Preparing for damage to the Petro Dollar
Host James Walton “I Am Liberty”
There are so many different ways to look at the events in Ukraine. Regardless of whose side you are on and for what reason there are some genuine concerns. Coupled with Russia’s reverse sanctions and the increasingly gold backed currency of the Chinese the American dollar has never before seen such pressure.
I can’t even think about writing a paragraph about government spending. The topic is dead and it’s been beaten to death by every commentator on every side of every aisle. Our bad habits have created a climate of fear that amid those who depend on our currency for trade.
Russia has energy and access to it. We have energy too but no one will let us get at it. That being said the leverage is on their side and according to an article by Michael Snyder of www.theeconomiccollapseblog.com states the following:
“Russian press reports that the country’s Ministry of Finance is ready to greenlight a plan to radically increase the role of the Russian ruble in export operations while reducing the share of dollar-denominated transactions. Governmental sources believe that the Russian banking sector is “ready to handle the increased number of ruble-denominated transactions”.
According to the Prime news agency, on April 24th the government organized a special meeting dedicated to finding a solution for getting rid of the US dollar in Russian export operations. Top level experts from the energy sector, banks and governmental agencies were summoned and a number of measures were proposed as a response for American sanctions against Russia.
The “de-dollarization meeting” was chaired by First Deputy Prime Minister of the Russian Federation Igor Shuvalov, proving that Moscow is very serious in its intention to stop using the dollar.”
How do you prepared for this tremendous blow to the petro dollar. We are going to talk about it on I AM Liberty.
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