade with Europe in Yuan for obvious reasons

thats what the Euro is there for - European trade.

 

[Tshering22]

LONDON, Feb 20 (Reuters) - The United States and Britain would cut off Russian companies' access to U.S. dollars and British pounds if the Kremlin orders an invasion of Ukraine, British Prime Minister Boris Johnson said on Sunday.

Hasn't Russia de-dollarized 90% of its international trade and financing already? I thought that's why Russia consistently remained among the top 3 buyers of gold to build up reserves all these years. Smart move. The world needs a second and a third option.

So you really believe everyone wants to replace the dollar with the yuan?

The only reason anyone in their right mind would want the yuan is if they didn't have access to the dollar, not because yuan is considered better and safer than the dollar. At the same time, the Americans are not daft enough to go around denying everyone access to the dollar.

Adopting yuan for anything is like a last resort, out of desperation.

Creating multiple baskets of foreign exchanges proportionate to trade relations is the key. Having just one currency is a big risk. For example, Russia's arms trade with us has been in a Ruble-Rupee format; almost all trade with China is based on Ruble-Yuan, and with the EU it is in Euros, that the EU states themselves agreed to provide (they would freeze if they did not).

Given that Russia maintains multiple currency reserves, they may be marginally affected but will continue trading in barter.

 

[nahtanbob]

Before no country was in a position to challenge dollar, but now the situation changed.

China support for Russia will drive EU and USA closer

 

[beijingwalker]

China support for Russia will drive EU and USA closer

They always wear the same pants, how can they be closer?

 

[nahtanbob]

They always wear the same pants, how can they be closer?

They can co-ordinate trade policy on Beijing

 

[Beast]

So you really believe everyone wants to replace the dollar with the yuan?

The only reason anyone in their right mind would want the yuan is if they didn't have access to the dollar, not because yuan is considered better and safer than the dollar. At the same time, the Americans are not daft enough to go around denying everyone access to the dollar.

Adopting yuan for anything is like a last resort, out of desperation.

Lol.. another frog in the well. China is world factory. Next time, China come out with law that only Chinese goods can be purchased with yuan.

Before u talk shxt about made in China. Go ahead and buy a western washing machine or western made smartphone.. your Inflation rate will surely hit 300-400%. You think everybody is a bill gate and can afford expensive made in western products?

 

[Iñigo]

It is only a matter of time

It is only a matter of time, in about 30 years' time young people will see the most colossal and deadly empire ever seen on the face of the earth, the Anglo-imperium 2.0 (1945-2049), dissolve like sugar in water

And Washington will be the capital of a very large and very important Latin American country

 

[Pakistan Space Agency]

Lol.. another frog in the well. China is world factory. Next time, China come out with law that only Chinese goods can be purchased with yuan.

Nobody has stopped China from making that law.

It's like saying, Botswana makes a law that says all Botswana goods must be purchased in Pula.

 

[Trango Towers]

Trade in yuan will increase. Less people using dollars.

The world is learning. Long term west will lose

China support for Russia will drive EU and USA closer

EU and USA was always close. I am loving this bipolar world and this will give Muslims world a break