Dollar Disaster Looms? China and Russian Currencies Break Away

‘Russia leaves the Dollar based monetary system and adopts a system of Sovereign Currency. The implications are phenomenal! In 1990 the first priority of Washington and the IMF was to pressure Yeltsin and the Duma to privatize the State Bank of Russia, under a Constitutional amendment that mandated the new Central Bank of Russia, like the Federal Reserve or European Central Bank, be a purely monetarist entity whose only mandate is to control inflation and stabilize the Ruble. In effect, money creation in Russia was removed from state sovereignty and tied to the US dollar.’
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