Russia planning to push Dollar in crisis ? Chance for Bitcoin ?

InwardContour

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Quote from: BitCoinDream on July 08, 2014, 06:25:08 PM

Quote from: InwardContour on July 06, 2014, 06:54:49 PM

Quote from: Erdogan on July 03, 2014, 07:25:53 PM

The analysiz by Sergej Glazyev in the original post is mostly correct in my view.

The bank transfers, the credit card systems and all world remittance systems have all been captured by the bullies in the united states government. (That doesn't mean that the russian government are not bullies).

What the russians could and should do, is to establish a network of banks/exhanges in all countries totally disconnected from the current bank system, offering deposit accounts in rubles and renmimbi (and others) combined with market based exchanges for these currencies. For USD, only deposit and withdrawal of notes. Of course they would have to stop meddling with their exchange ratios.

That would take some of the power out of the USA bank hegemony.

Globalization would prevent this from being successful. Since Russia needs to trade with other countries and most trade is denominated in US Dollars, there would be a demand to have US based banking transfers.

This is in formation as an alternative to IMF & World Bank which are the backbone of trade domination => http://en.wikipedia.org/wiki/BRICS_Development_Bank

The IMF and the world bank only provide funding to smaller, developing countries.

RocketSingh

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Quote from: BitCoinDream on July 08, 2014, 06:25:08 PM

Quote from: InwardContour on July 06, 2014, 06:54:49 PM

Quote from: Erdogan on July 03, 2014, 07:25:53 PM

The analysiz by Sergej Glazyev in the original post is mostly correct in my view.

The bank transfers, the credit card systems and all world remittance systems have all been captured by the bullies in the united states government. (That doesn't mean that the russian government are not bullies).

What the russians could and should do, is to establish a network of banks/exhanges in all countries totally disconnected from the current bank system, offering deposit accounts in rubles and renmimbi (and others) combined with market based exchanges for these currencies. For USD, only deposit and withdrawal of notes. Of course they would have to stop meddling with their exchange ratios.

That would take some of the power out of the USA bank hegemony.

Globalization would prevent this from being successful. Since Russia needs to trade with other countries and most trade is denominated in US Dollars, there would be a demand to have US based banking transfers.

This is in formation as an alternative to IMF & World Bank which are the backbone of trade domination => http://en.wikipedia.org/wiki/BRICS_Development_Bank

An interesting development indeed, but they need to have their share in OPEC.

DannyElfman

sr. member

Activity: 406

Merit: 250

Quote from: Erdogan on July 08, 2014, 09:49:23 PM

Quote from: DannyElfman on July 08, 2014, 09:25:51 PM

Quote from: Erdogan on July 08, 2014, 09:19:49 PM

Quote from: InwardContour on July 06, 2014, 06:54:49 PM

Quote from: Erdogan on July 03, 2014, 07:25:53 PM

The analysiz by Sergej Glazyev in the original post is mostly correct in my view.

The bank transfers, the credit card systems and all world remittance systems have all been captured by the bullies in the united states government. (That doesn't mean that the russian government are not bullies).

What the russians could and should do, is to establish a network of banks/exhanges in all countries totally disconnected from the current bank system, offering deposit accounts in rubles and renmimbi (and others) combined with market based exchanges for these currencies. For USD, only deposit and withdrawal of notes. Of course they would have to stop meddling with their exchange ratios.

That would take some of the power out of the USA bank hegemony.

Globalization would prevent this from being successful. Since Russia needs to trade with other countries and most trade is denominated in US Dollars, there would be a demand to have US based banking transfers.

Well it is included. The point is to disconnect from the us-governed banks.
Ok to detail it: USD transfers within this new banking system would be possible (but probably not needed, that is the point with this proposed system), but not wire transfers such as SWIFT, because that would make the new system vulnerable to pressure from the us government.

Anyway, I don't want to detail it more because I am not going to build it.

I don't see a demand for that kind of system. I see and understand that it would be disconnected from US banks, however compared to other banks in global financial centers US banks are more healthy then their counterparts, making them more attractive to trade and deal with. I understand why Russia may want to do this as retaliation for US sanctions but I don't see why other countries would want to participate.

Well the individual actors and the whole countries that are shut out of that systems on the whims of the USG, plus the people that proposes that the USG has grossly exploited that system to the harm of producers around the globe, may beg to differ. That would be the reason to establish another system. If everybody are happy with the current system, obviously they use that.

