Putin Wants U.S. Dollar Banned From Russian Trade

Vladimir Putinklimkin / Pixabay

President Vladimir Putin has called for greater use of the ruble in Russian oil deals and criticized continued use of the U.S. dollar.

The Russian leader spoke out on Tuesday and proposed the move which appears to be aimed at strengthening the severely weakened Russian currency while also reducing the country’s dependence on the dollar, according to RT.

Putin tries to end reliance on dollar in trade deals

Due to tumbling world oil prices the ruble has lost almost half of its value against the dollar in the past 12 months. Oil is Russia’s main export, but the country has also suffered due to Western sanctions imposed after the Ukraine conflict and a sharp economic downturn at home.

The idea that oil deals should be paid for in rubles and other non-dollar currencies such as the Chinese yuan have been proposed by Russian officials in the past. The idea is to reduce Russia’s reliance on the Western financial system.

“I would like to mention one crucial issue in the development of the energy industry, and the economy as a whole. It is a question of finally stopping the use of foreign currency in internal trade,” said Putin at the fuel and energy presidential commission on Tuesday.

Government ministers ignoring dollar deals in internal trade

On Tuesday Putin had some harsh criticism for government officials he accused of willfully ignoring continued payments in dollars in the domestic oil trade.

“Mr. Siluanov (Russian Finance Minister), aren’t settlements in foreign currencies prohibited by [Russian] law? And what do we have in practice? Fees for shipment of oil products and crude oil in the Russian ports of Novorossiisk, Taman, Ust-Luga, Kozmino, Primorsk and others – are either directly priced in US dollars, or denominated in US dollars on online trading systems, practically in real time,” asked the President.

“This is, of course, unacceptable. It directly contradicts current legislation. I don’t understand what the regulatory authorities are looking at,” Putin added.

Deals in place with trade partners for use of national currencies

Looking beyond internal trade, Putin stressed that international payments should also be made in currencies other than the U.S. dollar. “We need to seriously consider strengthening the role of the ruble in settlements; this also includes Russian fuel and energy products. We also need greater use of national currencies in transactions with the countries which are our active trading partners,” the President said.

Russia, Belarus, Armenia and Kazakhstan, all of which are members of the Eurasian Economic Union (EEU), have already committed to switching to their national currencies. Officials in Iran have also stated that they will use national currencies in transactions with Russia.

Moscow has also written to Vietnam, Indonesia, Turkey and Egypt to propose similar systems. At the same time Russia has banned imports of food products from Europe, the US, Canada and Australia in retaliation for Western sanctions.

Foreign companies have been forced to withdraw from Russia due to the sanctions, which have also prevented Russian firms from accessing international capital. A combination of factors mean that Russia has been suffering a severe economic contraction that has seen millions of ordinary Russians fall back into poverty.

Russia left scrambling after sharp economic downturn

The so-called economic war rumbles on but it seems as though Russian initiatives will be quite difficult to implement. The government could certainly insist that domestic oil trades be carried out in rubles, but ensuring that international trade deals do not use the greenback will be far more difficult and could discourage other nations from trading with Russia.

Shut out of Western markets, Moscow has attempted something of a pivot to the east by engaging in closer relationships with China. So far efforts to drive the use of the ruble and the yuan in bilateral trade have borne little fruit.

Another potential area for regional growth is the Shanghai Cooperation Organization, a regional grouping dominated by China and Russia which aims to drive economic growth in Asia. Unfortunately for Putin and Russia things are not progressing as quickly as they would like.

Although Russia is suffering, it does not seem to have affected President Putin’s popularity at home. According to polls the Russian strongman regularly enjoys approval ratings of over 80%, perhaps because of a sophisticated propaganda campaign that has effectively painted him as the only option for Russia.

However ongoing economic difficulties may impact Russia’s ability to act in certain areas or project its military power far from home as it is currently doing in Syria. Putin appears to be acting on borrowed time and must surely be hoping for an improvement in the economic situation.

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About the Author

Brendan Byrne
While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. To contact Brendan or give him an exclusive, please contact him at theflask@gmail.com

379 Comments on "Putin Wants U.S. Dollar Banned From Russian Trade"

  1. Russia will emerge as strong economy , US wants to stop nesting in Russia as corporates moving towards Eurasia as there is no future in west , It good for Russia it got sanctions so that all countries which has relation will deal in local currencies , Usd will be value less and will be a burden to US, US is falling in deep hole no one will come for its rescue as it has more enemies than friends

  2. Why? He has never threatened the US, any NATO country or any EU country. The only thing he has threatened is the New World Order, which we define as “America gives the orders and the World takes them”. His refusal to bend a knee to us drives our politicians crazy but is not evil.
    He has never threatened or attacked any country with which we have treaty obligations or common border or shared history. The only time we come into conflict is when the US expands its borders up to the Russian border and tries to intimidate Putin, or when WE butt into an area like the Ukraine or Syria where we have no business being.
    So, what has he done to earn your hatred? or, even, what has he done that is any of your business?

  3. Eventually he will get killed.

  4. His popularity rate is bull crap propaganda. You know this and so does the rest of the world. He is no better then the leader of North Korea. If people didn’t vote for him they would end up missing or in a prison camp.

  5. Rodgerolson, no one in the US stands behind Obama either but we’re happy to see Putin get slaughtered.

  6. Those rigs have nothing to do with US production since they are just drilling rigs. They are not “fracking rigs” nor are they pumping rigs. Each one is responsible for many producing wells and can be idled or activated at any time.

    You have no clue what you are talking about.

  7. Whatever. Irrelevant to my reply.

  8. No, the real evil is the US government since it began

  9. Why? After WWII we made some promises. Maybe we need to try some new things. Putin is evil

  10. I checked their websites, didn’t find anything about economic growth in Russia, quite the opposite… :(

  11. But I wasn’t talking about Ukraine! Why are you trying to change the topic of the conversation???

  12. Please take your meds, psychologist, and go to hell along with your Russkie wife and Russia.

  13. Rather than guess wildly and wrongly, just google me. Unlike you, I post under my real identity and the odd spelling of my name makes me easy to find. Yep, I was a psychologist for years, and owner of one of the first computer games companies, pioneer of the computer adventure game, owner of one of the early dating services, Child abuse case worker, family counselor, property speculator, head of IT for Capital Records and Warner Music, middling successful writer and retired a couple of times. Been rich three times and broke three times, four if you figure I was born broke.
    Best of all, I have had a good time. Through it all I have kept my sense of humor and a clear head, unclouded by the unreasoning hatred that clouds your otherwise functional brain. I’ve always been able to see my side, the other side and the right side – and usually find humor in the gaps. It is unfortunate that your emotions shut down your reasoning powers so easily. I’ve never had that problem.
    Give my sympathy to the navigator. Every culture has its gold digging females. As Russian women are, on the average, so much better looking than American women their gold diggers are dangerous. Fortunately if you live in Russia you meet real Russian women and they are a delightful find. They nag too much, but only in private.
    If you want to know what Russians are like, I can email a copy of Rodgers Russia to you or leave a copy somewhere on the net where you can pick it up.

  14. You’re not a psychologist you’re most likely a patient of a psychology clinic. If you were happy in your family life you wouldn’t be spending 90% of your time writing Kremlin propaganda. No, I do not have to cook meals from scratch or iron shirts as I live in a modern world, my husband and I are well educated people and can afford way beyond scratch, sitting at home, ironing shirts and selling Kremlin propaganda to make a couple of US dollars….. we serve and work for a wonderful country called the USA. And about Russkie wives: we have a navigator that has a Russkie wife: it’s jewelry, cars, greed, laziness and zero US friends as Russkie values are not interesting in the US world.I feel bad for you, old man, as all you can afford is a Russkie wife and junk that she can cook from scratch,(no wonder you had a heart attack!)…enjoy eating your scratch.

  15. You just can’t stop the irrelevant babble. As a psychologist, I can tell you that is a sign of insecurity. Russian wife speaks English well, cuddles better, irons my shirts and cooks meals from scratch. Your husband should be so lucky as I am.
    Now stop writing silly notes and spend some time convincing your husband that you are almost as good as a Russian wife.

  16. Russia, Russia, Russia…..please, take you meds and ask you Russkie wife to learn English.

  17. Obviously no one would pay a confused person like you to write anything. Your mind seems to wander from irrelevancy to irrelevancy, but you avoid facts as if they were disease laden.
    Russia in trouble because of aggression? Russian defense budget $83 billion dollars. Russian federal debt, about zero dollars. American defense budget $671 billion dollars. USA federal debt $19 trillion and counting.. Russian federal reserves 09/01/2015 = $371 billion USA federal reserves = minus $19 trillion dollars. They seem to be having a lot less problem paying the bills than we do.
    However, I shouldn’t respond to any of your comments. It’s cruel to disturb that warm blanket of ignorance you wrap around yourself.

  18. Is there anybody you can talk to? Does your Russkie wife speak English? I know how Russians live I visited this filthy hole several years ago. A couple of heart attacks, business in Russia…..? now I understand why your brain isn’t functioning right and you sound just like Russians. Can you explain why kids of Lavrov, your favorite person Putin and other Kremlin cooksuckers do not want to live in Russia?
    Putin is going to end up sinking his nation for the same reason the USSR
    sank – too much aggression, too much money spent on the military, not enough on the economy back home + surprise from the US – the low oil price. Russia’s future looks pretty grim…..and I believe it will soon collapse just like old Soviet Union did. don’t bother me anymore I am sick and tired of you I am busy being productive for the US I am not being paid to lie for the government.

  19. Putin has a doctorate in International Finance and over 30 years of government experience. He makes the team of Obama the Clueless and Kerry the clown look like special needs twins. Why do you think he keeps making them look so foolish.

  20. You watch too many old black and white movies about the Soviet Union. The famous spy agencies died decades ago. Most of the population doesn’t even remember the old communist days and no one worries about the government spying on them.
    Criticizing Putin could earn you a good beat down if you do it in the local bar, but it would be dispensed because people like Putin and don’t like to hear people bad mouth him.
    They also hate us and really hate terrorists, so the actions in Ukraine and the war in Syria are both enormously popular. I have family in Russia and they are so happy about Syria they almost giggle when they talk about it. What could be better than killing terrorists and making the US look like an moron at the same time?
    Putin has rarely imprisoned anyone and has probably never ordered a killing. Why should he? He is enormously popular. However, the actual power in the Kremlin depends upon a Byzantine web of personal relationships and personal loyalty. Putin is almost fanatically loyal to his friends and expects the same from them. Two of his friends have been financially ruined and sent to jail for a few years for the heinous crime of disloyalty. Russians understood and mostly agreed with the actions.

  21. No one, but they are far from worthless.

  22. The Ruble is worth about what the Russian government wants it to be. They prefer a rate of about 50 to the dollar and it is a little over 60 to one now. The 50 rate preserves enough foreign buying power to handle their needs and makes their industries very competitive. For instance, their aluminum industry has increased their earnings dramatically because they are now cheaper than their competitors.

  23. Bankruptcy? Russia immediately cut its spending when the oil prices dropped. Their budget is balanced at $50 a barrel for oil and they enough reserves to pay the bills for years. They are virtually debt free and have billions in the bank.

    On the other hand, we have $19 trillion in debt that we can never hope to pay and we are borrowing about 30 cents of every dollar we spend. A few weeks without being able to borrow money would destroy us. Just remember when the bills come due, that Russia had nothing to do with our problems.

  24. More emotional dribble drabble. As far as I know, I have never mentioned your husband but I am glad to hear that he is overseas carrying out American aggression and threats against Russia. At least he will be safe. As Russia has never threatened any of those regions and has no reason to do so, keeping them out should be as easy as keeping a catholic priest out of a synagogue.
    I do make money from my writing as I am an author, in America, but as far as I know there are no paid Russian trolls on Yahoo. Russia just doesn’t give a rats @ss what you think and wouldn’t pay a Kopeck to influence you. Sorry, but you’re just not important enough for them to worry about.
    Snowden didn’t say that Russia was worse than a jail cell, he said that he had to work too hard to make a living in Russia.
    It is obvious that you don’t read RT or Der Speigel or French 24 hour news or Euronews or anything else except American propaganda. Given your emotional makeup, that is probably a wise choice. Wrapping yourself in the warm blanket of ignorance is better than having doubts.
    You don’t seem to understand much about Russia. I assume you have never been there. I have. In fact I wrote a book about it “Rodger’s Russia.” Sells rather well on amazon.
    Good things about Russia: Socially about like the 50’s in America. Well defined roles for the genders. Men smoke, drink, cuss, spit, and droll over pictures of naked women. Women smoke a little less, cuss a lot less and sit around talking about how dumb the men act. Heavy belief in personal freedom and personal responsibility. Russian men don’t whine about having to support a family and Russian women don’t complain about cooking.
    Here in America, we have to watch every word we say for fear of upsetting the PC police. We’ve been muzzled so long that we have forgotten what freedom looks like. In Russia you can speak your mind without being sued or fired. Think women make lousy firefighters because they don’t have upper body strength, that blacks are not as bright as whites, that gays are disgusting? Feel free to speak up. No one is going to fire you or sue you. You might not have much to say about who the new governor is but you have far more personnel freedom than any American has had for generations. Don’t want to rent your house to a gay couple or a man from the Sudan, it’s your house. No one tells you what to do with it.
    Russians are also highly patriotic. They are proud of being Russian and proud of Russia. We used to have that patriotism here before Vietnam and millions of immigrants killed it. Sometimes I miss it.
    Russians are very savvy about what goes on in the world. The Russian news programs carry about the same international stories as CNN and cover America very well. They follow our election almost as much as we do. They also have free access over the internet to BBC, Yahoo News, German news, 24 hour French news – all in Russian. On the average, they are better informed than Americans.
    Bad Things about Russia: They are a lot poorer than we are. Their grandparents didn’t leave them the wealth our grandparents left us. Two world wars and 70 years of Socialism devastated the place and emptied all the piggy banks. They are moving up fast, but it will take more time.
    Corruption is everywhere. It has improved in the last 20 years, but it is still a major drag on the economy. Putin and Medvedev have busted their butts to stop it, but two men in a county of 145 million can’t do much. They are fighting one million civil servants, two hundred thousand crooked cops and a totally corrupt court system. They pass the laws and the laws just disappear.
    The infrastructure, including the medical facilities, are suffering from neglect and corruption. Moscow sent money to the small city I was living in for MRI machines, a doubling of doctor’s salaries, tripling police salaries so they wouldn’t need to take bribes and a lot of road repairs – and 90% of the money disappeared. Putin found out about it during his annual call in marathon and was enraged, but there still aren’t any MRI machines and the cops still have to take bribes to feed their families.
    Corruption is the main reason that economic growth has virtually stopped. No one wants to start a business in a country where an FSB man can walk into your office and give you the choice of either selling out to his friend or going to jail on trumped up charges.
    I used to live half the year in Russia and half in the States. It was a free and fun place to live, sorta like going to a primitive camp once a year. I returned to the States permanently because I have had a couple of heart attacks. No big deal in America but in Russia, despite being in fair sized city, I was 120 miles of rough road away from the nearest modern cardiac unit.
    I would tell you more, but I don’t want to mess up that comfortable blanket of ignorance you cover yourself with.

