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china, russia and india now actively advocating against the dollar as reservre currency.
kind of reminds me of one of those crowded nightclubs with a single door and a fire breaks out waiting to happen.
china, russia and india now actively advocating against the dollar as reservre currency.
kind of reminds me of one of those crowded nightclubs with a single door and a fire breaks out waiting to happen.
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Re: india weighs in against the dollar.
Fri, July 3, 2009 - 10:36 PMindia. . .you want to lose those call centers? heheh. .
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Re: india weighs in against the dollar.
Fri, July 3, 2009 - 10:38 PMthats good. india should go ahead and try and take the dollar down. its just going to make our labor more price-competitive against their slave labor. -
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Re: india weighs in against the dollar.
Sat, July 4, 2009 - 8:49 AMStill, there's a lot of room between the under $4,000USD annual salary paid in India for call center work compared with the $15,000 for a f/t minimum wage job in the US. -
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Re: india weighs in against the dollar.
Sat, July 4, 2009 - 10:26 AM"Still, there's a lot of room between the under $4,000USD annual salary paid in India for call center work compared with the $15,000 for a f/t minimum wage job in the US."
There is lots of room. I went last year and for India to weigh in on the dollar it is going to take some time... thogh everyone ( even the beggers) seemed to have a cell phone... -
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Re: india weighs in against the dollar.
Sat, July 4, 2009 - 10:37 AMNAFTA and GATT effectively collar any progressive idea of dollar reform.
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Re: india weighs in against the dollar.
Fri, July 3, 2009 - 10:57 PM
maybe we are getting an idea of what was being discussed by BRIC.
www.timesonline.co.uk/tol/new...4737.ece
the real point is not so much to challenge the dollar. it's more about shaping US policy at a time when the developing world is supposed to pony up trillions for our latest spending binge. -
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Re: india weighs in against the dollar.
Sat, July 4, 2009 - 10:24 AMI agree that that Times of London story seems to be more on the money in relation to BRIC's motivation. The Russians, at least, don't seem to be going out of their way to bury the U.S., despite Russia's position on the dollar. After all, they are indicating they may give us permission to cross Russian air space to transport weapons into Afghanistan, and that is an issue it would have made a lot of sense for them to balk at, given recent Russian history in Central Asia.
www.thefrontierpost.com/News.aspx
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Re: india weighs in against the dollar.
Sat, July 4, 2009 - 10:32 AMin a world of shrinking oil supplies, being the largest and most wasteful oil and manufactured goods importing economy in the world does not constitute wise future proof positioning.
within ten years there will be a meager handful, if any, remaining oil exporters and the price of oil will be subordinate to access to oil.
sooner or later 'access' will equal 'ability and intention to take by force or threat of force', and that will inevitably lead to wmds.
go america.
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Re: india weighs in against the dollar.
Sat, July 4, 2009 - 11:21 AM(within ten years there will be a meager handful, if any, remaining oil exporters and the price of oil will be subordinate to access to oil. )
The way things are going, within ten years there may not be anybody but a handful of people left in the U.S. who can afford to buy gasoline, fuel oil or electricity. At that point the largest oil importing country in the world will no longer be a drain on the world's petroleum resources.
The big users will be the countries that are moving toward economic dominance -- including some of the countries in the BRIC alliance. That is why China and Russia are both taking steps to glom Nigerian oil.
www.excelerateenergy.com/2008/...r.html
Eventually oil availability will be their problem, not ours. And they already have WMDs.
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