http://armstrongeconomics.com/2014/05/22/historic-trade-deal-russia-china-will-this-dethrone-the-usd/
"The currencies of Russia and China are not ready for prime time. There is too much political instability right now and that undermines the value of a currency aside from the fact that people can trade in them, that is nice, but they then quickly covert to dollars. The process of dethroning the dollar is nonetheless underway. However, that will not be accomplished by trade. The way that will happen is only when we see the inevitable systemic collapse in government debts. That will begin in Europe, then hit Japan, and the USA will be last."
"The currencies of Russia and China are not ready for prime time. There is too much political instability right now and that undermines the value of a currency aside from the fact that people can trade in them, that is nice, but they then quickly covert to dollars. The process of dethroning the dollar is nonetheless underway. However, that will not be accomplished by trade. The way that will happen is only when we see the inevitable systemic collapse in government debts. That will begin in Europe, then hit Japan, and the USA will be last."
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