It Begins – Real De-Dollarization as Russia Transfers $100B FRN to Euros and Yuan

It Begins – Real De-Dollarization as Russia Transfers $100B FRN to Euros and Yuan

WOW! Now that’s what one can call true dedollarization. The Russian government is hated by western globalist so-called leaders for two reasons – the Russians are building an economy that is not dependent on the U.S. for anything – dollars, commerce, trade of any kind. The Russian nation is a Christian nation. The satanic globalist elite in the west know and fully understand the power of the name of Jesus Christ  and every Russian from stem-to-stern can, and does, say His name regularly.

The authors of the Bloomberg article quoted below state “Fearing more U.S. sanctions, Russia moved out of dollar“, nothing could be further from the truth. The Russians, at this point, welcome and want more western sanctions. The Russians see sanctions as their jumping off point of what to build out in their economy. If you noticed the western satanic globalist elite haven’t been issuing any new sanctions since the Russians invited all the white South African, Christian, farmers to Russia to help them build out their organic and NonGMO food crops. Crickets since that happened.

It’s also interesting the information below, while reported originally on January 9, 2019, it was reported by the Russian government at the end of quarters 1 and 2 in 2018. hmmmm – why the delay in reporting this vital piece of information? I call it vital because the western globalist satanic presstitutes continually tell us the Russia economy is suffering while the American economy is booming. The fact that Russia can make this type of currency swap and not miss a beat speaks in volume to the strength of their economy.

  • Central bank moves reserves to euros, yuan in broad shift
  • Fearing more U.S. sanctions, Russia moved out of dollar

Russia’s central bank dumped $101 billion in U.S. holdings from its huge reserves, shifting into euros and yuan last spring amid a new round of U.S. sanctions.

The central bank moved the equivalent of $44 billion each into the European and Chinese currencies in the second quarter, according to a report published on late Wednesday by the Bank of Russia, which discloses the data with a six-month lag. Another $21 billion was invested in the Japanese yen.

The Chinese currency accounted for 15 percent of total holdings at the last reading, up from 5 percent at the end of the first quarter, according to the report. That puts Russia’s yuan share at about ten times the average for global central banks, with its total holdings of the currency accounting for about a quarter of world reserves in yuan, according to International Monetary Fund data. Morgan Stanley estimated Russia was the main buyer of Chinese bonds last year. Source

This is the first significant move by any nation to transfer from the reserve currency, Federal Reserve Note, to another currency to rebalance their national reserves. It is not surprising that it’s Russia, but this will not be the only nation within the G20 of nations to do so.

“We aren’t ditching the dollar, the dollar is ditching us,” Russian President Vladimir Putin said in November. “The instability of dollar payments is creating a desire for many global economies to find alternative reserve currencies and create settlement systems independent of the dollar. We’re not the only ones doing it, believe me.”

The central bank data show Russia also cut the share of its reserves held in the U.S. to just 10 percent of the total from 29 percent at the end of March, suggesting some of the remaining dollar assets are now held in other countries. This aligns with data compiled by the U.S. Treasury, which shows an increase in American bond holdings in Belgium and the Cayman Islands last year. Source

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The Daily Coin

Rory Hall, The Daily Coin and Gospel News Network. Beginning in 1987 Rory has written over 1,400 articles and produced more than 500 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Gold Seek, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Dr. Warren Coates and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Gospel News Network to enjoy some of the best economic, precious metals, geopolitical and preparedness news from around the world.