Putin Flushes the US Dollar: Russia’s Gold Ruble Payments System Delinked from Dollar

I'm amused at the levity of some of the thread responders.

Actually, Bank Rossiya will be the only Russian bank to use exclusively the Russian ruble. This is the same bank that we (USA) hit with sanctions. They're trying to find a way to survive the sactions. That's all it is.

Some people here have their logic and facts all haywire. Maybe they don't keep up with current affairs. Maybe they haven't studied history at all. They seem to live in a dream world where the USA is the villain and the bad guys are actually good guys.

Did you people grow up in America? Do you realize the blood that was shed to enable you to have freedom of speech, something you could not even dream about in Russia or China or North Korea or a whole list of other countries?

Russia is a blip. They are what they are. Never will they be a world-dominating power. The bread lines may be back soon to Russia. They now live under a system where they're not able to speak freely. So you can't expect them to voice their true opinion, which might surprise a lot of you.

Agit8dChop


what are you, simple?

America can!
America's invincible, undefeatable. They are the most technologically advanced killing machine since the 30's!
You must be some kind of anti-american communist Putin lover!

USA USA!

And that would be the the final cheer of the the USA troops marching on Moscow before they starve and freeze to death

AreUKiddingMe
I'm amused at the levity of some of the thread responders.

Actually, Bank Rossiya will be the only Russian bank to use exclusively the Russian ruble. This is the same bank that we (USA) hit with sanctions. They're trying to find a way to survive the sactions. That's all it is.

Some people here have their logic and facts all haywire. Maybe they don't keep up with current affairs. Maybe they haven't studied history at all. They seem to live in a dream world where the USA is the villain and the bad guys are actually good guys.

Did you people grow up in America? Do you realize the blood that was shed to enable you to have freedom of speech, something you could not even dream about in Russia or China or North Korea or a whole list of other countries?

Russia is a blip. They are what they are. Never will they be a world-dominating power. The bread lines may be back soon to Russia. They now live under a system where they're not able to speak freely. So you can't expect them to voice their true opinion, which might surprise a lot of you.

Completely agree with this view. I'm amazed how so many people here on ATS who most likely never left the comfort of the Western lifestyle cheer on the moves of a despot like Putin and his corrupt banking system, as well as all his other terrible abuses.

I bet none of these people would make it a year on a wage that the average Russian or Chinese gets, let alone the hours they have to slave for that petty income...

bjarneorn

Russa, and China, are the ones who are holding up the dollar. They are buying dollar, like candy for the only purpose of holding up the dollar value ...

No, not true.

Russians are buying dollars because that's what they want to keep money from gas in.

China has been buying dollars because they have been artificially lowering the exchange rate of their currency for decades in order to increase their own domestic industrialization at the expense of the USA.

In the late 1980's, England with the aid of the US, dumped trillions of Rubles on the Soviet Union ... and it is probably the biggest reason, along with the wheat draught, that caused the collapse of the Soviet Union.

Uhm, no. England didn't have "trillions of rubles" and besides not being an internationally tradable currency then and without a normal banking system inside the USSR, how would that make a difference?

Just imagine what will happen to the US, if China and Russia dumped all their dollars out on the market ...

OK, let us actually imagine this.

This means selling bonds, not just dollars as their reserves are in bonds. They would sell bonds and drive the price of their bonds down. Opportunistic hedge funds and central banks would buy them at a depressed price. Their domestic citizens would criticize them for losing money. Now after selling their Treasury and mortgage-backed bonds, they would have lots and lots of dollars in non-interest earning cash.

Now they would need to do something with that. What could they do?

Assuming they don't want to buy US-denominated bonds, they would uh, buy US denominated equities? or buy euros? So shifting their US dollar bonds to european Euro bonds? Increase EUR/USD exchange rate? What will they actually do with the dollars? If they sell them, what will they sell them for, and to whom? Will their citizens appreciate changing an interest-earning security for one which doesn't earn interest?

Of course for China the value of CNY vs USD would immediately go up as their bond-buying was designed to keep it down to protect their domestic plants. Now, many Chinese exports are much less competitive than before and there starts to be a domestic recession and their manufacturers are complaining. Their banks start having more bad loans to factories.

So in the end, US interest rates increase, US equities increase if China has to be bidding (to do something productive with their dollars), Chinese factories become less competitive and US factories become more competitive against CNY and EUR.

There was a memo that suggested that the Russians suggested this plan to the Chinese in the middle of the financial crisis. The Chinese wisely declined. There's a reason people think Chinese are really good at business: they are.

