Venezuela Moves To Oust Dollar From Oil Trade - Could Russia Be Next?

Several nations around the world including some large oil exporters do not like the US dollar's privileged status and want an alternative. The nation of Venezuela is in the process of rolling out a new cryptocurrency that would be backed by oil reserves that could be a palatable alternative to the US dollar. If this new currency is successful, it will mean rising inflation and most likely substantially higher taxes in the United States. More…