End of US Dollar Dominance? South Korea bypassing dollar in trade with Iran
South Korea intends to trade with Iran without using US dollars:
November 13, 2018
While the sanction war America started against Russia in 2013 appears to have opened the door to de-dollarization, Washington’s latest gambit towards Iran seems to have fully opened the floodgates. And that is because the latest country to willingly accept trade outside the dollar just happens to be a long-standing ally of the U.S..
South Korea and Iran have agreed to switch to national currencies in trade exchanges as the sides aim to strengthen relations despite the US sanctions on Tehran. The agreement is of great importance to both countries, Yonhap News Agency reported, explaining that the deal indicated Korea’s concerns about relations with Iran. The countries also agreed to make payments and settle their financial and banking accounts using the South Korean national currency, the won. That will allow South Korean and Iranian companies to continue their extensive exchanges in various fields. The volume of bilateral trade surpassed the $12-billion benchmark last year, according to Iran’s ambassador to Seoul Saeid Badamchi Shabestari, who told Press TV that the Iranian and Korean economies complement one another. – Russia Today
The world has progressed to the point where it no longer needs a singular point medium of exchange as it did following World War II when the dollar was by far the strongest currency available. …
Perhaps it should not be surprising that South Korea is now joining in with the likes of Japan (bi-lateral trade with China) and the EU when it comes to the growing movement to conduct trade outside of a reserve currency. http://www.shotguneconomics.com/2018/11/latest-de-dollarization-move-comes-from.html
The dollar still remains the world’s primary reserve currency.
It will remain so for some time. But as more and more nations look to bypass it, one day it will pass the point of being as important to international trade–this will have devastating effects on the economy of the USA.
Notice also the following:
The Biggest Threat To Dollar Dominance
Russian oil exporters are pressuring Western commodity traders to pay for Russian crude in euros and not dollars as Washington prepares more sanctions …
the Russian companies’ move was to be expected as the Trump administration pursues a foreign policy where sanctions feature prominently. This approach, however, could undermine the dominance of the U.S. dollar as the global oil trade currency. …
In March, Iran banned purchase orders denominated in U.S. dollars and said that any merchant using dollars in their orders will not be allowed to conduct the import trade. A month later, Tehran announced that it will publish all its official financial reports in euros instead of dollars in a bid to encourage a switch to euros from dollars among state agencies and businesses. …
China is also openly promoting its currency for oil trade and all trade. The internationalization of the yuan is part of the New Silk Road initiative of President Xi and given China’s level of oil consumption, oil trade is a big part of this internationalization. Earlier this year, China launched its long-awaited yuan-denominated oil futures contract. While the general trading public remains cautious about buying into it, some have forecast that the yuan will eventually replace the greenback as the global oil currency. And it could be joined by the euro as long as the European Union survives in the long term. After all, Russia and Iran are among the biggest oil exporters globally. That’s a lot of barrels that might be soon traded in euro and not dollars. 11/12/18 https://oilprice.com/Energy/Crude-Oil/The-Biggest-Threat-To-Dollar-Dominance.html
Europe warns: Iran sanctions threaten US dollar dominance
European diplomats are warning that enhanced U.S. financial sanctions against Iran run the risk of forcing the rest of the world to create alternative banking systems that could undermine the long-time dominance of the U.S. dollar.
The issue has come up as the Trump administration considers aggressive sanctions aimed at expelling Iran from the international banking system. …
Russian President Vladimir Putin has stoked fears that the U.S. dollar would be weakened if it went too hard against Iran.
“We are seeing what is happening with the sanctions that are essentially illegal restrictions,” Putin said during a July diplomatic summit in South Africa. “I believe this is a big strategic mistake on their behalf because they are thus undermining confidence in the dollar as a reserve currency. This is the bottom line.”
Iran hawks think that is “political bluster” from the leader of a weak economy. “It’s a political tactic to try to scare us into not taking action,” the Iran sanctions expert said. “U.S. sanctions power today is still the dominant force in the world. Will there be a point in 20 or 30 years where the dollar is not dominant? I hope not. We should take steps to prevent that.” 10/29/18 https://www.washingtonexaminer.com/policy/defense-national-security/europe-warns-iran-sanctions-threaten-us-dollar-dominance
Furthermore, we are seeing more and more international shifts away from the USA dollar, though not all will be successful. But eventually, the USA dollar will lose its dominance.
