Topic: Russia planning to push Dollar in crisis ? Chance for Bitcoin ? - page 2. (Read 4915 times)
Russia and China are pretty anti-bitcoin
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.
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.
The Fallacy Of The Dollar Crash
http://realitybloger.wordpress.com/2012/03/20/the-fallacy-of-the-dollar-crash/
http://realitybloger.wordpress.com/2012/03/20/the-fallacy-of-the-dollar-crash/
He suggests erroneously how the dollar has value:
The dollar has value, authority, and spending power simply due to the fact that the United States military beats the shit out of anyone who doesn’t accept it, making it what is referred to as the “world reserve currency”
See my earlier post why the dollar has value:
https://bitcointalksearch.org/topic/m.7665783
is it just me or do other people think that when someone shouts illuminati, i/others imagine an armchair activist basement dweller that loves watching 36 hours of youtube FUD without sleep inbetween
Not just you, but be aware that the hordes are in a sense hypnotized, with a programmed reaction to certain words like conspiracy, dollar fall, gold bug, illuminati, government violence and a few others. They are programmed to adjust their normal side blinders to cover their eyes completely for a while, until the person uttering the words is gone. The wise thing to do, is to open your mind just a bit and think. All human action requires fantasy, emotions and knowledge. And without action you are just a helpless witness.
I used to believe strongly in the US dollar someday (soon) crashing into "mega-hyper-inflation." But I'm not so sure any more.
The main thing that changed my mind was learning about Bitcoin and what gives it its "intrinsic value."
The reason bitcoin has value is because it has great utility - in the present, and especially in the future. The US dollar also has great utility. It's the most accepted currency on the planet.
Now things like the OP posted will, of course, reduce that utility. But it will take a long time, and a lot of things like the above to turn the dollar into a useless piece of paper. Don't get me wrong, the dollar is going down significantly in the near future, but I think it will be just a big hit like Mt Gox was for Bitcoin. We can blame Mt Gox for cutting the value of Bitcoin in half and the Chinese "banning" for some more droppage, but it didn't kill Bitcoin and I don't think the things coming down the pike for the dollar will destroy it either. Of course those drops in value with the US dollar will be permanent unless policies dramatically change (ha-ha), where Bitcoin will continue to recover and move up in true buying power.
The main thing that changed my mind was learning about Bitcoin and what gives it its "intrinsic value."
The reason bitcoin has value is because it has great utility - in the present, and especially in the future. The US dollar also has great utility. It's the most accepted currency on the planet.
Now things like the OP posted will, of course, reduce that utility. But it will take a long time, and a lot of things like the above to turn the dollar into a useless piece of paper. Don't get me wrong, the dollar is going down significantly in the near future, but I think it will be just a big hit like Mt Gox was for Bitcoin. We can blame Mt Gox for cutting the value of Bitcoin in half and the Chinese "banning" for some more droppage, but it didn't kill Bitcoin and I don't think the things coming down the pike for the dollar will destroy it either. Of course those drops in value with the US dollar will be permanent unless policies dramatically change (ha-ha), where Bitcoin will continue to recover and move up in true buying power.
You are confused about what gives money value. That dollar is the most accepted currency on the planet is correct, and that is the hallmark of good money. The best money is the one that is most accepted. But that is now. If the money's value continues down its slippery slope, and if there are alternatives, it will not be the best money, and it will not be accepted to the same degree. So the causation relation is the other way: Good money is accepted, and the quality in question is the long time value, the other money qualities of the dollar is OK.
The inflation expectation, a favorite parameter for the central banks to measure, is about 2% yearly for dollars. So everyone integrates that number in their calculations and happily chug along. You could say that the value of the inflation adjusted dollar is constant. But we are talking about expectation here, and that is something that is in the mind of the actors, and everybody on the planet have the dollar value in their mind. The problem comes when all these people modifies their considerations. It is not up to the central bankers, all they can do is to present their "puts" and hope. The real reason for the value is the supply, which we know is increasing, and the reserve demand from all actors, a parameter that depends on the expectations for the continued value. A positive feedback loop.
...
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
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.
Russia and US are always against the other and try to defeat the other. The USA is the largest economy and the dollar is accepted as most reliable and valuable currency by most people in the world. Most goods or services are priced at dollar, even the cryptocurrency at the moment. To crash dollar system is not easy by any country even the Russia. In the future BTC will get accepted by the majority of the population then maybe BTC has the chance to take over dollar.
Why would Russia want to destroy this? They have been our ally for a world war and are our trading partner nowHave not u heard of cold war between Russia and USA ? Moreover, Putin does not like US's stance on Ukraine in the recent aggression.
Putin is an old KGB agent though. Old habits die hard. I don't think he can do much more than saber rattle quite frankly. In a real shooting war with the west he would be way out gunned.
This is all about prediction. U never know what is actually happening deep inside China & Russia, because they are not so open like Western world.
