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“Thank God This Is Happening” Russia Says Time Has Come To Ditch The Dollar


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With the US unveiling a new set of sanctions against Russia on Friday, Moscow said it would definitely respond to Washington’s latest sanctions and, in particular, it is accelerating efforts to abandon the American currency in trade transactions, said Russia’s Deputy Foreign Minister Sergei Ryabkov.

The time has come when we need to go from words to actions, and get rid of the dollar as a means of mutual settlements, and look for other alternatives,” he said in an interview with International Affairs magazine, quoted by RT.

“Thank God, this is happening, and we will speed up this work,” Ryabkov said, explaining the move would come in addition to other “retaliatory measures” as a response to a growing list of US sanctions.

Previously, Russian Energy Minister Aleksandr Novak said that a growing number of countries are interested in replacing the dollar as a medium in global oil trades and other transactions.

“There is a common understanding that we need to move towards the use of national currencies in our settlements. There is a need for this, as well as the wish of the parties,” Novak said.

According to the minister, it concerns both Turkey and Iran, with more countries likely to join the growing dedollarization wave.

“We are considering an option of payment in national currencies with them. This requires certain adjustments in the financial, economic, and banking sectors” to accomplish. Last week, we reported that the Kremlin was interested in trading with Ankara using the Russian ruble and the Turkish lira. India has also vowed to pay for Iranian oil in rupees.

Meanwhile, the world’s second-largest economy and Washington’s trade war nemesis, China, has been taking steps to challenge the greenback’s dominance with the launch of an oil futures contract backed by Chinese currency, the petro-yuan. China and Iran have already agreed to stop using the dollar in global trade as China has ramped up purchases of Iranian oil in defiance of US sanctions.

zerohedge



29 Comments on "“Thank God This Is Happening” Russia Says Time Has Come To Ditch The Dollar"

  1. makati1 on Sat, 25th Aug 2018 9:13 am 

    The Us is being isolated and shoved out of the limelight. Trumpet is killing America one day/country at a time. China and Russia are moving in to the empty space left when the Us is pushed out.

    Almost every day, another country moves away and joins the anti-dollar team. It is only a matter of time, Americans, until you have nothing of value that the world wants. Then you will learn what the real world is like and you will not like it. lol

  2. Outcast_Searcher on Sat, 25th Aug 2018 10:56 am 

    Another idiotic blather from madkat.

    The US still has the highest GDP in the world. When it isn’t in, say, the top 50 (much less the top 10), get back to us on how the US has NOTHING the rest of the world wants.

    As a US taxpayer, I’d just as soon not be providing the military umbrella for much of the western world, etc.

    But do blather on. You and zerohedge are like two peas in a pod — thousands and thousands of bad predictions over time, and very few correct ones.

  3. MASTERMIND on Sat, 25th Aug 2018 11:03 am 

    Outcast

    US GDP is all imaginary since 2000..That is the year energy consumption and median income peaked..That is also the year illegal border crossing’s peaked as well..

    https://imgur.com/a/pYxKa

    US economic growth (GDP) since 2000 is all an illusion
    https://nypost.com/2014/11/06/us-economic-growth-is-all-an-illusion/

  4. Outcast_Searcher on Sat, 25th Aug 2018 11:32 am 

    In your mind, reality is imaginary, and your reality is all about made up stuff. So much for ANY credibility on your part. But thanks for playing.

    Speaking of the real world vs. your fantasies, you complain a lot about a collapsing US dollar. Yet in the real world, I see articles discussing the strong US dollar causing issues.

    Looking at a year, 5 year, or 30+ year US DXY chart, the dollar is doing JUST FINE and has been strong recently.

    https://www.tradingview.com/symbols/TVC-DXY/

    In doomers’ view, everything is bad. If energy consumption decreases, that’s “bad”, yet if likely reflects the fact that energy intensity per dollar of GDP continues to fall (and will continue to for decades) in the US and globally. i.e. car fleets, light bulbs, etc. get more efficient, which is good.

    But if more energy is used, like more oil produced and consumed globally every year the global GDP is positive, then you doomers crow that it is unsustainable and we’ll all die real soon.

    SO WHICH STANDARD SHOULD WE USE.

    As per median income peaking since 2000, that’s just COMPLETE BULL SHIT, like most of your nonsense.

    The US has been setting records for median household income, even for the middle class, every year in recent years. 2000 was a local peak, but it has been surpassed for years.

    https://www.businessinsider.com/us-census-median-income-2017-9

  5. Outcast_Searcher on Sat, 25th Aug 2018 11:37 am 

    I know this is hard to believe madkat, but a non-credible collapse blog using obsolete charts does NOT reflect the center of reality.

