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It's On: Gazprom Prepares "Symbolic" Bond Issue In Chinese Yuan
Curious what the fate of the petrodollar is? Look no farther than this Interfax update blasted moments ago by Bloomberg: "Gazprom Considers 'Symbolic' Yuan Bond Issue, Interfax Says."
Bloomberg adds that the gas giant is considering proposals from potential organizers to market bonds in yuan, Interfax reports, citing people with knowledge of the matter.
- Gazprom unlikely be able to gain more than $300m due to mkt volume, newswire reports
- No mandates, deal timeline yet
- Issue may add new investors, become a “topical” public relations act amid tensions with U.S., EU
Well, yes. It's called "symbolic" for a reason. More importantly, it is a symbol of what happens when one can "create" money de novo without the presence of the world's increasingly defunct reserve currency, either secured by gas or by future cash flows, i.e., unsecured.
Confused? Read:
- Petrodollar Alert: Putin Prepares To Announce "Holy Grail" Gas Deal With China
- Russia And China About To Sign "Holy Grail" Gas Deal
- 40 Central Banks Are Betting This Will Be The Next Reserve Currency
... and the New New Normal flow of funds will suddenly become clear -
- Gazprom delivering gas to China.
- China Gazprom paying in Yuan (convertible into Rubles)
- Gazprom funding itself increasingly in Yuan.
- Russia buying Chinese goods and services in Yuan (convertible into Rubles)
And all of this with the US banker cartel completely disintermediated courtesy of the glaring absence of the USD in any of the above listed steps, or as some may call it: from the Petrodollar to the Gas-o-yuan (something 40 central banks have already figured out... just not the Fed).
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The only reason why Putin doesn't go right ahead and sign a Hitler-Stalin Pact with the Chinese is because he knows that the Chinese have more people and more money, and he'd be the Junior Partner in any arrangement with Beijing.
Nobody wants to be Mussolini in an alliance of authoritarians.
The United States has brought this on itself with its ridiculous adventurism in the Middle East and the old Soviet Near-Abroad States.
This Administration, like Bushtard before it, has been a disaster bordering on the Popular Front Government of Leon Blum.
Merde!
Will Vlad trade gold pandas for gold bears???
Does he have a recipe for panda?
The USA ought to export war criminals to reduce the trade deficit.
The official spokesman for US foreign policy and economic status
http://www.youtube.com/watch?v=s27Oq5ot0ZI
Everything should be valued in human labour. Oil is free in the ground.
Disclosure: I voted for Hitler.
Was Ronald McDonald arrested in Kharkov?
https://www.youtube.com/watch?v=TysGhYvUofM
INDEEDY THE HEAT IS ON BABY! https://www.youtube.com/watch?v=gjzXlRzM6PQ
- Donetsk Creates “People’s Army”
As RT reports, masked men, who are mostly civil volunteers, but also police and army defectors, say they “defend their motherland from the fascist army that’s going to kill them.” They also demand “a referendum to be independent from Kiev” and are in favor of “being with Russia.” The Ukraine forces are moving in on Donetsk…
American Special Ops soldier captured in Ukraine dressed as Sokol police http://forum.prisonplanet.com/index.php?topic=257458.0
Notice at the end he says he’s a US citizen.
- Putin Warns Europe “No Alternative… Will Cut Gas Supplies”
- Satellite Photos Released Revealing Russian Military Build Up
- US Destroyer Enters Black Sea To “Reassure NATO Allies And Black Sea Partners”
Now playing: Weekend at Uncle Sams. Starring Ben Bernanke & Janet Yellen.
Real Weekend at Bernies Movie review From IMDB: "A pair of losers try to pretend that their murdered employer is really alive, but the murderer is out to "finish him off."
Windows to Russia: Putins Letter to Leaders of EU countries http://windowstorussia.com/
Goblin News: http://www.youtube.com/watch?v=dfzMnP3ilcI
The Ruski take on and tells the Maidan in real....
I wish I understood Russian.
http://in.reuters.com/article/2014/04/10/g20-economy-brics-idINDEEA390GA...
(Reuters) - The BRICS bloc of emerging economies will have all preparatory work done for setting up its development bank by the group's summit in July, South African Finance Minister Pravin Gordhan said on Thursday.
The bank Brazil, Russia, India, China and South Africa plan to support infrastructure projects has been slow in coming, with prolonged disagreements over its funding, management and headquarters.
The group, which has struggled to take coordinated action on most issues in the past year after the scaling back of U.S. stimulus prompted an exodus of capital from their markets, is hoping their leaders will officially launch the bank at their July meeting in Brazil..
...CONCERNS OVER STALLED IMF REFORMS
The BRICS are also concerned that the U.S. Congress has failed to ratify reforms to the International Monetary Fund that would double the Fund's resources and give more say to emerging markets, such as the BRICS.
"We've discussed our mutual concerns about the slow pace of the IMF reforms and the kind of stalemate that we find ourselves in currently and we hope work with everyone to find an equitable solution," Gordhan said.
"But clearly a lot depends on the U.S."
Some officials from the Group of 20 advanced and emerging economies have suggested moving ahead on the reforms without the United States, although U.S. approval would be necessary for any major decision to go forward because of Washington's controlling share of IMF votes.
http://allafrica.com/stories/201404101667.html?aa_source=mf-hdlns
From 11 to 13 April, thousands will gather in Washington, DC for the annual Spring Meeting of the International Monetary Fund (IMF) and the World Bank Group. The key issue on the table will be IMF reform. Waning US leadership of the process is threatening the stability of the global economy, says Christopher Wood ahead of the meeting.
No single country could have stopped the 2008 global financial crisis. With enormous, interconnected global financial flows that move at breathtaking speed, crises have the potential to quickly snowball beyond control. There is the need for a robust international organisation that can act decisively to counteract shocks before they become full-blown crises, and the International Monetary Fund (IMF) has every potential to fulfill this role. But for the IMF to act decisively and legitimately, reform is needed.
A first step in this reform is ready and waiting to be implemented, but has been stuck for four years before an American Congress that refuses to ratify it. This failure threatens the stability of the global economy and, above all, threatens America's place in a fast-changing world...
...The IMF is governed by two mechanisms. The Board of Governors is the highest decision making body. All 188-member countries are represented on the Board, but voting power is weighted according to the amount of money each country contributes, through a quota system. This monetary basis provides for an asymmetric voting structure, which is broadly accepted as necessary to maintain the participation of the richest countries. More problematic is that the quota no longer reflects economic reality, with the likes of China having less influence than France, and Brazil holding less voting power than Belgium. A similar imbalance is reflected in the Board of Executive Directors, which is appointed by the Governors and makes most operational decisions. Of the 24 members, five are directly appointed by the US, Japan, Germany, France and United Kingdom. The remaining 19 are elected, either by blocs of countries or by the three countries with a large enough voting share to directly choose their representative - namely China, Russia, and Saudi Arabia.
'1st Yalta [Ukraine?] annual Meeting [7/1-3/2004]?' http://yes-ukraine.org/en/Yalta-annual-meeting *Check out the Photo Gallery on sidebar-- surprise, surprise
a decade later and we have the '10th Yalta Annual Meeting' [9/19-22/2013] http://yes-ukraine.org/en/Yalta-annual-meeting/10th-yalta-annual-meeting
http://www.muckety.com/Yalta-European-Strategy/5100846.muckety
thankyou Tyler
I didn't know Gazprom made toilet paper.
What I was trying to say is that gold is priced too low to facilitate the world's trades. There is not enough gold.