Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Argentina, Brazil to sign trade currency pact:Lula ("abolish the dollar as a currency in our trade")

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
 
Judi Lynn Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 12:46 PM
Original message
Argentina, Brazil to sign trade currency pact:Lula ("abolish the dollar as a currency in our trade")
Source: Reuters

Argentina, Brazil to sign trade currency pact: Lula
Sun Sep 7, 2008 11:20am EDT

BUENOS AIRES, Sept 7 (Reuters) - Argentina and Brazil will sign a pact on Monday that will abolish the dollar in bilateral trade seen hitting $30 billion this year, Brazilian President Luiz Inacio Lula da Silva said in an interview published on Sunday.

The initiative, announced in September 2006 and which had been expected to come into effect in July 2007, seeks to reduce exchange rate costs and simplify bilateral trade between the south American neighbors.

The pact will be signed in Brazil on Monday, when Argentine President Cristina Fernandez attends a bilateral summit -- an initiative that could later be extended to other members of South American trade bloc Mercosur.

"On Monday we will sign an agreement with President Cristina (Fernandez de) Kirchner that will officially launch the use of reais and pesos in our trade exchange," Lula told Argentine newspaper Clarin in an interview.

"We are going to abolish the dollar as a currency in our trade."



Read more: http://www.reuters.com/article/marketsNews/idUSN0736676820080907?rpc=401&
Printer Friendly | Permalink |  | Top
SpiralHawk Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 12:48 PM
Response to Original message
1. Another Bush-McSame-Republicon FAIL
Edited on Sun Sep-07-08 12:49 PM by SpiralHawk
The republicons have tossed the US greenback in the crapper with their crappy, corrupt global economic idiocy.
Printer Friendly | Permalink |  | Top
 
Selatius Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 12:50 PM
Response to Original message
2. This is why Hugo Chavez and all other left wing leaders need to be destroyed.
They are absolutely wrecking American imperial economic power in the region. They must be stopped! :sarcasm:
Printer Friendly | Permalink |  | Top
 
newfie11 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 12:51 PM
Response to Original message
3. I wonder how long before oil sells in Euros?
Printer Friendly | Permalink |  | Top
 
gateley Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 12:51 PM
Response to Original message
4. I don't think the average American has any idea how screwn we are
globally.

People who have traveled to Europe bemoan how little the dollar gets, but how many people can afford Euro vacations these days?


Printer Friendly | Permalink |  | Top
 
DBoon Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 03:53 PM
Response to Reply #4
10. the fewer the number of people who can go to Europe
The fewer know how badly devalued the dollar has become, how little respect the US government commands, and how badly we are slipping
Printer Friendly | Permalink |  | Top
 
Judi Lynn Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 12:52 PM
Response to Original message
5. Argentine president inaugurates plant in Brazil
Edited on Sun Sep-07-08 12:53 PM by Judi Lynn
Argentine president inaugurates plant in Brazil
September 6, 2008 4:55 PM

SAO PAULO, Brazil (AP) - Argentine President Cristina Fernandez inaugurated a new wind generator manufacturing plant in Brazil on Saturday.

IMPSA Wind, part of Argentina's Pescarmona group, said in a statement that the plant is part of a four-year, US$1.5 billion (euro1 billion) investment project that is expected to create as many as 24,000 direct and indirect jobs. Located in Brazil's northeastern state of Pernambuco, the facility will build wind generators for sale in Brazil and regional markets.

Fernandez is on a three-day state visit to Brazil, her first since taking office in December. The neighboring South American nations are the biggest members of the Mercosur trade bloc.

She is scheduled to meet Brazilian President Luiz Inacio Lula da Silva on Monday to sign a deal enacting an accord to stop using dollars for trade transactions between the two nations, Estado de Sao Paulo reported.

The two presidents also are expected to receive a report on the possible creation of a joint state company that would develop compact nuclear reactors, the newspaper said.


http://www.newspress.com/Top/Article/article.jsp?Section=BUSINESS&ID=565363781145069497
Printer Friendly | Permalink |  | Top
 
lapfog_1 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 01:03 PM
Response to Original message
6. And so ends empire.

When the vassal states no longer wish the "coin of the realm" for dealing with other vassal states... they are no longer vassal states.

While many here at DU might celebrate this, they have never lived in third world countries, places where the top 2 or 3 percent live higher lifestyles than most Americans and 97 percent live in near poverty. Middle class is merely those who don't live in a shanty town or hovel. Some here might even relish THIS aspect of what is coming because they figure it will wake the populace to take to the streets. But they have never lived through a brutal authoritarian reaction to revolution. Think St. Paul, only with thousands shot, arrested and disappeared, destroyed.

I, for one, am wishing this not to come to pass.

