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.
they are destroying the us on purpose, to merge us into world gov.
the question is…what needs to be done to his unconstitutional and illegal presidency?
What’s it all matter, the federal reserve currency is just monopoly money anyways. Thanks US government for selling us out to the central banking cartel. 96% devaluation of dollar since FEd took over.
Both parties responsible for this travesty.
Monster from Jekyl Isle.
The begining of the world economic new order?
This is part of the economy that we can attribute to our POS prez!
People still act like Barack messed up.. He’s a fuking terrorist purposely destroying America and he’s doing everything right.
Right!^ he’s very smart and knows exactly what’s happening! This was his plan and it’s working
It’s all about the NEW WORLD ORDER and THEIR plan to totally collapse OUR economy and OBAMA is just a puppet of THEIR’S who is seeing it through. Thanks to the sheeple who voted HIM in twice, THIS will be HIS legacy as being the WORST president in US history.