Wednesday, November 13, 2013

Dollar on Brink of Collapse?

(Moscow, Russia)
Warning that the U.S. dollar is on the brink of collapse, a State Duma lawmaker has submitted legislation to ban dollar deposits and transactions at Russian banks.

Mikhail Degtyarev of the Liberal Democratic Party said the dollar will collapse in 2017 if the U.S. national debt continues to grow at the current rate, and he cautioned that countries with a high dependence on the currency would suffer an economic disaster.
If the legislation is enacted, the ban on dollars would be imposed within a year.

1 comment:

Doom said...

That might shield a bit, but more in buying some time to... look at options. If what he is saying is true, and I don't doubt it... I'm actually surprised it hasn't happened yet... the collapse will be world wide and complete.

A lot of people suggest that Africans, already used to poverty, won't be affected. Truth is, Africa will become Somalia without regulated food shipments and other assistance. At least modernized nations have some of what it would take to rebuild. Starting from scratch will hurt though. Sting it will.

2017 he thinks? Damned optimists. I gave up hating people, but I can laugh.


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