[43] Sino-Japanese trade had a value of US $300 billion. In line with the above notion, commodity prices and equity valuations have often been at odds with one another in past market cycles. The Russian leader added, We support using Chinese yuan in transactions between the Russian Federation and its partners in Asia, Africa and Latin America. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); The EU sanctioned Russia and boycotted its oil, yet is still buying it indirectly from India, at a higher price. Which countries are dumping the dollar and why? - RT Even US ally India is hedging its bets on de-dollarization. Before the end of this year USA inflation would reach 10% if not more. These Countries Are Quickly and Quietly Dumping the Dollar Once the new system is in place, our dollar won't be needed in these countries and a new reserve currency will come into being. The country entered the war only in 1917 and emerged far stronger than its European counterparts. Save my name, email, and website in this browser for the next time I comment. US dollar: Russia, China, EU are motivated to shift away from USD - CNBC Barbados. Dedollarisation refers to countries reducing reliance on the U.S. dollar as a reserve currency, medium of exchange or as a unit of account. Iran, which is sanctioned by the US, is also carrying out trade with Russia and China in the local currency. We should continue promoting settlements in national currencies, and expand the reciprocal presence of financial and banking structures in our countries markets. Reliable source this story is .when there no author to a story its bs . just let me know when the world plans all this thermo-nuclear stuff that way me and my dogs can hop on the closest flight outta here. North American countries Canada, the U.S., and Mexico round out the top six gold producers, collectively making up 16% of the global total. Prices just dropped on gold and silver. World reserve currencies have always had a limited life span and ours is up. Since China is by far the largest holder of US dollar reserves, this looks like the beginning of the end of the US dollar as the world's reserve currency. Turning to this past year, once we account for the impact of exchange rate movements (orange line), we see that the US dollars share in reserves held broadly steady. A few countries, such as Russia, have already announced their intention to do so. Printing money just like Zambia..it went down. [73], After a year of the RTGS Dollar having been the only legal tender,[74] Zimbabwe adopted dollarization due to hyperinflation. The United States Department of the Treasury exercises considerable oversight over the SWIFT financial transfers network,[4] and consequently has a huge sway on the global financial transactions systems, with the ability to impose sanctions on foreign entities and individuals. PS. LOOK; DID YOU MISS IT? Anyone here as long as we are not American Indians will not be accepted as Americans you cannot steal yourself to be Americans and with this money swap the chicken is gonna come to rouse if the dollars drop god bless us here the future for non-indians especially whites, blacks will be the judge then Mexico would be richer than us they may kick our ass out and reclaim their land this is a very serious issue. Exactly you dont know because you fail to understand once one nuke is launched the rest of the world would follow suit and in the end 6-7 billion people are dead, and the ones who survive will likely die from radiation poisoning, and starvation. In recent months, Brazil and Argentina have discussed the creation of a common currency for the two largest economies in South America. Top 5 countries opting to ditch US dollar & the reasons behind their It is followed by the Euro as well as the British Pound which are also used globally.