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To be more precise they dumped their dollar holdings and Russia is now seriously considering yuan-backed bond, both of which I consider great news - only better will be if a country considers "bitcoin bonds" which will never happen anyway but less reliance on dollars is what the world needs.
To be more precise they are selling reserves to fund their budget.
To be more precise they are selling reserves to fund their budget.
And what were those reserves meant for other than to be spent when times are hard?
I have savings, reserves myself. Why do I have them? Because they look pretty? No, if something
bad were to happen I will have something to rely on monetarily at least and not end up a burden on others.
And what were those reserves meant for other than to be spent when times are hard?
I have savings, reserves myself. Why do I have them? Because they look pretty? No, if something
bad were to happen I will have something to rely on monetarily at least and not end up a burden on others.
I think what we'll soon see, is reinforced growing union between Russia and China, and their united drive to drop dollar as reserve currency.
I think what we'll soon see, is reinforced growing union between Russia and China, and their united drive to drop dollar as reserve currency.
Far more than that. China and Russia are building the greatest economic union in human history. India will be on board at a later date as well. I suspect some other BRIC countries and a lot of the nations of Oceania and SE Asia are going there too.
I think what we'll soon see, is reinforced growing union between Russia and China, and their united drive to drop dollar as reserve currency.
China pegs to the dollar and we are their largest trading partner by far. So unless they want to add more costs to their transactions, they will do no such thing. Nobody cares if Russia and their small economy wants to convert their dollars as they still get paid in dollars (or currency pegged to the dollar) for most of their exports whether they like it or not.
China pegs to the dollar and we are their largest trading partner by far. So unless they want to add more costs to their transactions, they will do no such thing. Nobody cares if Russia and their small economy wants to convert their dollars as they still get paid in dollars (or currency pegged to the dollar) for most of their exports whether they like it or not.
On what planet are you living, or better, where do you get your financial news and financial knowledge??
China and Russia have been working for years on trading with other nations with their national currencies.
Nothing prevents China to keep doing business with the US after floating the yuan and drastically reducing its dollar foreign reserve.
You do not seem to comprehend that an economic strategic alliance between China and Russia does not need dollars, they produce everything they need and then some more...not only that, they can start trading with other countries with a currency other than dollar
Dollar dependency is a problem for poor countries that need to import capital goods and often primary goods.
They're trying to change the constitution to where the acting president does not have as much power. Right now Putin has power over everything. One of the changes takes away his ability to appoint regional govenors placing that power in the hands of the Duma. The Duma also gets the responsibility of the economy going forward and legislative responsibilities concerning law and foreign policy. The president still retains control of the security forces and armed forces of the country.
There's a lot of other stuff besides the term limit law. A presidential candidate has to meet certain criteria. They have to be born in Russia, educated in Russian institutions and never lived abroad. They can only serve 12 years in a lifetime and must be older than 35. I hear this extends to regional govenors too.
They're trying to create a system where cooperation gets you access to the mechanisms of government.
Will Putin die in office? I don't know. I will bet anyone though that he is going to hand the reigns to someone else. When I don't know. We shall see.
They're trying to change the constitution to where the acting president does not have as much power. Right now Putin has power over everything. One of the changes takes away his ability to appoint regional govenors placing that power in the hands of the Duma.
Scrat, I SERIOUSLY don't comprehend all this mumbo-jumbo.
To me Duma is Putin and Putin is Duma.
Therefore I don't see the difference who appoints the governors in the regions. The only difference I would understand if governors would have been elected locally.
( I think it used to be this way.)
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The Duma also gets the responsibility of the economy going forward and legislative responsibilities concerning law and foreign policy. The president still retains control of the security forces and armed forces of the country.
Here it is again - and what is Duma?
Duma is Putin.
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There's a lot of other stuff besides the term limit law. A presidential candidate has to meet certain criteria. They have to be born in Russia, educated in Russian institutions and never lived abroad. They can only serve 12 years in a lifetime and must be older than 35. I hear this extends to regional governors too.
Oh I see. All this patriotic bru-ha-ha is directed towards the latest events in Ukraine I imagine - the foreign takeover of the government THERE.
Because the last Russian ruler "not being born in Russia" was Katherine the Great from what I remember rotflmao.
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They're trying to create a system where cooperation gets you access to the mechanisms of government.
"Cooperation" with who? What kind of "cooperation" are we talking about?
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Will Putin die in office? I don't know. I will bet anyone though that he is going to hand the reigns to someone else. When I don't know. We shall see.
I think we are heading to the chain of events faster than he will manage to die in the office.
The Covid is just the first one in the series of it, and may be even already not the first one.
( First one rather being Trump elected in the office instead of widely expected Hillary. )
Erasure. I'm kind of out of my depth with this but I see where you're coming from. Currently the Russian government is Putin.
They're trying to change that. Less responsibility for the president more for the representatives.
The more I think about it the more visions of the corrupt and inefficient system we have come into my head.
One leader supported by good people is better than a pack of self serving reptiles that get nothing done at all.
I suspect these reforms will not lead to better governance. It will be the opposite.
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All this patriotic bru-ha-ha is directed towards the latest events in Ukraine I imagine - the foreign takeover of the government THERE. 
