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Bloomberg: Russia Sanctions Accelerate Risk to Dollar Dominance

Stacy Summary: via Youri Carma, comes this headline from Bloomberg news.

Russia Sanctions Accelerate Risk to Dollar Dominance

dollar

While no one’s suggesting the dollar will lose its status as the main currency of business any time soon, its dominance is ebbing. The greenback’s share of global reserves has already shrunk to under 61 percent from more than 72 percent in 2001. The drumbeat has only gotten louder since the financial crisis in 2008, an event that began in the U.S. when subprime-mortgage loans soured, and the largest emerging-market nations including Russia have vowed to conduct more business in their currencies.

“The crisis created a rethink of the dollar-denominated world that we live in,” said Joseph Quinlan, chief market strategist at Bank of America Corp.’s U.S. Trust, which oversees about $380 billion. “This nasty turn between Russia and the West related to sanctions, that can be an accelerator toward a more multicurrency world.”

It seems everything started going wrong for the American empire from 2001. I think future historians will mark that as the beginning of the rapid part of the end.

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Why are Maxcoin and Bitcoin superior over fiat printed money?

There are a lot of things wrong with fiat printed money like euro and dollar.  But this article doesn’t point out the downside of fiat money, but the upside of Maxcoin.

Maxcoin is a coin with big opportunities for everyone. Not only as a payment system, but also as an investment.

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Purchasing power of dollar is falling: why still use it?

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Maxcoin will replace Bitcoin and dollar

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Perth Mint Gold Coin And Bar Sales Advance in October On Price Dip

Gold sales from Australia’s Perth Mint, which refines most of the gold bullion from the world’s second largest producer, rose in October as a drop in prices to a three month low led to increased demand and the mint filled a backlog of orders. (more…)

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Turkey’s Gold Imports In 2013 May Surpass Record Over 269.5 Metric Tonnes

Gold is gradually being remonetised again in Turkey and this trend will soon be seen globally. Turkey’s regulators have been discussing planned legislation to enable customers to buy or sell gold at bank branches or transfer gold into other accounts, according to an Aug. 29 report in Milliyet, a daily newspaper.  (more…)

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