Russian Lawmaker Moves to Ban US Dollar; Calls it a 'Ponzi Scheme' - Polidicks

[url="http://www.washingtontimes.com/news/2013/nov/13/bill-would-outlaw-us-dollar-russia/"]Washington Times[/url] [url="http://www.moneynews.com/Economy/DegtyarevRussia-ban-dollar/2013/11/14/id/536638"]Money News[/url] [url="http://voiceofrussia.com/us/2013_11_14/Duma-lawmaker-calls-for-ban-on-US-currency-in-Russia-0402/"]Voice of Russia[/url] [url="http://www.examiner.com/article/lawmaker-russia-wants-ban-on-u-s-dollar"]Examiner[/url] [url="http://rt.com/business/russian-lawmaker-dollar-ban-663/"]RT[/url] [img]http://cdn.ruvr.ru/2013/11/14/1199353702/7buck_in_Moscow.jpg[/img] [quote]MOSCOW — Predicting the imminent collapse of the U.S. dollar, a Russian lawmaker submitted a bill to his country’s 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 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 bill would partially revive a Soviet-era ban on the dollar. It would prohibit Russians from holding dollars in the country’s banks, and banks would be unable to carry out transactions in the dollar. [/quote] I don't take economics, but this would be bad right?

*Nudge Nudge Wink Wink* "We are gonna ban a currency sergei good idea no?" Yes, i think it would be very bad.

Remove Dollar Ruble master race :v:

Not going to pass, even with the nationalists in parliament. Technically the US capitalist system is a pyramid scheme though.

It can only end with war & chaos. Dark times are near, be ready.

[QUOTE=Tengil;42874054]It can only end with war. Dark times are near, be ready.[/QUOTE] Sorry Bro, this isn't Call of Duty.

They are not wrong though.

[QUOTE=Starpluck;42873558]Not going to pass, even with the nationalists in parliament. Technically the US capitalist system is a pyramid scheme though.[/QUOTE] Is this a critique of capitalism in general or of the United States economic policies?

Not sure why he says the currency will collapse because of debt. Why would he choose 2017 for the date?

[QUOTE=KennyAwsum;42874079]Sorry Bro, this isn't Call of Duty.[/QUOTE] you don't understand, winter is coming: [url]http://facepunch.com/showthread.php?t=1325367&p=42874054&highlight=#post42874054[/url] [url]http://facepunch.com/showthread.php?t=1324067&p=42842562&highlight=#post42842562[/url] [url]http://facepunch.com/showthread.php?t=1323373&p=42821262&highlight=#post42821262[/url] [url]http://facepunch.com/showthread.php?t=1320764&p=42725537&highlight=#post42725537[/url] [url]http://facepunch.com/showthread.php?t=1319725&p=42687230&highlight=#post42687230[/url] [url]http://facepunch.com/showthread.php?t=1316083&p=42556716&highlight=#post42556716[/url]

Good luck, tovarich Degtyarev.

[QUOTE=smurfy;42874291]you don't understand, winter is coming: [url]http://facepunch.com/showthread.php?t=1325367&p=42874054&highlight=#post42874054[/url] [url]http://facepunch.com/showthread.php?t=1324067&p=42842562&highlight=#post42842562[/url] [url]http://facepunch.com/showthread.php?t=1323373&p=42821262&highlight=#post42821262[/url] [url]http://facepunch.com/showthread.php?t=1320764&p=42725537&highlight=#post42725537[/url] [url]http://facepunch.com/showthread.php?t=1319725&p=42687230&highlight=#post42687230[/url] [url]http://facepunch.com/showthread.php?t=1316083&p=42556716&highlight=#post42556716[/url][/QUOTE] [I]and so am i[/I] :q:

[QUOTE=smurfy;42874291]you don't understand, winter is coming.[/QUOTE] Still sounds like a Megalomaniac from a Call Of Duty Game. Now there has to be some sort of convoluted arbitrary motive and we are set!

[QUOTE=smurfy;42874291]you don't understand, winter is coming: [url]http://facepunch.com/showthread.php?t=1325367&p=42874054&highlight=#post42874054[/url] [url]http://facepunch.com/showthread.php?t=1324067&p=42842562&highlight=#post42842562[/url] [url]http://facepunch.com/showthread.php?t=1323373&p=42821262&highlight=#post42821262[/url] [url]http://facepunch.com/showthread.php?t=1320764&p=42725537&highlight=#post42725537[/url] [url]http://facepunch.com/showthread.php?t=1319725&p=42687230&highlight=#post42687230[/url] [url]http://facepunch.com/showthread.php?t=1316083&p=42556716&highlight=#post42556716[/url][/QUOTE] i am not sure what to find more ridiculous, some random dude spouting omens or you stalking said random dude

I don't know what I find more ridiculous, the fact that this guy is trying to get the dollar banned, or the fact that the value of our dollar comes from other countries.

You can ban it, but since the US tends to dictate markets. If we collapse we are bringing down everyone down with us. Regardless of what currency you are using.

Usually when regimes ban currencies, it's because the population doesn't trust the official currency enough.

[QUOTE=Explosions;42874239]Not sure why he says the currency will collapse because of debt. Why would he choose 2017 for the date?[/QUOTE] With the U.S. Dollar being the international trade currency, its collapse is theoretically not possible because it is not only a currency but also a commodity that is purchased (or truly, exchanged) by other nations, allocating international buying power to those nations. This is the reason why the U.S. Dollar does not inflate as easily as foreign currencies, as well.

[QUOTE=Zonesylvania;42873549]Remove Dollar Ruble master race :v:[/QUOTE] Get out of here Stalker?

[QUOTE=DeEz;42874694]i am not sure what to find more ridiculous, some random dude spouting omens or you stalking said random dude[/QUOTE]It's not exactly hard to do a search of a person's posts.

Looks like Mikhail is storing his totally legal money in Euros.

well to be fair, the US didn't fix the issue that caused the crisis, it simply postponed it. [url]http://www.moneynews.com/FinanceNews/Paulson-crisis-financial-Fed/2013/09/13/id/525579[/url] russian dude is probably doing this because he is a dick who wants to score with nationalists, but he may be right anyway.

i'd like to bid 50 rubles on this man's job

[QUOTE=Alec W;42879037]i'd like to bid 50 rubles on this man's job[/QUOTE] [img]http://puu.sh/5jFZz.png[/img] Jesus that's a high bid for such a shitty job

[QUOTE=DeEz;42874694]i am not sure what to find more ridiculous, some random dude spouting omens or you stalking said random dude[/QUOTE] You do realize he's referencing a rather popular book, right?

[QUOTE=Kyle902;42879478]You do realize he's referencing a rather popular book, right?[/QUOTE] It just hit me, im so dumb.

[QUOTE=Kyle902;42879478]You do realize he's referencing a rather popular book, right?[/QUOTE] I thought he was just a gimmick. At first I thought he was a nut, but he's done this and only this for so long.

Everything I read about my country is all doom and gloom. Seems like this is more wishful thinking than actually being based in reality. The U.S. markets are doing really well and my country has more billionaires than both China and Russia combined.

[QUOTE=LoneWolf_Recon;42875003]Get out of here Stalker?[/QUOTE]no, remove dollar from the premises [img]http://files.1337upload.net/removedollar.png[/img]

[QUOTE=Starpluck;42873558]Not going to pass, even with the nationalists in parliament. Technically the US capitalist system is a pyramid scheme though.[/QUOTE] Well, not to mention there's hardly any of them in the Duma to begin with. Less than 15% of the seats are taken up by this party and as far as I know they don't really have any support from the others.