The dollar is headed towards being absolutely worthless.
What I would do if I was ruling China and Russia is create a crypto currency that was pegged to both currencies. Of course, China can’t be involved in that, because they are still fixated on manipulating their currency for trade advantages, and Russia has no real ability to control the value of their own currency.
So I guess they just have to keep things slow and steady.
Moscow and Beijing have ramped up the share of settlements in national currencies to 25 percent this year against a modest two percent recorded seven years ago, according to the Russian Ambassador to China Andrey Denisov.
“The share of national currencies in our [trade] relations with China is steadily increasing. It has reached about a quarter through the nine months since the beginning of the year. This is quite a big progress,” the ambassador said, citing the Chinese partners.
According to Denisov, the very process of converting the mutual trade into national currencies is really challenging, but absolutely necessary under the current geopolitical conditions.
Yes, it’s challenging – but so is breaking out from underneath the ice if you get trapped under the ice of a frozen river.
But you have to do it, or you die.
The ambassador stressed that the two nations are forced to shift to ruble and yuan due to the constant pressure put on the trading partners.
“China and Russia are not unique in this respect, a wide range of nations have to break up with the US dollar, as it is not just a financial tool, but levers of influence,” Denisov added.
I’m just going to tell you as a matter of fact: they are not moving fast enough.
Precious metals are a no-go. They have to have their own fiat system, and obviously if they had that capacity, they already would have done it. I mean, I don’t think I’m smarter than all of the economists of Russia and China combined, but I just don’t see what the plan is here.
By the end of 2021, the dollar is going to be in extremely, extremely dire straits, and the US is going to be able to take the whole world down with it.
Frankly, Beijing and Moscow should have put this ahead of everything else – ahead of military development, even. Because this is the mode of attack. It is a win-win-win-win for the US, as not only are they going to wreck the economies of their enemies, they’re also going to accomplish their bizarre domestic agenda by burning out the dollar.
I wish everyone luck.