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

[BitCoinDream]

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

[hdbuck]

tick tock tick tock



gotta love dominos

[beetcoin]

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.

[Erdogan]

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.

[DannyElfman]

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]

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]

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.

[RocketSingh]

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.

[InwardContour]

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.