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 Two years ago, ICBC, the largest and most valuable bank in the world by total assets and market capitalization, was planning to open a clearing bank in Russia for trade settlements in Yuan (Renminbi) and Rubles. ICBC’s business involvement include electricity, mining, chemical, oil and gas, telecommunication, retail, machinery and metallurgy sector in Russia.

It makes perfect sense to get rid of US dollar. Why must China and Russia conduct their business transactions using their rival’s currency? The US dollar is so strong because 80% of world trade take place in US dollar. Besides military might and power, the high demand for US dollar is also driven by perception that it’s the safest currency simply because US is also the world’s biggest economy.

Last month, China and Russia decided to break their dependency on US dollar in their bilateral trade and investment. Bank of Russia, the Russia’s central bank, opened its first overseas office in Beijing on March 14. A week later, ICBC (Industrial and Commercial Bank of China) officially opens for business in Moscow – as a clearing bank for Yuan / Renminbi.

“Financial regulatory authorities of China and Russia have signed a series of major agreements

Russia Says It’s Ready To Cut Their Dependence On The US Dollar

UK retail growth slows more than expected.  

US job openings soar as corporations sales decrease.

US credit card debt at an all time high, more people are living on credit to survive.

Fannie/Freddie are going to be in trouble when the economic downturn begins.

Corporate leverage is at an all time high.

Russia is prepared and ready to cut their dependence on the dollar and payment system.

Behind The Scenes, Plans Are Being Formulated

Obamacare is officially destroying the economy.

Duterte meets Tillerson, the Pentagon wants to bomb the IS in the Philippines.

Canadian National advisor visits North Korea.

Tillerson says all North Korea needs to do is stop the missile tests at the same time the US and South Korea hold live fire drills.

Japan ups the ante and reports that North Korea might have a miniature nuke.  

China gets its way on North Korea, the US (deep state) didn’t want talk or sanctions they wanted action and China and Russia stepped in to stop it.

Deep state planning a false flag in North Korea, Trump tweets out the plan.

IS loses ground in Syria, the Syrian army and Russian troops control most of central Syria.

There are reports that behind the scenes there is a secret deal in regards with Raqqa.

Sources X22Report

China And Russia Replace US Dollar As Reserve Currency

Source The Event is Coming

#economy #russiaChina #reserve #oneworldcurrency

X22 Reports: Russia and China Are Now Teaming up to Counter the Deep State | New Report Finds the Economy Never Recovered, it Is One Big Illusion (Videos) click here

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