Remember the Fed. The tail dat wags the almighty US dog. Sanctions. Swift sanctions. Sanctions by SWIFT. Money sanctions swiftly sanctioned - SWIFT, the Fed's global sanction regime. Putin, being every intendedly friendly towards the USA and ever seeking "normal" diplomatic relations, gave ample WARNing to "our Western partners": US Sanctions Against Russia Are "A Colossal Strategic Mistake", Putin Warns https://www.zerohedge.com/news/2018-10-03/us-sanctions-against-russia-are-co... ISO_DATE:2018-10-04 As Russia is preparing plans to wean its banking system off the dollar, advancing a trend of de-dollarization among the US's largest economic and geopolitical rivals, Russian President Vladimir Putin accused Washington of making a "colossal" but "typical" mistake by exploiting the dominance of the dollar by levying economic sanctions against regimes that don't bow to its whims. "It seems to me that our American partners make a colossal strategic mistake," Putin said. "This is a typical mistake of any empire," Putin said, explaining that the US is ignoring the consequences of its actions because its economy is strong and the dollar's hegemonic grasp on global markets remains intact. However "the consequences come sooner or later." These remarks echoed a sentiment expressed by Putin back in May, when he said that Russia can no longer trust the US dollar because of America's decisions to impose unilateral sanctions and violate WTO rules. While Putin's criticisms are hardly new, these latest remarks happen to follow a report in the Financial Times, https://www.ft.com/content/a5187880-c553-11e8-8670-c5353379f7c2 published Tuesday night, detailing Russia's efforts to wean its economy off of the dollar. The upshot is that while de-dollarization may be painful, it is, ultimately doable. The US imposed another round of sanctions against Russia over the summer in response to the ALLEGED poisoning of former double-agent Sergei Skripal and his daughter Yulia, and the US Senate is considering measures that would effectively cut Russia's biggest banks off from the dollar and largely exclude Moscow from foreign debt markets. With the possibility of being cut off from the dollar system looming, a plan prepared by Andrei Kostin, the head of Russian bank VTB, is being embraced by much of the Russian establishment. Kostin's plan would facilitate the conversion of dollar settlements into other currencies which would help wean Russian industries off the dollar. And it already has the backing of Russia's finance ministry, central bank and Putin. Meanwhile, the Kremlin is also working on deals with major trading partners to accept the Russian ruble for imports and exports. In a sign that a united front is forming to help undermine the dollar, Russia's efforts have been readily embraced by China and Turkey, which is unsurprising, given their increasingly fraught relationships with the US. During joint military exercises in Vladivostok last month, Putin and Chinese President Xi Jinping declared that their countries would work together to counter US tariffs and sanctions. "More and more countries, not only in the east but also in Europe, are beginning to think about how to minimise dependence on the US dollar," said Dmitry Peskov, Mr Putin’s spokesperson. "And they suddenly realise that a) it is possible, b) it needs to be done and c) you can save yourself if you do it sooner." ... Putin Sets The Table To Leave The Dollar Behind https://www.zerohedge.com/news/2019-06-12/putin-sets-table-leave-dollar-behi... https://thedailycoin.org/2019/06/09/putin-sets-the-table-to-leave-the-dollar... ISO_DATE:2019-06-13 This is twice that Russian President Putin has said on the global stage the Federal Reserve Note no longer deserves the status and privilege of “world reserve currency” that allows unlimited printing of the currency. The first time he made mention he actually said that it was a threat to Russia’s national security. In a speech at the International Economic Forum, in St. Petersburg, Russia, “Russian Davos”, President Putin reaffirmed his position regarding the Federal Reserve Note and it’s international role. For the record, we see the abuse of the Federal Reserve and the Federal Reserve Note, U.S. dollar, in similar light as President Putin. The current status of “world reserve currency” should not be allowed in this day and time. The absolute abuse of power, excessive power granted and the ability to shackle entire nations through the use of a currency that is not even their own should have never been allowed but it is way past time for this system to be dissolved. In a speech at a plenary session, Mr Putin accused Washington of seeking to “extend its jurisdiction to the whole world.” “But this model not only contradicts the logic of normal international communication. The main thing is, it does not serve the interests of the future.” https://www.businesstimes.com.sg/government-economy/putin-says-role-of-dolla... As recently we pointed out Russia has been and is, apparently readying, a gold backed cryptocurrency to use as global trade settlement. When a man steps up to the microphone and says to the world – “The main thing is, it (U.S. dollar) does not serve the interests of the future.” while at the same time announcing that Russia, along with China, are working on a global trade settlement mechanism outside the dollar, well, you would have to be some kind serious stupid to ignore those words. The Business Times also reported: Changes in the global economy “call for the adaptation of international financial organisations (and) rethinking the role of the dollar which... has turned into an instrument of pressure by the country of issue on the rest of the world,” Mr Putin said. Then went on to say: The Kremlin chief – whose country has chafed under numerous rounds of US sanctions – has repeatedly slammed the global financial system established by Washington in the aftermath of World War II. https://www.businesstimes.com.sg/government-economy/putin-says-role-of-dolla... Let’s be clear about the effect of the sanctions against Russia. These sanctions that were supposed to cripple Russia have in fact made their economy stronger, more resilient and the ground work for long term growth is now in place. President Putin welcomes sanctions as he simply turns to the people and Russia, funds the next set of projects and Russia becomes a little more self sustaining. Sanctions no longer work, and the Federal Reserve, U.S. Treasury and the western allies have now been put on notice. Putin: Role Of Dollar Should Be Revisited In Global Trade https://www.youtube.com/embed/NtsfJ6KAqDo