    Get your head out of that mode of thinking, and perhaps you’ll wake up.

    But that’s not what the Cassandras want to believe, so you won’t consider it.

    Good luck continuing to short oil and the global stock markets decade after decade, awaiting collapse, since the doomer blogs tell you to.

  6. MASTERMIND on Sat, 25th Aug 2018 11:52 am 

    Outcast

    US median income raised every year that GDP increased between 1985-2000..It raised on average over 500 dollars a year..

    US median income 1999-2017 US has raised 300 dollars total in 17 years..

    It hasn’t even increased as much as it did for one year between 1985-2000..In over 18 years..

    Source: Federal Reserve
    https://fred.stlouisfed.org/series/MEHOINUSA672N

    The US economy isn’t growing..Not even close..

  7. MASTERMIND on Sat, 25th Aug 2018 11:58 am 

    Outcast

    Let me educate you..I can tell you are coming unhinged..

    Global GDP

    1973 6.5%

    1984 4.5%

    1996 3.3%

    2016 2.5%

    2030 0.0% (Extrapolated) > Economic collapse

    Source: World Bank
    https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locati

  8. MASTERMIND on Sat, 25th Aug 2018 12:08 pm 

    Outcast

    Sorry I underestimated..Median income rose 622 dollars a year annually between 1984-1999..

    Median income has risen 374 dollars total from 1999-2017..Which is only 20 dollars annually..

    Source: Federal Reserve
    https://fred.stlouisfed.org/series/MEHOINUSA672N

    This is a lesson for you ..Dont you ever call me a liar again..I will fucking bury you with statistics and hard data..

  9. dissident on Sat, 25th Aug 2018 12:24 pm 

    About time for the US to face reality. It has gotten away with Pancho Villa style dollar printing because there is global demand for it. This sterilization prevents hyperinflation in the USA. As global demand for the dollar drops, the printing press approach will have an immediate effect on US domestic inflation and the good old days will be over.

  10. Cloggie on Sat, 25th Aug 2018 12:39 pm 

    About time for the US to face reality. It has gotten away with Pancho Villa style dollar printing because there is global demand for it. This sterilization prevents hyperinflation in the USA. As global demand for the dollar drops, the printing press approach will have an immediate effect on US domestic inflation and the good old days will be over.

    GDP -40%

    Think Slovenia.

  11. MASTERMIND on Sat, 25th Aug 2018 12:49 pm 

    Clogg

    alex jones loves transgender pornography

    so during a livestream alex jones showed all the tabs he had open in his browser and inadvertently revealed his pornographic interests

    Pic
    https://i.imgur.com/qnlde0i.jpg

    livestream video clip
    https://my.mixtape.moe/errymg.mp4

    porn video 😉
    https://www.xtube.com/video-watch/naughty-t-babe-marissa-minx-and-moka-mora-hot-sex-35816991

    FAG BOY!

  12. Davy on Sat, 25th Aug 2018 1:38 pm 

    Repost:

    More hype from desperation from those who are not positioned well enough to dethrone the dollar and are on the receiving end of an economic and political Americana in decline. We are in a brittle late term civilization with a self-organizing global interconnected economy unable or willing to change. Changes will be made around the edges. Most niches are filled but niches can be subject to the slow process of attrition that comes from creative and destructive effects of change from growth and decline. Bilateral and regional arrangements are likely the next force to drain globalism of vigor but this is a parasitic process. As regions drain the global host they will themselves lose economic vigor. The US and its economic adversaries will only cause decline on themselves by this conflict. These are zero sum gains in the long run. The dollar is here to stay as a significant reserve currency component until the global system ends as we know it. How much the dollar declines likely rest with how far the US will go to cause the decline? The reality of this decline is primarily the weaponization of the dollar which is just a result of economic and political failure of the US. It will likely be the case that this dollar issue will be a moot point once decline has run its dangerous course to economic collapse IOW there will be no replacement by then because there will be no global economy. In the meantime the dollar will remain essential to world trade as China, Russia, and EM adversaries of the US battle to de-dollarize their economies. Some of these economies are so small as to make their efforts meaningless in the bigger picture.

  13. print baby print on Sat, 25th Aug 2018 1:44 pm 

    Outcast it really looks like that you are right because people like we doomers look at the things sometimes only from the bad side but however you look on the current human situation only to delusional or malicious deniers things can look ok. This what human race does to the planet is UNSUSTAINABLE. Who doesn’t see this is simply plane stupid, or has some interest in deceiving the public

  14. makati1 on Sat, 25th Aug 2018 6:20 pm 

    dissident: “About time for the US to face reality.” The sooner, the better for the rest of the world. Today?

