StoneSoup Posted March 4, 2014 Report Share Posted March 4, 2014 Russian lawmaker wants to outlaw U.S. dollar, calls it a Ponzi scheme MOSCOW — Predicting the imminent collapse of the U.S. dollar, a Russian lawmaker submitted a bill to his country’s parliament Wednesday that would ban the use or possession of the American currency. Mikhail Degtyarev, the lawmaker who proposed the bill, compared the dollar to a Ponzi scheme. He warned that the government would have to bail out Russians holding the U.S. currency if it collapses. “If the U.S. national debt continues to grow, the collapse of the dollar system will take place in 2017,†said Mr. Degtyarev, a member of the nationalist Liberal Democrat Party who lost in Moscow’s recent mayoral election. “The countries that will suffer the most will be those that have failed to wean themselves off their dependence on the dollar in time. In light of this, the fact that confidence in the dollar is growing among Russian citizens is extremely dangerous.†The bill would partially revive a Soviet-era ban on the dollar. It would prohibit Russians from holding dollars in the country’s banks, and banks would be unable to carry out transactions in the dollar. However, Russians still would be able to buy or sell dollars while abroad and hold dollar accounts in foreign banks. More: http://m.washingtontimes.com/news/2013/nov/13/bill-would-outlaw-us-dollar-russia/ Cheers! SS Link to comment Share on other sites More sharing options...
cavanami Posted March 4, 2014 Report Share Posted March 4, 2014 Did someone just wake them up...it has been fiat money, ponzi scheme for decades! Link to comment Share on other sites More sharing options...
waerth Posted March 4, 2014 Report Share Posted March 4, 2014 Yeah Cavanami just move all your money into Rubles ...... much safer Link to comment Share on other sites More sharing options...
Flashermac Posted March 4, 2014 Report Share Posted March 4, 2014 Now is a good time to invest in rice. Link to comment Share on other sites More sharing options...
cavanami Posted March 5, 2014 Report Share Posted March 5, 2014 I'll stay with gold and silver... Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.