Do you think currencies are important

[lgraham]

It just gets started here at this level. Then it snowballs. Please notice in the article how important it is to Russia to become a reserve currency to reduce volitilaty.

Lgraham

http://www.nytimes.com/2010/12/15/business/global/15iht-ruble15.html?_r=1

[marcuscurtis]

It just gets started here at this level. Then it snowballs. Please notice in the article how important it is to Russia to become a reserve currency to reduce volitilaty.

Lgraham

http://www.nytimes.c...ble15.html?_r=1

Lgraham,

This is only a small part of the picture. This is actually a response because of QE 1 and QE 2. He who has the lowest currency in value has the higher exports because business will go there to set up shop. countries will export more of their goods. Through G 20 summits countries have been after china to raise the value of their currency. It is artifically low to give china a big advantage.

The expansion of the dollar through Quantitative easing will lower the value of the dollar, but at the same time it will raise the value of the Renminbi. This is what China is upset about. Don't get me wrong Q.E. 2 was a bad Idea. but one side effect of this practice is to level the playing field. Americans would be surprised if they knew just how much oil we imported from russia. Maybe we should pay the russians in Renminbi too

The reason why dollars are used for oil around the world is because of the petrodollar system that was set up after bretton woods ended in 1971

thanks for posting

Marcus

[Doc31]

Nice find LGraham ... Peace my friend ... and

Thanks for the post!

[Freedom Biz]

Great find, lgraham. Thanks. How do you think the banking cartels and the proponents of the dreaded "one world currency" are looking at this?

[Freedom Biz]

Reading this online led me to find another article about a Swiss Banker being accused of advising Americans to evade taxes. I posted it in the Tax Discussion thread.