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Mai 2014 China and Russia will sign an agreement in which the dollar..

  1. maxoxam41 profile image75
    maxoxam41posted 3 years ago

    . won't be the currency for their transactions. It reminds me of Saddam Hussein's intention to eliminate the dollar from his oil-based transactions. We all know what followed. Is it the end of our currency as an international one? Will it be the beginning of the expected, predicted collapse of our currency, of our economy?

    1. wilderness profile image97
      wildernessposted 3 years agoin reply to this

      Unlikely.  I don't think Britain and France trade in dollars either.  Or Sweden and Germany.  Lots of international trade does not happen in dollars.

    2. Kathryn L Hill profile image81
      Kathryn L Hillposted 3 years agoin reply to this

      Well, what do you know about that?  I wonder if we are being prodded to use the internet for bill paying. (I feel like we are.) Especially for paying our mortgage payments.   What if over time and pressure from the companies themselves... (or whoever is influencing the companies…) we are forced to use only the internet to pay our bills? How easy would it be for China and Russia to just take our country by means of access to all of our accounts on our PCs. Our lives are better or worse due to the computer. I'm wondering if in the end, it is the latter? I actually heard about ten years ago, that if you don't own your house, it will be prey for China. So, we better just keep using the mail… and my advice: whatever you do, pay off your house and have the deed in your possession.
      Or I'm just being paranoid for no reason.

  2. CHRIS57 profile image61
    CHRIS57posted 3 years ago

    Whenever my company does business with China, currency is Euro. With Russia also in Euro. Only for the US it is USD and it is a big fuss about exchange rate fixing and securing. The USD is simply too weak to maintain stability towards the Euro.
    Concerning the agreement between China and Russia - what is the big deal? Russia is economically too weak to have too much impact on world trade.
    The only serious role the USD holds today is in international transportation, by water or air. Freight rates, transport means (ships, aircraft) and fuel are valued in USD. Only if this changes, there is real trouble ahead.