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Vladimir Putin Proposes "Eurasian" Currency Union
While the distraction that is the stock market continues to enthrall most Americans, the big shots in the global monetary which for now are taking place behind the scenes, are getting ever louder. Several recent cases in point:
- US Attacks "Closest Ally" UK For "Constant Accommodation" With China
- De-Dollarization Accelerates As More Of Washington's "Allies" Defect To China-Led Bank
- US "Isolated" As Key Ally Japan Considers Joining China-Led Bank
- US Upset At West's Lack Of War Preparedness
- Treasury Secretary Lew Admits US "International Credibility & Influence Is Being Threatened"
One person who is paying attention to the failure of the US to grasp that the unipolar world of the 1980s is long gone, is Russia's Vladimir Putin, who earlier today proposed creating a "Eurasian" currency union which would have Belarus and Kazakhstan as its first members, which already are Russia's partners in a political and economic union made up of former Soviet republics.
As Telegraph reports, Putin made his proposal at a meeting with the Belarussian and Kazakh presidents which highlighted the challenges facing the Russian-led Eurasian Economic Union following the fall in global oil prices and the decline of the Russian rouble.
"The time has come to start thinking about forming a currency union," Mr Putin said after the talks in the Kazakh capital Astana with Belarussian President Alexander Lukashenko and Kazakh President Nursultan Nazarbayev.
Not surprising, considering both Belarus and Kazakhstan have spent a lot of time in the past year alternatively devaluing, and scrambling to prop up their currency.
Putin gave no details of the proposal but suggested it would be easier to meet economic challenges by working closely together. Mr Lukashenko and Mr Nazarbayev did not immediately respond to the proposal in public, but analysts say it is unlikely to get off the ground.
Additional information from RT:
“I would suggest moving step by step, exactly as all EU member states enter the eurozone, gradually creating all these common financial institutions,” Likhachev said, adding that if such an order comes from the member leaders, all the sides will immediately start negotiations.
"That means any slightest fluctuation in national currencies of today’s four and of tomorrow’s five [Kyrgyzstan is about to join the EEU – Ed.] EEU countries, that are related neither to trade nor to demand, create a huge trade imbalance,” he said, adding that officials are looking for ways to smooth these problems out, and trade and industry institutions are in a constant dialogue.
"In the same enclosed space, where goods, services, capital and labor are constantly moving, the existence of different currencies exacerbates the risks," Likhachev said. Apart from the economy, there are also political and social issues that are yet to be discussed, he added.
If and when Russia does succeed in launching a regional currency, and recreating a monetary block in the process setting the foundations, the only question we have is after Greece, which European country will come knocking on the Kremlin's door, asking to be let in?
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Clueless boobs/tools.
Great! Because the European Currency Union has worked out so well. What could possaibly go wrong?
That happens when a unified currency is only cover for banker-driven socialism.
well, that's another smart move..
the revolution will not be televised
or structurally demanded by a global
monetary consensus, good luck bros.
.
Gil Scott-Heron - The Revolution Will Not Be Televised (Full Band Version)
https://www.youtube.com/watch?v=qGaoXAwl9kw
ZH has changed; a little rougher, a little less clever, a little less funny.
+1 for the decent vibe.
"......but analysts say it is unlikely to get off the ground"
LOL, that's a real assurance. Esp if they are US analysts.
https://www.youtube.com/watch?v=y8yvnqHmFds
This looks like a "shot across the bow", not a serious proposal. This appears to be designed to strike fear into the heart of the psychpathic predators-that-be in the USSA, most especially the central banksters.
The FACT is, NO country is better off in a "currency union"... unless the "currency" adopted is "grams of physical gold" with NO other names attached (meaning names like "dollar", "euro", "peso", etc).
For a fictitious "nation" to have their own "currency" is clearly more beneficial, because imbalances in that "nation" will be automatically corrected by the natural forces of "trade".
The fact that any nation is willing to abandon their own currency is proof that the fictional "leaders" of those fictional "nations" are almost as clueless as their fictional "citizens".