  25. RMB as world payments currency in value Dec. 2014
    USD 44.64%
    EUR 28.30%
    GBP 7.92%
    JPY 2.69%
    TOTAL 83.55%
    CNY 2.17%
    The changes are insignificant. Pretending that 2.17% is stronger than 83.55%, then you are dead brain sheep beyond repair.
    Half truth is always a lie.

  26. Do not call people that do not like KGB propagandists/professional liars, emotional. I am a grown person and I know exactly what’s going on. I already told you my husband is not a Russkie idiot, but is a colonel and air force pilot, and an American. Do you see the difference? I doubt you do because you’re blinded by ignorance. He spends a great amount of time in Germany, Poland, and The Netherlands due to Russian aggression. I know the truth in detail, I didn’t bother to read the “facts” taken from the propaganda channel Russia Today. Please use what little brain you have to understand one simple request: stop selling me Kremlin propaganda. Instead, go to Russia and enjoy their “less biased media”, filth, poverty, violence and where you can enjoy a ride to the death on one of Russia’s fine aircraft like the one that just fell apart in the sky due to terribly poor maintenance. This fine country where, starting in 1991, 200 journalists were killed for telling the real truth. This is what you call “free speech”? BTW, as far as I know, Snowden, after encountering this so called “Russian Democracy” would rather spend the rest of his life in jail in the U.S. since that U.S.. jail would be like heaven compared to free life in Russia.I know you receive money from every comment you write….did I help you to make some money? Please, buy some meds, old man…especially those that help you use your brain when it doesn’t respond due to your age or your so called “job”.

  27. Of course the decision was related to the counter sanctions that Russia put on EU products and the drop in the Ruble. It was, however, a move that Russia has talked about for years and this situation gave them the excuse and the public support to go forward. Now Buy Russian is a major movement and most Russians think it is a good idea.
    At one time, Russia produced virtually everything it needed internally. Then when they opened up to the west, the inefficient soviet era plants couldn’t match the quality and price of the European and Japanese products, and most went out of business.
    Everyone complained that people didn’t buy Russian products at the same time they were buying their own washing machine from Denmark or South Korea. Most people see this crisis as an opportunity to restore some Russian independence and pride. Aside from the agricultural production, which is booming, I have some doubts that it will go as well as they hope, but I wish them luck.

  28. You suggest that this is a project that Russia has come up with on its own. In fact, they have no choice. If they did, they would still be buying foreign goods.

  29. Good Lord, grow up. Your emotional vindictive gets tiresome. “Filthy hole called Russia”, “Thugs like you”, “Putler”. Your emotions run wild, but you mind is not in gear.
    Try a few facts once in a while. It won’t hurt much.
    Fact: Russia does not have thousands of paid trolls spreading propaganda on Yahoo. Like the US, it pays “media specialists” to post favorable stories in the media, but their budget is less than $500,000 per year and the Russian “media specialists” work mostly on Russian bulletin boards and social sites and occasionally in support of the right wing movements in Europe because Russia cares what Russians think, but you are never going to meet a Russian paid troll on Yahoo because Russia doesn’t give a rats @ss what YOU think. You are totally unimportant to them.
    You will, however, read the work of the thousands of paid US trolls. According to congressional hearings and the Snowden documents, the DOD and the NSA each have budgets of at least $5 million a year for “social media specialists”. We pay a lot more trolls than Russia does and ours post in the US. Snowden posted the manual for NSA trolls. Its a document on how to lie, evade, deny and harass anyone who posts comments or stories “not in the interest of the United States”. It is probable that most of the commentators who repeated scream “Troll” are paid by the NSA. The tactic of annoying everyone and posting repeated childish insults to distract people from topics not favorable to the US is clearly stated in the NSA manual.
    Fact: Putin is not a dictator any more than FDR was. He is a democratically elected leader and he has less authority than Obama has usurped in the US. The fact that he is good at his job and gets re-elected easily does NOT make him a dictator, just an immensely popular politician.
    Fact: That was us who bombed the hospital in Syria. Learn to read.
    Fact: The US has caused the deaths of 1.5 million people in the middle east, including the 4000 civilians we killed with drone strikes in Pakistan alone. When it comes to killing civilians, we are the Champs! Our biased media is trying hard to pretend that only Russia gets people killed, but the sensational video of the last few days does not change the real facts.
    Fact:The media in Russia is less biased than ours. The fact that they present the news from a Russian perspective does not make them any more biased than CNBC, CNN, or the infamous Fox News. They are allowed to tell their side of the story. Our biased media prints every lie coming out of NATO and Kiev as if it were gospel truth. For instance, our media hid for months that the militias supporting Ukraine were racist Nazi hate organizations. You just can’t stand to hear both sides of the story. Probably because of your emotionalism.
    Fact: In addition to several opposition newspapers, and one opposition TV network in Russia, the Russians have access to BBC, Yahoo, CNN, Der Speigel, France 24 hour news, Euronews and many other western news sources, all available in Russian on the internet. The days of the Soviet Union are over. Russians cannot be prevented from reading and watching western news sources. However, their intelligence prevents them from believing much of it.

    Oh, get off the childish “go to Russia” crud. Besides no one caring about your opinion on where they should live, those stupid comments are more appropriate for intellectually stunted 12 year olds.

  30. Old man, I asked you many times not to sell me Kremlin propaganda. Married and busy people like me have no time to post BS everyday like you do because it is not my job and I see your comments when I open an article that has words Syria and Ukraine (that is where dictators are killing civilians) and you attack every commentator who disagrees with what Putler is doing. As far as I know Putin just sent a lot of cruise missiles and killed a bunch of civilians including a hospital in Syria. This description you gave is perfect to describe Putler. You are true Russian propagandists! Putin silenced the free media in Russia. Russian media is nothing but a propaganda arm for him. But he has gone much further than that.
    Like the dictator that he is he wants to control the message on every medium
    that he can. He put thousands of paid trolls to work on the
    government budget who’s only aim is to spread propaganda for him in as many
    media comment areas as is possible. And you, old man is one of them. Please, if you are still in the US move to Russia, while smart Russian people are applying for receiving US permanent resident card to leave the country with no future (256 000 people + their family members=1 million in 2015)….thugs like you will be gladly accepted in the filthy hole called Russia.

  31. I didn’t answer the silly question because I don’t “support” anyone, and I recognize a “have you stopped beating your wife” question when I see it.
    You, on the other hand, support a president who causes tens of thousands of deaths, meddles into the business of every country on Earth and causes immense chaos. The president you blindly follow arms terrorists, overturns governments, sends cruise missiles against civilians and creates immense havoc every time he touches something, but who am I to criticize. Your problems are your own.
    Your babbling about dictators and sociopaths and murderers is just a weak attempt at distracting the discussion from your failed arguments, indefensible positions and obvious fantasies – and it doesn’t work on anyone but the intellectually limited such as yourself.

    Now take a pill and go to bed like a good little girl.

  32. You’re a mercenary for a global order. Get the hell out of our country, since your loyalty is with a king, instead of the Constitution of the US, as you fail to mention one word about it.

  33. No, you couldn’t notice as I am not a troll, but I am for the truth. (BTW, I see you spreading Kremlin’s propaganda regularly, yes, you are a troll.) I asked you a question about a month ago: how you can support a president that can easily murder people in cold blood…and you, old man, didn’t answer because to answer this question you will have to admit that you support a murderer and you love dictators and people who can easily take other humans life. You are either a completely stupid old man who is under his much younger Russkie wife’s heel or you are a sociopath just like Putler. Please, go to Russia soon they need more idi*ots.

  34. As usual, when you have nothing intelligent to say, you always fall back on screaming “TROLL!!!!”, as if anyone cared. I notice you do that a lot. You must be coming out on the short end of a lot of arguments.

  35. You have it backwards. In the US, any government official can steal anything they want – legally. The draconian drug laws let police departments, the Justice department and a raft of other agencies confiscate anything you own by simply declaring, without any proof or hearing, that they think it was purchased with illegal earnings. It’s very easy.
    The police in this area have stolen luxury cars, cash, yachts and a few luxurious estates that they now use for “training purposes”, all without a shred of proof and no necessity for a court hearing.
    The Russian government has no such powers.

  36. We can’t. We don’t control SWIFT and the consortium that owns it has refused to cut Russia out. Too many businesses in Europe would go bankrupt without Russian business and Europe would be a cold place with closed factories if they couldn’t pay for Russian gas.
    Wouldn’t do any good if we did cut them out of SWIFT. All it is is a sophisticated encrypted email system and Russia now has their own version. It handles transactions for the BRICS. A bank that wants to make payments or do business with Russia, if Russia is not on SWIFT, just has to install the program on the terminal over in the corner and keep on going. We also do NOT have the authority to tell the world’s banks who to do business with.
    You have to keep in mind that most of the world does not share our rabid paranoia about Russia. We bullied the EU into sanctioning Russia over the Ukraine, but there was a lot of resistance to even that much confrontation and the sanctions will only last as long as we keep up the bullying. The EU has been doing business with Russia for decades and sees them more as a market than a threat.
    We have shot our wad, done our damnedest, gone as far as we can, and we still can’t cause them significant hurt. The only problem they have is the cost of oil, and we don’t control that either.

  37. Can’t do it for two reasons. We don’t own the world and there are a lot of people, whom we do not control, who are happy to lend money to a company like Gazprom with a large guaranteed income. We also can’t cut them out of SWIFT or any other network because Europe won’t go along with it. They need to be able to buy and pay for Russian gas. There is a cold winter just around the corner.
    The second reason, is that the government doesn’t borrow money. Unlike us, they have a balanced budget and money in the bank. Our government would fold if we couldn’t borrow money every single day, but Russia is far more fiscally sound than we are. Not as rich, but not in debt.
    We can’t even cut them off from our markets because without their palladium and titanium, our jet engine production would drop in half and we couldn’t make enough catalytic converters for our new cars.
    Russia’s power comes from natural resources, not from their military. They only spend a tenth as much as we do on worthless military toys.
    Fact is, we can’t do a damned thing to hurt them.

  38. Absolutely. You are dead right. However, Russia (and Putin) have been saved from real pain from this for two reasons.
    The first is that the average Russian doesn’t buy much French wine or Danish Cheese. Russian women cook more from scratch and use mostly Russian ingredients. There are limits, as Russia does not produce enough milk or beef to meet its needs, but the country is self sufficient in most products.
    The second thing saving them from feeling pain is the current, and highly popular, SELF SUFFICIENCY movement. It has become a matter of pride to replace foreign made products with Russian ones and they are working hard at it. For instance, agricultural production is up 35% this year and will go up more when the new orchards and dairy herds start producing.

    Foreign car sales have tanked, but Lada has surged. Cheaper Russian
    water heaters, washing machines and vacuums have replaced Italian and German brands. In many areas, Russian manufactured products are still behind European products, but they are getting better and they are far cheaper and Patriotic to purchase.

    So, they can’t buy a new Mercedes, but most people couldn’t afford one anyway and the patriotic pride masks any inconvenience they encounter.

  39. This is true, but if you wish to buy something made in another country, it might be a problem. With a weak ruble, everything of value is more expensive for Russians.

  40. Actually, it is not. Cutting Russia off from all outside financial aid is the final step in the west’s sanction threat. It would quickly bankrupt Russia, and that is why it has not yet been done. No one want’s to destroy the Russian system. It is essentially powerless except for its military, and even that is wildly obsolete. Power flows from economics, not from a gun.

    You might also consider, Roger, that hundreds of thousands of Jews have been running to Israel with their money under the “right of return” policy Israel offers. That is why Israel continues to allow home building in the the West Bank areas and why the situation remains so unstable. Many things in this world are connected, and when threats of war and invasion begin, nothing remains stable for long.

  41. Do you believe that? Good grief.

  42. But not in Russia, because the Russian government can take anything it chooses without compensation. Here, it is not so easy. Hello, Roger.

  43. Obama is not Bush. His policy with other nations is one of diplomacy, not threats or war. That makes him weak in the minds of many, but in the end it is smart, because it allows us to crush our enemies economically – just as is now happening with Russia and before with Iran. Syria, Egypt, and Libya are falling apart because we did not use the force of massive intervention. Many refugees are an unintended consequence of this, but it is more a European problem than it is ours. After all, these places were once European colonies and they have the obligation. Nevertheless, it is such a massive problem, we must help as we can.

