- The word on the street: is that the Saudis are about to announce the acceptance of non US dollar for all oil purchases. OPEC countries will follow suit. This will be the official ‘tectonic’ event to mark the death of the petrodollar. Watch as war spreads to the whole of the Middle East, engulfing all OPEC countries which have signed on to non US dollar oil trade! It is about the global currency hegemony of the western Illuminati.
- Russian companies prepare to pay for trade in renminbi!
by Jack Farchy and Kathrin Hille, http://www.cnbc.com/
Russian companies are preparing to switch contracts to renminbi and other Asian currencies amid fears that western sanctions may freeze them out of the US dollar market, according to two top bankers.
“Over the last few weeks there has been a significant interest in the market from large Russian corporations to start using various products in renminbi and other Asian currencies and to set up accounts in Asian locations,” Pavel Teplukhin, head of Deutsche Bank in Russia, told the Financial Times.
Andrei Kostin, chief executive of state bank VTB, said that expanding the use of non-dollar currencies was one of the bank’s “main tasks”.
“Given the extent of our bilateral trade with China, developing the use of settlements in roubles and yuan [renminbi] is a priority on the agenda, and so we are working on it now,” he told Russia’s President Vladimir Putin during a briefing. “Since May, we have been carrying out this work.”