The Beginning Of The End
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Who Needs The United States? Not Russia And China

Vladimir PutinRussia and China have just signed what is being called “the gas deal of the century”, and the two countries are discussing moving away from the U.S. dollar and using their own currencies to trade with one another.  This has huge implications for the future of the U.S. economy, but the mainstream media in the United States is being strangely quiet about all of this.  For example, I searched CNN’s website to see if I could find something about this gas deal between Russia and China and I did not find anything.  But I did find links to “top stories” entitled “Celebs who went faux red” and “Adorable kid tugs on Obama’s ear“.  Is it any wonder why the mainstream media is dying?  If a particular story does not fit their agenda, they will simply ignore it.  But the truth is that this new agreement between Russia and China is huge.  It could end up fundamentally changing the global financial system, and not in a way that would be beneficial for the United States.

Russia and China had been negotiating this natural gas deal for ten years, and now it is finally done.  Russia is the largest exporter of natural gas on the entire planet, and China is poised to become the world’s largest economy in just a few years.  This new $400 billion agreement means that these two superpowers could potentially enjoy a mutually beneficial relationship for the next 30 years

Russia reached a $400 billion deal to supply natural gas to China through a new pipeline over 30 years, a milestone in relations between the world’s largest energy producer and the biggest consumer.

President Vladimir Putin is turning to China to bolster Russia’s economy as relations sour with the U.S. and European Union because of the crisis in Ukraine. Today’s accord, signed after more than a decade of talks, will allow state-run gas producer OAO Gazprom (GAZP) to invest $55 billion developing giant gas fields in eastern Siberia and building the pipeline, Putin said.

It’s an “epochal event,” Putin said in Shanghai after the contract was signed. Both countries are satisfied with the price, he said.

Of course countries sell oil and natural gas to each other all the time.  But what makes this deal such a potential problem for the U.S. is the fact that Russia and China are working on cutting the U.S. dollar out of the entire equation.  Just check out the following excerpt from a recent article in a Russian news source

Russia and China are planning to increase the volume of direct payments in mutual trade in their national currencies, according to a joint statement on a new stage of comprehensive partnership and strategic cooperation signed during high-level talks in Shanghai on Tuesday.

“The sides intend to take new steps to increase the level and expansion of spheres of Russian-Chinese practical cooperation, in particular to establish close cooperation in the financial sphere, including an increase in direct payments in the Russian and Chinese national currencies in trade, investments and loan services,” the statement said.

In my recent article entitled “De-Dollarization: Russia Is On The Verge Of Dealing A Massive Blow To The Petrodollar“, I warned about what could happen if the petrodollar monopoly ends.  In the United States, our current standard of living is extremely dependent on the rest of the world continuing to use our currency to trade with one another.  If Russia starts selling natural gas to China without the U.S. dollar being involved, that would be a monumental blow to the petrodollar.  And if other nations started following the lead of Russia and China, that could result in an avalanche from which the petrodollar may never recover.

And it isn’t just the national governments of Russia and China that are discussing moving away from the U.S. dollar.  For example, the second largest bank in Russia just signed a deal with the Bank of China “to pay each other in domestic currencies”

VTB, Russia’s second biggest lender, has signed a deal with Bank of China, which includes an agreement to pay each other in domestic currencies.

“Under the agreement, the banks plan to develop their partnership in a number of areas, including cooperation on ruble and renminbi settlements, investment banking, inter-bank lending, trade finance and capital-markets transactions,” says the official VTB statement.

The deal underlines VTB Group’s growing interest in Asian markets and will help grow trade between Russia and China that are already close trading partners, said VTB Bank Management Board Vasily Titov.

You can almost feel the power of the U.S. dollar fading.

A few months ago, when I wrote about how China had announced that it no longer planned to stockpile more U.S. dollars, I speculated that it may be evidence that China planned to start making a big move away from the U.S. dollar.

Well, now China’s intentions have become even more clear.

The Chinese do not plan to allow the United States to indefinitely dominate the globe financially.  In the long run, the Chinese plan to be the ones calling the shots, and that means that the power of the U.S. dollar must decline.

These days, instead of piling up mountains of U.S. currency, China has started accumulating hard assets instead.  In the past, I have written about how China is rapidly stockpiling gold, and it turns out that the Chinese have also been very busy stockpiling oil as well

China is stockpiling oil for its strategic petroleum reserve at a record pace, intervening on a scale large enough to send a powerful pulse through the world crude market.

The move comes as tensions mount in the South China Sea and the West prepares possible oil sanctions against Russia over the crisis in eastern Ukraine. Analysts believe China is quietly building up buffers against a possible spike in oil prices or disruptions in supply.

The International Energy Agency (IEA) said in its latest monthly report that China imported 6.81m barrels per day (bpd) in April, an all-time high.

Once upon a time, China was extremely dependent on the United States economically.  The same was true with most of the rest of the world.

But now economic power has shifted so dramatically that nations such as Russia and China are realizing that they don’t really need to be dependent on the United States any longer.

And with each passing year, the relationship between Russia and China is becoming stronger.  As Pepe Escobar recently observed, this emerging alliance is causing quite a bit of consternation in Washington…

And no wonder Washington is anxious. That alliance is already a done deal in a variety of ways: through the BRICS group of emerging powers (Brazil, Russia, India, China, and South Africa); at the Shanghai Cooperation Organization, the Asian counterweight to NATO; inside the G20; and via the 120-member-nation Non-Aligned Movement (NAM). Trade and commerce are just part of the future bargain. Synergies in the development of new military technologies beckon as well. After Russia’s Star Wars-style, ultra-sophisticated S-500 air defense anti-missile system comes online in 2018, Beijing is sure to want a version of it. Meanwhile, Russia is about to sell dozens of state-of-the-art Sukhoi Su-35 jet fighters to the Chinese as Beijing and Moscow move to seal an aviation-industrial partnership.

Meanwhile, the relationship that the U.S. has with both nations is quickly going sour.  The crisis in Ukraine has caused relations with Russia to drop to the lowest point since the end of the Cold War, and now China is deeply offended by charges that Chinese military officers have been involved in cyberspying on the United States

China on Tuesday warned the United States was jeopardizing military ties by charging five Chinese officers with cyberspying and tried to turn the tables on Washington by calling it “the biggest attacker of China’s cyberspace.”

China announced it was suspending cooperation with the United States in a joint cybersecurity task force over Monday’s charges that officers stole trade secrets from major American companies. The Foreign Ministry demanded Washington withdraw the indictment.

The testy exchange marked an escalation in tensions over U.S. complaints that China’s military uses its cyber warfare skills to steal foreign trade secrets to help the country’s vast state-owned industrial sector.

The divide between the East and the West is growing.

But the Obama administration has not figured out that we need the East more than they need us.

Right now, the number one U.S. export is U.S. dollars.  Our massively inflated standard of living is very heavily dependent on the rest of the world using our currency to trade with one another and lending it to us at super low interest rates.

If the rest of the world quits playing our game, our debt-based financial system will quickly fall apart.

Unfortunately, nobody in the Obama administration seems to have much understanding of global economics, and they will probably continue to antagonize Russia and China.

In the end, the consequences for antagonizing them could end up being far greater than any of us ever imagined.

  • Syrin

    Furthermore, Russia is dumping US treasuries like 1st period French while simultaneously buying hundreds of thousands of ounces of gold. So the two nations looking to destroy the petrodollar and the US dollar as the world’s reserve currency are dumping US debt and stockpiling gold by the literal ton. I think there’s something to learn from their actions.

    • none

      The French are also known for their backing of winners in WW2.

      • nekksys

        If the French had fought a little harder, the US wouldn’t have had to liberate so many French towns… IIRC, Normandy, the beach head where the D-Day landing occurred, is on French soil…

        Just saying…

        • tacoma

          Perhaps say with a bit more knowledge.
          France sent 2/3 of its entire military to fight Hitler in the 1940 invasion and suffered 1 million casualties. It lost 80% of its armament. Yes France lost, but don’t say it should fight ‘harder’. France knew Hitler is going to invade to revenge the loss in WW1 for years and have spent great national treasure to prepare for it. But it lost everything. It was the equivalent of the American south lost in the Civil War. French blood spilled was horrific.

          • 3%

            Nope and the French gov knew it.

            Hitler and his gov had no intention of fighting a war out of revenge or even Alsace-Lorraine, French warplan counted on military superiority over Germany while German warplan in 1939 was a slight upgrade of the 1914 one, with very little troops along the Franco-German border.

