PUTIN IS DOING IT – RUSSIA IS ACTUALLY ABANDONING THE DOLLAR

This is very troublesome. The US is actually much worse off financially than Greece. When people discuss the Greek national debt, what you see it what you get. When people talk about the US national debt, they are leaving out all the states, cities, etc. (The real number is somewhere north of $60 trillion.) What keeps us afloat is the fact that our currency is the global currency of choice for world trade and the reserve currency of choice for most central banks. Governments, businesses, and individuals all want/need to keep dollars in order to execute transactions, hedge against currency fluctuations, or just stuff in their sock drawer for a rainy day (note: that is not where I keep my stash, so lay off my socks). If the US dollar is no longer seen as the global reserve currency, it will collapse.

The Russians are actually making a move against the petrodollar.  It appears that they are quite serious about their de-dollarization strategy.  The largest natural gas producer on the planet, Gazprom, has signed agreements with some of their biggest customers to switch payments for natural gas from U.S. dollars to euros.

read more:  http://www.silverdoctors.com/putin-is-doing-it-russia-is-actually-abandoning-the-dollar/

About fafc

The goal of the “Find a Free Country Project” is to research, explore and find a safe and secure free country outside the USA, that is not too large, has a relatively open immigration policy, has a friendly business climate, has a non-intrusive government committed to freedom, and then move to it.
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2 Responses to PUTIN IS DOING IT – RUSSIA IS ACTUALLY ABANDONING THE DOLLAR

  1. Croatian Capitalist says:

    Good for Russia, not good for the USA, but still, I expect that the USD will remain the World’s main reserve currency for at least a couple of more decades.

    • fafc says:

      I wonder. The issue of “reserve currency” is a matter of trust. Something almost spiritual in nature. Something that can be lost in a blink of an eye. What troubles me is the possibility of a death spiral that is triggered by a “run on the bank” so to speak. If faith and trust in the US dollar falls, it could trigger a death spiral as people, businesses, and governments struggle to unload their US dollars.

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