{"id":46771,"date":"2019-06-19T17:54:01","date_gmt":"2019-06-19T22:54:01","guid":{"rendered":"https:\/\/olduvai.ca\/?p=46771"},"modified":"2019-06-19T17:54:06","modified_gmt":"2019-06-19T22:54:06","slug":"46771","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=46771","title":{"rendered":""},"content":{"rendered":"\n<h1 class=\"wp-block-heading\">&#8220;The Dollar Is Becoming Toxic&#8221; &#8211; Russian Intel Chief Slams &#8220;Aggressive, Unpredictable&#8221; US Behavior<\/h1>\n\n\n\n<p>With the latest TIC data showing China following Russia&#8217;s lead and reducing its US Treasury exposure (to two-year lows), as it increases its gold reserves (for six straight months), the unipolar US hegemon faces an ugly trend among the &#8216;rest of the world&#8217; attempting to de-dollarize, as&nbsp;<strong>Sergey Naryshkin, &nbsp;director of the Russian Foreign Intelligence Service, calls the US dollar is an anachronism of the modern world economy.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2019-06-19_6-15-22.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p>Countries across the globe, including Russia, China, India, and others, have been<strong>&nbsp;working to diversify their foreign reserves away from the greenback.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/bfm348C_0.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p>Kyle Bass Sees Hong Kong Politics &#8216;Speeding Up&#8217; Pressure on Dollar Peg<\/p>\n\n\n\n<p>And,&nbsp;<a href=\"https:\/\/www.rt.com\/business\/462194-dollar-becoming-toxic-russia\/\">as RT reports,<\/a>&nbsp;the head of the Russian intelligence service has now voiced those concerns clearly &#8211; that<strong>&nbsp;the use of the dollar presents risks and more nations are looking into finding alternative tools for doing business<\/strong>.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em>&#8220;It&nbsp;<strong>seems abnormal that the United States, behaving so aggressively and unpredictably,<\/strong>&nbsp;continues to be the holder of the main reserve currency.\u201d<\/em><\/p><p><em>\u201cDue to the objective strengthening of multipolarity, the monopoly position of the dollar in international economic relations becomes anachronistic.&nbsp;<strong>Gradually, the dollar is becoming toxic.<\/strong>\u201d<\/em><\/p><\/blockquote>\n\n\n\n<p><em>And it&#8217;s not just talk,&nbsp;<a href=\"https:\/\/www.rt.com\/business\/462194-dollar-becoming-toxic-russia\/\">as RT notes<\/a>,&nbsp;<\/em><strong>Russia has taken concrete steps towards de-dollarizing the economy.<\/strong>&nbsp;So far, Moscow has managed to partially phase out the dollar from its exports, signing currency-swap agreements with a number of countries, including China, India, and Iran. Russia has recently proposed using the euro instead of the US dollar in trade with the European Union.<\/p>\n\n\n\n<p>This comes on the heels of\u00a0<a href=\"https:\/\/www.rt.com\/business\/461593-shiny-gold-dollar-bubble\/\">Malaysian Prime Minister Dr. Mahathir Mohamad proposing a gold-backed currency<\/a>\u00a0as a unit of account for trade between East Asian nations.<\/p>\n\n\n\n<p>Infinite growth on a finite planet, what could possibly go&nbsp;wrong?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The Dollar Is Becoming Toxic&#8221; &#8211; Russian Intel Chief Slams &#8220;Aggressive, Unpredictable&#8221; US Behavior With the latest TIC data showing China following Russia&#8217;s lead and reducing its US Treasury exposure (to two-year lows), as it increases its gold reserves (for six straight months), the unipolar US hegemon faces an ugly trend among the &#8216;rest of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[130,1865,679,4318],"class_list":["post-46771","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-china","tag-gold-reserves","tag-reserve-currency","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46771"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46771\/revisions"}],"predecessor-version":[{"id":46772,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46771\/revisions\/46772"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}