2014-11-04 Cold War 2.0 is a currency war, and the US is losing...
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[Zero Hedge via Pepe Escobar]
The main BRICS (Brazil, Russia, China, South Africa) agenda now is to undermine the position of the US Dollar as the internatinal energy trade and international reserve currency. Absent such status, the future of the US Dollar and the US economy is entirely dubious.
In parallel, the US is at work, trying to undermine the Russian Ruble and the Russian economy.
Both sides have shows some success in their efforts over the past year, as Cold War 2.0 intensified.
The data, provided by a serious and reliable a economic analysis site "Zero Hedge", shows dramatic decline of the "Petrodollar" - dollars involved in trades resulting from energy deals.
With it, it should be noted that while the US is attacking Russia, China is the real power behind Cold War 2.0, but the US does not even dare to act against it, either verbally or otherwise. Russia has become the one catching all the fire...
READ MORE:
How The Petrodollar Quietly Died, And Nobody Noticed
Tyler Durden's pictureSubmitted by Tyler Durden on 11/03/2014 23:42 -0500
http://www.zerohedge.com/news/2014-11-03/how-petrodollar-quietly-died-and-nobody-noticed?fb_action_ids=10152807244081678&fb_action_types=og.likes
======================
[Zero Hedge via Pepe Escobar]
The main BRICS (Brazil, Russia, China, South Africa) agenda now is to undermine the position of the US Dollar as the internatinal energy trade and international reserve currency. Absent such status, the future of the US Dollar and the US economy is entirely dubious.
In parallel, the US is at work, trying to undermine the Russian Ruble and the Russian economy.
Both sides have shows some success in their efforts over the past year, as Cold War 2.0 intensified.
The data, provided by a serious and reliable a economic analysis site "Zero Hedge", shows dramatic decline of the "Petrodollar" - dollars involved in trades resulting from energy deals.
With it, it should be noted that while the US is attacking Russia, China is the real power behind Cold War 2.0, but the US does not even dare to act against it, either verbally or otherwise. Russia has become the one catching all the fire...
READ MORE:
How The Petrodollar Quietly Died, And Nobody Noticed
Tyler Durden's pictureSubmitted by Tyler Durden on 11/03/2014 23:42 -0500
http://www.zerohedge.com/news/2014-11-03/how-petrodollar-quietly-died-and-nobody-noticed?fb_action_ids=10152807244081678&fb_action_types=og.likes
Pepe Escobar likes a link.
Fascinating zerohedge analysis but...
Up next: The Return of the Living (Petrodollar) Dead - which is what the FED has in mind.
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