Russia Holds "De-Dollarization Meeting": China, Iran Willing To Drop USD From Bilateral Trade

http://www.zerohedge.com/news/2014-05-13/russia-holds-de-dollarization-meeting-china-iran-willing-drop-usd-bilateral-trade

Petrodollar Alert: Putin Prepares To Announce "Holy Grail" Gas Deal With China

http://www.zerohedge.com/news/2014-03-21/petrodollar-alert-isolated-west-putin-prepares-announce-holy-grail-gas-deal-china

China, Germany plan to settle more trade in yuan, euros

With China possessing the second largest economy in the world and forming bilateral trade agreements with the 3rd largest (Japan) and 4th largest (Germany), as well with all their other trading partners, the role of the USDollar as the global reserve currency is further eroded.  The unintended consequences are a weakening USDollar and higher domestic inflation for US citizens, both detrimental to their standard of living.

Proponents will defend a weakening dollar as positive for exports, but the insidious effects on the purchasing power of its citizens is undeniable.  Nobody likes rising consumer prices.

http://www.reuters.com/article/2012/08/30/germany-china-yuan-idUSB4E7JG00D20120830

Yen-yuan direct trading to start in June

Take away message:  USDollar's status a the global reserve currency is tenuous at best.

http://www.google.com/hostednews/afp/article/ALeqM5jhqaTaT7LRk2gYyD05lmLJMDLJtQ?docId=CNG.78782f3a5fba2c9a595e61ea288f1c19.371

Iran, Russia Replace Dollar With Rial, Ruble in Trade, Fars Says

I warned about this in 2009, with the first Chinese announcements of "bilateral trade agreements" with their sovereign trading partners, specifically Russia and Brazil.

http://www.bloomberg.com/news/2012-01-07/iran-russia-replace-dollar-with-rial-ruble-in-trade-fars-says.html

Russia, Iran Proceed With Bilateral Trade, Drop Dollar; Russian Warships Park In Syria; Iran Accelerates Nuclear Enrichment

http://www.zerohedge.com/news/russia-iran-proceed-bilateral-trade-drop-dollar-russian-warships-park-syria