Edit: I don't even want to blame only the USG, because any country could have devised its own fiat system non-inflationary just like bitcoin (minus the trust in the money issuer), if they wanted. The current system came about partly by historical accident, partly by ignorance, and partly by the fact that other governments are also evil.

This would be a very small monetary system as there are very few countries that are shut out of the global remittance system, and the ones that are shut out are generally not economic allies. An even more important point is that these countries are generally enemies of Russia and pose a larger military threat to Russia then the US does.

Erdogan

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Quote from: DannyElfman on July 08, 2014, 09:25:51 PM

Quote from: Erdogan on July 08, 2014, 09:19:49 PM

Quote from: InwardContour on July 06, 2014, 06:54:49 PM

Quote from: Erdogan on July 03, 2014, 07:25:53 PM

The analysiz by Sergej Glazyev in the original post is mostly correct in my view.

The bank transfers, the credit card systems and all world remittance systems have all been captured by the bullies in the united states government. (That doesn't mean that the russian government are not bullies).

What the russians could and should do, is to establish a network of banks/exhanges in all countries totally disconnected from the current bank system, offering deposit accounts in rubles and renmimbi (and others) combined with market based exchanges for these currencies. For USD, only deposit and withdrawal of notes. Of course they would have to stop meddling with their exchange ratios.

That would take some of the power out of the USA bank hegemony.

Globalization would prevent this from being successful. Since Russia needs to trade with other countries and most trade is denominated in US Dollars, there would be a demand to have US based banking transfers.

Well it is included. The point is to disconnect from the us-governed banks.
Ok to detail it: USD transfers within this new banking system would be possible (but probably not needed, that is the point with this proposed system), but not wire transfers such as SWIFT, because that would make the new system vulnerable to pressure from the us government.

Anyway, I don't want to detail it more because I am not going to build it.

I don't see a demand for that kind of system. I see and understand that it would be disconnected from US banks, however compared to other banks in global financial centers US banks are more healthy then their counterparts, making them more attractive to trade and deal with. I understand why Russia may want to do this as retaliation for US sanctions but I don't see why other countries would want to participate.

Well the individual actors and the whole countries that are shut out of that systems on the whims of the USG, plus the people that proposes that the USG has grossly exploited that system to the harm of producers around the globe, may beg to differ. That would be the reason to establish another system. If everybody are happy with the current system, obviously they use that.

Edit: I don't even want to blame only the USG, because any country could have devised its own fiat system non-inflationary just like bitcoin (minus the trust in the money issuer), if they wanted. The current system came about partly by historical accident, partly by ignorance, and partly by the fact that other governments are also evil.

DannyElfman

sr. member

Activity: 406

Merit: 250

Quote from: Erdogan on July 08, 2014, 09:19:49 PM

Quote from: InwardContour on July 06, 2014, 06:54:49 PM

Quote from: Erdogan on July 03, 2014, 07:25:53 PM

The analysiz by Sergej Glazyev in the original post is mostly correct in my view.

The bank transfers, the credit card systems and all world remittance systems have all been captured by the bullies in the united states government. (That doesn't mean that the russian government are not bullies).

What the russians could and should do, is to establish a network of banks/exhanges in all countries totally disconnected from the current bank system, offering deposit accounts in rubles and renmimbi (and others) combined with market based exchanges for these currencies. For USD, only deposit and withdrawal of notes. Of course they would have to stop meddling with their exchange ratios.

That would take some of the power out of the USA bank hegemony.

Globalization would prevent this from being successful. Since Russia needs to trade with other countries and most trade is denominated in US Dollars, there would be a demand to have US based banking transfers.

Well it is included. The point is to disconnect from the us-governed banks.
Ok to detail it: USD transfers within this new banking system would be possible (but probably not needed, that is the point with this proposed system), but not wire transfers such as SWIFT, because that would make the new system vulnerable to pressure from the us government.

Anyway, I don't want to detail it more because I am not going to build it.

I don't see a demand for that kind of system. I see and understand that it would be disconnected from US banks, however compared to other banks in global financial centers US banks are more healthy then their counterparts, making them more attractive to trade and deal with. I understand why Russia may want to do this as retaliation for US sanctions but I don't see why other countries would want to participate.