        • 3%

          If the French had fought as hard in WW2 as in WW1, what would have been the results?

          Anglo-Frenh suffering millions of casualties pushing back Germans all the way to Berlin?
          A few years later, anglo-french Alliance vs Soviet-Union while the US have only circa 300 000 Soldiers.

          The French fighting on would have brought them nothing, declaring war over Poland was just ****ing retarded, they should have simply extended the Maginot line to the Belgian border and had natalistic politics to raise the birthrate to German level.

    • Hector Likens

      May 21st 2014, will be remembered by historians as the day that marked the official beginning of the end of the US Dollar as the world’s reserve currency. Ordinary Americans won’t feel the effects of this global financial shift until they start seeing prices rising in th US due to hyperinflation and massive unemployment. People living on fixed incomes such as the retired and the disabled are the ones who will suffer most. Americans who are chronically dependent on government assistance (i.e. welfare, general assistance, food stamps, subsidized housing) have now their days of free-loading counted. Finally, the US Government has already carefully studied all these upcoming scenarios and Martial Law will be implemented in America as soon as the first attempts of social unrest are observed…and people in this country DO NOT have a single clue of what Martial Law is all about (guns and ammo won’t do any good for those who may try to challenge the Sovereign).

      • Captain Beyond

        Sorry Charlie the disabled are not freeloaders and the elderly deserve their social security. You morons will all die in your holes protecting your freeze dried buffalo chili.

        • nekksys

          I think you missed the boat a bit… Let me break down what Hector said:

          1) “People living on fixed incomes such as the retired and the disabled are the ones who will suffer most.” – Seperate statement. This is true as well. Those who are on fixed incomes, to which they are entitled, will suffer most.

          2) “Americans who are chronically dependent on government assistance have now their days of free-loading counted.” – Again, seperate statement. Still true. Those who are living on “welfare, general assistance, food stamps, subsidized housing” are about to see that end. Some elderly and disabled do make use of those programs as well but do so out of necessity. Those who are capable of working but refuse, so they can live on someone else’s dollar, are running out of time.

          Next time pay attention to phrasing, paragraphs, punctuation, etc., before you start yammering…

          • cateye

            Well played sir, well played.

          • GSOB

            Retired folks sometimes have poor eye sight.

            Try breaking out into small paragraphs.

            Din da Captain can get behind ya

        • Rando

          What will be your fate, Captain?

          • Captain Beyond

            Who knows? I wish the best for everyone even though everywhere you go you are treated like cr@p by everyone else. Tailgating, hateful looks etc.

          • Uncle Rukus

            Hope ya learn to read properly.

        • http://causalitysend.mee.nu/ Kristophr

          The elderly were the ones that elected politicians that spent all their retirement money. And they have taken the disabled down with them.

          I’m not elderly, but I expect there to be no SS funding for my retirement, despite being taxed for it.

          • peace angel

            I agree. IT is the fault to the ostrich nation who continues to elect some of the most corrupt politicians on earth. I am one of them BUT have been fighting this for forty years and speaking to brain dead fools.

            10,000 baby boomers are retiring daily in the US and 75% of them are flat broke.

            Consumption is a serious disease in the US and has been taught to the baby boomers kids.

          • 3%

            Niet, that 10 000 baby boomers are reaching retirmenet age does not mean 10 000 retiring.

            A lot of them keeps on working, working a lot harder than 40 years ago!

            Retirements not keeping up with inflation, that why these flog buckets keeps workin`.

          • peace angel

            No ten thousand are retiring daily. And where did you learn English???
            In Russia???

        • MichaelfromTheEconomicCollapse

          I don’t think that it is a matter of what the elderly “deserve” or not.

          It is a matter of whether or not we are going to be able to pay for the promises that have been made.

          Michael

          • alan

            I wonder… can you buy freeze dried dog food? You could combined cheap food with long term storage.

          • Brother Tim

            What makes me sad is to see this continual attack from the poor to the poor. Welfare programs is a part of life. I live in a country where there is none of the programs in the western countries and I must say its a sad sight to see. There is welfare but its different the family members that have a little money have to support those who don’t have nothing. I strongly believe all countries should have some kind of programs to help people. And also its not the peoples fault the government have sent their jobs to other countries so they can continue to take the debt. Alsol as we continue to point fingers at the poor people who are on these programs it amazes me how those same people don’t point their finger and rich who are stealing so much money from us from freeloading off of the central bank printing all the free cash. America paid almost 300 billion dollars in interest on the debt it owe to the central banks. Who do nothing but screw up our life and print more money. When are we the people going to realize to stop pointing the finger at each other and start pointing it at those who causes the problems. I could care less if some people get away with a 1,000 dollar check what I care about is those who getting away with billions for doing nothing.

          • Cassandra

            So sad, but true. The rich conservative 1% funnel all the money to the top. Robbing everyone blind. Hundreds of billions of dollars. This is the problem!!!!!! Wake up everyone. It is NOT fun to live on welfare.

          • jaxon64

            Except that the uber-rich billionaires are not the conservatives–you’ve been brainwashed. Soros, Buffet, Gore, Rockefellers, Rothschilds, Bates–these people are the Progressives…they believe in eugenics and the elimination of the values and ideals of conservatives. Destroying national sovereignty and patriotism, destroy the family, destroying faith ( Christianity in particular) govt institutions controlling the minds of children, sexual promiscuity and drugs promoted and always always–CONTROL over the lives, health, beliefs and even words and thoughts of the masses…your very parroting of the wrongful misinformation of Hollywood and the MSM is exactly why we are all living among the apathetic on the fast track to full dependency.

          • Mike Smithy

            You sir, have mastered the art of critical thinking. Congratulations are in order.

          • peace angel

            THERE are truly more rich democrats than republicans and every single year Forbes and Newsmax report this FACT, but IF you think that the Republican dinosaurs are not on the bus to destroy the economy and to herd US citizens into fema concentration camps along with the Dems you ONLY know half the truth.

            Bush Sr. brought Agenda 21 to our nation and agreed to kill off 90% of the worlds population and to create the NWO in 1992. The republicans authored NAFTA that killed off all our jobs and closed our manufacturing plants. Jeb Bush owns Common Core.

            THE BUSH family initiated 9/11 and Katrina. THE old school politicians on BOTH sides of the aisle built the 800 FEMA concentration camps they are already filling up. THEY ALL plan to put all Americans into them.

            THERE is NO difference in our corrupt politicians until or unless they are speaking to the Ostrich Nation.

          • stacyk

            Yes, Jeb Bush spear-headed and owns Common Core from Florida to Texas.

          • 3%

            They believe in eugenics? No. They are the ones encouraging the scum to breed and have the producers pay for that. They are anti-eugenic.

            They themselves are looters and moochers.

      • tacoma

        My date for the official beginning of the end is the date ex-Fed chief Alan Greenspan left office. He left behind a dollar bubble so great his successor only choice was to make it bigger. All Ben did was to manage the ending process. Today, the beginning of the end has ended. We are in the the end itself.

    • Instructor

      When you know something is going to go bust, you better take your investments out of it, otherwise you are going to have a baaaad time.

    • nekksys

      “Russia is dumping US treasuries like 1st period French”

      I LOVE that analogy!!!

      • Rando

        I was thinking the same thing… love the analogy(!)… but hate (respect?/admire?) the fact that Putin is doing everything right for Putin.
        I really wish Valerie would start showing similar leadership qualities on OUR behalf.

        • nekksys

          Personally, I want an economic collapse. A “reset,” if you will, of our global economies. The difficulty now, as I see it, is that China and Russia are merging to hedge against that very thing. Both sides know only real, hard assets will help them survive the economic tsunami that’s coming for the US.

          • MichaelfromTheEconomicCollapse

            I don’t think that anyone should actually “want” what is coming.

            It is going to be truly terrible.

            Michael

          • alan

            If they controlled it and did it quick then the pain would be minimal. But with all the bankers and MIC and 3 letter agencies, etc. it will be a slow grind. Now if something unexpected happens and people go crazy then back to the dark ages for us. I think that would be what Russia and Red China would love to see,

          • 3%

            If you had an already foot-long leech inside your abdomen that just keeps getting bigger while you keep getting more and more anemic from lack of blood and thus less and less capable of doing things, what is the best option?

