Word War Two: After Calling Bernanke A "Hooligan", Putin Now Says America Is "A Parasite" Living Off The Global Economy
Three weeks ago Putin called Bernanke a hooligan. Since that remark came from the (allegedly) largest oil producing country in the world, it provoked nary a peep from America's foreign department. Today, he decided to ratchet up the rhetoric, and in a speech to a Kremlin youth group told his listeners what the bulk of the rest of the world thinks of America: ""They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told a Kremlin youth group while touring its summer camp north of Moscow. "They are living like parasites off the global economy and their monopoly of the dollar."" Russia has not made its distrust of America clear in the past, and while others (ahem China) have been jawboning about selling Treasurys even as they continue buying US one-ply paper, Russia has been actively dumping its Treasury paper to the lowest in years. The reason for the unprovoked outburst? The insanity in Congress. "Thank god," Putin said, "that they had enough common sense and responsibility to make a balanced decision." The former KGBer's solution? Other, and more deserving, reserve currencies.
From Reuters:
Putin, who has often criticized the United States' foreign exchange policy, noted that Russia holds a large amount of U.S. bonds and treasuries.
"If over there (in America) there is a systemic malfunction,
this will affect everyone," Putin told the young Russians.
"Countries like Russia and China hold a significant part of their reserves in American securities ... There should be other reserve currencies."
Well, if Russia and China are so worried about the USD, perhaps it is time they finally pool their resources and release a joint currency: perhaps the Rubimbi? Or the Yuable? After all, instead of bitching constantly, just offer the global capital markets an alterantive and the market will give a thumbs up or down. Frankly, at this point any paper that is backed by something, anything, crude, copper, underground rivers, SS-30 rockets, bubble gum, or even bananas will likely fare much better than the dollar. It will also achieve the goal that the Chair "hooligan" Satan is pursuing: namely to kill the reserve currency and give American bankers a second chance at multi-billion bonuses, unencumbered by the chains of trillions in worthless RMBS on their books.
Alas, we don't see that happening for quite a while, which is why the world will continue reorienting its flight to safety to the one "tradition" that continue to appreciate despite Bernanke's continued confusion over how a yellow metal which has no cash flows can increase in value over his currency day after day after day.
And for those who claims that Russian defaulted 13 years ago, so Putin should just shut the hell up, we can only say: yes - which is why the Russian debt/GDP now is where it is.
Perhaps it is time America thought about doing the same. Oh wait, the Status Quo would have to actually find some productive jobs to do... Never mind.
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Well, Putin isn't wrong. Oil and gold can be the "reserve currencies". In some ways they already are, but the storage and exchange of the oil is problematic.
He is completely wrong, in a credit/debt global system without the US right now it collapses. Japan has been sucking off the world for 20+ years, why? Because they are not able to create the needed credit/debt to support their system.
Once you go down the road of credit/debt system with attached interest, it is just a matter of time before it collapses. Putin is completely wrong.
The question isnt who colapses -thats everyone. The question is who has the capability to recover and thats more Russia than US now.
not so sure about that.
Putin's shiny dome is under Bernake's wingtips. He's just pissy about it. The west is their favorite customer.
Post wipe-out, the US has a number of advantages over Russia and Japan and China.
BTW, with crude trading for $, this ponzi can still run for years.
No one here gets it.
I like this part: "The former KGBer's solution?"
Do you really believe Putin and his cohorts are "former KGB"?
PLEEEEZE!!!
Don't fix what's not broken is their mantra.
These a-holes think they are God!
http://thespiritoftruth.blogspot.com/2011/01/historical-epiphany-russias...
I disagree.
http://thespiritoftruth.blogspot.com/2010/04/good-friday-real-face-of-je...
http://www.youtube.com/watch?v=tCflJJbliew
Arrogant d&cks...
This is how Putin responds to criticism "shut up or you will die"
http://www.youtube.com/watch?v=dEXF-TIJ-e8&feature=related
This is Putin making deals "sign or you will die":
http://www.youtube.com/watch?v=UMlsbB33QSc&feature=related
This is Putin's romance:
http://www.youtube.com/watch?v=53eF1-yX_lw
This is Putin practicing for foreign affairs "resolution":
http://www.youtube.com/watch?v=bH85R7wO1QM
This is Putin's party (look at that smile at 0:15):
http://www.youtube.com/watch?v=Cm-4_G0koxU
This guy's got KGB I-killed-so-many-I-lost-count written all over him
What the United States did today was what will soon be referred to as "an economic crime." I am surprised that a man as well spoken as Putin did not refer to the House and Senate as a bunch of economic criminals. Honestly, when is the United States going to live within its means? The world is a scary place. Today it got a bit scarier.
