Russia warns of dropping US dollar as reserve currency if US imposes sanctions

[senheiser]

Ukraine crisis: Russia warns of dropping US dollar as reserve currency if US imposes sanctions
MOSCOW (REUTERS) – A Kremlin aide was quoted on Tuesday as saying that if the United States were to impose sanctions on Russia over Ukraine, Moscow might be forced to drop the dollar as a reserve currency and refuse to pay off any loans to US banks.

Mr Sergei Glazyev, who is often used by the authorities to stake out a hardline stance but does not make policy, was cited by RIA news agency as saying Moscow could recommend that all holders of US treasuries sell them if Washington freezes the US accounts of Russian businesses and individuals.

The US Senate Foreign Relations Committee is preparing legislation to provide support to Ukraine and consulting the Obama administration on possible sanctions against individual Russians, the committee’s chairman said on Monday.

The committee was also consulting with President Barack Obama’s administration on possible sanctions against individuals ranging from visa bans and asset freezes to suspending military cooperation and sales, as well as economic sanctions.
Ukraine crisis: Russia warns of dropping US dollar as reserve currency if US imposes sanctions

 

[ChineseTiger1986]

Good, China will increase its gold reserve and dump it along with Russia.

 

[terranMarine]

Oh yeah Putin calling the bluff. The Russian bear ain't no scared of any sanctions, they will deal a blow to the US and EU if they try anything funny

 

[Irfan Baloch]

Good, China will increase its gold reserve and dump it along with Russia.

sorry that wont be easy as China has bought trillions of dollar worth of US debt in the shape of treasury bills.
it can risk loosing that money.

Russia on the other hand can make such threat as its not an African or Middle Eastern country that can be invaded for dropping Dollar and has not bought US toxic debt.

 

[jarves]

I thingk its time for BRICS to start there own currency.

 

[Götterdämmerung]

Going through our "free" media, one gets the impression that everybody is in favour of sanctioning Russia, but reading the comments, one sees that our politicians are not reflecting our opinions at all, not even an ounce. In fact, as the days are passing, more and more people are realising in what dangerous path our politicians are leading us into. I don't know anymore for whom they are working, certainly not for the majority of the people.

Right now, within the EU we have tons of problems, ranging from high youth unemployment in Southern Europe to mountains of debt that not even our grandchildren will ever be able to pay back. Is a war the solution to get rid of the millions unemployed young people and to get rid of the debt?

Honi soit qui mal y pense!

 

[LordTyrannus]

You are right. germany has record debts.

2,138,688,383,826 €

Thats 80% of German GDP!!

Russia only has 10% of its GDP as debt. Putin is a much better leader than Merkel.

 

[Hasbara Buster]

I don't know anymore for whom they are working, certainly not for the majority of the people.

Well, duh. The elite in most countries in the world are not working for their own people in case you didn't know (you seem surprised). There may be a few exceptions of course, like Cuba and Libya under Ghadaffi and some other countries. But exceptions don't break the rule.

 

[Götterdämmerung]

The elite in most countries in the world are not working for their own people in case you didn't already know. There may be a few exceptions of course. Like Cuba and Libya under Ghadaffi.

I know, but most people are not even aware of this and talk like puppets about how free and democratic we are. In the last few years the mask is steadily falling off and people start to realise that because they start to feel our civil rights and social achievements are being eroded.

 

[LordTyrannus]

The real reason for the killing of Ghaddafi was the "GREAT MAN MADE RIVER" project.

The Libyans under ghaddafi wanted to use secret water reserves in northern africa. But western Capitalists desire to use that water reserves in the future for their own profit.

 

[Hasbara Buster]

I know, but most people are not even aware of this and talk like puppets about how free and democratic we are. In the last few years the mask is steadily falling off and people start to realise that because they start to feel our civil rights and social achievements are being eroded.

We can only hope that most people in the world will realize this soon because it's a global phenomenon. Germany is not alone if that's any consolation.

 

[Götterdämmerung]

We can only hope that most people in the world will realize this soon because it's a global phenomenon. Germany is not alone if that's any consolation.

Indeed, on the one hand we have the people living in rich developed country who believe that we are the "good" people, on the other hand we have gullible people living in poor developing countries thinking that democracy works in their favour.

One of the reasons why I support China is that, despite its many problems, which are more due to the relative poverty and industrial development than ideology, I still have a grain of hope that China might be able to show an alternative, not as an example to emulate, but to show that each society has to find its own way find true development without outside interference.

 

[LordTyrannus]

Indeed, on the one hand we have the people living in rich developed country who believe that we are the "good" people, on the other hand we have gullible people living in poor developing countries thinking that democracy works in their favour.

One of the reasons why I support China is that, despite its many problems, which are more due to the relative poverty and industrial development than ideology, I still have a grain of hope that China might be able to show an alternative, not as an example to emulate, but to show that each society has to find its own way find true development without outside interference.

The greed will always win. Most of the Human population is very poorly educated. In western countries there are a lot of people who dont even know the history of their own country. They just search for facebook in the net and buy the latest APP for their smartphone.

 

[Beidou2020]

What do you want after you have all the money in the world?

Power!

 

[xyxmt]

Oh yeah Putin calling the bluff. The Russian bear ain't no scared of any sanctions, they will deal a blow to the US and EU if they try anything funny

It funny how every country now threaten US about reserve currency, its is becoming a liability for US now