Sunday, June 9, 2019

Putin To Leave The Dollar Behind


Putin Sets The Table To Leave The Dollar Behind



This is twice that Russian President Putin has said on the global stage the Federal Reserve Note no longer deserves the status and privilege of “world reserve currency” that allows unlimited printing of the currency. The first time he made mention he actually said that it was a threat to Russia’s national security.
In a speech at the International Economic Forum, in St. Petersburg, Russia, “Russian Davos”, President Putin reaffirmed his position regarding the Federal Reserve Note and it’s international role. For the record, we see the abuse of the Federal Reserve and the Federal Reserve Note, U.S. dollar, in similar light as President Putin. 
The current status of “world reserve currency” should not be allowed in this day and time. The absolute abuse of power, excessive power granted and the ability to shackle entire nations through the use of a currency that is not even their own should have never been allowed but it is way past time for this system to be dissolved.

The Business Times also reported Changes in the global economy “call for the adaptation of international financial organisations (and) rethinking the role of the dollar which… has turned into an instrument of pressure by the country of issue on the rest of the world,” Mr Putin said.
Then went on to say The Kremlin chief – whose country has chafed under numerous rounds of US sanctions – has repeatedly slammed the global financial system established by Washington in the aftermath of World War II.
Let’s be clear about the effect of the sanctions against Russia. These sanctions that were suppose to cripple Russia have in fact made their economy stronger, more resilient and the ground work for long term growth is now in place. President Putin welcomes sanctions as he simply turns to the people and Russia, funds the next set of projects and Russia becomes a little more self sustaining. Sanctions no longer work, and the Federal Reserve, U.S. Treasury and the western allies have now been put on notice.

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