Quiet as kept, there is a silent run on the US dollar

Greetings,

This latest news Around Asia and around the globe does not bode well for America and US dollar supremacy. In fact it is a trend that continues to grow by leaps and bounds. This means that China’s Yuan/Reminbi is being viewed more and more as not just an alternative to the US dollar, but as an out valve to insulate nations from the coming dollar collapse ,which is already in progress.

• Kazakhstan, China agree on settlements in national currencies

In presence of the prime ministers heads of national banks signed agreements on mutual settlements in national currencies and on currency swap tenge/yuan

Kazakhstan’s and China’s Prime Ministers Karim Masimov and Li Keqiang have agreed their settlement will be made in national currencies – tenge and yuan.
In presence of the prime ministers heads of national banks signed agreements on mutual settlements in national currencies and on currency swap tenge/yuan.
Besides, Kazakhstan and China signed a memorandum of understanding on joint organisation of the Silk Road Economic Belt, an agreement on mutual recognition of customs operators, and a protocol about changes and addendums to the intergovernmental agreement on regulations for the Khorgos International Centre of Boundary Cooperation.

& also here;

• London’s RMB business expands rapidly in H1 2014, sees signficant developments

London saw a rapid growth of its foreign exchange activity in the Renminbi, or RMB, products in the first half of 2014, along with the RMB deposit reported its record high. But the total trade financing amount declined slightly on year-on-year basis, said the City of London Monday.

FX ACTIVITY JUMPS

The RMB denominated trade financing in London increased by 79 percent to around 26.5 billion Chinese yuan (about 4.3 billion U.S. dollars), or RMB, in the first half of 2014, compared to the second half of 2013.

But it was lowered than the 27.9 billion RMB in the same period of 2013, said the City in a report entrusted to and authored by Bourse Consult.

Export financing was 7.3 billion RMB in H1 2014, slightly lower than the 7.5 billion RMB in H2 2013. Import financing increased dramatically from 6.5 billion RMB in H2 2013 to 18.4 billion in H1 2014, while letters of credit dwindled from 876 million RMB to 807 million RMB over the same period, figures showed.

Overall foreign exchange (FX) activity in RMB products, however, increased very rapidly in H1 2014 when compared to the H1 2013, with total deliverable products climbed from 15.6 billion U.S. dollars to 42.4 billion dollars, and non-deliverable products expanded from 6.8 billion dollars to 12.2 billion dollars, data showed.

Specifically, deliverable products of spot FX, forwards, FX swaps and FX options all increased substantially over the same period. While non-deliverable products, which includes forwards, FX swaps and FX options, also grew rapidly….MORE HERE 

You can also see how other nations are bypassing using the US dollar in trade and transactions:

• Brazil, Uruguay move away from US dollar in trade

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