For months we have been hearing it would happen and as economic ties between China and Russia deepen, both countries are making trade agreements that are further weakening the US Dollar.
The Moscow Times reports "Russia and China Gang Up on U.S. Dollar as Economic Ties Deepen," in an article which explains yet another pledge between Russia and China to conduct more bilateral trade in ruble and yuan to lessen dependence and dominance of the US Dollar. They state they will not break old contracts but will also encourage "companies from the two countries to settle more in local currencies, to avoid using a currency from a third country," according to First Deputy Prime Minister Igor Shuvalov
While Russia and China have been pushing to limit the US greenbacks influence, the recent sanctions imposed on Russia over the Ukraine/Russia issue has spawned a level of cooperation and new trade deals that will speed up the demise of the dollar. According to the report "Chinese firms' proposals to invest in more than 30 projects in Russia were also discussed, Shuvalov said. The projects, some of which were valued at several hundred million dollars, included building roads and bridges, resource development, agricultural production and transportation facilities, he added."
In the two videos below we see that months there were predictions that Russia and China's alliance would crash the dollar and just days ago, economic experts were declaring that Russia would actively help "kill the US Dollar." In the third and last video from September 3, 2014, we see a headline of WW3 countdown as China moves against the Dollar.
Make no mistake, this is war, call it a currency war, an economic war, or whatever you wish, but Russia and China have just conducted another bombing run against the Dollar.