Putin has drafted a bill that would eliminate the use of the U.S. dollar and the euro from trade between and among CIS countries. The CIS countries are: Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova Tajikistan and Uzbekistan.
This is yet another step in eliminating the reserve currency status of the dollar. I’m sure the U.S. won’t take this move by Putin and lightly and I expect to see an escalation in the U.S. media’s anti-Russia propaganda and perhaps renewed escalation in the United States’ meddling in Ukraine.
You can read the entire news release here: RT Business
Between China’s move to start unloading it’s $1.2 trillion hoard of Treasuries and Russia’s overt antagonism toward the dollar, it’s pretty clear that the world’s transition away from a U.S.-centric system is picking up speed.
The biggest risk in my mind is not the societal fallout from the inevitable financial that will accompany the removal of the dollar from global financial system, it’s the destruction to humanity that will occur when the neocon-controlled U.S. Government takes military action to defend the dollar and the power that comes with being the sole-issuer of the world’s reserve currency.