La tramoya » La des-dolarización de Rusia
La tramoya » La des-dolarización de Rusia
Although
the Western media hardly is giving notice thereof in Russia is being
discussed in the last weeks the adoption of a series of economic
measures that would involve a change of significant guidance and a
strong response to the sanctions and threats received by their role in
the conflict in Ukraine and Crimea.
The plan is based on a series of proposals made more than a month ago
by Sergei Glazyev, academic and adviser to President Putin, and whose
main objective that the Russian economy abandon everything that has to
do with the area of influence dollar.
Among the measures proposed would Glazyev and it seems that the
government is trying to implement some can be a very important for the
buck if you consider that Russia is currently the largest exporter of
natural gas in the world and the second oil. And others that, if effective, could provide a powerful boost to its economy.
Among the former are the Russians to transfer assets and dollar
accounts now domiciled in NATO countries to banks in countries
considered "neutral"; establish controls on capital movements; liquidate bonds NATO owned by Russia;
limit the operations you can perform Russian banks in foreign
currencies, especially those which are not related to trade, to prevent
speculative transactions; Russian quickly reduce holdings in currencies of countries considered hostile or supporting sanctions against Russia; jurisdiction to bring Russia on strategic companies that are currently in tax havens;
or switching to national currencies in existing accounts Eurasian
Customs Union (Belarus, Kazakhstan and Russia) or under other trade
agreements.
These measures of de-dollarization would have an effect of weakening dollar.
Especially if you consider that long and stealthy way China is also
taking steps to strategically go disassociating the greenback.
And while the military and economic might of the United States, or its
huge gold reserves, nearly four times higher than the official China and
Russia together-they allow keeping too great advantage over any other
economic power, waterways-as which can produce this plan if Russia
starts-that you are opening the dollar anticipate a novel and not
without conflict horizon.
Therefore, it may be even more interesting as it also provides Sergei
Glazyev plan oriented to the central bank to make a millionaire monetary
issue in the line which have been conducted in China, Japan and, to a
lesser extent, U.S..
Convinced that creating liquidity need not cause excessive inflation if
not engaged in speculation but to facilitate and finance the production
of goods and services, the plan calls get an acceleration of the
Russian economy could be crucial and highly relevant worldwide, just as
capital outflows, the Ukrainian crisis and the effects of the general
crisis have weakened considerably.
In the coming months you can check if move on a different path to that
neoliberal currents have been imposed in recent years allows Russia
plays a different role in the world and reactivate a successful economy,
which will in any case need as much or more notable progress made in
the area of internal democracy and the exercise of human rights. Time will tell what this gives him, but we have to be vigilant.
