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Putin Targets US Monetary System: "Aims To Eliminate US Dollar From Trade"
Something is afoot as de-dollarization escalates around the world. With CNY/RUB trading volumes up a stunning 400% year-over-year to record highs, and hot on the heels of China's (and much of EM Asia) dumping dollar assets, Russian President Vladimir Putin has just unleashed a new bill aiming to completely eliminate the US dollar from the trade of goods.
As Putin explained last year... trade in Rubles and Yuan will weaken the dollar's influence...
And it appears to be happening....
CNY/RUB volume rose 4 times y/y to 18.4b yuan (193.3b rubles), highest since trading started at end-2010, Moscow Exchange says in statement on website.
Record daily trading was on Aug. 24 at 1.95b yuan
As SHTFPlan.com's Mac Slavo details, last year Russia began unloading massive amounts of their US dollar reserves. In the month of December 2014 alone Putin sold some 20% of the country’s U.S. Treasurys, a move that further increased tensions surrounding what can only be described as economic warfare between East and West.
Then, as if part of a coordinated effort, this summer it was revealed that China had implemented a similar strategy, dumping half a trillion in dollar denominated assets.
But that’s just the beginning of the end for the US dollar. Amid a major meltdown in Chinese stock markets the People’s Republic sold off billions in dollar assets last week in what was reported to be an effort to stabilize their collapsing financial markets.
And now, as Russia’s economy collapses under the weight of American and European sanctions, including what many believe to be widespread downward manipulation of oil prices, Vladimir Putin is sending a clear signal to the central bank of the world’s reserve currency.
A new bill drafted by the President of the Russian Federation aims to completely eliminate the US dollar from the trade of goods:
Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries.This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union.
“This would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets”, said a statement from Kremlin.
The bill would also help to facilitate trade in the region and help to achieve macro-economic stability.
Source: RT
The implications for such a move, though not necessarily immediate, are serious over the long-term. That China and Russia are now overtly divesting themselves of U.S. dollar assets signals a significant paradigm shift in global trade.
The dollar may be strong today as panicked global investors rush to the perceived safety of the US Treasury assets. But as the Federal Reserve is left with no choice but to print trillions more to keep financial markets from ruin, the creditors who usually buy those assets are drying up.
There will come a breaking point in the near future, and when that day comes we will see the largest monetary collapse in the history of the world.
When the collapse of the dollar occurs, it will literally and figuratively come like a thief in the night, and I do mean overnight!
We are all familiar with the concept of inflation, which is the intentional byproduct of the Federal Reserve. But I am not just talking inflation, I’m speaking about hyperinflation which is caused by the collapse of the value of the currency resulting in runaway prices. Here are three examples of how quickly a currency collapse can occur when a nation’s money when its money no longer holds it value:
1. In Weimar Germany, from 1922 – 1923, prices doubled every three days.
2. In the modern era, in Yugoslavia from 1992-94, witnessed prices doubling every 34 hours.
3. In Zimbabwe, in the two year period from 2007 – 2008, prices doubled every 25 hours.
History is replete with examples of currency collapses and they typically follow very predictable patterns in which a nation unravels and social chaos, and many times, widespread violence and even genocide becomes part of the national landscape.
And though such things could never happen in the “developed” world, we urge our readers to consider the reality of a scenario that involves a break down of the US dollar. We direct your attention to Venezuela, where we can see what a total system collapse looks like in real-time:
With 30% of Venzuelans eating two or fewer meals per day, social unrest is mounting rapidly in President Nicolas Maduro’s socialist utopia. As WSJ reports,soldiers have now been deployed to stem rampant food smuggling and price speculation, which Maduro blames for triple-digit inflation and scarcity. “Due to the shortage of food… the desperation is enormous,” local opposition politician Andres Camejo said, and nowhere is that more evident than the trampling death of an 80-year-old woman outside a state-subsidized supermarket.
In such a scenario we can fully expect that our regular systems of commerce will break down to the point that essential goods like food, gas and other critical supplies become unattainable to the masses at almost any price.
Tess Pennington, author of The Prepper’s Blueprint, explains what happens within three to five days of the reality of the monetary disaster setting in:
Have you ever heard the saying, “We’re three days away from anarchy?” In the wake of a disaster, that’s all you have is three days to turn the crazy train around before crime, looting and chaos ensue. In reports during the aftermath of hurricane Sandy, residents from Staten Island were pleading for help from elected officials, begging for gasoline, food and clothing.
...
Multiple factors contribute to societal breakdowns including failure of adequate government response, population density, citizens taking advantage of the grid being down and overwhelmed emergency response teams.
