Russia-China Deals: Another Nail in the Coffin for U.S. Dollar

By:  Alex Newman
06/12/2014
       
Russia-China Deals: Another Nail in the Coffin for U.S. Dollar

The Kremlin and the Communist Chinese regime, through their state-controlled “companies,” have been signing major deals with each other that analysts say will contribute to the acceleration of the U.S. dollar losing its status as the global reserve currency.

Two agreements in recent weeks deserve special attention: a $400 billion Sino-Russo energy contract, and a separate deal between two of Russia and China’s largest financial institutions to bypass the dollar in favor of domestic currencies. The geopolitical implications of the fast-moving trends are monumental — especially for the United States, where the end of dollar hegemony will lead to potentially unprecedented economic upheaval.

Of course, it is hardly a secret that the upper echelons of the globalist establishment are plotting to end the decades-old reign of the U.S. dollar. As top insiders have openly admitted, the end goal is to replace it with a planetary monetary regime and global currency operated by the International Monetary Fund, which would act as a sort of world central bank. All of it has been happening with the deliberate connivance of Western globalists, including the banking cartel that owns and controls the Federal Reserve. The IMF is already talking openly about moving its headquarters to Beijing and turning its Special Drawing Rights (SDR) into a true global currency.

Now, the trends appear to be picking up speed. The U.S. central bank, for example, continues conjuring outlandish amounts of currency into existence under the guise of keeping interest rates low and stimulating an “economic recovery.” Around the world, foreign governments and central banks — particularly the regimes ruling the so-called “BRICS”: Brazil, Russia, India, China, and South Africa — are reacting by quietly moving away from the U.S. dollar. Authorities in those nations have also been purchasing massive amounts of gold, which countless experts say is having its price suppressed by Western central banks. 

The latest Sino-Russo agreements, though, mark an important milestone in the ongoing flight from the dollar. The first deal on May 20, dubbed the “Agreement on Cooperation,” was inked in Shanghai between two state-owned banking leviathans as Communist Chinese dictator Xi Jinping and Russian strongman Vladimir Putin looked on approvingly. As part of the deal, the Communist Chinese regime-owned Bank of China and the Kremlin-owned VTB agreed to settle transactions in yuan and rubles.  “Under the agreement, the banks plan to develop their partnership in a number of areas, including cooperation on ruble and [Chinese] renminbi settlements, investment banking, inter-bank lending, trade finance and capital-markets transactions,” VTB said in a statement.

Putin was glowing, too.

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Photo of Xi Jinping and Vladimir Putin in Shanghai: AP Images

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