Telos

Elliot
Hmmm. Didn't Mr Saddam Hussain stop selling oil using the petrodollar?

Yes he did. Gaddafi was thinking to do the same going even further when planing to introduce a gold currency for all Africa. And we all know how it ended for both of them.

Because thinking you can 'will' a currency in your own image for political purposes is a syndrome of a clueless dictator like Saddam and Gaddafi, and they tend to have many other problems.

And if all of Africa wants a gold currency, what's stopping them now? What would Gaddafi particularly add to the pot?

What did the USA do when Europe unified into mostly a currency union? "Good going".

And if Africa made a gold currency? Would USA be 'scared'? Hardly---they'd think it's a good first step to stability if done reasonably. (and not by a crazy dictator)

This time though the "rebel kid" is not a woos but someone with balls of the size of a church bell. Putin is not Saddam or Gaddafi and Russia is not Iraq or Libya.

Saddam had plenty of balls, just not enough brains.

I invite Vladimir Putin to put up mighty Russian economy in economic battle by withdrawing his forces into a non-free-trading currency. If you're gonna take your marbles and go home: go for it. It works great for North Korea.

reply to post by maddy21


First of all I don't believe this article, but lets say for a second it is true.

Why would anyone trust the Russians to trade on their own currency? The Russian economy is 50% dependent on oil and natural gas, which is a fluctuating commodity. The United States can easily increase production and effect the cost of gas the same way they had the Saudi's help during the cold war. The United States would just have to agree to dislike Syria and the game is on. The Saudi's dump oil, bring the barrel down to around $90 and now Russia's entire GDP drops by 4% and they run deficits. The US can still release petroleum reserves for the next 5 years and drop the price lower, causing Russia a recession and killing their economy.

The Cold War already proved how to defeat Russia, and it can easily be replicated without firing a shot.

Can one de-link two fiat currencies--by fiat?

DarkSecret

AreUKiddingMe
I'm amused at the levity of some of the thread responders.

Actually, Bank Rossiya will be the only Russian bank to use exclusively the Russian ruble. This is the same bank that we (USA) hit with sanctions. They're trying to find a way to survive the sactions. That's all it is.

Some people here have their logic and facts all haywire. Maybe they don't keep up with current affairs. Maybe they haven't studied history at all. They seem to live in a dream world where the USA is the villain and the bad guys are actually good guys.

Did you people grow up in America? Do you realize the blood that was shed to enable you to have freedom of speech, something you could not even dream about in Russia or China or North Korea or a whole list of other countries?

Russia is a blip. They are what they are. Never will they be a world-dominating power. The bread lines may be back soon to Russia. They now live under a system where they're not able to speak freely. So you can't expect them to voice their true opinion, which might surprise a lot of you.

Completely agree with this view. I'm amazed how so many people here on ATS who most likely never left the comfort of the Western lifestyle cheer on the moves of a despot like Putin and his corrupt banking system, as well as all his other terrible abuses.

I bet none of these people would make it a year on a wage that the average Russian or Chinese gets, let alone the hours they have to slave for that petty income...

Well first it involves seeing through the facade of all the artificial discourses that form the structure of our western society, then earning enough of an education to form your own opinion instead of believing some story that is shouted at you through the television. You should try it sometime before acting like you are God's chosen people and everybody else in the world are evil heathens that should be killed for your safety. Not everybody in the west lives their lives in perpetual fear of the monsters outside of their own countries.

DarkSecret

AreUKiddingMe
I'm amused at the levity of some of the thread responders.

Actually, Bank Rossiya will be the only Russian bank to use exclusively the Russian ruble. This is the same bank that we (USA) hit with sanctions. They're trying to find a way to survive the sactions. That's all it is.

Some people here have their logic and facts all haywire. Maybe they don't keep up with current affairs. Maybe they haven't studied history at all. They seem to live in a dream world where the USA is the villain and the bad guys are actually good guys.

Did you people grow up in America? Do you realize the blood that was shed to enable you to have freedom of speech, something you could not even dream about in Russia or China or North Korea or a whole list of other countries?

Russia is a blip. They are what they are. Never will they be a world-dominating power. The bread lines may be back soon to Russia. They now live under a system where they're not able to speak freely. So you can't expect them to voice their true opinion, which might surprise a lot of you.

Completely agree with this view. I'm amazed how so many people here on ATS who most likely never left the comfort of the Western lifestyle cheer on the moves of a despot like Putin and his corrupt banking system, as well as all his other terrible abuses.

