At the heart of the American economy and the Petrodollar is energy and Russia and China just cemented an agreement where they do not need the dollar. The Russia –China  $400 billion energy deal, signed in May this year will by 2018 have some 38 billion cubic meters of gas flow through the so-called ‘Holy Grail’ pipeline from the largest gas producer, Russia, to the largest energy user, China. This deal  is many things at once: It is, of course a symbolic step in the process of decoupling hydrocarbon trading from the dollar, as it foresees payments in local currencies, rubles and yuan. It sidesteps the  Petrodollar for hydrocarbon trading. Over one-third of the planet just moved away from the dollar when this recent deal was cemented. As if the Russian-Chinese energy deal is not bad enough, the BRICS are driving a stake into the American economy as they have set up a  new development and investment bank for all of the BRICS countries. The banks  will be headquartered in Shanghai, China, with the first president of the bank will be from India. The BRICS nations, of course, are a group of emerging economies and draws its name from the five member countries – Brazil, Russia, India, China and South Africa. BRICS is also considering starting a joint infrastructure fund with an initial capital infusion of around $100 billion to begin investing in each other’s transportation, water and sewage systems.Turkey’s Gas Deal

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