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"Isolated" Russia Begins Testing De-Dollarization-Driven Payment System
Having announced its intention to create an alternative to the SWIFT payment system (following calls from Western politicians for SWIFT to cut off Russia - which the 'independent' firm rapidly denied), Russia recently said it would be ready in May. However, it seems the rapid drop in the Ruble (and the Yuan in recent days) has escalated the need for this de-dollarized payment system and, as RT reports, Russia’s Rossiya and SMP banks, which fell under Western sanctions, are among the eight lenders that will start testing the country’s new national payment system on December 15.
Russia’s Rossiya and SMP banks, which fell under Western sanctions, are among the eight lenders that will start testing the country’s new national payment system on December 15.
"The pilot project involves SMP Bank and Rossiya Bank, those for which the story is very critical and important. These are quite large banks,” the head of the Russian National payment system (NPS) Vladimir Komlev said in an interview with Rossiya 24 TV.
The move comes as a part of Russia’s ambitious initiative to move away from the Western dominance of its financial markets. Last month the Russian Central Bank said it would have its own international inter-bank payment system, an alternative to the global SWIFT network up and running by May 2015.
...
Another bank involved in NPS testing is Russia’s second largest VTB. Recently its management has been vocal about the need to make Russia’s financial system more self-sufficient and ditch the US Dollar, Vedomosti reports.
...
Komlev said the new system’s principle of operating will remain the same. The use of the existing formats will be more convenient for banks; they won’t have to reconfigure their software.
The latest version of the NPS technology is being tested by the Russian Openway Solutions company.
"The modules themselves are something unique, independent, only partly related to the Openway. Now all this belongs to us: our code, the knowledge of how the system is built, and its logic. We are able to develop it and provide support," said Komlev.
NPS was established in 2014 after a number of Russian banks were hit by US and EU sanctions. In March international payment systems Visa and MasterCard stopped servicing cards issued by the banks following the introduction of the sanctions.
* * *
It appears that as sanctions and oil-price-declines pressure Putin, he is accelerating his gold-hording de-dollarization as unintended isolated consequences boomerang back at the US Dollar's hegemony.
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YOU GO VLAD! FUCK THESE SOCIOPATHS!
About time.
Russia is abiding by US anti-monopoly legislation.
2015 can't come soon enough
Vlad needs an App for this.
Maybe a clearing-house delivery for Au/Ag delivery on demand for the ruble set up with Amazon (if you should ever care to take delivery)....and then watch them squirm....
Not AMZN. Not EBAY. BABA? Maybe.
Nothing would be up in their grill like AMZN...lol*
*but yeah, baby steps
Regardless of one's favorites in the Great Game these days, two thoughts come to mind.
1.) Don't poke a big animal in the eyes with sharp sticks. It will bite back.
2.) Don't wish for something with some "clear" "Unintended consequences" you really haven't thought through and don't really want like "forcing" de-dollarization when it too, will come back and bite.
Very hard. Badly.
Sometimes I really begin to wonder just what the whole "plan" is other than to just plain fuck up the West. To completely dissolve the very fibers of Western Civilization.
Seriously
If that's not the goal then some very powerful people can seem certifiably mad when viewed through some not so odd prisims.
plus one for using the term " great game"
Most Dangerous Game could be a better reference........
The great game refers to ""The Great Game" was a term for the strategic rivalry and conflict between the British Empire and the Russian Empire for supremacy in Central Asia"
Which is now the American Republic of corporate greed and destruction against Russia/China
I was amazed at how all the BS held together BEFORE the Russia problems began.
"If that's not the goal then some very powerful people can seem certifiably mad when viewed through some not so odd prisims."
Not the first time it's happened. European civilization cut its own throat just because some Arch-Duke had bad security arrangements, and some banksters wanted sweet sweet tax backed war loan payments. Free hint: When someone tries and fails to blow you up, leave town.
also: If you try to blow someone up and fail, you should leave town just in case
D'OH!
Well, learned something new, I did.
I think the plan is to get every nation a central bank in the system set up by the Rothschilds. That is "neoliberalism". In banking, a "conservative" nation is one in which the nation's powerful families control the nation's banks, and a "liberal" nation is one in which the nation's powerful families allow outsiders into the nation's banking system. The outsiders, of course, are all in the Rothschild system, and once in, they take over. If they can get all the nations in the world into the one Rothschild system, then the global game of Risk is over, because that system can control everybody.
