Russia Dumps the U.S. Dollar for Euro as Reserve

[yozhik]

Something else has been very quietly thrown onto our radar screens by stealth ...

IMF Special Drawing Rights ... once the domain of inter-Treasury transactions and very much behind the scenes, as it was really only a currency used from Central Bank to Central Bank, now seems to be sneaking into every day life.

Not convinced?

Go to a generic currency site like www.xe.com ... then search for either IMF Special Drawing Rights or by its 3-letter code, XDR.

I smell the NWO's new global currency being brought into the light of day ... hidden in plain view.

[gorana]

Originally Posted by pgmazica

I agree...they are definitly making ground for amero....
now..there are 2 things that I'm courious about...how will they change dollars into ameros? I mean, at what exchange rate...and at what exchange rate will they change other currencys....( I'm sure that it wouldn't be good for them and that their standard will fall because everything will be more expensive- the same thing happend here with euro- so that countrys will depend even more on USA CB) and what about central banks in those countrys? they will loose this little independence that they have now... USA CB will be stronger than ever...
and second thing that I think about now is....as they would like to unite the whole world with one single currency, what other big country will make their euro, or amero, and how will they create problem-reaction-solution...because before one single currency, first we must have few very big..it won't came out of so many, that's why are they making amero now

If you compare it to Euro transition, which was relatively peacefull compared to Amero, you will see at least doubling of prices within 2 years, you will see propaganda saying that prices only rised for 1,xxx % per year or even fallen down in some cases, but you will wonder where is your money gone, why can't you afford that summer holiday that you could afford when you had dollar.

I'm already sorry for all these americans which will lose their assets through that transition.

G.

[freedom1st]

Originally Posted by kevin82

The US dollar is not Russia’s basic reserve currency anymore. The dollar has thus lost the status of the basic reserve currency for the Russian Central Bank, the annual report, which the bank provided to the State (Russia).

http://www.marketoracle.co.uk/Article10755.html

This will be bad, if it sets precedent for China, Japan and then all OPEC countries to follow. China have recently made public statements having doubts about investing in the U.S. dollar. I believe these nations will do the same as Russia soon.

Iran has already decided to dump the dollar a couple of years ago and if a country like Iraq chooses to take in Euros instead of dollars, this would crash the dollar immediatly. Countries like Japan and China could panic and decide to dump the dollar all at the same time which would mean the end for the U.S. dollar who would never be able to recover.

I agree with your post but would mention that it is unlikely that Iraq will go with Euros as this was one of the reasons for the war in the 1st place, ie. Iraq tried to deal in euros instead of dollars back before the war started and now a million people or more have died. I know oil was also a key but apparantly the main issue was them wanting to trade in euros. Now the US are running things in Iraq I doubt they're be able to go for euros.

[zetetic0void]

and if a country like Iraq chooses to take in Euros instead of dollars, this would crash the dollar immediatly

November 2000

Iraq switched to the Euros for it's oil sales!

In November 2000 Saddam Hussein demanded Euros for his oil. His arrogance was a threat to the dollar; his lack of any military might was never a threat. At the first cabinet meeting with the new administration in 2001, as reported by Treasury Secretary Paul O’Neill, the major topic was how we would get rid of Saddam Hussein-- though there was no evidence whatsoever he posed a threat to us. This deep concern for Saddam Hussein surprised and shocked O’Neill.

http://www.house.gov/paul/congrec/co...6/cr021506.htm

Good article by Ron Paul


----------

US dollar value is propped up by the demand for it by world oil producers using it for selling oil. If they go to Euros, US dollar will be in bad bad shape.

[hawk]

theres a story on www.stevequayle.com about the amero being brought into play.Bank of America is making this transition happen.
Look under the alerts that are on his website. It's in there.

[arty2000]

devalue currencies..one more step to one world debit card

[decim]

When Iran has "the" bomb, trading oil in whatever currency they like will not be long in coming.

The petro-dollar recycling will end.

Then we will see some fireworks.

[pgmazica]

Originally Posted by gorana

If you compare it to Euro transition, which was relatively peacefull compared to Amero, you will see at least doubling of prices within 2 years, you will see propaganda saying that prices only rised for 1,xxx % per year or even fallen down in some cases, but you will wonder where is your money gone, why can't you afford that summer holiday that you could afford when you had dollar.

I'm already sorry for all these americans which will lose their assets through that transition.

G.

Gorana, I can see from your name that you are somewhere from balcans, or am I wrong? I'm from Croatia but I think that we have to continue speeking in english because of others
When euro became currency in Italy ( speaking of italy because we justed to go shopping there before we got all those shoppin malls that we now have), it was 2:1 ( old Lira and Euro), and our currency kuna and old lira were 4:1...so, instead 1 lira, we should give 1/2 euro, but in the end it was all 1:1....or to make easier to understand, what was costing 10 000Liras, now costed 10Eur, instead 5Eur....and that decreased not only the standard of Italian people, but also of their neighbours like us, not to mantion what happened with foreign dept....
and increasing the foreign dept that countries have with Central Banks, it's just what they want to have them under control....

