‘Russia reels, denounces new U.S. sanctions as illegal, unfriendly’ Could this affect the USA dollar?


COGwriter

Reuters reported the following:

Russia reels, denounces new U.S. sanctions as illegal, unfriendly

August 9, 2018

MOSCOW (Reuters) – Russia condemned a new round of U.S. sanctions as illegal on Thursday after news of the measures sent the rouble tumbling to two-year lows and sparked a wider asset sell-off over fears that Moscow was locked in a spiral of never-ending curbs by the West. …

In the latest broadside, the U.S. State Department said on Wednesday it would impose fresh sanctions by the month’s end after determining that Moscow had used a nerve agent against a former Russian double agent, Sergei Skripal, and his daughter, Yulia, in Britain, something Moscow denies.

In an early reaction, the Kremlin said the sanctions were illegal and unfriendly and that the U.S. move was at odds with the “constructive atmosphere” of Trump and Putin’s encounter in Helsinki. https://www.reuters.com/article/us-usa-russia-sanctions/russia-reels-denounces-new-u-s-sanctions-as-illegal-unfriendly-idUSKBN1KU13C

The USA has recently re-imposed sanctions on Iran, has them already on North Korea, has now announced increasing them on Russia, and has threatened other countries if they try to get around the sanctions against Iran. And there are also issues with Turkey and Venezuela.

Europe is looking for ways around the Iranian sanctions (see USA reimposing sanctions against Iran, while EU resists and ‘European Powers Prepare To Ditch Dollar In Trade With Iran’).

Could these affect the USA dollar?

Notice something from the BRICS 2018 conference less than two weeks ago:

President Vladimir Putin said that Russia does not renounce the US dollar as a universal reserve currency.

“Russia does not renounce the dollar as a universal reserve currency,” the Russian leader said at a press conference following the results of the BRICS summit.

“We are not going to make any drastic moves, we are not going to renounce the dollar, we are using it and will use it as far as the financial authorities of the United States do not hamper the use of the dollar in settlements,” Putin said.

He noted that the euro also can “more or less” claim the status of a universal reserve currency but “not in full”.

“Therefore, we are quite aware of what the dollar represents today,” the Russian president concluded.

Speaking about reserve currencies in general, Putin noted that some currencies can play the role of “regional reserve currencies.” In a way, the Russian ruble is such currency in relation to the CIS countries or the countries of the EAEU (Eurasian Economic Union).

“But, in general, any national currency is so strong and good as the economy that is behind it is strong and good. Therefore, we must proceed from this fundamental factor,” the Russian leader stressed.

“As for the dollar, we should minimize risks, because we see what is going on due to these sanctions, these actually unlawful limitations. We are aware of these risks and are trying to minimize them,” Putin said.

“As far as our US partners and restrictions introduced by them are concerned, including for settlements in dollars, I believe this is a major strategic mistake of our US partners,” the Russian president said.

They [the US] thereby undermine confidence in the dollar as in the reserve currency,” Putin noted. …

A lot of countries state that it is necessary to expand the possibilities of global financing, the world economy and to create new reserve currencies. That will make the world economy and world finances more sustainable,” the head of the Russian state said.
07/27/18 http://tass.com/economy/1015096

So, Vladmir Putin says that Russia will not make any drastic moves now as far as the US dollar is concerned. And I believe that is correct as Russia has already gotten rid of most of its US Treasury holdings.

Now also notice that he said that the Euro was becoming a reserve currency, but is not ready yet. He also said that the world wants more world currencies, which effectively means the toppling of the USA dollar.

Furthermore, he noted that the USA is undermining its position as the world’s primary reserve currency through its sanctions and other policies.

This, too, is an unintended consequence of Donald Trump’s policies.

