• Home
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • User/Email: Password:
  • 3:33pm
Menu
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • 3:33pm
Sister Sites
  • Metals Mine
  • Energy EXCH
  • Crypto Craft
  • Story Log
User Time Action Performed
  • France’s Noyer Says BNP May Prompt Shift Away From Dollar

    From bloomberg.com

    Bank of France Governor Christian Noyer said the U.S. investigation into BNP Paribas SA (BNP)’s dealings with sanctioned nations may encourage companies to stop using dollars in international transactions. “We could say that companies would have maximum interest to do the most possible transactions in other currencies,” Noyer, who is also a member of the European Central Bank’s Governing Council, said yesterday on BFM television. “Trade between China and Europe -- do it in euros, do it in renminbi, stop doing it in dollars. This is an affair that will leave marks.” Noyer’s remarks are the strongest yet ... (full story)

  • Comments
  • Comment
  • Subscribe
  • Post #1
  • Quote
  • Jun 12, 2014 9:44am Jun 12, 2014 9:44am
  •  BlazeHun
  • | Joined Nov 2011 | Status: Member | 79 Comments
Nice!

Lets do it now!

 
 
  • Post #2
  • Quote
  • Jun 12, 2014 10:09am Jun 12, 2014 10:09am
  •  frx_trader
  • | Joined Jun 2012 | Status: Analyst | 3,129 Comments
That can't happen in short term. Countries Reserve are in USD. What will happen if 25 pct of those countries shift their reserve to Euro and Renminbi?

And remember companies have to pay to fix their computers systems, payment, and accounting. And trades that are usually done in USD, suddenly become a lot different.

And way of thinking and communication.

It's like when metric systems are changed from inch, feet to metres , etc.

What chaos will it make? It's already painful to shift from franc, DM, etc to Euro. Now, they have this crazy idea to make everybody use Euro. They have to keep their craziness to themselves atm.
 
 
  • Post #3
  • Quote
  • Jun 12, 2014 10:17am Jun 12, 2014 10:17am
  •  Vachus
  • | Membership Revoked | Joined Jul 2012 | 57 Comments
Quoting frx_trader
Disliked
That can't happen in short term. Countries Reserve are in USD. What will happen if 25 pct of those countries shift their reserve to Euro and Renminbi?

And remember companies have to pay to fix their computers systems, payment, and accounting. And trades that are usually done in USD, suddenly become a lot different.

And way of thinking and communication.

It's like when metric systems are changed from inch, feet to metres , etc.

What chaos will it make? It's already painful to shift from franc, DM, etc to Euro. Now, they have this crazy...
Ignored
No, it's not that difficult - this is not a country changing it's dominated currency, but the way it does international trade ... Russia already is doing it slightly with china!

But, this will be like someone declared war on United states and it's precious Dollars.
As for the companies paying bills, or services - there are far more options to this problem, one of them is fixed annual rate.
 
 
  • Post #4
  • Quote
  • Jun 12, 2014 10:36am Jun 12, 2014 10:36am
  •  highway
  • | Joined Sep 2005 | Status: Member | 338 Comments
The Financial Times reported today that U.S. corporations are using the ... China's renminbi is rapidly displacing the US dollar as a trading ...

http://blogs.ft.com/beyond-brics/201...s-home-market/
 
 
  • Post #5
  • Quote
  • Jun 12, 2014 10:36am Jun 12, 2014 10:36am
  •  trademin
  • | Joined Apr 2007 | Status: Member | 10 Comments
looks like one is getting out of order when their idea is to reach One World Order...huh!
 
 
  • Post #6
  • Quote
  • Jun 12, 2014 10:41am Jun 12, 2014 10:41am
  •  highway
  • | Joined Sep 2005 | Status: Member | 338 Comments
http://online.wsj.com/news/articles/...84531422336230
 
 
  • Post #7
  • Quote
  • Jun 12, 2014 10:44am Jun 12, 2014 10:44am
  •  highway
  • | Joined Sep 2005 | Status: Member | 338 Comments
http://www.wantchinatimes.com/news-s...00074&cid=1102
 
 
  • Post #8
  • Quote
  • Jun 12, 2014 10:45am Jun 12, 2014 10:45am
  •  highway
  • | Joined Sep 2005 | Status: Member | 338 Comments
http://cib.shangbao.net.cn/305/2014/0106/250707.html
 
 
  • Post #9
  • Quote
  • Jun 12, 2014 10:47am Jun 12, 2014 10:47am
  •  frx_trader
  • | Joined Jun 2012 | Status: Analyst | 3,129 Comments
Quoting Vachus
Disliked
No, it's not that difficult - this is not a country changing it's dominated currency, but the way it does international trade ... Russia already is doing it slightly with china!

But, this will be like someone declared war on United states and it's precious Dollars.
As for the companies paying bills, or services - there are far more options to this problem, one of them is fixed annual rate.
Ignored
Not difficult, but painful. What is unemployment rate in EZ? What is unemployment rate in Germany?
 
 
  • Post #10
  • Quote
  • Jun 12, 2014 12:10pm Jun 12, 2014 12:10pm
  •  TheTopBloke
  • | Joined Sep 2007 | Status: Forex God | 1,035 Comments
Quoting frx_trader
Disliked
That can't happen in short term. Countries Reserve are in USD. What will happen if 25 pct of those countries shift their reserve to Euro and Renminbi?

And remember companies have to pay to fix their computers systems, payment, and accounting. And trades that are usually done in USD, suddenly become a lot different.

And way of thinking and communication.

It's like when metric systems are changed from inch, feet to metres , etc.

What chaos will it make? It's already painful to shift from franc, DM, etc to Euro. Now, they have this crazy...
Ignored
There is a world that exists outside of 'murica. Supply and demand. If one makes it difficult to do business with, one soon finds no one to do business with. If one sanctions too many participants, those participants find ways to trade without the hassle of the one. It's a no brainer. There are other companies, and other professionals, that can build computers, communications, transport materials. Somehow 'murica's elite manages to think the world cannot survive without them. It has before, it will again.
 
 
  • Post #11
  • Quote
  • Jun 12, 2014 5:53pm Jun 12, 2014 5:53pm
  •  Mingary
  • Joined Mar 2011 | Status: I should be on your ignore list | 2,298 Comments
It's just stupid talk as retaliation against the huge fine imposed on BNP. BTW, serves them right. Karma is a bitch, Jerome Kiervel must be celebrating.
Anyhow, if they are stupid enough to do this, well the bank will be Noyer (sunk).
(Not a good name for a banker)
 
 
  •  Guest
  • | IP X.XXX.140.84
Join FF
  • Story Stats
  • Posted: Jun 12, 2014 9:41am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 11  /  Views: 2,378
Top of Page Default Page
  • Facebook
  • Twitter
About FF
  • Mission
  • Products
  • User Guide
  • Media Kit
  • Blog
  • Contact
FF Products
  • Forums
  • Trades
  • Calendar
  • News
  • Market
  • Brokers
  • Trade Explorer
FF Website
  • Homepage
  • Search
  • Members
  • Report a Bug
Follow FF
  • Facebook
  • Twitter

FF Sister Sites:

  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Forex Factory® is a brand of Fair Economy, Inc.

Terms of Service / ©2022