This post first appeared on FloatingPath
In light of quantitative easing, it’s understandable that some governments may be a bit nervous about the strength and integrity of the U.S. Dollar, but no one seems more worried than Mikhail Degtyarev, who just sponsored a bill in Russia’s Duma to outlaw dollar ownership.
The bill would set a timeframe allowing all citizens to spend or exchange their dollars. Upon completion of dollar withdrawal from the citizenry, all Russian banks would then be required to sell their dollars.
The idea behind the bill is to safeguard Russia from the “negative influence of the American debt pyramid”
“The proposed restrictions can be treated as a declaration of a start of a new, dollarless, international currency system, giving the status of the world’s reserve currency to the Russian ruble, and eliminating the resident banks’ dependency on the American dollars,” the memo attached to the bill reads.
It’s worth noting that Degtyarev recently ran for Mayor in Moscow and among his promises were two days off every month for females due to menstruation and confiscation of apartment buildings with tenants deemed too noisy. He also made clear that during the impending Armageddon, Mother Russia would reign victorious.
“I believe that we’ll defeat the Antichrist – I’m sure of it – and that Russia will lead the fight against the Antichrist.”