Fears for the dollar in new global currency link-up scheme.
America have sat proudly atop the global currency scale for many years, seeing their oil dollar prices go up and up, but is this about to change?
The state of current global affairs are slightly worrying, many of the biggest superpowers are jostling for position at the top, at the expense of the economy, and it has even enticed the threat of nuclear war.
As America and Russia are still figuring out whether they are friends or not, positions are being put in place for a system that will bypass the dollar in many global transactions.
It has been reported that Russia and China have come to an agreement in which they will conducted business deals without the need for the dollar to come into play, greatly reducing it’s status, and in turn, wealth.
In a meeting in Beijing, Russian Prime Minister Dmitry Medvedev said:
“I think that the more financial instruments there are in the modern world, the more stable the global financial system will be,” and “The world needs a balanced system of financial relations, based on the use of different reserve currencies for different transactions. There should not be dominance by any single currency.”
In a world where the dominant powers are becoming more changeable, will this move by Russia damage the dollar to a point where it is rendered useless?
Iran have also reportedly approached Russia to put a similar scheme in place. Iranian Supreme Leader Ali Khamenei was reported to have said: “
We can nullify US sanctions, using methods such as eliminating the dollar and replacing it with national currencies in transactions between two or more parties; thus, isolate the Americans,”
These are worrying times for the dollar, at the U.S has used bulling tactics to elicit one-sided deals from many of the big superpowers, it looks like they are taking a stand and fighting back.
Via The Anti Media