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: InwardContour on July 06, 2014, 06:54:49 PM

Quote from: Erdogan on July 03, 2014, 07:25:53 PM

The analysiz by Sergej Glazyev in the original post is mostly correct in my view.

The bank transfers, the credit card systems and all world remittance systems have all been captured by the bullies in the united states government. (That doesn't mean that the russian government are not bullies).

What the russians could and should do, is to establish a network of banks/exhanges in all countries totally disconnected from the current bank system, offering deposit accounts in rubles and renmimbi (and others) combined with market based exchanges for these currencies. For USD, only deposit and withdrawal of notes. Of course they would have to stop meddling with their exchange ratios.

That would take some of the power out of the USA bank hegemony.

Globalization would prevent this from being successful. Since Russia needs to trade with other countries and most trade is denominated in US Dollars, there would be a demand to have US based banking transfers.

Well it is included. The point is to disconnect from the us-governed banks.
Ok to detail it: USD transfers within this new banking system would be possible (but probably not needed, that is the point with this proposed system), but not wire transfers such as SWIFT, because that would make the new system vulnerable to pressure from the us government.

Anyway, I don't want to detail it more because I am not going to build it.

beetcoin

sr. member

Activity: 434

Merit: 250

Quote from: bg002h on July 06, 2014, 05:42:19 PM

Good read: http://www.amazon.com/Currency-Wars-Making-Global-Crises/dp/B006JAM3UU/ref=tmm_aud_title_0

Author served on a DoD war game where the USD was attacked by Russia...

i might read this one next.. currently reading noam chomsky right now.

hdbuck

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Activity: 1260

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tick tock tick tock

gotta love dominos Grin

BitCoinDream

legendary

Activity: 2394

Merit: 1216

The revolution will be digital

Quote from: InwardContour on July 06, 2014, 06:54:49 PM

Quote from: Erdogan on July 03, 2014, 07:25:53 PM

The analysiz by Sergej Glazyev in the original post is mostly correct in my view.

The bank transfers, the credit card systems and all world remittance systems have all been captured by the bullies in the united states government. (That doesn't mean that the russian government are not bullies).

What the russians could and should do, is to establish a network of banks/exhanges in all countries totally disconnected from the current bank system, offering deposit accounts in rubles and renmimbi (and others) combined with market based exchanges for these currencies. For USD, only deposit and withdrawal of notes. Of course they would have to stop meddling with their exchange ratios.

That would take some of the power out of the USA bank hegemony.

Globalization would prevent this from being successful. Since Russia needs to trade with other countries and most trade is denominated in US Dollars, there would be a demand to have US based banking transfers.

This is in formation as an alternative to IMF & World Bank which are the backbone of trade domination => http://en.wikipedia.org/wiki/BRICS_Development_Bank

Eric2013

member

Activity: 102

Merit: 10

interesting, but i dont think the Russian could make it happen. Dollar has been the leading currency for so many years mate.

E-valuta

member

Activity: 70

Merit: 10

Quote from: Catmoonglow on July 07, 2014, 12:37:08 AM

Maybe we'll get lucky and Putin will only target Washington D.C. with his nukes.

You mean the nuke attack on NY and London that US will be responsible for? On the 22/7?

APSJEX.com

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Activity: 20

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people that have the means do have this before investing a lot in other assets.

mamarried

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Quote from: Catmoonglow on July 07, 2014, 12:37:08 AM

Maybe we'll get lucky and Putin will only target Washington D.C. with his nukes.

did you even read the freaking article?

Catmoonglow

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Maybe we'll get lucky and Putin will only target Washington D.C. with his nukes.

InwardContour

sr. member

Activity: 644

Merit: 260

Quote from: Erdogan on July 03, 2014, 07:25:53 PM

The analysiz by Sergej Glazyev in the original post is mostly correct in my view.

The bank transfers, the credit card systems and all world remittance systems have all been captured by the bullies in the united states government. (That doesn't mean that the russian government are not bullies).

What the russians could and should do, is to establish a network of banks/exhanges in all countries totally disconnected from the current bank system, offering deposit accounts in rubles and renmimbi (and others) combined with market based exchanges for these currencies. For USD, only deposit and withdrawal of notes. Of course they would have to stop meddling with their exchange ratios.

That would take some of the power out of the USA bank hegemony.