Now, consider the following related to Iran, Russia, and Europe:
Europe Finally Has an Excuse to Challenge the Dollar
The plan for a “special purpose vehicle” to bypass U.S. sanctions on Iran could test American dominance of the global financial system. …
Federica Mogherini, the European Union’s top foreign-policy official, said in New York on Monday that the plan to create a “special purpose vehicle” for trade with Iran “will mean that EU member states will set up a legal entity to facilitate legitimate financial transactions with Iran, and this will allow European companies to continue trade with Iran.” … it is clear to the Europeans (as well as the Chinese and Russians) that any future transactions with Iran must go through entities insulated from the American financial system. …
Mogherini indicated that Germany, France and the U.K. would set up a multinational state-backed financial intermediary that would deal with companies interested in Iran transactions and with Iranian counter-parties. Such transactions, presumably in euros and pounds sterling, would not be transparent to American authorities. European companies dealing with the state-owned intermediary technically might not even be in violation of the U.S. sanctions as currently written. The system would be likely be open to Russia and China as well. https://www.bloomberg.com/view/articles/2018-09-25/europe-finally-has-an-excuse-to-challenge-the-dollar
Professor Abramov: “If Russia succeeds in convincing European Union countries, as our main consumers, to make oil payments in euros rather than dollars, this would be a real, tangible blow to the dollar.
But imagine stepping into the shoes of a European partner: to what extent would this be a long-term solution? Why would they want to force a confrontation between Europe and the United States?” https://www.euronews.com/2018/10/04/could-russia-s-plan-to-shun-the-dollar-boost-its-economy
Note the question: “Why would they want to force a confrontation between Europe and the United States?”
Well, because Europe wants to rule the world and it more and more sees that the USA is in its way.
Europe wants its own military and its own empire (see Donald Trump lashes out against Europe defending itself–Europeans pushing for an empire).
Let’s not forget China. The Continuing Church of God has put together the following video on our Bible News Prophecy YouTube channel:
The US dollar has been the world’s primary reserve currency for decades. Is this about to change? What is going on with the Chinese yuan and oil and gold? What do the BRICS nations want? What did Venezuela do? Do the Europeans want to dislodge the US dollar as the world’s primary reserve currency? Does US debt play any role? Does the Bible tell us what will happen to the USA and its dollar? What happens if the USA loses its status? Will gold outlast the US dollar? Dr. Thiel addresses those issues and more.
Here is a link to our video: US Dollar being challenged by Gold-Petro-Yuan.
The probability of China, Japan and the Europeans dropping major use of the USA dollar is NOT zero.
It will happen, though it will take some time. But many are working on it now!
The more final drop basically could happen with a combination of multi-national cooperation (of which we are seeing more of against the USA dollar), natural and/or man-made disasters impacting the USA, and increasing USA debt (which keeps happening).
The USA ‘benefits’ in many ways by having the world’s predominant reserve currency.
Notice also a recent video on our Bible News Prophecy YouTube channel related to the sanctions matter:
US Sanctions and Tariffs leading to New World Order?
Russian Prime Minister Dmitry Medvedev said new US sanctions would be a declaration of economic war. Iran, North Korea, China, Europe, and Turkey are also upset about USA sanctions and tariffs. A Turk asserted “Somebody must find a solution and stop the USA.” The BRICS nations see US sanctions and tariffs as helpful to their objectives to trade without the USA. Are “unintended consequences” of USA policies threatening the current Anglo-American world order and leading to a New World Order? What has ‘Lord’ Jacob Rothschild and Russian President Vladimir Putin stated? Does Bible prophecy say that a confederation of Turks, Arabs, and Europeans pose a real threat to the USA and UK? Is the final time of the Gentiles coming? Will it be worse than people imagine? Dr. Thiel addresses these issues and more.
Here is a link to our video: US Sanctions and Tariffs leading to New World Order?
US sanctions and trade policies are factors that will lead to the loss of the USA dollar as the world’s premier reserve currency.
As I warned prior to Donald Trump’s inauguration, there will be many “unintended consequences” to some of his policies and statements.
The days of the US dollar’s dominance are numbered. US sanctions and tariffs are helping lead to its demise.
There is a cost to USA sanctions.
They are pushing the Gentile nations to come up with something that the USA will not like.
One day the USA dollar will be worth no more than the scrap value of the cotton-paper it is printed on.
It will be worse than almost all pundits seem to think even though some have reported the view that the US dollar will one day lose its dominance.
Some items of possibly related interest may include:
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
Korea in Prophecy, Any Witness? Where did the Korean people come from? Does God have a plan for the Koreans? Is Korea mentioned in any prophecies? Will Koreans be among the first in the Kingdom of God? Here is a machine-translated link to that article in Korean: 한국의 언어로 : 한국 예언, 모든 증인에?. Here is a link to a magazine with that article in Mandarin Chinese: 在预言中的韩国：有任何证人吗？ A prophetic video is also available: Syria, North Korea, and Prophecy.
