Topic: Russia to Drop USD as reserve currency - could mean 5000+ USD bitcoins - page 4. (Read 10450 times)
March 27, 2014, 07:30:45 PM
In the meantime, BTC prices drops to below $500
March 27, 2014, 07:27:54 PM
The rest of the world is the US, EU, japan, South Korea, Australia, Canada, Mexico....they will never drop the usd as the reserve currency.
We could end up with two reserve currencies....but not likely.
Russia is not as huge economy like the us or the eu or even china. Sure they export lots of natural gas to the eu but if the sanctions hit their exports and the us supplies the eu with us natual gas, Russia is done. But right now there is no way the US can easily export it's natual gas.
If Russia tries to take Ukraine they will get fucked economically.
China is fragile too...look at the bank runs. Plus china hates crypto currencies too.
You guys do know that if china and russia banded together they could be a formidable block of economic and military power but if they ruled the world you can kiss crypto good bye.
Bitcoin is still going to go to $5000 just because of all the turmoil that's probably going to happen in the next 10 months. Bitcoin has to shake off this china shit once and for all first.
We could end up with two reserve currencies....but not likely.
Russia is not as huge economy like the us or the eu or even china. Sure they export lots of natural gas to the eu but if the sanctions hit their exports and the us supplies the eu with us natual gas, Russia is done. But right now there is no way the US can easily export it's natual gas.
If Russia tries to take Ukraine they will get fucked economically.
China is fragile too...look at the bank runs. Plus china hates crypto currencies too.
You guys do know that if china and russia banded together they could be a formidable block of economic and military power but if they ruled the world you can kiss crypto good bye.
Bitcoin is still going to go to $5000 just because of all the turmoil that's probably going to happen in the next 10 months. Bitcoin has to shake off this china shit once and for all first.
March 27, 2014, 06:46:48 PM
Where did you get the $5000+ figure from? Random guess?
March 27, 2014, 06:38:23 PM
Even if they do not choose cryptocurrencies as an alternative option, this could trigger a massive USD devaluation which in turn will be good for crypto:
http://in.reuters.com/article/2014/03/04/ukraine-crisis-russia-us-idINDEEA2305J20140304
“We will have to move into other currencies, create our own settlement system.”
Yay. How about a sanction proof global currency? BTC
http://in.reuters.com/article/2014/03/04/ukraine-crisis-russia-us-idINDEEA2305J20140304
“We will have to move into other currencies, create our own settlement system.”
Yay. How about a sanction proof global currency? BTC
Sorry. Quote the BILLIONS of dollars Russia has had and it sounds big. Realize that it takes TRILLIONS of dollars to move the market. Russia in the past few weeks has already dumped 1/2 of it's USD holdings/bonds etc with almost ZERO effect.
If China or Germany did it there would be a problem. Not Russia.
Russia was first out and got the best prices.
China wants out too, but doesn't want all their current holdings to crash.
"It's the end of the world as we know it..."
March 27, 2014, 06:33:23 PM
http://www.businessinsider.com/putin-aide-threats-2014-3
Russia is not dropping the U.S Dollar as a reserve currency, that would mean HUGE debts and loans for many Russian Banks and Corporations...Not gonna happen.
Russia is not dropping the U.S Dollar as a reserve currency, that would mean HUGE debts and loans for many Russian Banks and Corporations...Not gonna happen.
March 27, 2014, 06:06:03 PM
Russia is a small economy, can't devalue the USD price in more than a few cents.
March 27, 2014, 05:59:20 PM
Even if they do not choose cryptocurrencies as an alternative option, this could trigger a massive USD devaluation which in turn will be good for crypto:
http://in.reuters.com/article/2014/03/04/ukraine-crisis-russia-us-idINDEEA2305J20140304
“We will have to move into other currencies, create our own settlement system.”
Yay. How about a sanction proof global currency? BTC
http://in.reuters.com/article/2014/03/04/ukraine-crisis-russia-us-idINDEEA2305J20140304
“We will have to move into other currencies, create our own settlement system.”
