Putin: The US Is Making A Big Mistake By Weaponizing The Dollar

After the liquidation of its US Treasury holdings, surging gold reserves, and switching to a non-SWIFT payment system, Russian President Putin attempted to quell general concerns noting that “Russia isn’t abandoning the dollar."

In a press conference this morning, the Russian president said his country doesn’t plan to abandon holding reserves in U.S. dollars though he said that the risk of sanctions is prompting Russia to diversify its foreign currency assets.

“Russia isn’t abandoning the dollar,” Putin said in answer to a question about the sharp decline in its holdings of U.S. Treasuries in April and May.

“We need to minimize risks, we see what’s happening with sanctions.”

”As for our American partners and the restrictions they impose involving the dollar,” he added,

“I think that is a major strategic mistake because they’re undermining confidence in the dollar as a reserve currency.”

Putin did however caution that the US is making a big mistake if it hopes to use the dollar as a political weapon:

"Regarding our American partners placing limitations, including those on dollar transactions, I believe is a big strategic mistake. By doing so, they are undermining the trust in the dollar as a reserve currency"

In this vein, Putin added that many countries are discussing the creation of new reserve currencies, noting that China’s yuan is a potential reserve currency, but concluded:

"We will continue to use the US dollar unless the United States prevents us from doing so."

The Russian president also emphasized the need for other currencies in global trade and the emergence of new reserve currencies like the ruble.

Just last night we laid out the four major moves that Russia seems to be taking to de-dollarize so we suspect this comment by Putin is lipstick on that pig so that the rest of the world doesn't front-run him.

Additionally, President Putin said he’s ready to hold a new summit with U.S. counterpart Donald Trump in either Moscow or Washington, praising him for sticking to his election promises to improve ties with Russia.

“One of President Trump’s big pluses is that he strives to fulfill the promises he made to voters, to the American people,” Putin told a press conference at the BRICS summit in Johannesburg.

“As a rule, after the elections some leaders tend to forget what they promised the people but not Trump.”

Putin, who said he expects to meet Trump on the sidelines of the G-20

Comments

beemasters strannick Fri, 07/27/2018 - 10:19 Permalink

"Regarding our American partners placing limitations, including those on dollar transactions, I believe is a big strategic mistake. "

It's been going on for a long time (with other weaker nations) and he is just voicing it now?

In reply to by strannick

Brazen Heist II beemasters Fri, 07/27/2018 - 10:23 Permalink

The Anglo Zionist empire not only weaponizes the USD, but also "democracy" and "human rights".

The golden days of the 1990s where Uncle Scam could enjoy unrivalled power are gone. Like all greedy full spectrum empires, abusing unipolar power with wild abandon and arrogance is now starting to hurt.

Sandbox the Zionist infiltraitors and take down the tentacles of the Deep State, and let America join the global polity of great nations in a new paradigm of peaceful coexistence, rather than following the directives of that small, paranoid tribe bent on full spectrum dominance.

One thing that makes me optimistic is that more people are becoming aware and are questioning the apparatus and narratives of the old world order. It was alot different 10 years ago, when I felt like I was a very small minority with a multipolar view, drowned out in a sea of denial.

In reply to by beemasters

JimmyJones Brazen Heist II Fri, 07/27/2018 - 10:28 Permalink

We could of entered a new renaissance but no Bush Sr, and his boys had to have the grand Chess board strategy and destabilize the middle east after the inside job of 9/11.  I say Bush Sr, because Jr was nothing but a puppet for the NeoCons and Bush Sr was the first CIA president and probably the last real president we had till Trump.  Real as in a  actual real head of the State and not a puppet.  Bush Sr did suck but he was a actual leader just a evil one.