            Delay the operation as much as possible or have it removed as soon as possible?
            I would opt for the latter option, pain would come anywhay but if health comes back, better it come back earlier rather than later.

            10 000 a day are reaching retirement age in the US alone, right?
            That means every day the crash doesn´t happen means more victims…

          • PotHead69

            Clown^

      • MichaelfromTheEconomicCollapse

        I never liked studying foreign languages much myself.

        Michael

    • wetwork

      ur rite…

  • none

    Well at least Obama has gotten around to, “fundamentally changing the Russians and Chinese”?

  • Captain Canuck

    The jig is up and not everyone knows it. Yet. Zerohedge deemed it the “global debt crisis.” Very apt.

    Governments’ debt, currency devaluations, coupled with TBTF banks’ exposure to global derivatives, and an ever shrinking fraction in the fractional reserve system spells one thing.

    Complete global meltdown. There will be nowhere to hide.

    Governments and TBTF banks are positioning themselves accordingly to be the one’s left standing when the dust settles.

    Why else would Goldman Sachs be publicly decrying HFT when they’ve made a fortune off of it?

    They want to ensure their dominant position when the big one hits. I would be interested to see Goldman’s holdings of tangible gold.

  • K

    All part of the plan,to destroy the U.S. economy.This summer,for the first time. I will take a computer with me. I feel we have reached a point, where being out of touch for two weeks, just would not be a good idea.

  • swearve3w

    Sadly it looks like conflict will be inevitable between US and China at some point in the future. The petrodollar empire is crumbling and those who have benefited from it these past decades will try whatever they can to prolong it.

    • MichaelfromTheEconomicCollapse

      Or could the conflict be between the U.S. one one side and China plus Russia on the other?

      Michael

  • cateye

    Time is short, the final moves are being made even now. Get ready the best you can, it is going to be brutal.

    • PotHead69

      Git yer ammo n guns n silvah.

  • Bill

    This will soon be forgotten as Syria explodes and the oil channel closes, gas prices sky rocket, inflation soars, the dollar tanks along with what’s left of the economy of the good ole USA.

  • made in taiwan

    unless Walmart,target,dollar general,home depot etc gonna massively expand in Russia, Beijing stuck with the dollar.without americans borrowing trillions every year to buy up all their crap,their entire country would literally collapse overnite and they know it

    • MichaelfromTheEconomicCollapse

      Actually the EU accounts for more trade with China than we do if I am not mistaken.

      Michael

    • Jimbo

      You over estimate the value of US buyers of Chinese product. The European Union imports more Chinese goods than the USA. Not only that, Europe exports more to China than the USA does. If the Dollar was dropped as international reserve, China would still sell stuff to the USA, it would just cost Americans a lot more. The Chinese could find themselves making less stuff but being paid more for it.

  • sonofseawolf

    Hi Michael and EC bloggers,
    this is great news in so many ways, thank you for writing this story for us. China’s building way too many coal-fired power plants Id love to see them use nat gas instead. post Amerikans will just have to learn with them to live within their means. and migration to this land mass should stop. Fun!

    protect yourself at all times 14/5

  • Jit Tucker

    5-10 years the collapse will be complete.

  • HecatesMoon

    I found it on Business Insider this morning– just a quick article– and that was it. I’ve been wondering all day why no one is talking about it!

    • K

      Because the news only presents what the Government wants you to know. The net is the only true source of news anymore.

    • peace angel

      CNN’s Jeff Zucker today reported that “CNN will not be bullied into reporting on the hearings on Benghazi.” He went on to say that this is a Republican witch hunt and they will not cover it.

      CNN has been dubbed on other sites as the lost plane network, LPN. THEY will not cover Benghazi, the IRS scandal, the Syrian scandal, Fast and Furious, the VA scandal, or any other Obama scandal and will continue to ONLY cover the lost plane as they have done non-stop for two months and Kim and Kanye’s wedding. STAY TUNED for more breaking news on the Lost Plane as our ratings continue to plummet.

      AND in other news, MSNBC is ONLY covering Chris Christie and the road closing scandal from here to 2016 while Rev Sharpton ONLY covers race baiting.

      • JulietteofOhio

        Beautifully written. I haven’t watched CNN for nearly twenty years, since it was known as Clinton News Network. Also gave up our daily newspaper which was a shock since we’ve had a newspaper all of our adult lives. The paper recently switched owners, going from Freedom Network News to some AP based affair. It refused to cover the Bundy affair in Nevada, but had a puff piece on Elizabeth Warren’s new book. The problem is the number of people who actually read or watch news, which has to be fewer in number than those who do neither are actually influenced by the media. As for the Kardashians, how on earth has one trashy family been able to slither into all news? Their ability to get publicity everywhere is their only interesting attribute.

        • Human

          Side note…5 international corporations own 90% of all US media… Now what does that tell you?

          • PotHead69

            Hmmm, now you are bitching about deregulation? You can thank saint Ronnie for that one big boy.

          • Human

            Ronnie was a globalist also, as well as daddy Bush, both Clintons, baby Bush, Zero, and just about everyone on national radio.

        • peace angel

          I have worked in politics off and on since high school and I do political research for sites like INFOWARS, Blaze, etc.

          I have to be accurate or I don’t get paid and to do so I am forced to see BRIEFLY daily what all the other sites are reporting. THEY all are on the same 5 stories that come out of the White House daily.

          THE BIGGEST LOSERS are on MSNBC. Chris Matthews, Sharpton, Stephanie whatever her name is, Madcow and Co. are truly sickening.

          THEY all get the talking point memos from the teleprompter in chief and vomit that stuff out to the Ostrich Nation daily and the difference in what they are talking about and what Fox is talking about regarding the SAME story are night and day.

          THE difference between what FOX and the Blaze, INFOWARS, hundreds of sites being written by our war vets and the sites being written by our government whistle blowers are night and day again.

          What Micheal writes here is NOT being compiled and reported any place that I have found and HERE I know I am getting the TRUTH and REAL economic FACTS which are the most covered up facts on any news topic.
          Murdoch is a BIlderberg member of the highest order and the FACT that they are willing to let out SOME of the truth after years of denying they even exist is something that proves to me that they KNOW those of us who still CARE only get our news online and so to beef up ratings they use a format in which BOTH sides go at it together. THAT cannot be seen on ANY other network so the fact that they are the most watched is an improvement, but we are out of time and most Americans REFUSE to be involved or informed.

    • MichaelfromTheEconomicCollapse

      Yes, this is very big news.

      Michael

  • DJohn1

    The treaty everyone should be talking about is one between China and Russia that allows Chinese Troops to go across Russian lands to invade Alaska through the Bering Straits. This treaty would eventually have Alaska in the hands of the Russians.
    Hopefully the rumor of this treaty is false.
    The Russians have high ambitions. They have come back from a bankrupt country thanks in part to companies from many nations participating in their recovery.
    The man in charge of this recovery is your new Hitler. I would watch him very closely in the near future. He has real estate on his mind and he wishes to recover what was lost.
    If 60 minutes is correct, he has also had a hand in stealing a lot of money from an American Company. Using his authority in Russia to do so.
    The national character is a chess mentality. Chess tricks are what I would expect from this man. It is the national game. One such trick is to hide one kind of piece behind another and when you move that piece it exposes the other to lethal effect. He has taken this play from the chess board to politics. He has his finger in the Ukraine. He has his finger in attempting to destroy a lot of financial pies of other nations not just the United States.
    The Chinese have a problem. That problem can be resolved by a large standing army. When 60% or more of your country is young men and 30-40% are women, then there is not enough women to go around.
    The other problem is feeding those people. Right now we are feeding them. When that comes crashing down, who feeds China? Large standing armies have to be on the move or they start thinking. If they start thinking then the leaders of China are in trouble. The answer has always been to send them off to wars that no one can win. You kill off the rebels with these wars. The survivors are in no shape to give you trouble.
    The Russians and the Chinese need a war to resolve their problems. That is the real problem.

    • Ricky Brisbane

      Idiotic.

    • tacoma

      Reading this, the neocon dogma is still alive. You know, China and Russia has not launched or fought a war since WW2. It is the US of A who has launched and fought the most wars of all countries since WW2.

      • DJohn1

        And Afganistan was occupied in the late 80s to early 90s by whom?
        And the human waves of poorly equipped Chinese troops in North Korea in 1953?

        I am sure there are more.
        The point is we have paid the freight for the entire free world for way too long. I agree that we should mind our own business instead of how we are doing ti.