  15. makati1 on Sat, 25th Aug 2018 6:56 pm 

    From America’s own playbook…nuclear war?

    “… Russia should possibly suspend the implementation of treaties on non-proliferation of missile technologies, and also follow the US example and start deploying our tactical nuclear weapons in foreign countries. It is possible that Syria, where we have a well-protected airbase, may become one of those countries.”…

    Such rhetoric involving the the deployment of nukes in a theater in which US and Russian forces have already had a series of near misses in terms of direct military confrontation is extremely worrisome, and signals a return to a Cold War-style of escalating scare tactics and nuclear threats.”

    https://www.zerohedge.com/news/2018-08-25/russian-official-suggests-deploying-nuclear-weapons-syria-respond-us-sanctions

    We are closer to a nuclear war than any time since the Cuban missile crisis of 1962.

  16. Outcast_Searcher on Sat, 25th Aug 2018 8:12 pm 

    Mastermind, you constantly bury yourself with nonsense. Changing the story doesn’t change your lies and false predictions. The GDP now is higher now than in 2018 for the US, overall, and per capita. UNLIKE what you claimed.

    Try burying yourself in data so you learn to say things accurately.

  17. makati1 on Sat, 25th Aug 2018 8:31 pm 

    Outcast, the Us GDP is all lies. It hasn’t really grown since at least 2000. American’s purchasing power is about the same as it was 40 years ago, or 1978.

    https://www.reddit.com/r/lostgeneration/comments/95tsnx/average_american_paycheck_has_about_the_same/
    or
    http://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

    When your annual raise is, say, 3% and the real annual inflation rate is 5%+, not the ~1% claimed by the government, you lose. That is the reality of the situation. Fake numbers everywhere to fool the sheeple into believing that things are getting better when, in reality they are not.

  18. MASTERMIND on Sat, 25th Aug 2018 8:31 pm 

    Outcast

    The Great Depression 1929-1940 US Economic Growth GDP (1%)
    https://en.wikipedia.org/wiki/Great_Depression

    The Great Recession 2006-2017 US Economic Growth GDP (1.5%)
    https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locati

    *Note: 20% Great Recession 2006-2017 (GDP) includes (FIRE) finance, insurance and real estate

    From 2007 to 2016, US productivity grew at about 1 percent—a historic low
    https://www.bls.gov/opub/ted/2017/labor-productivity-growth-since-the-great-recession.htm

    We are in another depression..Look at all the parallels of history..Fascism rising, trade wars, police brutality, and dust bowl weather..

  19. MASTERMIND on Sat, 25th Aug 2018 8:34 pm 

    Outcast

    The 1% grabbed 82% of all wealth created in 2017
    http://money.cnn.com/2018/01/21/news/economy/davos-oxfam-inequality-wealth/index.html

    US wealth inequality – top 0.1% worth as much as the bottom 90%
    https://www.theguardian.com/business/2014/nov/13/us-wealth-inequality-top-01-worth-as-much-as-the-bottom-90

    78% of Americans live paycheck to paycheck
    https://www.cnbc.com/2017/08/24/most-americans-live-paycheck-to-paycheck.html

    Middle class no longer dominates in the U.S.
    http://money.cnn.com/2015/12/09/news/economy/middle-class/index.html

    Our Broken Economy, in One Simple Chart
    https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequality.html

    American’s personal savings is near an all time low
    https://fred.stlouisfed.org/series/PSAVERT

    Don’t believe the lies about the US being at ‘full employment’
    https://nypost.com/2018/01/08/dont-believe-the-lies-about-the-us-being-at-full-employment/

    59 percent of Americans consider this the lowest point in US history
    https://www.cnbc.com/2017/11/03/59-percent-of-americans-consider-this-the-lowest-point-in-us-history.html

    Outcast:I could go on and on you nut job..

  20. makati1 on Sat, 25th Aug 2018 8:41 pm 

    Bravo MM! That is quite a collection of proof of what I have been saying. America is already collapsing.

  21. Free Speech Forum on Sun, 26th Aug 2018 5:10 am 

    What’s wrong with freedom?

    China used to want to be a Communist police state, but decided to open up
    a little when tyranny failed.

    Americans used to love freedom and fought
    Nazis and Commies, but now Americans have decided to ignore history and become Nazis and Commies.

