BOOM! That Was Quick: Vladimir Putin Says Russia Is Not Abandoning the US Dollar (Video)
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There’s going to be a LOT of coping and Seething. From a lot of people. In particular the people who made bets on DeDollarization and BRICs.
Though I’d imagine no shortage of Foreign Governments and Business Leaders are also angry. Even if they keep it on the DL.
BRICS is not going away. Far too many countries that are in BRICS are already trading in their own currencies. Sovereign Nations cannot and will not live in fear knowing if they upset the US they will be sanctioned. Also Russia is the world's leading natural resource giant with $75 Trillion in Natural Resources. Russia doesn’t need any other country to survive. Being in BRICS allows them to trade with other BRICS nations. Also BRICS has far greater populations than the G7 nations. Could it be that what Putin means is that Russia and the US trade in their own currencies? Just sayin.
Putin has said this. Why does Zimbabwe need to convert to USD or a euros to trade with South Africa. Makes no sense.
Putin is deflecting the blame from him, so people can't say "Russia" attacked the dollar and did this to us! Putin is playing it smart and deflecting so that another "bad guy" can be found and hopefully it is the banks that are pointed to. Putin said nothing of only using and supporting USD, it will just be another option to trade with. BRICS will probably happen, and de-dollarization is happening as a unit of trade and as a money reserve in foreign countries. Even Euro holdings are going down as smaller nations divest.
Have fun holding onto your fiat and 401k. It's too calm now and the market is flying, they can pull out their investment and crash the economy before Trump takes office. By playing it "nice" they can say they didn't do anything. This is the calm before the storm...
We have to remember Russia and The United States were once friends. Catherine The Great of Russia helped the U.S. during The Revolutionary War and Alexander II of Russia helped the U.S. during The Civil War.
When the Bolshevic's murdered the last Emperor Of Russia Tzar Nicholas II and his entire immediate family ( The Romanov's ) along with the sinking of Titanic and the establishment of the IRS, the U.S. and Russia went their separate ways.
We were friends before and in the not to distant future we will be friends again.
When the US, France and Germany betrayed Russia on the signing of the Minsk Accords, Putin was said to be shocked, then dismayed at this betrayal. He hasn’t forgotten it and will do everything as Russian leader to protect the Russian people. They have suffered enough. Most westerners do not know that Russia lost 27 million people in WW2. In fact it was the Soviets that defeated the Nazis in Berlin. The country was destroyed. Then the collapse of the Soviet Union, heralded the formation of Russia. People still think the Soviet Union is still in existence- it’s not. Slowly Russia began to develop and bit by bit its people began to recover from the past horrors. Then another betrayal came. The Minsk Accords in 2014/15 https://www.wsws.org/en/articles/2022/12/22/ffci-d22.html It will be a long time before Putin trusts the west again.
The US dollar in its current form needs to be abandoned, though. Its value is backed by nothing & the only value it has is what some entity proclaims it has to the rest of us.