  44. The ruble economy is useless. Russia will implode without the capability to do business and trade with the outside. This is what getting cut off from the western transactional and banking system will do…

  45. Wrong. Your lovely Putin oficially declared using nuclear force first.

    Read it yourself: kremlin.ru/supplement/461

  46. Old KGB troll, are you still making your “30 rubbles”. If you knew what free speech were about you wouldn’t be supporting a dictator and sociopath Putler . Keep on watching Russia Today and rebroadcast what they say as you have no opinion of your own.

  47. Old man…..are you moving to Russia? Why do you still live in US? You watch Russia Today and have no opinion of your own. everything you just said came from Putler’s mouth (pure Russian propaganda). Russian president murdered 24 young men that were waiting for help in a sunk submarine Kursk and you,old man, is supporting him and everything that Russians do. You are doing Herman Goering’s job and I hope you burn in hell for this.

  48. Rubles are valuable when you live in a ruble economy, and the value is close to what the government economists find ideal. According to them, an exchange rate of 50 rubles to the dollar is ideal for Russia as it makes their products more competitive on the world market. At 62, the ruble is not far off the mark.

  49. Man, you just can’t get anything straight. The Russian policy on use of nuclear weapons is the same as ours, no first strike, only used to defend against an attack.
    In spite of the fact that NATO scans every word ever said by any Russian to find something they can pretend is a threat, Putin has never once, ever, threatened to use a nuke on anyone.

  50. That’s does not matter anymore. Putin going to start nuclear war and blow up a bomb above your head. Stay put.

  51. Sure…the BRICS are collapsing as well- watch the news lately?

  52. I know it has its own – but it’s not worth anything when it’s using rubles…

  53. Julia, since you seem to know nothing about being an American and as you seem to be uncomfortable with free speech, you might be more comfortable in a foreign country that censors people. China and Russia come to mind.

  54. The money is 65 to the dollar. Not as good as it used to be, but close to where the Russians want it. According to Russian economists a rate of 50 to the dollar would be ideal. It would make Russian businesses very competitive due to lower costs and give the citizens reasonable purchasing power for imported products.

  55. Not quite. Most of the external debt is owed by the energy companies. They are paid in petrodollars, not rubles and, according to Bloomberg, they will have no trouble paying their debts for years to come.

  56. To pay off dollar loans they have to buy dollars for rubles. This is huge amount of dollar debt from businesses in Russia.

  57. Yeap, as ONN said. For that matter, the World Monetary Fund expressed its highest appreciation for the measures taken by the Russian central bank, to prevent the meltdown of the Russian economy (I have read the report myself, on American media). The WMF did that because of the concerns that the crisis on a world (Russian) economy has ripple effects on the other economies of the same world. Therefore, ONN is right. They have exquisite economists.

  58. Henli, these are exactly my thoughts on the matter. And I find it a sinister danger to us all.
    I am surprised to see than yet another human on Earth values the use of one’s brains while ruling a country.

  59. Adam, can you please notice that your remark is just as unsupported? It simply says that “Russia is bad because it is bad, because I say it’s bad”. Even for the sake of a wildly theoretical neutrality in views, or for looking remotely factual, did you account for the possibility that their press really reflects the view of many Russians? Based on the result (popularity or unpopularity of many American political persons), you can say just the same: The American press is not free, because “look at the results: – that political person is liked”.
    Do you at least see the flaw in your logic?
    Your assessment is based on your view on the result, rather than the basis itself.

  60. When it was the currency used in over 70% of the world’s international transactions it was the only one with clout. Now it is down to 60% and headed for 50% or less. The problem is that when trillions of dollars become unneeded because deals are done in Yuan, the money comes home to roost. The dollar inflates and demand drops.

    We base our economy on our ability to borrow 35% of what the government spends and to print 5% as new money. If the currency inflates and becomes less desirable, our cost of borrowing goes way up and we crash, smash and die.

  61. If they not are going to pay, we will turn off the gas.

  62. The number of operating rigs is down from 1745 last year to 787 last week. Oil production did go up this year, and now that oil prices are lower than fracking production costs, oil production will go down.

  63. Your logic is flawed. Either they can pay the bills or they can’t. They pay the bills, so they have enough money. Case closed.
    The non-governmental economy is different. It grew dramatically for almost 15 years and then the FSB and their friends started stealing all the successful businesses and putting anyone who refused to sell in jail on trumped up charges. In those conditions, no one without firm political connections starts a business. Small and medium business growth ground to a halt about 5 years ago.
    People are mostly still happy. Most people don’t own businesses and salaries are still six times what they were when Putin took office. Even with the recent inflation, the people are far better off then they were 20 years ago.

  64. You obviously are not the brightest light in the sky, but you probably can figure out how to google me. Unlike you, I don’t hide who I am. I post under my real name and I’m easy to google. I’m not only American, I am better known than you and probably a lot more successful.
    Of course, I can understand how someone who has to post under a silly name and hide his identity would find that a strange concept. By the way, what is so bad about you that you have to hide who you are?

  65. William Matthew Kirby | Oct 29, 2015, 3:55 pm at 3:55 pm |

    You will be glad to know that all women will all be eligible combat beginning January 1st, 2016. Go to Facebook and enter “Islamic State” into search. Now let me think, why would Obama let ISIS keep their Facebook pages, websites, bank, and twitter accounts open all this time he was supposed to be fighting them? Obama kept their accounts open so they could continue recruiting in the US and Europe. How did the terrorists get their hands on advanced US weaponry like TOW missiles that are supposed to have end user receipts? ISIS have made attacks that require advanced satellite imagery. Where did they get the Intel? The pentagon had a detailed list of 60 ISIS terrorist camps for almost a year so why, by their own admission, did they not bomb a single one? You have no idea of what is going over there so next time you get the urge to judge someone you don’t know, you might want to take the time to what you are talking about before you do. Obama has treated the US Military like dirt since he took office. 85% of all Active Duty US Military have no confidence in Obama as their commander in chief. What a great time to start a major war, right? By the way Snowden is my hero because he had courage to speak out about unlawful government spying and corruption. I think you should enlist so you can go defend the child raping Islamic extremists in Syria that Obama has been supporting since 2009. By the way, thanks to Obama – China and Russia are now allies so you and the rest of his supporters should have plenty to keep you busy. Obama is systematically destroying the USA, and because of people like you he is getting away with it.

  66. My suggestion to you is that if you have such difficulty with the choices this country makes then you should leave it, go live in Russia where people believe the propaganda they’re fed. I’m certain you have no desire to go live in Russia because you truly know what life is like there and you want no part of it. If you do go, Snowden has room for you at his place. Have a nice life,good riddance.

  67. As far as I know ruble equals the
    price of toilet paper at present time…how a country whose currency is toilet
    paper can rule the world?

  68. EU is quickly realizing that they are also a big loser in this conflict. Them and the Ukrainians.

    Yes, Russians are hurt, but they are willing to bear the pain for Crimea. EU and Ukrainian only got the shaft.

  69. If you look at actual circumstances and decisions he took, most make a lot pragmatic sense.

    Only Merkel appears to be at that caliber in the Western world.

    US policies seems to mirror what you see in forum like this one. It is shocking to see that the intellectual level of the highest policy makers mirror the average intellect of forum posters in here. This is clearly a nation that does not take the brightest mind, but uses the average mind to make policies that effect the live of millions.

  70. A lot of countries are already selling treasuries. Eventually it’ll all be owned by pension, SS, and the Fed.

  71. Nobody in US knows anything either. Look at all these foreign policies failures.

  72. Who would want Russian currency? You invest in the ruble …. and it’s gone.

  73. another crackpot dictator mad with power, only with nukes. wants to isolate his country from the rest of the world and make it his personal fiefdom like Saddam Hussein. claims whatever to gain complete control -Hitler. will become increasingly difficult to remove from power, Venezuela, Cuba, 1930’s Germany’s iran, north Korea. shattered economies and still the same strongman. elections are fraudulent, opponents murdered or disappear. the west unable to chance a nuclear war or use of nukes resorts to isolating threat thru financial means- deny commerce.
    embarrassing Putin in a major military defeat on the world stage is promising, like the Argentinian defeat to Britain in 1980’s ushering in a new government.

    The Ukraine debacle is a start. unable to deal with the fallout from the loss as Ukraine has turned to the west Putin has involved himself in Syria, now to shame him with a defeat, coupled with a destroyed economy will start a backlash. all we in the west have to do is provide the support for his dimise.

  74. why are you still here ? haven’t left yet ?

  75. You have been spouting about your BRICS for over a year now Comdade Olson give it a break ! go home to rUSSIA …….

  76. Putin is a true disaster for Russia. He making everything to create oil and gas embargo for Russia.

  77. But they speak with forked tongue…..all of them and their sneaky culture.

  78. If you cannot honor your oath of loyalty and to follow the orders of the Commander in Chief, get the hell out of my Marine Corps.

  79. All close friends of Putin are dollar billionares. Now the friends started make some valuable gifts like companies shares to Putin’s close relatives. Putin’s son in love received 17% of SIBUR company for unknown credit from unknown bank. That’s mean for nothing.

  80. Putin used private jet to deliver his loved dog to him in Sochi. He used dozens palaces all over the Russia. en.wikipedia.org/wiki/Putin%27s_Palace

  81. William Matthew Kirby | Oct 29, 2015, 11:20 am at 11:20 am |

    I don’t blame Putin for not wanting the dollar. They just passed another spending bill to print and borrow another 2 trillion of them. Obama’s recovery and war on terror are nothing but lies. Never mind the trillions we have wasted on failed wars. Now Obama wants to send 3000 of soldiers and Marines to Syria. For what? To protect his Islamic terrorist buddies? It was Obama that pushed China and Russia together so if he thinks that he has the support of the American people to start WWIII, he is dead wrong! I am a former US Marine and I would not fight a wet paper bag for Obama after the way he has treated the US Military!

  82. If you think that a monetary system should be based on foreign reserves, then you don’t get the point of an independent monetary system. WHAT RESERVES DOES THE FEDERAL RESERVE HAVE? NONE, ZERO, ZYLCH, NADA, less than thin air. Got it???

    An independent monetary system must be based on the value circulated by the national trade.

  83. Nothing would make me more happy with less dollars in the system the value would rocket up. As China is an ally of Russia we should boycott Russian and Chinese goods.

  84. Nope. They cutting budget at very high range, they kill small business by high government fees and corruption cost. The inflation in the Russia in 2015 is 11%. They’re good only in propaganda. Real life is much different.

  85. The only problem is that Russia does not have a foreign reserve any longer to base their own monetary system. Even Russia Banks have been telling Putin for the last couple of years. You have to base you monetary system on something, Oil is good if the market is better than break even. The only problem Russia has been selling reserves far below even break even.

  86. Putin there is noting that would please the United States more. Another mistake for you and the deeper Russia slides into Bankruptcy. You are there now, you have used all your reserves, and then you seen out an invasion force costing a billion dollars a month. Just remember the United States has noting to do with Putin’s agenda.

  87. Speaking of lies: “All we know for certain is the the drop in oil prices has stopped and it has been slowly climbing for a couple of months.”

    Brent Crude: Last 3 months, down from over $55 bbl to $49 bbl

    “Saudi Arabia and Russia have already put half of the American fracking rigs out of business.” 2 lies in one.

    1. Saudi Arabia and Russia have done nothing. It is the market, not just two countries. Also, for your statement to be true both Saudi Arabia and Russia would have to make efforts to insure prices went lower. Both have stated they want higher prices.

    2. US oil production grew 1.8% from September 2014 to 2015, all of that is fracked oil. You statement about half the rigs being put out of business is laughable.

  88. Even if Putin’s orders would be obeyed, for every ruble in circulation there is a fee for the Federal Reserve. Russia should first set up its own monetary system.

    If someone projects world power on borrowed time, this is the US: perpetuually in bad need of a higher debt ceiling.

  89. Yep, I would guess that oil will stabilize at just below the cost of shale, perhaps $75. However the current Russian budget is paying all those bureaucrats and police and army and pensioners and is still close to balanced with oil under $50. At $70, Russia would be rolling in money.

  90. The Yuan has a long way to go before it can become a reserve currency. Assuming the Yuan becomes a reserve currency how does that make any difference to the dollar? You act as if the dollar is the only reserve currency.

  91. Bit coins?

  92. Adam, you wish that every american president were like Putin.
    Who controls the media in US?. Answer: big american corporations. For them, your opinion doesn’t matter. What matters is their pockets. They always make sure that the bad news, is not known, or at least,concealed in the narrative. They make you believe your opinion matters.

    RT America will give you the ‘bad’ news, or “the other side of the coin”.

  93. Yes it tells me that when a polling company calls a Russian at home and asks them do you like Putin, do you support Putin’s wars, do you support Putin killing and imprisoning his opposition that people are too frightened to say no. They don’t want to be next – so they say yes out of fear …. anything for a quiet life when confronted with Russian officialdom.

  94. Who are you to decide who Russian people want as their president? His popularity rate is higher than 80 %. Does it tell you anything?

  95. Are you that gullible to believe what USA local media tells. As an individual with a brain, you should understand that any/all announced decisions are very well pondered and analyzed by the teams of economists and advisers the presidents of all countries have. Russia is not an exception. You should not forget that 2008 crisis has not bring a significant harm to Russian economy because it was advised to develop a “Stabilization” fund to use in such type of cases long time before 2008. For some reason, USA’s “famous” economists have not brought this matter for Congress consideration. I think it was because of a luck of good education. You may blow your own horn as much as you want about a quality of American education but in reality I would not be that optimistic about it.

  96. Reality check Russia has no products exported throughout the world. America has many products sold throughout the world.oil is russias only export other than military equipment.we will always be a super power and Russia will always be a wannabe and nothing more. and will never be a respected nation.

  97. no its a fact.hes stolen millions from you suckers from the oil revenues. and its in a place where you suckers can`t get at it if hes over thrown

  98. that’s right dollar should be erased from planet earth

  99. I agree that it isnt the best written story, but, That sophisticated propaganda works for him because of the lack of free press in Russia. There isnt a voice in the media that paints him in a bad light. If America controlled its media like Russia does our president would have sky high approval numbers also.