  • bobcat

    There’s going to be a sea change when the dollar loses reserve currency status.

    • MichaelfromTheEconomicCollapse

      Indeed.

      Michael

  • Mondobeyondo

    The days of the U.S. dollar being the world’s reserve currency are numbered. That much is certain.
    —————————————
    “The enemy of the enemy of my enemy, is my friend’s enemy. Hey, sounds good enough to me!” – President Obama*

    * – he did NOT really say that.

  • El Pollo de Oro

    Alex Jones describes currency debasement as a one-way ticket to Third World filth and squalor. And I give you People’s Exhbit A: The Banana Republic of America.

    When the BRA dollar ceases to be the reserve currency and is formally devalued during a bank holiday, millions of Americans are going to become a lot poorer. The dollar will have the value of the Guatemalan quetzal and will be a Third World currency. And that’s the more optimistic scenario (dollar survives but is officially devalued). The not-so-optimistic scenario is that the BRA dollar suffers total collapse and ceases to exist. As terrible as Scenario #1 would be, Scenario #2 would be much more hellish.

    “The U.S. currency will probably be devalued the most.”—Max Keiser

    “Keeping interest rates this low is only benefiting Wall Street and the equity markets. This is a very destructive policy that’s only dumping more cheap dough into the system.”—Gerald Celente

    “The only way we can function now is because the dollar is the world’s reserve currency. We can pay our bills by printing money. No other country can do that. But when the dollar goes, we can’t pay our bills—and it’s all over. The country’s bankrupt.”—Dr. Paul Craig Roberts

    Keep prepping and praying, patriots. These are dark and hellish times we’re living in.

    • K2

      So britain ,france, germany are third world? Their currencies are not reserve currencies too.

      Not saying this will not be bad for the US, but US becoming a third world country is far fetched.

      Dont get carried away.

      • deciodantas

        As there s no 2nd world that were the former iron curtains countries and 3rd world countries no longer acronysm is used, could be said that that according to you comment instead of 3rd world should be read… Rich Poor or Poor Rich….feel free…

        • K2

          Even poverty in a developed country is not fully the same as poverty in a developing country. Thats why i said what i said.

      • nekksys

        It seems you have a rather tenuous grasp on reality…

        • K2

          Tell that to yourself.

          Dont let all those likes to your comments fool you into believing that you have grasp on reality.

      • El Pollo de Oro

        K2: It’s a question of how debased the BRA dollar becomes. Some preppers think I’m way too optimistic in my predictions.

        • K2

          And you think it will become so debased that the US will suddenly become third world?

      • alan

        Need to travel to the southern states!
        Its here and its bad.

        • PotHead69

          That’s because you vote tea party cronies in. Nice work, you rednecks have slit your own throats.

        • K2

          Refer to my comment above made in reply to cassandra.

      • Cassandra

        The USA will be third world. No doubt about it. We are about to fall off a demographic cliff. Technology has increased the world population but reduced employment. We do not have the resources to continue seeing exponential growth. In the near future we will spend all of our time trying to acquire food and defend ourselves. We no longer dominate. We are unproductive, dependent, naive and entitled. The US has no teeth on the world stage. It doesn’t matter who the POTUS is. We no longer control production, therefore we no longer control the money. The only true growth in the economy is in areas and in countries that ensure our fall from grace. Our current situation is a result of decades of poor decision making. All of the things that we now struggle with have been forecasted for years. This is so much bigger than Obama. He is clearly not in charge, and never was.

        • K2

          You have no idea what ‘third world’ means. And it takes a lot more than loosing reserve currency status, to become one.

    • MichaelfromTheEconomicCollapse

      Not quite hellish yet – but give it a couple of years.

      Michael

      • MichaelfromTheEconomicCollapse

        By the way, always good to hear from you El Pollo.

        • El Pollo de Oro

          Michael: Gracias, caballero.

      • El Pollo de Oro

        Michael: one of the posters recently put it really well when he said that Americans’ pain level is presently at 3, but when this crisis escalates, it will be at ten. This is merely Phase 1 in The Greatest Depression. Phase 2 is when the real “fun” begins.

        • alan

          The south is already near crisis mode. Its either going to kick off in a big city or in the south.

  • Mondobeyondo

    The only reason the U.S. has been doing as well as is has financially, is because of the dollar’s reserve currency status.

    The moment we lose that status… well, you can count the number of people from Houston, Dallas, Phoenix, L.A., etc – crossing the OTHER way across the border into Mexico.

    • quercus454

      Mexico won’t let that happen. They will have their army shooting people as they come across.

      • El Pollo de Oro

        That’s if they even make it that far. In a martial law/widespread civil unrest scenario, the BRA gestapo might slaughter them for heading south and trying to escape. They would be slaughtered on this side of the border before the Mexican authorities had a chance to shoot at them. But for those who do manage to make it to the other side, here are some palabras that will come in handy when a Mexican border guard shouts, “Usted! Para immediatamente!:

        “No me dispara! No me dispara!”

        “Dios, ayúdame, por favor.”

    • deciodantas

      I already saw that Movie…

    • GSOB

      For many decades now, the US economy is the primary means of cultural dominion: it enables Christians to enlist the skills and
      capital of those who do not agree with our first principles of life.
      but
      they cooperate with us in order to further their ends, yet their activities ultimately extend the kingdom of God in history.

      Evangelism.
      That’s God’s economy.
      That’s really the only reason.

    • MichaelfromTheEconomicCollapse

      Wouldn’t that be a sight?

      Michael

  • Mondobeyondo

    Re:global debt crisis.

    Y’all graduated from the top universities in the nation.
    Harvard. Yale, Princeton, Brown.
    And YOU can’t figure out what is going on?!!
    Come on now. There are one celled amoebas who know something is wrong. Yet you insist everything is fine

    • K2

      I am thinking most of the people here are high school or college dropouts. Look at their comments.

    • David Hammond

      Year after year after year after year after year…you hear the same thing over and over and over and over and over and over and over again….and yet nothing happens as they say. It’s like the boy who cried wolf…well, I think wolf has been cried for too long now. I’ve been reading these articles since 2009, and it’s a revolving door. I’m not denying that something is defiantly in the air, but after awhile you just become numb to voices like Alex Jones, Hal Lindsay, Hagmann & Hagmann…It will go down, but how and when…nobody really knows. It’s all just speculation from now on.

  • davidmpark

    I’ve gone over how to fix this so many times – no need to go over it again.

    Going to bed….

  • Oldphartbsa

    You mention CNN as if it were an actual source of news. I was in the bank the other day and they had CNN running on their lobby monitor. I had already read that China had mobilized troops along Viet Nam’s borders after the riots and Chinese deaths resulting from China placing an oil drilling rig in Viet Nam waters.
    CNN was discussing the Witch’s chances on becoming President and how wonderful she was. The bottom streamer was telling about Ukraine and Putin and Russian troops in the Crimea…
    Not One Word of China mobilized at Viet Nam’s borders.
    There is a reason I no longer rely on television news anymore.

    • MichaelfromTheEconomicCollapse

      It is hard to watch CNN these days. Not more than 10 minutes go by without more worship being directed either at Obama or Clinton.

      Michael

      • PotHead69

        Business is gonna be good for you Michael with a two term Clinton presidency. You guys will have all kinds of stuff to moan about.

  • Mondobeyondo

    “Jumping Jack Flash, it’s a gas, gas, gas!” *

    Interesting to see how things are developing – especially since this little country called Ukraine has a great deal of natural gas to supply to Russia and Europe. One of many reasons Vladimir Putin wants that land for his own, (Warm water port along the Black Sea is another. That’s why Vlad grabbed the Crimea)
    ——————-
    * Rolling Stones. You know the song, I’m sure.

  • David Hammond

    Did Russia buy US securities during the Cold War? No. So who cares if they dump US treasuries. What difference does it make really? Someone else will buy them up.

    • Mondobeyondo

      Because any major power holding US treasuries could cause big time havoc if they decide to dump them. The dollar is already weak as it is. We don’t need to make it any weaker.

    • Tim

      Did you read the article?

      “Our massively inflated standard of living is very heavily dependent on the rest of the world using our currency to trade with one another and lending it to us at super low interest rates.”

