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?”
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