Russia wants the ruble to be one of the world’s reserve currencies as President Dmitry Medvedev renews his push to reduce the dollar’s dominance and make Moscow a global financial hub.
“Only three, five years ago it seemed like a fantasy” to create a new reserve currency, Medvedev said yesterday in a speech in St. Petersburg, Russia. “Now we are seriously discussing it.”
Medvedev, who has repeatedly called for a supranational currency to match the dollar, said discussions with China are continuing on broadening the global options. Russia sold U.S. Treasuries for a fifth consecutive month in April, the U.S. Treasury Department said June 15. The world may need as many as six reserve currencies, Medvedev said.
“It’s something that’s obviously needed,” he said at the St. Petersburg International Economic Forum. “Developing a financial center in Moscow will considerably help to strengthen the ruble’s position as one of the reserve currencies.”
today I talked to this guy and he was a true sheeple, I told him about this blog and what was happening and he said this could not be true because it was not on his local news, wow are people really this stupid?
ReplyDeleteViable reserve currency is death for the dollar, which means the end of the USA. No more money printing and borrowing endlessly. Without money printing and more borrowing, massive, super deep, unbelievable cuts will have to be made to federal budgets. To the point that the US will no longer even resemble what it currently is.
ReplyDeleteAnd that makes me very happy. The only way the fiscal incompetence of the USA can be changed is to crash it first. America does not have the will to change it's economic disaster in the making - it has to crash first before Americans will learn their lesson that government can't pay for everything.
The crash and dollar collapse will be painful, but it's the best thing for the USA in the long run. The sooner it happens, the less pain it will take to get through it.
Americans need to learn the hard way. Some here know things need to change, but then you have neo-communists like Paul Krugman telling liberals and progressives that we should spend 10x more. He's psychotic, and a traitor.
However, I seriously doubt the Russians have the ability to lead the rest of the world to a new reserve currency. It will take more than them and China. When the Euro dives, and it will, the EU will join the pack as they seek to a reserve currency to try to "pass off their problems" to somewhere else in a spread the risk move.
6:48 he isn't really stupid or ignorant. He is deluded and brainwashed.
ReplyDeleteAdd in the fact that 1/2 of Americans are taking mind alternating drugs, anti depressants and the like, and you have the makings of a real life Matrix.
Hypnosis on a mass scale is very real unfortunately. Watch the Century of Self video series online to get a better idea as to how the elite accomplished all of this in the last 50-70 years.
US Dollar and Empire financially Nuked! Americans are sinking with the Bankrupt USS Dollar ship ,as the band plays “America the Beautiful” and the flag mast of debt is saluted. Russia,Iran, and China, dropped a nuke bomb on the US Dollar that was the world reserve currency in trade and finance ,when they began to sell their oil and gas priced in Euros and made commodity barter deals with other countries deals not dependent on a dollar finance whose $ value was being inflated away by government deficit spending ,printing paper to pay for permanent wars. This, coupled with the realisation that the seemingly safe AAA bond investments in the US issued by the banksters as with sub prime and government backed Fannie and Freddie Bonds were often fraudulent and not worth much more -or even less -that the paper they were printed on.
ReplyDeleteHigh waged America, de-industrialised America ,was creating insufficient real world wealth to pay for its consumerist lifestyles and make a real profit too !
The "services based" economy was running on credit borrowing every year from the rest of the world an amount of money about equal to the total after tax dividends paid out by its corporations. Credit supply, the money markets ,shut down as the Ponzi nature of the whole US economy was exposed. Business and the finance sector could only be bailed out by a financial coup in the US Treasury to prop the debt ridden economy by issuing printed paper to the banksters of Casino Capitalism in order to create fake profitability by socialising the losses for the taxpayers to pay .
Paper $ are being wildly printed to create an infinite credit supply.
As the US economy is no longer a great manufacturing power ,except for armaments , it has nothing to exchange profitably with other countries to 'export their way out of debts” and pay in exchange real value for their imports. The old foreign debt driven consumerist lifestyles and property bubbles are imploding as the dollar has been Nuked!
