‘Russia’s Putin declares an end to Western currencies, says world moving towards “real reserves” including “land, food, gold”’
Emblem of the Eurasian Economic Union
While the West continues to push sanctions against Russia (and some other lands) the President of Russia has been taking steps to counter that form of economic warfare. Notice the following:
Russia’s Putin declares an end to Western currencies, says world moving towards “real reserves” including “land, food, gold”
March 30, 2022
Russian President Vladimir Putin is predicting that the world will move away from the U.S.-dominated financial system after Washington, along with Western governments, seized his country’s currency assets as part of their sanctions for invading Ukraine.
In a video posted to social media, Putin blasted the “theft” of Moscow’s resources and mocked the notion that first-world currency reserve holders are “reliable.”
“Let me reiterate, the whole global economy and trade have suffered a major blow, as did the trust in the U.S. dollar as the main reserve currency” of the world, the Russian leader says in a translated clip.
“The illegitimate freezing of some of the currency reserves of the Bank of Russia marks the end of the reliability of so-called first-class assets,” he added. “In fact, the U.S. and EU have defaulted on their obligations to Russia. Now everybody knows that financial reserves can simply be stolen.”
He added: “And many countries in the immediate future may begin — I am sure this is what will happen — to convert their paper and digital assets into raw reserves of raw materials” such as “land, food, gold, and other real assets.”
Astute economic analysts foresee a world coming soon which will once again be dominated by hard currencies like gold and silver, as well as other precious metals, in addition to physical assets like land and food because paper fiat currencies and ‘virtual’ currencies like bitcoin are not just increasingly unreliable, they can be — as Putin said — simply stolen from the owner as if they never really belonged to someone else. https://www.dcclothesline.com/2022/03/30/russias-putin-declares-an-end-to-western-currencies-says-world-moving-towards-real-reserves-including-land-food-gold/
While there will be a European-supported currency, there are costs to sanctions.
Now most of the article above was translated from Russian. A couple of weeks ago, a reader sent me the following link: https://www.novosti.rs/planeta/svet/1096374/rusija-zapad-kina-valutni-sistem, which he suggested I machine-translate it into English from Russian. So, here are some machine translated excerpts:
EASTERN ANSWER TO THE WEST AND THE DOLLAR: The Eurasian Economic Union and China are preparing an independent international monetary system
March 14, 2022
The participants in the economic dialogue “New stage of monetary-financial and economic cooperation between the Eurasian Economic Union and China” agreed on that. Global Transformations: Challenges and Solutions “, which was held on March 11 in the form of a video conference.
The system is expected to be based on the new international currency, which will rely on the index of national currencies of member states and the price of goods on stock exchanges.
The first project will be considered by the end of March.
As the Minister for Integration and Macroeconomics of the Eurasian Economic Commission, Sergei Glazyev, underlined, China was the first in the world to move to the stage of recovery of the national economy.
As long-term readers of this COGwriter Church of God News page are aware, I have warned for years that USA sanctions were pushing nations away from the USA dollar as the world’s reserve currency. There are many unintended consequences of sanctions.
Vladimir Putin was the architect of the Eurasian Economic Union. And he wants to not have to rely on USA dollars–though for a time he also realizes he needs to use them.
Jim Rickards posted the following related to Russia and sanctions:
March 28, 2022
Russia’s invasion is the end result of 14 years of provocation by the West, including repeated declarations that Ukraine will join NATO and a U.S.-backed coup d’état in 2014 that displaced a pro-Russian president.
Russia never planned a blitzkrieg on Kyiv. That’s a Western invention intended to make Putin look like a failure. In fact, Russia is slowly and methodically taking territory in the south and east of Ukraine in order to control the seacoasts, eliminate pro-fascist …
So what about the economic sanctions? Are they working?
The Most Severe Sanctions in History
Payments in and out of Russia have been blocked. The Central Bank of Russia has been banned from the global dollar payments systems. The same is true for the 10 largest Russian banks and a long list of oligarchs and Russian government officials.
Accounts of Russian targets in Western banks have been frozen. Exports of critical technology and high-tech equipment to Russia have been banned. U.S. and European airspace has been closed to Russian airlines.
Secondary sanctions have been imposed so that if another nation like China sells goods to Russia made with U.S. technology or machines, that nation will be punished also. The list goes on.
Economic sanctions of these kinds sound powerful when they’re announced and do have some impact. But in the long run they never work. …
Putin has proved to be a master chess player as he runs rings around the sanctions.
