Bitcoin Forum

Not sure if this was already posted, did a quick glance and didn't see it.

http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html (http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html)

The gas and oil post on another section is full of debate on this also.

The last two countries to try this were Iraq and Libya. Thankfully the American people don't have the stomach to allow our government "bring democracy" to these newest offenders. 

The US cannot start war with Russia and China at the same time, its not a strategic decision.

In the immediate future, the exchange rate of Bitcoin can increase as a result of this. (The value of the USD will decline, as the trade volume is lowered. And proportionally, the BTC vs USD exchange rate will increase).

I don't think this deal is significant enough to make much of an impact on the value of the USD.  The actions of the Fed over the coming months and years will be much more relevant.

This is tired old myth.  Countries and companies deal in oil and gas using non-dollar currency all the time.  Just because its booked in accounts as $ doesn't mean $ where used for the trade. 

People in Russia obey the law? This is more likely to slow Russia down than it is to slow Bitcoin down.

Global currency on the way? If it doesn't seem to make logical sense, it usually makes some kind of sense behind the scenes.

This is just a energy deal between neighbors China and Russia. Are they supposed to exchange their money into USD to trade with each other?

BTW, the Chinese are shit and drive a very hard bargain. Russia also does not give a pigeon's ass about China and know very well how cheap they are.

It does not affect USD in any way because even in China USD is not allowed to be freely traded because they worry money will leave China.

US's broke, no money to bomb Syria and the US "help" to Ukraine is laughable, considering the Canadians sent more aircraft and advisors.

US can't fight a war with anyone - the Empire is gone, it's like the British Empire back in the 1950s.

USA has a president with brains now. Why should we give a rat's ass about Syria, the country is already infighting at this time and so is Ukraine. Why waste our money on it?

There is just no reason to fight like a fool is the point when there is no need to.

USA are in syria, iraq, libya, and not in north korea, is because of oil

venuezla, and iran are next they have lots of oil too

hopefully the chinese and russian or bric governments grow some braincells and use bitcoins as their reserve currency

no no no.. it's going to be like Rome... except everyone is now ruled by the same monetary system say for 3 countries.  When....if the lazy dumbasses of this planet ever open their eyes things might change for the better..  Odds are they will never open them, things will crash and they will be to stupid to understand food and water are what wealth is and be begging for more paper...

At least the Romans knew paper and fake coins are worth absoultly nothing... If it can be printed to infinity.. it will become worth nothing.

I see this as a very good thing. It clearly defines who is with who. The risk in that part of the world is growing stronger every day and where there is risk, smart business usually flees from it. That is the whole concept behind RISK MANAGEMENT. So if American manufacturing decides to move away from the far east, China's economy contracts creating problems. Such as what to do with all that energy they just signed a 30 year agreement with Russia to provide. Their economy began shrinking in 2007/2008 when the US went through the recession.

The vast majority of wars are based on oil.

yes
defund oil wars
hope they wake up and go bitcoin next

This deal is 10 years old. All is allready build. What is more important is But the BRICS countries — Brazil, Russia, India, China and South Africa, are making new Wold bank. For sure wil not be place for USD there. Maybe bitcoin.

You really have no idea why all recent wars were fought? Oil dude...noone gives flying fuck for Saddam or Bin Laden or any of those pricks...all they want is Oil. If they get get it from Devil itself for cheap, they will side with him, no questions asked. In adition, it's not State that runs it all, it's private organizations. To be honest...FED is private organization...cmon now...get down to earth from that cloud of yours.

Well this is a start.
The dollar could slowly decline as the global trade volume decreases.
So the US wouldn't be able to print dollars from thin air without reducing it's value.
Which means that the US wouldn't be able to pay it's huge debt.

Falling dollar affects BTC only in a way that more Americans would go to BTC as value storage and effectivly rise the price of BTC. Nothing else. If dollar looses half of it's value, 1 BTC would be 1000$. One would say: "wow i have doubled my wealth!". Well you did not. As if that happens, 1 bread wouldn not cost x$ it would cost x*2$. So basicly, you as BTC holder did not gain anything...you just saved your wealth (which is goo thing for itself).
So, question is not : "How much $$$ is BTC worth?", question is : "What is buying power of BTC". Would buying power of BTC rise if dollar starts falling? Not if Americans decide to, for example go into Gold instead of BTC. Noone would gain nothing in that scenario (except gold owners as gold would go up).

Arrogance will make country/leader do foolish thing.

No way. Maybe there are some map exercises about such a scenario.

This is great news for btc!
Dollar down, bitcoin up!
Let's see if Russia and China realize that getting into bitcoin would also help bypassing the dollar...