Yay. How about a sanction proof global currency? BTC
Sorry. Quote the BILLIONS of dollars Russia has had and it sounds big. Realize that it takes TRILLIONS of dollars to move the market. Russia in the past few weeks has already dumped 1/2 of it's USD holdings/bonds etc with almost ZERO effect.
If China or Germany did it there would be a problem. Not Russia.
March 27, 2014, 05:55:38 PM
if they drop USD. they have an oppertunity to change all their bureau de change so that 1 russian ruble is worth 1million dollars..
that way it stops US from trying to get lots of rubles. while at the same time devaluing the USD. keeping food and resources for russians at the same rate, but offering a better deal when purchasing dollars for the russians. and worse deal for americans purchasing dollars
imagine how epic that would be
that way it stops US from trying to get lots of rubles. while at the same time devaluing the USD. keeping food and resources for russians at the same rate, but offering a better deal when purchasing dollars for the russians. and worse deal for americans purchasing dollars
imagine how epic that would be
March 27, 2014, 05:53:25 PM
Only some 3 percent of the Russian export goes to the USA. The EU don't want to shot itself in the leg by imposing strict sanctions, in addition many EU countries dependent on the russian natgas. So I'm not sure if sanctions will work.
March 27, 2014, 05:46:55 PM
yeah...to da mooon 
actually i dont think they will buy any btc or that we see a price change of btc because of russia.
actually i dont think they will buy any btc or that we see a price change of btc because of russia.
March 27, 2014, 05:45:29 PM
It wont matter, they can drop what ever they want, sanctions will screw them.
I am not so sure. Let's see:
1. Russia - main export goods natgas, oil, palladium and so on - all things with intrinsic value. Harder to sell under US sanctions, but the market is there. Can be happily sold for other currencies or BTC.
2. USA - main export good is USD. No intrinsic value. Only accepted because other countries view it as THE currency. Can be replaced by any other form of numbers in computers.
Who is more vulnerable ... (both have nukes)?
full member
Activity: 122
Merit: 100
I Quantum Leap to different worlds when I sleep...
March 27, 2014, 05:41:25 PM
I highly doubt they will go the crypto route but then again you never know maybe the people will? but not the govs..... The most likely scenario is Russia and China will team up and they will start a new currency system backed by GOLD as both countries have been secretly stockpiling reserves over the years and have a larger stock pile then U.S and both countries have been slowly pulling away from the dollar because people are WAKING UP that the federal dollar is worthless with no end to it's printing and Inflation
There is also the possibility of them trying to form a World Currency and this is the excuse and push for it as Putin is also just a Puppet for the IMF bank like all these so called World LEADERS and they strive for a 1 world government. There is always someone pulling these strings as War is highly profitable and the best way to instill FEAR AND Propaganda and to keep people in line! as they make moves too solidify their secret agendas and ulterior motives an use this as a distraction for the One World Government..........
There is also the possibility of them trying to form a World Currency and this is the excuse and push for it as Putin is also just a Puppet for the IMF bank like all these so called World LEADERS and they strive for a 1 world government. There is always someone pulling these strings as War is highly profitable and the best way to instill FEAR AND Propaganda and to keep people in line! as they make moves too solidify their secret agendas and ulterior motives an use this as a distraction for the One World Government..........
March 27, 2014, 05:20:57 PM
It wont matter, they can drop what ever they want, sanctions will screw them.
March 27, 2014, 05:06:18 PM
Even if they do not choose cryptocurrencies as an alternative option, this could trigger a massive USD devaluation which in turn will be good for crypto:
http://in.reuters.com/article/2014/03/04/ukraine-crisis-russia-us-idINDEEA2305J20140304
“We will have to move into other currencies, create our own settlement system.”
Yay. How about a sanction proof global currency? BTC
http://in.reuters.com/article/2014/03/04/ukraine-crisis-russia-us-idINDEEA2305J20140304
“We will have to move into other currencies, create our own settlement system.”
Yay. How about a sanction proof global currency? BTC
Jump to: