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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRussian lawmaker wants to outlaw U.S. dollar, calls it a Ponzi scheme.
Moscow - Predicting the imminent collapse of the U.S. dollar, a Russian lawmaker submitted a bill to his countrys parliament Wednesday that would ban the use or possession of the American currency.
Mikhail Degtyarev, the lawmaker who proposed the bill, compared the dollar to a Ponzi scheme. He warned that the government would have to bail out Russians holding the U.S. currency if it collapses.
If the U.S. national debt continues to grow, the collapse of the dollar system will take place in 2017, said Mr. Degtyarev, a member of the nationalist Liberal Democrat Party who lost in Moscows recent mayoral election.
The countries that will suffer the most will be those that have failed to wean themselves off their dependence on the dollar in time. In light of this, the fact that confidence in the dollar is growing among Russian citizens is extremely dangerous.
Read more: http://www.washingtontimes.com/news/2013/nov/13/bill-would-outlaw-us-dollar-russia/#ixzz2lbSuXTVp
Wednesday referred to is Wednesday, November 13.
Jackpine Radical
(45,274 posts)JimboBillyBubbaBob
(1,389 posts)exactly.
AverageJoe90
(10,745 posts)655351
(8 posts)I think it is long over due that the international community outlaws the United States dollar thus relegating it to trashcan of history; and while we're at it I'd like to see them outlaw the Euro, Yen, and every other national currency.
Its time we scrapped national sovereignty of all nations and moved to an international government with an international currency!
A HERETIC I AM
(24,367 posts)Welcome to DU.
TYY