. . .because that system can control everybody OR DIE CANCEROUSLY.
That sounds like what the herpes virus does to the nervous system.
Better example: Hepatitis, headquartered in the liver. When infected, it destroys the body's homeostatic mechanisms and poisons everything, eventually killing the host.
I keep banging at this, but it's important to remember that the con men who poison societies are clinical psychopaths. Their decisions are not rational. I once worked for an organization that had marvelous potential but was ultimately wiped out because it was hijacked by a psychopath. Psychopaths are innate destroyers.
Political Ponerology: A Study On The Natural Of Evil Adjusted For Political Purposes
"...If the many managerial positions are assumed by individuals deprived of sufficient abilities to feel and understand the majority of other people, and who also exhibit deficiencies in technical imagination and practical skills - (faculties indispensable for governing economic and political matters) - this then results in an exceptionally serious crisis in all areas, both within the country in question and with regard to international relations. Within, the situation becomes unbearable even for those citizens who were able to feather their nest into a relatively comfortable modus vivendi. Outside, other societies start to feel the pathological quality of the phenomenon quite distinctly. Such a state of affairs cannot last long. One must then be prepared for ever more rapid changes, and also behave with great circumspection." (2nd. ed., p. 140)
Of Course.
And in India you have Raghuram Rothschild Rajan in control.
He has already swiped-- errrr, sorry, swapped their gold.
Sometimes I really begin to wonder just what the whole "plan" is other than to just plain fuck up the West. To completely dissolve the very fibers of Western Civilization.
Siriusly.
Better.
Christianity did that - taking over the Roman Empire, rode the Currency Devaluation and Disintegration into the Dark Ages - where Dogma reigned over Reason.
Technology of the Day was lost for nearly a THOUSAND YEARS until the Ages of "Reinassance and Enlightenment" started to rediscover and progress the Sciences.
If the Fundie Quasi Christian Cults that brandish various forms of Relgious Israelism have their way, we may revert to this.
Down votes!!
Better read up on some History, Folks.
Yes and this all came about by blind chance: https://www.youtube.com/watch?v=5VefaI0LrgE
I don't think so; but I do KNOW that Constantine's 4thCentury CE Project called "Christianity" had nothing to do with it!!
However, I do find the DNA Replication Vid interesting. If it were applied to Xianity, we can say it's includes "Genetic Material" from:
Horus, Attis, Mithras, Dionysus, Dagon(Fish Mitre), Zeus, Chrestus Movement, and Judaism (since the Xians HAD no Point of Origin in their Theology ) - ^_^
Q: Why do you think they referenced a point in time hundreds of years into the past; and tie it to Judaism?
A: To dupe the Iliterates. No writer/politician/historian in the 1st CE ever wrote of (as in confirming, denouncing, commenting, analyzing, etc.) Xianity. Judaism's Messianic References were ideal plausible venues to establish a stronger Historical Fraud Argument and Hijack a Religion.
The Final Baseline Entities (several versions of Xianity were existent in the onset) became a Chimeric Virus Collective hell bent to assimilate, convert, and exploit All...from within the Empire to Beyond.
If that's not the goal then some very powerful people can seem certifiably mad when viewed through some not so odd prisims.
What if it is both? This has been repeated throughout history.
Yet the sheep never seem able to recognize nor understand how they should respond when the apex predator has become the rabid wolf...
Ron Paul has poked the monster in the eye many many times. It's all in how much a threat they see you. Does the religious moolahs run Iran or a wealthy group of folks. The same is true of Russia. I think the real power in Russia is 200 or so wealthy families that probably go back to the 1920's or so.
Here comes the War...
https://www.youtube.com/watch?v=wwJOu8assI4
My go-to band since the 80s-- the New Model Army, home in the 51st state of America.
Vlad is the sociopath, Bob.
However, he said Zero Hedge posts aren't enough - he wants you to buy rubles too.
http://www.presstv.com/detail/2014/05/22/363676/us-secretly-selling-nukes-worldwide/
5/22/2014
"48 hours ago, the retired chief of Russia’s counter-intelligence effort for the Middle East released a highly classified report designed to embarrass the United States and demonstrate their servitude to Israel and complicity in broad acts of nuclear proliferation.
