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Who's Isolated Now? Kazakhstan Authorities Announce Plans To De-Dollarize Economy
Following the approval of the government, Kazakhstan's Central Bank has announced it plans to de-dollarize its economy by the end of 2016. The goal is to avoid the macroeconomic instability that the USD creates and to give priority to Tenge in trade agreements (banning price designations in foreign exchange). Coming just 2 weeks after the ratification of the $100 billion BRICS bank, and Russia's creation of a SWIFT-alternative, one wonders - as one by one foreign nations agree non-dollar trade and swap agreements - who is becoming 'isolated' now?
The Tenge is at record lows against the USD...
Full Zazakhstan Central Bank Statement (via Google Translate):
On measures to reduce dollarization of the economy
March 4, 2015 in Almaty
National Bank jointly with the Government to develop a plan to reduce the level of dollarization of the economy of Kazakhstan for 2015 - 2016 years, which was approved at a meeting of the Government of February 17, 2015. In addition, the plan approved at the meeting of the Board of the National Bank February 25, 2015.
The plan includes three main strategic directions:
- Ensuring macroeconomic stability;
- The development of non-cash payments and reduce the shadow turnover;
- Priority over foreign currency.
In the first direction in the plan includes measures to diversify the economy and increase the local content in goods, works and services.
The second area includes measures for the development of non-cash payments.
In the third direction is provided to increase the size guarantee on deposits in the national currency with 5 million. Tenge to 10 million. Tenge, reducing interest rates on deposits in foreign currency up to 3% annual, providing liquidity to banks and recovery of the banking sector, a ban designation on prices in foreign currency (including in arbitrary units).
Reducing the level of dollarization of the economy is a long process, whose progress is possible with constant and systematic work with a set of interrelated measures and joint efforts not only of the Government and the National Bank, but also of all economic actors.
* * *
With China's earlier statement and now this, today is not a great day for the US reserve currency's future. Just as the dollar emerged to global reserve currency status as its economic might grew, so the chart below suggests the increasing push for de-dollarization across the 'rest of the isolated world' may be a smart bet...
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Kazakhstan? Fed is quaking in their boots...
Well, I'm a farmer, and I'll miss their *best* fertilizer.
Helloooooooo!!!????
Posted this about 50 times now. This is one of the "stans" in the Shanghai Cooperation Organization. This is not a surprise.
And they've also quietly been buying TONS of gold under the radar.
This IS a big deal. And it WILL continue until the dollar is dead.
http://thewealthwatchman.com/united-eurasia-pt-2-the-powerful-organization-that-no-ones-talking-about/
More and more countries (think BRICS) will be brought into this system. Does anyone recall that Russia just activated their anti-SWIFT system 3 months early not long ago as well?
And don't forget that nearly all major Western countries OTHER than the U.S. are starting Chinese yuan currency exchange systems, Canada, England, Australia, etc. "supposedly" our allies, right? Yeah, bullshit and fuck that.
They're all moving away from the dollar little by little until the major countries and their little bitchez can all cut the cord all at once from the petro-dollar system.
After that we Americans are massively FUCKED!!! And this is by design. It's by design of the FED and by design of our treasounous government. Those who don't prepare now by stacking silver phyzz and some gold phyzz along with other essential supplies are FUCKED!!!
<< After that we Americans are massively FUCKED!!! >>
... and that's why the prudent ... the diligent ... the cautious Meriakns are prepared with lots of KY and diapers.
Apparently the "Khazarians" are not well represented in Khazakstan...go figure... the long arm of Hollywood isn't quite long enough.
Lots of Oil and Gas in Kazakhstan that will not be denominated in dollars. Yeah its a a BIG thing. Not only that, the place is on the Silk Road. Why denominate your precious natural resources in dollars and then be subject to the whims of price manipulation courtesy of the J-mafia which runs the fed. Breaking free of the dollar is like a slave breaking free of its shackles and strangling its ex master.
Place your bets on the Central Bank Demolition Derby.
https://www.youtube.com/watch?v=-xdFBewaK78
https://www.youtube.com/watch?v=4WhVBIv90sI
Song and dance is called black horse from Kazakhstan
Below is a cool dance but its from Kalmykia a small Russian province made up of the Kalmyk mongols.
https://www.youtube.com/watch?v=edKXD6sQeCc
nice video. Is that Borat's sister?
