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| Economy |
| Economic WWIII? |
| 2015-09-05 |
| h/t Gates of Vienna Russian President Vladimir Putin has introduced legislation that would deal a tremendous blow to the U.S. dollar. If Putin gets his way, and he almost certainly will, the U.S. dollar will be eliminated from trade between nations that belong to the Commonwealth of Independent States. In addition to Russia, that list of countries includes Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan and Uzbekistan. Obviously this would not mean "the death of the dollar", but it would be a very significant step toward the end of the era of the absolute dominance of the U.S. dollar. Most people don't realize this, but more U.S. dollars are actually used outside of the United States than are used inside this country. If the rest of the planet decides to stop accumulating dollars, using them to trade with one another, and loaning them back to us at ultra-low interest rates, we are going to be in for a world of hurt. Unfortunately for us, it is only a matter of time until that happens. Especially, if you keep using affirmative action to select your leaders |
| Posted by:g(r)omgoru |
| #8 but? |
| Posted by: Bright Pebbles 2015-09-05 19:40 |
| #7 The public sector was half of what it is now Yeah, but the service I get is twice as bad. |
| Posted by: Matt 2015-09-05 16:02 |
| #6 Grom nails it. |
| Posted by: OldSpook 2015-09-05 14:04 |
| #5 However did me manage prior to 1992? You didn't have 47% on "government assistance"? The public sector was half of what it is now? |
| Posted by: g(r)omgoru 2015-09-05 13:53 |
| #4 However did me manage prior to 1992? |
| Posted by: charger 2015-09-05 12:45 |
| #3 So what the combined total GDP of those countries? About the same as California. Want to buy all those nice things available in the West? Rubles are not accepted. |
| Posted by: Betty Hitler2611 2015-09-05 12:08 |
| #2 Resurrecting Gosbank? Yet another step toward the old Soviet Union by Putin. |
| Posted by: OldSpook 2015-09-05 10:30 |
| #1 While this is undoubtedly true it is also very incomplete. Why do all these countries trade using the dollar? The fact that, until now, the dollar has been the only reliable, safe and stable currency around capable of providing the necessary service. (See Greece, Spain, Italy on the Euro) The traders are not using dollars for sentimental or compassionate reasons. Until those reasons produce a different conclusion things will continue a pace. Whatever happened to the Yen? Of course this seems to be part of Zeros grand plan so................................................. |
| Posted by: AlanC 2015-09-05 09:05 |