Monday, September 22, 2014

About those sanctions...

Economic sanctions intended to hurt Russia may instead backfire on the U.S. dollar.

Total, the giant French oil company, is now looking to Chinese financing on a major three way deal between itself, Russian and Chinese concerns.

Cutting out the dollar circumvents American sanctions. And charts a course for other deals where the dollar, seen as as a "world reserve currency" has its influence bypassed and diminished.

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