Don't denominate the oil price in dollars.
Just use coconuts. Keep everything in "physical" goods.
"The goal is to avoid the macroeconomic instability that the USD creates".
This is the political correct version of: "You won't $uck us anymore with your unpredictable 'policies' meant to exploit your privileged status of ruler of the paper waves "
Many thanks for that link!
Uzbekibekistan...
Did Indian Jones ever go there?
Oh well. To some people who shite on others, (like you) and presume exceptional opinions and judgements n millions of lives. Small concerns of small populations who are on the back-burner for future rape. Meaningless before any assault becomes strategic, Good frigging ? Which idiot lives in your head?
Fed should be quaking, USA should be quaking,
Are you all simple?
Deluded?
It goes 1+1+1+1 every day for years and you still hang around and make idiotic remarks and play "who is most clever?" games while you ignore what the frig is going down.
A few people have cautioned.
Forget what the Central Bank does, they are stooges to President/Kleptocrat-for-life Nazarbayav. But if the hookers in Almaty start refusing USD...
Have you checked the oil reserves of Kazakhstan? The two biggest fields there = all of the oil reserves of the US combined...
http://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves
Borat approve of Kazakhstan. Get lost Obummer!
Kazakhstan number one exporter of potassium.
Very Nice!
All other countries potassium is inferior.
Boy that is clever. How many $$ did the MBA cost for you to get to this lofty opinion?
Everyone lubbs "Muricans 'cause we're so exceptional.
They can't run away from our fiat fast enough.
Will they still show Kardashian reruns?
We need to bring timmah back. He was the only person who could work us through the 2008 crisis. This de-dolarization stuff should be a cakewalk. Much easier than turbotax.
On the otherhand, Kazakhstan has nukes.
They gave them back to the mother country. No nukes there. But the J-mafia crew is a nuke in the American heartland.
They also have Baikonur - currently the only "terrestrial terminus" for those wishing to visit the ISS.
Have no doubt that should their Russian friends want to use Baikonur for "other purposes", they'd be very happy to oblige . . . . .
Why do they want to get rid of cash payments?
Kazakhstan.
WTF Tyler?...lol.
Well it could be the straw that stroked the camels sack.
I know. I know. It's just..... some battles aren't worth fighting. This is probably one of them.
Kazakhstan. Isn't that were Dan Akroyd and Chevy Chase were sent in 'Spies Like Us'?
Well I guess I have to clarify every thing I say now on Igor Durden-Hedge, lest I be accused of "talumdist kiddy fiddling" or some damned thing.
Kazakhstan never left the orbit of the Soviet Union (aka Russia, for the kiddies being fiddled around here these days) and along with Belarus were the sole "partners of Russia" wandering around the ashes of some pure utopian communist paradise on earth...and at 0.0054 to the dollar (a Keynesian matrix of "indeterminate value" to be sure) it won't even register as a fart in a hurricane in central banking lore.
Hopefully I've made myself clear ;-)
May you be deported to a gulag soon. Maybe you will become a tad less arrogant,
I would have to be "deported" wouldn't I? There were never any "gulags" here, like there and I will be arrogant to my last dying breath.
Come Komrade, lets embrace ;-)
nmewn, what is with your anti-russia angle?
Russia has been doing well the last 15 years and its people are happy. They have a leader that does wht is good for Russia and kicked out a heck of a lot of western parasites and oligarchs.
Now I won't call you a gov troll, since it is unlikely, but I must wonder how you may be on Americas side on this (or anything for that matter) and against a country that is growing socially and economically and is doing it in a rather noble way?
What is your PERSONAL (its obvious its personal) reason?
Is it just patriotism to a shitty empire on its end?
He is a wanna be member of the J-mafia.
Russia has done very well in spite of the catastrophe that was the fall of the Soviet Union, along with the rocketing poverty that followed (helped no end by Western profiteering under Yeltsin)
One suspects that this might be one of the prime motivators for the American involvement in Ukraine - where the USA really has no business sticking their collective noses in, yet again.
Never forget, America really likes "competition" - but only when the competition benefits America, and Russian re-emergence is ringing a lot of alarm bells in the halls of the well-connected, who have already "joined the dots", and are scared witless by the picture that has emerged :-D
When I criticize Russia, what is it that you think I'm actually critiquing? Its not the people of Russia is it? And when I do the same of Greece or the EU or America, what is it that you think I'm criticizing?