      • David Hammond

        Ya, this is nothing new. Has been going on since the end of WW2. The West as a whole cannot survive without the US dollar. The collapse of the dollar will have global catastrophic effects…but having Russia not buying up our debt alone isn’t going to cause the dollar to collapse…Belgium is already making up for the difference…

        • Jimbo

          Why can’t the west survive without the USD? It is simply a
          means of exchange. I work for an Australian company and we buy equipment from
          England in USD. We have a bank account stuffed full of USD that we bought with
          Australian Dollars just for that purpose. We could just as easily buy the
          equipment with Yuan, Euros or Gold. We use USD at the moment because it is an
          accepted standard unit of exchange. The Pound used to fulfil that role once
          upon a time. So did Gold, Silver and Bronze. If the accepted unit of exchange
          ceases to be the USD, we could scrap our USD bank account and buy Euros or
          whatever instead.

          The only country that will be really hurt when the world
          dumps the USD is the USA. That is because everyone who currently holds dollar
          reserves for trade will no longer need them so they will sell them on. When
          everybody is selling something, the price plummets. The rest of the world might
          suffer a bit when the greatest debtor in the history of the planet defaults,
          but the world will become a better place when the vast majority of the people
          living on it are no longer producing simply to provide a minority with goods
          and services on the tab.

          Peter Schiff gives a good analogy of the USA’s role in the
          world economy. Look up the “world economy is an island” on you tube.

          • David Hammond

            The only reason is the petrodollar. The world has to be saturated with US dollars to buy oil from OPEC nations. Only reason why nations buy US securities in the first place. If OPEC decided to rid themselves of the US dollar…well, lets just say wars have been fought to preserve the petrodollar and dictators ousted…It’s the only thing that keeps the US afloat. Even if you don’t want to say it or hear it, you have to admit that Henry Kissinger was a smart man back in the 70s. He played the cards right for the US.

          • Jimbo

            But that is the whole point of this article. If oil is traded between consenting countries using their own currencies, the requirement to hold dollars is removed. As more and more bilateral agreements are drawn up, so the dollar will lose its status. There will be a tipping point when those who hold dollars now will decide to dump them for something else. The company I work for has 200k of USD for purchasing goods from overseas. If our suppliers decided to only accept gold from tomorrow, we would buy USD 200k of gold and hold that instead. Gold would go up and the USD would go down. Multiply my companies 200k holding of dollars by the millions of other companies holding the same, and the situation becomes a total dollar collapse.

          • quercus454

            OK how is everyone going to dump dollars if no one wants them? Only the first few exchanges would process. As people picked up on it, no one would accept them, unless they were backed by something. You see it is a zero sum game. Only the first few players would get any value. The rest would be left holding paper. Because there are so many countries with huge reserves of dollars, the probability of them risking a loss by moving to another currency is small.
            If you switch, you increase your loss, because the move devalued it more. Most countries would probably continue to use dollars to retain the value. By accepting a currency and trading only with that currency you cause it to have value.
            Another possibility is that the US could move to back the dollar with another commodity.

          • Jimbo

            But currency runs don’t work like that. Do you hold a rapidly depreciating currency note or do you change it for something else pronto? The likelihood is that the Dollar will depreciate greatly but still hold some value as the domestic currency of the USA. International reserve currencies always lose value when they lose their reserve status.

          • neal

            That is foolish logic. If you know an asset is overvalued (the USD) and that asset is also held by 200 other countries and millions of companies then the smart move is to be among the first to dump the garbage and get something of real value in exchange. Let others be the patsies left holding the bag.
            Be the first out the door before others and you have the best chance of surviving.

          • Jimbo

            Exactly. Do you stay in the theater when you can smell smoke or do you make your way to the exit before everybody else starts panicking and blocks the way out. You could sit there and hope that the smoke isn’t a fire but it wouldn’t be a very smart thing to do.

          • GSOB

            Welcome to the world.

            You both are right.

          • deciodantas

            David. no South America, yes South Africa, G7 plus Russia or the Country Club already kicked out them for bullying bad behaviours?

      • PotHead69

        I for one would love to see double digit savings rates again, now that I have a little cash.

  • chilller

    As China and Russia team up, the west is painting them as the bad guys. When in fact, they are trying to protect themselves from the west and their psychopathic global domination. Anyone else would do the same.

    • peace angel

      YOU are soooo right. THEY are two of the only nations on earth who did NOT sign AGENDA 21.

    • K2

      Russia is no saint in this too. It has no business taking over the ukrainian territory of crimea and trying to take some parts of eastern ukraine.

      • Marty Kirschner

        for the Russians, that scenario would be a lot better than the West taking over the Crimea nd Ukraine, which obviously was their very intention.

        • K2

          That still doesnt make what russia did, justifiable. Ukraine is an independant country and anybody trying to take over it is unjustified.

          • K2

            Russia or US.

          • Marty Kirschner

            Russia didn’t take over the Crimea. The people of Crimea voted to secede from Ukraine in a fair referendum. THE PEOPLE decided they didn’t want a coup installed govt in place who would be stooges and puppets to the US Central bank global elite. I honestly, don’t blame them. Look at what those aholes are doing to the US and Italy, Portugal, Greece, Ireland, France, Spain and every other European country who are indebted up to their eyeballs to the IMF aka central bank US fedr=eral reserve. Hell they’re destroying this country. I wish the US govt would consider giving the people a choice in things they decide. I guarantee there would be no NDAA, no NSA, No FBI, no CIA, no wars, no Guantanamo, etc etc ad nauseum. The reason they don’t do that is because they don’t give a sht what the people want, only what the giant corporations and the elite wealthy want. I’m an American and I’m not saying Russia is perfect, but I don’t blame them for wanting to keep NATO from surrounding them with missiles pointing at Moscow. We wouldn’t like it if they moved into Canada and pointed their missiles at us. After the cold war was over, NATO was supposed to break up, but instead they’ve been surrounding Russia and China since day one, ad quite frankly it was just a matter of time before they got a little tired of it.

          • K2

            If a situation arises where people of newyork vote to secede from the united states, and want to join canada and then canada sends its troops to take over and adminster it, it is still considered a take over.

            And all those things you mentioned are found in russia too. Maybe not exactly the same, but similar.

          • Marty Kirschner

            try this one out for size. Russia comes to NY and dumps $5 billion dollars to disrupt the Govt. over a period of time. You know, create disorder, protests etc. New York decides to secede from the nation. Washington decides to declare that everyone in NY is a terrorist and sends in troops to start killing people. Texas has wanted to secede from the nation on several occasions. If the US keeps up with its current policies, of destroying the economy, inflating the dollar, taking away peoples rights under the constitution people are going to rise up eventually, especially when they can’t put food on the table, and there will be bloodshed. Then we’ll find out how democratic Washington is.

          • K2

            Nobody declared that everyone in crimea or eastern ukraine is a terrorist and sent troops to kill them.

            And because americas current policies suck, russia is justified in taking over crimea? Neither US nor russia is the ‘good guy’ in the ukrainian situation.

            And do you know the economic/democratic situation within russia? It is not better than the US and in some aspects even worse.

          • Marty Kirschner

            Read the article for which we are posting. It pertains to the gas deal Russia just made with China. While it is true that after the fall of the USSR, Russia has been a waging an uphill battle to bring their economy back, the US in the meantime, has been running roughshod all over the world in their quest for world domination in an attempt to monopolize the worlds resources on behalf of its corporate interests. We destroyed Iraq and killed a million people just so a few already rich people could get even richer. It did absolutely nothing for you or I, because Irqq was never a threat to us to begin with. Backt to Russia, they are in a much better position to destroy our economy than we are to destroy theirs. It is common knowledge that China is behind Russia. The American dollar has been the worlds reserve currency since the end of WW!!. Russia and China as well as many of the brics nations, 80 to be exact, have already decided to forego the use of the dollar in their international trades. The 400 billion deal made between Russia and China is the beginning. Once the other nations, who have been piling up dollars in order to purchase their energy, see that they no longer need the dollar to trade, it will be bye bye dollar..via a via bye bye US economy, bye bye Federal Reserve bank, IMF, and all of the other banks that have been sticking it to us (Americans) for the last 60 years. There will be no tax payer bailouts next time…that you can be sure of

          • K2

            Whats your point?

      • nekksys

        The US fomented the Ukrainian rebellion in order to seize control of the natural gas pipeline from Russia into the EU. Just like the rebellion in Syria was fomented to oust the leaders who opposed building a pipeline across their country from Iraq to the EU for (what else?) natural gas. Putin’s response to this encroachment on Russia’s sovereignty, in my view, is well justified. The whole deal with Syria and Ukraine is nothing more than the US trying to economically dominate Russia; a move which has failed miserably.

