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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 443.60

+1.5%

Jan 21 4:00 PM EST

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To: bull_dozer who wrote (185724)	3/26/2022 9:41:06 PM
From: bull_dozer	Read Replies (1) of 219610

Dollar reserve system frays with India-Russia currency deals NEW YORK – Russia and India took a small but important step towards non-dollar trade financing and investment on March 25, when the Reserve Bank of India allowed Russia to invest the proceeds of its arms sales to India in local-currency corporate bonds. Russia’s account with India’s central bank is small, with a reported balance of US$262 million, but the prospective advantages to both countries are enormous: India will pay for one of its most important import items, namely Russian weapons, in local currency, and Russia will invest the proceeds in a financial market safe from sanctions. India changed its rules on external commercial borrowing to accommodate the Russian proposal, Bloomberg News reported. The US, European Union (EU) and Japan seized Russian central bank reserves as well as the assets of wealthy Russian nationals after Moscow’s troops invaded Ukraine in late February. asiatimes.com

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