As one of the largest oil producers, Russia is close to taking the next big step towards de-dollarization and killing the petro-dollar. Step-by-step, Russia, China, and other emerging economies are taking measures to reduce their exposure to the U.S. dollar. By selling oil in Rubles, and not dollars, this could be a deciding blow to the “petrodollar’s” dominance.
The Fed’s Signal
The Fed is now actively protecting the criminal Too-Big-For-Jail banks by creating a new rule that will prevent the counter-parties, from taking their collateral away when the bank is collapsing. It is easy to see how this “collateral freeze” regulation will eventually morph into a de facto bail-in mechanism. In short, depositors will get virtually nothing when the next banking crisis hits.
Before the 20th century, the average person would only go to the hospital as a…
View original post 340 more words