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Russia Leaves the Dollar Based Monetary System -- This Is Huge

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Russia leaves the Dollar based monetary system and adopts a system of Sovereign Currency.
The implications are phenomenal!!!

“In 1990 the first priority of Washington and the IMF was to pressure Yeltsin and the Duma to “privatize” the State Bank of Russia, under a Constitutional amendment that mandated the new Central Bank of Russia, like the Federal Reserve or European Central Bank, be a purely monetarist entity whose only mandate is to control inflation and stabilize the Ruble. In effect, money creation in Russia was removed from state sovereignty and tied to the US dollar.”

2016: “The Stolypin club report advises to increase the investment, pumping up the economy with money from the state budget and by the issue of the Bank of Russia”. Putin decided to follow the Stolypin club advice as the new monetary policy of the country.

Russia escapes the Federal Reserve prison! Bravo Russia!

http://russia-insider.com/en/politics/putin-nyet-neo-liberals-da-national-development/ri16051

Explanation:

From 1991 the ruble system worked as follows:

“Any IMF member-country must ensure an instant exchange of all the national currency for the dollars and pounds from its reserves. This rule must be observed at any time. Otherwise, you will not be admitted into the IMF. You will not be counted among the ‘civilized’ nations. It is important to remember that.

This is how the system works:

• Russia sells some commodity on the global market;
• $100 enters the country;
• The central bank buys these dollars at the currency exchange;
• These dollars enter the central bank’s reserves;
• RUB 3,000 enters the Russian economy.”

( Source:  http://borisanisimov.blogspot.nl/2010/10/nationalization-of-ruble.html )
… thus the ruble was owned by the Federal Reserve.

From 2016 on: the ruble will be owned by the Russians.

Note: the ECB is just what the Russian Central Bank was till 2016…



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    Total 8 comments
    • tonyw

      at last a positive move to break the back of the american grip on the world

      • Lastugro

        It is NOT “the american” but the Federal Reserve grip on the world. The USA is locked up in the same debt prison Russia is now busy to vacate.

        • Anonymous

          Russia stopped using the dollar over a year ago- if not more. Esp between China-Russia trades.
          zzzzzzzzzzzzzzzzzzzz

          • Lastugro

            You do not understand the IMF membership conditionalities. You confuse trade with monetary production. Even when you do not direclty use the Dollar, when you trade in any currency of an IMF member country, you use the Dollar (eventually without being aware of it). For every Ruble issued by the Russian Central Bank there must be a coverage in Dollar or equivalent (IMF rule). August 2016: Russia decided to cancel this IMF dependence. THIS is the essence of the article.

    • Lastugro

      Now it’s time for cleaning the economy books of the neolib rubbish fooling the people with cheap mischievous aberrations.
      Here an example of how the neolibs are fooling the economy students:
      - economic growth “explained”
      Karl E. Case, Ray C. Fair, Sharon E Oster] Principles Of Microeconomics 11th Edition
      https://ia800207.us.archive.or…[Karl%20E.%20Case,%20Ray%20C.%20Fair,%20Sharon%20E%20Oster]%20Principles%20of%20Microeconomics%2011th%20Edition%20[Print%20Replica]%20Kindle%20Edition.pdf
      Page 68:
      “Economic growth is characterized by an increase in the total output of an
      economy. It occurs when a society acquires new resources or learns to produce
      more with existing resources. New resources may mean a larger labor force or an
      increased capital stock. The production and use of new machinery and equipment
      (capital) increase workers’ productivity. (Give a man a shovel, and he can dig
      a bigger hole; give him a steam shovel, and wow!) ”

      What? The economy grows when man discovers new resources or new production methods? What happens then, when the economy shrinks? Resources run up? Man forgot to produce?

      - – -

      In reality the banksters know precisely what to do for the economy to grow or to shrink (read carefully!!!):

      1. The 1891 document, the confidential leaflet of the bankers, encouraging mortgages on properties, in anticipation of the crisis that the bankers would launch a little later on to grab all of the mortgaged properties. Besides, here is the text:

      “We are authorizing our loan officers from the Western States to loan on properties, monies repayable by September 1t, 1894. No fatal date is to exceed this date.

      “On September 1st, 1894, we shall categorically refuse all loan renewals. On that day, we shall demand the repayment of our money, under penalty of foreclosure on collaterals.

      “The mortgaged properties will become ours. (Money will have become scarce beforehand, and the repayments will have become generally impossible.) We’ll thus be able to acquire, at a price agreeable to us, two-thirds of the farms west of the Mississippi and thousands more east of this great river.

      “We’ll even be able to possess three quarters of the western farms as well as all the money in the country. The farmers will then become land tenants only, just like in England.”

      2. The above-mentioned 1892 document in which the Bankers expose their philosophy.

      Source: http://www.michaeljournal.org/bankphilo.htm
      The text above describes precisely HOW and WHY the banksters organize the growth-shrink cycles: to loot the population. This is the reason the economics neolib “science” describes the economy as a technical system and not as an activity dependnig also on the credit production. This is what they did to Russia during 1991-2016. This is what they continue to do to the rest of the world.

      Luckyly Russia manages to escape the monetarist prison. Giving priority to the development of the physycal economy is the right path indeed.

      I salute the Stolypin Group!

    • Richard Parker

      Da!

    • VirusGuard

      The jewish international bankers run the IMF and any loans made by them come with a large number of strings attached like being nice to gays and letting immigrants in to your country instead of just repayment terms.

      These on the only ones in the world that are allowed to use the money tree and this means they have cash on hand to bribe our MP’s and to make things happen and anyone thats small and goes against them ends up have the yanks sent in to bomb them to bits.

      Good to see Russia breaking away and i hope to see the otherr BRI’CKS join them too

    • Armed&Friendly

      ironically, russia is now in the exact same position as Nazi Germany. like Hitler (a great and good man) Putin has kicked out all of his jew-banksters and eschewed the corrupt FED jew-dollar . as a result Russia is now under threat of attack from the West. the stakes are so high that the US gov and Israel rigged the trade towers with explosives to get the US military into the Mid-East to attack those countries who did the same; Iraq, Iran, Syria, Libya et…. the end game is a world enslaved to the Rothchild FED Reserve MONEY SCAM. thank God for brave men like Putin and Hitler.

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