China and Russia Grow Closer

Peter's Commentary There is a definite hardening of attitudes between the West and Russia. Russia is no longer part of the G8 (now the G7). Sanctions have been imposed on Russia by the West. Russia is taking significant steps to become much closer to China. Deals either agreed so far, or being worked on include: An oil pipeline A major seaport An alternative to the SWIFT system for … [Read more...]

De-Dollarization Continues – Argentina and China agree to Currency Swap

Peter's Commentary There is a large trend towards US de-dollarization occurring. More and more countries are bypassing the dollar. Argentina has just agreed with China's central bank to receive the first tranche of a multi billion currency swap before the end of this year. According to Reuters: The swap will allow¬†Argentina¬†to bolster its foreign reserves or pay for Chinese imports … [Read more...]