Topic: Russia, Belarus and Kazakhstan about to introduce new currency - Altyn (Read 1475 times)

http://www.ft.com/intl/cms/s/0/9f686816-ed51-11e3-abf3-00144feabdc0.html#axzz345cmYksw

this may speed up the collapse of the dollar. Seems like they are finally starting to wake up, why would you need dollars to trade between russia and japan?

Weird that other countries want to do it together with Russia.
DO they want the same fate as Ukraine?

Strange idea, and strange name to currency. The story with blocking master and visa cards should have result in smth like this.

Russia has increased their gold quite alot since 2008 and China is the worlds largest producer and importer.   Those two are massive supporters of the price and most likely in future too as they still lack reserves similar to fort knox.    Really they have zero interest in crypto and you all know this already, why would these political regimes give way to decentralisation.  Putin nor the Chinese have any interest in the concepts behind bitcoin, its heresy to even mention this.   I hope not but the opposite is far more likely



If you know stocks, think of the market cap not the price.  Tells you more, far from being lowly priced the dollar is gigantically over valued more then any other time in its history so you would be buying high .  Im told by those who were there to witness nixon and the immediate effects; this is the most highly priced indebted giant bubble in mankinds history, it dwarfs the stupidity of the Tulip bulb mania.
   We'll have to see in retrospect as its not apparent now, my personal take is China and friends can carry us all for a while yet, Viva el comunismo

It will work as a niche currency for energy trading. I think they are trying to prove that world does not need the US dollar for energy trading. As an American I hope they succeed. 

It'll probably collapse fast in all honest. New currencies in this day and age with so much debt won't work.

hopefully russia and their engineering/math strengh in their governemnt will abandon fiat and go all crypto for the new generation currency
replacing fiat with new fiat is rather pointless

You can do the buy low and sell high thing, if you are sure that the value of the USD is going to increase in the near future. But unfortunately, the value is likely to decline further in the coming years. So I wouldn't recommend this strategy.

Buy low and sell high?

Based on the graph, USD is quite low at this point.

You know... that is quite evident.

The cost of putting army in middle east and around the world will eventually outweigh the benefit of defending the dollar.

Russia and China are moving away from the US Dollar for most of their trade. It is only the EU, Japan and the middle eastern nations (such as Qatar and Saudi Arabia) who are still using the greenback.

This is small time stuff. Russia and the other countries just want to make some noise because anti-western behavior takes attention off of their shitty leadership.

For one, introduce new currency has shown to be a good storage of value, despite its volatility. Also, they will have an incentive to convince their suppliers to accept new currency.

The Euro has lost 80% of its' value since it was introduced.  How will Atlyn be any different?  It won't.

Atlyn if anything won't be accepted by Belarus, Kazakhstan or any country unless they're dumb.  Accepting the Atlyn is tantamount to giving up control over your currency.  The Greeks know that all too well, the Greeks (if they still had drachmas) would print themselves out of their current recession.

Dollars can collapse if they want it to.   I count the most likely avenue as self destruction by their own hand.   No doubt while they doing so they will be claiming their actions are the only route to save the worst from happening.

Its so likely to happen that way its almost a cliché.   If I had a better movie memory (book even) I would quote any number of themes where the protagonists destroy what they are attempting to save, its just what people do I guess.  
  Saudi Arabia has its own themes to contend with, they cant always guarantee to follow in the tracks of others; ironically they may become an energy importer at some point the reasoning being they have genuine population growth of quite a considerable rate.  

    There is a genuine theme here greater then theories or proposals, the world really is going to change from this western bias almost certainly.  The majority of the worlds population is below 30, this is absolutely not true in most western 'rich' countries so growth and various influences will alter from dollar vs oil as you say.   That is true now and a strong bias but not for always


Kazakhstan  is largely an 'empty' country.   It is the size of europe with the population of a few major UK cities.  Not sure about the other two but I dont hold much by this news.   Russia signed some trade with China recently, that about eclipses anything else.   Russia exports energy as might Kazakhstan and China is an importer and this deal wont use dollars; no new currency needed exactly

ha ha)

$ cannot collapse as well as Bitcoin can't. $ is a mean of accounting)

as long as one trades oil in $ everything will be ok $)

Russia had a plan to introduce new currency by 2025, but current sanctions against Russia will speed things up.
It should speed up dollar collapse.

https://www.youtube.com/watch?v=B4b7aIur5ic