The 3-5 days following a disaster is the bewitching hour. During this short amount of time, the population slowly becomes a powder keg full of angry, desperate citizens. A good example is the chaos that ensued in New Orleans following the absence of action from the local government or a timely effective federal response in the aftermath of Hurricane Katrina. In such troubled times, people were forced to fend for themselves and their families, by any means necessary. This timeline of Hurricane Katrina effectively illustrates “the breakdown,” and within three days, the citizens of New Orleans descended into anarchy, looting and murder .
Source: Anatomy of a Breakdown
It’s difficult to imagine a sustained breakdown across America. But make no mistake, should the US dollar every come under attack, and it appears that the opening salvos have already been fired by Russia and China, then life as we have come to know it in America will come to a drastic and near immediate halt.
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the fucktard ''NewsOutlet'' is here again, spewing bullshit
We need to give that asswipe and rifle and send him over to Russia to get his empty head aerated.
That's pretty harsh, consdiering that his main concern is just to avoid getting either his head or yours aerated.
Why isn't he entitled to think of Russia the same way you think of America (from which you are nevertheless drawing a nice check from Uncle Sam)?
the fucktard ''NewsOutlet'' is here again, spewing bullshit
We need to give that asswipe and rifle and send him over to Russia to get his empty head aerated.
If you Nazi Ukrainian bastards butchered my family I would hunt you down and kill you DEAD. no matter how long it took.
If you Nazi Ukrainian bastards butchered my family I would hunt you down and kill you DEAD. no matter how long it took.
You guys keep me so confused.
You hate, hate, hate, hate, hate the Jews...
And then you accuse your political opponents of being Nazis.
I think the term you are actually seeking is either "brothers-in-arms" or "fellow travellers".
Being 70 years old, your family is already dead.
If you'd lay off the weed, you'd realize that by now.
thats what muritard neocons want to separate them and rule over ukraine via warlords .
i can answer your question its because of american zio-jews agenda, promoted over decades
"A good example is the chaos that ensued in New Orleans following the absence of action from the local government or a timely effective federal response in the aftermath of Hurricane Katrina. In such troubled times, people were forced to fend for themselves and their families, by any means necessary. This timeline of Hurricane Katrina effectively illustrates “the breakdown,” and within three days, the citizens of New Orleans descended into anarchy, looting and murder ."
Obviously, the author has never been to New Orleans. Anarchy, looting, and murder is the normal state of this city because it's populated with angry, rapacious, lazy, worthless savages. I find an article implying everyone is a savage very insulting. I am better than these people, better because I was born better, but more importantly because I made something of myself. And that, good friends, is why I have lots of stored food, guns, and that most precious of metals, lead.
No power, water, food, or police? I would hardly notice. It would do wonders for my blood pressure to not have to commute with disrespectful bullies every morning, or hear the television ever again. Bring it, it's the end of the world as we know it, and I FEEL FINE.
Ukrainians View the People as Sovereign; Russians Think Putin IsUkrainians and Russians differ fundamentally in the source of sovereignty in their countries, with Ukrainians, like citizens of Western democracies, viewing the people as sovereign and with the Russians, like the subjects of autocracies of all kinds, assuming that their supreme leader is, according to a new poll.
Irina Bekeshkin, director of the Kucherin Democratic Initiative Foundation in Kyiv,recently conducted a poll in the two countries in which she asked respondents “Who according to the Constitution is the bearer of sovereignty and the source of power in your country?”
Although in fact the constitutions of the two countries specify that sovereignty resides with the people, Ukrainians and Russians gave very different answers to this question. Fifty-seven percent of Ukrainians said the people are the source of sovereignty, while only 23 percent of Russians did.
Conversely, Bekeshkin told a recent Russian-Ukrainian roundtable in Kyiv, 55 percent of Russians, but only 26 percent of Ukrainians said that the source of sovereignty and power in their countries was the president, yet another indication, Andrey Illarionov says in reporting this result, that “Russians and Ukrainians are not one people” as Putin imagines.
People in Ukraine “have always known that,” he says, and over the last 18 months, “millions of people in Russia as well have become convinced of that.” Unfortunately, their number does not include Vladimir Putin who not only continues to insist otherwise but to act on his mistaken vision.
The Kremlin leader’s attempts to “realize the chimera of ‘a single people’ in the current Russian-Ukrainian war,” the Russian analyst says, has already resulted in thousands of dead, tens of thousands of wounded, and more than a million refugees. And tragically, there is no end to this carnage in sight.
Almost a century ago, Illarionov continues, during the Russian civil war, “millions of people became victims of an attempt” by the anti-Bolshevik White Russian forces “to realize the chimera ‘Russia One and Indivisible’” and the victory over them by the Reds “who destroyed by their terror tens of millions more.”