Yes the US is fear stricken with the thought of Belarus and Kazakhstan forming a currency union with Russia, seriously?
Thats like saying that that the US fears geting attacked by a brain dead drooling retard...lol you fucking moron
This is stupid.
Bob, it sounds like you want America to fear the drooling retard.
You silly goose!
AMURICAN PATRIOT SPOUT AS YOU CAN . I KNOW YOU WILL COME BACK WITH 5TH ACC ON ZH .
.
That's what I was thinking. Probably some Friday humor on the part of Putin just to see what sort of hysteria on the part of western banksters it morphs into over the weekend.
Gosh Honestann, you shouldn't let your feelings toward all central bankers as a whole out into the open so much. You might get called a government troll or talmudist kiddy fiddler or sumpin.
Oh yeah, Death to America and its zionist host! ;-)
(Thats always good for a green or two...lol)
I fail to see why any one would care.
Belarus and Kazakhstan...lol
Whoa Pootie, you bringing the big economic guns...lol what a fucking joke
As existential threats go, you're threatening a major Goddess.
I hope you liked your balls.
Thanks for the expert opinion, Captain Butthole.
"In the same enclosed space, where goods, services, capital and labor are constantly moving, the existence of different currencies exacerbates the risks," Likhachev said. Apart from the economy, there are also political and social issues that are yet to be discussed, he added
This comment is typical of how modern humans are still hypnotized by bad monetary thought. Money should not leave the borders of your own country. Money ultimately is law, and to have your money leave your borders implies that your law extends to another sovereign country. Humans should live in tribal groups with their own kind, and not be forced into false unions. These false unions are high friction and don’t allow for diversity.
This idea that nations money should be allowed to flow in another country ultimately leads toward world government, which must be forced.
Already they are talking about a Eurasian currency “union” and this has seeds of destruction, where trade blocks form against other trade blocks, each with its own “money union.”
All international trade is really barter. A good crosses over to another country when purchased, and an equal good should transfer the other way, so that trading economies are in balance. If a country ends up buying too many foreign goods, they lose their bancors and have to adjust their exchange rate vs bancor down.
Keynes bancor system is the best method of allowing goods exchange to be managed. In this way, national money cannot and does not circulate improperly in a foreign economy. Bancor is an accounting device, and any predatory mercantilist country is soon found out and punished by having their bancors “re-distributed.” There can be no FX exchange shorting, bear raids, debt hooks, and other modern full spectrum warfare as money system flows do not contaminate each other.
Bancors require national economies to work with each other in order to maintain balance. It is very clear if a country is in accumulation phase, or if Bancors are draining away. ALL NATIONS of the world would work together because the system is honest lawful accounting, and thus the seeds of destruction would not be planted.
The more of the BRICs system I see, the more closely it seems to mimic the failed Bretton Woods system.
Existence of different currencies, DO NOT EXACERBATE RISKS; different national currencies are a requirement of sovereign nations. Anything else is a loss of sovereignty and all that entails.
www.sovereignmoney.eu
No: money is ultimately nature, not law, and ultimately must be a raw resource like gold or oil, a thing found many places that is immune to all changes to all laws of all nations, even for nations to be created new or to fall to dust.
Actually, VP wasn't the first to propose this and push it. Much like Eurasian Union was Kazakhstans idea, the common currency idea was proposed by Lukashenko who has been peddling the idea. Reason is because the Belarus Ruble has fluctuated a lot too and they are not even sanctioned or threatened.
It's interesting to watch Putin and his policies take shape. Who is most concerned with developing the foundation for the 'Stans to be more stable and profitable - Russia or the US? Hell, our strategy is to lay pipelines across them and build air bases in them.
I think we can see who is taking the moral high road here, and it's not us.
Not sure where you see a "moral high road" in any of this. Just looks like different self-interests and ways to serve them.
An Eurasian currency can work if it exist side by side and exhangable with the currency of each participating country. Or, think of it as the reserve currency of the world that is not dominated by the currency of any one country, like the USD. Increase of the supply of this currency can be done in a controlled mannar, unlike the current race to the bottom printing in the US and Japan. Irresponsible printing like the USD will reflect in the exhange rate with this world cruuency. It can take the place of gold.
