PUTIN SAYS DUMP THE DOLLAR - Drafts a Bill to Eliminate US Dollar & Euro Trade Between CIS Countries
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PUTIN SAYS
DUMP THE
DOLLAR - Drafts a
Bill to Eliminate US
Dollar &
Euro Trade Between
CIS Countries
Russian President Vladimir Putin has drafted a bill that aims to eliminate the
US dollar and the euro from trade between
CIS countries.
This means the creation of a single financial market between
Russia,
Armenia,
Belarus,
Kazakhstan,
Kyrgyzstan,
Tajikistan and other countries of the former
Soviet Union.
“This would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets”, said a statement from Kremlin.
The bill would also help to facilitate trade in the region and help to achieve macro-economic stability
Within the framework of the
Eurasian Economic Union (
EEU) the countries have also discussed the possibility of switching to national currencies. According to the agreement between Russia, Belarus, Armenia and Kazakhstan, an obligatory transition to settlements in the national currencies (
Russian ruble,
Belarusian ruble, dram and tenge respectively) must occur in 2025-2030.
Today, some 50 percent of turnover in the EEU is in dollars and euro, which increases the dependence of the union on countries issuing those currencies.
Outside the CIS and EEU, Russia and
China have been trying to curtail the dollar’s dominance as well.
In August,
China’s central bank put the Russian ruble into circulation in
Suifenhe City,
Heilongjiang Province, launching a pilot two-currency (ruble and yuan) program. The ruble was introduced in place of the US dollar. russia usa u.s. "united states" putin dollar usd "u.s. dollar" trade CIS banking finance "bank account" currency "forex trading" trade trading markets deal
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In 2014, the
Russian Central Bank and the
People’s Bank of China signed a three-year currency swap agreement, worth
150 billion yuan (around $23.5 billion), thus boosting financial cooperation between the two countries.
Peter Schiff, economist, best-selling author, and
CEO of
Euro Pacific Capital, believes a
U.S. dollar crisis is underway. Expert:
Weeks Till Global Collapse In fact, the mainstream spin machine is going into high speed the more negative data is exposed and absorbed into the markets. If you know your history, then you know that this is a common tactic by the establishment elite to string the public along with false hopes so that they do not prepare or take alternative measures while the system crumbles around their ears. At the onset of the
Great Depression the same strategies were used.
Consider if you’ve heard similar quotes to these in the mainstream news over the past couple months:
The Crisis Was Caused By
Chinese Contagion Don’t count on it.
Public statements by globalist entities like the
IMF on China, for example, have argued that their current crisis is merely part of the “new normal”; a future in which stagnant growth and reduced living standards is the way things are supposed to be. I expect the Fed will use the same exact argument to support the end of zero interest rates in the
U.S., claiming that the decline of
American wealth and living standards is a natural part of the new economic world order we are entering. Historically, when a nation’s debt exceeds its ability to repay even the interest, it can be assumed that the currency will collapse. Typically, governments exacerbate the situation by printing large amounts of currency notes in an effort to inflate the problem away, or at least postpone it.
The European Union agreed Wednesday to a second extension of sanctions against
Russian firms and individuals and
Ukrainian separatists, for another six months, until
March 2016. On the same day, the
United States added 29 more individuals to its sanctions list against Russia, Reuters reported. Roskomnadzor, Russia’s communications watchdog, finds itself in a very strange situation for the second time.
First, the agency attempted unsuccessfully to block
Wikipedia from working in Russia, and now
Facebook has rejected its demand to transfer the personal data of its Russian users onto Russian territory, putting
Moscow regulators in a very awkward position.