Russia Dumps Dollar as Reserve Currency - Adopts Euro → Washingtons Blog
Russia Dumps Dollar as Reserve Currency - Adopts Euro - Washingtons Blog

Wednesday, May 20, 2009

Russia Dumps Dollar as Reserve Currency - Adopts Euro

Pravda wrote yesterday:

The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.

The dollar has thus lost the status of the basic reserve currency for the Russian Central Bank, the annual report, which the bank provided to the State Duma, said...

The change of the structure of the currency portfolio of the Bank of Russia has not affected the official peg of the dual currency basket, which includes $0.55 and 0.45 EUR.


  1. I see a very bankrupt USA if thats the tend your talking about

  2. this is it, folks!! once the whole world unpegs itself from the worthless dollar, it's over with here. stagflation the likes you only saw in the Weimar Republic. For you right wing mouth breathers, google that, but spell it right or you won't get the answer.

    here we go!!! wheeeeeeeeeeeee!!!!!!! *flush*

  3. Long positions on canned goods, ammo and Krugerrands folks. This is not going to end well.

    Fred in Boston.

  4. the Obombaton is considering 'preventive detention' of suspected terrorists within the U.S. now. We are beginning to implode faster than I thought. Ladies and Gentlemen of the blogosphere, I wish you all the best of luck, and the best fight against the tyranny! We are very very very over now, at least our nation is. It was a pleasure to blog with you all.

  5. hey Amerikkka Israhell ain't DONE with you YET!

  6. I shall miss the dollar for sentimental reasons when it soon becomes as worthless as a Zimbabwe dollar. It's been brought down by utter greed, haemorrhaging of the once proud and giant economy by endless wars, and a parasitical spawn (leave you to guess that one).

    And what have the Chinese and Russians done while our be-medalled generals egged on by draft dodger politicians plan out new and novel ways of killing more non-white people for objectives they themselves no longer are sure about? Why, of course, the Russians and Chinese have done deals with the brown and the black people to tap into their resources without having to kill any of them. Now, who are the smart ones?

  7. To the Webmaster: Do you have some sort of pathological aversion to letting your readers copy/paste/save the actual TITLE of articles featured on your site??

    Or perhaps you are so enthralled at seeing your web name "up in lights" in the subject/title box that you can't conceive that others would prefer seeing the ACTUAL SUBJECT MATTER there so that a saved item can later be retrieved or categorized per normal??

    Speaking of "normal" surely you realize that nearly every other news site or blog is more considerate and user friendly than your own, in that they do not make their loyal readers jump through hoops and extra effort to get around the egotistical roadblocks of an ignorant webmaster who thinks pissing people off is the way to promote popularity or respect??

    If a reader tries to highlight the actual title, a purposeful design feature blocks such an attempt by deflecting the highlight into the entire article in such a way as to defeat the legitimate and normal intent of the reader. WHY???

    Please share with me the "reason" for your policy; perhaps I and all the other readers are missing something important that has led you to anger a significant portion of your readers.


  8. This is it people. Stick a fork in it, we are done.

    Stock up on non perishable foods, water, medical supplies, weapons of all sorts, get yourself in the best health you can as fast as you can, seek out other like minded patriots, but quietly please. We are about to withness hyperinflation. Buy gold if you can afford it, or junk silver if possible. Refuse their dangerous vacciens and learn about alternate medical care such as herbal medicines and old folk remadies.

    Above all do not let anyone displace you out of your dwelling, be it personally owned home, trailor home, apt, whatever. The only ticket is most likely a one way trip to a detention/death/FEMA camp. I will never go.

  9. #2 mentioned something about "rightwing mouthbreathers",the only mouthbreathers that I know of are members of the UAW(whose knowledge of economics is stunning)and they just got their butts bailed out from the taxpayers.
    Fred in Boston nailed it:Gold,Guns,Groceries.

  10. Bye bye bucko. Time to really fire up the printing presses before the most blind catch on. Maybe the parasite will detach itself from us...we'll about out of blood.

  11. To Anonymous who criticized the layout and formatting of the site:

    I am not html savvy, and did not do anything to make the title hard to cut and paste (I am frustrated by the same difficulty) or to navigate the site (I don't like the navigability either). These are problems with's software.

    If you or anyone else with html skills can tell me how to make the site easier to navigate, I would be very grateful.

  12. Just a thought. I would say that the Western country that is in the best position (and I mean that relatively) is Australia. Every expert I have ever read is convinced that Canada is in a good position, but my belief is that no, Canada is probably in the WORST position of any other Western country. I have my reasons that we can't go into here, but it has to do with the fact that underneath it's shiny and well-functioning surface, Canada is a heavily subsidized society (especially the Prairie Provinces and especially Manitoba) that is leveraged to the health of the U.S.A. So when the U.S.A. recedes, the effect will be much stronger for Canada. Again, this is just a thought that needs to be discussed.

  13. Canada sells stuff to the USA. As oil rises, the Canadian $$ rises, it was well over $1 when oil was near $150/barrel.
    The oil and tar reserves assure Canada a vendors role for the next 300 years or so. Hopefully better sources will arrive before that, as another 300 years of oil burning will bring a hothouse earth.

  14. Aurizon: I'm not sure your argument is convincing. We're not exactly talking about light sweet crude here. Much of that oil/tar sand is not even extractable under any technology.


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