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RE: Bilateral Trade & Cooperation In A “De-Dollarising” World: Russia & China Take Further Steps Towards Gold Denominated Transactions

in #news7 years ago

Here it is. I knew that Russia and China had been talking about trading crude in something other than dollars for nearly a decade, and now it's coming to fruition. More interesting still, China is moving toward a gold-backed currency. All of this doesn't bode well for the dollar, whose only source of backing is its current status as a world reserve currency. Unfortunately, if China and Russia start trading in something else, so will others, and the only option left to the United States government to keep the dollar from collapsing is military force. Really and truly, that's all that's propping it up now.

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I see that as being quite a possible end state. History is littered with failing empires choosing war as their last desperate attempts to hold on to fading power evaporate

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