Okay the internet is plagued with Nth American conspiracy theorists peddling their scares.
But this time it could easily be true, see here:First of all little macho dictator Putin is well pissed off that he and fellow corrupt billionaires got sanctioned and has unveiled a decree that can force companies to trade in rubles not dollars.As you may know the whole capitalist juggling act that lets the USA print and borrow trillions only works because the world has been forced for over 60 years to trade for oil in US dollars that it first has to buy.Many say threats to upset this system were behind the Iraq slaughter and the anti Iran campaign.Now there seem to be real indications that Russia and China will finally do a deal in their own currencies, which could ignite the chain reaction and bring Wall Street crashing down!Really!?But hang on a minute.. Don’t the Chinese own half the US debt so they wouldn’t want a collapse.My guess is this is just Putin’s petty power play, maybe a small percentage of trade might be done in rubles, just to scare the Americans into backing off with their sanctions.Much as we would love to see the collapse of capìtalism this looks more like a bluff gambit than mutual economic slaughter.an extract from the article:”Of course, the success of Moscow’s campaign to switch its trading to rubles or other regional currencies will depend on the willingness of its trading partners to get rid of the dollar. Sources cited by Politonline.ru mentioned two countries who would be willing to support Russia: Iran and China. Given that Vladimir Putin will visit Beijing on May 20, it can be speculated that the gas and oil contracts that are going to be signed between Russia and China will be denominated in rubles and yuan, not dollars.
In other words, from 20th May look out for not only the announcement of the Russia-China “holy grail” gas agreement described previously here, but its financial terms, which now appears virtually certain will be settled exclusively in RUB and CNY. Not USD.”
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