Incase you missed this in today’s news. The significance is that the ‘other’ great nations of the world are proposing to continue business in their own currencies and will quit using the US dollar as the global trading currency.
US dollars became the world’s currency after WW2 when it replaced the pound sterling 73 years ago! The ramifications for the US could be devastating resulting in complete isolation.
Germany and France said they would seek to shield European companies from U.S. sanctions, which would prohibit companies that do business in Iran from using the U.S. financial system.
And Russian President Vladimir Putin has spoken to German Chancellor Angela Merkel and Turkey’s President Recep Erdogan about how to save the 2015 agreement with Iran, according to Russia’s official press agency TASS. Putin has long advocated for a new financial system with China that would circumvent the reach of U.S. sanctions, which also target his country.