Russia ditches dollar and to trade with Europe in Euro

[AZADPAKISTAN2009]

https://www.rt.com/business/427654-russia-euro-payments-trade/

Settlements in US currency could be dropped by Russia in favor of the euro if the EU takes a stand against the latest US sanctions on Moscow, Finance Minister Anton Siluanov said at the St. Petersburg International Economic Forum.
“As we see, restrictions imposed by the American partners are of an extraterritorial nature. The possibility of switching from the US dollar to the euro in settlements depends on Europe’s stance toward Washington’s position,” said Siluanov, who is also Russia’s first deputy prime minister.

The EU initially supported Washington’s sanctions against Moscow, but has recently criticized US President Donald Trump’s policy of imposing trade restrictions on other countries. The EU was also hit by the introduction of US import duties on steel and aluminum. The situation escalated even more after the US withdrew from the nuclear deal with Iran.

 

[AZADPAKISTAN2009]

What happens to all that heap of unused dollar ? No one wants to buy ?

I was just curious if there is like bags and bags full of dollar bills but no one wants to purchase it ? Then it ...hmmmm will it mean there is too much of paper money ?

 

[Chinese-Dragon]

What happens to all that heap of unused dollar ? No one wants to buy ?

I was just curious if there is like bags and bags full of dollar bills but no one wants to purchase it ? Then it ...hmmmm will it mean there is too much of paper money ?

If the supply of dollars exceeds the demand for dollars, the value of the dollar will drop. Weakening the purchasing power of those dollars.

 

[AZADPAKISTAN2009]

So should people with 2-3 Suit case of Dollar should sell Dollar and Buy Yuan or Russian money?

 

[Chinese-Dragon]

So should people with 2-3 Suit case of Dollar should sell Dollar and Buy Yuan or Russian money?

That's up to the individual. The Chinese Yuan market is not fully developed for one thing, there are only a limited number of Yuan-denominated financial assets available for purchase. And they usually sell out very quickly.

On the flip side, the value of the Yuan is guaranteed by China's $3+ trillion in currency reserves (not counting sovereign wealth funds), so we can defend the value of the Yuan in a way that no other country can, by selling foreign currencies and buying Yuan to shore up the price. No other country has anywhere close to the foreign currency reserves that China has.

 

[AZADPAKISTAN2009]

Chinese currency appears safe bet

 

[Path-Finder]

petro dollar the greatest curse of our times, the symbol of stealth enslavement!

 

[AZADPAKISTAN2009]

Lets See

• Russia wants out (150 Million people)
  
• Iran wants out (80 Million people)
  
• Venezuella is out (31 Million people)
  
• North Korea already is out
  
• Syria is out
  
• China already is fed up wants out (1 Billion people country out)
  
• Whole Europe trading with Russia in Euro or Yuan big out (Germany/France)
  
• Pakistan recently added Yuan for easy currency exchanges (200 Million people country)

So who will be left holding dollar in end ?

Africa ?

 

[Skull and Bones]

If I had money, I'll buy Gold and Platinum.

 

[AZADPAKISTAN2009]

But if US will print more money ~ ... and their is already US dollar in market that no one wants that is what bothers me at some point in future

Just imagining a scenario

US = Has 5,000 Printers making new Money it is released
World = Does not want Dollar so it comes back to US in Ships and Airplanes as no one wants it

So ..is it good strategy to Print more money , that won't work Printing more money !!
The banks will say we already have old Dollar no one wants

So new printed money will stay at Federal Reserve?

So if world does not Wants dollar then what can US offer ?

• They have corn
• They have cornflakes

 

[TheBlackCoat]

That's up to the individual. The Chinese Yuan market is not fully developed for one thing, there are only a limited number of Yuan-denominated financial assets available for purchase. And they usually sell out very quickly.

On the flip side, the value of the Yuan is guaranteed by China's $3+ trillion in currency reserves (not counting sovereign wealth funds), so we can defend the value of the Yuan in a way that no other country can, by selling foreign currencies and buying Yuan to shore up the price. No other country has anywhere close to the foreign currency reserves that China has.

Chinese currency is pegged to US dollar.

Lets See

• Russia wants out (150 Million people)
  
• Iran wants out (80 Million people)
  
• Venezuella is out (31 Million people)
  
• North Korea already is out
  
• Syria is out
  
• China already is fed up wants out (1 Billion people country out)
  
• Whole Europe trading with Russia in Euro or Yuan big out (Germany/France)
  
• Pakistan recently added Yuan for easy currency exchanges (200 Million people country)

There are enough countries which will back the US Dollar

Canada
Australia
UK
Japan
India
Saudi Arabia

 

[AZADPAKISTAN2009]

• But Trump Told Canada He does not their Surfer Prime Minister
  
• Mexicans were called Dirty people by Trump

Looks like very bad policy

Canada does not depend on Dollar their money goes up when Dollar Tanks

Canada/Australia/UK likely will keep their own currency they don't have debt
UK recently detatched itself from foreign currency to be free of any obligation

Canada /UK / Australia have no debt they won't bail out some poor folks in USA if USA dollar tanks

Will mexicans help out US ? By Buying dollars?

 

[Chinese-Dragon]

Chinese currency is pegged to US dollar.

Not true, the Yuan is not on a currency peg but rather a "managed float". It is allowed to float within a certain band every day.

Check the currency charts, the Yuan has appreciated against the Dollar over the past year. Which would not be possible on a currency peg.

 

[AZADPAKISTAN2009]

When US had a housing /mortgage crisis Canada did not had financial crisis because they don't have big debt like USA , same with UK and Australia

 

[TheBlackCoat]

Canada does not depend on Dollar their money goes up when Dollar Tanks

President Trump is the biggest supporter of Keystone XL pipeline.