I bet none of these people would make it a year on a wage that the average Russian or Chinese gets, let alone the hours they have to slave for that petty income...

I congratulate both of you

And if I may add

The whole reason these conspiracy's are emanating from Russia China North Korea Syria et el... you know the really nice places in the world where everybody's free of oppression and corruption elites & bankers... is because they want you to hate your own governments in the west, they want you to tear it all down cause havoc from within, they see a weakness in our open society's and freedoms of speech, they see the inside threats we face from our tolerant multicultural society's that they themselves would never tolerate in there own great countries, they see the weakness of our systems and homegrown threats and seek to exploit them, and most of all they see how we live and want what you have and there jealousy drives them to want to take it from you for there own, let the dummies sleep to the real threats and problems our governments face to keep them Safe at night, and keeping you safe from those who want to take your jobs and the food from your mouths and your grand children's, on There heads be it

It's easy being

China
Russia
North Korea
Syria
Iran

They don't have to sort out and create peace and harmony within there on boarders that are fair for all nationality races and colour, these countries are the least multicultural, the most underdeveloped, uncivilised, biggest human rights abusers on the planet with the highest inequality In The world, The fact speak for themselves and only a true idiot could ever sympathise or get caught hook line and sinker for the obvious propaganda...

If people can't see these horrendous group of countries are in bed with each other for one reason only then I guess your free education has failed you and you should perhaps seek the benefit or free money for the rest of you life on Western welfare from your evil government

Oh right so Saddam and Gaddafi was a threat because of suggestion of a gold backed dinar that would never have worked? But only have served to satisfy one mans hatred?

There was a reason that Saddam and Gaddafi never went though with it and that's because it was a poorly thought through hate wank and a silly job at the west which had no support for anyone other state

I suppose that's what there still fighting each other for in Libya isn't it?

Gaddafis troops still fighting for a gold back dinar vs CIA brainwashed Zombies in Benghazi ?

Wow I love conspiracy's, especially hilarious baseless ones that are void of all common sense and logic

reply to post by the2ofusr1


It's all part of the plan. If there's going to be a war between bankers and Russia it's been planned for years. Every War is.

reply to post by TritonTaranis


No, the fighting in Libya is between secularists, who used to maintain stability in the country, and the islamofascist insurgency that the West backed to the point of providing over a thousand bombing runs for. Libya is now a spawning/training ground for the greater-regional Sunni Islamist insurgency.

The fighting in Iraq is between secularists, who used to maintain stability in the country, and the islamofascist insurgency that the West backed to the point of providing an imperialist invasion. Iraq is now a spawning/training ground for the greater-regional Sunni Islamist insurgency.

the2ofusr1
Be interesting to see how the markets respond on Monday .It really wasn't done to destroy the US or anyone else but to stop being destroyed by the system that is destroying every country that has bought into it .He is basically over turning the money changers tables ....peace

and every country that has attempted to do just that in history has been flung into war over it. the money changers will take him to war over this, not so good.

reply to post by pryingopen3rdeye


Things have changed in a way that the old way of doing things are getting harder .I think it might be the web or what ever .At one time the war in Syria would not have dragged on as long as it has . 9/11 would have been ancient history with most of us still in the dark about it .Turkey's plan for a false flag would have not got to the world . Snowden files and wikileaks that sort of stuff matters ...The MSM is becoming such a joke to more and more people every day ....I am not saying the bankers wont still try it ,in fact I am sure they may be trying to work out just how to pull it off but with the internet and a host of people able to use it ,it's much harder ....peace

Vovin
reply to post by TritonTaranis

 

No, the fighting in Libya is between secularists, who used to maintain stability in the country, and the islamofascist insurgency that the West backed to the point of providing over a thousand bombing runs for. Libya is now a spawning/training ground for the greater-regional Sunni Islamist insurgency.

The fighting in Iraq is between secularists, who used to maintain stability in the country, and the islamofascist insurgency that the West backed to the point of providing an imperialist invasion. Iraq is now a spawning/training ground for the greater-regional Sunni Islamist insurgency.

No the fighting in both countries is by groups who wish to maintain there own control and stability, as a direct result of the countries previous leaders failures as a leader

Stop taring the other to suit your agenda

And enemy of my enemy is a friend etc

The market has spoken about what currencies it wants:

online.wsj.com...

