Church of God News

Vladimir Putin at Shanghai Cooperation Organization (SCO) discussing not using USA dollar for trade


COGwriter

The Gentile organization called Shanghai Cooperation Organization (SCO) finished meeting. Notice something from it:

Putin proposes SCO bank free of ‘weaponised’ financial systems

Addressing the 2026 SCO Summit in Bishkek, Kyrgyzstan, Putin said the proposed bank should be independent of financial systems used as economic weapons.

1 September 2026

Russian President Vladimir Putin has urged members of the Shanghai Cooperation Organisation (SCO) to set up a development bank independent of existing financial mechanisms, arguing that such systems are increasingly being used as tools to exert economic and geopolitical influence, media reports said on Tuesday, September 1.

Addressing the 2026 SCO Summit in Bishkek, Kyrgyzstan, Putin said the proposed bank should be independent of financial systems used as economic weapons. He also said Russia’s trade with SCO countries topped $400 billion last year, reported RT India.

The proposal comes at a time when both Iran and Russia face massive sanctions and aligns with Moscow’s broader efforts to diversify away from the US dollar and Western-controlled financial infrastructure. …

Russia has been especially vocal about moving away from the US dollar and Western-dominated financial systems since sanctions were imposed following its military action in Ukraine.

Putin said Russia’s trade turnover with SCO countries exceeded $400 billion last year. Moneycontrol quoted him as saying, “National currencies are being used more and more in transactions between our countries. In Russia’s transactions with SCO members, national currencies account for over 98%.” …

Putin said SCO members should continue strengthening commercial ties. China has also backed greater financial cooperation within the SCO, https://www.siasat.com/putin-proposes-sco-bank-free-of-weaponised-financial-systems-3534380/

More than 3.4 billion people live within the SCO member states, representing about 42 percent of the world’s population. This bloc represents not only a demographic force but also the largest human market and potential workforce, encompassing China, one of the world’s two largest economies, and India, one of the fastest-growing major economies, in addition to Russia and Iran with their vast energy resources.

The true significance of the SCO summit lies not in compiling these figures, but in attempting to translate them into institutional power. Discussions are focused on expanding the use of national currencies in trade, developing independent financing mechanisms for joint projects, and continuing consultations on establishing a development bank and fund affiliated with the organization. This does not mean the dollar will lose its position quickly, but it does reveal a gradual path to reducing the exposure of member states’ economies to Western sanctions and financial pressures. 08/31/26 https://www.globaltimes.cn/page/202609/1369539.shtml

So, we see push back against the USA’s weaponization of its dollar.

Notice also:

1 September 2026

Leading participants in the SCO summit, including top officials from China, Russia and Iran, sought to strengthen what amounts to an anti-US coalition dedicated to diminishing Washington’s global economic influence. Iranian President Masoud Pezeshkian, for example, pushed a plan to “de-dollarize” the global economy. https://eurasianet.org/us-officials-shake-up-anti-american-sco-summit-narrative

For years, the SCO has been looking to bypass the USA and its dollar, so this is no surprise.

Notice number 13 from my list of:

13. US Dollar Dominance will Decrease

Consider the following curse from the Book of Leviticus:

19 I will break the pride of your power; (Leviticus 26:19)

While the above undoubtedly has military & economic possibilities, consider that the US dollar is the pride of the USA’s power.

It is backed by nothing.

So, it is a prideful thing–plus it does project US power around the world.

Debt, trade, weather, morality, leadership, sanctions, bullying, and other issues have given various nations motivations to work to dethrone the US dollar as the world’s primary trade and reserve currency.

The economy of the USA has been financed, to a significant degree, by foreigners willing to provide goods to the USA on credit as well as the USA profiting from much of the rest of the world’s international trade that is dollar-based.

When the US dollar ceases to be the world’s primary reserve currency, this will foster massive inflation.

