Russia intensifies its De-Dollarization #dedolarization -- Death of The Dollar

A new report suggests Russia has been considerably successful in its pledge to remove the US dollar from trade with others, adding that the greenback has been replaced by local currencies in nearly half of Moscow’s transactions with leading partners India and China. The report said that Russia had been paid back in its national currency ruble in more than 75 percent of its exports to India as of the end of the first quarter of 2019. Russia’s trade settlements with China was also shifting toward a pattern of using currencies other than the US dollar, adding that rubles and euros were now the dominant means of such settlements with Beijing. It added that the share of the US dollar in Russia’s settlements with India and China had reduced from more than 87 percent in the first three months of 2018 to less than 48 percent in the similar period this year. Russia’s success in de-dollarizing the economy comes as the greenback has traditionally dominated Moscow’s trade with leading partners. The report said that the use of local currencies instead of the dollar in Russia’s trade with other countries had quadrupled in early 2019 compared to the same period last year. It also added that Russia was moving quickly to ditch the dollar from trade with the European Union countries. The report comes against the backdrop of efforts by Russia to make its economy immune from the impacts of sanctions and punitive measures adopted by Trump . Russia and countries like China, Iran and Venezuela, who have suffered from US sanctions, have repeatedly declared that they want to fully ditch the greenback from their economic interactions with the rest of the world. Last year a huge bombshell dropped after a $5.4 billion deal for Indian to acquire the S-400 systems from Russia was clinched during Putins two-day visit to the country in early October 2018 . The contract was settled in rubles as part of Moscow's broader policy and pursuit of de-dollarization of the Russian economy. Its a one-two punch in the face for the U.S. If the U.S. had the best missile technology, then India would be buying from the U.S. instead, and wouldn't need to worry about what they are able to purchase with their dollars. However, Russia has surpassed the U.S. in missile technology. So, naturally, military arms customers, such as India, would want the best for their money. And, in order to buy what they need, they would want their money to be liquid, without fears of repercussions, like sanctions, or restrictive actions from the U.S. So, the Russian ruble or the Chinese yuan, would be the obvious alternatives, and there is not a thing the U.S. can do about it, except throw temper-tantrums. Now,if Russia "rublized" the arms import-export trade, much like what the U.S. did to dollarize the oil trade, the U.S. would be in deep trouble, because the #1 export product that keeps the U.S. economic buoyed up is in military sales. Trading between the BRICS countries has surged 30%, according to reports and is now the engine of growth in the global economy. What this means is that the bulk of the economy and the system that facilitates the global exchange of goods and commodities is now in the hands of multilateral entities that are outside of the control of the American banks . The US Dollar Reserve was weaponized by Obama and Trump with sanctions. This posed A NATIONAL SECURITY RISK FOR ALL OTHER NATIONS OF THE WORLD. The US Dollar is now slowly being removed as the reserve and trade currency. The Russians are de-dollarizing because they realize , as JP Morgan realized, that "gold is money and nothing else!"







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