This
means the creation of a single financial market between Russia, Armenia,
Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former
Soviet Union.
“This would help expand the use of national currencies in foreign trade
payments and financial services and thus create preconditions for greater
liquidity of domestic currency markets”, said a statement from Kremlin.
The
bill would also help to facilitate trade in the region and help to achieve
macro-economic stability.
Within
the framework of the Eurasian Economic Union (EEU) the countries have also
discussed the possibility of switching to national currencies. According to the
agreement between Russia, Belarus, Armenia and Kazakhstan, an obligatory
transition to settlements in the national currencies (Russian ruble, Belarusian
ruble, dram and tenge respectively) must occur in 2025-2030.
Today,
some 50 percent of turnover in the EEU is in dollars and euro, which increases
the dependence of the union on countries issuing those currencies.
Outside
the CIS and EEU, Russia and China have been trying to curtail the dollar’s
dominance as well.
In
August, China’s central bank put the Russian ruble into circulation in Suifenhe
City, Heilongjiang Province, launching a pilot two-currency (ruble and yuan)
program. The ruble was introduced in place of the US dollar.
In
2014, the Russian Central Bank and the People’s Bank of China signed a
three-year currency swap agreement, worth 150 billion yuan (around $23.5 billion),
thus boosting financial cooperation between the two countries.
WHY I AM NOT A DISPENSATIONALIST John Nelson Darby is recognized as the father of dispensationalism later made popular in the United States by Cyrus Scofield's Scofield Reference Bible. Charles Henry Mackintosh, 1820–1896, with his popular style spread Darby's teachings to humbler elements in society and may be regarded as the journalist of the Brethren Movement. CHM popularised Darby more than any other Brethren author. As there was no Christian teaching of a “rapture” before Darby began preaching about it in the 1830s, he is sometimes credited with originating the "secret rapture" theory wherein Christ will suddenly remove His bride, the Church, from this world before the judgments of the tribulation. Dispensationalist beliefs about the fate of the Jews and the re-establishment of the Kingdom of Israel put dispensationalists at the forefront of Christian Zionism, because "God is able to graft them in again," and they believe that in His grace he will do so according to their understanding of Old Testament prophecy. They believe that, while the methodologies of God may change, His purposes to bless Israel will never be forgotten, just as He has shown unmerited favour to the Church, He will do so to a remnant of Israel to fulfill all the promises made to the genetic seed of Abraham. I am not a dispensationalist; it is unbiblical.
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