“How many citizens – in one’s own land and in its neighbors – “ he asks in despair about Putin’s policies, “are going to be condemned to be sacrificed to the criminal chimera of ‘a single people’ in the new war that has been unleashed?”
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
Frustrated chimp it is....
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
He may only have an IQ of 1 but at least he's able to lay off the "send" button rather than pound angrily on it like some frustrated chimpanzee.
Thought we'd throw this one in for good measure.
And for what it's worth, this is the accurate portrayal of what really happened during those negotiations and why Putin "punched out"!...
Asking yourself just how fucking desperate the EU/Anglo-American contingent really is???!
That desperate!!!
Interesting perspective.
Tyler: Would you mind banning the spammer newsoutlet, so that interesting comments like these don't get pushed WAAAAY to the bottom of the page below a reeking heap of spam?
They'll try the desperate MMT UST option first, they already partly do it.
Who knows how long that will work, or if it will work.
But when things got bad enough they flipped to mark to model in desperation.
Mr. NewsOutler aka NSA , and Langley goofball
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
...
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
,,,,
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you,,,,
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you,,,,,
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you,,,
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you,,,
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
..
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you,,,
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
..
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
,,,
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
>>>>
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
>>>
We know you dream of sucking Putins' cock,
You are also very envious that Putin has and IQ of 160 , thats 159 more points than you
Given the track record of "brilliant" politicians running things into the ground, I'm in favor of yanking some guy off a construction site and handing him the nuclear football.
As for the whole dream of sucking Grandmother Putin's little thingy, you sure seem fascinated with all forms of gay sex. It's all you can talk about, ad infinitum.
He's just on another hand sanitizer binge.
what a bunch of FUCKINGNG NONSNESE.
the dollar is strong as fuck and being 'dumped' because there is a FUCKING CREDIT CRISIS IN ASIA.
the west is STILL WINNING AND THE STRENGTHENING DOLLAR IS PROOF.
FINANCIAL WARFARE IS FOUGHT FOR ESTABLISHING A CURRENCY OF RELATIVE STRENGTH.
IF A CURRENCY IS DUMPED AND IS LOSING IT WEAKENS.
THE FUCKING DOLLAR IS STRENGTHENING BECAUSE TREASURIES ARE BEING SOLD NOT DOLLARS YOU FUCKING RETARDS.
the chinese BOUGHT THE WALDORF AND MANY OTHER OVERPRICED PROPERTIES IN NEW YORK . THIS IS WHAT THE JAPANESE DID. IT IS PART OF THE PLAN.
it is unreal how stupid so many of the people here are. and yet, you can read plenty of articles on zh citing the typical pump n dump method of the imf into developing economies and the economic hitman methods of financial cooperation/warfare.
so long as the dollar strengthens , the u.s. is dominant. currencies always die by weakening , not strengthening.
the dollar is winning you dumbasses. just because it creates pain doesn't mean they cannot start printing more dollars when they want. the dollar may be destroyed WHEN THEY START PRINTING MORE AGAIN, BUT NOT NOW. a strengthening dollar induces pain. pain of a strengthening currnecy is not the same weakness to the powers that be as the pain of a weakening currency EVEN THOUGH both may affect the lowest unpropertied peasants in a bad way---reducing their income , or their purchasing power or both.
You are another fucking idiot.
The dollar will get stronger before totally collapsing.
Now fuck off
Do all the f**king morons like Teslaberry, Aussie arsehole Element, and Tarabell show up in the afternoon USA time? Is this like the afterschool crowd at Langley or Foggy Bottom at the State Dept?
They come to reinforce their Latvian or Polish douchebag pal Newsoutlet.
Tyler's need to put a governor on endless shitty posts.
Name the order in which these currencies will collapse:
Dollar.
Euro.
Yuan.
Ruble.
Guilder. (Okay, that's a trick question. It already went bye-bye when the Dutch sold themselves to Brussels)
Russia and China have nothing to buy in the US of any value for them.
That's the fact. And while they planned for orderly 10- 15 years process of de-dollarization they are forced to do it in five. Even Saudis consider selling oil in Yuan which spells the end to petrodollar and hence its collapse in longer scale. The US is being left behind in the world economy and the morons politicians care shit about it.
Neocons shoot themselves in the foot and are too stupid to know it. But still they could blow up the world before they are reduced to the meaningless dwarfs.
For Ukrainian war update from the independent perspective:
https://contrarianopinion.wordpress.com/ukrainian-war-update/
Americans are a bunch of bullies and warmongering LIARS
First they wanted to defeat Communism and the USSR and now that Russia is free and capitalist. The goddam Americunts are still wanting to wage WW3.
Fuck the USA Nazis.
.
