The dethroning of the dollar as the world’s reserve currency has just been sped up with China and Russia completing a draft currency swap agreement so they can trade in their domestic currencies, cutting their dependence on the US dollar, of which 75% of their trade is currently in.
The more Obama pussyfoots around with his economic sanctions the more Putin will be forced to fire some real economic missiles back at us.
“The draft document between the Central Bank of Russia and the People’s Bank of China on national currency swaps has been agreed by the parties,” and is at the stage of formal approval procedures, ITAR-TASS quotes the Russian regulator’s office on Thursday.
The Russian Central Bank is not giving precise details on the size of the currency swaps, nor when it will be launched. It says this will depend on demand.
According to the bank, the agreement will serve as an additional instrument for ensuring international financial stability. Also, it will offer the possibility to obtain liquidity in critical situations.
“The agreement will stimulate further development of direct trade in yuan and rubles on the domestic foreign exchange markets of Russia and China,” the Russian regulator said.
Currently, over 75 percent of payments in Russia-China trade settlements are made in US dollars, according to Rossiyskaya Gazeta newspaper.
Why not WALMART / CLINTONS took and made CHINA the greatest economy in the world all while lining their pockets and futures….
Obama wants the dollar destroyed,
This is a type of warfare that has been a long time to happen, but China, Russia and many other nations following, not to mention the BITCOIN…
There is enough blame to go around to both Democrat & Republican..
One world gov’t, one coin, one religion, and one dictator.
This is all obama need to help destroy America,and is part of the plan
Obama the dumbass
America losing it’s position as the “Reserve currency” of the world will cause an immediate decline in every working Americans life. Just another ploy to destroy America from within.
Con la caida de la economia y el imperio de EE UU y sus aliados, SUDAMERICA sera unos de los primeros paises veneficiado como aliados comercial de RUSIA Y CHINA , ya que EE UU siempre trabo la salida hacia la via del desarrollo de estos paises ricos en materia prima para alimentos , reservas de agua y recursos energeticos.
Wtf