The non-USD/FRN trade block continues to grow and expland. We are used to seeing Russia and Iran linked, sometimes with China. But now the non-dollar group includes Japan and India as well, and, you know, I thought they were allies.
Just read that list, wow. China, Japan (all of east Asia really), India, Russia, Iran.
All avoiding the dollar.
For now, they are expanding bilateral and trilateral trade swaps, but it is only a matter of time before a common currency unites them. Given their cultures of corruption and non-transparency, such a common tradting currency will almost certainly be based upon a gold standard.
news reports:
http://english.farsnews.com/newstext.php?nn=9007275648
Iran, Russia Replace Dollar with National Currencies in Trade Exchanges
"During the last two years, Iran has been replacing dollar with other currencies in its trade with the outside world. Iran has replaced dollar in its oil trade with India, China and Japan."
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