Globalization would prevent this from being successful. Since Russia needs to trade with other countries and most trade is denominated in US Dollars, there would be a demand to have US based banking transfers.

bg002h

donator

Activity: 1464

Merit: 1047

I outlived my lifetime membership:)

Good read: http://www.amazon.com/Currency-Wars-Making-Global-Crises/dp/B006JAM3UU/ref=tmm_aud_title_0

Author served on a DoD war game where the USD was attacked by Russia...

Harley997

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Activity: 266

Merit: 250

Quote from: Ron~Popeil on July 05, 2014, 05:37:43 PM

Quote from: Harley997 on July 04, 2014, 02:25:58 AM

Quote from: ?? on ??

Quote from: DannyElfman on July 02, 2014, 11:26:39 PM

...
If a country is holding dollars then these dollars can purchase a certain amount of goods/services. If the value of the dollar were to fall then the dollars that the country is holding can now purchase less goods/services

And the dollar is certain to lose value so countries would need to put those dollars into safer stores of value as quickly as possible to avoid loses. That ups demand for safe havens making raw materials more expensive which makes essentials more expensive for all economies no matter how strong, that further increases demand for safe havens and the end result is global hyperinflation.

Why is the dollar certain to lose value? It is by far the most traded and the most accepted form of payment in the world.

That dollar is losing value all the time. Inflation of any currency devalues it. The fact that it is a reserve currency can only prop it up for so long.

Inflation will always cause any currency to lose value, but inflation does not take a major toll on the buying power of currencies when kept in check (is low enough)

Ron~Popeil

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Activity: 406

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Quote from: Harley997 on July 04, 2014, 02:25:58 AM

Quote from: ?? on ??

Quote from: DannyElfman on July 02, 2014, 11:26:39 PM

...
If a country is holding dollars then these dollars can purchase a certain amount of goods/services. If the value of the dollar were to fall then the dollars that the country is holding can now purchase less goods/services

And the dollar is certain to lose value so countries would need to put those dollars into safer stores of value as quickly as possible to avoid loses. That ups demand for safe havens making raw materials more expensive which makes essentials more expensive for all economies no matter how strong, that further increases demand for safe havens and the end result is global hyperinflation.

Why is the dollar certain to lose value? It is by far the most traded and the most accepted form of payment in the world.

That dollar is losing value all the time. Inflation of any currency devalues it. The fact that it is a reserve currency can only prop it up for so long.

DannyElfman

sr. member

Activity: 406

Merit: 250

Quote from: ajareselde on July 03, 2014, 09:23:00 AM

Quote from: ?? on ??

Quote from: DannyElfman on July 02, 2014, 11:26:39 PM

...
If a country is holding dollars then these dollars can purchase a certain amount of goods/services. If the value of the dollar were to fall then the dollars that the country is holding can now purchase less goods/services

And the dollar is certain to lose value so countries would need to put those dollars into safer stores of value as quickly as possible to avoid loses. That ups demand for safe havens making raw materials more expensive which makes essentials more expensive for all economies no matter how strong, that further increases demand for safe havens and the end result is global hyperinflation.

fact realy is that dollar is falling, but will bitcoin realy be the solution, im not so sure, but there will definetly be people who will spread FUD about that happening.

ive read about russia forgiving large portion of debt to korea, and germany that is allying with china, but it all may be a big hoax, we cant know for sure.

Do you have any sources regarding these rumors? Both sound contrary to what russia and Germany would likely wish to do.

I would also disagree that the dollars is falling in value

Harley997

sr. member

Activity: 266

Merit: 250

Quote from: ?? on ??

Quote from: DannyElfman on July 02, 2014, 11:26:39 PM

...
If a country is holding dollars then these dollars can purchase a certain amount of goods/services. If the value of the dollar were to fall then the dollars that the country is holding can now purchase less goods/services

And the dollar is certain to lose value so countries would need to put those dollars into safer stores of value as quickly as possible to avoid loses. That ups demand for safe havens making raw materials more expensive which makes essentials more expensive for all economies no matter how strong, that further increases demand for safe havens and the end result is global hyperinflation.

Why is the dollar certain to lose value? It is by far the most traded and the most accepted form of payment in the world.

Topic: Russia planning to push Dollar in crisis ? Chance for Bitcoin ? (Read 4915 times)