The Israel Deception

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Showing posts with label ruble. Show all posts
Showing posts with label ruble. Show all posts

Thursday, March 23, 2017

Russia now prepared for both dollar collapse and future sanctions by announcing alternative SWIFT system

Over the 70+ years the U.S. has had control over the global monetary system, they have used the dollar on occasion as an 'economic weapon' to force other countries into ceding to their national and international policies.  And of course their most common way they do this is by cutting off nations from access to the SWIFT system.

But in the wake of the economic sanctions Washington and the European Union imposed on Russia following the Ukrainian coup, China, and now we can add Russia to this group, have used their time in creating their own SWIFT alternatives, and on March 23 the central bank of Russia announced they are fully prepared for any overt or covert monetary crisis which may include a dollar collapse, or future sanctions that might be used to attack the ruble.

Image result for russia and china against the us
If the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is shut down in Russia, the country’s banking system will not crash, according to Central Bank Governor Elvira Nabiullina. Russia has a substitute. 
"There were threats that we can be disconnected from SWIFT. We have finished working on our own payment system, and if something happens, all operations in SWIFT format will work inside the country. We have created an alternative," Nabiullina said at a meeting with President Vladimir Putin on Wednesday. 
She also added that 90 percent of ATMs in Russia are ready to accept the Mir payment system, a domestic version of Visa and MasterCard. 
Izvestia daily reported that as of January 2016, 330 Russian banks had been connected to the SWIFT alternative, the system for transfer of financial messages (SPFS). 
In 2014 and 2015, when the crisis in relations between Russia and the West were at their peak over Crimea and eastern Ukraine, some Western politicians urged disconnecting Russia from SWIFT. - Russia Today

Friday, March 17, 2017

Russia and Japan show that the future of bilateral trade may involve ditching sovereign currencies in favor of digital ones

With banks working feverishly to creating blockchain based currencies for use in interbank settlements, a new idea on March 17 may spell an even greater future for sovereign use of digital money.

This is because both Russia and Japan may soon be planning to experiment with the creation of a digital currency in their joint bi-lateral economic agreements over the contested Kuril Islands.

Russia, or rather the former Soviet Union, had co-opted the islands from Japan at the tail end of World War II.  And ever since that time Japan's desire for their repatriation had been a major stumbling block in relations between the two countries.

But late last year Russia offered to allow Japan the opportunity to play a significant role in the economic expansion of the Kuril Islands, similar in ways to how Turkey and Greece politically deal with the ownership of Cyprus.  And at the center of this agreement is the foundation to make the islands into a jointly run economic enterprise.

Yet one of the biggest road blocks in this agreement was in determining which currency would dominate the economy... ie... the ruble or the yen.  And it is here that Japan is now suggesting the creation of an entirely new digital currency that would be unique to the islands and the trade agreement, and through which it could be easily transferable into whichever currency customers and retailers desired.

Japanese Prime Minister's Shinzo Abe  and Russian President Vladimir Putin

Image Courtesy of Sputnik/ Alexei Druzhinin
Tokyo has prepared a range of offers to Moscow for joint economic projects on Russia's Kuril Islands, according to Japan's national broadcaster NHK. 
The package of proposals, including tourism and fisheries, as well as a common electronic currency, will be presented during the Russia-Japan consultations on March 18 in Tokyo. 
According to NHK, the new regional currency could be used instead of the Russian ruble and the Japanese yen and is expected to contribute to the development of the southern Kurils and the northern Japanese island of Hokkaido. 
Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday that Moscow is ready to review Tokyo’s proposals, adding that all the projects must comply with Russian law. 
"Of course, we believe such projects can only be implemented if they are not inconsistent with Russian law. We are ready to assess Japan’s proposals," she said. 
Agreement on joint Russian-Japanese economic activities in the South Kuril Islands was reached in December during President Vladimir Putin’s visit to Tokyo. In February, Japan established a special Council to consider cooperative projects in fisheries, seafood, tourism, environmental protection, and health in the economic zone. - Russia Today

Saturday, October 29, 2016

Forget nuclear weapons, the new Cold War is about gold and currencies

It is perhaps ironic that the American century was built upon having the most gold reserves in the world following the destruction of two World Wars, and is ending because they gave up reliance on a gold standard for trust in credit and fiat currencies.  And with the rise of Russia and China both economically and geo-politically, the new global financial powers have risen themselves on the back of the one true money.

