De – dollarization Moves Ahead – Once Again We Told You So,

by Phil T Looker

Forgive us a little self indulgent gloating, after all it was back in 2005, way ahead of the other contenders, we told you that moves were under way in the east to dump the US dollar as global reserve currency. That was when China, Russia and Iran abandoned the Petrodollar and started to trade in the currency of the vendor nation.

Our mate Ian had spotted the vulnerability of the US dollar and wrote about a move made by the old Iraqi tyrant Saddam Hussein in the 1990s, that showed the way.

How Saddam Hussein May Posthumously Win His War With The USA

Since then, here and on Little Nicky Machiavelli as well as at The Daily Stirrer we have reported the gradual erosion of the US grip on world trade as American international bullying and worries about their debt saw support for the Petrodollar steadily eroded.

And now from The Australian Financial Review via Zero Hedge, we have this:

US Officially Loses Battle Over China-Led Investment Bank

Add the IMF to the (now long) list of those who apparently share the UK’s view that joining the China-led Asian Infrastructure Investment Bank is an “unrivaled opportunity,” as Christine Largarde says her institution not only sees a “massive” opportunity for cooperation with the AIIB but is also “delighted” to explore the possibilities.

International Monetary Fund chief Christine Lagarde has said the IMF would be “delighted” to co-operate with the China-led Asian Infrastructure Investment Bank…

Mrs Lagarde said there was “massive” room for IMF co-operation with the AIIB on infrastructure financing.

Mrs Lagarde, speaking at the opening of the China Development Forum in Beijing, also said she believed that the World Bank would co-operate with the AIIB.

Meanwhile, Switzerland is now on board and India, Indonesia, and New Zealand are reportedly set to follow. As a reminder, the deadline for applications is the end of this month and it appears that the UK’s move to become a founding member has suddenly made the AIIB the coolest club on the block. Australia is expected to tender a “qualified yes” tomorrow.

We have reported the who saga of how Obama tried to bully the world on this, and how one by one, the nations of the world gave him the finger. It’s all in our Currency Wars paged and its related links.

Gotta have a grin at the ineptitude of politicians, haven’t you?

RELATED POSTS:
China – UK dump the US dollar for bilateral trade
Putin Flushes The Dollar Down The Toilet – We Told You So
Petrodollar Alert: Putin Prepares To Announce ‘Holy Grail’ Gas Deal With China

ELSEWHERE:
De-Dollarization Du Jour: Russia’s Largest Bank Issues Yuan-Denominated Guarantees
Leading the charge to multipolarity and de-dollarization are Russia, resugent despite economic sanctions and the rising superpower in waiting, China. The downgrading of the dollar is clearly demonstrated in the launch of the BRICS bank and the establishment of the AIIB.

EU and US talk of war with Russia
The European People’s Party (EPP) is the largest political group in the European Parliament, and they are unerringly supportive of America’s efforts to start a war with Russia. “The time of talk and persuasion with Russia is over,” MEP and Vice-President of the EPP told a meeting on Tuesday, 21 April, “Now it’s time for a tough policy, and concentration on defence and security …”
This Is Why The US Just Lost Its Superpower Status According To Larry Summers
As more and more countries flock to join the Chinese led Asian Infrastructure Investment Bank after Britain, France Australia, India and other traditional US allies defied Washington to associate themselves with China’s initiative, conservative economic pundit Larry Summers once a contender for the chairmanship of the Federal Reserve delivered a sharp rebuke …

Civil Unrest Is Rising Everywhere: "This Won’t End Pretty"

While mainstream media remains focused on trouble spots in Ukraine and Iraq, American economist Martin Armstrong warns civil unrest is rising everywhere.

from Zero Hedge

The greatest problem we have is misinformation. People simply do not comprehend why and how the economic policies of the post-war era are imploding. This whole agenda of socialism has sold a Utopian idea that the State is there for the people yet it is run by lawyers following their own self-interest. The pensions created for those in government drive the cost of government up exponentially with time. The political forces blame the rich and this merely creates a class warfare with no resolution for the future. Even confiscating all the wealth of the so-called rich will not sustain the system. Consequently, we just have to crash and burn and start all over again.

Continue reading

RELATED POSTS:
The Obama Administration Just Accelerated The Demise Of The USA As Dominant Econimic Power
Austerity and Globalism Driving Civil Unrest

Leftie Bashir’s Hypocritical Sexist Hate Attack

Over the weekend, former newsreader and woman hater Martin Bashir(remember his baiting of Princess Di?)trashed American republican airhead Sarah Palin for comments she made to CNN’s Jake Tapper show comparing the results of the national debt to slavery.

Bashir made the same comparison in 2011, however, regarding his distaste for traditional marriage.

After being challenged for using the metaphor, Palin told Tapper in part that she meant the term as

“…being beholden to some kind of master that is not of your choosing. And, yes, the national debt will be like slavery when the note comes due.”

Her comments were reminiscent of when, in 2006, then-Senator Obama referred to the national debt as a “hidden domestic enemy,” or when then-Senator “Stupid Joe” Biden (the one who plagiarised Neil Kinnock’s speeches) referred to the national debt as a “fundamental threat to our economic well being and the global economy,” or when Khmer Rouge sympathiser Harry Reid declared that the national debt would “weaken our country” as reported at Liberty Unyielding.

As reported by Tommy Christopher of Mediaite yesterday, Bashir said on Friday that Sarah Palin was a “resident dunce” and lamented that her remarks were

“scraping the barrel of her long-deceased mind, and using her all-time favorite analogy in an attempt to sound intelligent about the national debt.”

Bashir further referred to Palin as a “world class idiot, (it takes one to know one I guess)” and ranted,

“it’s hardly surprising that she should choose to mention slavery in a way that is abominable to anyone who knows anything about its barbaric history.”

Obviously the fuckwit Bashir does not know anything about the history of slavery or he would know that it has been with us since the very earliest beginnings of civilisation and is still widespread in Africa, South East Asia and the Middle East while only the ignorant, racist, barbaric pale skinned races have banned it.

For the record, thanks to the double standards of leftie hypocrites like the cupid stunt Bashir, who insist that in the name of diversity and multiculturalism we must respect alien cultures by turning a blind eye to the wealthy Arabs, Asians and Africans who openly keep household slaves in Britain, Europe and the USA.

Ironically Bashir himself used the slavery comparison in 2011, when Michele Bachmann and Rick Santorum “signed a pledge on upholding traditional marriage.” Scott Whitlock of Newsbusters reported on Bashir’s comments at the time, quoting Bashir as saying,

“Did two Republican hopefuls really sign a pledge suggesting a return to the days of slavery?”

On Friday the hypocrite Bashir launched an astonishing and blatantly sexist (where would lefties be without double standards)personal attack on Mrs Palin during which he read an account of a slave being forced to ingest feces as a punishment, and suggested that Palin be subjected to similar treatment for her comments. He said,

“When Mrs. Palin invokes slavery, she doesn’t just prove her rank ignorance. She confirms if anyone truly qualified for a dose of discipline from Thomas Thistlewood, she would be the outstanding candidate.”

Using the sexist hate merchant Bashir’s own criteria, he should be the one sucking up shit.

Republicans in the USA have called for Bashir to be deported. Boggart Blog says “No way, we don’t want the little scumsucker back here.”

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