Share of dollar in Russian exports falls below 50% – CoinTribune

Dollar, niet

Already in May 2020, Russia got rid of 96% of its $ 100 billion in reserves. Then we wrote:

This Cold Monetary War was born out of the Wall Street explosion when the Fed took a hand in the printing press. This intensified in 2014 after a coup d’état orchestrated in Ukraine by the prominent American deep state, dark billionaire Soros. Russia responded by returning Crimea (the Russian military base in Sevastopol). But not only … It also started the process of de-dollarization and the accumulation of gold.… “

Efforts made over several years Vladimir Putin At the end of last year, a new step was taken to reduce Russia’s dependence on the dollar. The Central Bank of Russia said on Monday that the share of exports in dollar terms fell below 50% for the first time.

Share of currencies in Russian exports
“Russia has reduced the dollar share of its exports”

According to the Central Bank of Russia, the bulk of the decline is due to the fact that Moscow and Beijing now conduct less than 25% of their trade in dollars.… Another explanation is associated with a significant increase in the share of the euro by 10% compared to the previous quarter. 36% of Russian exports are now paid in euros. 48% in dollars. The euro will strengthen even more when the subsea pipeline is built. Nord Stream II – the connection of the city of Ust-Luga with Germany via the Baltic Sea will be completed, much to Washington’s disappointment.

As for Russian gold reserves, they almost quadrupled, from 400 to 1,700 tons between 2012 and 2021. However, these frantic purchases stopped late last year. Rumor has it that the mainland country now prefers to hoard bitcoins … BitRiver, the largest mining farm in Russia, reported in February that it had received a batch of 20,000 70MWh machines, or 0.50% of the hashrate. bitcoins at the time.

Indeed, it is difficult to see how Russia can remain blind to the Bitcoin revolution, which is a turnkey solution that replaces the Western payment system. Especially when we know that his Iranian ally has officially embraced him. The country of Cyrus has installed mining farms at three power plants and now pays for imports in bitcoins!

A wise decision of the Persians, who did not forget the fate that the Americans had in store. Saddam Hussein for the fact that they decided to sell their oil exclusively for euros. It was performed in the Texas tradition (state George W. Bush) by hanging. This barbarism has certainly prompted more than one country not to question the petrodollar system.

China, petrodollar and bitcoin

The Celestial Empire is already the largest economy in the world (in purchasing power parity). It would be enough if the yuan appreciated by 30% against the dollar, for Chinese GDP to exceed Uncle Sam’s, but the yuan does not even account for 4% of payments in international trade.

At the end of 2019, the dollar still accounted for 99% of payments for crude oil. This figure likely changed after China withstood the US embargo by buying over a million yuan-denominated barrels a day from Iran.

But these numbers by no means reflect the dimension that China took upon itself in the “concert of nations.” And this despite the launch of 2018. Shanghai International Energy Exchange, oil contracts in RMB.

Volumes in Shanghai have already exceeded Dubai Commodity Exchange, and sometimes come close to the Brent brands from the North Sea. In accordance with Bloomberg, volumes handled in Shanghai accounted for 10.5% of global volume in June 2020, up from 6.2% two years earlier.

However, the gap is still gaping and hence the launch of a new Pharaoh’s Silk Road project. It is about creating strong economic ties with the rest of the world so that the yuan can take root naturally, without having to walk through American flower beds.

Thus, the decline in dollar trade between China and Russia has accelerated since 2019. The reason is that the company Rosneft changed contracts for the export of crude oil to euros. In addition, the supply of natural gas through the pipeline Power of Siberia doubled since January with a consumption of 10 billion cubic meters per year. In other words, according to the data for the first quarter, we should see that Russia again sharply reduced the share of the dollar in its exports.

Everything goes according to plan. Sergey Lavrovat the end of March confirmed from Beijing the general strategy aimed at ” reduce their dependence on the dollar, as well as on Western payment systems The Russian Foreign Minister clearly had in mind the network. FAST

Coming back to Bitcoin, remember that the Chinese central bank recently christened it:

We believe that Bitcoin has an important role to play in the future as an investment vehicle or alternative investment. Said Li Bo, one of the seven governors of the BOC. “Investment instrument“… In other words: international reserve currency.

International reserve currencies for centuries

Only a stateless, anti-inflationary, indestructible and prohibited currency can claim to be the architecture of the international monetary system of the 21st century. The dollar / SWIFT network combination will not be replaced by the CBDC chimera in the hands of the Bank for International Settlements. The future will be reckoned in bitcoin and Iran, Russia and China are likely to be at the forefront

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