He is wasting his time. The desirability of a currency as a reserve currency is determined by the value of the debt that can be bought with it. Everybody want to earn a return on their cash holdings. You might go out and buy yourself a big pile of Putin-Rubles, but then what will you do with your money? Anybody feel like investing in a Russian corporation? Sound like a safe investment?
I think this was already being pursued, wasn’t it?
Maybe they are now going to try to shift it into high gear.
thank the neocons for their obsession with reviving the cold war
Besides us “Free-Traitors” who wants a strong (versus foreign currencies) dollar? It makes imports cheaper and exports more expensive or so the theory goes. Seems like Putin’s goal would help the US balance of trade.
Maybe the Fed should bump interest rates again and raise the dollar more. Russia’s currency may be better than pesos but it’s still trash.
It's not what Putin does that counts for anything in this.
Since the FDR administration (with a respite in the Reagan Administration), the US Government and the Federal Reserve have mismanaged the Dollar and Debt hampering sustainable stability and value.
The currency of choice for worldwide exchange and trade will eventually change unless the US changes it's principles regarding currency.
Putin and other nations seek to strengthen and stabilize another currency to compete with the Dollar.
None of them are there yet, but a couple are maturing. The US has no choice but to rebuild the Dollar (and our economy) and President Trump has certainly given our economy a kick in the pants to get it up and moving, he knows how to do business.
I believe he also knows the value of a strong and stable Dollar and will drain the Federal Reserve corner of the Swamp. He certainly has acted on Taxes, if only the Swamp RINOs and GOPee will follow.
It will be slightly painful to rescue the Dollar, but a lot of it can be inflicted on Leftist waste and foreigner bums and criminals.
That’s about like NY State saying that it wants to replace the dollar as the world’s reserve currency - because the entire Russian economy is the size of New York’s...
...and if that idiot, Cuomo, and that bigger idiot, DeCommio, would get out of the way, then NY’s economy would grow faster than Russia’s.
I admire Putin for trying to strengthen and secure his own country, but I’m not really worried about what he does - short of launching nuclear weapons.
Yeh we are shaking an our boots Putey.
Coordinated effort.
By Damon Evans
Nikkei Asian Review, Tokyo
Friday, September 1, 2017
https://asia.nikkei.com/Markets/Commodities/China-sees-new-world-order-w...
DENPASAR, Indonesia — China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry.
The contract could become the most important Asia-based crude oil benchmark, given that China is the world’s biggest oil importer. Crude oil is usually priced in relation to Brent or West Texas Intermediate futures, both denominated in U.S. dollars.
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As islam rapidly destroys Europe, all hopes of beating the “petro-dollar” fade deep into the indistinct background.
Putin is frustrated, and feckless.
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