And piss off. Go write on bathroom walls. You made yourself very very clear.
Piss off...is slang unique to the queens realm.
Thank you, Clarice ;-)
Glad you play so fast and loose with other peoples lives? Must be a graduated exceptional morality that excuses all you do and denies it to others? Gotta consult my Psych text on that but I think there is a disease you got,
You either stand for something or not. I never saw any reason to set my life/culture/nation above another's rights. Riight? So make jokes.
I'm gonna up-vote you because between the two of us, you're the only one who even knows what we're arguing about. You win by default.
He is the Haiku of debate.
You either stand for something or not. I never saw any reason to set my life/culture/nation above another's rights. Riight? So make jokes.
^^^^^ Joke written by: The idiot who recommended deportation.
lol...he's "exceptional".
They may be little, but remember, a man goes bald one hair at a time...
;-)
I've never been big on central bankers anyways, no matter what country.
When the dollar finally breaks, gold, silver and many other hard assets will skyrocket in dollar terms. Watch imported goods become rapidly unaffordable to merikans.
Yeah, I hoping to pay off all my debts with a single gold eagle when that day comes. Trouble is, I thought that day would be in 2012.
I don't want the shit to fly the day after I make my last payment.
I'm making an official complaint to Borat.
Oh, show me around your snow-peaked mountains way down south
Take me to your daddy's farm
Let me hear your dombras ringing out
Come and keep your comrade warm
I'm back in the kazakhstan
Hey you don't know how lucky you are boys
Back in the kazakhstan...
I've learned to hate Russians
All through my whole life
If another war starts It's them we must fight
To hate them and fear them To run and to hide
And accept it all bravely With God on my side
But now we got weapons of chemical dust
If fire them we're forced to, Then fire them we must
One push of the button And a shot heard world wide
And you never ask questions When God's on your side
Robert Zimmerman, 1960
What a bunch of shit propaganda, if mother nature ever heard you say that she would swallow you up in a sinkhole.
Absolutely Western though, and that mindset (God at my side) goes all the way back to The Crusades and beyond.
The scary thing is that "The Opposition" were generally just as convinced THEIR God was at THEIR side.
Seems "Religion" might have a lot to answer for, should there ever be an inpartial "Final Judgement".
Kazahkstan, or however the fuck you spell it, is one of the largest countries in the world. It is also where Russia launches space missions. It is the largest landlocked country in the world. It once rose to prominence due to it's position along the silkroad.
Beyond that it is of little interest.
I once tried to impress a girl with my knowledge of central asia. I failed. Either my knowledge was incomplete, or she just didn't care.
I knew about it being Russia's space launch site, but don't know what else it does.
I also heard about some movie on the TeeVee called Borat. I think he was a Kazak retard...
They export lots of minerals and oil and became somehow rich due to that and having a small population. Apparently the apple tree is native to Khazakhstan.
Your knowledge must have been incomplete. All chicks swoon for a man who really knows Central Asia.
Ah, yes. Poontang still rules the world.
What that government is essentially doing is about the same as trying to force the economy into going off of the gold standard. Look at that decline in value of the Tenge and even the low IQ nutters should recognize that no one would want to hold that currency.
Funny to read the silly posts about how wise people will be to link with a collapsed Ruble and a collapsed Tenge and soon to be collapsed Drachma. Only a collection of real dumb asses would declare it a good event for the population.
This is likely to hasten the fall in value of the Tenge as Gresham's Law goes into full application. Got Zim $$?
Simply the overdone "globalization" phenomenon swinging back to equilibrium.
Setting up a new iron curtain to confine the people, while the oligarchs use secret passages through the iron curtain to line their own pockets.
Rich get richer. Poor get poorer. Working man works harder to pay for them both.
Khazaks are the world's eagle hunters.
http://www.boojum.com/extras/eaglehunt.html
Kazakhstan jumps from one flawed system into another:
Spain faded into insignificance because they thought “gold” and “silver” were hard assets. Colonial Spain extracted so much silver and gold from the America’s they had inflation at home. Because they “felt” wealthy, they stopped investing in real productivity and developing their inherent talents.
Not understanding what money is - has nation shattering consequences.
Shiny metal is not money. Money has many attributes, namely: Type, Volume and Path.
