Russian President Vladimir Putin succinctly summarized the shifting tectonic plates of geopolitics.
Vladimir Putin: "The Dollar Enjoyed Great Trust Around The World. But For Some Reason It Is Being Used As A Political Weapon, Imposing Restrictions. Many Countries Are Now Turning Away From The Dollar As A Reserve Currency. US Dollar Will Collapse Soon." pic.twitter.com/03WunqgCDd
— Ben Rickert (@Ben__Rickert) November 15, 2019
First he explained the status quo…
“The Dollar enjoyed great trust around the world. But, for some reason, it is now being used as a political weapon to impose restrictions.”
Then Putin explained the consequences…
“Many countries are now turning away from the Dollar as a Reserve Currency.”
And ultimately what happens…
“US Dollar will collapse soon.”
And just like that, it was gone. Remember “nothing lasts forever”…
As Bloomberg reports, Russia’s central bank has been the largest buyer of gold in the past few years.
Source: Bloomberg
Of course, Putin is not the first (and won’t be the last) to suggest the end is nigh for the dollar…
The World Bank’s former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system.
“The dominance of the greenback is the root cause of global financial and economic crises,” Justin Yifu Lin told Bruegel, a Brussels-based policy-research think tank. “The solution to this is to replace the national currency with a global currency.”
Warren Buffett once explained that “for 240 years it’s been a terrible mistake to bet against America, and now is no time to start.”
We don’t mean to rain on his parade too much, but the following charts suggest time is ticking, as the world transitions from dollars to non-fiat reserves…
Source: Bloomberg
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This is the biggest issue behind the curtain. I suspect China , Russia, and a few other nations have those 38,000 Clinton emails. And will do anything and everything for her to be the US representative at the next Plaza accords.
The US is the reserve currency because 90% of bonds designed to draw in foreign investment are denominated in dollars.
As Stew Leonard said “The customer is always right”. Bond issuance is organic and bottom up.
What the rest of the world wants is an artificial inorganic and top down global currency for international transactions. An SDR based on a basket of foreign currencies.
You can figure out the rest from there. It’s going to be like the Euro. Where a central unelected authority will determine the tax and spend regulation of every nation. How else can it work for weak countries like Greece and be fair for strong countries like Germany?
One World Government is no conspiracy..
We have a central unelected authority determining the tax and spend regulation of the US called the FED.
So Smart Ass, how is the FED determining how much government spending and what level of taxes for the residents of the state of California ?
So smart ass, what does Cali have to do with this article and you’re reply to it?
I’m making the anology that California is equivalent to France or Greece.
The Federal Reserve can not buy California state debt.
Where as the ECB does buy state debt of member states.
As a US citizen, I could care less how California runs its affairs.
If I were a German , I would be very concerned about Greece.
Your getting a preview of a World Government.
Putin could sell all the oil he wants for Rubles. He will just have to buy dollars if he wants anything in exchange on the world market.
Ahhhh….wouldn’t selling gold get him anything he wants?
anano.
Have you been paying attention to world news? The world is de-dollarizing rapidly. Putin and everybody else has been hoarding gold. Putin developed his own swift system and joined it with China’s. The EU is buying his gas with Euros and he’s buying STUFF with it.
You are correct about the world government and when we get in line for our SDR’s our feelings are gonna get hurt.
http://humansarefree.com/2017/10/the-un-is-normalizing-pedophilia-deep.html?utm_campaign=shareaholic&m=0
The dollar is still the most stable currency on the planet. When you consider the BRICS and what a basket of these currencies would do would probably equal a basket case for sure.
And technically a ship at the bottom of a shallow lake is not as far down as one at the bottom of a deep ocean….but they are both hopelessly under water. As we are now in a race to the bottom, its only about who will get their FIRST.
“Paper money eventually returns to its intrinsic value — zero.”
~ Voltaire
I doubt the $ will “collapse”. More likely to become just another currency and get replaced globably by something different.
“For some reason it is being used as a political weapon.” ????? The GOAL was to be able to use it as a weapon. From the day the Federal Reserve was created, the dollar has been a weapon used against the American people on behalf of the banksters, and since the end of WW2 and the Bretton Woods agreement, it has been a weapon used against the rest of the world. When the dollar (Federal Reserve Note) is 1/2 of EVERY global transaction in oil, and millions of other transactions in goods, it is nothing short of inevitable that it will be used as a weapon, but that has always been the intention of those who know that ICBMs can’t reach their target and do harm without everyone realizing where they came from. With money, the devastating damage is far more insidious, far more damaging, and far easier to dismiss.
The current US dollar and it’s perceived value will collapse. Not a matter of if, but when, and how hard.
What currency it’s replaced with and how the exchange rate will be determined is still a topic for discussion. Back when we were on a metal standard the Coinage Act of 1792 pegged a dollar’s value at 24.1 grams of pure silver. One troy ounce is about 31.1 grams and going for about $17 fiat at market rates. IMO, that means a contemporary dollar made of silver is severely undervalued.
Makes sense to have something of value for insurance purposes just in case Pootin is right. The little people are going to get blindsided, again.
And we wonder why those bags of shit that occupy congress and the senate hate Putin from left and right ?
For shit sake be just told the entire world what the circle jerk of Wall Street to K-Street to Capitol Street have been doing for decades and they are running out of rope to hang themselves with !