Russia May Scrap Ruble for New Customs Union Currency

Russia May Scrap Ruble for New Customs Union Currency

(I'm posting this here because the article talks about the USD, and because this would directly effect the US and the rest of the world, mods feel free to move this if you deem it necessary)

Russia may scrap the ruble and introduce a common currency with Belarus and Kazakhstan as the nations broaden their alliance and seek to reduce their dependence on the dollar, a first deputy prime minister said.

Russia and two former Soviet neighbors plan to create a single economic market by 2012 after their customs union took effect on Jan. 1. A new currency is “the next logical step” after economic union, Shuvalov said without giving a timeframe.

Russia has sought to promote regional currencies in trade and diversify its reserves, the world’s third-largest stockpile, to reduce risks posed by the dominance of the dollar. President Dmitry Medvedev last year questioned the dollar’s future as a reserve currency and called for a mix of regional currencies to make the world economy more stable. He said a new supranational currency could reduce vulnerability to movements in the dollar.

Read the full article here

I don't blame Russia for wanting to get away from the USD, in fact I applaud them for questioning where the USD is going to be in the up coming years. We all know the USD is not reliable anymore, and it hasn't been for a while, only time will tell before it is rendered useless. Our money is not backed up by anything and hasn't been since the 1930's.

I wonder if any other countries will join Russia in making this new currency other than the ones mentioned in the article. They mention 2012 so I guess we'll see what comes out of this sooner or later, as well I'm sure we will hear more information about this as time goes by.

This is good news. I think we need something that will create resistance to the global power of the dollar.

S/F

reply to post by Misoir


I agree, but like I was wondering, who else will involve themselves with Russia and their plans for a new currency? Technically, couldn't this turn out to be something very big if enough people join in and decide to change to this new currency?

I hate the USD, so I really wouldn't care if we had to use a new currency here in the US, or whatever the US will become once the economy has completely collapsed.

I just don't want to see a one world currency, not only because that means the NWO has gotten further with their plans, but because there needs to be some competition between currencies which show how different economies are doing. If there is only one currency, we can look at how it's doing and see the worlds economy, but if you look at all the currencies around the world right now you can see how each economy is doing. Although I guess looking at how much the USD (or any currency) is worth compared to another, it really doesn't show how well the economy is doing in reality. The USD is still the main currency throughout the world, and yet it is backed up by NOTHING, and is literally only worth what the paper is worth that it's printed on.

reply to post by highlyoriginal


It might actually spread through the whole
Organization of Independent States and possibly Shanghai Cooperation Organization

en.wikipedia.org...
en.wikipedia.org...