  100. Mikhail Timenovich | Oct 29, 2015, 8:43 am at 8:43 am |

    Get the brain, because your brain never been used

  101. Nope. The shale revolution will not let oil prices go over 60-80. The Putin’s government has 2 million of bureaucrats, one million police, and one million of FSB/KGB, and 1.2 million army. All of them wants corruption money. Also, there 40 millions of pensioners. The Putinomics works only on oil prices over 100. The oil price going to rise sharply for short period of time and then fall to 20 with long long recovery.

  102. Don’t get out much do you? You might have noticed that all those protesters around the world are carrying signs that say “Down with USA”, not “down with Russia.”
    The world extends beyond Europe and Canada and in most of those places we are not the favorite neighbor.
    Our money and our military gets us a lot of boot licking lackeys but few friends. Not surprising, as we have attacked or invaded 14 countries in the last 20 years.
    Russia is smart enough to mostly mind it’s own business do it makes far fewer enemies than we do.

  103. “…the Russian strongman regularly enjoys approval ratings of over 80%, perhaps because of a sophisticated propaganda campaign that has effectively painted him as the only option for Russia”.

    What kind of journalism argument is “perhaps because of sophisticated propaganda”? Does the author know that he invokes no concrete argument? Does he include the possibility that Russians really like him?
    Does he understand that thus he claims that the same false popularity is possible in Western societies? After all, if “sophisticated propaganda” works for Putin, in theory it works for everyone else.

    “Putin appears to be acting on borrowed time…”. Appears to whom? The author brings nothing in support.

    With arguments like “perhaps because” and “appears to be”, low-level journalism can demonstrate anything. This author lacks principles.

  104. I think that you are right. Some oil price forecasters are saying that it will go back over $100 but I don’t see how that could happen unless the world economy booms.
    However, at $75 a barrel, Russia is super flush. Their federal budget is balanced at an oil price just under $50 and anything over that is gravy.

  105. And some days it has appreciated as much as 5%. So what? It will continue to track oil prices which are almost certain to recover in the next year.

  106. Probably next year, but anyone who says he knows when is a liar. All we know for certain is the the drop in oil prices has stopped and it has been slowly climbing for a couple of months. It’s probable that the price will continue to go up because the glut was caused by America’s new fracked oil, and Saudi Arabia and Russia have already put half of the American fracking rigs out of business. They need $78 a barrel to break even vs. Saudi at $15 and Russia at $20.
    As long as oil is below $78, the supply will continue to drop and there will be an upward pressure on prices.

  107. Yep, to a land you have never seen. The land of Truth and Reason. It’s a long way away from your land of unreasoning hatred and prejudice, so you have probably never visited it.

  108. Never say “just” when Europe has a choice of buying Russian energy or going cold this winter and shutting their plants down. The world has a lot of oil, temporarily, but Russia is the world’s largest supplier and has one of the lowest costs of production and delivery. They have already put half of the oil fracking rigs in America out of business. That’s why they have multi-year contracts with several counties that will keep their lights on for decades.

  109. Both sides. I am talking here about the US.

  110. No, moron, from the IMF and Bloomberg. Sure glad you are only a guest moron and not a permanent one.

  111. That was an amazingly irrelevant and stupid comment.

  112. No, Joe Dirt for Brains, but I do know the basic rules of wealth management, and so does Putin. Rich people do not keep loads of depreciating cash, they own assets.

  113. With the Ruble a totally worthless currency, no one in Russia will buy a car or any big ticket items with their Toilet Paper!

  114. You mean my ruble toilet paper is usable to buy something! HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

  115. With the Ruble being used as toilet paper in the rest of the world, how does this evil Dwarf think it could replace the Dollar???

  116. You know absolutely zero about America. Watching the Kadassians on TV doesn’t make you a knowledgeable.

    Does the US make mistakes, yes. But last time I look it has acted for the most part responsibly in its dealings with the world.

    If you cannot see this explain to me how an agrarian society like China make sits way into a business giant. I acknowledge their people hard work and work ethic. But that kind of transformation cannot happen without the US’s involvement and cooperation.

    Look at Europe. Once decimated by war. Who was there to assist and help rebuild? Russia? Ha! Read up on East Germany’s economy prior to unification. Go right down the list of former eastern bloc countries. Many of them just now getting on their feet after years of Russian “benevolence”.

    Its people like you, and the other Russian trolls that attempt to rewrite history that obscure the real agenda here.

    Look, I could care less if Russia wants to take her rightful place as a dominate player in world affairs. Just do the right thing – you can be great and elevate your neighbors. You would find the US people supporting you – not railing against you.

    You don’t need to undermine us to promote yourself.

  117. In the last 15 years America has killed 20Xs what Russia has – America could never deal with there Murdrous ways. And I was an eye-witness 45 years ago in SE Asia. Go back and tell your ” Handler” that this Nam Vet doesn’t buy your lies or fake Patriotism – Putin will do what he has to do in order to save his Country – America has sold out to corporations, lobbyists, bankers, media propaganda and its People like you pushing their agenda — probably because you are on their — Payouts !

  118. Who the hell would want worthless ruble.

  119. Pay your World War II war debt to the US. Then talk.

  120. The cold war was started by USSR expansionist and repressive regime PERIOD end of story

  121. Jupiter's Clock | Oct 29, 2015, 4:52 am at 4:52 am |

    What territories?

  122. Then why are you here trolling – you have all the respect you need. Just go about your lives and cut the shit.

  123. Yeah the former eastern block countries just love you. Client states? You mean the people you hold hostage in the Crimea?

    Russian allies – LMAO.

  124. The dollar s the monetary staple of America! How dare Putin try to ban it from Russia. Down with Russia!!!

  125. Your response shows how stupid and inept in creativity you are.
    Why did you copy my style if your brain in stable? Oh lest I forget, you are a representation of the lack of ideas all Russians have…

  126. These are fake Russians

  127. If Putin will Russia from using the US Dollar so one Ruble will a pound of dollars

  128. the US should stop acting as a master of the universe first

  129. I think you should wait for a very long time and you will never get what you wish for.

  130. How long do we have to keep up with Putin and his policies? How long before he is removed or his own people remove him? Heck I would remove him if given a chance.

  131. Perhaps they are not actors…

  132. Putin is such a retard. I really wished he would have just been assassinated already.

  133. A US dollar = 1 pound in weight of Rubble notes.

  134. Pootin discredits himself. All the time.

  135. Maybe they should act more friendly

  136. I’m communicating to a lot of my Russian friends. They are much worse now than 2 years ago…

  137. Another story to discredit Putin

  138. Sounds like sanctions has no relationship to Putin policies… Really…. How about to pay high enough price to create a little bit discouragement to occupy your neighbor territories…

  139. And why should the Russians continue using our currency when we keep labeling them our enemy?

  140. Tomasz Romanowski | Oct 29, 2015, 2:29 am at 2:29 am |

    Fair enough. Feel free to settle the accounts in rubles. Just remember, one dollar is a pound of rubles.

  141. Btw, if you want to see what real economic collapse looks like – check out Ukraine – nearly 50% plunge — a total basket case

  142. my numbers are within those bounds, aren’t they? they have an estimate — and the reality on the ground is reported by Russia’s economic development ministry and by Russia’s Central Bank — both indicating that the bottom of the downturn is behind and economy is back to growth. go on to their websites and read for yourself.

  143. it might be the wrong translation from Russian into English. Putin criticized continued use of any foreign currency including U.S. dollar.

  144. For he does not want America to go bankruptcy.

    .

  145. Thanks for the Russian propaganda and completely discrediting yourself, Russian paid troll. LOL

    http://www.worldbank.org/en/country/russia/publication/rer

  146. Russia GDP Outlook 201520162017Upper-bound scenario-3.2%1.3%1.7%Baseline scenario-3.8%-0.6%1.5%Lower-bound scenario-4.3%-2.8%0%

  147. http://www.worldbank.org/en/country/russia/overview

    Yes, it is a “good enough” source, but unfortunately (for you) their data contradicts your lies, Russian paid troll. Lol

  148. “Russia’s recession deepened in the first half of 2015 with a severe impact on households. The economy continues to adjust to the 2014 terms-of-trade shock amid a tense geopolitical context marked by ongoing international sanctions. Oil and gas prices remained low through the first half of 2015, further underscoring Russia’s vulnerability to volatile global commodity markets. The weakening of the ruble created a price advantage for some industries, boosting a narrow range of exports and encouraging investment in a certain sectors, but this was not sufficient to generate an overall increase in non-energy exports. Investment demand continued to contract for a third consecutive year. Economic policy uncertainty arising from an unpredictable geopolitical situation and the continuation of the sanctions regime caused private investment to decline rapidly as capital costs rose and consumer demand evaporated. The record drop in consumer demand was driven by a sharp contraction in real wages, which fell by an average of 8.5 percent in the first six months of 2015, ”

    http://www.worldbank.org/en/country/russia/overview

  149. “Last time I’ve checked it declined by 50% since 2008 market crash.”

    Can you back up your claim with any credible source?

  150. World Bank good enough source for you?

  151. “Shame on you trying to score political points on deaths of MH17 victims.”

    Speaking of MH17, what happened with the “secret Ukrainian witness”, shown on Russian state media who claimed that he can prove that the Ukrainians have shot down the plane? I guess the same thing as the one that happened to the fake photos showing Ukrainian jet firing a missile at a plane, shown on Russian state media…

    https://www.youtube.com/watch?v=6TmDNa8lTcI

  152. He’s right, and you obviously have nothing to offer other than an ad hominem fallacy…

  153. “The entire economy of the US depends upon our ability to borrow and print unlimited amounts of money.”

    “Unlimited”? Seriously? Have you ever studied introductory macroeconomics?

  154. “you can find the numbers on the economy – it’s back to growth already”

    Source?

  155. that’s just one of several reserve funds — total russian reserve are somewhere closer to 300 billion, that’s not including pension fund reserves.
    See, you’re well versed in this – you can find the numbers on the economy – it’s back to growth already – not as bad as they make it sound in the western media, is it

  156. “Yet another nail into dollar coffin. U.S. Dolar trade lost 10% in last 10 years, from 70% to 60%. Russia and China drives these numbers lower ever day.”

    Quick! Sell as many dollar bills as you have and buy rubles with them!

  157. It should be obvious, if do not let emotional loyalty to US blind you to the facts as to the Russian people’s point of view, to be behind Putin, the Russians seeing the use of the US dollar, or dependence upon the US dollar, as working against Russia, as being experienced by the sanctions, sanctions that involve the US dollar usage; and thus a NO brain conclusion for the Russian people to see that the US and the US dollar is working against Russia’s economy, not Putin’s policies, to then favor Putin and to seek to only use the ruble.

  158. How cute – a Russian paid troll supporting… another Russian paid troll! Lol

  159. Who’s “we”, Russian paid troll???

  160. “Finance Minister Anton Siluanov told the parliament on Tuesday that the Reserve Fund, which holds 4.7 trillion rubles ($74 billion), is likely to halve by the end of the year with oil prices as low as they are.

    “This means that 2016 could be the last year when we have these reserves to spend,” Siluanov said. “From then on, we will have no resources like this.”

  161. I googled it! There’s nothing supporting your lies!

  162. What “facts”? 5% growth of Ruble yesterday? This only happened in your imagination.

  163. “Day before it gained 5%. And?”

    It has “gained” 5% yesterday and lost over 50% of its value in the past year. This isn’t something you should be proud of…

    http://www.bloomberg.com/quote/USDRUB:CUR

  164. there are economic indicators and economic prognosis – both by the govts and private organizations. google it – I know it is shocking after reading US news media and their “complete collapse of russians economy” bs, but don’t be so surprised – they are paid to brainwash you

  165. Who pay? American PR company on Putin’s contract?

  166. When? It falling for 3 days in the row for 5.5%. Do you really can apprehend this reality?

  167. I’m not here to entertain you, fool. We’ve got Donald Trump for that. I state facts and circumstances from western sources only. You on the other hand, blurb your own misguided opinion and present wishful thinking for reality.

  168. “it is set to contract 3.6% for the entire year of 2015 and is back to growth in 4th quarter of this year already”

    Do you mind showing any evidence to support this statement? Your claim doesn’t even make sense. The first month of the 4th quarter hasn’t even ended! Where did you get the information confirming that???

  169. Another Russian paid troll trying to convince people that Russia is the best country in the world, that Putin is the best leader on the planet, and that black is white. In the meantime, the Russian finance minister complained that Russia is running out of its reserves. Surely, this must be just “propaganda”, coming from him… Lol

  170. Why Putin himself keep his own money in US banks in dollars, not in rubles in Russian banks?

  171. The oil was stable this year around $50 and starting to fall to 30-ish now. Let’s see how Ruble repeats all the oil price moves. Putin just repeats all of Iraq’s fate. Poor Putin. BTW, you’re very boring troll. You can’t say anything interesting. You just repeating after me.

  172. “They” don’t pay my salary.

  173. Some “Guests” need things repeated to them multiple time before they comprehend…

  174. Day before it gained 5%. And?

  175. That’s dumb comment by someone who knows next to nothing about Russia or world oil markets.

    By your definition Saudies or Norway would be even bigger gas stations.

  176. And best in 2015. What’s your point exactly?

  177. SHITT, like gangsta cool? ;)

  178. You obviously have absolutely no clue what you are talking about…

  179. So, they don’t indexed your salary. So pitty.

  180. The answer to your question is NO

  181. People like you would rather a lie than the truth, what @disqus_lnEzyBvKOT:disqus said is pure truth.

  182. They pay their contracts on time. Gazprom hasn’t lost a single case in European or Ameican court. I’d say they are solid.

  183. There are over 300 TV networks in Russia. State controls only 6 of them. Neither does Russian government controls Internet. Anyone who states that Putin controls all the media is plain not in touch with reality. The truth is, that Russians has access to much more balanced news sources than we do in USA.

  184. Anyone who doesn’t want to freeze to death next winter, i.e. most of everyone

  185. Under Putin the wealth of average Russian citizen increased 8 fold. GDP went from 32nd in the world to 6th. Russian Army is second to none on European continent once again. Russia well respected with 2/3 of the world. Russian fireign currency and gold reserves increased by 1,200%! Trillion dollar gas and oil contracts are coming online in 3-4 years. The list goes on and on… Tell us once again what Russian people don’t understand?

  186. Is that why 2/3 of the World are Russian allies or client states? Hmm… something doesn’t add up in your statements.

  187. And you know this how exactly? He called you personally and confessed? LMAO! Stupid moron you are

  188. Shame on you trying to score political points on deaths of MH17 victims. Typical American you are ;(

  189. That’s just plain stupid assumption :(

  190. Oil is only 18% if Russian exports and 30% of Russian $540 billion budget. “Our economy” (assuming you are talking about USA) is $18 trillion in debt and produce nothing, but financial skims and service industry. “Our” fracking industry has been destroyed by Saudies low oil prices.

    We will be long gone and Russia will still be there. Reality check my friend.

  191. Putin does not pay my salary, Alex. How about value of the dollar that U.S. State Department pays you? Last time I’ve checked it declined by 50% since 2008 market crash. Did they tell you that during the briefing at Langley? ;)

  192. Total Russian business debt is lowest among developed countries. Besides, it’s private affairs, how’s that relevant to Putin or Russia? If worse comes to worst, Russia will just bail out key players, just like US did in 2008-2009.

  193. Alex, Russia has multiple reserve funds totaling over $500 bil. Why don’t you educate yourself on topic before posting comment?

  194. CUBE IS FALLEN!

  195. The
    fact that you want to use guilt trip on someone for stating something you don’t like
    is vile. Just because you think you know the truth doesn’t mean you
    really do.

  196. March 6, 2015
    Dollar Imperialism, 2015 Edition
    by Michèle Brand – Rémy Herrera

  197. I wonder if they drained all the credit card accounts the rebels stole off the bodys of MH-17. That’s where they were traced to.

  198. Copy, paste.

  199. Got your interest? Must have some value?

  200. Facts according to Putin?

  201. Russia is just a gas station. The world has a glut of oil.

  202. If they hated 2015, wait until 2016. They are bleeding rubles in Syria. They have destroyed most of east Ukraine with their meddling in Ukraine affairs. Even Crimea is a drain on their economy. Reap what you sow Putin.

  203. We all know where your loyalties lie.

  204. If Putin choose to do something, it will be done. A lot of prominent economist have been suggesting Russia to weaken ruble a few years ago, b/c it makes domestically produced good more competitive against foreign competition. That’s what China has been doing for decades, keeping yuan artificial low, that’s the new found weapon for a lot of countries. In fact, that’s part of the reason 2% growth is the new economic reality for US.
    Also, media keeps telling us Russia is in the middle of the economic collapse — that’s hardly so: their economy grew all years since 2008, it is set to contract 3.6% for the entire year of 2015 and is back to growth in 4th quarter of this year already — that’s hardly a collapse, but of course it’s all about propaganda — propaganda wars are the funniest.

  205. Wow, what a come back troll. That all you got?

  206. March 6, 2015

    Dollar Imperialism, 2015 Edition
    by Michèle Brand – Rémy Herrera

  207. Putin can try anything he freaking wants with his people. Let them eat cockroaches or worms, who would really care! But step outside your domain US Dollar is your universal denomination. Who’d want a crushed Ruble or paper toilet Yuan.

  208. Steve J Dannunzio | Oct 28, 2015, 10:54 pm at 10:54 pm |

    And i want Russia banned from the 2016 summer games. Put pressure on Brazilian president. Ban Russia or the U.S will boycott the games. Pick n choice? Its Russia or America. Thats like a women tells you..Its ether me or the dog?

  209. It is also a well known fact that our own politicians are bought and paid for by special interest groups and foreign puppet govt contributions.

  210. The
    fact that you want to lash out at someone for stating something you don’t like
    is vile. Just because you think you know the truth doesn’t mean you
    really do.

  211. its a known fact putins money is hidden from you jerks.incase he has to make a quick get away.hes not going to keep his money in russia

  212. Right on.

    March 6, 2015
    Dollar Imperialism, 2015 Edition
    by Michèle Brand – Rémy Herrera

    “The dollar is our currency, but it’s your problem.” This is what US
    Treasury Secretary John Connally said to his counterparts in the Rome
    G-10 meeting in November, 1971, shortly after the Nixon administration
    ended the dollar’s convertibility into gold and shifted the
    international monetary system into a global floating exchange rate
    regime. The world has been suffering from this “problem” ever since the
    US obtained the “exorbitant privilege” of issuing the world’s reserve
    and trade currency under the Bretton Woods system after WWII.

    The Fed effectively acts as the world’s central bank, but sets
    monetary policy only in its own interest. Under the pressure and the
    orders of financial oligopolies, it fixes interest rates and prints
    money to suit itself, sending economies across the globe into tailspins.
    When the Fed wanted to halt the decade-long decline in the profit rate
    and to pull the US out of stagflation in the late 1970s, it raised its
    rates sharply – the Volcker shock of 1979-1981, when the federal funds
    effective rate jumped to more than 20% at the beginning of the 1980s –
    throwing many developing countries into freefall, default and debt
    servitude. As their debts were denominated in dollars and rates jumped,
    suddenly they were paying drastically heavier debt service burdens,
    which they could only cover by taking out more debt under the draconian
    conditions of the IMF. In 1997, the US interest rate hike of only a
    quarter of a point was one of the main reasons for the “Asian crisis,”
    as hot money fled South-East Asia. Today in 2015, the end of QE, a
    strengthening dollar and an anticipated rise in US interest rates could
    wreak havoc in developing economies. Since 2009, trillions of dollars
    hot off the printing press or borrowed at near zero rates have been
    flooding into the global South and East. But today’s monetary tightening
    is already leading to an exodus of hot money that is destabilizing
    these countries, with the effect of keeping the United States’ rivals in
    the “emerging” world down.

    Like the Volcker shock, these policies aren’t enacted with the
    express goal of kicking the global South in the stomach, but this
    outcome is a necessary and predictable result of the domination of the
    global financial order by a sole country whose interest is to keep its
    hegemonic status. Other measures are taken precisely toward this end.
    This latest round of financial warfare has to be seen in the context of
    financial imperialism in general. Countries struggling for sovereignty
    are also being hit by sanctions, speculative currency attacks, commodity
    price manipulation, biased evaluations from US ratings agencies,
    massive fines on some banks for what the US has deemed inappropriate
    practices, and the prohibition of certain banks from participating in
    the international banking system. All of these weapons – like their
    lethal counterparts – are used toward weakening rivals (whether US
    allies in the global North or competitors in the global South and East)
    and maintaining dollar hegemony.

    Not only does the dollar enable the US empire, but also protecting
    the dollar’s status is a major reason for US imperial wars. American
    financial and military strength is based upon the fact that the dollar
    is the world’s reserve and international trade currency, creating a
    global demand for dollars which allows the US to print as many
    greenbacks as it likes. It then pumps them into the overbloated finance
    capital system and uses them to fund its criminal wars. Global demand
    for dollars is so strong that the key to keeping the system from
    collapsing during the 2008 financial crisis was the US Fed agreement to
    allow the central banks of core countries and certain Southern countries
    to have “unlimited” access to dollars through its “swap lines.” The
    dollar is vastly overvalued in relation to the real US economy, which
    consumes much more than it produces and makes up the difference with
    debt. The combined deficits of the federal budget and the current
    account come to around one trillion dollars per year. No other country
    could live so much above its means with impunity. Without this
    international demand for dollars, the dollar would “correct,” and US
    hegemony would eventually, inevitably, come to an end.

    Therefore the US pressures and attacks countries that attempt to free
    themselves from the dollar’s yoke, not only because they’re guilty of
    lese majesty, but in order to force the world to maintain the status of
    the dollar and thus preserve US domination. Russia, whose president has
    been outspoken about the unfair dollar system, has been hit by
    sanctions, currency attacks, artificially low oil prices (recently
    manipulated by the US with the complicity of Saudi Arabia), ratings
    agency downgrades, color revolution destabilisation attempts, and
    military threats. The BRICS in general, especially since the crisis of
    2008, have been trying to break free from the dollar’s dominance. In
    return China has become the target of the US military “pivot” to Asia,
    has been subjected to political destabilization in Hong Kong and the
    Western provinces, and has suffered the US attempt to isolate it
    economically from its neighbors through the Trans-Pacific Partnership.

    In 2009, after the US exported its home-grown financial crisis
    throughout the globe, China and Russia proposed that the world wean
    itself from the dollar and replace it with a reserve currency that would
    not be controlled by a single country. They suggested that the IMF’s
    Special Drawing Rights (SDRs) be used as the neutral world currency. The
    proposal was immediately shot down by the US. SDRs are in fact a unique
    outgrowth of the currency crisis of the late 1960s and early 1970s. The
    IMF, pushed by the Europeans, responded to the crisis by creating a
    fiat currency in 1969 to be used as the world’s reserve currency, but
    the US didn’t like the idea that SDRs should replace the dollar in that
    role and torpedoed it, and soon thereafter ditched the gold standard.
    SDRs now make up a tiny fraction of world reserves. The US has also shot
    down any proposed changes to the SDR system since then, with its de
    facto veto in the IMF: such rules can be changed with an 85% majority,
    but the US has a quota of 17%, which makes it the only country with a
    veto. The IMF itself,
    despite its strong ties to the US Treasury, has expressed criticisms of
    the current dollar-based monetary system and has promoted the SDR or a
    new world reserve currency as an alternative.

    Although it has so far been unsuccessful, the idea of rebalancing the
    world monetary system is extremely threatening to the US, and goes a
    long way toward explaining recent US wars and warmongering, which may
    otherwise seem irrational. The line of NATO bases in Eastern Europe and
    the coup d’etat in Ukraine are attempts to split Europe from Russia,
    trying to keep a subordinated Europe in the US sphere, prevent a single
    Eurasian economic area, and isolate and destabilize Russia. The
    Transatlantic Trade and Investment Partnership has the same goal.
    Weakening Russia and China (and the BRICS in general) on a military,
    economic and political level, with a regime change in mind, is a
    fundamental part of the US strategy for maintaining dollar hegemony. The
    US therefore has surrounded them with bases and continues to try to
    destabilize them. The US presence in the Middle East serves not
    primarily to gain access to its oil and gas (the US has its own,
    especially since the fracking boom) or even to control access to them
    (the Chinese are already there), but first and foremost to protect the
    petrodollar, to ensure that the global fossil fuel markets continue to
    be denominated in dollars. Iran has been talking about wanting to
    de-dollarize its oil and gas trade for years – thus, it and the Shia
    crescent are in the US line of fire.

    So beyond this proposal, the BRICS have been stepping up their
    efforts toward de-dollarization. The BRICS New Development Bank,
    formally created in July 2014, is intended as an alternative to the IMF
    and World Bank. Theoretically it could issue a currency at some point in
    the future, a rival to the dollar which could have disastrous effects
    on the US economy. The Asian Infrastructure Investment Bank was
    established in Beijing in October 2014 with 21 members, in order to
    invest in infrastructure in Asia without recourse to the World Bank or
    the Asian Development Bank which is controlled by US and Japanese
    interests. The BRICS have been increasing their trade with each other in
    their own currencies, rather than dollars. The yuan is being promoted
    as a regional currency for reserves and trade in Asia, and the Eurasian
    Economic Union (Russia, Belarus, Kazakhstan, Armenia and soon
    Kyrgyzstan) has plans for the creation of a common currency within 3-5
    years, the altyn. Russia and China have signed massive energy deals and
    are cooperating militarily. They are also dumping US treasury bonds from
    their reserves, and buying massive amounts of gold. In November 2014,
    China announced a financial reform plan, including redeployment of its
    currency reserves: instead of recycling them into US Treasuries, they
    should go “to support the domestic economy and the development of an
    overseas market for Chinese high-end equipment and goods.” In February
    2015, Russia announced the creation of its alternative to the SWIFT
    system, in response to Western threats to disconnect it from SWIFT and
    to revelations that the NSA monitors SWIFT transactions. All these steps
    are being taken for the countries of the global South and East to be
    able say definitively to the US: “the dollar is your currency, and it’s
    your problem.”

    But for the moment, the dollar is still their problem too. The Fed’s
    policies are again creating a nasty mess for the developing world. For
    six years the Fed has flooded the world with dollars, giving $4.5
    trillion of free money to banks and investors via QE, and promising to
    keep interest rates low. Dollars have been flowing into emerging
    markets: corporations and governments in these countries have borrowed
    dollars at a low rate, and global speculators borrowing cheap dollars
    have staked them in developing countries where they return a much higher
    yield (for example in dollar carry trades). Incidentally, it’s
    astounding that so few of these new dollars have actually reached the US
    real economy, which is anemic, though they have certainly blown the US
    stock market into the stratosphere.

    According to the Bank of International Settlements
    in early December, at mid-2014 non-bank borrowers outside the US owed
    $9 trillion of dollar denominated debt, a 50% increase since 2008. Of
    this $9 trillion, $5.7 trillion is in emerging markets, mainly in the
    form of corporate bonds and international bank loans to companies. This
    includes $1.1 trillion of dollar debt
    in China, more than double its amount at the end of 2012. Most of
    emerging market dollar debt is corporate and not sovereign, but states’
    reserves could be tapped if major bailouts are needed.

    Investors and borrowers assumed that the Fed would maintain its easy
    money policy for a long time, allowing borrowers to roll over their
    bonds easily because borrowing in dollars has cost almost nothing. But
    the Fed started tapering out QE in early 2014, and ended it at the end
    of last October. Also last fall, it began talking seriously about
    raising rates sometime in 2015, after several years of heated
    discussions about whether to continue the zero interest rate policy. The
    end of easy money (and a perceived US recovery) means a rise in the
    dollar and a corresponding drop in many world currencies, which means
    higher debt service payments and probably fewer dollars available for
    the borrowers in emerging markets as they try to roll over their debts.
    As this instability sets in, increasingly risk-averse international
    investors and speculators are seeking dollars in order to cover their
    dollar bets in emerging markets (as they hedge, the dollar is seeing a
    short-covering rally), thus increasing dollar demand and sending it
    higher. On top of this, new euro and yen QE are further fuelling the
    strong dollar. A stronger dollar means that it’s becoming suddenly much
    more expensive for companies and governments in the global South to
    service their dollar debts. If international speculators start dumping
    emerging market corporate bonds, these companies would be forced to
    acquire dollars to pay off their debts, thus accelerating the dollar’s
    rise. If there is a wave of defaults, contagion could set in (since
    speculators are herd animals) and capital flight could take off. There
    is the risk for a sell-off in emerging market bonds, leading to
    conditions like in 1997. The multitrillion dollar carry trade may be on
    the verge of unwinding, meaning capital fleeing the periphery and
    rushing back to the US. Vast amounts of capital are already leaving some
    of these countries, and the secondary market for emerging bonds is
    beginning to dry up. A rise in US interest rates would only put oil on the fire.

    The World Bank warned in January against a “disorderly unwinding of financial vulnerabilities.” According to the Financial Times on February 6, there is a “swelling torrent of ‘hot money’ cascad[ing] out of China.” Guan Tao,
    a senior Chinese official, said that $20 billion left China in December
    alone and that China’s financial condition “looks more and more like
    the Asian financial crisis” of the 1990s, and that we can “sense the
    atmosphere of the Asian financial crisis is getting closer and closer to
    us.” The anticipated rise of US interest rates this year, even by a
    quarter point as the Fed is hinting at, would exacerbate this trend and
    hit the BRICS and other developing countries with an even more violent
    blow, making their debt servicing even more expensive.

    The dollar is rallying less because of any supposed US recovery than
    because of higher global demand for dollars due to investors’ risk
    aversion, in the wake of the Fed pulling the plug on QE.
    Parenthetically, the US economy is definitely not recovering. According
    to Jim Clifton, chairman of Gallup, for the first time in 35 years, more
    businesses are closing than starting up. He also reports that the
    official unemployment rate of 5.6% is “misleading,” and that only 44% of
    working-age Americans have a job at least 30 hours per week for an
    organization that provides a steady paycheck. Shadowstats puts real US
    unemployment at 23.2%. A survey done for the Fed says that 48% of
    Americans don’t have savings enough to cover an emergency $400 expense.
    The Pew Research Center reports that Americans are 40% poorer than in
    2007. And, completely unrelated, the dollar is indeed rallying: talk
    among US conservatives about a dollar crash and hyperinflation because
    of QE, and their comparisons with Weimar Germany, are entirely off: they
    haven’t understood that Weimar Germany was not the hegemonic power
    controlling world monetary policy. It’s not the quantity of dollars in
    circulation but its demand that establishes its “value.” This demand is
    still extremely strong, related to the fact that the dollar’s status as
    international currency is based on the only remaining way in which the
    US is superior to other countries, that is, its military hegemony –
    despite the weakness of its economy and monetary policy.

    While a stronger dollar will not hurt the consumption-based US
    economy, the rising dollar and US monetary tightening are about to give
    the developing world a severe blow. Ambrose Evans Pritchard of the Telegraph wrote on December 17:

    “The stronger the US boom, the worse it will be for those
    countries on the wrong side of the dollar. […] The US Federal Reserve
    has pulled the trigger. Emerging markets must now brace for their ordeal
    by fire. They have collectively borrowed $5.7 trillion, a currency they
    cannot print and do not control. This hard-currency debt has tripled in
    a decade, split between $3.1 trillion in bank loans and $2.6 trillion
    in bonds. It is comparable in scale and ratio-terms to any of the
    biggest cross-border lending sprees of the past two centuries. Much of
    the debt was taken out at real interest rates of 1pc on the implicit
    assumption that the Fed would continue to flood the world with liquidity
    for years to come. The borrowers are ‘short dollars’, in trading
    parlance. They now face the margin call from Hell…. Stephen Jen, from
    SLJ Macro Partners said that ‘Emerging market currencies could melt
    down. There have been way too many cumulative capital flows into these
    markets in the past decade. Nothing they can do will stop potential
    outflows, as long as the US economy recovers. Will this trend lead to a
    1997-1998-like crisis? I am starting to think that this is extremely
    probable for 2015.’”

    This is exactly in the interests of US financial imperialism: to
    economically undermine any rivals that question dollar hegemony. It is
    absolutely unacceptable that one country should arrogate to itself the
    right to set a wildly loose money policy for years and then tighten it
    at whim, giving the rest of the world a violent thrashing. It is
    unacceptable that any one country control the world’s reserve currency.
    As the above quote says, because of the circumstances created by QE and
    the zero interest rate policy, today if the US economy does well, the
    global South suffers. It’s a zero-sum equation. This is throwing burning
    obstacles in front of their process of de-dollarization, and making
    them suffer. On purpose? Again, it would be difficult to impute too much
    individual agency behind these effects, but they are predictable,
    necessary and not unprecedented consequences of the imperial monetary
    policy waged by the US for years. The question of agency in this case is
    moot: these policies serve the empire. They go along with and have
    similar effects to the more obvious forms of financial imperialism such
    as sanctions. The US should be held accountable for the disasters it
    sows, and the world should remove its imperial privileges, through the
    creation of a neutral world reserve currency.

    The dollar index has gained around 18% since last July, when it
    started taking off and emerging currencies began to tumble. The Russian
    ruble, despite the sanctions enacted in the spring last year, didn’t
    start plunging until July. The other BRICS currencies (apart from the
    floating-pegged yuan) as well as developing countries’ currencies from
    Indonesia to Mexico to Algeria, also started dropping last summer, and
    began their freefall in November, just after the end of QE at the end of
    October. After years of US pressure to revalue the yuan higher, China
    may be forced to devalue it, which would spur further capital flight.
    The IMF and BIS have warned about the risk of massive defaults in
    emerging markets. This currency instability and capital flight comes on
    top of falling commodity prices and the threat of a US rate hike.
    Investors may be hoping to transfer the carry trade to euros, given the
    new euro QE, but the ECB can’t supply dollars, which are what’s in
    demand – in fact, euro QE will only strengthen the dollar more.

    The Financial Times wrote on February 22:

    “History suggests that severe accidents are more likely
    when the Fed is tightening, and the dollar is rising. […] Whether it
    likes it or not, the Fed is the world’s central banker, more than ever
    before. The dollar has become the unit of account in a foreign credit
    market that is half as large as US GDP. All of the major emerging
    markets are deeply embroiled, including China, Brazil and India. The
    market is plenty big enough to cause trouble in the US economy itself,
    should an accident occur. An accident certainly cannot be ruled out. […]
    Even in retrospect, it is not easy to identify viable policy options
    for the emerging markets (EM), other than extremely cumbersome capital
    controls, that could have insulated the emerging economies from the
    Fed’s unconventional easing. […] Portfolio managers in the global bond
    market may dump EM debt very quickly as interest rates begin to rise,
    forcing some EM corporates to buy dollars to redeem maturing debt. This
    could push the dollar higher, tightening monetary conditions even more.
    And this would reduce capital investment in the EMs, raising the risk of
    recession and inducing bond managers to dump more EM credit into the
    market. The BIS is worried that the results could resemble the collapse
    of a traditional leverage bubble in the banking sector, even though the
    institutional components would be very different.”

    This situation creates obvious risks even for the core economies,
    which are not exactly stable. A strong dollar will hit US multinationals
    hard, which do much of their business abroad, and they may not tolerate
    it for long. Although all the US needs to do to make its BRICS rivals
    go into convulsions is to turn off the QE spigots (after flooding the
    world with dollars) and raise interest rates, a seemingly cheap
    solution, it may not end up being free of cost to the US in the end.
    According to Bloomberg on February 13,
    “the Fed’s Open Market Committee in January added ‘international
    developments’ to a list of issues it takes into account to set policy,
    alongside domestic concerns such as inflation and the labor market.
    While the global environment is unlikely to stop the Fed from raising
    rates initially, the level of market turmoil may influence the pace and
    magnitude of subsequent moves, said Edwin Truman, a former head of the
    Fed’s international-finance division.” This sudden attention to the
    “rest of the world” should not be misinterpreted as real consideration
    or sympathy for its plight – as witnessed in the quote that it won’t
    stop the Fed from raising rates. Rather, it probably signals fear of
    blowback. The predictable crisis sparked by the Fed’s moves could have
    nasty repercussions on the US economy itself, if it precipitates a
    liquidity shock and global economic crisis. The world is much more
    interdependent and globalized than in 1979 or 1997, the economies of the
    “periphery” are now half the world economy, and the US economy is
    weakened and in uncharted territory, printing trillions of new dollars
    and still attempting to force the world to continue to submit to its
    domination. It’s possible that we’ve entered an age when the US simply
    can’t continue to export its crises with impunity.

    With $5.7 trillion of dollar denominated debt, the BRICS still have a
    ways to go before liberating themselves fully from the dollar. If they
    enter into a full-fledged economic crisis (and Russia is already there),
    they could be forced to act more quickly toward creating a
    de-dollarized alternative financial sphere, in order to survive. This
    bipolar world, which seems likely, could at least offer some respite to
    those economies; however, if the world split into two rival spheres, it
    could lead to a new cold war – and possibly the risk of a new world war.
    A much preferable solution would certainly be the creation of a new
    global reserve currency – which would not replace national currencies
    but only take over the dollar’s unfair hegemonic role – managed by an
    international institution, whether a reformed IMF (if that’s possible)
    or another one which would be more “neutral” than such institutions are
    currently.

    Liberating the world from the burden of the dollar, and from the hot
    and cold wars waged in its interest, will of course not relieve us from
    the world’s true, insidious disease: capitalism. But it would allow some
    breathing room necessary for alternative experiences working toward the
    socialization of the economy, toward socialism, to survive and
    hopefully thrive.

  213. you haven`t a clue what you are talking about. as usual dumbass Russians talking about things they are to brain dead to comprehend. nothing putin can ever do that will even effect our economy.we are to strong of a nation for that.unlike your economy only depending on oil sales how pathetic

  214. its funny seeing these Russian troll flunkys that can`t get a real job online talking about something they know nothing about. just making stuff up as they go along. enjoy your pathetic life

  215. Putin is not Qaddafi and Russia is not Libya!!!

  216. Right on.
    March 6, 2015

    Dollar Imperialism, 2015 Edition
    by Michèle Brand – Rémy Herrera

  217. Lmao..

  218. Does Putin indexed your salary or he paid you in US Dollars?

  219. Russian government bought $100B of US debt last August for unknown reason. Why?

  220. When will that be because I don’t see it happening very soon

  221. The US dollar is only good enough get your home fires going, apart from that its just counterfeit.same as the US.

  222. Today the Ruble lost 2.9% from 63.5004 to 65.3159 in single day.

  223. ………this is OLD news! This article came out last YEAR!!!

  224. This was the worst currency of last year.

  225. You are living in the same parallel reality as your boss. This information is freely available and well known.

  226. Russian government has no debt. The Russian businesses do.

  227. When prices go back up. But they will never stay over 75 a barrel, otherwise, shale is back in the picture.

  228. TASS:

    MOSCOW, October 27. /TASS/. Next year could become the last for the Reserve Fund, Russia’s Finance Minister Anton Siluanov said Tuesday. The minister noted that Russia’s Reserve Fund will no longer be the main source to finance budget deficit from 2017… tass[dot]ru/en/economy/831989

  229. Um…RodgerDodger? Russia is way, Way, WAY more hated than the US is!!

  230. Looks like you’re lunatik too as your boss. It’s growing only in Putin’s parallel reality. In this reality Russian FM said yesterday, the situation is very very bad. http://tass.ru/ekonomika/2381242 You don’t need tranlation, right?

  231. They teach you how to write but not how to read? Russian currency reserves GREW by $20 billions last month alone.

    Besides, unlike USA, Russia has almost NO DEBT. What’s there to refinance, numb nuts?

  232. Weapons systems snd tech
    Oil trade outside of US dollar
    Biggest world bank
    Ally with 2/3 of the world.

    Not enough?

  233. There are close to $17 trillion in petro cash reserves between countries for oil trade. Once replaced by rubles and/or yuan, these trillions will come back to US collapsing our economy.

    Need I explain more?

  234. Russia IS running out of money…and can’t refinance their debt!! loll

  235. How is Russia “leaving the WEst in the dirt?”

  236. Dumb commment. The Ruble has depreciated 40% over 18 months and will go back up with oil prices.

  237. No, Rich people don’t’ keep money in the bank. That would be stupid. They own stocks, businesses and real estate. Any significant amount of cash is put to work rather than left in a bank to depreciate.

  238. By the way, Putin has a doctorate in International Finance. He is far better qualified to discuss economics than the failed community organizer who runs this country.

  239. What growth rate has to do with investments?

  240. Easy. Russia is the world’s biggest oil exporter and the world’s second largest exporter of grains. If they demand payment in non-dollar currencies, we lose control of the petrol-dollar. Even better, the US is despised around the world, so many other countries would be happy to jump on the bandwagon.
    When the rest of the BRICS and all of the countries we have offended, attacked, bombed, and threatened start dealing in Yuan and Euro and Rubles, our control of the world’s reserve currency dies.
    It just takes a good example from one big country and an understanding of how many people we have offended.

  241. Did Zurich bank send you personal disclosure about Putin’ billions? What a moronic statement you’ve just made ;)

  242. Russian currency reserves grew by $20 billion last month alone. I wish we all “run out of money” like that.

  243. Got anything of substance to say?

  244. No, clown boy. Rich people do not hold currency. He has his wealth in stocks, businesses and real estate.

  245. rotflmao

  246. Said…ME!

  247. So far it’s been embraced by them. Petro-rubble contracts are on the rise.

  248. Explain how Pooty “nudges” it down? (always funny when a Russian tries to discuss economics)

  249. Too late.Russia already has its own payment card systems and its’ own SWIFT system and they don’t need our money. There is very little we can do to hurt their economy.

  250. HAHAHAHA
    Brazil growth rate 2014: NEGATIVE 2.6%!!!
    Russia growth rate 2014: 0.6%
    India growth rate 2014: 7.4%
    China growth rate 2014: 7.4% (books cooked by Chinese govt)

  251. People with billions of dollars do not keep their wealth in currency. They own stocks, businesses, real estate and real assets.

  252. Is that why world wide US dollar trade went down by 10% in last 10 years? From 70% to 60%? So much for Wall Street…

  253. No, probably from Wall Street. Dumb accusations of being Russian do not change the facts.

  254. By itself, it does not look like a significant move. However, when you couple it with the fact that the Yuan will almost certainly be reserve currency in the near future, it looks dangerous for the dollar. The two together could cause people to move away from the dollar world wide.

    The entire economy of the US depends upon our ability to borrow and print unlimited amounts of money. If the status of the dollar drops, we will be in a world of hurt that will make the Great Depression look like a picnic in the park,

  255. Well, so far he took Russian GDP from 32nd in the world to 6th and average wealth of Russian citizens increased 8 fold. Quite a detour to bankruptcy, I must say.

  256. And yet…he has BILLIONS of dollars in Zurich! (kinda kills YER theory about his “modesty”)

  257. Putin billions reported by whom? Yep, the very same people who told you about Saddam’s WMDs.

  258. Hey Joe…are you posting from a cubicle in St. Petersberg or Moscow?

  259. He’s running out of money. You better find new job, Putin’s paid troll.

  260. Question: Aren’t all the stolen monies Pooty-Poot has squirreled away in Zurich denominated in…dollars ?($200 billion??)

  261. Lol…Ruble often loses 10% in one DAY!

  262. Russia had learned its lessons deeply but probably its god-send that they did not became too reliant on the US dollar trade during the few years of good times it had with the US. Otherwise the sanctions would have very serious impacts on its economy.

  263. Because ruble is SHITT

  264. They are already doing it. Wake up

  265. Said who? John Maccain?

  266. MH17 been shot down by Ukrainians. Rather obvious by now.

    World wide trade in U.S. Dollar slipped by 10% to 60% total in last 10 years. Putin nudges this ratio down. Once this hit 50% mark, U.S. Economy will collapse.

  267. He lives in reality, while you live in make believe world

  268. Collapse? LOL. Chinese and South Americans will be thrilled to step in and fill the void right away. West is already been left in dust by BRICS. We follow your advise and we slip to third world country status, while Russians will be rulling the world.

  269. Exactly. Why should they trade with dollars, when Americans don’t want to use ruble…

  270. For the last 12 years Putin lives in modest 3 bedroom apartment in Moscow and has only old car to his name. Rather crashes your statement about stollen billions…

  271. He knows exactly what he is talking about. World wide trade in U.S. Dollar declined from 70% to 60% in last 10 years. Once Putin pushes that ratio to 50% U.S. Economy will collapse. Putin knows exactly what he’s up to.

  272. Yet another nail into dollar coffin. U.S. Dolar trade lost 10% in last 10 years, from 70% to 60%. Russia and China drives these numbers lower ever day.

  273. Wonderful . why not shovel some rubble through the back of this stupid leader.. he has no idea what he is talking !!

  274. The countries that want to bann the US Dollar are the ones are evil . aka dictators .

  275. I was going to say the US Dollar should be the world currencey but that wouldnt be fair to the other nations . The US Dollar is a peace of US history and thats why we have the US presidents on US Money and must be preserved , The same goes for the money of other nations . , Putin just wants the Soviet Union ways back and thats not going to happen .

  276. Why is Russia cut off from international capital markets? What are these sanctions all about. If Brendan Byrne is a real journalist, maybe he can help put things in context for us. I suspect the omission of this background information is intentional, because “Valuewalk” is a lousy rag and Brendan is paid to create “correct” content for a lousy rag like “Valuewalk”.

  277. Russian trolls are so dumb.

    Guess what currency Putin has his billions and billions he stole from you fools? American dollars.

  278. Guess what currency Putin has all his savings in you clown? That is right, American dollars.

  279. Wow you are dumb. Russia dealing in rubles wont do anything to US currency.

    Russia shot down MH17 you evil piece of garbage

  280. How about cutting off all financial links for Russia including the credit card transaction system, all fund transfer and loans – we’ll see how long it will take the Russian economy until it will collapse…

  281. Putin living in parallel reality. Don’t be bothered.

  282. Piece of sh*t America is rich because the world buys oil in dollars, as they go bomb innocent nations. fuc*ing pieces of sh*t

  283. yes.. we should support mental health, so that people like Romeo G will be safely in facilities and not trolling the internet

  284. They may want it, but they wont do it. They are all still trading in USD. You’re just a neo con troll.

  285. Douglas Wallace | Oct 28, 2015, 7:26 pm at 7:26 pm |

    How else can Putin make his worthless ruble worth anything? He has no choice. China will not do this because we are the hand that feeds China. China isn’t dumb plus they are not hurting like Russia. Putin is going to realize slowly that this will not be backed by major players.

  286. I Love Pakistan | Oct 28, 2015, 7:04 pm at 7:04 pm |

    Excellent Idea .. it is about time

  287. Land of stupid and home of idiots-US, is falling down, falling down, falling down.

  288. Wish that you have at least 1/2 in your dumb, stupid and idiotic head, that Putin has in his behind.

  289. Support mental health, schmuck.

  290. Not only Putin wants this. China, Iran and few other counties want to get rid of $. This spells beginning of the end of the U.S. Thanks to Obama’s administration incompetence, stupidity, dumbness and idiocy This is ain’t a joke for the U.S.

  291. alano dalman talampas | Oct 28, 2015, 6:52 pm at 6:52 pm |

    Let Putin froth at the mouth. It won’t be long now when he talks himself into oblivion.

  292. Ralph Alexandre | Oct 28, 2015, 6:50 pm at 6:50 pm |

    this is just the beginning,putin is distroying russia and russian people don’t understand that,they still want him to keep up all his stupid shit.

  293. Here’s an idea… Putin, who is reportedly one of the richest men in the world, should take all his $Billions, convert them into rubles, and then store them in a vault for 10 or 15 years…. Hopefully, he will let us know how that works out for him… ;-)

  294. yep unless You have no choice but to pay in their national currencies.

  295. Mike You are wrong.
    Russia is number 2 immigration heaven just behind the US.
    Google it!

  296. yep, and US administration subsidizes pot and cocaine.
    otherwise why would americans use drugs 2x the rate russians do?

  297. I don’t think the US presidents were strategically creative. Franklin Roosevelt hesitated about entering WWII, until the last minute before that US was doing business with Japan and Germany.
    The cold war was really started by Churchill with the iron curtain speech and followed by Truman and the following administrations. Nixon played a balance of power game and opened to China. Now the US policies are contradictory with relations to the Middle East and China. The neocons are targeting Russia and China. Obama has to cater to that to some degree, while passing his Obama care.

  298. Putin is an idiot! He’s taking Russia into bankruptcy AGAIN out of his paranoia & stupidity!

  299. Yes, same thing said gaddafi !!!

  300. Tavarish – this is a difficult issue. Most American’s I think see the actions of our government serving the agenda of the elite few, and sure we (the regular people) feel slighted. It makes me sick for example to hear how big the bonuses are for Exxon executives, yet that company STILL gets government oil subsidies to this day.

    http://www.theguardian.com/environment/2015/may/12/us-taxpayers-subsidising-worlds-biggest-fossil-fuel-companies

    Or, hearing some fat cat say “Danger, danger, there’s too much oil. The price is dropping. I’m not making enough money!” – give me a break. In the backs of our minds however we are saying “Ooh, I want to be those guys”. This is the land that gave you the old TV show, “Lifestyles of the Rich and Famous”. Now everybody has a taste for what they can’t afford and/or sustain. Elites founded this country and an elite few control it still. It’s important to remember that DEMOCRACY does not necessarily equal CAPITALISM. A difficulty in these times is that the quality of the pool of people we have to choose from to represent us is very low. That is very harmful to a Democracy. There are no more statesmen /statespeople. No longer do people in government quote Aeschylus, but maybe spit out some Tupac instead. There are no real leaders, just lawyers to help defend our positions. Now we have business people trying to run the country – that will be just dandy.

    Think about the fact that we have no real American agenda that competes with making a buck. That’s not much of an ideal..

    What we all share though is the freedom to choose how to live your life. That entails a lot of responsibility, because we are free to make some pretty F’d up choices if we so decide. Choices are something we assume everyone has, but I think it would pay dividends (See, as an American I can only think in financial terms) to reflect on what kind of shxthole places other people live in, and in what kind of restrictive societies. Even in those places, you still have the folks on top, and those way, way down in the dirt.

    That’s the real American dream I suppose – to climb out of the dirt. Quite a few generations of Americans now probably don’t understand what that means, never having been in the dirt. Some who read this are saying right now, “Too many words! Can’t you just post this on instagram?”. I gotta get back to my game.

    You say you want a revolution? You got it. PLUS a

    dev·o·lu·tion

    dev??l(y)o?oSH(?)n/

    noun

    formal

    descent or degeneration to a lower or worse state.

  301. Apart from the “gaol” part, you are correct.

  302. Regardless of ideology, I bet the conservatives such as Tea party like Putin.
    Obama is bashed because he was black and it is true. Obama does not have his own backing teams like Bushes or Clintons. He had to cater to people the interest groups who gave him power. Considering that he did a good job to accommodate them and did not make any big mistakes but to sooth things out. Putin came from KGB, he had his own source of power and able direct things and had the personality to do so. He is a director while Obama is a manager.

  303. Truly, there is nothing as a WHITE MAN or BLACK MAN…
    The so-called WHITE MAN is actually Pink like the Pig, while the so-called BLACK MAN is Chocolate like Ebony

  304. ORIGINAL SONG:
    London Bridge is falling down, falling down, falling down
    London Bridge is falling down my fair lady…

    NEW HIT REMIX:
    Mother Russia falling down, falling down, falling down
    Mother Russia falling down my dear people…

  305. Obama is bad not because he is black or he is not smart, but because his foreign policy stinks. Actually it’s a continuation of G. Bush’s policy.

  306. Russian troll galore

  307. James Mackinlay | Oct 28, 2015, 5:14 pm at 5:14 pm |

    China and Russia are trying to get rid of the dollar as a world currency this is no secret this is just one step he is trying to take to insure that it happens. “However” wall street will destroy any of his efforts and there is a lot of different ways of doing it.

  308. yes and Obama took the behind immoral position.

  309. well there you have it your global economy, there is a reason nobody wants rubles not even the Russian people, there not worth anything but in Russia. we already had a global economy before the new world united communist nations started dismantling the U.S with there home boy Obama spawn of satan googleeegooop politics ,

  310. And I hope you were taught that Putin’s Russia was the winner of WW2. Russia marched its armies all the way to Berlin as well as fought and won the Japanese in 24 days while US was fighting the Japanese for 4 years.

    American military might is a delusion only.

  311. Dump the US Dollar now, fast as you can at all cost. What is the worst, your true freedom, not fake democracy. And the world will be a better , more fair place for all humanity due to the facts that now the American have to work hard like every one else and earn fairly based on its growth of productivity, not war criminality. Putin is a smart and fair leader who recognizes the US manipulation. Dump US Dollar, plus Bond (delayed rip off due to inflation trick).

  312. The dollar is the only reason that the US is “great” lol, take out the dollar and see how the US repays its 80 trillion in debt, with IOU’s?? oh wait those are dollars, and the gold at fort knox has been gone for at least thirty years now.

  313. YOU ARE CORRECT ABOUT OBAMA…. He is hated only cause he is black. And I can assure you that most Americans admire Putin for his intelligence and boldness.

  314. HUGE BINGO !!!!!

  315. BINGO !!!!!!!

  316. Wrong chica.. People like him cause he is a great man. Keep crying

  317. That’s why I tell everyone to watch only CNN- best media. hahaha

  318. Putin has learned how to defeat the Western Central bankers.Take the Moral high ground!

  319. In ordinary years, I’d laugh along with you, but we have hundreds of thousands of bigots here who hate President Obama simply because he is black. They cannot force themselves to admit that he has run the government very effectively even in the face of steadfast opposition from the Tea Pot congress. Most of these folks are a dumb as you are, but in the end the truth will out. Putin couldn’t get elected here for one very good reason. The Tea Pots hate communists even more than they hate blacks.

  320. irrelevant as your monkey ass?

  321. That is changing now idiot.

  322. Putin subsidizes Vodka for his Russian comrads..and thats no joke!

  323. Bear Fugger Jones | Oct 28, 2015, 4:41 pm at 4:41 pm |

    He will not influence any market with that trashcan drivel…who the hell wants to trade with the stinkin Ruble???

  324. Work, work, and work. :)

  325. Immigrants go to America because of the delusion that they’re going to get a better life. But do they??? Yes they get police watching over their movements day in day out. They get police shooting and killing them on the street and that is normal.

  326. Tara is CORRECT! Our government is using the American Tax Dollars to even fund terrorists . Are you kidding me?

  327. DON’T WORRY BERNIE…. Not everyone is as stupid as you and the US media to believe what you all say. Russia is strong and will only get stronger!!!!

