Russia to ban U.S. dollar?

If you have questioned the status of the United States on the world stage recently, this latest story out of Russia will leave you shaking your head. The Washington Times is now reporting that a Russian lawmaker submitted a bill to the Duma on Wednesday that would ban the use or possession of the U.S. dollar because he believes a crash of the American currency is imminent.

“I want you to know that this is crazy talk, and none of this is gonna happen, okay? Just don’t worry about it,” Glenn said sarcastically on radio this morning. “Because if you listen to anybody who says this is gonna happen, you’re a crazy prepper. Okay?”

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The Washington Times reports:

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 Moscow’s 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.”

The article goes on to say that this bill would “partially revive” the Soviet-era ban of the U.S. dollar.

“Hang on just a second. So what you’re saying is: Currency is a giant crap pile, but we’re the sink on top of the crap pile,” Glenn asked. “Okay. Well, I’m feeling good about that. How about you?”

Front page image courtesy of the AP

  • nutt

    “Russia to Ban US Dollar?” No – Russian lawmaker proposes bill in order to spook markets (and insecure idiots, it appears…)

  • snowleopard (cat folk gallery)

    Remember the economic terrorism attack we suffered?

    China is dispensing with the dollar and buying masses of gold, Russia is now doing the same. Anyone want to guess which country these two have interests in (arms and oil) in the gulf?

    Understand clearly, China and Russia, along with a number of smaller governments see their opportunity to damage or even collapse America. Obama is aiding them across the board.

    • nutt

      “China is dispensing with the dollar and buying masses of gold, Russia is now doing the same”

      Maybe they’ve been taking Glenn’s advice and clicking on the BUY GOLD links on this site…?

      • Taylor

        Yes, but we purchase while using US dollars, maintaining internal economic value. Gold isn’t the issue, it’s the fact that our dollars are being declared useless.
        The value of the dollar is an idea formed by supply and demand. Most understand that supply and demand of products drives their value…but the same holds for the currency itself. Demand of the dollar goes down, value is going down, yet we are still producing more.
        What would happen to a business that did this with a product? What, if anything, happens differently when it’s currency rather than a traditional product? Who would count as a shareholder/partner of the US currency? What happens to them (or us)?

    • Denis Abing

      We go down so will many other countries

    • Draxx

      We are still experiencing Economic Terrorism, it is just in the Shadows and on the down low…

    • Anonymous

      Gee. You think everyone here is stupid with the obvious guess who bit. Why don’t you point to facts that the world is out to get you???

  • Anonymous

    Russian financial analysts were largely critical of the bill, which they suggested was more about making political capital on the back of rising anti-U.S. sentiment in Russia than protecting the country’s economy.

    Read more:

  • Anonymous

    Good. They shouldn’t be reliant on our dollar. I have no problem with it.

  • David Johnson

    Hasn’t Black Monday back in the 80’s been traced back to USSR? Not saying their wrong about this one. Caused by Fed Reserve 24/7/365 printing presses this time.

  • Anonymous

    Yeah, sure. First, they will have to convince Russian people, who hoard the USD as much as they can. The other thing, in Russia, most monetary comparisons are based on the dollar as if it was Russia’s official currency.

  • Dan Arnold

    So,china and russia is now banning our currency,so,whats stopping them from invading us now? Nothing.

  • Anonymous

    I am wondering why the people selling gold are willing to trade the gold for US dollars if the dollar is going to collapse. If I had gold to sell and someone wanted me to trade my gold for useless dollars or potentially useless dollars, I would say NO WAY! Am I missing something?

  • Liberalism is Nonsense

    Since it is hard to see how instinct restraint enables civilization, the morals that restrain our primitive instincts tend to be despised.

  • Liberalism is Nonsense

    Patriots: It’s one if by land, two if by sea. Shine brighter:

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