Thursday, February 19, 2015

De-Dollarization Accelerates

Three months ahead of schedule, Russia announces the launch of its own 'SWIFT'-alternative, linking 91 credit institutions initially, suggests de-dollarization is considerably further along than many expected (especially as Russia dumps US Treasuries at a record pace).

http://www.zerohedge.com/news/2015-02-18/de-dollarization-accelerates-russia-launches-swift-alternative-linking-91-entities

Maybe this is not a big deal yet, but the world does seem to be withdrawing from the dollar's orbit.

I heard a lot of criticism this morning from the MSM about Obama ad-Dajjal's claim that poverty may be driving young men to become jihadis. Perhaps that isn't true, but it is almost certain that the people of the world are sick and tired of seeing huge corporations take their wealth, leaving the people with no way to support their families.

In other words, Russia is not our only problem.

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