Gold.

With all eyes on Russia’s unveiling their latest nuclear intercontinental ballistic missile (ICBM), which NATO has dubbed the “SATAN” missile, as tensions with the U.S. increase, Moscow’s most potent “weapon” may be something drastically different. 
The rapidly evolving geopolitical “weapon” brandished by Russia is an ever increasing stockpile of gold, as well as Russia’s native currency, the ruble. 
Recently, financial guru Jim Rickards, author of the book “Currency Wars,” wrote that “Russia is poised for a major comeback in its economy. Russian bonds and stocks and the Russian currency, the ruble, will all benefit.” Rickards believes a “strong turnaround” is coming within Russia, and that this comeback will benefit the ruble. 
Rickards, in his 2011 book “Currency Wars,” theorized that Russia and China could combine their gold reserves to form a global gold-backed currency to compete against the U.S. dollar. Currently, Russian reserves stand at roughly 1,500 tonnes, with Chinese reserves totaling over 1,800 tonnes (according to China — it’s likely more), which would amount to a combined total of roughly 3,300 tonnes of gold. 
The U.S. is about to lose overarching control of policymaking within the International Monetary Fund (IMF), thus the U.S. lockup on global gold is about to vanish, according to Business Insider. 
Imagine for a moment the distinctly real possibility that Russian-Chinese alliance could exercise indirect (or even direct) control over the IMF’s gold reserve of over 2,800 tonnes. Russian, Chinese and IMF gold combined would equal roughly 6,100 tonnes, and would allow for direct competition with the U.S. gold reserves, estimated at 8,100 tonnes. 
Russia and China have realized that the petrodollar is wielded by Washington as it’s weapon of choice when opposing a well-armed state, and clearly see the writing on the wall - thus working together to create a new global financial paradigm. - The Free Thought Project
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New Symbol of the Russian (Gold backed?) Ruble

Wednesday, April 6, 2016

The power of gold: Russia's purchase of the metal was the key to their currency's rebound due to falling oil prices

Over the past three years, Russia's economy has been hit hard due to economic sanctions from the West, and falling oil prices in the global markets.  And while Russia was forced to sell off millions of dollar reserves early on to stabilize their currency following the imposition of these sanctions, it has been their ongoing accumulation of gold that has not only aided in the recovery of the Ruble, but also in limiting the duration of a recession brought on by these two-fold factors.


Here’s why Governor Elvira Nabiullina is in no haste to resume foreign-currency purchases after an eight-month pause: gold’s biggest quarterly surge since 1986 has all but erased losses the Bank of Russia suffered by mounting a rescue of the ruble more than a year ago. 
While the ruble’s 9 percent rally this year has raised the prospects that the central bank will start buying currency again, policy makers have instead used 13 months of gold purchases to take reserves over $380 billion for the first time since January 2015. The central bank will wait for the ruble to gain more than 12 percent to 60 against the dollar before it steps back into the foreign-exchange market, according to a Bloomberg survey of economists. 
Central banks including Russia added to their gold reserves with “renewed vigor” in the second half of 2015, accelerating their purchases as diversification of foreign reserves remained a top priority, according to the World Gold Council. Nabiullina then piggybacked on a 16 percent jump in bullion prices in the first three months of the year to move closer to the Bank of Russia’s target of $500 billion for its stockpile. It burned through a fifth of its reserves to prop up the ruble in 2014. - Bloomberg
Russia is proving beyond a shadow of a doubt that gold is not only money, but a much better form of wealth protection than the dollar, or any paper currency or asset.