Months before Vladimir Putin made his statements, I posted the following here:

The eroding of the US dollar’s status in international trade is one of the ‘unintended consequences’ of various USA sanctions. (Thiel B. RT: Europe to ditch US dollar in payments for Iranian oil – source. COGwriter.com May 16, 2018)

Others are starting to share the view that sanctions made affect the dollar’s role as the world’s primary reserve currency:

9 August 2018

Teheran (AsiaNews / Agencies) – Iranian Foreign Minister Mohammad Javad Zarif has responded to US President Donald Trump’s threats saying that the United States will not be able to prevent the Islamic Republic from exporting oil. …

In the first row between those who want to preserve business relations with Tehran there is Brussels and the block of European countries, according to which the nuclear agreement works and should not be canceled. In spite of the American sanctions, the Union intends to continue to buy oil from the Islamic Republic and to do so it is willing to “create accounts” in the Iranian Central Bank. “The result of these measures – concludes Zarif – will be US isolation”.

The words of the head of Iranian diplomacy are confirmed by some experts and analysts of international politics who believe the economic and commercial war launched by the US administration against Teheran will eventually isolate the United States. In an editorial published in Strategic Culture the British scholar Finian Cunningham urges Washington to respect multilateralism as other nations do. Otherwise, the risk is “economic isolation” by the rest of the international community. In particular, Trump reinforces the course undertaken by Russia and China that intend to free themselves from the US dollar in international trade. Without the reserve currency privilege, the US economy would collapse. http://www.asianews.it/news-en/Zarif-responds-to-Trump:-US-sanctions-will-not-stop-Iranian-oil-44622.html

Note: the statement “Without the reserve currency privilege, the US economy would collapse.”

The USA is taking risks and one day its dollar will not be the world’s reserve currency.

Consider also the following:

The dethroning of the dollar

Is the dollar in danger? … President Trump finally followed through on his threats to impose tariffs on most steel and aluminum imports. He did so, he says, to promote what he characterizes as fairer relationships between the United States and its trading partners. “We’ve been treated so badly over the years by other countries,” Trump said …

Right now, there’s no obvious contender for replacing the U.S. dollar. …

But there are more immediate things China and the eurozone could do to improve the desirability of their currencies. …

Meanwhile, the U.S. could wreck its standing.

That President Trump makes America look a bit less politically stable sort of goes without saying at this point. But the precariousness of the U.S. position is more specific than the president’s tweets. Eichengreen and his co-authors looked through the historical data and found that geopolitical relationships — particularly military alliances — influence who uses what reserve currency. It’s not just an economic calculation, but also a way of strengthening an alliance. “We find that military alliances boost the share of a currency in the partner’s foreign exchange reserve portfolio by close to 30 percentage points,” they concluded.

You can see how this might be worrying for the U.S. Trump could eventually make good on his “America First” rhetoric and pull the United States out of NATO. … This brings us back to Trump’s tariffs. It’s unlikely that increased duties on steel and aluminum could set off a tit-for-tat trade war that eventually encompasses a whole range of trade goods and services. But if they did, that would make the U.S. dollar look less attractive as well. …

First, we may not live in a monopoly reserve currency world after all. If China and the eurozone can get their acts together and America slips, the world could wind up with two or three global reserve currencies all tussling together.

Second, if the change does come, it could come fast. When America created the Federal Reserve system in 1913, for example, the U.S. dollar had virtually no international role. But the Fed and World War I changed things, and within a decade, the dollar had become one of the dominant reserve currencies. Depending on what China, the eurozone, the United States, and other players do, such a change could happen again. And with modern technology, it might be even swifter than last time. 03/09/18 http://theweek.com/articles/759509/dethroning-dollar

Yes, it is possible to lose reserve status quickly. This could happen with a combination of natural and/or man-made disasters and increasing USA debt (cf. Habakkuk 2:6-8)

This will one day have major ramifications:

What happens to the US economy if the Dollar is no longer the reserve currency of the world?

If US T-bills lose their attraction as reserve investments … it would get harder for the Treasury to sell more of them, requiring higher interest rates to be paid and potentially forcing austerity measures on the US government or triggering classic deficit spending inflation (“printing money” to pay for government, this doesn’t happen now because the deficit is financed through sales of those bonds at extremely low interest rates).