In reply to by Brazen Heist II

Brazen Heist II JimmyJones Fri, 07/27/2018 - 10:34 Permalink

Speaking of 9/11, the Mossad connection on that one is strong. Here is some reading for anybody interested.

http://www.whatreallyhappened.com/WRHARTICLES/fiveisraelis.html

My final conclusion on 9/11 is a joint Saudi-Zionist plot, using some insider groups in the US, to drag America into the Middle East and fight on behalf of Israel and Saudi Arabia, spurring on a war between Christianity and Islam for the benefit of (((guess who))).

And that is exactly what happened. Its too bad so many non-Americans and Americans lost their lives for such unspeakable evil that is not in the interests of most Christians, Muslims, or Jews.

In reply to by JimmyJones

Klassenfeind Brazen Heist II Fri, 07/27/2018 - 10:53 Permalink

As always, Putin is spot on!

Trump and his ZH crybabies whine on about how "unfairly the rest of the world has been treating the US" but they 'conveniently' forget that most of today's problems (wars, financial instability, fiat currency) originate from the US Reserve Currency Status and the Breton Woods system which the US has been using UNFAIRLY to it's advantage for Many DECADES in order to finance wars and manipulate the price of commodities.

But that's too difficult to grasp for most Trumptards... They're too busy screaming "sieg heil" for the Orange Jew!

In reply to by Brazen Heist II

Bokkenrijder Brazen Heist II Fri, 07/27/2018 - 11:00 Permalink

These ZH Trump fanboys are the biggest idiots.

Really, you couldn't make this shit up;

*) They complain about foreign wars and the MIC, yet vote for someone who promised to INCREASE the Pentagon's already enormous budget

*) The complain about "the Jews," "Israhell," and "the ZOG," and yet they vote for someone who is in bed with Israel and Netanyahu and has a Jewish-American lawyer who fucks him over

*) They complain about the "banksters," and yet they vote for someone who makes a Deep State Goldmanite (Mnuchin) his Treasure Secretary

*) They complain about The Deep State and The Swamp, and they vote for someone who hires Pompeo, Haspel and Bolton

*) They complain about the massive amounts of debt and the fiat currency system, and yet they vote for someone who calls himself "The King of Debt" and calls for a massive increase in military spending

I guess now the ZH Trumptards only have one 'weapon' left: downvotes!

In reply to by Brazen Heist II

Brazen Heist II Bokkenrijder Fri, 07/27/2018 - 11:11 Permalink

I'm not your classic fanboy of Trump, but he has to work with those cretins somehow, and not turn into a degenerate pedophile in the process. He was the lesser of two evils presented in the 2 party duopoly, sadly, that's what modern 'democracy' has become; a Hobson's choice.

So far, he's doing alright, given the circumstances, and everything stacked against him.

In reply to by Bokkenrijder

Klassenfeind Brazen Heist II Fri, 07/27/2018 - 11:13 Permalink

"He was the lesser of two evils presented in the 2 party duopoly,..."

I completely agree with that assessment, but what I fail to understand is how the supposedly "highly educated readers of ZH," can be so fucking stupid to blindly believe all the Trump bullshit.

Being the lesser of two evils is still not being very good I'm afraid, and being the lesser of two evils means that he still kinda sucks.

That is what we're witnessing every day: a stupid narcissistic idiot who can barely play 0,5D chess, let alone 4D chess...

In reply to by Brazen Heist II

Money_for_Nothing Klassenfeind Fri, 07/27/2018 - 11:47 Permalink

Who blindly believes bs? Trump is provably the most honest politician since the invention of recording devices. Just having an uncontested birth certification and school records is a big head start. Who do you think would make your paycheck (subsidy?) go higher than President Trump. Trump is threatening a lot of people's sinecures and subsidies. Who wants to guarantee more NPR wannabee hacks a good paycheck?

In reply to by Klassenfeind

BarkingCat Giant Meteor Fri, 07/27/2018 - 15:11 Permalink

But it really was not the classic "lessor of two evils".

Trump was a complete outsider and while there were drawbacks to him, the general idea was that he would blow up the established order in Washington. 

