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As 'secret Saudi deal' increases harm to Russian currency, China intervenes
October 13, 2014
8:34 AM MST
Last Friday it was revealed that the purpose behind Secretary of State John Kerry's visit to Saudi Arabia a few weeks back was to sign a secret deal by which the leading OPEC state would saturate the markets with excess oil and cause prices to fall for the global commodity. This move would have the consequence of causing vast harm to the Russian Rouble, and increase inflation and price instability for the Eurasian state.
However, on Oct. 13 Russia's strongest ally and member nation in the BRICS coalition signed its own deal with the Eurasian power to not only help stabilize prices for the beleaguered economy, but increase direct non-dollar trade with a 150 billion currency swap deal through which Russian Roubles are traded directly for Chinese Yuan. This new deal will have the effect of bypassing the dollar and the the reserve currencies overt effects on the Rouble that is part of the ongoing proxy war between America and the East, and also mitigate some of the consequences of the secret Saudi oil program.
As 'secret Saudi deal' increases harm to Russian currency, China intervenes
October 13, 2014
8:34 AM MST
Last Friday it was revealed that the purpose behind Secretary of State John Kerry's visit to Saudi Arabia a few weeks back was to sign a secret deal by which the leading OPEC state would saturate the markets with excess oil and cause prices to fall for the global commodity. This move would have the consequence of causing vast harm to the Russian Rouble, and increase inflation and price instability for the Eurasian state.
However, on Oct. 13 Russia's strongest ally and member nation in the BRICS coalition signed its own deal with the Eurasian power to not only help stabilize prices for the beleaguered economy, but increase direct non-dollar trade with a 150 billion currency swap deal through which Russian Roubles are traded directly for Chinese Yuan. This new deal will have the effect of bypassing the dollar and the the reserve currencies overt effects on the Rouble that is part of the ongoing proxy war between America and the East, and also mitigate some of the consequences of the secret Saudi oil program.
