Russian Oligarchs Wave Goodbye To Visa, Switch To Chinese Credit Card

Russian Oligarchs Wave Goodbye To Visa, Switch To Chinese Credit Card (ZeroHedge, Aug 2, 2014):

So much for the “Russia is becoming increasingly isolated” meme that the West would like many to believe. As Russia continues to sign de-dollarization deals and trade agreements with its BRICS allies while pushing ahead with retaliatory actions against the US and Europe, it appears the ‘sanctioned’ friends of Putin are taking matters into their own hands. Billionaire oligarch Gennady Timchenko, among the first to be hit by travel bans and asset freezes by the US, has decided to tear up his Visa and Mastercard, shifting all his credit cards to China’s UnionPay, noting that “in some ways it is more secure than Visa – at least the Americans can’t reach it.”

1 thought on “Russian Oligarchs Wave Goodbye To Visa, Switch To Chinese Credit Card

  1. Russia needs to keep a close watch on China, Enron accounting is how they estimate their income. Regardless they have been caught lying about how much they export by different countries, the lies continue.
    GDP is estimated on what they build, not sell. Thus, there is a reason for all the ghost towns that have sprung up….the Chinese cannot afford them, but they look good, at least for a little while.
    They built the world’s biggest building, complete with indoor seashore over 100 miles from the ocean. When I saw the pictures, I was in awe…..it is lovely beyond belief. Businesses, shops, restaurants and the seashore is on the ground floor. The upper floors are for offices and homes. There is only one problem, none of the working people in China can afford to go there to shop, or to buy in.
    Building is great, but it really doesn’t make up for GDP.
    China is the Achilles Heel, just as world reserve currencies have become obsolete……..Putin had best watch them closely, they have adopted the worst aspects of the west.
    Boy, do Americans get angry with me when I tell them the US is no longer the world reserve currency because Putin has brilliantly undercut them with his basket of currencies. I don’t get to Hugo Chavez very often, they explode before then. Denial is our worst disease. It may be what has destroyed so many civilizations in our past.
    I find it amazing, but the worse things get, the deeper goes the denial. It helps to have a highly polished and developed propaganda system as well.
    Napoleon said it best: “Had Louis XVI better control over the press, he would still have his throne.”
    A pity we have none to equal him today. The closest appears to be Putin, but it is too early to say with assurance. It would be nice to have leaders who care about the welfare of this nation over the next couple of decades……..they only care about their own methods to get as rich as possible……and to hell with the people.

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