by Bill Holter, Miles Franklin:
Vladimir Putin spoke last week to Russian diplomats and in my opinion “told it like it really is” whether we like it or not. He said that “the time of U.S. domination has ended and Russia will be reintegrating the Eurasian landmass (former USSR), while promoting better relations with Europe, ‘which is our natural partner’. “ The full story can be found here.
The following is just a sample of what has happened in just the last week alone. Mr. Putin made this speech and also made the statement that the U.S. was trying to “blackmail” France into not doing business with Russia. France signed a yuan swap deal with China followed by the head of France’s central bank saying flat out that the world will be encouraged to diversify away from using the dollar. Also from France, the CEO of energy giant Total said he believes “there is no reason to pay for oil in dollars”. South Korea announced direct trade with China where no dollars will be used. Saudi Arabia, Egypt and Jordan all called troops to defend their borders with Syria and Iraq in anticipation of ISIS turning their sights towards them. The largest bank in Austria revealed that their bad loan portfolio increased by 40%. In the U.S., the big news was the creation of 288,000 “new jobs”. Unless you look under the hood you will not hear that 500,000 full time jobs were lost and 800,000 part time jobs were created. These are all big individual stories and all have something to do with a weakening dollar, a weakening United States and reasons to move away from the dollar.
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