This is IT !! U.S. Corporations Dump Dollar For Chinese Renminbi To Buy Imports !!

Is this not business as usual?

Pine this shite!

The U.S. dollar is being increasingly dropped as the currency for settling international trade. But perhaps the latest trend provides the most startling evidence yet that the dollar is doomed as the world reserve currency.

The Financial Times reported today that U.S. corporations are using the Chinese renminbi to buy imports over three times more than they had the previous year:

China’s renminbi is rapidly displacing the US dollar as a trading currency not only in Asia and Europe but now also in the US home market.
[link to www.alt-market.com]

China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week's London summit on the financial crisis.

coal mine canary
written by iwitness02 , June 07, 2014

Is it just me? Or is this Huge?
US RMB payments value evolution chart indicates to me that this will now increase exponentially from here. Translating to what? One year? Two years? Before total devaluation of the dollar. This really narrows down the time frame for any kind of stability. It might be a good idea to skip the vacation plans this year and stay home and plant a garden. This may be the canary in the coal mine.

THIS

Pin

Here we GO!

327% y/o/y increase...wow!

All you assholes who go on other threads and accuse others of being traitors for opposing Obama's wars and before that, Bush's wars, I say this...

FUCK OFF

Because the exact same corporate fucks that bank roll BOTH of those fuckers are the ones doing this currency shit!

The same fucks that want 50 million scabs to flood accross the border into the US!

The same fucks that want a fucking war with Russia!

Here ya go!

There's your fucking traitors!

There is no validity to this story. The Chinese Yuan is a controlled currency artificially pegged to a low value against the Dollar to increase Chinese exports.

This is correct... The dollar is strong. The Yuan is weak...

Volcker said in his Bretton Woods speech this past May:

Was the exorbitant privilege of the dollar as a reserve currency also a dangerous temptation to procrastinate - an impediment to timely policy adjustments, risking eventual breakdown?....

A new Bretton Woods conference? We are long ways from that. But surely events have raised, whether we want to admit it or not, some fundamental questions that have been ignored for decades.

Maybe the reset is happening right in front of us. If U.S. companies choose to abandon dollars for imports, the dollar is in very big trouble, and China may get their wish of a new global currency after all - the renminbi.

i thought china uses yuan ??

Azerbaijan SWF to invest in renminbi

Chinese Renminbi notes

[link to www.ft.com]

Fund seeks permission from Beijing to access renminbi assets
•PBoC guides renminbi higher
•The Short View Falling renminbi raises eyebrows overseas
•Singapore renminbi trade overtakes London
•Profiting from the renminbi
•Markets Insight Weaker renminbi could be China’s subprime
•London to host renminbi clearing bank

Yes and now many American companies use it as well, because the Chinese don't want dollars anymore..

[link to sprottmoneyblog.com]

Renminbi what a fucked up name

my theory is the usa will prop up the dollar and chinese would devalue the yuan if need be.china needs usa trade or we both go off a cliff.yes the rats are jumping ship but what they dont know is the other ship is sinking too.the last to crash gets left holding all the debt or hot potatoes.even quiet little brazil is collapsing.plus the govs through the banks ,control the trading.imho

Not going to help China either if Chinese products pricing increases dramatically for Americans, there just going to say F* it and not buy anything. Sales are already down, American's are already broke, we don't need any more cheap sh*t. Not saying this is a good thing at all, but the whole world is shifting and coming unglued here.

They have been saying for years that when these countries start dropping the dollar then were toast. Which may or may not occur. One thing I would like to know is how come the dollar is still so valuable in places like Venezuela then? Just read a story how prostitutes make a ton of money off currency trading cause the dollar is worth so much more.

Watch that Bruce Willis and Joseph Gordon Levitt movie LOOPER and learn about the future. Reminbi, silver and gold is all you need in a poverty stricken, violent America