Say what you want about Darth Cheney, but Sarah Palin scares me far worse... She would push the button to bring about the "end times" because it is "god's will" and she is just an "instrument of his glory" and Jeebus will be here shortly to fix everything. And the thousands of good Christian Americans (the rest of us don't count) that took refuge in Alaska will march at the right hand of Jesus as he begins his thousand year reign. And, yeah, they seriously believe that shit.
Printer Friendly | Permalink |  | Top
 
oldskool Donating Member (178 posts) Send PM | Profile | Ignore Sun Sep-07-08 01:10 PM
Response to Original message
7. These countries don't want
Globalization, prices are up because dollar is weak. Inflation
is taxation on us. Can you blame them.
Printer Friendly | Permalink |  | Top
 
Peace Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 01:53 PM
Response to Original message
8. The U.S.-Bush fascists & Corpos have a BIG problem in S/A--and it ain't Hugo Chavez!
They've tried to MAKE it about Hugo Chavez --ignoring, of course, the PEOPLE who have elected and re-elected him, in an election system that puts our own to shame for its transparency. Chavez "the dictator," the Bushites and the fascist/Corpo media say. They thus imply that Venezuelan voters are stupid peasants (--a country with a higher literacy rate than ours--near 100%--and where everybody actually reads the Constitution, and where 80% of the people actually vote). But they are also ignoring the opinion of someone like Lula da Silva, President of Brazil, who recently said, of Chavez: "You can criticize Chavez on a lot of things, but not on democracy."(!)

Hm-m. Why would he say that? Venezuela is, in some ways, rival to Brazil. You'd think Brazil would be rather concerned having a "dictator" on their border, and would welcome fascist/Corpo demonization of a "dictatorial" neighbor. The truth is, a) Chavez is not a "dictator" (not even close); and b) the Chavez government--a key leader of the leftist (majorityist) movement that has swept the continent--has some very good ideas, among them, the Bank of the South (regional financing of development--booting out World Bank loan sharks), and cooperation among South American countries on goals of social justice and self-determination--i.e., ending U.S./Corpo dictation to South American countries.

The real dictators, as Lulu knows, are the Bushwhacks and Exxon Mobil, Bechtel, Dyncorp, Monsanto & brethren. Chavez has led the way in fighting back--peacefully and democratically establishing the sovereignty of Latin American countries and their peoples over these U.S.-spawned transglobal monsters and their puppets in the White House. Chavez and his government--and the people of Venezuela--have empowered others to fight back--with results like this (Brazil/Argentina going off the dollar), and also swift movement of all of these countries toward a South American "Common Market" (not including the U.S.).

So, yes, Chavez is part of their problem, but not because he is a "dictator"--rather because he is not; he's highly respected in South America, by both people and leaders. The Bushwhacks' main problem is that Latin American self-determination is an idea whose time has come--and the Bushwhacks and their Corpo puppetmasters are trying to battle this historic movement on entirely false premises--that it is a battle with "dictators" (--a term they are also now using against the presidents of Ecuador and Bolivia, and will, no doubt, soon be using against the presidents of Brazil and Argentina) and that is is a battle "terrorism." They have tried to tie this astonishing PEACEFUL, democratic movement with the leftist guerrillas in the Bush Cartel narco-state of Colombia, and with the "war on terror." The South Americans know that these things are not true. And they are sick and tired of this bullshit--including, recently, the Bushites backing white separatists in Bolivia, and trying to tear that country to pieces, with similar plots in Venezuela and Ecuador (all aimed at grabbing the oil)--and they are going their own way.
Printer Friendly | Permalink |  | Top
 
Runcible Spoon Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 02:39 PM
Response to Original message
9. while American media enjoys its Palin dog and pony show, the REAL STORIES get swept under.
this is a big deal. Mercosur are big global players, and when its members dump the dollar and start eyeing other markets, it is an ominous sign.
Printer Friendly | Permalink |  | Top
 
safeinOhio Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 05:55 PM
Response to Original message
11. To understand South America
If you can find the time, please read "The Shock Doctrine The Rise of Disaster Capitalism" by Naomi Klein. Free markets don't go well with democracy.
Printer Friendly | Permalink |  | Top
 
Robbien Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-07-08 06:05 PM
Response to Original message
12. They are a bit late in taking this action
It may be too late, but at least they are taking action.

Good for them.
Printer Friendly | Permalink |  | Top
 
libodem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-08-08 02:41 PM
Response to Original message
13. Print more money
thatal fix it. I love my country and want a strong economy but these Bush-bastards deserve everything they get. I just hope it goes in the dumper before Obama takes the reins and they blame it on him. The blame needs to be placed squarely on the Bush junta. Have I ever mentioned to all of you out there that I hate these sumbithches?
Printer Friendly | Permalink |  | Top
 
fascisthunter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-08-08 03:36 PM
Response to Original message
14. Good Going Conservatives.... you failed again
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Thu May 02nd 2024, 08:19 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC