Putin: Russia Is Ditching The Dollar

Putin announces that he is ditching the dollar

Russian President Vladimir Putin looks like he is set to fulfil his 2011 promise of completely ditching the U.S. dollar in favour of a parallel financial system. 

In 2011 Putin announced plans to create a new rival system, based on the ruble, that will rival the dollar based system. reports:

This may mean that the US will no longer be able to live in debt and create perpetual war, given it will have less buyers of its treasury bonds. The US government holds the largest amount of debt in the world; at $19 trillion, it is guaranteed by nothing more than fiat money.

By contrast, Russia is the top buyer of gold in the world today, and has been steadily increasing its reserves over the past 15 years. This is being done, presumably, to disengage from the dollar system, using a gold-backed ruble system. Could this not be one of the core reason that Putin is the enemy of Western elites?

Now you may say – “this is a speech from 2011, and nothing has happened.” It is worthy of consideration that the last world leader who posited such a thought – Muammar Gaddafi – was stopped dead in his tracks before he could replace the dollar with the gold-backed dinar.

Similarly, in 2014, the US instigated a government coup in the Ukraine. Hunter Biden, Jo Biden’s son, now sits on the board of Ukraine’s largest gas producing company (Burisma), ensuring that transactions are unlikely to ever take place using the ruble (see 0.55 of the speech.)