Russia and China Roll Out Gold Backed Currency

For any of my readers who believe that the U.S. Dollar will ALWAYS be the world's reserve currency...and that we will ALWAYS be able to borrow $1 trillion per year and pay the interest with printed money from our own printing press....you may want to reconsider.

China and Russia have rolled-out plans to create a new currency that's 100 percent backed by gold.The new monetary system is designed to end the US dollar's dominance as the world’s default currency.Since 2015, Russia's Central Bank has been building its vast gold reserves.By the end of 2017, it had accumulated 1,828.56 tons making it the world's fifth largest gold reserve.

The United States' looming trade war and the overhang of debt have raised concerns on many levels as the dollar's keeps decreasing and the national debt spiraling out of control.

Gold Telegraph reports: Russia has been aggressively increasing its gold reserves for a reason.It has seen the US dollar dominate as a global currency and is working with China to end the US/Western currency supremacy.Their strategy appears to be working. Russia and China are in the midst of rumors of introducing gold-backed futures to circumvent the U.S dollar. The US dollar has had no gold-backing since 1933, nor has the US increased its gold reserves for a decade.

With speculation of Russia and China working on a gold-backed currency, a shift in monetary power from the West to the East seems to be their ambitions.The situation between East and West is exacerbated by recent tensions between Russia and the UK, since the alleged Kremlin poisoning of former spy Sergei Skripal and his daughter.British Prime Minister Theresa May has ousted 23 Russian diplomats from Great Britain.Geopolitical tension is once again, high.

http://www.neonnettle.com/features/1353-russa-china-unite-to-create-100-gold-backed-currency

So what does it look like if the other world powers start teaming up together and demanding that they be paid in OTHER CURRENCIES besides the US Dollar?

Let's just say that it would turn out to be very, very bad for Americans.  And all those $1000/month truck payments that folks signed up for over these past 4 years will suddenly be very painful when the confidence in our financial system begins to unravel.