The Empire wears no clothes its nakedness clear
But, with dreams of Empire “recovery” of credit supply as in the Golden years but with the bailouts for banksters and treasury bondholders continuing, as well as with a trillion in militarist deficit spending every year ,there is little leftover that the government can do to bail out the states and social security or the pension funds as the fictional bubble value of their assets collapse . So the old living standards of Americans , based on a now nuked dollar, under “Free Trade”, will drop to third world levels . Austerity Rules O.K. ! The middle class with assets ,are being looted by the ruling Elite as in the former USSR when its economy imploded and it could not keep up its interest payments to foreign capital. The American debt pigs and pensioners will have to learn to eat cheaper pig food to survive
“Americans need to learn the hard way. Some here know things need to change, but then you have neo-communists like Paul Krugman telling liberals and progressives that we should spend 10x more. He's psychotic, and a traitor.”
ReplyDeleteYour attitude is bring on the Crash and the devil take the hindmost .Bring on the pain!
.. “To the point that the US will no longer even resemble what it currently is ... “ And that makes me very happy.”.. The only way the fiscal incompetence of the USA can be changed is to crash it first. America does not have the will to change it's economic disaster in the making - it has to crash first before Americans will learn their lesson that government can't pay for everything.”
Strong brave Words!Especially as capitalism has created an overpopulation of people in the who can no longer be profitably employed?
A debt ridden capitalism is in the midst of a cleansing process, as an over accumulation of fictionally valued capital, in debt created bubbles ,cannot get a real profit return and are being devalued. Internationally overproduction of commodities has occurred , commodities that cannot be sold at a profit in the competition ,despite real demand and peoples needs. America was living on foreign credit.
In order to save that now, non functional , anarchistic, international Free trade for Capital, production and wealth distribution system ,that has got out of wack, You will be “Happy” with and prefer a crash and burn, kickstart,reset “solution” , at whatever social costs by squeezing the unemployed ,those on food stamps etc.whatever it takes . That is your idea of “patriotism” as a more “Pure” capitalism that has no social content or conscience . Capital must have its dues ,its pound of flesh. “Traitors” must be exposed! Government spending is painted by you as the cause of the collapse of a great system and preventing its rebirth via a savage quick cleansing process. Quick and good for society ,or quick and good for capital?
The word and behaviour “Traitor “, has a social , national and class content under capitalism. Krugman is a Keynesian hoping to ameliorate the dire living conditions the economic crisis threatens them with ..to ride out the crisis ,with more bailouts for the rich ,to try and stimulate capitalism, without crash and burn and to head off any potential revolution from the unemployed.
Both you and Krugman have the same class aim, to preserve and restart the bankrupt system and restore profitability for capital at any cost . Krugman would probably consider you the dangerous reckless “traitor” to your class and its long term need to preserve the system.
When people turn away from their own moral compulsions and begin a path of self deception they make themselves vulnerable to destructive forces.
ReplyDeleteSimple truths, plainly evident.
I wish all men peace holding it not against anyone their present condition due to the delusions of the material existence.
The Lord is far more than most understand or realize.
The NWO Sanctioned invasion of Tibet in 1996 by China was to rid the world of the powerful peaceful GRACE that helped hold our world together bestowed upon mankind by the kind souls of 1000's of devoted monks spending lifetimes in prayer.
The psychic war is very real indeed.
When the Chinese invaded Tibet and eradicated the last bastion of true Holiness upon this planet we entered the great tribulation period.
May God's love be with you...
A serviced based economy that spends 25% of it's g.n.p. on disease-care that doesn't work must eventually fail. 2 trillion government subsidized dollars....if we used that to pay down the deficit and consequently paid our workers and let them handle their retirement and "health" care on their own we could compete and export once again....let's thank Marcus Welby for making us physically and fiscally sick!!!
ReplyDelete