Russia Warns Could 'Reduce to Zero' Economic Dependency on U.S.
إقرأ هذا الخبر بالعربية
Russia could reduce to zero its economic dependency on the United States if Washington agreed sanctions against Moscow over Ukraine, a Kremlin aide said on Tuesday, warning that the American financial system faced a "crash" if this happened.
"We would find a way not just to reduce our dependency on the United States to zero but to emerge from those sanctions with great benefits for ourselves," said Kremlin economic aide Sergei Glazyev.
He told the RIA Novosti news agency Russia could stop using dollars for international transactions and create its own payment system using its "wonderful trade and economic relations with our partners in the East and South."
Russian firms and banks would also not return loans from American financial institutions, he said.
"An attempt to announce sanctions would end in a crash for the financial system of the United States, which would cause the end of the domination of the United States in the global financial system," he added.
He said that economic sanctions imposed by the European Union would be a "catastrophe" for Europe, saying that Russia could halt gas supplies "which would be beneficial for the Americans" and give the Russian economy a useful "impulse".
Glazyev has long been seen as among the most hawkish of the advisors to President Vladimir Putin but many observers have seen his hand in the apparent radicalization of policy on Ukraine since the overthrow of president Viktor Yanukovych.
Economists have long mocked his apocalyptic and confrontational vision of global economics but also expressed concern that he appears to have grown in authority in recent months.
A high ranking Kremlin source told RIA Novosti that Glazyev was speaking in the capacity of an "academic" and his personal opinion did not reflect the official Kremlin policy.
Glazyev described the new Ukrainian authorities as "illegitimate and Russophobic", saying some members of the government were on lists of "terrorist organizations, they are criminals".
"If the authorities remain criminal then I think the people of Ukraine will get rid of them soon," he added.
04 March 2014, 11:52
63
Do it !!! Enough with the dollar rip off system. Tired of paying for the Fed who just prints bills when they feel like it, and the whole world pays the price because they are indexed on USD
04 March 2014, 14:17
32
oh take a hike bozo, irrelevant as always, and obsessed with iran as if they molested you as a child.
04 March 2014, 12:48
43
The US has cut its own throat. The benefit of the dollar system was that the US would be the world's policeman backed by the world's largest productive economy while maintaining transparent and well run financial markets.
The US is now the world's arsonist, destabilizing vast areas of the world including South America, East Europe, Africa and the most egregious case MENA. cont.
04 March 2014, 12:49
43
cont ...
The US has allowed its financial markets to become totally corrupt to the benefit of oligarchs and banksters. The US has transferred much of its productive capacity abroad to Asia especially China.
The US has pursued a strategy of destabilization to implement western corporate hegemony over all countries. By destabilizing countries they can put in their own governments or threaten existing governments into dollar debt while buying private and public assets at pennies on the dollar.
Thanks to the internet this US game of Imperial Financialism is being exposed. No longer are countries or their populations ignorant of this neoliberal attack on their sovereignty. Though the Main Stream Media is still predominant their credibility has plummeted.
04 March 2014, 12:28
43
World War 3 :)
Bill printing Mowaten is not the problem. The problem is that these bills have no value at all other than what you "believe" they are worth. It's all artificial.
It's in fact the same monetary system all over the world including Russia, Lebanon, China, North Korea, Iran ...
Since the abolition of the gold standard, money is worth nothing more than what you trust it is worth. Any country can print money but printing too much will drive its value down.
Behind all these various political models and ideologies, it's all the same monetary system which controls the globe.
04 March 2014, 12:53
33
You ignore the importance of the lucrative position of being the "worlds reserve currency".
To be on the world market a country must have dollar reserves. Dollars printed by the privately owned and operated Federal Reserve.
Given that there always too few dollars to pay even the principal and interest on dollar debt and reserve needs the banksters profit handsomely.
04 March 2014, 13:27
31
That's no longer true. You can now be on global markets in euros. But this is irrelevant. It would also be the same if the currency were roubles.
The main problem is the monetary creation system. Money has no value beyond trust.
And as you say, dollars (or any other currency) are no longer tied to gold. Each dollar in existence is created through debt. And Debt comes with interest. So there is always more money "owed" than money in circulation. This creates a domino effect where wealth is always transferred from those who default on debt towards those who don't. Basically ripping off 90% of the world from their belongings.
