Article

2014-03-06 Europe

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

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Posted by Besoeker 2014-03-06 00:00|| || Front Page|| [8 views ] Top

#1 Even Zerohedge hasn't figured out that we are looking at the end of multi-lateral trade. At best, we are looking at currency zones of trade. With perhaps gold as the basis for inter-zone trade.

Posted by phil_b 2014-03-06 03:13|| 2014-03-06 03:13|| Front Page Top

#2 Our regime seems to be setting up the world for a melt-down that will make Chernobyl look like an ice cube in summer.

Posted by AlanC 2014-03-06 07:39|| 2014-03-06 07:39|| Front Page Top

#3 Being the world's largest oil producer gives Russia a bit of leverage, even if they produce most of what they consume.
With or without the Great, Awesome and Most Admirable Obama, the world has been on the edge of a meltdown for almost 10 years now. Just when it'll happen and what will happen is uncertain. An impossible situation, such as the one we're in, won't go on forever. "Too Big to Fail" is a key part of our impossible situation.

Posted by Anguper Hupomosing9418 2014-03-06 08:12|| 2014-03-06 08:12|| Front Page Top

#4 Dumping the dollar means selling your treasuries. Lots of them.

Not only will you lose big if you do, China, which holds a lot more of them, won't be amused.

Not going to happen

Posted by European Conservative 2014-03-06 22:45|| 2014-03-06 22:45|| Front Page Top

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