The report, loaded with “shock value” intelligence and backed by reams of supporting documents including classified nuclear weapons plans demonstrated that Russia has been able to maintain a high level of penetration of not just American nuclear weapons labs but security agencies as well.
ROUND ONE, 9/11
The report, carefully structured for maximum shock value, begins with 9/11, the watershed event of our era:
“The type of nuclear devices used on 911 were a modified version of the W-54 nuclear artillery shells that were covertly provided to the Israelis between 1988 and 1998 from US surplus stockpiles illegally exported during the Bush/Clinton era.
Chemical analysis done by DOE Sandi was able to identify the chemical/radiation footprint or fingerprint of the warheads based on samples taken after 911 of the fallout at ground zero.”
According to the report, 911 was an Israeli operation facilitated by blackmail of Bush 41 and 43, threatening them with “outing” for their personal financial involvement in the sale of 350 primarily w54 nuclear artillery rounds, sold through Israel but distributed to a number of nations.
The Russian report further outlines that NATO partners, particularly Britain and France, were involved every step of the way. 911 was cover for stolen gold, stock fraud and the looting of the American economy. The “wars for profit” were the Bush boys cashing in on their own.
THE “HOW” OF 911
A number of theories have been introduced to explain the mysterious effects seen at ground zero on 9/11. In an article on the Press TV website, evidence of a widespread cover-up of an epidemic of radiation exposure-related cancers tied to 9/11, was presented.
Not only has Russia confirmed the Press TV findings, they present evidence of nuclear weapons use, evidence from a suppressed report based on findings by the Department of Energy’s Sandia Laboratories..."
It's by Gordon Duff, so you expect a few tantalizing ties to reality (like the vaporizing steel columns that we have seen the video of) plus a huge load of crapola.
ZH vote encouraging
ruh, roh shaggy.
Off topic.
How much do you fine folks reckon Gold and Sliver will get slammed by the US open? I wish there was a battered metals shelter nearby.
Daddy is coming home and he has been drinking.
will offer refuge
to any 999 bullion that comes north...
I have been much less aggressive lately about preaching here to buy gold and silver. Mainly because I have bought all I need, and so have felt less pressure to pass along my opinion.
But, anyone without (or enough) gold should be looking to buy as long as you can put up with the paper price volatility and have a long-term perspective. Platinum and silver work almost as well, especially if you already have gold.
Bullion is better
by the 5 gal bucket....
DCRB... thanks for your comments over the years... FOFOA is an interesting read... be safe in the new horizon of what is to come....
So, if there are any US patents on the format of the transactions, and the transaction process itself between banks, my guess is the Russian banks aren't gonna pay royalty fees for the use of the technology and software.
You have patents? But, they're sanctioned, so we're not using them, you see. It just "looks" like the same file format, but it's really not.
Too fucking bad.
This transcends mundane patent law. My guess is something like eMule or eDonkey, transmitting individual packets that are impossible to identify, collect or spoof en route to their destination, and which only the receiving machine knows how to assemble based on a key that changes constantly. It's probably a bit more sophsticated.
Canada has already initiated currency agreements with the Chinese. Wonder if the Canadians are negotiating to hitch a wagon to this star.
fuCK Your SWiFT.
BIS getting SWIFT-boated.
To be expected, given that sociopaths and psychos (NWO types in DC and NY) don't play well with others.
i'll huff and i'll puff your house of cards down, ha...
middle class amerikans
have been on a de dollarization program for years
they don't have any dollars to spend
just lotz of debt to contend with..
"they don't have any dollars to spend..."
and more sadly - no understanding and thus no Silver.
Never been a vocal proponent of bitcoin, but if they want a quick and secure system I would have thought a blockchain based transaction facility like those of any crytocurrency in circulation today would have been much easier to implement. Being decentralized, it would also encourage adoption too by the BRICS and others.
Almost every day recently I have been experimenting with (and learning more about) Bitcoin. It still seems very early in its history, and so there are bumps in the road.
But, it's diversification of another kind.
Any ultra-rich entity can easily hire a botnet to hijack any current blockchain.
