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Europe
Putin says US itself killing dollar as reserve currency
2021-10-14
[RT] Washington itself is undermining the US dollar as the world’s reserve currency by using it as an instrument of sanctions abroad, while raising the national debt and inflating at home, said Russian President Vladimir Putin
" ...President-for-Life of Russia. He gets along well with other presidents for life. He is credited with bringing political stability and re-establishing something like the rule of law, which occasionally results in somebody dropping dead from poisoning by polonium or other interesting substance. Under Putin, a new group of business magnates controlling significant swathes of Russia's economy has emerged, all of whom have close personal ties to him. The old bunch, without close personal ties to Putin, are in jail or in exile or dead from poisoning by polonium or other interesting substances...
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"It seems to me that the United States is making a very big mistake by using the dollar as a sanctions instrument... by preventing payment in dollars for the sanctioned products," Putin told CNBC’s Hadley Gamble on Wednesday, after a panel at the Russian Energy Week.Countries facing US sanctions, like Russia, "have no other choice, we are simply forced to switch to settlements in other currencies," he added. Gamble had asked about the possibility of using cryptocurrencies such as Bitcoin to sell oil and gas, something Putin welcomed in principle but said it was "too early," citing crypto’s volatility.

Russia is happy to use dollars in energy trade — for now — and has now plans to ditch the US dollar entirely, Putin noted, but "if the policy of the American authorities continues... then we will not have to do anything, the US will itself undermine confidence in the dollar."



Posted by:Fred

#7  DC is a parasite infestation.
Posted by: Ebbomoger Speaking for Boskone4589   2021-10-14 18:34  

#6  Deliberately too
Posted by: DarthVader   2021-10-14 08:52  

#5  Here come da stagflation. Another commodity supercucle, even.

That's great news for Russia, the Russian people and for the stock prices of Russian oil, gas and metals companies.
(Also for investors in South Africa's leading palladium-platinum-gold-lithium miner SBSW...)
Posted by: Patriot   2021-10-14 07:44  

#4  American commie movement - better to reign in hell than serve in heaven.
Posted by: Procopius2k   2021-10-14 07:22  

#3  

Its starting to get scary when Putin, a former KGB agent of the USSR, is making more sense that those in Washington DC.
Posted by: NN2N1   2021-10-14 07:20  

#2  Gamble had asked about the possibility of using cryptocurrencies such as Bitcoin to sell oil and gas, something Putin welcomed in principle but said it was "too early," citing crypto’s volatility.

Also tells you he knows something about investments. Currency valuations cannot be depended upon. Land prices on the other hand have historically trended upward.

Posted by: Besoeker   2021-10-14 05:51  

#1  He ain't wrong.

The dollar has just become another weapon in the hands of our elites, to accomplish their goals at the expense of our own.
Posted by: Omomolet Phutch9064   2021-10-14 05:23  

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