Russia, China, and Iran Join Forces to Bring Down the US Dollar

by , from the AntiMedia

It is becoming increasingly more common for the corporate media to pay attention to the dollar’s dying status as the world reserve currency. The media can no longer realistically ignore developments that ultimately chip away at the dollar piece by piece considering Russia, China, and Iran have become brazen about their intentions to erode the dominant currency in the not-too-distant future.

While Anti-Media has documented the decline of the dollar throughout the course of the year as a result of a number of significant geopolitical decisions, there is still one major elephant in the room that needs to be addressed. Once it is, it should shed some light on just how detrimental these recent developments are to America’s status as the global authority.

Just last week, it was reported that Russia and China would be seeking to link their national payment systems to counter rival Western alternatives.

“I think that the more financial instruments there are in the modern world, the more stable the global financial system will be,” Russian Prime Minister Dmitry Medvedev said at an event in Beijing. “The world needs a balanced system of financial relations, based on the use of different reserve currencies for different transactions. There should not be dominance by any single currency.”

At around the same time, Iran was urging similar action in a meeting with Russian President Vladimir Putin…

[read more here]

One Response

  1. That other countries will trade using other currencies was inevitable. That doesn’t mean anything like ‘bringing down the dollar’. It just means less interest, fees and commissions for Wall St on external trade.
    The article makes a fair point in that it will make it more difficult for Washington to enforce economic sanctions against their targets.

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