    Alcohol used to be considered dangerous and was outlawed, but was legalized again when Americans found out that it wasn’t so
    bad.

    Marijuana used to be considered dangerous and was outlawed, but was legalized again when Americans found out that weed isn’t so bad.

    Now Americans want to ban guns, but how can they be so sure that they are correct now when they were wrong before?

    The cure for evil and disorder is more liberty, not suppression.

    Holland has legal prostitution and drugs, but they aren’t collapsing.

    https://thetravelhack.com/europe/amsterdam/sex-and-drugs-in-amsterdam/

    Tyranny doesn’t work because everyone is a criminal when everything illegal and you must eventually make exceptions.

    Italy has now legalized theft.

    https://www.nbcnews.com/news/world/italian-court-rules-stealing-food-not-crime-if-you-re-n567141

    Illegal immigrants can now start businesses in Los Angeles.

    https://losangeles.cbslocal.com/2017/01/31/la-city-council-street-vending/

    Sex offenders get pardons so that they can vote.

    https://theislandnow.com/new_hyde_park-108/phillips-cuomo-pardons-give-hall-pass-to-sex-offendors/

    Sex in public is now legal in Mexico.

    https://www.wkrn.com/news/sex-in-public-is-now-legal-in-guadalajara-mexico/1384770713

    Self-serve gas is illegal in New Jersey, but every other state manages to survive with self-service gas stations.

    Think.

  22. twocats on Sun, 26th Aug 2018 7:52 am 

    I liked this article (from ZH ?! what?!), keeps it simple in analyzing the battle lines of the current currency situation

    https://www.zerohedge.com/news/2018-08-25/turkeys-crisis-and-dollars-future

    not that I agree with everything in there, but it doesn’t fall into the usual tropes while giving short term and long term analysis.

  23. duh on Sun, 26th Aug 2018 3:56 pm 

    Free Lies Forum: people like you need to be shot so the rest of us can have peace and freedom.
    Holland is full of soulless zombie fags

  24. makati1 on Sun, 26th Aug 2018 6:19 pm 

    duh is the brainwashed one here. He thinks that “killing the messenger”, FSF, changes the message. FSF only points out the truth.

    “Americans used to love freedom and fought
    Nazis and Commies, but now Americans have decided to ignore history and become Nazis and Commies.” Right on!

  25. Theedrich on Sun, 26th Aug 2018 10:34 pm 

    The globalizing mulattoizer, the Great RINO died.  There is a God.  His accomplice, the Big Flake, will soon leave office as well.  Maybe Arizona will get senators with some backbone to resist the anti-Whites.  One can only hope.

    But the Great RINO wrought a lot of ominous changes in the military posture of the U.S.  He was personally responsible for the threatening movement of missilery close to the borders of Russia, and the generally antagonistic approach of Yankeeland toward that country.  As a partial reaction, Russia is now secretly supplying the Taliban with weapons and other supplies in Afghanistan, the country of eternal war.

    Thank you, O sicko one.  Maybe the North Vietnamese should have eliminated you while they had the chance.

  26. MASTERMIND on Mon, 27th Aug 2018 12:13 am 

    Theo you and Clogg are the elites useful idiots..

    The elites divert attention from their pillage by blaming foreign countries such as China or undocumented workers for the economic demise of the working class.

    “It’s a classic ploy of crooked politicians stuck with a problem of their own making, blaming somebody else,” Wolff said. “We take the poor 10 or 11 million immigrants in this country with questionable legal status and we demonize them. We scapegoat them. They couldn’t possibly account for the difficulties in this economy. Throwing them out does not fundamentally change the dynamics of the economy. It’s childishly easy to show this. But it’s good theater. ‘I am smiting the foreigner.’ ”

    https://www.truthdig.com/articles/becoming-serfs/

  27. Cloggie on Mon, 27th Aug 2018 12:30 am 

    He was personally responsible for the threatening movement of missilery close to the borders of Russia, and the generally antagonistic approach of Yankeeland toward that country.

    Not to mention sabotaging South Stream:

    https://www.mccain.senate.gov/public/index.cfm/2014/12/statement-by-senator-john-mccain-on-cancellation-of-russia-s-south-stream-gas-pipeline-project

  28. MASTERMIND on Mon, 27th Aug 2018 12:44 am 

    Clogg

    The wealthiest ten percent in your country hold around 70 percent of your countries total wealth..And you spend all of your time squealing about migrants, because the elites media tells you too..You are the greatest gift to the elites..And they are damn happy you are taking out your economic frustration on the nobodies..

    https://imgur.com/a/sdBwTFQ/

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