Originally published at: Russia and China Rapidly Dumping US Dollar | Infostormer.com
Russia and China are rapidly dumping the US Dollar.
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From Moscow, here's @DimitriASimes on how Russia and China are drastically — and rapidly — reducing their dependence on the US dollar.https://t.co/aqJNYPgDqC
— Nikkei Asian Review (@NAR) August 8, 2020
Both countries have been decreasing their US Dollar holdings in recent years, but this reduction has escalated in 2019 and into 2020.
While de-dollarisation as a global concept has proved to be illusory, #Russia and #China's trade in the post-2014 period has become demonstrably less dependent on the US dollar.
This chart provides evidence for that trend. pic.twitter.com/3w6X8IQRxn
— Samuel Ramani (@SamRamani2) August 7, 2020
What we are basically seeing here is the end of the US Dollar as the world’s reserve currency.
Because of this insane virus hoax and the subsequent closure of the economy, the Federal Reserve has created trillions of new US Dollars to temporarily prop everything up. So while there is all this new currency being pumped into the system, America’s Gross Domestic Product shrunk by one third last quarter.
This is effectively making the currency far less valuable and as major countries like Russia and China use less of it, we are also seeing a reduction in demand for the currency. This is a perfect storm which increases the likelihood of the dollar going into hyperinflation.
This is a major part of the reason why gold is now over $2,000 and why food costs are going through the roof.
I honestly don’t see how we can avoid some type of currency collapse. And when that collapse happens we can only guess what they will try to replace it with. But it could be anything from a global digital currency to some type of evil Mark of the Beast shit. Either way, I would not want the majority of my wealth stored in dollars right now.