While he is not completely like a bull in a china shop, he certainly is like a squirrel in one.

Maybe the everything is not getting destroyed but there are certainly plates and cups falling to the floor.

In reply to by Giant Meteor

HardAssets Klassenfeind Fri, 07/27/2018 - 13:12 Permalink

'Stupid' ?, no I highly doubt that.

 

What do we have ?  IMO the jury is still out on that one. I had hoped that President Trump would talk straight to the American people. Particularly in regards to the true state of the overall economy. But those of us who have tried to inform friends & family on these subjects have run up against that solid wall of denial. Most people don't want to hear the truth. They fight against it with everything they've got. Between the Deep State attacking Trump to maintain their privileges & power, and a dumbed down population aggressively in denial - the president has a Herculean challenge.

In reply to by Klassenfeind

Scipio Africanuz Klassenfeind Fri, 07/27/2018 - 13:49 Permalink

Fine, we are Trump fan boyz and Putin fan boyz, and we'll believe whatever we choose to believe, for our own reasons, and we don't owe anyone a stinkin explanation why!

You can open your eyes, and see why we support, fight for, defend, and will keep fighting for Trump! He's the Hope that we can Change the vampirous system that's defenestrated everyone playing by the rules!

He's a narcissistic idiot who can barely play multidimensional chess? You don't say! Anyhow, even if he were, and he isn't, he's OUR narcissistic idiot who beat the living daylights, out of the prissy, elitist, wicked, and thieving a**holes arrayed against him!

So how come your folks couldn't win against a narcissistic idiot? Because your folks are the narcissistic idiots, who can't come to terms with the reality that Hope of True Change is here, and embodied in Trumpus Maximus Magnus!!

You don't like that he's a Maximux Magnus? Fine, you can suck my pinkie!...

In reply to by Klassenfeind

Consuelo Brazen Heist II Fri, 07/27/2018 - 11:27 Permalink

+1

There is a clear battle going on and at 70+ years of age, I give President Trump a huge helping of credit just to deal with it all, without going insane in the process.   One thing though...   He had better corral the dirty-dealers around him, along with the hag and those involved from the previous administration, or it will eventually overwhelm him.   Guaranteed.

 

 

In reply to by Brazen Heist II

Brazen Heist II Consuelo Fri, 07/27/2018 - 11:32 Permalink

Indeed, its a battle for the soul of America. The pedophiles, degenerates, Zionists, imperialists must not win. A purge is needed and coming. I hope he survives like Jackson, and doesn't go the way of Kennedy. In any case, he has a big following, but I fear a civil war type scenario is coming no matter what happens. The vitriol and partizanship is at toxic levels.

In reply to by Consuelo

fbazzrea Bokkenrijder Fri, 07/27/2018 - 11:17 Permalink

and still, Trump has accomplished in less than two years more towards the return of American sovereignty to the people than any president since Andrew Jackson.

and the best is yet to come...

ps-yeah, one of those downvotes are mine but you're wrong about the "one 'weapon' left". we're just getting started.

In reply to by Bokkenrijder

Vendetta Bokkenrijder Fri, 07/27/2018 - 12:32 Permalink

So let’s see ... Hillary in conjunction with obama demonized Iran and Russia (Crimea... have you forgotten?) for years prior to trump ... overthrew Libya and stirred the pot in Syria via proxies ... and Bernie Sanders was against these wars AND against unfettered globalization ... all part and parcel of the neoconservative PNAC doctrine .... but trump trying to implement peace and diplomacy with Russia and North Korea is ‘bad’ ... but since at the same time he increases the budget for the MIC and he is ‘bad’ for doing so and he is pissing off our so-called ‘trade partners’ as manufacturing has essentially left the US ... so he is to pick a fight with the MIC internally to the nation on top of everything else including pissing of the globalist cretins in our so called intelligence (where are those WMDs) ... okie dokie ... 

