After facing secondary sanctions over a weapons pact with Russia, India and Russia decided to arrange payments through the rupee-ruble exchange in 2014. Faced with a similar situation in the present, it is going to be interesting to see how India and Russia plan to bypass the dollar.
According to media sources, India is looking for effective means to get over the recent sanctions placed on Russia over the Ukraine crisis in order to preserve commerce with Moscow.
Trying to make settlements through foreign financial organizations that do not conduct business in nations that have backed the retaliatory sanctions against Russia, reconfiguring payments through minor Russian lending institutions undamaged by the SWIFT restriction, and bolstering its rupee-ruble agreement in place were amongst the alternatives reportedly being deemed.
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If Russia, China and India (along with other smaller countries) bypass the Biden led sanctions against Russia, our status as the world’s reserve currency is over. And just like that, our dollar is worthless and our debts will be called in.
Do you understand what that means?
David DeGerolamo
Who is John Galt?
Trade should not be constrained or in anyway interfered with by kleptocrat free market despising governments like America and the EU countries. America and it’s largest corporations and banks are now the largest impediments to free trade. Where there is freed trade based on contracts and covenants relationships are developed between businesses and people that result in trust and lower prices. Only dying empires and corrupt tyrannical governments and their pull pushing political class desire to stop free trade. Looking at you America, Australia, EU, Japan, New Zealand and Israel. Who is John Galt? TEXIT!
“If Russia, China, and India….” The operant word here is: “If”. I have been reading about “Ifs” for many years in the hope that someone, somewhere will do something to bring down this corrupt, syphilitic-thinking country and administer a chastisement which is long overdue. I hope the author of this article is correct. I will not, however, hold my breath. Bleib ubrig.
I can hear Johnny Cash singing “God’s gonna cut you down”
Indeed. the Petro Dolla party is over…
Strange days have indeed found us…
I try to explain to regular people what’s coming, but they don’t have the ability to comprehend. I tell them their standard of living might be coming to an end any day now. It’s too much for them to accept.
And not one person in 10 understands inflation or can absorb the magnitude of it even when it is explained.
Global American Empire Getting Woke, Going Broke – Men Of The West They have just about finished gutting the former constitutional republic.