The dollar’s death by a thousand cuts just sustained a major blow courtesy the samurai as Kyodo News announced Saturday that Yen-Yuan direct trading will begin in June. Coincidence that Jim Sinclair predicted 6 months ago that the US dollar would suffer a major set-back in June 2012?
From Kyodo:
Japan and China are expected to start direct trading of their currencies as early as in June as part of efforts to boost bilateral trade and investment, financial sources in China said Saturday.
With the new step, exchange rates between the yen and the yuan will be determined by their transactions, departing from the current ”cross rate” system that involves the U.S. dollar in setting yen-yuan rates.
It will be the first time that China has allowed a major currency except the dollar to directly trade with the yuan, also known as the renminbi, the sources said.
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A little comment I've been thinking about this morning. This is for ILUVPMS and Jiggy's. I have, on several occasions applauded and defended a number of your comments. However, as 427 (If I recall correctly) mentioned of the smell of a troll, I smell it strongly and the smell is foul. If you guys are not trolling, then how about comment on the positive side when warranted. Don't just show up when things turn downward. Yes, I know you've done a little positive, but only when someone has gotten on your arse. You in particular Jiggy's as you normally show and play follow the leader after ILUVPMS. If your feelings are hurt some, well too bad. Continue to comment on what you think PM's are doing but back up your claims. Strong hands are here and if you think it will all turn bad for PM's, the get out of them just as I am out of paper. Quit with the sarcasm unless you can hit the good and the bad. Have a nice day.
Old News for us on Doc's Site we seen it coming that's why where Stacking.
Hi! 2oz don't worry about the Trolls they can't do any harm as this is a Positive Silver Site and we can tell a Troll when they post.
As for ILUVPMS and Jiggy's I don't know if their Trolls or not but their more than welcome in my opinion but if I disagree with them I'll let them know and Vise-Versa. LMAO
Keep Stacking Everyone Time Is Getting Short
I Must Point Out Something: The Article Says:
This is the main thing that seems to be almost impossible to escape by countries who want to rid themselves of the dollar. The fed has entrenched themselves into every aspect of everyone's lives in ways that take decades to erase.
These criminals have figured every little angle to keep control of financial and monetary transactions all over the globe. The pure transaction (Yen-Yuan/Yuan-Yen), needs to be valued as they choose irrespective of global cross rates that involve the dollar or other currencies.
Eventually, they will evolve their transactions into a system where they've determined a specific value of Yen to Yuan without any tie to the global "dollar in the middle" cross rate system. The best way to do this is to value each currency in, guess what, GOLD. When even a sniff of this happens, watch out dollar!---Now go to your coin shop and do your duty
BTW: Jake?
JAKE: Yes Asshole?
Can I Get A Piece Of Those Transaction Fees?
Jake: Listen Asshole, You Have Bigger Things To Worry About.
Don't Remind Me!
Jake: I Don't Have To-- Asshole, --But Just For The Record---
JAKE STOP!
Jake: Sorry, But Violence Won't Solve Anything-- Asshole
Okay, Let Me Have It, I Can Take It!
Thanks Jake!--Is That All?
Jake: Nope--As of 12PM PST, Your Losses Amount To 9.616 Billion--HAHAHAHA!
You make a good point Jake Aside from the very funny posts with you and Dimon going at it, the notion that this 10,000 lb elephant in the pond, aka the US Dollar, wallowing around and splashing muddy water in every direction is going to affect every currency in the world is a very needed observation.
The inflation of QE I or II hit the prices of oil and food with 40% inflation in these critical items. In some countries, particularly the middle east and the Indian subcontinent, the average family spend 50% of the budget on food. Hence the reason they tend to be faily skinny, unlike the 65% of Americans who are, can we say charitably, somewhat zaftig. The Arab spring was a directe result of our spasms of hyper printing that forced many countries, starting with Tunisia, into violent revolution as these country leaders tried to do a Marie Antoinette even though the food locker was empty.
If we hyperinflation our currency the yuan, yen, ruble and rupee will still suffer since many countries will not be on an alternate reserve currency. If our Fed and treasury finds themselves at the short end of a currency war they will print the US dollar to oblivion and flood the world with tens of trillions of TBTF safe haven FIAT This will causing enormous strife and damage to the world's economies and quite possibly leading to very hot regional wars, not the least of which we see in Syria. These wars could easily involve nuclear nations such at North Korea, India, Pakistan and Israel.
The death throes of our empire with its trillions in FIAT based debt, outposts in 110 countries and the desperation of our most foul 'leadership' makes for a very unstable situation. The actions will be cataclysmic if the go to their inevitable conclusion. Bummer
ALWAYS IN BETWEEN
The Tax Only Serves As A Cost of Doing Business and is OF COURSE, passed on to consumers in the form of higher account fees, commissions, and interest. All it does is contribute to inflation which is the hidden tax of the federal reserve system.
PERPETUATE THAT PONZI-SCHEME, BABY!
Here's How The US Collects Tons From Forcing The Dollar In Between All Currency Transactions: The tax was proposed again as an idea to deceive the public into thinking "speculators" would be reined in from profiting on short-term currency fluctuations.
In reality, it's a way for the fed to not only collect on global transactions, but to control gold & oil prices by keeping the dollar at the forefront of all financial activities in the world. This is one of the reasons why most of the Asian and Arab world hate the US.
They want to do their own business free of our exploitation. Again, eventually, they will win by cutting the USA out. They'll either use gold or form agreements among themselves that exclude "dollar-in-the-middle" cross rate systems:
Currency transaction tax
"In 1972 the economist James Tobin proposed a tax on all spot conversions of one currency into another. The so-called Tobin tax is intended to put a penalty on short-term financial round-trip excursions into another currency. Tobin suggested his currency transaction tax in 1972 in his Janeway Lectures at Princeton, shortly after the Bretton Woods system effectively ended. In 2001, James Tobin looked back at the 1994 economic crisis in Mexico, the 1997 Asian Financial Crisis, and the 1998 Russian financial crisis, and said: "[My proposed] tax [idea] on foreign exchange transactions... dissuades speculators as many investors invest their money in foreign exchange on a very short-term basis. If this money is suddenly withdrawn, countries have to drastically increase interest rates for their currency to still be attractive. But high interest is often disastrous for a national economy, as the nineties' crises in Mexico, South East Asia and Russia have proven..."
The rest of this article goes into why this tax is opposed based on the inability to distinguish speculative activity in currency trading vs. normal everyday trading.
Additionally, It goes into the evolution of George Soros' grand scheme to tax (mainly the USA) by taking money from tax payers, creating "special Drawing Rights (SDR's) in order to distribute it to other nations in the world for purposes of global dependency and manipulation of currencies. UNBELIEVABLE CORRUPTION HERE.
Global Taxes To Completely Crush prosperity have also been proposed:
Global Tobin Tax
"In 2000 a "pro-Tobin tax" NGO proposed that a tax could be used to fund international development: <---Why is this our concern, we have better things to do with our money than to give it away as a gift.
"In the face of increasing income disparity and social inequity, the Tobin Tax represents a rare opportunity to capture the enormous wealth of an untaxed sector and redirect it towards the public good. <---WHO DETERMINES THIS "GOOD"? And Why Do We Need REDISTRIBUTION?
Conservative estimates show the tax could yield from $150-300 billion annually." According to Dr. Stephen Spratt, "the revenues raised could be used for....international development objectives...such as meeting the Millennium Development Goals.<---LIBERAL NONSENSE SUCH AS CAP AND TRADE, GLOBAL WARMING AND KYOTO TREATY BS