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China and Russia joined to fight the dollar as reserve currency par excellence. This judgment issued by the prestigious American trader Russ Winter, who claims that Beijing and Moscow would already shaping the first part of a plan against the hegemony of the dollar on world markets.

The consequences of climate change stand to affect both Russia and the US in new and dangerous ways, possibly very soon. President Obama convened a special briefing this May to anticipate an ice-free Arctic passages as early as 2015, generations ahead of mainstream forecasts obtaining very recently. Severe fluctuations in food prices are becoming more likely, with potentially devastating consequences.

While Western experts predict that China is on the verge of an economic collapse, for Russian economists the Asian country could be taking advantage of this time of economic stagnation to solve the problems that have accumulated.

China is conducting a two-stage plan against the dollar in an attempt to deprive the U.S. currency's status as world reserve currency, says investment manager Russ Winter. According to the analysis of the blog ZeroHedge, China does not like the hegemony of the dollar as reserve currency: the Bank of China already in 2009 claimed that the domain of a currency in the world carries a high risk of crisis contagion.

The European Commission has temporarily suspended the allocation of financing to Hungary for several aid programs because they have detected violations in controls over the use that is given to this money.