Fearing its collapse in 2017, Russian proposes ban on US dollar

The threat of dollar value collapse because of increasing US debt is being used to justify a bill submitted to the legislature in Russia to ban many US dollar transactions:

November 15, 2013 – MOSCOW – To protect Russians against the “collapsing US debt pyramid”, a Russian legislator has filed a draft bill to ban circulation of the currency in Russia. Once a Moscow mayoral hopeful, Mikhail Degtyarev, 32, likens the US dollar to a worldwide ponzi scheme which he says is scheduled to end in 2017. “If US national debt continues to grow at its current rate, the dollar system will collapse in 2017,” the submitted draft legislation says. “In light of this, the fact that confidence in the US dollar is growing among Russian citizens is extremely dangerous,” Degtyarev wrote in his explanatory note attached to the bill. The bill would impose a ban on dollars within a year of its passage, and any private citizen holding accounts in dollars would either need to spend the money or convert it to another currency. There is no proposed ban on the euro, British pound, yen, or yuan. If one doesn’t exchange or transfer dollars within a year, the dollars will be seized by officials, and reimbursed in rubles within 30 calendar days. Under the proposed legislation, Russians would still be able to use dollars abroad and have foreign bank accounts, as well as buy goods on the Internet in dollars. The Russian government, Central Bank, Foreign Ministry, Federal Treasury, Federal Security Service, and other state branches would be exempt from the law. http://rt.com/business/russian-lawmaker-dollar-ban-663/

Various leaders in Russia have pushed for the end of the US dollar as the world’s reserve currency. As far as 2017 goes, we put together a video sermon a few months ago titled The Great Tribulation Will Not Begin Before 2017. So, though I do not believe a total collapse of the USA dollar can happen before 2017, 2017 is a possible (not yet certain) year as details are presented in that sermon as to why.

While I do not believe that Russia is currently in a position to ban all US dollar holdings and transactions (and the proposal seems to recognize that), even introducing this proposal may send a signal to other governments to consider the truth about the USA dollar.

Which is?

The USA has been unable to function for the entire 21st century without increasing its debt each year. The federal government of the USA spends significantly more than it takes in. The USA imports more than it exports. On top of all of that, the US Federal Reserve just prints up an extra USD$85 billion per month, in a program called ‘quantitative easing’ (which is essentially a ‘legal’ form of counterfeiting). And its designated new chairman has said that she will continue to do so after she is is (see Fed’s Yellen again signals her commitment to inflating US currency).

Quantitative easing and debt increases are a form of “dishonest profits” that the U.S.A. is improperly reaping because of its position in the world, but that is not good, and will not last indefinitely:

13 “Behold, therefore, I beat My fists at the dishonest profit which you have made, and at the bloodshed which has been in your midst. 14 Can your heart endure, or can your hands remain strong, in the days when I shall deal with you? I, the Lord, have spoken, and will do it. 15 I will scatter you among the nations, disperse you throughout the countries, and remove your filthiness completely from you. 16 You shall defile yourself in the sight of the nations; then you shall know that I am the Lord. (Ezekiel 22:13-16)

US debt, combined with programs such as the Federal Reserves’ quantitative easing, are sending signals to the rest of the world that the US dollar needs to be replaced as the world’s primary reserve currency. And the legislator in Russia is not the only one who has noticed this.

The Bible itself is clear that the time will come when foreign creditors will rise up against a highly indebted nation in the end times:

3 For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry…5 Indeed, because he transgresses by wine, He is a proud man… 6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his–how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you. Because of men’s blood And the violence of the land and the city, And of all who dwell in it. (Habakkuk 2:3,5,6-8).

The above prophecy will be fulfilled at the time of the end (cf. “The message was true, but the appointed time was long…in the latter days, for the vision refers to many days yet to come,” Daniel 10:1,14). Daniel 8:19, 11:27,29,35 use same the Hebrew term for “appointed time” as Habakkuk 2:3, while Daniel 10, using a different term, ties the latter days to the time in Daniel 8:19. Habakkuk 2 was not fulfilled in its entirety anciently. Also, it makes little sense that Habakkuk would be directed towards the modern nation of Israel as it does not have enemy creditors. It must be a nation or group of nations with some prominence at the appointed time of the end. As far as “violence of the land” as a contributing factor, this would seem to include crime, military missions, and perhaps riots/civil unrest, but might it also include promotion of violent sports?

The USA is the most indebted nation in the history of humankind, Habbakuk 2:6-8 will be fulfilled, and the USA will be destroyed.

Various sins and increasing debt are weakening the USA in many ways, including militarily.

Without national repentance the USA is doomed. Since the USA seems to be going more into sin nationally, that type of national repentance seems unlikely. Yet, personal repentance is still possible.

Various ones see what some of what is going on with the economic position of the USA. Do you?

Some items of possibly related interest may include:

Will the Anglo-Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2021 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?
Will USA Spying Help the Beast Power? Various allegations have surfaced about the United States government spying on its own citizens as well as its supposed allies in the European Union. Whether or not all the espionage allegations are true, and the main ones have not been publicly denied by the government of the USA, the reality is that this does have prophetic ramifications and will help the Beast of Revelation. This video provides quotes from the Bible showing how this is so. The USA is placing itself in a position to be taken over and its response to the allegations will make it easier for the Europeans to do so.
Why Were You Born? Why did God make you? Herbert W. Armstrong wrote this as a booklet on this important subject. You may also wish to read the article What is Your Destiny? or watch the video, also titled What is Your Destiny?
What is the Meaning of Life? Who does God say is happy? What is your ultimate destiny? Do you really know? Does God actually have a plan for YOU personally? There is also a video titled What is the meaning of your life?
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
When Will the Great Tribulation Begin? 2013, 2014, or 2015? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2013 o 2014? ¿Es el Tiempo de los Gentiles? You can also see the English language video The Great Tribulation Will Not Begin Before 2017.
Russia: Its Origins and Prophesied Future Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Is one being formed right now? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? If some type of Eurasian union is formed, who might it benefit and who will it destroy? A related video would be Is The Eurasian Union Rising?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? Here is a link to a video titled: The Future King of the North.
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.