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Home>Coins dealers headline>Moscow and Beijing join forces to bypass US dollar in world money market

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Moscow and Beijing join forces to bypass US dollar in world money market

IMG Auteur

USA Gold

Published : April 04th, 2017

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	South China Morning Post/Wendy Wu/04-02-17 Russia’s central bank opened its first overseas office in Beijing on Thursday, marking a small step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system. It was part of agreements made between the two neighbours to seek stronger economic ties since the West brought in sanctions against Russia over the Ukraine crisis and the oil-price slump hit the Russian economy. PG View: ZeroHedge reports that the plan is to “phase-in a gold-backed standard of trade.” Such a move would be very positive for gold. If Russia – the world’s fourth largest gold producer after China, Japan and the US – is indeed set to become a major supplier of gold to China, the probability of a scenario hinted by many over the years, namely that Beijing is preparing to eventually unroll a gold-backed currency, increases by orders of magnitude. — ZeroHedge

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Data and Statistics for these countries : China | Georgia | Japan | Russia | Ukraine | All

Gold and Silver Prices for these countries : China | Georgia | Japan | Russia | Ukraine | All

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