The stench of growing economic decay grows

[link to www.rense.com]



On Thanksgiving Eve, the English language China Daily and People's Daily Online reported that Russia Daily Online reported that Russia and China have concluded an agreement to abandon the use of the US dollar in their bilateral trade and to use their own currencies in and to use their own currencies in its place. The Russians and Chinese said that they had taken this step in order to insulate their economies from the risks that have undermined their confidence in the US dollar as world reserve currency.  said that they had taken this step in order to insulate their economies order to insulate their economies from the risks that have from the risks that have undermined their confidence in the US dollar as world reserve currency.  undermined their confidence in the US dollar as world reserve currency. This is big news, especially for the news dead Thanksgiving holiday period, but I did not see it reported on Bloomberg, CNN,New York Times or anywhere in the US media. The ostrich's head remains in the sand.