And so it BEGINS.... China and Russia may be teaming up.... guess WHY.

Good!!! Let the entire global banking system collapse. The US dollar is no longer worth the paper it is no longer printed on. The ponzi scheme needs to collapse. We need to go back to the gold and silver standard, nationalize the fed reserve, and deatroy the global banking cabal.

the Federal Reserve prints almost 200 billion dollars monthly out of thin air and supplying the system with these fresh numbers on a digital screen, earning money from the creation of it and the interest that goes with it

causing massive global inflation since World's reserve currency is the dollar

what FED does, hits the whole World with same consequences

so USA should be nuked for it

the Federal Reserve prints almost 200 billion dollars monthly out of thin air and supplying the system with these fresh numbers on a digital screen, earning money from the creation of it and the interest that goes with it

causing massive global inflation since World's reserve currency is the dollar

what FED does, hits the whole World with same consequences

so USA should be nuked for it

Russia hates China, they would never do this...

Dispute what the MSM tells you, Russia and China are not friends...

Russia hates China, they would never do this...

Dispute what the MSM tells you, Russia and China are not friends...

An old Chinese proverb "We plant trees so that our grandchildren will have shade"

the Federal Reserve prints almost 200 billion dollars monthly out of thin air and supplying the system with these fresh numbers on a digital screen, earning money from the creation of it and the interest that goes with it

causing massive global inflation since World's reserve currency is the dollar

what FED does, hits the whole World with same consequences

so USA should be nuked for it

Russia hates China, they would never do this...

Dispute what the MSM tells you, Russia and China are not friends...

Injudicious use of sanctions as a means to force other nations to do what the US dictates has caused those targeted nations to make plans to exit the dollar system.



[link to www.zerohedge.com (secure)]


Read the other day that Russia's trade using dollars has dropped below the 50% mark. That shows that their effort to get off the USD system is working.


Not sure what happens when the nations from which we buy 'stuff' stop taking dollars and instead require the US to buy using some other currency...

Russia hates China, they would never do this...

Dispute what the MSM tells you, Russia and China are not friends...

In a rare joint statement in late March, China and Russia doubled down on earlier pledges to upend the global reliance on the U.S. dollar, and the long-standing global financial system that enables the U.S. to strong-arm them.

Will the Sino-Russian strategy succeed? My research suggests “dollar hegemony” is stable for many reasons, primarily due to the United States’ financial centrality and ability to secure investments. The measures announced so far, such as de-dollarization, renminbi digitalization, and alternative financial settlement and messaging systems, are unlikely to kick the dollar to the curb. But the reaction from America’s rivals underscores the limits of the dollar as a tool of deterrence.

If China and Russia devise successful alternatives to the dollar-centered financial system, and if these alternatives gain significant international traction, we would be witnessing a cataclysmic moment in great power rivalry. Currency unipolarity has been a defining feature of the entire postwar era — no currency, not even the euro, has ever come close to rivaling the scale of U.S. dollar use around the world.

An end to America’s dollar primacy and status as a financial hub could mean an end to U.S. macroeconomic perks. And a declining role for the dollar could also undermine the practice of dollar deterrence — the U.S. government’s ability to threaten or deny foreigners access to dollar clearing and, therefore, dollar settlement.

Don’t miss any of TMC’s smart analysis! Sign up here for our newsletter.

This is not the first time countries have railed against dollar primacy. In the 1960s, French Finance Minister Giscard d’Estaing denounced the United States’ “exorbitant privilege” while economist Jacques Rueff decried the “monetary sin of the West.”

However, frustration with the system’s inequity pales in comparison with their ire over the discretion it gives the U.S. to exercise dollar deterrence. Should the U.S. lose this unique form of financial leverage, its ability to benefit from the current international order, and influence countries within it, will be sharply curtailed.

What is dollar deterrence?

U.S. dollar transactions are either cleared through the Federal Reserve or through U.S. financial institutions, which means foreigners depend on the U.S. financial infrastructure when settling dollar transactions. The United States’ ability to turn off the tap on foreign banks’ dollar funding can inflict significant costs on those who evade compliance with U.S. sanctions, given this extraterritorial reach.