Persona software allows one person to appear as many. Each fake persona can have a bitcoin (or any coin) wallet. These accounts can trade amongst themselves to give the illusion of a functioning market.
Again, loads of money + a half-assed hacker = hijacked blockchain.
This does not violate any security in the code, it is an inherent weakness few speak of.
One company that made such software for the DoD already: https://en.wikipedia.org/wiki/Ntrepid
Great. The U.S. Army paid $3 million of my tax dollars for their worthless Hasbara Management Software. What next?
That is not 'hijacking' !! It is using ... that same botnet will be paying fees (small) for the use of the blockchain.
It will still remain functioning for everone else too - so it has not been hijacked, even if some player starts using it a lot (with or without a botnet)
If so things can go back to barter system, more local and free of big manipulators influence.
If you can't hold it in your hand, it ain't worth @#$%
It's not funny anymore. I thought we were getting showers, instead..........
This game of chess is not a game anymore and we are running out of time.
Keep stacking.
'
'
'
Yeah, we're getting showers alright, I just wish they'd wave it around a bit…
I seem to be getting it all.
•?•
V-V
Glad somebody got my humor. :). Nothing worse than being pissed on.
"It's better to be pissed off than pissed on."
Great changes do not often happen as a matter of course, they happen when the choice of submission or survival is forced on people. Putin is in that situation now. He seems up to the challenge.
change only comes by necessity
often by way of crisis..
Vlad's a pariah that only other pariah states now wish to associate with.
His ostracism continues, which is why assets continue to flee Russia and the ruble has lost so much value.
Putin reminds me of Brian Bosworth.
I remember when he played for the Seahawks and Bo Jackson ran through him like he has Saran Wrap.
Edit, Junkers..Where are the devastating hits? The QB is standing in the pocket and baking a nice raisin nut bread...any minute now...he will get sacked...waiting...waiting...waiting....
useless talkings
this is important subject...not of useless gladiator circus
What exactly are "useless talkings", Bob? I sure hope your Russian is better than your English.
Who is Bob? You ever listen to yourself?
Your and most Amer very poor English vocabulary, half that of 1910 Americans.
You are easily fooled.
My English can be better than you will ever know.
Maskirovka
That doesn't make any sense.
"Since July of this year, the U.S. dollar is up about 10% against a basket of other industrialized world currencies. Some say the dollar is up because the Federal Reserve has stopped printing paper money (while other countries are still printing) and because the Fed has said it will raise interest rates in 2015 (while other countries are still lowering their rates).
To me, the dollar has gained against other world countries for the simple reason that other countries are faring much worse economically than the U.S.
But regardless of the reason for the strength of the U.S. dollar, behind the scenes, countries continue to distance themselves from the dollar.
Russia, Turkey, and India Say Good-Bye to the Dollar
More specifically, developing countries are ending their reliance on the U.S. dollar and preferring to trade in their local currencies.
During an interview with Russian Radio, the Indian ambassador to Russia was asked about Russia and India doing trade in local currencies. His response:
“It is obviously advantageous, because trade between Russia and India is now through the currency of a third country (the U.S. dollar) which means business people have to hedge against two different currencies – between rupee and dollar and then dollar to ruble and vice versa. So if you cut out one currency, transaction costs are lower and trade becomes more competitive. We have already a joint working group… which is considering putting this in motion. We hope that it will soon recommend to the two Governments on how to go about it. This we believe will be a major boost to trade.” (Source: “India, Russia will be benefitted from trading in national currencies – Indian ambassador to Moscow,” Russian Radio, September 22, 2014.)
Turkey and Russia, are also working together to increase trade among each other in local currencies. The Russian-Turkish Intergovernmental Commission said, “The working group on financial and banking cooperation…is to continue its work to eliminate them and increase the volume of payments in the national currencies of Turkey and Russia.” (Source: “Russia, Turkey Agree to Boost Payments in National Currencies,” Sputnik News, November 26, 2014.)
The three countries mentioned—Russia, Turkey, and India—play a critical role in global trade and are part of the G20 countries. China and Canada are working on trade deals in non-U.S. dollars; so are other countries.
Central Banks’ Exodus Away From the Dollar
While countries are working to trade in local currencies, when looking at the U.S. dollar as a percentage of total global central banks’ foreign currency reserves, it is also declining.
