Skeptics will surely claim that a BRICS-based anti-dollar alliance will not manage to deprive the dollar of its global reserve currency status. Instead of arguing against this line of thought, it is easier to point out that Washington is doing its best to enlarge the ranks of the enemies of the dollar. Asked by the Russia 24 channel to comment on Nabiullina statements, Sergey Kostin, the president of the state-owned VTB bank and one of the staunchest supporters of anti-dollar policies, offered an interesting perspective on the situation in Europe: “I think the work on ruble-yuan swap line will finalized in the nearest future and the way for ruble-yuan settlement will be open. Moreover, we are not the only ones with such initiatives. We know about the statements made by Mr. Noyer, chairman of the Bank of France. As a retaliation for what Americans have done to BNP Paribas, he opined that the trade with China must be done in yuan or euro.” If the current trend continues, soon the dollar will be abandoned by most of the significant global economies and it will be kicked out of the global trade finance. Washingtons bullying will make even former American allies choose the anti-dollar alliance instead of the existing dollar-based monetary system. The point of no return for the dollar may be much closer than it is generally thought. In fact, the greenback may have already past its point of no return on its way to irrelevance. CLEARLY, IT IS NO LONGER A MATER OF IF, BUT WHEN, THE US DOLLAR WILL LOSE ITS RESERVE CURRENCY STATUS! WHEN THAT HAPPENS THE US, AND PROBABLY THE WORLD, ECONOMY WILL CRATER TO A PLACE FAR, FAR WORSE THAN THE DEPRESSION FOLLOWING THE MARKET CRASH OF 1929! INFLATION OF THE KIND SEEN IN WORLD WAR II GERMANY, AND IN ZIMBABWE, WILL BECOME THE NORM HERE, IT WILL TAKE A MONTHS PAY TO BUY A LOAF OF BREAD! MOST AMERICANS ARE BLISSFULLY UNAWARE OF THIS NEAR CERTAIN DISASTER, THANKS TO GOVERNMENT DISHONESTY, AND EVEN THOSE THAT ARE KEENLY AWARE OF THE PROBLEM LACK THE KNOWLEDGE OR RESOURCES TO DO ANYTHING ABOUT IT!!!! BUCKLE UP, ITS GOING TO BE VERY, VERY ROUGH RIDE, SADLY, MANY WILL NOT SURVIVE, THE SURVIVORS ARE ALREADY PREPARED!
Posted on: Sat, 05 Jul 2014 12:28:49 +0000