Global dollar dependence provides the U.S. government with a powerful lever to police geopolitical behavior without intervening militarily. The U.S. has, for instance, sought to thwart Iran’s bid for regional hegemony, particularly its development of nuclear weapons and missile programs, not only by sanctioning Iran but by imposing secondary financial sanctions on countries dealing with Iran.

[link to www.washingtonpost.com (secure)]

Thank GOD!!! About time. I have traded 80 percent of my USD into Silver. Totally ready for the USD to burn and crash.

As Russian Foreign Minister Sergei Lavrov started a two-day trip to China on Monday, days after senior Chinese and US officials clashed openly during a bilateral meeting, a major topic in talks with Chinese State Councilor and Foreign Minister Wang Yi is how to counter US sanctions -- not just on China and Russia but a growing list of other countries -- using its dollar hegemony, analysts said.

As the new US administration under President Joe Biden signals its intention to continue his predecessor Donald Trump's confrontational approach by wielding sticks, many countries around the world are faced with the risk of a weaponized, dollar-centered global payment system and a growing urgency to find alternatives.

While ending the greenback's dominance remains an almost impossible mission at the moment, there are ways for countries to find ways to at least avert certain sanctions and slowly chip away at the dollar's dominance, analysts added, noting that the trend of de-dollarization in certain areas is on the rise.

[link to www.globaltimes.cn (secure)]

In a rare joint statement in late March, China and Russia doubled down on earlier pledges to upend the global reliance on the U.S. dollar, and the long-standing global financial system that enables the U.S. to strong-arm them.

Will the Sino-Russian strategy succeed? My research suggests “dollar hegemony” is stable for many reasons, primarily due to the United States’ financial centrality and ability to secure investments. The measures announced so far, such as de-dollarization, renminbi digitalization, and alternative financial settlement and messaging systems, are unlikely to kick the dollar to the curb. But the reaction from America’s rivals underscores the limits of the dollar as a tool of deterrence.

If China and Russia devise successful alternatives to the dollar-centered financial system, and if these alternatives gain significant international traction, we would be witnessing a cataclysmic moment in great power rivalry. Currency unipolarity has been a defining feature of the entire postwar era — no currency, not even the euro, has ever come close to rivaling the scale of U.S. dollar use around the world.

An end to America’s dollar primacy and status as a financial hub could mean an end to U.S. macroeconomic perks. And a declining role for the dollar could also undermine the practice of dollar deterrence — the U.S. government’s ability to threaten or deny foreigners access to dollar clearing and, therefore, dollar settlement.

Don’t miss any of TMC’s smart analysis! Sign up here for our newsletter.

This is not the first time countries have railed against dollar primacy. In the 1960s, French Finance Minister Giscard d’Estaing denounced the United States’ “exorbitant privilege” while economist Jacques Rueff decried the “monetary sin of the West.”

However, frustration with the system’s inequity pales in comparison with their ire over the discretion it gives the U.S. to exercise dollar deterrence. Should the U.S. lose this unique form of financial leverage, its ability to benefit from the current international order, and influence countries within it, will be sharply curtailed.

What is dollar deterrence?

U.S. dollar transactions are either cleared through the Federal Reserve or through U.S. financial institutions, which means foreigners depend on the U.S. financial infrastructure when settling dollar transactions. The United States’ ability to turn off the tap on foreign banks’ dollar funding can inflict significant costs on those who evade compliance with U.S. sanctions, given this extraterritorial reach.

Global dollar dependence provides the U.S. government with a powerful lever to police geopolitical behavior without intervening militarily. The U.S. has, for instance, sought to thwart Iran’s bid for regional hegemony, particularly its development of nuclear weapons and missile programs, not only by sanctioning Iran but by imposing secondary financial sanctions on countries dealing with Iran.

[link to www.washingtonpost.com (secure)]

They don't need to be friends to attack common enemy, which is USA.

If USA collapses it is win win for China and Russia.