Trade Disputes: CCOG Warnings Are Coming to Pass Trade tensions and talks of trade wars have escalated. US President Donald Trump has put Europe, China, Mexico, and other lands on notice that he wants to change how international trade with the USA has been going. Tariffs, retaliatory tariffs, and even more tariffs are being implemented. Is this all just happenstance? Are we yet in a trade war? What will Europe do? Has the Church of God been warning about trade disputes and a coming trade war for decades? What about the Continuing Church of God (CCOG)? What has been warned, what has been happening, and what will happen? Will trade disputes be a factor in World War III (WW3)? Dr. Thiel explains what has been taught and what to expect.
Trade Wars: Are COG warnings coming to pass? Trade issues, tariffs, and talk of trade wars are in the news. Can trade wars lead to World War III like they did to World War II? Are the events going on with the USA, UK, Asia, and Europe consistent with warnings published by the true Church of God (COG) over the past several years and decades? Do Germany and China hope to take advantage of trade frictions involving the Trump Administration and the Trans-Pacific Partnership agreement? What about Mexico and South America? Does the Bible teach that Europe will become a major trading power? Will the final European Babylonian trading power be destroyed? Dr. Thiel addresses these issues and more in this video.
18 items to prophetically watch in 2018 Much is happening. Dr. Thiel points to 18 in this article. Here is a link to a related sermon: 18 items to prophetically watch in 2018.
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? A YouTube video of interest may be Is China THE Threat to the United States of America?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
Ezekiel 38: For Russia & Iran in Our Day? Is Ezekiel 38 about to be fulfilled? A related video is available titled Ezekiel 38: For Russia, Ukraine, & Iran Now? Another could be Russia, Iran, Syria, & the Bible (Code).
Russia and Ukraine: Their Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end? There is also a video sermon available: Russia in the Bible and in Prophecy and a video sermonette available: Ukraine in Prophecy?
Teachings Unique to the Philadelphia Church of God Simply calling oneself ‘Philadelphia’ does not make one so (see Revelation 3:7-9), nor does Gerald Flurry calling himself “that prophet” make it so. This article provides many quotes from this group which tries to look faithful.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? Here is a link to a video titled: The Future King of the North.
Can You Prove that the Beast to Come is European? The Book of Revelation tells of a beast power that will rise up. Some think that this must be Russia or could be Islamic, while others say that this power is European. The Book of Daniel tells of the rise of an end time King of the North that some think must be referring to a Russian leader, while others say that this power is European. How can you be sure? This YouTube video has all the scriptural proofs that you should need to prove that this power must be a European one.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. A related sermon is titled: Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
When Will the Great Tribulation Begin? 2018, 2019, or 2020? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2018 o 2019? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Can the Great Tribulation begin in 2018?
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Is one being formed right now? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? If some type of Eurasian union is formed, who might it benefit and who will it destroy? A related video would be Is The Eurasian Union Rising?
Brexit and the fate of Northern Ireland, Gibraltar, the UK, and the USA On April 29, 2017, 27 of the nations of the European Union agreed to certain guidelines for the negotiations with the United Kingdom of Great Britain and Northern Ireland which gave its notice to leave on March 29, 2017. These guidelines are contrary to what the UK wants. Does the EU intend the UK to pay a price for leaving the EU? What does Spain want? What does the Republic of Ireland want? Will Northern Ireland and Gibraltar eventually fall under European control? Will the UK and USA be conquered? What does the Bible teach? Dr. Thiel answer these questions and more in this video.
Forbes’ Brexit Monster is the Beast of Revelation Various ones have been properly convinced that there is a plan for a European superstate. Forbes’ writer Tom Worstall wrote that the Brexit vote was about the United Kingdom “not joining the monster of the European Union to come.” The Bible tells of a Beast monster that will arise in the end times in Europe. Dr. Thiel cites news reports, as well as the Old and New Testaments, to show that the monster many fear will arise in Europe, despite the vote by the British to exit the European Union. This is a video.
Post Brexit Prophecy On June 23, 2016, the voters of the United Kingdom of Great Britain and Northern Ireland (UK) chose to leave the European Union. Now with this BRitish EXIT (Brexit) vote, what is prophesied to happen to the UK? Will the UK do well or be taken over and made slaves? Dr. Thiel explains from biblical prophecies what is ahead for the UK, Europe, and even the USA, Canada, Australia, and New Zealand. This is a video.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be: Are Chinese threats against Australia for real?
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Two related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency.
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.
Donald Trump and America’s Apocalypse This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America’s Apocalypse.
Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Donald Trump and America’s Apocalypse-Kindle Edition.
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