In reply to by Bokkenrijder

snblitz Bokkenrijder Fri, 07/27/2018 - 14:10 Permalink

It is called "real politics".  We must work with the hand we are dealt.

or you can think of it as "the lesser of two evils".

I have tried to do better.  I wrote in Ron Paul for most president elections.

Just because we cannot get an angel into office does not make us bad people.

At least we kept the devil out.

In reply to by Bokkenrijder

Dude-dude Bokkenrijder Fri, 07/27/2018 - 16:57 Permalink

Are a basket full of idiots better or worse than a basket full of deplorables?  Just asking.  If Trump supporters are 'Trumptards' and Dems 'libtards' does that mean most Americans are 'retards'?

I don't know Donald Trump, do you?  I do know that he became a billionaire via real-estate, even if he did get a nudge from his dad. On the latter point, many many people get nudged and then squander it - many sons and daughters have been given golden keys only to lose them.  On the former point, you don't get to play the NY/NJ real-estate market (and eventually gain global reach with Casino hotels and resorts) without being shrewd and having strong street-sense. You don't become 70 and still have the stamina of a 25 yr-old unless you're disciplined.

While I don't know him, to me Trump seems like he recognizes and quickly adapts to complexity.  He isn't perfect - nobody is.  But he sticks to old, tried and true ways of conduct.  Trump seems to abide by the rule: 'keep your friends close, and your enemies closer.'  No need for specifics as it is obvious.  He also knows all too well from business that when you have tactical or strategic advantage, you can play chicken and win.  Again, plenty of examples.  If you can't win, then make a deal first, and later pretend you're playing chicken and freak-out your other enemies.  We know, for example, that Trump's admin. communicated heavily with Russia in the days leading up to that 'massive', yet missive missile strike against Syrian sand.  The Russian military said as much, and Putin alluded to it when he said 'we keep getting assurances from our Western partners and told not to worry...'  Why did the Russian fleet simply decide to raise anchor and leave port two days before the strike?  Were they getting ready for a naval war with Americans (as some people thought they were) or were they ordered to leave the area for a bit to reduce defensive capability?  Russians can't be accused of failing to protect Syria if their ships and planes are -conveniently- out of tactical position.  Just guessing around here.  But somehow I think Trump wanted to scare the shit out of the Dem-MIC by seemingly playing chicken with a country that has greater nuclear capability - if you can imagine - potentially triggering WWIII just to shut them up (but knowing with certainty it wont come to that).  Such gambits usually work against reasonable men - they obviously don't work against sociopaths and psychopaths.  If he hoped he was dealing with a foe that still had some glimmer of reason, he now knows he's dealing with a large highly entrenched group of sociopaths and psychopaths (who seem to encourage nuclear war). 

A presidency of a nation -is- different from a presidency of corporation.  A key difference is the military component.  Historically, no leader (be it an emperor, a king, a queen, president or a prime minister) has survived very long by alienating the military (except Canada I guess).  They get assassinated, fall victim to a military coup, and/or the military simply goes rogue undermining the political leadership.  Trump accurately assessed this very early.  So throughout his campaign he focused on (1) Veterans (knowing this wasn't just an easy pool as they've been shafted, but also a militarily capable one if push came to shove) (2) 'strengthening the military' (3) Strengthening law enforcement (4) complimenting the lower ranking men and women (5) creating new counter-intelligence networks.  My guess, so that if/when the time comes, the Vets, 'foot-soldiers,' street cops, NSAers, and CIAers will mostly either stand-down or side with Trump rather than their corrupt overlords.  And then, team Trump can squeeze-out at least a chunk of that swamp.

Actually small fact: the NSA & CIA knew Trump would win at least three weeks before the election.  The Shadow Government leadership was hoping they could leverage dirt to get Trump to play ball. He didn't.  Since 'they, them' can't kill him anymore without risking a civil war, you've got the swamp attacking with the media cartel and 'the Russia probe'... 

