Russia is continuing to ramp up its efforts to move away from the American dollar. The country just shifted $100 billion of its reserves to the yuan, the yen, and the euro in their ongoing effort to ditch the dollar.
The Central Bank of Russia has moved further away from its reliance on the United States dollar and has axed its share in the country’s foreign reserves to a historic low, transferring about $100 billion into euro, Japanese yen, and Chinese yuan according to a report by RT. The share of the U.S. dollar in Russia’s international reserves portfolio has dramatically decreased in just three months between March and June 2018. The holding decreased from 43.7 percent to a new low of 21.9 percent, according to the Central Bank’s latest quarterly report, which is issued with a six-month lag.
The money pulled from the dollar reserves was redistributed to increase the share of the euro to 32 percent and the share of Chinese yuan to 14.7 percent. Another 14.7 percent of the portfolio was invested in other currencies, including the British pound (6.3 percent), Japanese yen (4.5 percent), as well as Canadian (2.3 percent) and Australian (1 percent) dollars.
The Central Bank’s total assets in foreign currencies and gold increased by $40.4 billion from July 2017 to June 2018, reaching $458.1 billion. –RT
Russian and others have been consistently moving away from the dollar and toward other currencies. Economic sanctions, which are losing their power as more countries move from the dollar, and trade wars seem to be fueling the dollar’s uncertainty.
Russia began its unprecedented dumping of U.S. Treasury bonds in April and May of last year. Russia appears to be moving on from the rise in tensions with the United States. The massive $81 billion spring sell-off coincided with the U.S.’s sanctioning of Russian businessmen, companies, and government officials. But Russia has long had plans to “beat” the U.S. when it comes to sanctions.
As reported by RT, the Kremlin has openly stated that American sanctions and pressure are forcing Russia to find alternative settlement currencies to the U.S. dollar to ensure the security of the country’s economy. Other countries, such as China and Iran, are also pursuing steps to challenge the greenback’s dominance in global trade.
This is why the Wash DC deep state elites and the banking criminals want war with Russia, China, and Iran. Kaddafi, Hussein, and Assad were in the same process of decoupling from the dollar, and we know what happened to them. This evil empire is quickly going to come to an end. When the rest of the world decouples, and the Chinese stop buying our debt, the game will be over….and the fiat US dollar will collapse. And I say, good riddens to it.!!!!!
Russia is smart. Putin is smart. The Yuan and the Rupee will both increase many multiples in value over time as a function of their global dominance based upon their large populations.
One of China’s options is to INCREASE the value of the Yuan to the dollar: from say 7 to 5 giving the Chinese people more purchasing power while making exports more expensive, forcing the Chinese People & their economy to INTERNALIZE like our own did.
I told this community years ago that before the Yuan becomes a true world currency (FUNGIBLE) that the bankers would load up with Cheap Yuan anticipating the change in value. Yeah its in the archives.
Putin is ahead of the curve ….. as usual. 🙂
BTW, for all of you dollar haters on here, the dollar will die when the MIC is toast. Not until then. And at that point it won’t affect you at all !!!
And NO there will not be any gold backed dollar, yuan, or anything else. EVER AGAIN !!! 🙂
Russia’s economy is holding its own. So much for the sanctions. Looks like the almighty dollar is doomed regardless.
I have a feeling that the US response to being rejected as a reserve currency, will ultimately be issuing a new Gold backed Treasury note. Backed with the $200 Trillion dollars in fiat debt used to purchase real gold.
What, the gold leaf plated tungsten bricks won’t cut it?
The almighty dollar is nothing more then a way to control and other countries are waking ..wake up America the federal reserve is the enemy has been and always will be if we keep allowing it to be
The dollar is kaputski
All the minuteman missiles aren’t.
Putin is ahead of the medium term curve, and, in true Soviet fashion, entirely blinded by hubris. It’s actually hard to think of a country that’s fucked up as badly and as frequently as Soviet Russia.
Yes yes hypersonic anti-ballistic whatever the fuck, you think small. So many unconventional targets, so hard to choose. Why choose. There’s only 7000 of the fucking things.
I’d light up the Yellowstone Super caldera myself before allowing a full invasion that I’m guaranteed to lose. He should be familiar with this concept, as Kruschev would have done something very similar himself.
Guy, Russia isn’t invading the US. They only have 140 million people. They aren’t the Soviet Russia anymore, either. They aren’t communist, we are.
The importance of other countries not doing business in US dollars is this: the US dollar is the reserve currency for the entire world. And the US dollar is used for most oil trades, thus it is also called the petrodollar. If the other countries stop using the US dollar for international trade, the dollar will collapse. That’s why the Globalists have US bases all over the world. It’s to try and enforce our hegemony on every one at gun point. And the other countries are not happy. As the other countries break away, the Globalists lose power and influence. And in some respects, that is a good thing.
Save your soon to be worthless Federal Reserve Notes. They may some day be valuable as collectables. If not, use them to wall paper a room in your house, especially the crapper!
See Confederate dollars.
Buy honey. It lasts forever.
Wno says the Dollar is worthless – ever tried wiping your ass with Bitcoin?
Invest in lead. Share 3.6 grams at a time with others.
Sorry, I meant lead AND brass…
Excellent commodities combined.
Internationally, It all goes back to who do you trust the most?
No world currency has any value beyond the production
capability of the country and the trust you have in
the country issuing that currency.
If you don’t trust them then you will ask for payment
for your product in a form that works best for your
Ten years ago, there were crazy investors buying Iraqi dinars as an investment because they felt the USA would not allow that to go belly up.
China was allegedly v,backing their currency with gold, but is any fool enough to think they actually have enough? Maybe? I doubt it.
Back in the nineties, one could buy CDs that were in Swiss francs and then these had a rate of return in dollars plus you could then use them as a hedge against declines in the dollar when converting them back.
Another nail in the coffin