The Russian State Duma considers banning the trade of U.S. dollar

Wednesday, November 13, 2013

The State Duma will discuss a draft resolution on U.S. dollar sales ban in Russia. The resolution was tabled in the Duma by a representative of the Liberal Democratic Party of Russia, Mikhail Giegtarjov.

If the bill adopted by the parliament, holders of dollar-denominated bank deposits will be forced either to spend or exchange their deposits for another currency, otherwise the banks will sell them, and account holders will be refunded in ruble.

The Liberal Democratic Party representative pointed out that an increase in U.S. government debt might make this step necessary. According to the representative, if the debt continues to grow at the same rate as it is now, in 2017, the U.S. dollar system will collapse.

(Oroszorszag Hangja –


Anonymous said...

An indication the Empire is financially collapsing (be design). The Globalists are collapsing the US in a similar manner to the Soviet Union - financially draining wars (Afghanistan), domestic de-industrialization and loss of international reputation through lawlessness.

Will Egypt form an alliance with Russia ?

Should Washington’s decision to interrupt it’s financial aid to Egypt, following General Al-Sissi’s coup d’état, be interpreted as the application of the law banning financial support to political regimes having ascended to power by violating the constitution, or as a consequence of it’s failing economy. This is the question that Thierry Messan had raised earlier in our columns [1]. If the second hypothesis is correct, then the interruption of U.S. subsidies is comparable to the end of the USSR’s subsidies to its allies, which foreshadowed the fall of the Berlin wall, followed by the collapse of the USSR and the triumph of the United-States...

Historical Economist Michael Hudson discusses the imposition of neo-feudalism by the Globalist Banksters.

Extra Economist

... “Well, try reading books about how England was in the thirteenth century. We’re moving, essentially, [to] Neofeudalism to make a long story short. People are going to find that instead of free government services as before, now they have to pay for them. And if they pay for these essential services – and most public services are essential, that’s why they’re in the public sector to begin with; to keep them out of the hands of monopolies— now all of the sudden the public services that were provided on a subsidized basis or freely are going to be privatized without any price regulation for it, and all of the sudden people are going to have to pay market prices that include interest charges, Wall Street underwriting charges, the cost of dividends, exorbitant management fees, bonuses for management, political contributions, buying off judges, buying off the courts, buying off the politicians to make sure that the people are not able to stop your gouging them. That’s how the system is developing.”

“And it’s not democracy anymore. We’re seeing a transformation from democracy into financial oligarchy. And essentially the word that used to be used for these people were rentiers. People living off their rents. Landlords, and now the monopolists.”..

Michael Hudson Italy speech

Modern Monetary Theory

Anonymous said...

There is a complex dynamic being played-out in the middle east to preserve the Empire's status as reserve currency through the "Petro dollar".

On Iran, Saudi Arabia and the Centennial of the Federal Reserve

...Washington is trying to preserve the petrodollar standard, which has been in existence for almost forty years. The foundation for the petrodollar standard was laid right there in the Middle East, when Saudi Arabia and other countries in the region signed special agreements with Washington in the 1970s in accordance with which they were to sell hydrocarbons exclusively for U.S....
The once-solid Middle Eastern foundation of the petrodollar standard is turning into a quaking bog before our very eyes... Events in the Middle East are an indicator that the U.S. dollar is in its death throes...

Saudi-US Row: Prince Bandar bin ‘Sulking’ Tries Old Bribe and Threat Trick Again

... If anything, the strategic US-Saudi arrangement has become even more entrenched since then as Saudi petrodollars shore up the US Treasury and the primacy of the American dollar as the world’s trading currency. This allows the American Federal Reserve to keep printing money – even though the fundamentals of the US economy do not merit the country maintaining this privilege of racking up endless debt.

As the world’s biggest exporter of oil and the pivotal force in the OPEC club of producing nations, Saudi commitment to the US dollar as the global means of conducting commerce is therefore a lifeline for Washington’s moribund economy...

The Iran Question – What Next?

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