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

[TaunSew]

I don't see the whole currency war thing.  Since Nixon ended the gold standard, $Fiat already died long ago and it's been replaced by assets.  Very few people have more than 5 digit savings as they put all their money into housing and stocks.

If $USD is replaced by another currency it wouldn't impact assets much.  Look at Eastern European and Chinese real estate, their real estate prices rival or even exceed those of many American areas.  Changing the Petro Currency wouldn't change any of that.  

Technically if Petro Dollar died it wouldn't impact the elites or the asset holders much, but it would probably make life hard for the working poor with no assets and run away inflation would probably make them riot.  "When a man has nothing to lose - he loses it"

Most corporations have well over 5 figures in Fiat (usually fiat equivalents like very short term treasury bonds) to pay for operating expenses and when they cannot invest their money without taking on excess risk.

People should have at least 6 months of savings if they have a steady job or 2 years worth of savings if they are self employed or hold a non-steady job. Granted most people do not have this, but people that have the means do have this before investing a lot in other assets. 

Well corporations tend to be very massive entities, so naturally they would keep these sort of savings on hand, but I feel a corporation can react quicker to the demise of the $USD than ordinary middle and working class people who would be largely oblivious.

Corporations with short turnovers would be affected, like many food corporations have a turnover of weeks and thus a sudden loss of the petrodollar could force many businesses out of business..  but your typical big money entities like industry, IT, et cetera, would have plenty of time to adopt.

Honestly the only people who lose out in a real scenario of the end of $USD strength is the working class / non-asset class and the government / military (asset taxes would not make up for the loss in income tax when the currency drops).

[TEDmachine]

I don't know what everyone else will do but I'll be selling popcorn for bitcoin.

[Harley997]

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 now

Have not u heard of cold war between Russia and USA ? Moreover, Putin does not like US's stance on Ukraine in the recent aggression.

Yes we had the cold war, however there was not actually any fighting directly between the US and Russia.

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 may be true but Russia has a lot to lose and the chances of them loosing are greater now then in the cold war.

[newIndia]

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 now

Have not u heard of cold war between Russia and USA ? Moreover, Putin does not like US's stance on Ukraine in the recent aggression.

Yes we had the cold war, however there was not actually any fighting directly between the US and Russia.

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 may be true but Russia has a lot to lose and the chances of them loosing are greater now then in the cold war.

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.

[Lauda]

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.

Your fiat will be useless, might as well use it a paper for starting a fire.

[newIndia]

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.

Your fiat will be useless, might as well use it a paper for starting a fire.

This actually happened for the German currency after the war.



Source: http://www.silver-investor.com/charlessavoie/cs_july06_paperhangers.htm

[DannyElfman]

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 now

Have not u heard of cold war between Russia and USA ? Moreover, Putin does not like US's stance on Ukraine in the recent aggression.

Yes we had the cold war, however there was not actually any fighting directly between the US and Russia.

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 may be true but Russia has a lot to lose and the chances of them loosing are greater now then in the cold war.

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.

China holds trillions of dollars and trillions more of other countries currencies. If China were to destroy the US dollar then they would lose money on those dollar investments.

[Cicero2.0]

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 now

Have not u heard of cold war between Russia and USA ? Moreover, Putin does not like US's stance on Ukraine in the recent aggression.

Yes we had the cold war, however there was not actually any fighting directly between the US and Russia.

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 may be true but Russia has a lot to lose and the chances of them loosing are greater now then in the cold war.

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.

China holds trillions of dollars and trillions more of other countries currencies. If China were to destroy the US dollar then they would lose money on those dollar investments.

Yes, it is a bit like the old cold war mutually assured destruction doctrine. They need a healthy US dollar more than we do. Things could get ugly fast if we were to default.

[newIndia]

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 now

Have not u heard of cold war between Russia and USA ? Moreover, Putin does not like US's stance on Ukraine in the recent aggression.

Yes we had the cold war, however there was not actually any fighting directly between the US and Russia.

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 may be true but Russia has a lot to lose and the chances of them loosing are greater now then in the cold war.

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.

China holds trillions of dollars and trillions more of other countries currencies. If China were to destroy the US dollar then they would lose money on those dollar investments.

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.

[stompix]

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.

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.

[newIndia]

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.

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/

[stompix]

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.

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

[stompix]

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

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.

[newIndia]

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

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

[stompix]

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

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.

[stompix]

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.

[stompix]

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.

[ImI]

lol russia

[DannyElfman]

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 now

Have not u heard of cold war between Russia and USA ? Moreover, Putin does not like US's stance on Ukraine in the recent aggression.

Yes we had the cold war, however there was not actually any fighting directly between the US and Russia.

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 may be true but Russia has a lot to lose and the chances of them loosing are greater now then in the cold war.

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.

China holds trillions of dollars and trillions more of other countries currencies. If China were to destroy the US dollar then they would lose money on those dollar investments.

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.

The point is that if China were to take actions that were damaging to to the US Dollar then they themselves would take a hit as holders of Trillions of US Dollars.

[Denise520]

Maybe it's good for development of Bitcoin.