Problem is the same in the US and Russia. Iran and Saudi.
The only way out is a global uprising to bring down this monetary system and replace it. This will never happen though without a major global catastrophe ! or World War 3
04 March 2014, 13:32
30
Also, note that this has nothing to do with the US. The US is just the playground/instrument of the international bankers, mainly european, that have established this system. (Rockefeller, Rothschild ...)
04 March 2014, 13:45
13
FlameCatcher ~ ""That's no longer true. You can now be on global markets in euros. But this is irrelevant. It would also be the same if the currency were roubles.""
I guess you haven't heard ... The currency markets are being manipulated ... Yes the largest market in the world is being "gamed" by the banksters ...
Mere point differentials in currency valuations mean billions of dollars or whatever currency you are talking about. As far as the the Euro it comprises less than 25% of world foreign reserves.
The dollar while losing ground still comprises more than 65% of all foreign reserves. The fact that the dollar is losing ground is what is precipitating this US interventionist militarism.
04 March 2014, 13:53
31
I'm not disagreeing with you Mckinl.
I'm just saying that replacing the dollar with any other currency will not solve the problem. Whatever the currency, we are reaching the limits of possible monetary creation. We need to create money to deal with debt. Comes a point where it will not longer be possible and all will come crumbling down.
Last time a crisis happened a couple of years ago, the US was forced to create $700B (x10 with a multipler effect). This only postponed the problem a couple of years. but then what ?
I fear that the only solution is to bring down this system all together and create a new one based on ressources. Money keep everything artificially scarce. But all this is utopic.
04 March 2014, 14:06
13
FlameCatcher ~ ""We need to create money to deal with debt.""
The way the current banking system works is that money is only created through debt. Indebtedness to banksters.
No country or economy just prints money ... they either create money through loans or governments borrow from themselves ...
04 March 2014, 14:11
31
That's what i said above : "dollars (or any other currency) are no longer tied to gold. Each dollar in existence is created through debt."
04 March 2014, 14:17
13
@ FlameCatcher
The only way to get rid of debt without severe inflation is debt nullification ... Printing money only leads to the corruption of the currency ...
This can be done through bankruptcy laws both sovereign and international. As it stands once a country "defaults" they are literally cut off from world markets.
When this happens the vultures move in and buy the valuable assets of the country for pennies on the dollar. This not only happens to third world countries but is happening in southern and eastern EU countries.
04 March 2014, 15:21
31
Debt nullification only postpones the problem. It does not solve it. It's hiding our head in the ground and hoping future generations will deal with it.
If money only exists through debt. Cancelling debt means, resetting the clock to 0 and starting all over again without solving the main flaw of monetary creation. New money will be created through debt and we spiral back into the same situation.
04 March 2014, 16:00
20
Nullifying current debts will not prevent future debts from happening.
Also, it will instantly kill the (perceived) value of money rendering it almost worthless.
Also, if you "pay back" all debt that exists in the world, there would no longer be any money in circulation.
Monetary creation is the main problem and any such solution is only postponing the collapse of the system. Not preventing it, not solving it.
Bitcoins for example is a new "experimental" alternative to the monetary creation problem and centralisation but it's far too prone to bugs / errors / theft / hacking and is too complex for the common people to comprehend.
04 March 2014, 15:55
21
Having gold reserves does not mean our Lebanese Lira is guaranteed or backed by solid Gold.
The US has gold reserves too and so does every single country. But currencies are no longer tied to gold.
Our gold reserves provides confidence in our currency but in no way constitutes a guarantee to the value of it. Otherwise, our dear LL would be pegged to the price of gold and guaranteed by it. This mention would also be printed on bills.
Otherwise, our currency would not have jumped from 2.5 LL to the dollar to 2500 LL to the dollar back down to 1500LL.
04 March 2014, 16:26
10
According to a Russian news story (conspiracy), Dominique Strauss Kahn when he was heading the world bank has discovered that the US no longer had any gold reserves and was preparing to make this public. This is why they slapped him with the sexual harrassment case.
Supposedly, the world bank was awaiting a transfer of several tons of gold from the US which never materialised. It would seem someone emptied the vaults.