In 1998, central banks around the world had $1.64 trillion in total foreign exchange holdings—54% of this amount was in U.S. dollars. Fast-forwarding to 2013, the U.S. dollar only made up 32% of all foreign exchange holdings at the central banks. (Source: International Monetary Fund COFER, last accessed December 2, 2014.) It couldn’t be any clearer: foreign central banks are reducing their exposure to the U.S. dollar.
To protect wealth from the deteriorating dollar, I’ll say it again: investors should be looking at gold (especially at today’s depressed prices), because gold is the only currency that has provided wealth preservation longer than any form of fiat currency."
I agree gold is one of the few safe havens ....... though I'm playing the GSR myself as a proxy, may convert later ...... but as folks here in SEA don't seem to know there are other PM's....... as such the price of Au would appear to have increasing potential to move dramatically when the 1% of 4 billion yellow and brown folks figure out why their financial ring pieces have so much wear and tear (sorry but seemed appropriately accurate) courtesy of the red shield group of psychos in the western banking mafia.
the U.S. dollar is up about 10% against a basket of other industrialized world currencie
-it's wrong
a basket of other industrialized world currencie are down about 10% against the U.S. dollar - this is right
It's hard to disagree with the contention that the dollar's days are numbered. However, Zero Hedgers for the most part are like biblical characters heralding the Second Coming as if it were tomorrow. It's not. The dollar will be no doubt fade, but it ain't going to happen overnight, and there might not even be a single catastrophic event to point to. It may just slump over the course of many years, much as the British Pound lost preeminence.
Yeah, Everyone has a plan until an asteroid hits em in the nuts.
Additionally, trading ruppes for rubles and vice-versa is highly inflationary for one of the trading pair as they both try to screw one another. With the dollar as a go between, it midigates some of this for both parties. We have a new world currency, it's called the dollar. (I hate them as much as the next guys, but they are not going to just throw their money making monopoly out the window they've been building for 100+ years.)
We de-dollarized some folks.
Anti-Russian sanctions drive rapid de-dollarization
http://failedevolution.blogspot.gr/2014/09/anti-russian-sanctions-drive-...
Angola on the road of de-dollarization
http://failedevolution.blogspot.gr/2014/11/angola-on-road-of-de-dollariz...
thanks for the links, nomorebanksters.
Thank you!
Angola.. cool. I spent a summer at a school in Mississippi with the son of the at the time Ambassador of Angola. True story.
Tell it again, bro.
De-dollarization? How dare they? Clearly the US needs to sanction them also, if they don't stop this nonsense and they don't sanction Russia.
Pretty soon, the US will sanction almost all countries, except for Australia, Canada, UK, and... Israel of course. And then they'll see how they like it.
Obama is sanctioning Israel:
Reports: Obama Mulling Sanctions on IsraelRussia actually has a huge amount of US paper currency in it's territory, at least in hundred dollar bills. That's saying something compared to the drug lords in latin America.
Fuckin Aye. Get those banksters jumpin. Putin.
Move em in. Head em out ...
With any luck we'll get a cloven hoof or two to take to the wing.
http://wtfrly.com/2014/12/09/dead-banker-37-london-banker-impaled-after-...
There is many bankers listed there.....
I am wonder...
Why Russians not falling?
Clumsy Bear even land on feet
Sharp guy like that probably read the Hedge. He probably read this comment (http://www.zerohedge.com/news/2014-12-07/riddles-surround-36th-dead-bank...), but then took no action because he "knew" he wasn't on the list. But he was next on the list. So I'll again say to you bankers that have been doing God's work,
"Ask yourself whether, at this relatively late date, you're more valuable dead or alive to them?
You may have done good work , but you're now expendable and you know it. Isn't it time that you started looking out for yourself and your family, instead of them?"
That guy in London didn't think he was next, and neither did ol' Geert. But they were. Are you next? You sure about that?
I wonder what they have planned for you. They seem to be getting more . . . creative.
Pleasant dreams, asshole.
Yeah people just fall out of 4 story windows in swanky apartments in London.
Let's just hope that the Russian gov's rollout of its new payment system goes more smoothly that the US gov's recent rollout of Obamacare.
Russia is the target now but every nation in the world must be watching how the sociopaths use their childish sanctions to destroy a country and foment instability. Only surprise is that anybody still uses dollars.