In reality, dollar holding does not take place in a country's territory. It is shown on book. That is the reason US could freeze Putin's holding in swiss banks, because in reality the dollar is physically stored at US, where swiss bank cant do anything. They just need to erase Putin's holding from the book.
So, in short, China cant destroy USD directly like that. It is achieved through business and sanctions. And if Russia unites with China, US's business activity will surely take a hit.
U r missing the point. When u say a non-US country is holding USD, it does not mean they are physically holding that. They are holding an equivalent value. USD fall just needs a value change for them. It hurts only USA.
As both russia and china are pretty anti-bitcoin they will not officially approve of bitcoin
russian softening stance on bitcoin now so this story could have some weight.
Russia and US are always against the other and try to defeat the other. The USA is the largest economy and the dollar is accepted as most reliable and valuable currency by most people in the world. Most goods or services are priced at dollar, even the cryptocurrency at the moment. To crash dollar system is not easy by any country even the Russia. In the future BTC will get accepted by the majority of the population then maybe BTC has the chance to take over dollar.
Why would Russia want to destroy this? They have been our ally for a world war and are our trading partner nowHave not u heard of cold war between Russia and USA ? Moreover, Putin does not like US's stance on Ukraine in the recent aggression.
Putin is an old KGB agent though. Old habits die hard. I don't think he can do much more than saber rattle quite frankly. In a real shooting war with the west he would be way out gunned.
This is all about prediction. U never know what is actually happening deep inside China & Russia, because they are not so open like Western world.
In reality, dollar holding does not take place in a country's territory. It is shown on book. That is the reason US could freeze Putin's holding in swiss banks, because in reality the dollar is physically stored at US, where swiss bank cant do anything. They just need to erase Putin's holding from the book.
So, in short, China cant destroy USD directly like that. It is achieved through business and sanctions. And if Russia unites with China, US's business activity will surely take a hit.
U r missing the point. When u say a non-US country is holding USD, it does not mean they are physically holding that. They are holding an equivalent value. USD fall just needs a value change for them. It hurts only USA.
Maybe it's good for development of Bitcoin.
Russia and US are always against the other and try to defeat the other. The USA is the largest economy and the dollar is accepted as most reliable and valuable currency by most people in the world. Most goods or services are priced at dollar, even the cryptocurrency at the moment. To crash dollar system is not easy by any country even the Russia. In the future BTC will get accepted by the majority of the population then maybe BTC has the chance to take over dollar.
Why would Russia want to destroy this? They have been our ally for a world war and are our trading partner nowHave not u heard of cold war between Russia and USA ? Moreover, Putin does not like US's stance on Ukraine in the recent aggression.
Putin is an old KGB agent though. Old habits die hard. I don't think he can do much more than saber rattle quite frankly. In a real shooting war with the west he would be way out gunned.
This is all about prediction. U never know what is actually happening deep inside China & Russia, because they are not so open like Western world.
In reality, dollar holding does not take place in a country's territory. It is shown on book. That is the reason US could freeze Putin's holding in swiss banks, because in reality the dollar is physically stored at US, where swiss bank cant do anything. They just need to erase Putin's holding from the book.
So, in short, China cant destroy USD directly like that. It is achieved through business and sanctions. And if Russia unites with China, US's business activity will surely take a hit.
lol russia
The US has a trade deficit of around $40 billion a month, China has a trade surplus of around the same, who would you rather offer credit to?
Germany
.Why deal with countries which are both manipulating their currency more than quarkcoin or maxcoin ?
The Euro's likely just as bad for manipulation but Germany would probably be my choice too, they've worked their way out of more economic black holes than anyone else I can think of. Recently a renowned US economist made a laughing stock of themselves for claiming Germanys strong exports where a threat to the German economy :/
What a coincidence
I just run across an article about that comment when searching for Germany trade balance numbers:
http://www.europeaninstitute.org/EA-January-2014/perspectives-the-german-trade-surplus-bane-or-boon.html
But really , producing something usable is bad...... better producing useless fiat currency , right?
Too bad that piece of paper is still backed by something more important than economic growth.
The US has a trade deficit of around $40 billion a month, China has a trade surplus of around the same, who would you rather offer credit to?
Germany
.Why deal with countries which are both manipulating their currency more than quarkcoin or maxcoin ?
Also according to some Germany has already claimed number 1 spot in trade balance from China.
The dollars dead, deal with it. The only thing the US exports in any quantity these days is conflict.
http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html
http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html
Quote
But the BRICS countries — Brazil, Russia, India, China and South Africa, a bloc of the world’s five major emerging economies — have long sought to diminish their dependence on the dollar as a means of reshaping the world financial and geopolitical order. In the absence of a viable alternative, however, replacing it has proved difficult.
The brics countries are themselves in such a deep s*** nobody really believes in them anymore.
They are all facing far more problems than Europe and the US right now.
