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Preparing As The USD Nears The Tipping Point
One of the most significant stories to come out this past weekend is the news that Russia and Iran are moving to conduct bilateral trade in Iranian Rial and Russian Ruble instead of the US dollar. Recall that we are also seeing a number of African and Asian countries, including India, opt to conduct more of their international trade using China's Renminbi -- taking away demand for US dollars in the process. This is how it begins -- "it" being the panic out of US dollars. It starts conversely, with a dollar rally; it's fueled by central banks utilizing substitute currencies and international trade being conducted ... (full story)
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