Moscow And Beijing Join Forces To Bypass US Dollar In Global Markets, Shift To Gold Trade, by Tyler Durden

the author notes at the end that China is pleased that this change has not impacted the Gold market
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According to the South China Morning Post the new office was part of agreements made between the two neighbours “to seek stronger economic ties” since the West brought in sanctions against Russia over the Ukraine crisis and the oil-price slump hit the Russian economy.

STRAIGHT LINE LOGIC

The US dollar is the world’s reserve currency because the US has the world’s dominant military. It makes sense to use the dollar if the US is providing your defense. It makes no sense if the US sees you, and you see yourself, as a US adversary. That’s the current position of Russia and China. From Tyler Durden at zerohedge.com:

The Russian central bank opened its first overseas office in Beijing on March 14, marking a step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system, and to phase-in a gold-backed standard of trade.

According to the South China Morning Post the new office was part of agreements made between the two neighbours “to seek stronger economic ties” since the West brought in sanctions against Russia over the Ukraine crisis and the oil-price slump hit the Russian economy.

According to Dmitry Skobelkin…

View original post 226 more words

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Author: Lisa the Infidel

I am an #Infidel - born and bred North Carolina.

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