        • K2

          Seize the pipeline? do you have evidence for that? You think its easy going around seizing pipelines of a country like russia?

      • Hammerstrike

        Actually it should, these territories are Russian.

        • K2

          How so?

    • MichaelfromTheEconomicCollapse

      Could all of this eventually lead to war?

      Something to think about.

      Michael

      • Mike Smithy

        Absolutely. The sociopaths in power do not want to give up their power and control over the minions. They are trying to provoke a fight in Syria and the Ukraine right now. When the time is right, they will orchestrate a false flag event to cover their tracks and culpability for the collapse of the economy. With a compliant media and a dumbed down constituency, they have a good chance at pulling it off. Never forget that the price of liberty is eternal vigilance.

      • chilller

        Corner any wild animal, let alone a “Bear”, and you’ve got a bloody fight on your hands…and the bear has friends.

      • PotHead69

        Probably, if a republican is elected.

        • Mike Smithy

          Let’s be intellectually honest. Just 6 months ago, President Zero’s Secretary of State was running around perpetuating a false narrative that we need to go to war in Syria. Fortunately, war weary Americans did not buy the false narrative that Assad was using chemical weapons.

  • XSANDIEGOCA

    Golly, the Russians and the Chinese do not appear vexed about Climate Change either!

    • PotHead69

      It’s a friggin disaster over there. I just got back from china, the air quality was horrendous. When they start pumping all those new nat gas wells it will probably be the end of us all.

  • Bruce

    Like so many stories on this site this story also has the potential to be the story that rings the bell causing a collapse of our economy. There are MANY arrows of pain, suffering and massive change aimed our way. It truly is not a question of if but which one and when.

    • MichaelfromTheEconomicCollapse

      It is true.

      A “perfect storm” is brewing, and I hope that people can see that big trouble is on the horizon.

      Michael

  • Jimbo

    Three guys get shipwrecked on an island. One has a printing press, one is good at catching fish and the other is good at collecting firewood. In discussions, it is decided that a monetary system will be managed by the guy with the press. Each fish and each armful of firewood will be worth one dollar. So the fisherman and the firewood collector spend all day hunting for fish and collecting wood. At the end of the day, they return to camp and the guy with the press pays them in dollars for their finds. Six months goes buy and it dawns on the fisherman and the woodman that the guy with the press has a very easy life. He doesn’t have to stand knee deep in the ocean for hours on end trying to spear fish with a stick. he doesn’t have to scour the island for dry wood to burn. he just sits under a tree in the shade and prints money. They challenge the printing guy and ask him to collect wood and catch fish for which they will pay him with some of the many dollars they have accumulated over time. He says “sorry, I am too fat and too unfit for either of those tasks”. The other two decide to move to the other side of the island. The printing press guy dies of cold and starvation. The wood cutter and fisherman reduce their workload by a third each because they only have each other to keep warm and feed. The dollars that turned out to be worthless, make good kindling for the fire.

    • deciodantas

      Welcome to the Republik of The United States of Weimar….

      • El Pollo de Oro

        Danke. Ich bin ein Amerikaner.

        And in the words of Gerald Celente, “Our digital currency isn’t worth the paper it’s not printed on.”

    • jsmith

      Good one! Maybe you should send your post to Janet Yellen and all her puppet members of Congress. Forget the president, he’s a lost cause!

    • Mike Smithy

      I love it and it is relevant to people of all ages. I think you would enjoy listening to the latest X22 Report, episode 371.

    • MichaelfromTheEconomicCollapse

      Very nice parable. I like comments like this. :)

      Michael

      • Jimbo

        I am not a very brainy person so I try to simplify the complicated so that I can understand it for myself.

  • Molon Labe

    Don’t care, let it collapse, I’m ready for the mayhem

    • MichaelfromTheEconomicCollapse

      Are you sure?

      Michael

    • Cassandra

      No one is ready for the mayhem. North America doesn’t understand hunger. We have sat by for years while half the world has starved. All the while assuming that, that would never be our reality. We need each other more than we will ever know. Your pain is my pain. My prosperity is your prosperity. We have globalized to the point that there will not be one without the other. The things we do and don’t do for each other in times of good paints an terrifying picture of what will happen when things are really bad. We are all in this together.

  • Matt J

    The Belgium treasury buying wasnt expected. USA can keep this going forever with deals like that. Sad how there is no more free market.

    • Jimbo

      Rest assured that the Fed will continue to do everything that it can to keep the game going. The fact is though, that you and I know that Belgium is not buying bonds and if we know that, so do all the big buyers of UST’s. As with anything on this earth, the more there is of something, the less it is worth and every new bond issued waters down the value of every other bond in existence.

      • Matt J

        agree. but would like reset now and free market again. the begium stuff just makes it like the “kicking the can” can go on forever..

  • MeMadMax

    Russia has never really needed anybody even in the so called “global economy”, ever…

  • Steve

    Lets start with what is wrong with this article. Hopefully it will not be deleted as my previous challenges have been. Seems unless you tow the party line you are removed.

    First who cares if Russia and China trade directly in their own currencies. The rest of the world trades in Dollars. Even Russia and China have to trade outside of their countries in Dollars. By the way Russia has had over 70 Billion Dollars worth of capital flight in the first three months of 2014 and a reduction of their currency by 40% against the Dollar (26 now 36 to the Dollar) and Russians are rapidly converting their Rubles into Dollars and Euro’s yet there is zero mention of it in the article.

    Secondly Putin had to agree NOT to tie the price of gas to oil prices as Russia has done with the EU. So the Chinese have in fact received a lower price than the EU. You don’t think the EU will look elsewhere or demand the same deal?

    Thirdly the gas line is to be built by the both parties inside each of their own countries and is planned to be online by 2018. Yeah right. Corruption, nepotism, cronyism is endemic in Russia. Good luck with meeting the time schedule yet alone at the price it really should be built at.

    Fourthly the gas line from Siberia has to pass through Mongolia and then into China. China does not have a very good history of playing nice with Mongolia. You think that perhaps the Mongolians might put some “dents” in the physical line or demand their “cut” of the profits since it traverses their country?

    You think the Iranians might not have something to say about the deal since China and Iran are building (maybe finished by now) and oil and gas pipeline across Afghanistan into China.

    The author is entitled to his viewpoint but he is not entitled to leave out pertinent facts. For those of us that live here this article is nothing more than fear mongering cherry picking the facts to do so.

    • Jimbo

      Why does the rest of the world trade in Dollars? Does it have to? Is it a requirement of international law?

    • Chongo

      Nixon fiat currency = poison corn feudalism.

    • GetAlife

      Well said….Michael leaves out a lot of facts to push his agenda and scare tactics. It is even more astonishing the number of people who spend countless hours arguing and commenting on here daily.

    • alan

      I have read this pipeline could T off to many other countries, India, and N/S Korea.

    • Snowbird_in_AZ

      Secondly Putin had to agree NOT to tie the price of gas to oil prices

      ————-

      No, he agreed to no such thing:

      Delivery price for the contract will be tied to market oil prices, Putin said from Shanghai on Tuesday.

    • Snowbird_in_AZ

      You think the Iranians might not have something to say about the deal

      ———-

      Russia Holds “De-Dollarization Meeting”: China, Iran Willing To Drop USD From
      Bilateral Trade

  • jakartaman

    The “American people are the problem” they are the ones that watch the MSM. They are the ones that voted for this adinistration twice. The people are and will get what is coming to them – No empathy from me!

    • MichaelfromTheEconomicCollapse

      It is true that we are voting for our own national demise.

      But we should not lose our compassion.

      They are like sheep without a shepherd.

      Michael

    • PotHead69

      ???? So you really believe that this isn’t all bush’s doing? See this is why we can’t get anywhere. ideologues

  • Richard

    Another brilliant article, Michael. No silly rhetorical questions. No emotive language. No heart-string tugs. Just an immensely powerful, well-written article which towers over us in its push and carry. PLEASE continue writing like this, Michael. You are a truly fine writer when the vapors don’t reach out!
    Congratulations…

    • MichaelfromTheEconomicCollapse

      Thank you Richard.

      I try my best.

      Michael

  • http://www.booksbyoliver.com/ Michigan Lake

    True enough…Russia and China don’t need America as much as we think they do.

