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Following China, Russia to Abandon U.S. Dollar Due to $17+ Trillion Debt?

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Published on Nov 14, 2013

One of the world’s reserve currencies, the U.S. dollar, may soon disappear in Russia. According to deputies of the State Duma, the Russians trust the dollar, despite the U.S. crisis. Russian MPs are worried that the dollar system may collapse in 2017 due to the growth of the U.S. government debt.

Michael Dyagterev, politician, member of the State Duma from the Liberal Democratic Party

Forex Money for Exchange in Currency Bank

Forex Money for Exchange in Currency Bank (Photo credit: epSos.de)

“The main objective of the bill is to have a discussion. This is multi- task goal, one of the parts of which is to stop the entry of the dollar in Russia. The second task is to push our leaders towards making all our export operations, including oil and gas ones, in rubles. And, as the crown of the strategy, to create a global reserve currency called the ruble. There’s nothing to fear. It’s the Americans who should be worried. Their national debt is 17 trillion dollars, and it will grow from month to month. Buildup debt is a strategy of the American elite. Since debt is a process that has its end, then the process will end with a default or any other type of turmoil. We need to convert all reserves of the country into gold. No currency should be left there, all paper reserves are disastrous for Russia. This is also a part of the strategy that should be conducted.”

Should the bill on the ban of the circulation and storage of U.S. dollars in Russia be approved, the owners of American bank notes will have to either spend their dollar cash within one year or exchange it for another currency. Otherwise, banks will be forced to sell dollars at an average exchange rate of the previous year. There will be special measures provided to prevent the storage and use of dollars. The American currency will be seized by law enforcement agencies for a period of up to 30 days, and then exchanged and returned to the owner in the domestic currency.

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Written by voiceoftruthusa

November 19, 2013 at 5:59 am

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