Oh, I'm all in favor of leaving guys like you to play with Grandmother Putin on your own, but there are lots of innocent and anxious people between you and him so I'm torn about what to do.
I know.
Let's move you to Russia. Problem solve- ed.
He's right though.
We carried on for 50 years to free Russia from the yoke of communism, and now that they are capitalist, we still whine and complain and act like assholes because they don't behave exactly the way we want them to.
It must be the jew in us. Not happy with the biggest slice of the cake, Americunts have to have it ALL and everyone else is supposed to be happy about it. why don't you move to Russia instead?
Newsoutlet just needs to open his eyes wider.
http://mondoweiss.net/2015/05/facing-neocon-captivity
Hard to open your eyes when you head is up your ass.
Doesn't work so well when your head is up someone else's ass either.
mondoweiss? Total lunatic.
A strong dollar would be parity with Euro. I get paid in both dollars and Euros and parity hasn't happened since early 2002
The Euro is 1.12 against the dollar.
Yeah, so?
Clue us in on the trend line.
Enough with the Weimar Republic shit. The dollar will not crash, it's the only game in town - period!
Game is right.
I was in Johannesburg a while back. Try giving US dollars to any Taxi driver.
I remember 45 years ago that the dollar was accepted everywhere.
Not so much now.
Game is right.
I was in Johannesburg a while back. Try giving US dollars to any Taxi driver.
I remember 45 years ago that the dollar was accepted everywhere.
Not so much now.
Did you try offering them a ruble instead?
The dollar will collapse as soon as we run out of zeros.
Crashing since 1913.
Zion's response:
"If you don't eat our dollar, you can't have any plunder. You can't have any plunder if you don't eat our dollar."
Zion is a scheme, not an ethnicity..
Hopefully Putin will continue to accept USD for certain Russian exports, for example the export of Russian ammunition 7.62x54R and 7.62x39 destined for U.S. civilian market.
Just wait for the next major crisis and watch as the world runs back to dollars...China and Russia can do all they want to do, but lets see if BIG money is willing to park there. Highly doubt it.
As if the world is going to run from the relative safety of dollars into the hands of the communists and a gangster.
This is sickening. I am increasingly learning how Luther felt when he expressed in 1524 ..
This headline could have been written in 1980. A little different mind you. It would go like this:
Actually, the last part would more accurately read: "Aims to CRUSH the Soviet Union."
Not Russia and/or the Russian People ..
To the present USG/SSG/USSA, mea culpa we now see this from Putin?
Or is it more turnabout is fair play?
http://wantarevelations.com/2014/01/wanta-plan-macro-financial-economic-...
I guess given our chance, we blow it. Then it is given to someone else?
https://app.box.com/s/hfgvcqg7gqh7i27at6sv53ywu87lwarp
What the fuck was wrong with squeezing the CCCP until its eyeballs popped?
It worked. WWIII won without firing a single nuclear shot at anybody.
I believe it was $13 oil that sealed the deal in 1986.
Hey maybe that's what is happening now?
Well, duh, of course Grandmother Putin needs to wipe out dollar denominated transactions in his satellite regimes.
Where the hell is he going to get dollars to pay these slave states with?
Sorry guys, not a brilliant global chess move but a simple case of pretending that necessity is a sterling virtue.
What slave states? You talking about China? When China and Russia get together, the dollar is no longer king of the mountain. And their reserves will keep them protected from our sanctions for several years.
Listen the Cold War is over it ain't 1962 anymore, Pops. Russia is not the Soviet Union. It doesn't have satellite states. No one is doing the Twist, and the Yankees aren't winning every pennant.
Try and get with the times.
Putin's tweets (the official ones) are rather bland. He needs to have them livened up a bit.
Look at the bright side of the equation, America. You will no longer be perceived as the Global parasite that leeches off of everyone else in the World. You will have to work for a living from now on, and as Karl Marx always stressed, that will be good for your self respect, and indentity.
This move away from the dollar is not an overnight thing. Chairs have been quietly removed from the game while we have been entertained by the music. The Asian Investment Bank, the BRICS bank, Eurasian Economic Union, demands by China that the yuan be included in SDRs at the IMF, major pipeline deals done with no involvement of the petro-dollar - all of these have been clues for years, for those who pay attention. Even the video in this article, about Putin threatening the dollar, is from last year.
Pity poor Joe Sixpack, who will be totally blindsided and won't "get it" until the USA goes full Zimbabwe. THEN maybe CNN or FOX will say something about the sorry economy we all have. And Who Knew?
The BRICS and anybody country that wants to see the end of U.S hegemony and financial abuse should......
Money creation in the hands of government. That doesn't seem like a good idea. I prefer gold and silver miners.
but only if there are less trolls in them than in this thread