Putin's advisors must have been reading ZH!
It's simple, he just has to create oil or natgas denominated IOUs.
Who would trust a Ruskie IOU? I would rather have green ponzi chips than a "race to default" Russian coupon.
@ Cleanclog
True he might not be wrong, but he still is Putain.
Putin is right, America is living like parasites on the world economy, AND he should put his money where his mouth is by pushing for an alternative reserve currency.
If no one does anything to push the world (kicking and screaming) towards a better solution then no one will act until the collapse finally hits.
We are Hooligan Bitchez!
We've been called worse, by better..
You could make a case that some are terrorized by the Tea Party goals.. Unfortunately, the military industrial complex is not one of them.. Use to be.. but when the take over happed by the neocons, well... we all knew how that would play out.
What good will that do? The media is intellectually dishonest, and by extension, the majority of the public are deceived. Combine that with the fact that progressives in Washington will do or say whatever it takes with no regard for civility or honesty and what do you have left? Seriously? Do you really think an apology means anything? The media won't even report it unless it is the other way around. Face it people, this country is finished!
sounds about right.
<sigh>
Tea Party is on Putin's side. Call the tp's what you want.
I feel a couple pints of Black and Tans and some traditional Gaelic singing coming on
followed by chair smashing and Lawry stomping outside
If Russia wants to get a war on it needs to get in line behind Syria, Iran, North Korea, Venezuela, China, and California.
LOL!!! I just R Kelly'd myself after that!!
I somewhat agree with him except that it's more of a symbiotic relatonship than parasitic. Everybody's got some shit on their doorstep and Putin/Russia have little room to talk. He's jealous because our bankers are better at global dominion than his party was.
It is simply a matter of magnitude when it comes to Putin and Russia.
But the story of everybody's got some shit on their doorstep, waoooo...
In this US world order, exportation of shit is the Smithian paradigm.
Export the bad consequences of your actions, keep the good consequences.
And countries at the bottom have to deal with their own shit and shit they are forced to accept coming from the exterior...
...export the bad...keep the good...
Much like socialise the losses, keep the profits.
Glad to see the government learned something from wall street. Or is that the other way around?
his party and the russian revolution was created by the same group that controls the bank. all coming out now.
what? that makes no sense.
True, and I hate Putin to no end, but fck he is right! America could not last without its arch nemesis 15 years and is about to follow a similar path to ruin. So, no winners here.
Russia and China already trade without using $ so may be they will some day.
Don't forget to add IRAN in your list.
shouldnt that read world war III? or cold war II?
Great Depression II
Re-read the first word of the title.
Damn those plays on words for being so tricky. Damn those Sovi......Russians for being so correct. BTW, who exactly won Word War 2?
" BTW, who exactly won Word War 2?" cossack55
The Jews, or course.
Hudson said it, nobody reads.......(maybe they can't).
sorry tyler, im an ass, too many hours in front of the screen today. i deserve the junks.
Red flag for overt supplication.
Get off your knees.
No one deserves junks Kito. They are demoralizing and create an atmosphere of groupthink. It's the easiest way to create converts.
I too thought it said World War.
Excuse me ladies but this is Fight Club if you recall.
*and that makes 2 of you who can't read*
It use to be fight club years ago. Now it PC fight club, watered down by the musings of the cog dis. Don't hurt my feelings or scare me, ok comrade. Groupthink me!
Get back in Character you grandmother groper.
You're unfunny at best. Trollish with no constructive input beyond inspiring my complete, salivating hatred for all things TSA and what it represents. I'd go to the pokey to sock you in your halitotic face while you're in your skin tight, blue polyester monkey suit; sweating your ass off while feeling up the populace because of the, "killer health plan". Groupthink that.
What a sniveling cunt. You have hatred for ppl trying to save innocents? If you want to go to to the pokey so bad y havnt you smacked anyone yet cunt? If you hate the head house man then say it simple fucking useless racist.
Russian credit will be downgraded by morning. I know I know, in soviet Russia credit rates you.
