Russia Sanctions And The Dollar World Reserve Currency: Avalanches Begin As Snowflakes!

• Russia Sanctions And The Dollar World Reserve Currency: Avalanches Begin As Snowflakes! 
  by Ken Jorgustin, http://modernsurvivalblog.com/ 
  While Russia does what the US has always done with regards to their threatened national interests (e.g. the petrodollar, oil-gas), the situation in Ukraine is ratcheting up as the West continues escalating sanctions against Russia who is responding with their own ‘tit-for-tat’ moves and counter-moves, a very dangerous game being played by world super powers.
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  Ukraine has been in the news for weeks and weeks as the metaphorical snowflakes have been piling up on the slopes. The question is, when will the slope suddenly and violently give way into a roaring avalanche? And if it does, are you prepared for the consequences?
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  What could possibly go wrong?
  In this situation, Russia and China have become ‘friends’. Russia’s foreign ministry recently announced that China is largely “in agreement” with them on Ukraine. Russian Foreign Minister Sergei Lavrov reportedly discussed the situation with his Chinese counterpart, Wang Yi, and claimed they had “broadly coinciding points of view.” China refused to vote in favor of sanctions against Russia.
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  While the mainstream media focus is on the conflict between Russia and Ukraine, they are ignoring the possibility of disastrous economic consequences from this avalanche in the making.
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  What about the status of the U.S. dollar as the world’s reserve currency? Is there growing doubt about the viability or necessity of the US dollar as an intermediary for foreign exchange of goods?
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  For example, the chief economist of Russia’s largest bank recently said the Chinese yuan could become an additional world reserve currency with the US dollar and the euro. Did you know that China has been buying up massive quantities of gold? Perhaps as a ‘backing’ for future currency endeavors on the world stage?
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  It is not beyond the realm of possibility that we might see other countries teaming up with Russia and China looking for some revenge against the U.S. and looking to hurt the dollar.
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  There are signs such as Iran and Russia strengthening their ties. Iran’s Mehr news agency recently stated the need for “further expansion of economic ties between Tehran and Moscow, particularly in the energy and commerce spheres,”
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  For example, Moscow has recently been discussing the trade of 500,000 barrels a day of Iranian oil for Russian goods with Tehran – a deal reportedly worth as much as $20 billion.
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  Another example, the governments of Bahrain and Russia have signed a deal to cooperate on investments, and Bahrain’s decision “suggests Western sanctions may not deter other countries from continuing to expand business ties with Russia,” (reuters.com).
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  More snowflakes are piling up.
  While the fiat dollar ‘may’ remain a reserve currency for the foreseeable near future, its status could very conceivably be hurt or diminished – for more reasons than one.
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  read more!

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