Russia is the mother lode. They have endless resources, land, land for food, a fairly educated populace (comparable to many northern European countries0, they have a workforce who are probably pretty good, computer programmers who are among the best of the world, lots and lots of gold-gas and oil too.
Putin kicked Soros oligarch red shield dual citizens buddies out and they want what they stole back in their hands. I really really hope the Russian people understand that.
they have endless resources
endless resources
endless
Something about WW4 and sticks... Humans seem to be incapable of limiting their vision (to what actually exists).
To be fair, we do have endless resources when systems are managed sustainably - producing enough energy to maintain and duplicate said system in its life. Nothing to do with location and everything to do with resource allocation and management.
(Everything else is spot on; Soros etc)
You still use dollars. Nuff said.
.
We should be so lucky.
That's the Almighty Dollar.
It will collapse as soon as we run out of zeros.
swift is just a messaging system
Just like email.
anybody can set up a replacement messaging system.
This is as dumb ass as it can get.
it's not that easy if usa contronls most of banking system.
First you need access to bank, second you need access to banking system, third - you need to do it.
It's long way and USA can put sanction at you or bomb or kidnap or ... in every moment.
H.R. 758...? Just wait until January, when it's full-on Limbaugh, balls-deep in the Wolfowitz Doctrine... Pick up a bug-out bag or three for your closest buddies - soon.
Read this, http://www.4thmedia.org/2014/12/terrified-france-warns-russia-of-obama-t...
Atticus, as i read your link, which does fit well within the range of possibilty in this mad global power play, i was disturbed by the structure of the verbiage... i had seen this before, only in different form. My suspicion was confirmed when i saw the authors name, Sorcha Faal. Research this backplowing, deck licking hoaxter who has made a career of quoting imaginary "insider russian military sources", sources that upon review appear to be imaginary. He-she (quite literally) has been spinning these yarns since at least 1999. Just saying, though the plots become more believable with every passing year.
Hollande did make an almost suprise visit of an urgent nature on that day to Moscow to meet with Putin. We know that did happen. What it was about, we do not know but it appeared to be pretty important.
@ Atticus Finch
Nufink surprises me anymore but reading between the lines the EU are beginning to question their role as stooge puppets of the devil incarnate the USS of A. that Bastion or Metropolis of Evilness.
Unfortunately desperate neocons will take desperate measures to cling on ( fucking clingons ) to POWER at ANY COST.
Sorcha Faal? terrible
not as bad as nyt, bloomberg, etc...
It's always difficult to know how much truth there is in these scattered news reports. I see Freddie says that Hollande did visit Moscow at that time, so maybe ... ...
Whatever, it has long been my view that Washington and its lackies like Westminster do want regime change in Moscow because Putin won't play their game of selling Russia out to Western carpet baggers and banksters.
A "terror spectacular" would be the obvious way of beginnning that process. Which leads me to ponder: whatever happened to MH-370? How's the search for that coming along? And will Moscow be the target of said terror attack? Or will it be some other carefully chosen country which is a NATO member to trigger a response from Washington?
And at the same time a bank-run is underway
http://beforeitsnews.com/gold-and-precious-metals/2014/12/the-mother-of-...
Must be coincidently
That is a very good article you posted.
I hope Tyler picks it up.
I wonder... Can a foreigner setup an account individual or business with SMP? I mean its obvious they want to be able to tell the US to eff off. But are they not regulated to some extent by the Patriot act, and tax treaties with the US? Your account could still be seized by US agencies no?
the Russian National payment system (NPS) is a system working completely inside Russia (all processing inside RUssia) at start
Second visa, master,Unionpay and japanese will need to make contract with NPS to work inside Russia
Whole point of this system - USA can't get access to accounts inside NPS - basically it's means if Russia say fack off - usa fack off. It's like Snowden.
Your account could still be seized by US agencies? - no
Fuck the US
I say that often but what I really mean are fuck the clowns that are in charge of the US.
Fuck the DC US!
An American, not US subject.
"Guillotine them all and let the Devil sort them out."
No, fuck YOU, Bob.
Who's Bob?
Bob's your uncle...
I'm guessing it's Bob Barker, after spending many years cheering and rootin at the daytime TV. Then he saw Happy Gilmore and started idolizing "Bob". Now its an uncontolable projection.
