China And Russia Replace US Dollar As Reserve Currency

The Event Is Coming Soon - China And Russia Replace US Dollar As Reserve Currency Two years ago, ICBC, the largest and most valuable bank in the world by total assets and market capitalization, was planning to open a clearing bank in Russia for trade settlements in Yuan (Renminbi) and Rubles. ICBC’s business involvement include electricity, mining, chemical, oil and gas, telecommunication, retail, machinery and metallurgy sector in Russia. It makes perfect sense to get rid of US dollar. Why must China and Russia conduct their business transactions using their rival’s currency? The US dollar is so strong because 80% of world trade take place in US dollar. Besides military might and power, the high demand for US dollar is also driven by perception that it’s the safest currency simply because US is also the world’s biggest economy. Last month, China and Russia decided to break their dependency on US dollar in their bilateral trade and investment. Bank of Russia, the Russia’s central bank, opened its first overseas office in Beijing on March 14. A week later, ICBC (Industrial and Commercial Bank of China) officially opens for business in Moscow – as a clearing bank for Yuan / Renminbi. “Financial regulatory authorities of China and Russia have signed a series of major agreements Source: https://needtoknow.news/2017/04/china-russia-replace-us-dollar-reserve-currency/ Visit our sister channel EVENT IS COMING SOON https://www.youtube.com/channel/UCJcmcStuyZVEkQheqINZjBA Please enter our Subscriber Appreciation Monthly Giveaway - Enter Here: http://theeventiscomingsoon.com/our-youtube-cash-giveaway Please visit our Playlist for additional intel: The Event Intel https://www.youtube.com/playlist?list=PLZX49q1VM8O0p0XzU10aCLsSS92iTVQeg Disclosure https://www.youtube.com/playlist?list=PLZX49q1VM8O0C40VKZcQt-GRdpRaUy4lh Politics https://www.youtube.com/playlist?list=PLZX49q1VM8O0wTVaYupBh1Rq17yto_52t Newest Videos https://www.youtube.com/playlist?list=PLZX49q1VM8O0c5ifCAZSE3J0pRR9BcgUI The Event Is Coming Soon https://www.youtube.com/channel/UCNdcqCdkJ-EFv0IEU79MDUA https://youtu.be/oP_BwJqzbnU SUPPORT US USING OUR LINKS! ----------------------------------------------------- http://theeventiscomingsoon.com http://twitter.com/eventcomingsoon Copyright Disclaimer: Citation of articles and authors in this report does not imply ownership. Works and images presented here fall under Fair Use Section 107 and are used for commentary on globally significant newsworthy events. Under Section 107 of the Copyright Act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. ----------------------------------------------------------- MAKE DONATIONS HERE http://theeventiscomingsoon.com/donation -----------------------------------------------------------

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1. Thank you for WAKING US UP!