If foreign central banks and governments start exchanging their US dollars for some other currency or currencies, then the value of the dollar in international trade drops, it becomes more expensive to buy imported goods in the US and more profitable to sell exported goods from the US. This could have all kinds of political and social effects, especially if the shift was rapid, severe, and unexpected. https://www.quora.com/What-happens-to-the-US-economy-if-the-Dollar-is-no-longer-the-reserve-currency-of-the-world

The above is warning about inflation, higher interest rates, and troubles borrowing. The USA is the most highly indebted nation of all time. The USA has been essentially on a borrowing binge the last four decades and its economy is now dependent upon borrowing. The Bible paints an even worse scenario that in the time of the end (Habakkuk 2:2-3) the highly indebted will be taken over (Habakkuk 2:2:6-8) and destroyed (Daniel 11:39; USA in Prophecy: The Strongest Fortresses).

There is a cost to USA sanctions.

They are pushing the Gentile nations to come up with something that the USA will not like.

One day the USA dollar will be worth no more than the scrap value of the cottony-paper it is printed on.

Some items of possibly related interest may include:

The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
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Trade Disputes: CCOG Warnings Are Coming to Pass Trade tensions and talks of trade wars have escalated. US President Donald Trump has put Europe, China, Mexico, and other lands on notice that he wants to change how international trade with the USA has been going. Tariffs, retaliatory tariffs, and even more tariffs are being implemented. Is this all just happenstance? Are we yet in a trade war? What will Europe do? Has the Church of God been warning about trade disputes and a coming trade war for decades? What about the Continuing Church of God (CCOG)? What has been warned, what has been happening, and what will happen? Will trade disputes be a factor in World War III (WW3)? Dr. Thiel explains what has been taught and what to expect.
Trade Wars: Are COG warnings coming to pass? Trade issues, tariffs, and talk of trade wars are in the news. Can trade wars lead to World War III like they did to World War II? Are the events going on with the USA, UK, Asia, and Europe consistent with warnings published by the true Church of God (COG) over the past several years and decades? Do Germany and China hope to take advantage of trade frictions involving the Trump Administration and the Trans-Pacific Partnership agreement? What about Mexico and South America? Does the Bible teach that Europe will become a major trading power? Will the final European Babylonian trading power be destroyed? Dr. Thiel addresses these issues and more in this video.
18 items to prophetically watch in 2018 Much is happening. Dr. Thiel points to 18 in this article. Here is a link to a related sermon: 18 items to prophetically watch in 2018.
Is China paving roads to Armageddon? China is working on something known as the ‘Silk Road’ project or the “One Belt, One Road” initiative. NBC reports that China intends to spend one trillion dollars to build roads, bridges, railroads, and maritime facilities to reach from China to Europe and China to the Middle East. Over 60 nations, including Russia, are involved with this. Could this Silk Road project possibly produce thoroughfares that could be used by troops that will amass at Armageddon? Dr. Thiel discusses this project and some of its potential prophetic ramifications in this video.
Armageddon Who is involved and when will this gathering happen? Here is also a video from Dr. Thiel, from Tel Megiddo in Israel: Armageddon.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? A YouTube video of interest may be Is China THE Threat to the United States of America?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
Ezekiel 38: For Russia & Iran in Our Day? Is Ezekiel 38 about to be fulfilled? A related video is available titled Ezekiel 38: For Russia, Ukraine, & Iran Now? Another could be Russia, Iran, Syria, & the Bible (Code).
Russia and Ukraine: Their Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end? There is also a video sermon available: Russia in the Bible and in Prophecy and a video sermonette available: Ukraine in Prophecy?
Teachings Unique to the Philadelphia Church of God Simply calling oneself ‘Philadelphia’ does not make one so (see Revelation 3:7-9), nor does Gerald Flurry calling himself “that prophet” make it so. This article provides many quotes from this group which tries to look faithful.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? Here is a link to a video titled: The Future King of the North.
Can You Prove that the Beast to Come is European? The Book of Revelation tells of a beast power that will rise up. Some think that this must be Russia or could be Islamic, while others say that this power is European. The Book of Daniel tells of the rise of an end time King of the North that some think must be referring to a Russian leader, while others say that this power is European. How can you be sure? This YouTube video has all the scriptural proofs that you should need to prove that this power must be a European one.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. A related sermon is titled: Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
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Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Donald Trump and America’s Apocalypse-Kindle Edition.



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