http://www.wealthdaily.com/articles/russia-and-china-join-forces-to-kill-the-us-dollar/5093

While there’s still a lot of focus on Russia and Ukraine, the so-called mainstream media is taking little notice of the possible economic consequences of this conflict.

I have previously suggested that Russia may seek revenge on the U.S. government by selling off its holdings of U.S. Treasuries.

But a related topic is also getting some attention, and that is the status of the U.S. dollar as the world’s reserve currency.

After China refused to vote in favor of sanctions against Russia, it is reported that the chief economist of Russia’s largest bank said the Chinese yuan could become a third world reserve currency (assuming the U.S. dollar and the euro are first and second).

JIm Rogers had this to say last year:

While I’m not sure this assessment will be correct, it is interesting that this subject is getting so much attention. It is also interesting that a Russian figure would be paying high compliments to China.

I think the people and politicians of countries around the world, particularly in Russia and China, are getting tired of the U.S. government. In the case of Russian and Chinese politicians, they may just want power for themselves. They also don’t like getting embarrassed.

In this regard, it would not surprise me to see some of these bigger countries team up in seeking some revenge against the U.S. They know they have to be careful in how far they play their hand, but they would like to see the U.S., or the U.S. government more specifically, taken down a notch or two.

One of the best ways to accomplish this is economically. Nobody is going to benefit from a major military conflict, so hurting the dollar may be the only way to get revenge.

The Chinese Yuan Read More Here