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Financial War on America: China and Russia Team Up To Dump Dollar

 

Americans are hearing more and more about our past, Communist enemies in recent weeks, as both China and Russia have been working diligently against the U.S.

China began their tirades against newly elected President Donald Trump mere hours after the republican candidate was elected in November, after taking a congratulatory phone call from Taiwanese leadership.  Given China’s bizarre claims regarding the sovereignty of Taiwan, the acceptance of the phone call by Trump was considered a major affront to the world’s most populace nation.  In recent weeks, China has further asserted that the United States must recognize their totalitarian view of the South China Sea, yet another attempt at keeping the U.S. under their diplomatic thumb.

Russia’s relationship with the U.S. is slightly more complicated, with accusations of rampant espionage and election-meddling being hurled at the Kremlin by none other than former President Barack Obama, a move that many deduced was simply a way to give the incoming Donald Trump one more holdover headache from the democratic demagogue’s disastrous time in office.

Now, these two nations appear to be teaming up, or at least drinking the same Kool Aid, as it pertains to the U.S. Dollar.

“The Russian central bank opened its first overseas office in Beijing on March 14, marking a step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system, and to phase-in a gold-backed standard of trade.

“According to the South China Morning Post the new office was part of agreements made between the two neighbours “to seek stronger economic ties” since the West brought in sanctions against Russia over the Ukraine crisis and the oil-price slump hit the Russian economy.

“According to Dmitry Skobelkin, the deputy governor of the Central Bank of Russia, the opening of a Beijing representative office by the Central Bank of Russia was a “very timely” move to aid specific cooperation, including bond issuance, anti-money laundering and anti-terrorism measures between China and Russia.

“The new central bank office was opened at a time when Russia is preparing to issue its first federal loan bonds denominated in Chinese yuan. Officials from China’s central bank and financial regulatory commissions attended the ceremony at the Russian embassy in Beijing, which was set up in October 1959 in the heyday of Sino-Soviet relations. Financial regulators from the two countries agreed last May to issue home currency-denominated bonds in each other’s markets, a move that was widely viewed as intended to eventually test the global reserve status of the US dollar.”

Certainly, the times are changing for the global economy.  While President Obama was a student of globalism and certainly beholden to the interests of renowned anti-sovereignty magnate George Soros, President Donald Trump presents a refreshing change from the Washington status quo – something that has apparently spooked our former opponents in Asia.

 

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