Who is dumping US dollars?
Here is a perspective on the size of reserves held by BRIC coutries and Japan versus US and EU. Notice the reserves of Libya before EU and the US helped themselves to the reserves, The size of Libyan foreign reserves explains the true reason of the war and the subsequent invasion.
Over the past few months financial media reported:
- World's Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade (Source: Bloomberg)
- China, Russia Drop Dollar In Bilateral Trade (Source: Bloomberg, FT, China Daily)
- China And Iran To Bypass Dollar, Plan Oil Barter System (Source: FT)
- India and Japan sign new $15bn currency swap agreement (Source: BBC)
- Iran, Russia Replace Dollar With Rial, Ruble in Trade (Source: Bloomberg)
- India and Iran have agreed to settle some of their $12 billion annual oil trade in rupees (Source: Reuters)
The result: Japan, China, Russia, India and Iran will avoid US dollar, Russia dumped half of the US Treauries during 2011 and continues to dump them fast as they can. Look at the table below and calculate the amount of wealth that refuses to accept bankr upt US and Obamanomics, dump US dollars and "ameros" for "chindirujas" [Ch-ind-i-ru-ja].