Putin says Dollar is a Threat to Economic Sovereignty.
This is a recorded livestream I did on Wednesday, May 9th, 2018. I talked about President Putin's first speech to the Duma after his inauguration on Monday, May 7th, 2018. In this speech he answered a question about the dollar. He said Russian needs to move away from its dependency on the dollar in order to became more economically sovereign.
President Putin also notes that the West or as he calls "some of our partners" are helping or pushing Russia into diversifying its reserves into gold as the U.S. and the U.K. have been flaunting WTO and trade rules by imposing sanctions on Russian businesses. He says this process is gradual but that Russia will stay on course. He also noted that Russia is working on freeing itself of the being dependent on trading oil fro the dollar.
I also answer several questions from my viewers.
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I expect the world is heading for an economic war because of the crisis in Iran and America
Indeed things are heading there. It will be painful for my nation (America) but we too will be better off in the long run
Thank you post @maneco64
Many will claim that in the coming future as Crypto might be the solution to all the answers.
Lets wait and watch.
I think cryptos will help but in the end of the day it all depends on how we treat each other.
That is indeed a fact.
It all began with the fact that the dollar is rigidly tied to gold. The dollar became a reserve currency backed by gold. All countries naturally rushed to make deals for the bucks. In addition, storage in bucks, unlike gold, brought an additional interest income. On the one hand, gold for the dollar should be sold at a fixed price, and on the other: the volume of transactions increased, dollars, backed by gold is not enough. As a result, the dollar was detached from gold. But dollars were left and return them on the old course nobody wants. As a result, the US owes everything, and the dollar remained the currency on which everyone depends.
Yes @aydogdy that is the Triffin Dilemma!
Very nice video :)
Thanks @matiotive!
I love my country and it’s people
But Putin is right! The central bank (fed) Petro dollar as the world currency is doing just that! And the moves America government makes to sanction all these nations is goung to reach a point they bail and fight the dollars status as the world reserve currency! It will hurt the people of my nation when it ends but we will one day have a treasury run dollar and be sovereign ourselves without the central banks
Dollar has always been a determining factor in lost of economies, so dollar holds the power. Put might be right about it with the rift between west and east
yes crypto eat up all.
he says alright
blockchain will be dominate the dollar