China already have bilateral currency agreement with some countries to by pass USD.

http://en.wikipedia.org/wiki/Internationalization_of_the_renminbi


Isn't it interesting to see Ukraine is on the list also? May be US will pick their next target on the list.

I think there is a designated decline in the USD.

The game is up and the US implicitly acknowledges this; hence the gold stacking from central banks across the world. They'll never repay their debt and QE has not worked.

Further the big banking and finance stuff has been co-ordinated since the financial crisis and so countries have recently begun set up currency lines without remonstration. This is part of the move away from dependence on the USD.

The BRICS have been agitating for this for a while now, the US has sided with Iran and not the House of Saud in Iraq, Russia and China are doing direct deals, trusting their own currencies and not using the reserve currency as their will be no consequence - it wasn't long ago that this would have been a major shot across the bow.

This would not be military feasible. If the US were to declare war on both Russia and China then they would likely become allies and we would likely not win

The US cannot afford to go to war with China. China is the number one investor of US treasuries. If China stops buying, yield will rise. It would be more costly for the US to borrow for financing government.

I don't think China would stop buying US treasuries and/or sell off their treasury holdings, they would stand to lose to much if they did.

but it does strengthen the dollar, and that's what's important.

countries are revolting against the dollar monopoly and USA can't keep them down anymore.

Almost all wars in history were based on competition over resources of some kind.

I agree that US empire has reached its climax and is now collapsing. The US have made far too many enemies through their aggressive "foreign policy".

Unfortunately new empires will emerge - hopefully less powerfull ones that will have to respect the rights of weaker nations to a greater extend than the US.

In my opinion it would be better for every country to skip USD, it's masively, but this is true meaning of masively inflated currency and its debt is growing every day.

Many countries already would have done this, if there wasn't a huge pressure to avoid such steps. US military power prevented such initiatives successfully for decades.

Now, with US overloaded with debt and China and Russia leading the way, acceptance of USD as trade currency will erode quickly.

True. Also, no one should store massive amounts of USD in their savings accounts. It is losing value everyday. One more major war (Iram may be?) and the US Dollar will become even more worthless than the toilet paper.

It doesn't strengthen anything unless there is a trade in $ that requires $ to be acquired.  If you are just booking the value to the days $/Currency x  rate, there is no impact on either currency.  There are billions traded in products from toys to pharmaceuticals to and from the US and across the globe, far greater than the oil value.  billions more in $ denominated bonds stocks and simple currency speculation.

They can hedge the dollar depreciation/collapse by buying and locking in long term contract on foreign resources.

US has much more to lose if any foreign country refuse to accept dollar. The reason why there is so many on going conflict going on right now around the globe.


In essence, you can say US is doing China dirty work by invading another country for resources. But doing so only strengthen the dollar and benefiting country with high USD reserve and US is getting all the blame.

Not true.

The cost of Iran war will most likely less than the resources get back in return.

This is good advice to anyone.
However, the euro seems to be walking down the same path...

The US empire is collapsing because of the fact that we have a president that doesn't have a clue what it is doing in relation to foreign policy (among other things).

I would disagree that the US has made too many enemies. Several democracies have been formed shortly after Bush left office (as a result in the wars in Iraq and Afghanistan, but IMO mostly Iraq). We have used our "big sward" to police the world and help countries in need (when they have no way of returning the favor).

The Euro is much worse off. The EU will always need to support it's weaker member countries, while the US has massive taxing and borrowing capabilities.

Reason why EU should just kick out the weak member countries.

This would threaten the EU as being an ongoing concern. Many countries experience economic recession and this will not necessarily happen at the same time as the rest of the EU.

It's scary how much of the USA is owned by foreign countries. They have too much invested in the USA to start a war.

But wars help unemployment and create markets for goods, e.g. Tanks, jets .... So who knows why decisions are made these days.

Thing is, people suffer and get killed for mostly wrong reasons, but sometimes it's a neccesarry evil to defeat evil.

Meanwhile they seem like they are willing to accept one more country, which is more messed up than the most possibly messed up EU country.

Russia is working on creating an economical block that could compete with transantantic aliance. I think first Putin will try to get together Asia and then join it with South America, which is notoriously against US policies. There are actually many educated people like professors, economists and sociologist that predicts, shift of world influence from West to East.

Fun fact: Most famous and respected fortunetellers predicted Russia/Asia to be main force in world of 21 century.

We live in intereting times.

The EU kicking out weaker member countries would mean the end of the Euro as all countries will eventually go through their own downturns.

hopefully it will actually happen. Can you give details or reasons why you talk like that, friend :)