And in America, you rate your credit! Ha ha ha ha
Putin is correct, we are parasites, but Russia is free to sell their oil in any currency of exchange they wish. Now, why don't they?
He enjoys the freedom of the extorted. Extorted are free to walk away anytime they want. No backlash from the extorter. After all, the extorter does not live off the extorted so why should he care?
US world order.
Iraq and Libya tried to sell their oil in other currencies. What happened to them? So, what is this "they are free" to do this and that business?
Ummmm, Mr. Putin, considering his past, made me think of the US middle class, that schizophrenic class by nature.
The US are first and most the best extorter of the weak and the farmer of the poor the world has ever known.
Mr.Putin does not oppose extortion and farming. Or, like a true US citizen (he only misses the ID card), he only opposes them when he is the extorted and the farmed.
The Russian, there are the middle class on the world scale. They do not oppose extorting poorer countries, on the contrary. But they oppose being extorted by the new nobility of the world, the current upper class, the US citizens.
US citizenism is spreading fast. Mr. Putin to become the new George Washington, opposing selectively misdeeds according to his own benefits.
Such is the US world order.
I'm not sure where the "order" might actually be emanating from. However, I doubt that you, wherever you live and pay taxes, are in fact free of it.
Same order as today, with Russian on top, same ideology prevailing, US citizenism.
Mr. Putin is one of those unfortunate people who were born in the wrong place. This man has definitively US citizenism as his cultural background and has probably the typical US citizen genetics pool.
Alas, born in the wrong place. He would have been a very successful US citizen, joining the US military elite corps, climbing the ladder and achieving high political role in the US administration.
Wrong place of birth...
Yeah we need more George Washingtons and Thomas Jeffersons of Europe. /snark /my bad
Somehow it's the American middle class' fault?
It's you union socialist fucks that steal for a living.
Without strong worker unions the majority of the US labour force will continue to be bent over by corporate capital and roundly screwed. You got no negotiating power and you got no ability to think or act collectively.
All the while wealthy capital works together, dines together, co-operates, socialises on the weekends, and plans collective actions to screw labour.
At least the uber rich know the importance of socialism in forwarding their own profits eh.
$8/hr will be a dream job for your kids as will the joke medical benefits which come with the position should be good for an ingrown toe nail or two.
Somebody didn't get a White House Christmas card last year.
He wants parasites? Ship him that Sheila Jackson Leigh creature, with a Van Hollen back.
I trust Russia more than the USSA.
I trust Iran more than the USSA.
I s**t you not. I only trust logic, and those two countries make more sense than the daily/hourly bulls**t coming out of the stinking fascist USSA every day.
You are very misguided my friend. We may suck, but you do not know what you are talking about thinking the proles have it any better in those two shitholes.
4 Junks for saying we have it better than Russia or Iran. Just had to point that out.
http://www.youtube.com/watch?v=a4UuQf3j3XI
In Russia, hot chicks take up target shooting as a hobby
http://www.youtube.com/watch?v=PT1N21Dmi0M
I still haven't met a Russian I would trust..
In that case, I will not bury you.
Okay.. thanks... I think
I will be posting my Top 10 List of ZH Suspects this coming Saturday. Guess where you are on the list?
Does the TSA have a pension fund ? Is it shortable ?
That would be very provocative if I cared what you thought about anything. You're act is shallow and sad my "boy."
Putin knows the dark stain on the soul of The Bernank well.
Putin is by no means anything but a ruthless person - even Machiavelian - but that just makes it easier for him to spot his own ilk.
And The Bernank & his handlers are definitely everything Putin claims. And more.
bernanke is killing the $, not running a forced prostitution ring.
I guess one of the reason why Putin is pissed is because the Oil price is not down. US had done several things to clamp the oil price down a couple of months ago. Russian is hurting. Isn't there an article about Russian budget is based on oil being 110 or 120 ? And Russian is now running a deficit in the government spending.
Another reason is a communist state is incapable of efficient E&P. Beyond absconding with public assets to haunt London and New York, Russian communists aren't good at much of anything.
Which communist state? The Russian or African run communist state? USSR or USSAR.
