CHINA, RUSSIA QUIT U.S. DOLLAR!!! 11-24-2010

LINK FROM: http://newzzcafe.com/

St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

"About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.

The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said.

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[NYWAORCANZ]

aside of precious metal .....

investing in large food company and large food chains like mcdonalds and dunken donuts may be a smart idea.Peopel need food and they will need to eat cheap

[traynickel]

@NYWAORCANZ If McDonalds or Dunkin Doghnuts sold real food, I'd see your point......

[pakreecekennedy]

U.S.A is in alot of shit, yes. but it's recovering...and tom cruize and tom hanks will still have alot of money no matter what happens. but will they be giveing it to marketplaces???

[traynickel]

@pakreecekennedy Where's the recovery? and please don't say the DOW Jones has recovered....

[traynickel]

@pakreecekennedy Don't just look at the USDX. Look at the dollar versus Gold, Silver, Oil, Swiss Francs, Canadian Dollars and Land O Lakes Butter! The Dollar is DOWN, BIG TIME!

[traynickel]

@pakreecekennedy Jobs will come back to the West when wages are $3 dollars a week. U.S. will be at third world status, without the ability to finance a MILITARY.

[Gary1111001]

@NYWAORCANZ No guarantee McD will be cheap deep into the crisis.

If all that survives are junk-food makers, we'll all die (unsustainable food). But local farms grow the stuff we need to survive, and they're already endangered (monopolizing). Let's invest in a sustainable future: Local farms and gardening.

[777ELDEMONIO]

usa is finished HAHAHA

God Bless Russia & China

I SHIT ON usa

[JBautistaA]

I can never imagine a beautifull chinese woman with a british accent...............

[TankForum]

@pakreecekennedy your a fucking moron if you think america is recovering, you dont see the us dollar falling against other currency's? you dont notice the millions of foreclosures happening in your country? the all time high unemployment rate? the bills congress passes to limit and control the american people, the trillions of dollars the fed printed to bail out gm motors, ford, bank of america, city bank and others.. let alone all the stimulus plans that cause more debt... stupidity

[TankForum]

@NYWAORCANZ the ONLY way to survive the up coming events is too invest into physical gold and silver not mc donalds and supermarket chains.

[TankForum]

The American dollar will soon be worth nothing and I can see this happening during obama's term, printing off money to pay off existing debt will only cause hyperinflation causing the USD to be worthless, Im astounded at how stupid the american people are and how oblivious they are to what there own government is doing and thats slowly taking away your constitutional rights. stop watching jersey shore and save you country you fucking lazy people

[PyrohailMan]

@traynickel If anything it's becoming even worse.

[NYWAORCANZ]

@traynickel

I agree McDonalds and Dunken Donuts is total shit.But that is what the stock market is showing these days.

I mean look at the young people that die to eat that Micky D shit everyday.

Poor people will need to get a meal for almost nothing and that is what Mc Donalds does and not only that they are in almost every country.

But on another note,what about investing in the largest grocery store like "Whole foods " in America or "trader Joe's" or "Safeway" or "Shoprite"?