When the U.S. imposed sanctions on Russian banks, the value of the ruble collapsed. Still, oil and natural gas exports from Russia were allowed because Europe is dependent on them and the world is facing an energy shortage independent of the war in Ukraine.
Oil and natural gas are paid for in dollars. In a masterpiece of judo, Putin is now demanding that Russian oil and natural gas bought by states imposing sanctions be paid for in rubles. This mystified many. If Russia needs dollars (they do), why be paid in rubles?
The answer is that the only way for Europe to get rubles quickly is to buy them from the Central Bank of Russia using dollars. Under Putin’s plan, Russia still gets the dollars, still sells oil and natural gas but he has the added benefit of making rubles stronger because Europe has to buy them to pay for the energy exports.
Cutting off Russian exports of oil and natural gas is pointless because Russia will just sell the same energy to China and India.
Sanctions ultimately harm everyday citizens and consumers most. Inflation is surging in Russia and the United States because of the sanctions. But the pain on the American people has only begun. It’s about to get much worse.
U.S. consumers and investors will suffer as prices soar, growth lags and stocks collapse.
This is all unpleasant news for Western warmongers. … the war in Ukraine will last longer than most expect, will produce supply chain disruptions and will amplify the inflation that’s already present.
In the end, Putin will prevail in Ukraine, while the Ukrainian people and Western consumers will pay the heaviest price. https://dailyreckoning.com/rickards-ive-never-heard-so-many-lies/
It should be pointed out that the Europeans do not want to pay in rubles, so we will see how this will play out. But the reality is that sanctions have a cost.
Furthermore, understand that the Bible tells of a final time of the Gentiles (Luke 21:24), this will be a new world order where the American and British peoples will no longer lead.
The political reality is that both the Trump and Biden Administrations have imposed economic sanctions. This is leading many nations to try to get around them as well as USA dollar influence.
Related to the Biden-Harris Administration, notice some information from my book Biden-Harris: Prophecies and Destruction:
It has been proposed that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance” (Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016)
When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer.
The collapse of the U.S.A. dollar will shake a lot of the world’s confidence in non-gold backed currencies.
The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the U.S.A. dollar.
Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.
The debt accumulation policies of the Obama-Biden and the Trump-Pence Administrations, which were a massive acceleration of the previous policies of the Bush Administration, look like they will be continued by a Biden-Harris Administration.
The increases in America’s debt are heading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.
A Biden-Harris Administration would need to make massive changes to possibly prevent this.
The U.S.A. and its dollar are at serious risk.
Though he knocked the Euro, Vladimir Putin has basically called for something that I warned about in my book.
More and more nations will realize that hard assets are real and USA dollars are not. This will not end well for the USA.
Instead of taking steps to help its dollar, the USA continues to push sanctions as well as increase its debt (e.g. see‘Biden pitches largest tax hike in history as part of $5.8T budget request’)–which is something that will ultimately end in destruction per Habakkuk 2:6-8.
Hard assets will, for a time, have value when the USA dollar no longer does.
As Jesus said: “And what I say to you, I say to all: Watch!” (Mark 13:37).
Some items of possibly related interest may include:
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold? A video of related interest may be: Germany, Gold, and the US Dollar.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
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? A related sermon is also available: The Bible, the USA, and the King of the West.
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?
Russia and Ukraine: Their Origins and Prophesied Future Russia in prophecy. 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? There is also a video sermon available: Russia in the Bible and in Prophecy as are two video sermonettes Russia, Ukraine, Babylonian Europe, and Prophecy and Ukraine in Prophecy?
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?
Ezekiel 38: For Russia & Iran in Our Day? Is Ezekiel 38 about to be fulfilled? Are we close to the battle with Gog and Magog? Four related videos are available: Ezekiel 38 Gog and Magog War: Is it Soon?, Ezekiel 38: For Russia, Ukraine, & Iran Now?, Russia, Iran, Syria, & the Bible (Code), and Gog, Magog, Vladimir Putin, and Ezekiel 38?
Europa, the Beast, and the Book of Revelation discusses the largest church since the second/third century, which in a real sense is the eighth church mentioned in the Book of Revelation (it also endorses “eighth day” worship). What church would support the Beast? Here is a link to a video titled: Europe and the ‘Holy Roman Empire’.
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? Here is a link to a related sermon: Asia in Prophecy. Two YouTube video are Is China THE Threat to the United States of America? and China: A King of the East.
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
Biden-Harris: Prophecies and Destruction Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details. A Kindle version is also available 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 your free Kindle reader app (or if you already have one or a Kindle), you can go to: Biden-Harris: Prophecies and Destruction (Kindle) to get the book in seconds.
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