Thats the theory. The practical fact is that it cant. Resisting the temptation of enjoying the benefits of theft by way of the printing press is beyond the capacity of humans to resist. A few resist only for a short time in the beginning...and then off to the races...
Resisting the temptation of enjoying the benefits of theft by way of the printing press is beyond the capacity of humans to resist
This statement is unproven by monetary history. Greenbacks were printed by law, and never exceeded legal issuance amount.
Washington's money, the Continental, was well controlled until the British started counterfeiting. Massachusets Bills were well controlled. Hanseatic league controlled their money. Venice controlled their volumes until late in their history, a time period which corresponds exactly with infiltration of Jews and their monetary thought.
Actually, it is for "profit" private credit as money, which is issued in volumes that cause hyperinflations, then booms and busts.
The one and best restraining factor is to have things done in daylight. Daylight is a disenfectant that helps keep things above board.
Yes, when humans do things in private, under cloak of darkness, in order to steal and rent seek - then the money system will be perverted. In-Groups that claim special status in order to steal should not be allowed, no matter their religion or other claims. Banksters are an in group, they recognize each other when they are together; at some level they know they are executing a giant con.
A legal money system implies that it is done in advance, in accordance with the law. The law in turn may have morality encoded.
www.sovereignmoney.eu
Exceptions do not make the rule.
For history to agree with you every example must agree together.
How does Russia plan on avoiding what's currently happening with Euro?
Keeping the Zionists out should go a long way.
"How does Russia plan on avoiding what's currently happening with Euro?"
Tie new currency to gold!
imitation is the sincerest form of flattery
According to PROUT one needs common cultural heritage, common economic potential and a supportive sentiment among the different peoples to create a currency union (which obviously has to mean fiscal and political union)
Having said that, small countries find it difficult to withstand manipulation of their currencies, so excessive isolation has its pitfalls.
Or a common enemy....
Putin obviously does'nt watch EuroNews. The the fact the Euro is about to collapse and he wants to repeat this folly!!!
Some folks are suckers for punishment.
If you dont have your own currency, you are not in control of your soveriegnty. Ask the Greeks, Spainards & Italians
Recycled idea borrowed from Europe wont work because the problems get borrowed with the idea.
Ultimately currency unions work when incentives are aligned. European incentives are not aligned. Russian and Kazahk incentives are not aligned. They are in fact diametrically opposed as energy production competitors.
But Russia has a big army. Kazakhistan has an incentive to bide their time and avoid confrontation for now. This is not a recipe for monetary harmony.
P.S. This proposed union is structured in a way that is modeled on the Euro and diametrically opposed to the structure of a classical gold standard.
Exactly what I am seeing it. What is the better way to alienate your partners at end of day, a union that you have no say to your own fair, or money. It is all because Russia has big army. What benefit that one country can not get by fair trade?
Well......,
"....One person who is paying attention to the failure of the US to grasp that the unipolar world of the 1980s is long gone, is Russia's Vladimir Putin,...."
If you want to talk about 'bread and circuses', the Council on Foreign Relations had a position paper on their site back in 2006 that was about the world needed a three currency system. A pan European, pan American and pan Asian system.
So this is right up that alley. And yet we are to believe this is a recent thought born of discord among top power brokers at odds with each other?
PUTIN CHANGES NAME TO ESCAPE US SANCTIONS
Vladimir is now called Ras and should be addressed as President Ras Putin. Source: www.financialpaparazzi.com"after Greece, which European country will come knocking on the Kremlin's door, asking to be let in?"
I would say 'Italy' followed by Spain, Portugal possibly a couple of the 'poorer' ones. But if this currency was tied to gold / silver, it would have a better chance, also break from the 'central banks!'
What ever currency they come up with will only be temporary.
The fight will end up with a one world currency.
Something evil this way comes.
On your Mark.
Who's got Vlad's suicide watch tonight?
How much will 1 Borat worth in $USD?