    I just can figure out why Obama would want to take on two world powers when there are enough problems at home to solve.

  • quercus454

    But, one also has to look at the dynamic and history between Russia and China. Are both of those countries willing or wanting to allow the other to become dominate? While certainly the US is a thorn in their side, because of proximity to one another, can either afford a shift of power?
    The status is such that regardless of economic ties, there is a lot of not so good history between the two. The US is becoming a paper tiger because of economics, but it’s presence is still a buffer. The enemy they know is a better option to many in Moscow and Beijing, then the uncertainty of confronting one another.

  • James Calvert

    This dollar dump was predicted in the Old Testament book of Habakkuk. The New American Standard has the clearest translation. Read especially verses 6 through 8.

  • death

    Beware, the blood moon tetrad. It began in April 2014, and the last one comes in September, 2015. By fall of 2015, people like Michael will no longer be called “dormers”, but rather, “Prophets”. You have less than 18 months left to prepare, maximum.

    • MichaelfromTheEconomicCollapse

      And don’t forget – the Shmita year also falls within this time period. It begins in the fall of this year and goes into the fall of 2015.

      Michael

      • PotHead69

        Let’s revisit some of your 2012 articles while we are at it

  • Joe

    The west is just full of talks.
    “Red line is crossed”, “Will do whatever it takes”, “Raising debt ceiling does not cost taxpayers a single dime”, blah blah blah …

    Putin is full of actions with little talks – annexation of Crimea, mega gas deal, de-escalate Syria war.

    Whether you like/agree with Russia or not, Putin shows how to execute plan, build connections and make influence. I don’t see any western politicians have that kind of skills. They do one thing well, blowing up their own feet.

  • jimha

    The strings are being pulled for an east/west confrontation by the elites. Nobody is stupid enough to confront Russia on Ukraine and China on hacking.

  • ALM

    China has not increased its US treasury holdings in a year. The FED is printing and buying T-Bills using Belgium as a cover. Foreign lenders are distancing themselves from buying US bonds. That will lead to more printing and raising interest rates. This is the time when Americans and the rest of the world should worry because more than half of the US’s revenue will be used just to pay interests on the astronomical loans the US has accumulated due to its never ending wars. I am afraid the US may try to reset or reboot the world and when that stage is reached, it will be world war 3.

  • RedPillPlease

    Historically, whenever a threat to the “Feds” dominance of the petrodollar occurs, war has ensued. This was the true motivating factors behind our preemptive attack on Saddam’s Iraq. WMD’s along with the “yellow cake” nuclear enrichment materials was only a spoof to mislead the American people in becoming the saber rattling tools in yet another phony war … as Josef Stalin would regard as the “useful idiots.”

    John McManus wrote a shocking exposê behind the real purpose of today’s military and the treasonous actions behind most of our foreign engagements with his, Changing Commands: The Betrayal of America’s Military that should be required reading for all parents whose teenagers might be considering an enlistment “opportunity!”

    Don’t the advertisements we see …
    An Army of One
    A Global Force for Good etc
    appear misleading and quite dubious in the United Nation’s pursuit of a global “police” force?

  • http://batman-news.com Thor Alden Leonard

    Winner has to share!

  • Chris

    Of course, this is inevitable. There is a one world currency on the rise… and it will probably come into existence very shortly. I have always said that the global influence of America must decrease in order for the Antichrist to be able to come to power. That statement goes for the one world order and its currency too.

  • CharlesH

    By Russia and China deciding not to trade in the petrodollar or dumping our debt doesn’t necessarily make them the bad guys. Quite frankly – I’ve often wondered why any country would use dollars in trading when they have their own currency. Other than American hegemony it doesn’t make sense.

    • Jimbo

      Because when Bretton Woods was signed, the Dollar was gold backed and all currencies were tied to the Dollar and therefore gold. Nixon ripped that up in the 1970’s because the USA did not have enough gold to cover the Dollars in circulation. The Petro Dollar was born which forced countries wishing to buy oil to hold dollars. It is not so much that the rest of the world wanted to use Dollars. They didn’t really have much choice.

      • CharlesH

        Notice I mentioned “American hegemony”. That means FORCE. Thanks for reading my comment.

        • Jimbo

          Point taken : )

    • GSOB

      Good point.

      Economically speaking…
      goods and services flow in the direction of
      those who take personal responsibility over their own affairs and over the affairs of those individuals whom
      God has made dependent
      on them for a period of time.

  • Donald Wilson

    Won’t matter when the derivatives take a dump the entire worlds economy including Russia and China will go down the toilet right along with the rest of the world. What we are talking about is well over 1.5 quadrillion dollars, all the economies combined is maybe 100 trillion. Good luck and Good night…The End.

    Bravo Two Zero out…

  • Arizona

    Americans have worshipped SATAN,for so long they believe anything he says,THEY will take the MARK OF THE BEAST,believeing it will be OK with GOD,it won’t of course ,but that won’t change their minds,THEIR ALL POLITICALLY CORRECT,and that will prove their END,talking to DEMONS FROM HELL is a waste of time,EVERY country on earth knows who america loves ,and it ain’t GOD,they love KILLING children,no matter whos children it is and THEY PLAN TO PUT A STOP to it,AMERICA IS A ROUGE NATION,filled with devil worshippers and demons from hell and america loves it that way,YOU americans,THE RUSSIANS and CHINESE,will teach you all about your evil ways here real soon……………..

  • Arizona

    THERES A REAL “BIG” ASTEROID up there,and its coming down,right after you divide JERUSALEM,its coming down just northwest of puerto rico,and then every JUDGEMENT and REVELATION the LORD warned you of, will come to pass on demonic america,the BLOOD americans love seeing in the streets of the world will be flowing in the streets of america….only this time it will be YOUR blood……………….

  • Priszilla

    The US has about 300 Million people.
    Indonesia about 200 million.
    Nigeria about 100 million.

    US = Indonesia + Nigeria.

    • Mike Smithy

      What is your point?

      • Jimbo

        I think the point is that the world does not rely on 300 million US Citizens for its survival. Why should 4.4% of the worlds population consume 25% of the worlds resources?

        • Mike Smithy

          OK I now understand. Thanks for clarifying Jimbo.

      • Priszilla

        Yes the Philippines is a catholic country. The church has prohibited birth control and divorce. Nurses and housekeepers are their biggest exports.

        Want to buy some pesos?

        No? But there’s where the US is headed, too.

        • Mike Smithy

          Take a deep breath and get back on your medications.

          • Priszilla

            It’s the constant warfare that killed the Roman Empire and will kill the USA.

            All the taxmoney spent to buy weapons and ammo and fuel for ships and airplanes and war machinery.

            And not used to invest in the country. Streets, independence from fossil fuel, water security, fights against diseases, education, care for the young, and old, and sick.

            Healthy young men are leaving, damaged veterans return, or just dead. The veterans draining more resources than the dead. Young people sacrificed for the profit of the warlords.

            And the warlords and lobbyists always on the lookout for more conflict, more terrorism, more wars to fight in the name of religion, freedom, democracy.

            King, god and fatherland.

            Money, money and power to make more money.

          • sonofseawolf

            bread and circuses almost over

            protect yourself at all times 14/5

  • RedPillPlease

    Fortunate for me, both Applebees and Chilis are among my growing list of dining places to avoid … and hopefully will attract all those young and loud public school types making my evening much more pleasant.

  • GSOB

    Putin & his predawn attacks.
    12 down.

    5/22/2014

    Let’s rescue those girls in Nigeria!
    Oh wait we can’t… Nigeria has human rights violations and so that limits us.

    17 trillplus deficit.

    The writing is on the wall……

  • GetAlife

    Do they have lots of gold??
    http://en.m.wikipedia.org/wiki/Gold_reserve

    The EU and USA have more gold. I don’t get where this came from that China was hoarding gold. Maybe people should look into the amount of gold that is used in electronic products which sadly China produces (one example is apple products).

  • MichaelfromTheEconomicCollapse

    Nobody knows how much gold China actually has. They quit reporting it. But we do know that they have been gobbling it up like crazy. We just don’t know precisely how much.

    I think that we will all be shocked when we find out.

    Michael

    • Mike Smithy

      Last week, a fellow blogger posed the question as to why the western central banks are intentionally manipulating the price of gold/silver lower which enables China, India and Russia to purchase PM’s at bargain basement prices. It seems counterintuitive. What are your thoughts?