[pgmazica]

Originally Posted by yozhik

Something else has been very quietly thrown onto our radar screens by stealth ...

IMF Special Drawing Rights ... once the domain of inter-Treasury transactions and very much behind the scenes, as it was really only a currency used from Central Bank to Central Bank, now seems to be sneaking into every day life.

Not convinced?

Go to a generic currency site like www.xe.com ... then search for either IMF Special Drawing Rights or by its 3-letter code, XDR.

I smell the NWO's new global currency being brought into the light of day ... hidden in plain view.

Can u please explain little more what you mean by this part: "as it was really only a currency used from Central Bank to Central Bank"

XDR currency is uniqe, made by few most power currencys like dollar, euro, jen...their arithmetic mean is used. And XDR represent for one country their foreign -exchange reserves....they are significant for international liquidity and in general for good banking sistem ( and without stabile banking system we know that cannot function any country because not only that there is no money and consume power, but also there is no investmens and possibility to grow)- making XDR wery sensitive and power instrument for controling one nation....

[yozhik]

Originally Posted by pgmazica

Can u please explain little more what you mean by this part: "as it was really only a currency used from Central Bank to Central Bank"

XDR currency is uniqe, made by few most power currencys like dollar, euro, jen...their arithmetic mean is used. And XDR represent for one country their foreign -exchange reserves....they are significant for international liquidity and in general for good banking sistem ( and without stabile banking system we know that cannot function any country because not only that there is no money and consume power, but also there is no investmens and possibility to grow)- making XDR wery sensitive and power instrument for controling one nation....

What I mean is that XDR was really only used as a book currency.
You're right; it is a weighted basket of currencies to assimilate a single global currency.
So when there were transfers between Central banks, from one country to another; this is when the IMF Special Drawing Rights was used. It was an accounting entry currency, behind the scenes, and not openly traded.

We, as "the public" never needed to know about it as it was not a currency that was ever used on the open market. You could not go into you local bank and ask for a book of travellers cheques in XDR; it didn't exist.

So my question is; why is it now brought into the open?
If it is just an accoutning currency and used in inter-treasury transfers - why now have it "in plain view"?
Why would a foreign exchange site, like xe.com, have it listed in its world currencies?
Doesn't make sense ... UNLESS ... there is a future need for a Global currency.
THEN it makes perfect sense to desensitise the market now and prepare them for the "launch" of XDR, which by then, would already have become somewhat familiar.

Also, does it not seem a "coincidence" that the XDR is also VERY closely correlated to the GBP?
I1ve been watching it recently ... seems it only slightly deviates from being 1:1 ... sometimes a little under, other times slightly over ... but certainly within a very tight range.
Hmmmm ... the global currency is essentially on par with the currency from the NWO's financial hub ... GBP from The City of London.

What a lovely coincidence.

[pgmazica]

your premonitions are deffinitly right....I searched now on internet to see where XDR excahange rate is appearing also...there can be found on line currency converters that include XDR...

but XDR is allready in use in everyday life..I didn't know this for example:
A few countries peg their currencies against SDRs, and it is also used to denominate some private international financial instruments. For example, the Warsaw convention, which regulates liability for international carriage of persons, luggage or goods by air uses SDRs to value the maximum liability of the carrier.
The sums limiting liability were originally given in Francs (defined in terms of a particular quantity of gold by article 22 paragraph 5 of the convention). These sums were amended by the Montreal Additional Protocol No. 2 to substitute an expression given in terms of SDR's. These sums are valid in the absence of a differing agreement (on a higher sum) with the carrier. Agreements on lower sums are null and void.

On November 20, 2008, the exchange rate was 1.00 SDR = 1.176 EUR or 1.00 SDR = 1.472 USD.

so when they started to use XDR for this purpose? on November 20, 2008?that's recently...

also for: As a spinoff from the International Postal Union value transfer rules that use the SDR (but via the International Telecommunications Union as sister UN agency) the SDRs unit of value is used to transfer roaming charge files between international mobile telecoms operators and charges for some radio communications.[citation needed]

* However, within the European Union (and Norway, Iceland and Liechtenstein), prices for roaming have been regulated with regular prices specified in Euros instead of SDR. Both the fees paid by the customers to the phone companies, and the fees paid between the companies, are regulated with amounts given in EUR.

SDRs limit carrier liability on international flights (see Montreal Convention, Warsaw Convention), as well as ship owner liability for cargo damages and oil pollution.

and the most interesting part:In late March 2009 Zhou Xiaochuan, governor of the People's Bank of China proposed using the SDR as a worldwide reserve currency in place of the dollar as a way to cope with the multitude of problems associated with the US Dollar and the Euro being used as world reserve currencies.[4- now I see that it's been about this on forum, sorry for this last info