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Sunday, 11/30/2014 12:14:30 AM

Sunday, November 30, 2014 12:14:30 AM

Post# of 63744
Petrodollar on it last legs:
http://www.gold-eagle.com/article/grandmaster-putins-golden-trap

The Western world has never faced such economic events and phenomena that are happening right now. The former USSR rapidly sold gold during the fall of oil prices. Today, Russia rapidly buys gold during the fall in oil prices. Thus, Russia poses a real threat to the American model of petrodollar world domination.

The main principle of world petrodollar model is allowing Western countries led by the United States to live at the expense of the labor and resources of other countries…based on the role of the US currency, dominant in the global monetary system (GMS) . The role of the US dollar in the GMS is that it is the ultimate means of payment. This means that the national currency of the United States in the structure of the GMS is the ultimate asset accumulator, to exchange which to any other asset does not make sense.

Led by Russia and China, what the BRICS are doing now is actually changing the role and status of the US dollar in the global monetary system. From the ultimate means of payment and asset accumulation, the national currency of the USA, by the joint actions of Moscow and Beijing is turned into only an intermediate means of payment. Intended only to exchange this interim payment for another and the ultimate financial asset - gold. Thus, the US dollar actually loses its role as the ultimate means of payment and asset accumulation, yielding both of those roles to another recognized, denationalized and depoliticized monetary asset – GOLD!

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