T.H.E.M.
¨We believe in the judgment; we believe this first judgment will take place as God revealed, in America...¨
T.H.E.M.
¨We believe in justice for all, whether in God or not; we believe as others, that we are due equal justice as human beings.¨
All-out assault on the dollar: Russia, China scrap US dollar to trade in local currency
Greetings,
In her effort to remain relevant and slowdown her demise America is stoking tensions and blowing the embers of war that could get reshot very quickly. Nations are no longer afraid of the beast that once made them tremble in fear. They are no longer resigned to bowing to her dictates.
No. They are fighting back. They are taking the fight to America and attacking her greatest pillar of power, her dollar. They realize that once this pillar crumbles or is removed, so too is the might of her military and her political influence. This is going to the very heart of the empire.
Russia, China scrap US dollar to trade in local currency
Russia and China ditch the dollar by using local currency in trade.
Russia and China are set to use their own currencies in trading using financial tools as swaps and forwards in response to the latest round of US sanctions against Moscow over the Ukraine crisis.
On Monday, an agreement signed at the end of October came into effect which would allow a currency swap of CNY150 billion (up to 25 billion USD) between the two countries in an effort to reduce the influence of the US dollar and foreign exchange risks.
Russia has been hit with a series of sanctions by the US and the European Union which have accused Moscow of playing a role in the ongoing crisis in eastern Ukraine, a claim Russia has repeatedly rejected.
Regarding the sanctions, Russia’s Deputy Foreign Minister Sergei Ryabkov has said, “Undoubtedly, we will not be able to leave this without a response.”
The China Foreign Exchange Trade System would use swaps and forwards for Malaysian ringgit and the New Zealand dollar as well, which would expand the yuan’s swaps trading to 11 currencies on the foreign-exchange market.
China has established bilateral currency swap lines with more than 20 countries and regions since 2009, including Switzerland, Brazil, Hong Kong, Indonesia and South Korea.
A swap is a financial tool to ease transactions. It is a cash-settled contract between two parties to exchange (or “swap”) cash flow streams.
A forward is a contract that promises delivery of the underlying asset at a specified future date of delivery at an agreed upon price stated in the contract.
Russia’s economy has shrunk for the first time in five years amid falling oil prices and Western sanctions.
However, Putin has warned that no country can “intimidate” or “isolate” Russia. He has also promised an eventual recovery for the ruble.
Source: www.presstv.ir
Click here for reuse options!Copyright 2014 Hiram's 1555 Blog