India Makes Request to Abandon PetroDollar

India Makes Request to Abandon PetroDollar by Rory for The Daily Coin

The noose continues to tighten on the Federal Reserve Note, U.S. dollar as India has made a formal request to use the new special payment mechanism, called INSTEX for future payments of oil from Iran. This is another step in the world de-dollarizing and moving away from trade with the U.S.. Of course the satanic globalist will say this is President Trumps fault when it is in fact the satanic globalist fault for overplaying their hand since 1973 when Kissinger first introduced the petrodollar to the world.

This is just the latest move by another nation to de-dollarize and provide their own nations best interest. This would be called “India First” by the citizens of India. What is best for their nation are the policies politicians should be pursuing. Not that India’s politicians care two-cents about the citizens but this illustrates what President Trump is always attempting to do – put our nation above all else – which is his job.

“Some countries have held talks with the Europeans and have expressed their readiness to use the mechanism after it is implemented,” Iran Foreign Ministry Spokesman Bahram Qasemi said during a press conference on Tuesday.

“India is one of those countries,” added Qasemi who went to say that “they are interested in using the mechanism and have expressed their request.”

Germany, France and the UK announced on January 31 the creation of INSTEX (Instrument in Support of Trade Exchange) as a payment channel with Iran that will allow the export of European pharmaceuticals, medical devices and agri-foods to Tehran.

Qasemi noted that details of the implementation of INSTEX are being discussed between the European trio, Iran and other countries. “Should the channel work favourably, there’s a possibility that other countries also make use of it,” he added.

The diplomat expressed hope that “Europe and the three EU member-states will be able to implement their obligations in the wake of US withdrawal so that we can be in a better position to talk about the JCPOA’s life’.  Source – IRNA.ir

India is wasting no time to make the switch and leave the petrodollar behind. With this new global instrument of account coming online on January 31 the Indian nation makes it clear they want Iranian oil and are not concerned with U.S. sanctions.

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 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, Silver Doctors, 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, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.