April 25, 204 By The DOC
Several Russian News outlets have reported that Russia, Kazakhstan and Belarus, that currently form the Eurasian customs union, will sign an agreement in May to accelerate the formation of an economic union and a joint currency: the Altyn.
Russia’s economy is eight times smaller than the US, but by forming a new ‘empire’ on top of a vast amounts of resources, this economic block will be a serious threat for the US petrodollar.
Russia is now speaking openly about getting rid of the US dollar for trading energy, building its own payment system and closing gas export deals with China - the other Asian empire. The Eurasian Economic Union will be a powerful stab at the US dollar hegemony.
By the way, the meaning of the Turkish word “Altyn” is … gold.
Submitted by Koos Jansen, In Gold We Trust:
On the territory of several Russian principalities the currency Altyn has been circulating from the 15th century until 1991. Originally it was made of copper, the silver Altyn appeared during the times of Peter the Great.
I added English subtitles to the video below, press the ‘captions button’ to activate.
Transcript of the video:
ALTYN BECOMES THE NEW CURRENCY FOR CUSTOMS UNION
NEW EURASIA CURRENCY MAY APPEAR IN THE NEXT FIVE YEARS
A new currency for the Eurasian Economic Union, “Altyn” may enter into circulation within the next five years. In May, the Presidents of Russia, Kazakhstan and Belarus will sign an agreement on the establishment by 2015 of the Eurasian Economic Union. This unique partnership and single economic space will be a response to the European Union. It is not excluded [It is possible] that this may eventually develop into a military- political alliance which is able to compete with NATO and China. The original idea for creation of a single currency belonged to President of Kazakhstan Nursultan Nazarbayev. In 2012, it was supported by Russia’s President Vladimir Putin. It was originally planned to create a currency in 2025, but the introduction of serious economic sanctions against Russia may begin to accelerate plans for this new currency market.
Other news outlets that reported this news were Pravda.ru and Moskovsky Komsomolets. From these leads I did some searching on official sources on the development of the Eurasian Economic Union (EEU) and Altyn. What I found was that the EEU is in an advanced stage, on Altyn I couldn’t find much so I’m not convinced this currency will be introduced within 5 years. Presumably only an “oral agreement” between the states has been made on the joint currency.
Posted By: Yaiqab Saint
Saturday, April 26th 2014 at 4:14PM
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