The highest form of money is “legal” money that matches wealth production. Wealth production in turn is the flux energy of a people and their ability to extract wealth from their lands, given a nation’s inherent talents. Volume of money in money supply should be sufficient to allow for low friction trade, and some savings.
In other words, money is numbers – a legal construct – designed to allow division of labor and for people to trade their output. These numbers must be of the right type, and channel correctly to be of a benefit to a nation’s people.
No nation should have a reserve currency. Something like a Bancor should be used to do the accounting function of international goods exchange. Money should not trade for money – this is two abstractions trading. It is too easy to manipulate volume to then take rents on another economy. Carry trades are an example of this manipulation in action. Shorting FX with bear raids is another example.
So, BRICs are creating another system, but their system also continues with the same flaws. Allowing countries like England to have debt denominated in Yuan’s is breaking the prime directive of good monetary economics. NEVER LET YOUR DEBT POINT OUTSIDE OF YOUR LEGAL SYSTEM.
When your debt instruments are held in a foreign land, and these debts grow with usury, you have delivered yourself and your nation’s people into slavery. You have no legal recourse short of war to disentangle. We humans seem to be unable to learn from monetary history and hence keep spinning in a swirly toilet of our making.
Money can be metal, but then volume cannot be scientifically controlled relative to an economy’s needs. Also, metal is deflationary as it goes off and hides at first sign of distress. This deflation then screws over labor’s ability to produce and steals their output. Metal can be made to work, but that takes good law, and a good system – probably a demurrage to force metal out of hiding in depressions.
Money may be a division of private banker debt instruments, as in today. Over time, debt instrument will not perfectly mirror its credit, as debts grow with usury. Or debt instrument may path away from its credit, hence disallowing re-union. Instrument holder (banker/ creditor usually) then takes rents on the population.
www.sovereignmoney.eu
I agree with some of your points but to say
The highest form of money is “legal” money that matches wealth production...Shiny metal is not money. Money has many attributes, namely: Type, Volume and Path.
I disagree. The value of what a gold coin will buy will change as it adjusts to wealth production. Gold IS money and it has always been since the dawn of time. Money has many attributes, well so does gold, it comes in different karats, and there are also many other types of precious metals. Gold has nice volume and density to it. Path tends to be at bottom of lakes as long as shitty fiat is around. Once the fiat is gone path of gold tends to reverse and it tends to stay in people's pockets and be used for purchases.
Really, its all about barter. Gold is a barter intermediate and Fiat is but a barter exchange board purposely mismanaged by governments. This focus on the better forms of money is silly. If you want wealth you need to produce material goods and exchange them for others. Figuring out a way to exchange them is the least of your concerns as long as you have physical access to markets.
Beyond theory, no functioning and lasting economic system can be built in any country run by an élite of greedy individuals owning Central Banks and controlling the country's currency.
It's artificial, it's fake, it's far from real economy and a sure path to disaster. It's criminal.
Anybody who knows the basics of Economics understands it from highschool.
What amazes me is the incredible talent they have for fooling so many people for so much time, in Europe, the US...
The plain picture of the Paradox is Tsipras, right these days... "Growing and staying into the Eurozone".
.
The strong dollar is pricing itself out of the currency market.
Maybe I see it differently but, to me, a strong currency is synonymous with demand for it. People are desperately trying to exchange their Kazah kwakiutils for USD and thus the caudillo tries to ban ownership and use of the USD in his realm in hopes that this will ameliorate the further collapse of his fake shekels.
Hmmm...looks like Kazakkstan just joined the "Axis of Evil". Time for another false flag and invasion...
Looks like they need some FREEDOM forced down their throats...
Vlad said Kazakhstan isn't even a real country.
[Translation: you're on our takeover list.]
The Kenyan is gonna need to invade some more folks.
Smart move. If your CB is gonna hold or use fiat, debt-based currencies, it might as well be your own. Or that of a country that's not as likely to do what the USSA does:
Come in, wreck the place, put in a puppet regime and call it 'Democracy', steal its gold and wealth, then keep a large military and spying base for decades to come.
The US DOD/CIA are like cockroaches: once they infiltrate, they never leave. Might as well "tent" the place and do what you have to do to get rid of the infestation.
Not only that but if you accept dollars and they start being used in your country as an underground currency then you are setting yourself up for the USSA to print shit loads of fiat and use them to buy up and create opposition in your country. Those dollars will tend to stay in your country and live a parasite invasion they will destroy it. Just look to see what that parasity Nuland was able to do with five billion of her virus particles in Ukraine.