  328. UNSCRIBE
    u n s u b s c r i b e

  329. Many Americans would vote Putin for president because he is smart and decisive than you know who.

  330. Putin can do business any way he chooses. The question is who else is going to do it his way? The Ruble is nothing but a piece of worthless paper, but there are some out there who might think this will all blow over and things will return to normal. The problem is, what is normal for a corrupt government? The Oligarchs are running to Switzerland and long ago converted their money to other currencies. Even worse, he is now trying to regain approval by going to war. That too, will soon blow over and he will be left alone with his black dog.

    It is said that he remains popular. Really? What are we, all nuts? He runs all the presses and all the polls. Of course it looks like he is loved. But down down in the corn rows, the drunks are keeping a good look out for the ghosts of the Kulaks.

  331. It is the World Series. Just because other countries do not have competitive teams does not mean that the winner of the World Series is not the best in the world :)
    Oh, I am glad you brought up murder. Russia seems to have a corner on the market on that. Killing high profile opposition leaders with poison or bullets, restricting freedoms, taking over news reporting, that is just a few of the issues there. If the US goes down, the world goes down. Like it or not.

  332. Some 17 trillion petrodollars are held by the countries throughout the world for the sole purpose of buying oil and gas. If the dollar monopoly is broken, those dollars will come home to the US, tanking the dollar… it fact, depending on the amount it may collapse altogether.

  333. Yup! The new international payment system is working great, as long as you are a third world country. Good luck with North Korea trading! Russia is trying to strike back at the West, unfortunately for Russia they are biting the hand that feeds them in so many ways. By aligning themselves with despots and dictators, they are doing themselves serious harm. No sympathy here.

  334. Proposing the use of the toxic ruble is very patriotic but as most patriotic ideas, it will be rejected by people who can count.

  335. Tristan Jason Ring | Oct 28, 2015, 4:13 pm at 4:13 pm |

    Great! Now the world can see just how reliable the Russian economy and the ruble, AREN’T!

  336. Hey Tara. Is your own country Russia? Or is ” there” people Russians? Please be more specific.

  337. Tristan Jason Ring | Oct 28, 2015, 4:13 pm at 4:13 pm |

    Haha, look at the Russian shill.

  338. Actually it was his daddies song, Hank Williams, Sr.

  339. NOT TRUE and you know it .. Adding currency is a far cry from DUMPING >>> GET REAL COMMRADE

  340. Your own country my ASSSSSSSS

  341. That nuke idea… it goes both ways. There is not a problem with a country that wants to trade in their own currency. Unfortunately, some country’s currencies require a wheelbarrow to cart enough of their currency to buy even a loaf of bread. Most nations/trade partners prefer to trade in a currency that does not sporadically fluctuate on a daily basis. They seek a strong currency that will not drastically devalue overnight. It also seems to me that the majority of the body bags coming back from Syria are shifting to Russian body bags – Not American. While you seem to have the lowest opinion of Americans – probably because you are Russian – most Americans do not harbor ill feelings toward Russians. However, while you contemplate your next hateful post about Americans, ask yourself this question: Why do most immigrants – legal and illegal – want to come to America, if Russia is so much better than America? Why not go to Russia instead?

  342. Build that wall | Oct 28, 2015, 3:51 pm at 3:51 pm |

    I can’t say that i blame him, US gets every country they can under there belt, and then controls it all within the UN, banking everything, they make other countries poor and dependent on them.and they do it with there peace treaties and sanctions. USA does not want to protect there people, we are no longer there people we are just tax dollars to them. I never thought i would see the day and never thought i would be against my own country, the truth will come to light , and those that think i am wrong will come to know the truth.

  343. Vick, I would love to be paid for supporting any war against subhuman monsters like Hitler and Putin. When I saw the pictures of the German and Japanese atrocities of World War II, I am proud to hate Hitler and his clones. When I see Putin, claiming to admire Stalin, returning to the Russian tradition of pillaging the Ukraine, and murdering other Slavic people, I am proud to be known as a person who hates Putin and what he does.
    If I was given the opportunity to protect the weak from this monster, I would choke the life out of Putin, just as Beria ended Stalin’s reign of terror in the Ukraine and else where.

  344. You can’t blame him for that. I would expect that both China and Russia will dump the dollar as a trade exchange medium in the near future. The IM is also studying whether to dump the dollar and create a new currency for world trade.

  345. Go Putin go. Break the neck of the evil empire (US). US dollar is doomed and Russia and China are working hard at it. China and Russia now have their own International Payment system already so whatever US does with SWIFT they are better prepared now.
    Trading in national currencies as promoted by Russia is not a myth. Some Russian trading partners are already in line with Russia’s initiative and more will be joining soon as they begin to see the benefit of it.

  346. It’s always the 3rd-world countries under communist rule that don’t like being kept in check. Imagine that.

  347. sometimes people make some senseless arguments, do most American citizen think of themselves covered with one million blankets to know what the world look like. Simple think American should realized that most of their people are completely dump with high percentage illiteracy. Look at what Americans call the national base ball as a world series. What does that mean, baseball is only played among the states in USA yet blindly they deceive their citizen as a world series. These is because both American politicians and the rich knows very well that what ever they say their citizen will accept and believe. Americans are being deceived for centuries people like John McCain who knows that if he is to be in an foreign country International he can’t compute because he is dump. But he can of course call himself to be an intellect in USA more importantly in Arizona State. People call names about Putin, but that is a great men until now they have agreat relationship with former president George W. Bush although he knows that George Bush messed up with Iraq and other nations yet he treat him with respect as a person. Unlike John McCain who enjoy human suffering he also is one of the greatest human being who is good in human slaughter.How can America look at every country as evil, you borrow money from China yet you want to abuse China on top of the help China is making your nation to survive. The greatest human abuse and suffering is in America and its counterpart Saudi Arabia not China, Russia even the so abuse African continent. I think the world need to something about American war monger and human rights abuse. Every day there is human cold blooded murder by either the American police or children children being killed at schools and Malls.

  348. Chuck Nolan–Now I’m sure you are a western propaganda paid troll and you’re doing it so obviously. So much hatred in you.

  349. Please don’t “nuke” us, we will send you 5 pairs of blue jeans .

  350. Then BRICS countries to create an alternative system, and many countries prefer it, so SWIFT will lose a huge market share.

  351. The problem with Ruble is obvious: populations of the post-Soviet countries have their bank accounts in Rubles frozen. Does somebody want the same? Go ahead!

  352. Chuck Nolan– Are you one of them western paid troll?

  353. Russia’s Liar in Chief Putin’s business acumen is not based on reality, but on an irrational continued provocation with everything American. This folly will further erode the already contracting Russian economy, and push the average Russian into a soviet era style of survival mode. Which basically means that the black market economy, once thriving under communism, will once again be the main life line for average Russians just trying to survive the economical debacle that their dictator for life has led them to.

  354. Half of the world is with Russia.

    Press TV has conducted an interview with Rodney Shakespeare,
    professor of binary economics in London, about the group of five major
    emerging national economies, known as the BRICS, launching the New
    Development Bank (NDB) in the Chinese city of Shanghai to counter
    Western-dominated financial organizations.
    The following is a rough transcription of the interview.
    Press TV: Of
    course when we look at BRICS and what they represent in terms of
    world’s population, it was necessary for this bank to form mainly
    because you have the corrupt World Bank which is Washington-based, that
    has come out looking so bad in terms of how it has represented different
    countries, especially the African continent?
    Shakespeare:
    This is a huge financial development but it also has massive
    implications for all Iranians who at this moment are very worried about
    the nuclear agreement. Firstly the bank, the bank stands on its own
    feet, it will be concerned with infrastructure but it is part of a
    bigger development which is going to parallel the Western financial
    system. You are only too aware that Iran is being subject to unfair
    financial sanctions and so Russians indeed, and that can happen because
    America and Zionism control the financial system but the BRICS bank is
    part of what is going to be a competing system.
    It won’t
    necessarily be run and administrated by states but it will be competing
    and the ability of the West to put on unfair sanctions, particularly
    financial ones, is going to be curtailed. And that is the point for all
    Iranians who are worried about the nuclear agreement.
    I tell you
    now the United States is going to break that agreement, it will break it
    in the next few weeks or when the Republicans get in or with Israel,
    there would be a false flag attack and it would be blamed on Iran. But
    the point is and the significance of the BRICS bank is that the world is
    moving on, the power is shifting away from America and that if America
    breaks the agreements as it will, the rest of the world will be carrying
    on and it will have a competing structure with which to organize itself
    and effectively to ignore America and turn it into what it truly has
    become – a pariah nation.
    So it is good news on the BRICS bank
    because it is part of a competing structure, it has implications and I
    say to all Iranians yes, the nuclear agreement is going to be broken but
    the world is moving on and the effects of sanctions in the future is
    going to be greatly lessened because of this competing structure.

  355. Putin, like Adolf Hitler, remains popular while his subhuman savages loot and pillage Russia and some of Russia’s weakest neighbors. Just as there is a God, who can assist with miracles, there is a Devil, an evil force, that assists subhumans like Putin and Hitler.
    Just as the German people are still paying for the results of Hitler’s actions, the poor Russian people will suffer greatly because of Putin.

  356. I just pray to the Lord that I can get my hands on some of those dollars he ban.

  357. Never ever underestimate the enemy. Russia is not that weak.

  358. Garry, did you get your check from Putin yet. It is people like you who empower subhuman savages like Putin by providing the same kind of lies we see on RT. The blood of Putin’s victims stains your evil soul.

  359. Locking Russia out of SWIFT would serve Russian interests. Russia ,China and several other countries are developing alternatives to western banking institutions and the use of the US dollar as the world reserve currency. That along with the need for EU use of Russian energy resources is most likely why a Russian ban has not occurred. Many companies and countries still want to sell and invest in Russia and locking Russia out in a time of economic trouble seems to hurt others more than it hurts the Russians. The IMF and World Bank are exactly the institutions that Russia and China are working to replace. A ban could cause short term harm to Russia but would only advance log term Russian gaols that would harm the US, Europe and Japan. As to the WTO it has the gaol of economic policy coordination and shutting out Russia would harm others to an unacceptable level. Economic war has many of the problems of any type of war. Yes you can hurt others but the cost is often not work the benefit.

  360. I wish Putin could do it, but he will not, since this would finish off Russia in like 6 months!

  361. you are an idiot and will remain so till u get nuked soon or later

  362. Yep, and I’ll bet they didn’t find his county’s 200+ billion he had in legal foreign banks. Then there was the gold and of course enough oil to run the country for 80 yrs. I like Hank Will. Jrs. song – If you mind your own business – you won’t be minding – Mine !

  363. Did you forget to take your morning pill?

  364. Oh how nice! Then Putin just needs to ban vodka and that’s gonna be the end of Russia!

  365. If Putin wants to deal in Rubles that is his choice and no one can stop him. There are many who will buy Russians in Rubles The USA can’t have it own way in Syria so once again the USA is trying to manipulate Russia and its economy. Why the Kenyan can’t see that Sanctions don’t work is beyond common sense.

  366. Maybe America should get all their Invading Armies out of the World first ! They seem to be the biggest F…ups these days !

  367. Oil prices was the reason for it all Comrade Putin had nothing to do with it. PS his bankrolling the military will bankrupt the country just like in Soviet times. Now he’s responsible for peoples wages cut in half inflation of over 16% and corruption as great as it was in the Soviet era? Sad state of affairs

  368. stupid and foolish media,,, Russia is better than you and so shall it remain… what is your problem if any country decides to trade with their own currency? the entire world knows who the usa are now, stop deceiving your self with this propaganda news.. usa gov controls media but always accuse other country. you police the enter world when people were blind Thank God for Russia and China who exposed your evil.. all you do was just for your selfish interest not for real democracy or ordinary people as you claim. please close all your bases around the world and go back home and take care of your people before all your soldiers be killed and brought back to you in body bags because business can never be as usual anymore

  369. I agee with Putin and those countries that want to use their own currency for their products. Why would a normal American citizen care? Only the Federal Reserve makes money on the Petro Dollar – Americans haven’t made a dime on the trillions made off the P D. In fact they probably lost a trillion by letting someone make their own money – and then — charged them for it !

  370. Most of International Transactions are finalized in USD or
    EUROS, other currencies are IRRELEVANT.

  371. I’m sure he also painted your house and mows your lawn twice a month. Or maybe, just maybe, a booming world wide economy and high oil prices did all the nice things, and sanctions brought on by Putin’s foolish decisions did all the crappy ones?

  372. Maybe the USA should lock Russia out of the SWIFT electronic fund transfer system? Also, get all Russian owned or based business out of the USA, no Gazprom, no Lukoil and other Russian companies. No rubles allowed in the USA. How about IMF, World Bank and WTO exclusion of Russia?

  373. Actually its because since he took over the country in the late 90’s he has doubled the average Russians income, bettered their way of life, brough pride back to them, restored the military, and tried to diversify their market away from solely selling oil, but as I can see from your comment you probably dont know about any of that and just about what the US media tells you, even though these facts I stated were reported in US media before the US and Russia had their falling out last year.

  374. Better watch out, thats why Gadaffi got axed, he was trying to sell his oil in gold.

  375. stupid usa and foolish media,,, Russia is better than u morons… the entire world know who you are now, stop this bitters because is no longer as usual. i just want that stupid country call usa to be wiped out of this world

  376. “Although Russia is suffering, it does not seem to have affected President Putin’s popularity at home. According to polls the Russian strongman regularly enjoys approval ratings of over 80%”……
    Why such a high percentage? Seems to me that people who disagree with Putin are arrested or just disappear. If I were as Russian and asked about I sure as heck would respond yes even though I might dislike him totally. Another consideration is what is the source of the polls? I have not seen on article that gives and Poll Agency name just “polls show” But then I maybe completely wrong. Perhaps the Russian people who are loosing jobs, closing shops and hungry like Putin shutting down their economy due to a tremendous ego and destroying thousands of pounds of food while the poor continue to be poor.

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