Market blowup coming....just the tip of the iceburg what is ongoing in the battle to take out the dollar!
Will be back this week to talk more, but this kind of news will just rattle the markets...this take down has nothing to do with automakers, this is all so, so much bigger!!!
Few understand how, out of favor, America is right now due to this financial crises and all the crap paper that has been sold to the world via bundling of assets...the backlash out of dollars has begun.
Hunker down, markets are going into a tailspin. China has drawn the battle lines with what you read below and much more in the past week or so!
And if there is no change out of the G20 (changing international financial system), there will be anger and reaction!
The US cannot afford to be without Asia on this globe, they cannot isolate themselves - or can they?
And who is next, one must ask - how is this stopped, one must also ask.
So many questions.
West
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HONG KONG (MarketWatch) -- China and Argentina have agreed to set up a 70 billion yuan ($10.24 billion) currency swap system that will enable trade between the two nations to be settled in the Chinese currency, the state-run Xinhua News Agency reported Monday.
The agreement, the largest ever between China and a Latin-American country, was signed Sunday in Columbia, Xinhua reported.
The agreement marks Argentina as the fifth nation to sign currency swap agreements with China following similar agreements with South Korea, Malaysia, Belarus and Indonesia. China ranks as Argentina's second-largest trade partner.
Separately, China and Argentina are set to push for changes to the international financial system at the Group of 20 leader's summit in London this week, Xinhua reported.
The two nations will seek a bigger representation of emerging nations at reform talks. The report did not specify what reform issues would be discussed
marketwatch.com |
