AP News: The leaders of Russia and China pushed back against U.S. pressure on Friday, declaring their opposition to any expansion of NATO and affirming that the island of Taiwan is a part of China, as they met hours before the Winter Olympics kicked off in Beijing.
Russia’s Vladimir Putin and China’s Xi Jinping issued a joint statement highlighting what they called “interference in the internal affairs” of other states, as both leaders face criticism from Washington over their foreign and domestic policies.
“Some forces representing a minority on the world stage continue to advocate unilateral approaches to resolving international problems and resort to military policy,” it read, in a thinly veiled reference to the U.S. and its allies. Read More …
Opinion: Take a close look at the picture above. These 2 men are pulling the strings of the whole world. From Ukraine to Iran to Taiwan these two men in conjunction with a progressive press, are making the Biden administration look like woke fools.
December 17, 2021 Global Times (here)
China and Russia to establish independent financial systems
Russia and China have agreed to develop shared financial structures to deepen economic ties in a way that will not be affected by pressure of third countries following talks between the top leaders, Russian media outlet RT reported on Wednesday.
The move will help both countries deter the threat of the US government’s long-arm jurisdiction based on the US dollar denominated international payment network, experts said.
During the talks on Wednesday, top leaders of the two countries called for increasing the share of national currencies in mutual settlements and expanding cooperation to provide Russian and Chinese investors with access to stock markets, said Yuri Ushakov, Putin’s foreign policy advisor, according to RT.
Ushakov said that “particular attention was paid to the need to intensify efforts to form an independent financial infrastructure to service trade operations between Russia and China.”
It’s an open secret. Russia and China plan to ditch the US dollar as world reserve currency and are now taking incremental steps to do it. Why now is obvious. A weak US administration not seen since Jimmy Carter, makes the timing perfect.
On April 5, 2021, China issued the first central bank digital currency called the digital yuan, a programmable currency, that China intends to make the next world reserve currency.
On January 1, 2022, I was interviewed by Jimmy DeYoung Jr. about this Russia/China plan to by-pass the US dollar …
“Jimmy: Can you comment on the recent news of China and Russia’s plan to establish an independent financial system for nations under US sanctions?
Me: On December 17, 2021, an article in the Global Times reported that both China and Russia who have been trying to remove the US dollar as world reserve currency for over a decade, are working to establish an independent financial trading system to avoid the US dollar.
To understand China’s motives, we need to go back to 2016 when the Chinese yuan was added to the basket of currencies called SDRs or Special Drawing Rights designed to function as an emergency world reserve currency in case of a meltdown of the US dollar.
The SDR is made up of the US dollar, euro, yen, British pound and now the yuan, giving China hopes to one day dethrone the US dollar, making the new digital yuan the world reserve currency. Few economists, however, give China much of a chance at that goal.
Jimmy, there is no question that the US dollar is a thorn in the side of China’s plan of global domination.
Russia’s move for an independent trading system is a little different. Russia’s, motive appears to be in response to a series of threats made by the Biden Administration that could disconnect Russia from the Brussels-based SWIFT global financial system if Russia invades Ukraine.”
In just 1 month since that interview, China and Russia are ramping up the rhetoric:
From the AP article:
The two leaders are looking to project themselves as a counterweight to the U.S.-led bloc, as China shows growing support for Moscow in its dispute with Ukraine that threatens to break out into armed conflict.
China and Russia are committed to “deepening back-to-back strategic cooperation,” Xi was quoted as telling Putin.
“This is a strategic decision that has far-reaching influence on China, Russia and the world,” Xi said, according to the official Xinhua News Agency.
Indeed it does. As the US administration continues to bungle every initiative, from the US border to Afghanistan to supporting Israel’s deadly enemies, Xi and Vladimir smell blood …
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