MEDVEDEV: IN THE WAKE OF SANCTIONS, REGIONAL RESERVE CURRENCIES By for Giza Death Star
GNN Note – If you don’t think currency is an end-times situation, wait until you are so broke you won’t have the strength to fight back. Yeah, that broke. / END
Russia, in case you haven’t noticed, has been playing hardball with the west’s sanctions and its attempts at “regime change.” Well, as I’ve said many times, those kinds of games are games that two can play, and Russia’s response to the sanctions game has been something that, in my opinion, Mr. Globaloney perhaps wasn’t banking on, namely, “ok, if you’re going to freeze all of our foreign assets, we’re going to make you pay for our oil and gas in rubles. Or gold. We’ll take either.” They followed up on those “announcements” with removing the value added tax on gold and putting a floor on it. Et voila! the ruble regain most of its lost value and all of a sudden Europe was forced into making a choice: continue to by energy from Russia (in rubles), or from America, which has proven it can and will weaponize the dollar, and hence reveal its increasing untrustworthiness as a reserve currency.
There is of course, more to this than meets the eye, but I talked about that at length in the first quarter wrapup with Catherine Austin Fitts.
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The lesson from all of this is, if you want someone to play the role of victim, don’t hire Russia.
What I want to talk about now is one of the potential fallouts and implications from all of this in an article shared by M.D. (with our thanks), because for some time one of the things I’ve been predicting might happen as the Empire of Lies unwinds and its dollar goes the way of the Venetian ducat (another empire of lies), is the rise of regional reserve currencies, and an entirely new paradigm in world finance, that of two or more reserve currencies at the same time. The closest parallel we’ve seen in modern times was the post-World War One system of sterling and dollars, but now we could see a multi-polar system, and none other than former Russian president and prime minister Dmitri Medvedev is saying this openly:
Meet the New, Resource-Based Global Reserve Currency
There’s much to note in this article, but I want to focus on two things. Firstly, Medvedev is an “atlanticist”, i.e., one of those Russians who believe Russia’s future lies with closer integration with the Atlantic powers, i.e., the “West,” and thus he is decidedly not a Eurasianist. Yet, even for Medvedev, the handwriting is on the wall: the west has cut its own throat (sanctions), backed the wrong horse (the Ukraine) and has created such mistrust in its reserve currency (the dollar) that a complete realignment is not only needed but, over the next several years, will be the inevitable result as new regional reserve currencies will emerge:
