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Glazyev: the Union versus the dollar will stop U.S. aggression
Material posted: Publication date: 20-06-2014

Advisor to the President of Russia Sergey Glazyev was among the first who openly expressed the need to start dumping U.S. government bonds and gradually abandon the dollar in settlements with key trading partners.

These actions became the answer of Russia on the introduction of U.S. and EU sanctions. This strategy contributed to the fact that Washington has still not decided on further expansion of sanctions, as well as the growth of the surplus of the current account to $35 billion.

In addition, Glazyev their statements contributed to the rapprochement between Moscow and Beijing, which signed an unprecedented natural gas agreement.

In his article, published by the edition "Arguments of week", Glazyev to set its own regular plan for "undermining the economic strength of the United States" to stop civil war in Ukraine.

"Endlessly assuring the Russian President's commitment to peace and calling for an end to violence, the U.S. government and the EU has consistently supported the strengthening of the Ukrainian military terror against the population of Donbass", - says Glaziev. In his view, the only way to get the US to abandon their views is to start a new cold war that will undermine the stability "of the dollar system".

In his article, Glazyev notes that the US seeks to provoke Russia into intervention, using the "junta" as bait. Moreover, if the ultimate goal can be achieved, Washington will receive a number of advantages:

The advantages of the U.S. in case of military operation of Russia in Ukraine:

  1. The prosecution in Russia of aggression allows financial sanctions to be introduced for the purpose of freezing (write-off) of American commitments to Russian entities in the amount of several hundred billion dollars to relieve exorbitant debt burden of the USA.
  2. Freezing Russian assets in dollars and Euro entails inability of their owners to service their obligations mainly before the European banks, will create the last serious difficulties that could lead to bankruptcy of some of them. Destabilization of the European banking system will stimulate the outflow of capital in the United States to maintain dollar pyramid their debt obligations.
  3. Sanctions against Russia will undermine the EU amounting to about a trillion euros, which would worsen an already poor condition of the European economy will weaken its position in the competitive struggle with the US.
  4. Sanctions against Russia facilitate the displacement of the European market for Russian gas with the purpose of substitution of U.S. shale. The same applies to Eastern European multi-billion dollar market of fuel elements for nuclear power plants, which technologically is focused on supplies from Russia.
  5. The involvement of European countries in war with Russia will increase their political dependency on the U.S. that will facilitate the task of imposing the EU free trade zone on favorable U.S. conditions.
  6. The war in Europe gives reason to increase military spending in the interests of the military-industrial complex of the USA.

"The United States itself from them wage a new war in Europe almost nothing to lose. Unlike European countries, with Russia they trade a little, and their markets almost do not depend on Russian supplies. As in other European wars, they will be in a clean win," - said the presidential adviser.

He estimated that tremendous losses of the European economy will make the U.S. the only "safe haven" in the world. That is why the EU will be interested in creating a wide "antidollarovye" coalition of countries. Glazyev believes that Russia's participation in the creation of this Union is a key countermeasure against the strengthening of U.S. positions. Moreover, the President's Advisor predicts that after the establishment of monetary Union, the formation of a broad anti-war coalition.

Countries participating in the coalition must stop using the dollar in mutual settlements, as well as from the use of securities denominated in U.S. dollars, when placing foreign exchange reserves. In addition, dollar-denominated instruments evaluated as highly risky, in case of their use, regulators should require maximum redundancy.

A key role in creating the coalition, the eye takes European businesses who will be forced to increase its influence on the political leadership of the countries, as U.S. actions aimed at unleashing a new war in Europe, threatening its prospects.

Tags: Russia , USA , crisis , finances , Ukraina


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