    • alan

      I seen an estimate a couple months ago someone tried to figure it out. He thinks its at least 10,000 tons. But he said there was no way to know all the channels that could be used to bring it in.

    • peace angel

      YES and they are buying up hundred dollar houses over the phone in Detroit.

  • MichaelfromTheEconomicCollapse

    Very good point nekksys.

    Michael

  • MichaelfromTheEconomicCollapse

    Very interesting. Not only are our jobs being shipped overseas, they are also being stolen by technology at an astounding pace.

    Michael

  • MacFly1

    BRICS Bank…

  • Jimbo

    As a regular commenter on here, I would like to make something plain. I don’t want an economic collapse.
    I would love it if the life I have led could be followed by my children. I have never experienced war or hunger. I have never gone without any of the basic needs.
    Sadly, my own research of the world economy, expectations of growth, Keynesian theory and depleting resources always leads me to the same conclusion. I have done the math every which way I can and unfortunately I always come up with the same answer.

    The way we live now will not continue.

    I don’t envisage a world where we all live in mirror coated tree houses or booby trapped dugouts. I don’t imagine that we will live on 10 year old freeze dried rations. I don’t think that we will all need to be ex navy seals on steroids to survive what is coming.

    What I see around the corner, is a declining standard of living in Western countries caused by our foolishness in outsourcing our production to the east. We gave up our jobs so that we could live on credit while they worked.

    We will live like they do now. We will work longer hours for much less. We will subsist and if we can’t work we will die.

    That is the reality that 80% of the world lives in now. We will just join them.

    Maybe we will have a slow decline or maybe will will have an overnight crash. Either way, it is like a sticking plaster on a wound. Take it off slow and it doesn’t hurt so much but it lasts longer. Take it off fast and it hurts like hell for a shorter time. Underneath the sticking plaster is a wound that needs to be fixed before we can begin to recover what we have all given away.

    • Alleged Comment

      You don’t need a degree in finance to wonder what the heck is all those zeroes doing in our debt calculation.

      So, you just need good eyes and the strange ability to count uhh, zeroes.

      • Jimbo

        My 1970’s bought LED calculator doesn’t have that many zero’s. They obviously couldn’t see it coming.

  • Lao Shi

    The U.S. has been engineering the move away from the petrodollar for years The real question is: “What do the U.S. politicians and elite stand to gain by the collapse of the U.S. economy?”

    • Jimbo

      I you are elite and rich, you don’t care what happens to the man below you. You can go and retire in the Bahamas, Swiss Alps, Monaco, Australian Great Barrier Reef or maybe the moon. All that matters to the rich is to stay rich. They care about the average American on the street as much as they care about the average Chinaman, ant, fly or single celled organism. As long as the rich have their protected enclaves, they will continue to get rich and they wont care what we think because we can do nothing about it.

  • Alleged Comment

    NO ONE respects or trust a negro.

    By putting in a negro we have lost trust in our allies and respect by our enemies. They must be confused and laughing, respectfully, at why America would put in a idiot negro.

    • Jimbo

      This post is disgusting. You need help you poor soul.

      • Alleged Comment

        What this negro and his racist liberal handlers are doing to America is disgusting.

        How come you don’t see that? You color blind?

        • Jimbo

          You are sick. Get some help.

          • Alleged Comment

            So you don’t mind an illegal-negro destroy America and you just watch and stand-by?

            Just nuts!

        • Jimbo

          But for arguments sake, I have never heard Adolf Hitler referred to foremost as a white man. What has skin color got to do with anything?
          I am White, Anglo Saxon and Protestant. My wife is Catholic and my daughter is married to an Engineer with black skin. Get a job, get rid of the chip from your shoulder and start behaving like a human being.

          • Alleged Comment

            If you stop practicing racism maybe you can see again.

            For only a racist would get disgusted at mere mention of a negro.

            Like you said, what has skin color got to do with it?

    • PotHead69

      ^ real deal scumbag ^

  • PotHead69

    Or maybe he should just drive better, and get out of the fastlane.

    • jaxon64

      I’d give you ten thumbs up but am only allowed one…great reply !

  • Dean Tucker

    Good article except I am bothered that you keep saying if China and Russia exclude the USD…that’s a done deal in the agreement with VTB and you’re right, the main stream media won’t report it…even Fox News hasn’t mentioned it which is really scary!

  • gwanaambi

    The good news is….we all get to DIE one day and none of this will matter….

  • sonofseawolf

    Hi Michael and ec bloggers,
    I was over reading video rebel he claims the petrodollar will lose 80% of its value. imports prices will skyrocket 500% fun.
    I may have been 50/800 I can’t recall.
    he also says, China is buying missiles from Russia and then reselling them to Iran, the land of the Aryan!
    Fun.
    protect yourself at all times 14/5

  • http://www.FounderChurch.Blogspot.Com/ “FounderChurch”

    World View by FounderChurch

    We Have Only One World, (God’s Creation) So Far, And We Must See It As Clearly As Possible.

    Return To: RUSSIA Book Go To: COUNTRY Book & FOUNDERCHURCH PORTAL

    It is mostly water with some strangely shaped land configurations. Nothing of it is inconsequential, and all is essential to make it work as well as it does. God is truly the author of all things. East is East and West is West and all between is in between.

    Basically the Black and Tan races are sandwiched in between the so-called Whites, and the so-called Yellows. The wars of this world have been either Civil Wars for dominance inside larger groups, complicated by religious wars, that tend to cross racial lines, and fuel Civil Wars. Thus wars aplenty abound.

    But these wars are not about nothing, far from it. They all have substantive purpose, that can be reasoned parsed endlessly, and justified overwhelmingly. And they do settle disputes, untying with the teeth knots of disagreement that will not yield to the tongue though at a terrifying price.

    Many of these conflicts are defined by their water-land relationship components. Rome first fought land battles, and Carthage fought sea battles, but both had to learn to fight on both land and sea, with Rome turning out to be the master of both and hence the victor.

    Today we are shaping up another war that is in the making but not yet peaked. This between East and West with the Black and Tans as usual sandwiched in between. This between the Heartland (Eur-Asia) and Oceania (The Anglo-Americans) or put another way, Russia-China and its allies versus America and its allies. One side is Old made New (Russia-China) and the other side is New made Old, (The West). One side is ascendant (The East) the other side descendant (The West). One side degenerent, (West) the other side regenerent (East). One side adept at sea, West, the other side, of necessity, must be more adept on land, East.

    The challenge to the East is to develop a vast land bridge using rail, air, rivers, and roads on a scale never done before, much like Hannibal crossing the Alps or the Mongols using the horse to conquer the steppes. The challenge to the West is to keep them from doing it. A draw may be likely for a spell like the first and second Punic Wars before denouement.

    One has a hard edge, the other a soft underbelly. Democracy has softened and demobilized the West, while slavery and discipline has hardened the East. Will the East soften before the West hardens? We don’t know, but betting money would have to gamble right now on the East winning this set-to. Mao said, “In a war between man and machines, man will always win.” This theory will be tested as never before. The West has Star Wars, the East has stars in their eyes, and hunger in their belly.

    Who has God on their side? It depends on which God you are talking about. The pertinent question is not whose side God is on, but who is on God’s side. One thing for sure, whichever side implements the CHEM GC of FounderChurch will win.

    FounderChurch Has A New Portal, Where You Can Access more easily the Teachings Of FounderChurch That Have Been Published On The Internet. To Bring Up That Portal Click On The Link Below. Thank You, And May God Bless America, And Bless You, And All Conservative Believers. Amen! FOUNDERCHURCH PORTAL

    FounderChurch is a non-profit public interest tax deductible religious organization. Volunteer, donate, or bequeath your support to further the causes and Ministerial work of these non-denominational teachings that are dedicated to serving God and Country.

    A Google search of “FounderChurch” (as one word) will bring up 3000 hits representing a great number of our teachings. Nothing is perfect, and we are not, but at core, be assured, we advocate on behalf of Godly families, children, and life more abundantly.

    FACT: The Best and Brightest of our young couples are averaging 1.1 children average, when under the best circumstances, it takes 2.2 children for any human population to reproduce themselves. This low rate represents national suicide, and a genocidal holocaust of our people and nation, and is designed by men, not women, to serve Interests that have an agenda based on hate for America. FounderChurch@Gmail.Com

  • Dee

    The successfu Indian Mars probe landing and the Hong Kong uprisings are significant too.

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