I don't really cotton to this idea of people not getting to choose their own store of value. If an individual Kazakh wants to own a sawbuck, that is his business and nobody else's.
People can always buy non perishable goods and store value in them. Theres Vodka, industrial equipment, all sorts of base metals, etc. Then of course there is also knowledge.
^ that is anti-ceramic
Interesting Illuminati connections to Kazakhstan.
https://www.google.com.au/search?q=astana+kazakhstan+illuminati+city&tbm...
What happened to UK in 1950 and Russia in 1990? I suspect UK went into a steady decline and Russia declined until Putin took over and it began to improve.
The economy did improve in his first period. Oil production and prices also increased, along with some general efficiencies.
Then the situation changed as Puutie followed the route of almost every ruler with access to oil wealth. First the ruler wants to have control of all of the cash flowing and remain in office. Police state powers are increased along with the decline in rule of law, allowing the ruler to control the population and assets. Wealth is directed to the ruler's close associates with skim off to ruler. Then military is bulked up and strengthened to insure that the ruling oligarchs will not be troubled.
The general end result is that the population that developed the expectations of continual improvement in living conditions become unhappy when that stops and there is decline from mismanagement and corruption. Ruler eventually gets displaced. Puutie may not have as much time left as Obama.
Clean up that "WET DREAM" you are having!
During the benign rein of Joseph Stalin the nomadic populations of the Khazak Steppe were forced to exchange all their ancient gold for food coupons. Under Kruschev the Virgin Lands Campaign was the biggest agricultural and ecological disaster in human history
Tragedy of Aral Sea is a permanent reminder of that Kruschev program.
Nothing different than cali and lake owens and other lakes there. All dried up because of an increase in population.
Russia's isolation... (of the US): RIOTUS
I'm voting for a white man next election.
I'm voting for someone who has actually read the Constitution and did not do so for the purpose of finding loopholes.
My only concern is the workings of their cranium not the color of their skin, the church they attend, or the plumbing between their legs.
Your master plan depends on knowing the inner workings of a complete stranger's cranium. Good luck with that.
What is this actually about?
It is about the King of Kazakhstan, call him what you will, trying to force his own worthless currency down the throats of his unwilling subjects by banning the alternative known as the Almighty Dollar. Very Maduro-ish of him and equally likely to work.
Wonder how the Kazakhs are fixed for TP these days?
Wanna guess how they'll be fixed for TP by Christmas?
TP is overrated and unsanitary. If you were to fall into a septic tank you would not wipe youserlf with dry paper. You would take a shower.
If I were a King of a country, I will back money with Gold and other valuable scarce commodities such as food, energy, oil; ban printing out of nothing, ban fractional reserve and put a Glass-Steagall Act like law, put a cap on taxes in the Law (let's say 20%), forbid death taxes.
Focusing on industries and farming making the nation the most autonomous as possible. Doing things as most as possible by market means.
The government will spend within his means and build a strong military just in case that some "freedom" exporter countries will try to bomb me.
Oh well, I will ban feminism, progressivism, Zionism and socialism related ideologies as well, just to be sure that my nation doesn't go south.
Those who aren't happy can leave freely, no 5th column goons permitted.
This simple program should be enough just to have sufficiently individual freedom room while protecting ourselves from external and internal threats.
OMG between this and the recent NZD/RMB swap I'm suprised that the $US has survived at all. Ha Ha Ha.
Kind of funny that they want to "de-dollarize" with an impending crash or devaluation waiting to happen...
Most banks in KZ stopped even using Kazakh currency Tenge four months ago...
Of course since then, the banks have been issuing loans in US Dollars, exclusively, like quite a few non-state banks in Russia. It's also odd that this move around the dollar comes after Putin banks like Sberbank refuse to do business in Kazakh currency, despite KZ being an "important" and "strategic" economic partner in the Putin dream of "whatever-the-fuck" and "ignore realities".
They do have some pretty good weed growing there wildly, though... so they can always live the Fabulous Furry Freak Brothers' motto...
If they do that, and totally get rid of the dollar, they will have a FATCA-free bank. Think that will attract any deposits?
Deposits...?? Fuck that, I'm moving there!! I hear Kazakh women are smokin'....