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.
I knew this was coming!!! I read an article about this a few weeks agao. And a poster on FB grilled me and laughed!!!!!!!! Our money will NOT be worth anything once t his happens!!!!!!!!!!!!!!!!!!
Brazil and other dictators forming the BRICS’s bank: http://www.theinteramerican.org/blogs/law-and-government/410-what-is-the-sao-paulo-forum
He is methodically destroying America!
TRI-LATERAL BRIGADE. WE KNEW IT WAS COMING. BE PREPARED.
Yes he is, trying and succeeding slowly as we all sit by and watch it happen!!! We need to wake up America !!!
Get rid of that Marxist, Muslim, Piece of $#%&!@*, and all his Communist buddies(Reid, Pelosi, Holder, Hillary) as soon as possible !
as Glenn Beck stated a while back – people really ought to pay attention
Don’t you get it, yet! He doesn’t care.
By the time Publishers Clearing House picks me as the winner, $5000 a week won’t be worth anything.
Its all part of a bigger plan people open your eyes realize n stand up there’s more of us then them. I strongly believe the un is in on it for one world currency one world government one world Kennedy warned everyone in the 60s n he got killed for it. Look it up