The Collapse Of The Western Fiat Monetary System May Have Begun

JSC: Jamaicans in Solidarity with Cuba

Source: Global Research 
April 24 2016

By Peter Koenig

The Collapse of the Western Fiat Monetary System may have Begun. China, Russia and the Reemergence of Gold-Backed Currencies

chinese yuan 3On 19 April 2016, China was rolling out its new gold-backed yuan. Russia’s ruble has been fully supported by gold for the last couple of years. Nobody in the western media talks about it. Why would they? – A western reader may start wondering why he is constantly stressed by a US dollar based fiat monetary systems that is manipulated at will by a small elite of financial oligarchs for their benefit and to the detriment of the common people. 

sergey glazyev

In a recent Russia Insider article, Sergey Glaziev, one of Russia’s top economists and advisor to President Putin said about Russia’s currency, “The ruble Is the most gold-backed currency in the world”. He went on explaining that the amount of rubles circulating…

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