SLOW DEATH OF THE DOLLAR * EU-Russia-China-Iran to Ditch the Dollar * eastwind

EU-Russia-China-Iran to Ditch the Dollar
by Bernie V. Lopez,
Facebook Page – Eastwind Journals
Here, in a nutshell, is the dangerous trend towards a full-blown currency war never before seen, which may result in the slow death of the Dollar. If the Dollar falls, the global economy may fall. 
When Trump recently ditched the Iran Nuclear Deal, which jeopardized tens of billions of dollars in trade deals between EU and Iran, the EU decided to ditch the Dollar in all future oil trade with Iran, in retaliation. The EU is now shifting from Dollar to Euro to pay for crude oil from Iran. This sets the stage for a full blown economic war between the US and the EU.
Meanwhile, in April this year, Russia was also considering replacing the U.S. dollar in crude oil payments on deals with Turkey and Iran. In March, China started pricing its imports in Yuan currency, resulting in the rise of interest rates for Yuan-backed oil contracts. Daily trade volumes hit a record high. The share of Yuan in global trading jumped from 8% to 12% in eight weeks. The move of China, one of the biggest economy in the world, may eventually be the coup de grace on the death of the Dollar. 
Trump’s obvious purpose in ditching the Iran Nuclear Deal is to force Iran to stop all its nuclear energy efforts. The not-so-obvious purpose, observers suspect, however, are 1) to weaken Iran, ally of the arch-enemy Russia and buffer to its border, by strangling its economy (invasion is out of the question); 2) a larger geopolitical control and presence in Europe and Asia, especially regarding energy sources.
The effects of Trump’s move include – 1) ironically, further growth of oil-gas trades between EU, Iran, China and Russia, and away from the US; 2) ironically, in this growth, the Dollar is alienated, 3) a band-wagon effect on other countries to defy the Dollar, gathering more momentum, 4) the further strengthening of the Iran Nuclear Deal in the eyes of the world, except the US, in the name of energy trade. 
It is not known how the US will try to save the Dollar, in case the trend worsens, but it may be radical, desperate, dangerous, and damaging to the world economy. Call it ‘survival instinct’. (Data source –
eastwind verses p132/p133/p135a
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