Idolization is a projection of hero-worship wherein a person projects his divine needs onto another, attempting to make the other into a god.
Kinda like catholic priests?
Who is Bob?
What about Bob?
https://www.youtube.com/watch?v=ptmP1lziJw4&html5=1
Speculation:
ZWO pokes putin in the eye with a stick until everyone loses.
A chink of light in a sea of shit&piss.
After Libya and Iraq tried similar initiatives I'd say someone is about to get FreeDumbed....
freedumbs ain't free
Sheesh, tough crowd.....The Putin Love is strong here. Just stating what has happened before.
At ease soldier. This shit show will get started soon enough.
It's funny, because I remember watching Dmitriy Medvedev give a speech several years ago begging the Russian finacial and money people to diversify the Russian economy or else. Well, that day has come.
CLEARLY YOU MUST BE DOWNVOTED FOR THIS ATROCIOUS (yet prophetic) STATEMENT
Right in time for Santa's DOW 18K.
The world turned upside down.
Russia's central bank has admitted it intervened to support the rouble in foreign currency markets last week spending a total of $4.53bn (£2.9bn).
It has spent more than $70bn supporting the rouble since the start of the year.
Its admission came as the World Bank warned the Russian economy would shrink by at least 0.7% in 2015 if oil prices do not recover.
Both the currency and Russian share indexes fell on Tuesday as global oil prices fell to a new five year low.
Rate rise?
Russia has been forced to defend its currency as Western sanctions, in response to its role in eastern Ukraine, and falling oil prices begin to bite.
But analysts suggested it may take a significant hike in interest rates to stop the currency from further falls as well as surging inflation, which stood at 9.1% in November.
"The CBR [Central Bank of Russia] simply is not doing enough to convince the market that it is serious, using a pea-shooter in terms of current piecemeal intervention," said Standard Bank analyst Tim Ash in a note. "It will need to hike rates significantly to defend the rouble, or let the rouble further weaken."
The bank has already raised interest rates by 1.5% in October to 9.5%. It is expected to raise interest rates further later this week.
On Tuesday the rouble fell by 0.9% against the US dollar to 54.25 roubles and lost 1.1% to 67.00 against the euro.
'Speculative demand'
Sberbank foreign exchange and rates chief strategist, Tom Levinson estimated the Russian central bank spent a further $300m to support the rouble in the currency markets again on Monday.
He added that the interventions had prevented the currency from trading much nearer to 60 roubles against the US dollar. But he said the rouble would be "unable to sustain lasting appreciation".
In November the central bank announced it was going ahead with a free float of the rouble by abolishing its unofficial link to the euro and the US dollar. It also announced it was ending automatic interventions to support the currency, instead propping it up only when it was deemed necessary.
The bank had previously supported the rouble when the exchange rate against the euro and dollar exceeded certain limits.
At the time the CBR's chairwoman, Elvira Nabiullina. said the bank would instead intervene in the currency market "at whichever moment and amount needed to decrease the speculative demand."
The bank has said it hopes to achieve a full floating exchange rate in 2015.
Economic woes
Meanwhile, the World Bank forecast Russia's economy would shrink by 0.7% in 2015, but warned that the contraction would be worse if oil prices were to keep sliding.
The World Bank said its forecast is based on a scenario of crude prices averaging at $78 in 2015.
But if oil prices fell to $70 on average, Russia's output would shrink by 1.5%, it said.
Russia's reliance on tax revenues from the oil industry makes it particularly sensitive to price movements.
It warned last week, the Russian government warned the economy would fall into recession next year.
Russia's economic development ministry estimates the economy will contract by 0.8% next year.
It had previously estimated the economy would grow by 1.2% in 2015.
Stock price fall
Both Russian stock indexes also fell heavily in response to the plunging oil price.
The dollar-based RTS fell 1.9% to 854 points, having earlier set a new five-year low of 847 points. The rouble-based MICEX index was down 0.7% at 1,471 points.
Brent crude fell 0.7% on Tuesday to $65.75, extending Monday's steep decline.
Oil has fallen around 40% since the summer as a result of over supply and weaker global demand, particularly from China, the world's second largest consumer of oil, where industrial production has slowed in recent months.