In currency trading: (total adds up to 200% because all trades are pairs of currencies)

US Dollar: 87.0%
Euro: 33.4%
Yen: 21.0%
UK pound: 11.8%
Australian dollar: 8.6%
Swiss Franc: 5.2%
Canadian dollar: 4.6%
Mexican peso: 2.5%
Chinese Yuan: 2.2%
NZ dollar: 2.0%
Swedish krona: 1.8%
Russian ruble: 1.6%
HK dollar: 1.4%
Singapore dollar: 1.4%
Turkish lira: 1.3%

Umm, I don't pretend to understand any of this at all, but how much of that US 87% is fake fiat money that the Federal Reserve is flooding the globe with? It's not based on real economic output, nor goods or services. It's just traders (traitors) on Wall Street, if that. And if Iceland can mostly decouple from the global banking economy (I think that's what they've done, maybe not) then a country as massive as Russia should be able to mostly fend for themselves. Are we all really so interconnected that we need to buy from and sell to everyone else on the planet? Wouldn't a bit of 'buy local first' go a long ways to calm the saber rattling down and save resources?

TritonTaranis

Vovin
reply to post by TritonTaranis

 

No, the fighting in Libya is between secularists, who used to maintain stability in the country, and the islamofascist insurgency that the West backed to the point of providing over a thousand bombing runs for. Libya is now a spawning/training ground for the greater-regional Sunni Islamist insurgency.

The fighting in Iraq is between secularists, who used to maintain stability in the country, and the islamofascist insurgency that the West backed to the point of providing an imperialist invasion. Iraq is now a spawning/training ground for the greater-regional Sunni Islamist insurgency.

No the fighting in both countries is by groups who wish to maintain there own control and stability, as a direct result of the countries previous leaders failures as a leader

Stop taring the other to suit your agenda

And enemy of my enemy is a friend etc

You say that the current destabilization is the result of "direct result of the countries previous leaders failures as a leader".

So you don't see any connection between the invasion of Iraq/ bombing of Libya and their current problems?

You're seriously telling me that I must be anti-American if I see the connection between current violence and previous imperialist intervention. This is deranged logic.

Are you aware of who the Wolf Brigade was and what they did during the "civil war"? Surely you must, since US special forces and CIA created them and provided them with lists of cultural targets. On top of this, the US military was directly responsible for not only allowing massive looting of artefacts and treasury, but they also destroyed historical sites by building their bases there?

Are you aware that of the NTC in Libya, one commander was once caught fighting western forces in Afghanistan? He was turned in, "interrogated", and ended up leading jihad against Ghadaffi. When the media picked up on this, the USA government promptly replaced him with a Libyan who was living in Langley VA for two decades.

mbkennel


Because thinking you can 'will' a currency in your own image for political purposes is a syndrome of a clueless dictator like Saddam and Gaddafi, and they tend to have many other problems.

Dictators? Really? Wasn't Saddam a dictator when was put in power by US and acted as their puppet until he got into his mind that he could change the reality in his region and get away from american grip? So we call dictators whoever doesn't play by our rules and wants to be immune by the chocking monetary control that PTB holds on us and the rest of the world. Saddam wanted to get away from the petro dollar. Was labeled a dictator, his country was attacked and he was hanged as a street dog. The rest is all history which we all know very well.

Then Gaddafi (poor dude) got in his head the same idea, realizing that the whole world is being held hostage by the international monetary system controlled by a handful of bankers who in turn run the politics and the lives of 7 billion people and decided to get away by trying to implement a gold currency which would free the most abused and raped continent in this globe, Africa. This guy was labeled right away as a dictator despite the fact that his people loved and respected him, despite the fact that his country was blooming under his guide. But how dare he went against bankers and their politics? So lets overthrow him, kill him in the middle of the street as a rat and make him an example for the rest of the continent. The message is clear: Don't you dare to change the way things are.

Who cares if the whole region was lit in fire with the so called Arab spring. Who cares that thousands lost their lives and their existence was shattered. The message got across. No more crazy leaders with crazy ideas about gold currency or no petro dollar.

And if all of Africa wants a gold currency, what's stopping them now? What would Gaddafi particularly add to the pot?

I already replied to this. What's stopping them now is the human fear to end like Gaddafi.

In addition to my post above, I'm not mad enough with the way things are in today's reality. We seam to be helpless and powerless to change this nightmare. But I can get mad and upset enough with the way masses think and act. Their dumb down never ends. Poor humanity...

From the looks of this, the only thing Putin is flushing is himself ....