Economists: Global GDP growth on the rise, but BRICs disappoint
http://www.autonews.com/article/20140415/GLOBAL/140419902/economists:-global-gdp-growth-on-the-rise-but-brics-disappoint
And the dollar is so dead ...
I hear that more often than the chinese ban on bitcoin , and it has the same impact.
LoLz... I understand that u have a shitload of USD reserve in your bank account. But, when reports of Oil curtail's accepting BTC is coming up, u should seriously consider to convert them to BTC.... at least half of them
I actually have more bitcoins in my wallet than usd in my bank account.
Also , I doubt I have ever used the usd in my life.
.So you're understanding nothing.
The dollars dead, deal with it. The only thing the US exports in any quantity these days is conflict.
http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html
http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html
Quote
But the BRICS countries — Brazil, Russia, India, China and South Africa, a bloc of the world’s five major emerging economies — have long sought to diminish their dependence on the dollar as a means of reshaping the world financial and geopolitical order. In the absence of a viable alternative, however, replacing it has proved difficult.
The brics countries are themselves in such a deep s*** nobody really believes in them anymore.
They are all facing far more problems than Europe and the US right now.
Economists: Global GDP growth on the rise, but BRICs disappoint
http://www.autonews.com/article/20140415/GLOBAL/140419902/economists:-global-gdp-growth-on-the-rise-but-brics-disappoint
And the dollar is so dead ...
I hear that more often than the chinese ban on bitcoin , and it has the same impact.
LoLz... I understand that u have a shitload of USD reserve in your bank account. But, when reports of Oil curtail's accepting BTC is coming up, u should seriously consider to convert them to BTC.... at least half of them
The dollars dead, deal with it. The only thing the US exports in any quantity these days is conflict.
http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html
http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html
Quote
But the BRICS countries — Brazil, Russia, India, China and South Africa, a bloc of the world’s five major emerging economies — have long sought to diminish their dependence on the dollar as a means of reshaping the world financial and geopolitical order. In the absence of a viable alternative, however, replacing it has proved difficult.
The brics countries are themselves in such a deep s*** nobody really believes in them anymore.
They are all facing far more problems than Europe and the US right now.
Economists: Global GDP growth on the rise, but BRICs disappoint
http://www.autonews.com/article/20140415/GLOBAL/140419902/economists:-global-gdp-growth-on-the-rise-but-brics-disappoint
And the dollar is so dead ...
I hear that more often than the chinese ban on bitcoin , and it has the same impact.
The Dollar crash has been looming for years and it will be ugly. Many people will suffer, so this is not something to look forward to, imo.
Chance for Bitcoin?
Yes, the fiat collapse will be huge for Bitcoin, but watch the price of BTC/Gold, since your fiat wealth will be an illusion.
Chance for Bitcoin?
Yes, the fiat collapse will be huge for Bitcoin, but watch the price of BTC/Gold, since your fiat wealth will be an illusion.
The dollar crash has been looming for years and nothign happened.
Do you remember how the EU would fall in 2000, 2005, 2010 ..2015...
Same for the so called euro crash which is also not happening.
China & Russia are working for years to crash USD backed by OIL. Here is a report from 2012 => http://etfdailynews.com/2012/10/09/china-russia-and-the-end-of-the-petrodollar/
And this just adds to my point.
They are trying and trying and nothing.
Furthermore:
http://en.ria.ru/russia/20140523/190068675/China-to-Pay-for-Russian-Gas-in-US-Dollars--Russian-Energy.html
Laughable
The Dollar crash has been looming for years and it will be ugly. Many people will suffer, so this is not something to look forward to, imo.
Chance for Bitcoin?
Yes, the fiat collapse will be huge for Bitcoin, but watch the price of BTC/Gold, since your fiat wealth will be an illusion.
Chance for Bitcoin?
Yes, the fiat collapse will be huge for Bitcoin, but watch the price of BTC/Gold, since your fiat wealth will be an illusion.
The dollar crash has been looming for years and nothign happened.
Do you remember how the EU would fall in 2000, 2005, 2010 ..2015...
Same for the so called euro crash which is also not happening.
China & Russia are working for years to crash USD backed by OIL. Here is a report from 2012 => http://etfdailynews.com/2012/10/09/china-russia-and-the-end-of-the-petrodollar/
The Dollar crash has been looming for years and it will be ugly. Many people will suffer, so this is not something to look forward to, imo.
Chance for Bitcoin?
Yes, the fiat collapse will be huge for Bitcoin, but watch the price of BTC/Gold, since your fiat wealth will be an illusion.
Chance for Bitcoin?
Yes, the fiat collapse will be huge for Bitcoin, but watch the price of BTC/Gold, since your fiat wealth will be an illusion.
The dollar crash has been looming for years and nothign happened.
Do you remember how the EU would fall in 2000, 2005, 2010 ..2015...
Same for the so called euro crash which is also not happening.
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