An OPEC meeting at the end of November, which discussed cutting oil production to half the slide in oil prices, broke up without agreement.
How Putin will feel in a few months:
https://www.youtube.com/watch?v=wMP7wzMW4_s
Russia is blaming anything and everything for Russia's failing currency. Aw, heck, currencies are overrated anyway....
It's time for currency controls, Vlad. That'll fix 'em!
Have you not noticed that there have been considerable economic sanctions applied to Russia.
If you guys mess with Vlad too much, he's going to screw himself up real tight and fart a real stinker (no, that's not code for something else - we're just talking an old-fashioned fart here).
So knock it off - don't make Vlad leave a brown streak in his shorts!
P.S. Who's on Vlad's suicide watch tonight?
argumentum ad hominem wins everytime
thanks for proving your wisdom
What do you do for a living, AP?
Honestly now. Scout's honor. AP honor.
It would be a shame if their Russian swift system got hacked and folks lost faith in it.
seems like the west control is over.... the kings of the east are coming...
Ball's in the Zionists' court.
History tells us that they have pretty much three options available: War. War. Or even War.
An American, not US subject.
Hotel Western Bankster
...
Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
"Relax, " said the Zionist man,
"We are programmed to receive.
You can check-out of SWIFT any time you like,
But you can never leave! "
Woo hoo! Another FACTA tyranny exempt country coming up.
I wonder how many billions will flow to Russia just based on the FACTA tyranny alone?
An American, not US subject.
Depends on what you mean by isolated'
Norwegian Companies Continue To Supply Russian Oil Rigs
U.S. Using Russian Rocket Engines For Spy Satellite Launches
Russia Helps Belarus Into WTO Through U.N. Fund
Finland’s Parliament Votes To Build Nuclear Plant in Pyhäjoki By Russian Consortium
Russia’s VSMPO Passes FAA Audit As Supplier For Boeing
Australian Tigers Realm Says Thier Coking Coal Mine in Russia Up and Running in 2015
http://newworldorderg20.wordpress.com
Depends on what you mean by isolated'
Norwegian Companies Continue To Supply Russian Oil Rigs
U.S. Using Russian Rocket Engines For Spy Satellite Launches
Russia Helps Belarus Into WTO Through U.N. Fund
Finland’s Parliament Votes To Build Nuclear Plant in Pyhäjoki By Russian Consortium
Russia’s VSMPO Passes FAA Audit As Supplier For Boeing
Australian Tigers Realm Says Thier Coking Coal Mine in Russia Up and Running in 2015
http://newworldorderg20.wordpress.com
While it is a step in the right direction, and absolutely the right thing for Russia, this will be totally useless for de-dollarization.
Dollarization is not just a payment system where currencies are converted to dollars before payment. Dollarization refers to the fact that the Dollar is currently functioning as the numraire.
A 'Numeraire' is an economics term with a specific meaning. I'll leave it to you to look up, but in general terms it means a standard of value used to measure all other values.
So, if Russia avoids the SWIFT system - which will limit the West's ability to sanction Russia using SWIFT, and mean Rubles need not be converted to dollars before payment (actually just valued in Dollars) - the non-dollar payment will still have to be converted to Dollars before it can be used elsewhere in the recipient's economy...
So, all this really does is change the point in the economic life of the Ruble where it gets converted to Dollars.
The two major planks in King Dollar are (in order of importance): 1. Suppression of potential numeraire's superior to the Dollar 2. The Petro-Dollar..
If Russia can seduce Saudi Arabia into its orbit, even that will not unseat the Dollar totally. Instead it will make for monetary mayhem with broad, deep, and unpredictable consequences as the powers (or would-be powers) violently compete to install their currencies locally.
If, however, some entity can produce an Numeraire acceptable to all, and superior to the Dollar, then number 2 will end all on its own.
The problem with accomplishing number 1, is that everyone already knows what that alternate numeraire is. But the only alternative numeraire superior to the Dollar will disable too many of the fraudulent schemes the powers that be profit from.
Everyone knows what is the alternate numeraire. They are simply unwilling to relinquish their various fraudulent schemes in order to install it.
Well once everything was measured in inches and pounds, until the rest of the world went to the metric system, football used to be soccer until the demise of the NFL lol....
all your code are belong to us