by Bill Holter, Miles Franklin:
I can’t believe my timing! I wrote my piece “Two Separate Topics” yesterday and finished it by saying “they don’t need us, we need them” and that I would elaborate on it. Lo and behold, Zero Hedge posted an article, Russia Holds “De-Dollarization Meeting”: China, Iran Willing To Drop USD From Bilateral Trade. Russia announced publicly late yesterday that they plan to “de dollarize” their trade! Yes I know who cares because Russia is an economic basket case that has a very small slice of global trade right? Wrong!
Next Tuesday, Vladimir Putin will meet with Chinese President Xi Jinping, I believe that the odds are quite high that an energy deal will be announced where Russia will supply China with oil and gas and that infrastructure (pipelines) will also be built to the express exclusion of the dollar. Please understand that this is not a deal where a few million barrels of oil are sent and then get settled for, no, this will be a very long term partnership which is why the infrastructure will be built.
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