That Russia is considering replacing the US dollar with Bitcoin (Press 15/1) is only one way of countering the declining US dollar as the world's reserve currency and has nothing to do with sanctions. Sanctions in fact have had the opposite effect and failed to harm the Russian economy, which on the contrary has surged by more than ten percent over the last year. In 2018 Russian trade with China has increased to more than 107 billion dollars. Increasingly more countries among which India, South Africa, Venezuela and Iran are now trading in either their own or alternative currencies. The Chinese yuan (renminbi) is expected to replace the US dollar within years from now.
Tom Van Meurs
15 January 2019
Tom Van Meurs
15 January 2019