Having the world’s premier reserve currency essentially brings benefits to the USA that have included making money on international trades that the USA otherwise would not be involved in, less inflation, a subsidized economy, lower borrowing cost, a more attractive investment market, and getting many goods from foreign lands at less cost than otherwise. …

The time will come when the US dollar is dethroned and this will inflict great pain, though not the “greatest pain” that the North Koreans want, on the USA. But shortly after the US dollar becomes close to worthless, the great tribulation (Matthew 24:21) will come and the USA will be no more (watch Do these 7 prophesies point to the end of the USA?).

The Europeans, BRICS’s nations, Iran, Venezuela, North Korea, and others want to dethrone the USA dollar. …

The USA has been gambling with its currency for many years through its policies and using it as a weapon.

Its leaders basically think that they can continue to get away with it.

But one day they will not (cf. Habakkuk 2:6-8; Commentary on Habakkuk and the End of the United States). …

Dethroning the US dollar will cause massive economic problems for the USA. Much more than almost anyone believes. The standard of living in the USA has been raised/subsidized for years because of the status of the US dollar. That status is weakening. This will ultimately severely hurt the USA.

We are approaching the final time of the Gentiles. Yet, most of the mainstream media seems oblivious to this as they do not respect the Bible nor understand how world events are aligning with many of its prophecies.

Getting back to Russia itself, it reported that it is a major producer and holder of gold:

2 September 2026
VLADIVOSTOK, Russia (Sputnik) – Russia ranks third in the world in gold reserves and second in gold production, Russian Federal Agency for Mineral Resources (Rosnedra) deputy head Aslambek Germakhanov said on Wednesday.
“The Russian Federation ranks third in reserves and second in production [of gold],” Germakhanov said during the Eastern Economic Forum. https://sputnikglobe.com/20260902/russia-ranks-third-globally-in-gold-reserves-second-in-production—rosnedra-1124663239.html

Whether or not Russian authorities realize it, the Bible shows that gold will have value after the USA is conquered (cf. Daniel 11:39-43; Revelation 18).

Related to the SCO, have the following related video:

15:28

Shanghai Cooperation Organization and Prophecy

A Gentile organization known as the Shanghai Cooperation Organization (SCO) recently met. Statements were made about trade connectivity and risks associated with using the U.S.A. dollar for international payments. The SCO currently comprises eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan), four Observer States interested in acceding to full membership (Afghanistan, Belarus, Iran, and Mongolia) and six “Dialogue Partners” (Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka and Turkey). In 2021, the decision was made to start the accession process of Iran to the SCO as a full member, and Egypt, Qatar as well as Saudi Arabia became dialogue partners. Some of the objectives are consistent with the BRICS group of nations (Brazil, Russia, India, China, South Africa), which according for former Brazilian President Lula, was formed to bypass the U.S.A. dollar. Are there military aspects associated with the SCO nations? What about China’s One Belt, One Road’ project? What about biblical prophecies involving “Gentiles,” “kings of the east,” “people from the north,” kings “from the ends of the earth,” and Armageddon? What will happen to the USA, UK, Canada, Australia, New Zealand, nations in the Middle East, and Europe? Is there bad news before the good news of the Kingdom of God? Steve Dupuie interviews Dr. Thiel about these matters.

Here is a link to the video: Shanghai Cooperation Organization and Prophecy.

The time will come when the USA dollar will be worth no more than the scrap/collector value of the cotton-paper it is printed on.

Steps to bypass the USA dollar continue to happen.

As Jesus said: “And what I say to you, I say to all: Watch!” (Mark 13:37).

Some items of possibly related interest may include:

26 items to prophetically watch in 2026 Much is happening. Dr. Thiel points to 26 items to watch (cf. Mark 13:37) in this article. Here is a link to a related sermon: 26 Items to Watch in 2026.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What About Silver? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? Do you really know what will happen to Europe and the English-speaking peoples? What about the peoples of Africa, Asia, South America, and the islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon;  When Will the End of the Age Come?;  Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill?  Are there any prophecies that he has already helped fulfill?  Is a Donald Trump presidency proving to be apocalyptic?  Three related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency and  Donald Trump and Unintended Consequences.
Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies?  Is Donald Trump going to save the USA or are there going to be many disastrous unintended consequences of his statements and policies? What will happen? This is a free eBook.