China and Russia have decided to renounce the U.S. dollar!!

Now Playing: China and Russia have decided to renounce the U.S. dollar!!

Description: As of Tuesday 23 2010, China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced. A sudden dollar collapse will create global economic turmoil as investors rush to other currencies or other assets, such as gold or other commodities. Demand for Treasuries will plummet, driving up interest rates. Import prices will skyrocket, causing inflation.RUSSIA AND CHINA RENOUNCE THE US DOLLARhttp://www.sodahead.com/united-states...
Tags: inflation rates gold silver economy trading demand in the US economic collapse nwo federal reserve unemployment depression civil unrest mutual funds assets liquid
Added: 06-12-10 Views: (560)
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