The World's #1 Russian, Ukrainian & Eastern European Discussion & Information Forum - RUA!

This Is the Premier Discussion Forum on the Net for Information and Discussion about Russia, Ukraine, Eastern Europe and the Former Soviet Union. Discuss Culture, Politics, Travelling, Language, International Relationships and More. Chat with Travellers, Locals, Residents and Expats. Ask and Answer Questions about Travel, Culture, Relationships, Applying for Visas, Translators, Interpreters, and More. Give Advice, Read Trip Reports, Share Experiences and Make Friends.

Author Topic: De-Dollarisation.  (Read 22890 times)

0 Members and 2 Guests are viewing this topic.

Online Tom Cat

  • Member
  • *
  • Posts: 5103
  • Country: us
  • Gender: Male
  • Spouses Country: Russia
  • Status: Just Looking
  • Trips: 20+
Re: De-Dollarisation.
« Reply #705 on: September 24, 2017, 12:43:21 PM »
Don't shoot the messenger, links to articles posted, don't necessarily reflect my personal opinion.

Online msmoby

  • Member
  • *
  • Posts: 6552
  • Country: gb
  • Gender: Male
  • Spouses Country: Russia
  • Status: Committed
  • Trips: 20+
Re: De-Dollarisation.
« Reply #706 on: September 25, 2017, 01:22:01 AM »
Putin Orders End To Trade In US Dollars At Russian Seaports

https://www.globalresearch.ca/putin-orders-end-to-trade-in-us-dollars-at-russian-seaports/5610248

Yet Dollars and Euros remain the currency of choice re under the bed money..


We are selling the Toyota Rav 4 and the buyer wants to buy in Dollars ....   

We are buying another apartment and the seller wants paid some 'under the table money' in Dollars...

Both were informed that this was Russia and we would deal electronically -in the national currency

This declaration is a bit of a joke given that the Rouble is not exactly an international trading currency - will surely promote business....NOT



Online andrewfi

  • Supporting Member
  • Member
  • *
  • Posts: 16288
  • Country: gb
  • Gender: Male
    • Articles About Almost Anything!
Re: De-Dollarisation.
« Reply #707 on: September 25, 2017, 04:07:48 AM »
While Russia is, officially, against the use of crypto currencies by its citizens those same citizens are pretty damn active in production, marketing and use of crypto. The government is seriously investigating the use of crypto and is likely to support crypto currency use in trade.

So what?

Well, the main benefit of a reserve currency is that it is liquid and able to be used as an intermediary currency between any other currency pairs in global trade.

Crypto currencies offer the same benefits and enable state owned and controlled currencies to be ditched.

I think that we are likely to see the use of state backed crypto currencies in the near future as a means to insulate against the current weaponization of the dollar. (read Trump's UN speech the other day to understand the import of this!)

On that note, it is interesting to see how countries such as Indonesia and Ukraine are saying that cryptocurrencies are not actually money while at the same time doing nothing to stop their use. Of course, states wish to retain the monopoly over money creation, it is central to their ability to maintain power over citizens but at the same time for producers of weak currencies crypto is a very handy tool to have available.

Bitcoin and others are, and will continue to be, tools of de dollarisation.

"For what else is the life of man but a kind of play in which men in various costumes perform until the director motions them offstage?" -Erasmus


Online rosco

  • Member
  • *
  • Posts: 2889
  • Country: gb
  • Gender: Male
  • Status: Married
  • Trips: 10-20
Re: De-Dollarisation.
« Reply #708 on: September 25, 2017, 06:46:17 AM »
Putin Orders End To Trade In US Dollars At Russian Seaports

https://www.globalresearch.ca/putin-orders-end-to-trade-in-us-dollars-at-russian-seaports/5610248

Yet Dollars and Euros remain the currency of choice re under the bed money..


We are selling the Toyota Rav 4 and the buyer wants to buy in Dollars ....   

We are buying another apartment and the seller wants paid some 'under the table money' in Dollars...

Both were informed that this was Russia and we would deal electronically -in the national currency

This declaration is a bit of a joke given that the Rouble is not exactly an international trading currency - will surely promote business....NOT

I think you're getting a bit confused here Moby?

Tom Cat has posted about a government directive, you're talking about end consumers. Not the same thing.

The little man wants to deal in a stable currency because every penny counts, the government wants to increase the stability of the national currency which requires growth & increased useage.

Again you're being disruptive for the sake of it or perhaps I'm overestimating you.

Online andrewfi

  • Supporting Member
  • Member
  • *
  • Posts: 16288
  • Country: gb
  • Gender: Male
    • Articles About Almost Anything!
Re: De-Dollarisation.
« Reply #709 on: September 25, 2017, 10:31:00 AM »
What moby probably does not know is that it is illegal for transactions within Russia to be made in any currency other than the ruble.

All that is happening is that people who are making such transactions are being put on notice that they can no longer expect to do so.

There will be some side benefits accruing to the country but there is no reason to expect the state or government to put up with payments made in something other than rubles. This is, in part, I am sure, why the government does not want Russians buying and using cryptocurrencies. That noted, I am also sure that the Russian state would prefer to see people using Bitcoin or Ethereum in preference to dollars, especially given the trackability of crypto.

"For what else is the life of man but a kind of play in which men in various costumes perform until the director motions them offstage?" -Erasmus

Online Confederate

  • Member
  • *
  • Posts: 5128
  • Country: us
  • Gender: Male
  • Status: Dating
  • Trips: 1-5

Online Confederate

  • Member
  • *
  • Posts: 5128
  • Country: us
  • Gender: Male
  • Status: Dating
  • Trips: 1-5

Offline Poldark

  • Member
  • Posts: 106
  • Gender: Male
  • Status: Just Looking
  • Trips: 1-5
Re: De-Dollarisation.
« Reply #712 on: September 27, 2017, 03:36:20 PM »
Both were informed that this was Russia and we would deal electronically -in the national currency
Yes but it's Russia so you pay in $ or € anyway or at least that is what I have learned although I'm not buying a car, a house or anything else of value in Russia.