As for Israel, no president since the 1950s became president without the support of the Israeli lobby.  Its a shame.  But one thing at a time?  Trump wasn't going to dig his own grave during the campaign by alienating the Zionists, so he did what he does, he did the exact opposite and complimented them to no end.   

In reply to by Bokkenrijder

Vendetta just the tip Fri, 07/27/2018 - 12:39 Permalink

Nixon went off Bretton Woods under advisement of Henry Kissinger ( he loves Hillary) in order to escalate Vietnam ... thus causing the OPEC oil embargo that Kissinger went to satisfy  the OPEC nations with lure of dollar dominance ... and untold wealth for those nations ... but without gold has the arbiter of balanced trade trade imbalances soared ... and American workers have been losing ever since 

In reply to by just the tip

RabbitOne Klassenfeind Fri, 07/27/2018 - 11:29 Permalink

What amazes me is the liberal retard a$$wipes on do not get it! IT IS NOT ABOUT TRUMP!! We are fed up with career politicians F—ing us over. We voted for the only non-career a$$ kissing political elite on the ticket who was not bought. The liberal a$$clowns on ZH can go suck Soros balls. We will never listen to you!!!...

In reply to by Klassenfeind

silverer RabbitOne Fri, 07/27/2018 - 11:49 Permalink

No, they don't get it. A friend of mine in special forces for many years explained that to me. He said they finally get it when the socialists they love so much turn into communists, which they will, and they are standing in front of a deep trench with a firearm held to the back of their head. That's when they "get it".

In reply to by RabbitOne

ogretown a false profit Fri, 07/27/2018 - 11:30 Permalink

I would have preferred could have, as I am not a fan of contractions.  Then again, I suppose when dealing with the unwashed one must be prepared to make allowances. 

Sitting quietly and listening for anything remotely suggesting salient points is not a hard exercise. Their word-stock (lexicon) usually consists of only what could be considered an economic inventory of lexemes. 

Unlike of course, the Negro in what now appears to be its natural setting - the urban village construct found within the more colorful parts of any large metropolitan city.

I find their lexicon fascinating, their inventory of the lexeme, extensive. Not unlike a baroque tapestry. Their entertaining use of physical pantomine when offering up opinion.    

 

In reply to by a false profit

Prosource css1971 Fri, 07/27/2018 - 12:41 Permalink

What can be delicious is to hear intellectual (or PhD physics level) discourse with a heavy southern accent. 

Or the same from a New York Italian (mobster, or my cousin Vinny)

Or any kind of intelligent communication from Bahston working class.

Visual and aural cognitive dissonance.

It is interesting to listen to, but can grow old fairly quickly unless the content is challenging or entertaining anyway. (Commedians George Lopez or Sebastian Maniscalso) https://www.youtube.com/watch?v=6QPhAnl9V10

 

In reply to by css1971

Blankone strannick Fri, 07/27/2018 - 10:38 Permalink

Selling treasuries and buying gold is wise, but is a simple, low level move.

Abandoning the dollar? lol

Russia does NOT have an alternative to SWIFT. Russia and Iran even are struggling to find a way to trade without SWIFT and the dollar.

I laugh at the folly and lack of fore sight of Putin's reign. Has Putin finally stopped having to use US supplied computers with US supplied software (and malware/spyware built into the chips themselves)? Just one simple example, Putin failed to advance Russia's independence in many ways, including financial structures.

In reply to by strannick

Brazen Heist II Blankone Fri, 07/27/2018 - 11:03 Permalink

Actually Russia DOES have an alternative to Swift, it was developed in the last few years, go and do your research. China has an alternative system called CIPS.

There are only a handful of truly independent and sovereign nation-states in the world, and its wise for them to develop in-house settlement and clearing financial architecture.

Putin's wake up call was 2014.

In reply to by Blankone