Israel Dumps The Dollar For China's Renminbi, Beijing Starts Quietly Acquiring Russian Energy Assets
The bedrock of the global monetary system continues to shift, including two profound pieces of news over the last 24 hours that no one seems to have noticed.
Over the last 48 hours, China and Russia have taken big steps toward separating themselves from the monetary policy and economies of the west – and nobody has even noticed.
Those who have been reading my blog for the last couple of weeks know that I have been predicting that China and Russia would grow far closer economically, creating, in essence, a second global monetary system where the US dollar is no longer the reserve currency.
A few weeks ago, I wrote an article proclaiming that Russia would back the ruble with gold as a way to fight back against western economic sanctions. I also made similar predictions about the new digital Chinese currency last summer when I first started Fringe Finance.
https://www.zerohedge.com/markets/israel-dumps-dollar-chinas-renminbi