Nov. 23, 2010, 11:38 p.m. EST
China, Russia to drop dollar in bilateral tradeBy Chris Oliver
HONG KONG (MarketWatch) -- China and Russia will stop using the U.S. dollar to settle bilateral trade and instead use the ruble or the yuan, though the move is not meant to signal a challenge to the dollar, according to reports Wednesday.
http://www.marketwatch.com/story/china-russia-to-drop-dollar-in-bilatera...
Q: Is the Panda in the Bear Family?
A: The giant panda, or panda (Ailuropoda melanoleuca, literally meaning "black and white cat-foot")[2] is a bear[3] native to central-western and south western China. [from Wiki]
No wonder they are so close. Where does The Mighty Eagle fit in?
i share the Panda color scheme and some eagle lineage
That's only one on a growing list (they actually agreed last fall).
China swap agreements now total nearly 1 Trillion Yuan. And include many countries that trade with China. Shockingly this spring, New Zealand was added to the list. Brazil was last year. All of China's neighbors in Asia are on the list except India.
Global reserve currency is being decided by default. Literally.
I am actually not too surpirsed about NZ ...they have very "ambivalent" feelings about the USA since the Vietnam War and still refuse to allow ANY USS Nuke Ships dock at any of thier ports.
That being said, just as "walking away" from an underwater mortgage is "purely a smart business decision"....these countries see the writing on the wall and cozying up to to the RMB (Yuan) is "purely a smart business decision" in their opinion. After all which country is Broke and which has a massive surplus?
I agree with PIMCO's Gross and Mr El...unless we produce real growth....namely, produce something other then "consumer spending and financial paper" maybe they (and Soros and Jim Rogers and numerous other econimists) are right?
Who knows? China does have beautiful Pandas.....and NZ has...mmm...the Echidna?
As I've been saying all day, this shit has gone global and it's no longer just financial or economic. It's going political and strategic. There are major issues at stake that aren't going away
Simply put, the Fed's policies since 2008 have failed.
What's the plan: More of the same.
Protect yourself with gold
Simple enough CE, only more of the same is not really possible. It is all about geopolitics now. Finance and it's shennanigans are the easiest way to keep sheeple dis-tracted.
If you speak to the people in Waziristan or Khndahar or Benghazi, I don't think S&P is on their mind as we speak.
It's war prep actions all around us.
And I say protect yourself with Silver. ;-)
ORI
http://aadivaahan.wordpress.com/2011/07/30/pre-cursor-01/
I'm not happy with these guys, and I don't see how any one out side of the Oligarchy could be. If you have any USD's in your pocket, check to see if they are still worth what they were worth when you put them in your pocket. Mine are NOT.
US government - bad cop, Russian government - good cop.
They are both playing the same game which by the way is not always bad.
THey are all in it together.....a war would solve most of the western countries problems....well..some eastern countries too.
They have been trying to start some war over the past 18 months...and have failed...
Wonder what was discussed in the Bilderberg meetings.....surely something of a war..maybe even a first prize to whoever convinces people to start a war...
Us can't be the parasite, we are the one buying cheap chinese goods. Without parasite, human can't survive, can they?
Linear thoughts from the Kahn. No one else is buying from China? US buying power is now insignificant to them because of subversive websites.
Don't we buy the most? Look: 70% of apple's revenue came from Asia during last Q, I think 50% of that (at least) was from china. Without that, apple would be a 150$ stock.
Brazil just overtook the US in Chinese trade and within 6 months they will leave us in the dust.
Ooooh Putie, feel those muscles full..LEX...ing!
Aww...Pooty Poot, don't be sour. We can't all DEFAULT and then suck on only Europe like you, buddy.
coming from a man who no doubt has extensive experience on the topic of leeching. This is not really news. Why did he say it? Same reason other dictatorial clowns world wide (Mugabe recently had similar insightful comments ) have and will; to take the attention way from their own implicit and often explicit participation in the game. Mere distraction form the more important issues at hand. Let the Russians deal with their leadership, we should focus on our own.
Pot Kettle Black no doubt. Nothing quite like a politician pointing fingers. Calling those people leaders though...
They're getting desperate it seems:
Buy Gold ETF Calls to Hedge Against Uncertainty, JPMorgan Says"Buying options on the SPDR Gold Trust exchange-traded fund can help protect against financial-market uncertainty that is likely to boost the price of the metal, JPMorgan Chase & Co.’s Amyn X. Bharwani said in a note today."
http://www.bloomberg.com/news/2011-08-01/buy-gold-etf-calls-to-hedge-aga...