Posted By: Susoni [Send E-Mail]
Date: Friday, 26-Dec-2014 17:22:03
2015 should be interesting!!
December 26, 2014
The World Changes On Monday, December 29, 2014!
By Susan Duclos
With holiday chaos, traveling and families getting together for Christmas, many may have missed an announcement that will change the world as we know it, where China has announced the launch of Yaun trading with Russian Rubles, set to begin on Monday, December 29, 2014!
As is explained in the Zero Hedge article discussing this announcement and the ramification of it, this will "not only enable and make direct currency trading more efficient by sidestepping the dollar entirely, but also allow Russian companies to budget in Chinese Yuan terms."
Directly from the Zero Hedge article, we see what the effects of this huge news will be:
So while the US continues to parade with "destroying" the Russian economy, even if it means crushing the shale industry, aka the only bright spot, and high-paying job-creating industry in the US economy over the past 5 years, Russia and China continue to be nudged by the West ever closer monetarily and strategically, until one day, as we have long predicted, China and Russia will announce a joint currency, one backed by both China's "surprising" gold reserves and Russia's commodity hoard.
Things are about to get VERY interesting......
China offers Russia help with currency swap suggestion
PressTV News Videos
Published on Dec 22, 2014
China has offered support for Russia as Moscow seeks to shore up the ruble amid a currency crisis.
Chinese Commerce Minister Gao Hucheng says expanding a currency swap between Moscow and Beijing and making increased use of yuan for bilateral trade would significantly aid Russia. Also, Foreign Minister Wang Yi said China will provide help if needed and is confident Russia can overcome its economic difficulties. Russia's currency, the ruble, has lost half of its value against the dollar due to worries over the country's economy, which has been hit by free-falling oil prices and sanctions. China and Russia signed a three-year currency-swap line of 150 billion yuan in October. Beijing is promoting the yuan as an alternative to the dollar for global trade and finance.
o Standard YouTube License
o News & Politics
China Offers To Help Russia...And Wean The World Off The Dollar
Published on Dec 24, 2014
It’s been a tough year for Russia. The sliding ruble, plunging oil prices and economic sanctions have all cut a swathe through the economy. China, Russia’s biggest economic partner is. Think of it as an olive branch filled with yuan leaves. Henry Blodget says this is an example of the changing global economy: “The world is realigning. This is the big picture. China is getting stronger and stronger. Russia is in trouble. ” Don’t tell that to Russian President Vladimir Putin. Putin doesn’t consider his country’s current economic state as a crisis and he remains defiant that the Ruble will bounce back. China and Russia are both trying to decrease dependence on the U S dollar in international trading. In October, the countries agreed on a $24 billion currency swap to strengthen the ruble and make trading easier between the two partners. Perhaps, not looking to offend Putin, Chinese Foreign Minister Wang Yi says they would only help Russia, if they needed it and that he believes Russia has the wherewithal to get out from under its problems. Blodget disagrees and sees some bumpy roads ahead: “You’re going to get destabilization. China and Russia are cozying up. China is playing it both ways. Saying not too much help here and keeping their options open. ”China and Russia both need each other. Earlier this year China signed a 30-year $400 billion deal to buy Russian gas and shore up their energy supplies. Western economic sanctions placed on Russia after its meddling in the Ukraine have also forced the country to import more from China. China’s exports to Russia are up over 10% from last year. Russia’s struggles are also a prime opportunity for China to showcase its economic prowess. China’s buying power and global emergence is altering the global landscape. “This idea that the U S and Europe control the whole world is starting to change,” says Blodget. Look for China to continue to find ways to assert its economic power in the coming year.
o News & Politics
o Standard YouTube License