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90% Of Gazprom Clients Have "De-Dollarized", Will Transact In Euro & Renminbi
Following Obama and Putin's "caught on tape" meeting Vine'd by the French President, we can't help but wonder if the Russian leaders comments were something akin to "this is not over yet." With "De-Dollarization" efforts already broadly under discussion, ITAR-TASS reports that Gazprom had signed additional agreements for clients to switch from dollars to euros and renminbi, "nine of ten consumer had agreed to switch."
Via ITAR-TASS,
Gazprom Neft had signed additional agreements with consumers on a possible switch from dollars to euros for payments under contracts, the oil company's head Alexander Dyukov told a press conference.
"Additional agreements of Gazprom Neft on the possibility to switch contracts from dollars to euros are signed. With Belarus, payments in roubles are agreed on," he said.
Dyukov said nine of ten consumers had agreed to switch to euros.
ITAR-TASS reported earlier that Gazprom Neft considered the possibility to make payments in roubles under contracts. Some contracting parties agree to switch from dollars to euros and Yuans.
"The so-called Plan B is already partially worked out. The switch of dollar contracts to euros and Yuans is agreed on with some of our contracting parties. Under consideration is the possibility to switch contracts to roubles," Dyukov said at the St. Petersburg International Economic Forum.
And as we have explained repeatedly in the past, the further the west antagonizes Russia, and the more economic sanctions it lobs at it, the more Russia will be forced away from a USD-denominated trading system and into one which faces China and India.
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Rome had no problem with stabbing its allies in the back.
Nobody?
Nobody sane
Cameron does but he thinks the Shard is too short by half a mile.
And Prince Charles sings : make that a mile David!
My bigger fear is Putin is apart of the game and this is all apart of a larger NWO plan that he's in on.
China - Reminbi - with 17T debt and climbing
Europe - debt issue and NIRP
Russia - deals in Barney Rubles
So Russia wants to own Euros and Reminbis.
This Putin fella won't be doing this in any significant way, unless he wants to roll over his $70B into $30B.
US - with 17T debt and climbing and 50T more (at least) in outstanding obligations.
There are now RMB savings accounts in USA!!!
I live in San Francisco where we have a large Chinese population. Last night while walking to dinner I noticed a sign on the door of an East West Bank branch door advertising RMB savings accounts. I was a little surprised then stunned when I put it into a global context.
To think we now have local banking options for savings in non-dollar accounts, but specifically RMB.
And they're insured by the FDIC!
Yeah, I saw that too. However I believe that those accounts are denominated in USD but periodically adjusted to reflect changes in its value vs the RMB.
If you want an account that's actually denominated in RMB, without derivative counterparty risks, try BOC. And if you want it insured by FDIC, try BOC's NY branch: http://www.bocusa.com/portal/Info?id=818&lang=1&
Getting people to willingly give you dollars for rmb is a beutiful scam.
Trading rmb for dollars/euros is also one of main drivers behind Bitcoin.
To think we now have local banking options for savings in non-dollar accounts, but specifically RMB.
My guess is .gov will be on that issue like stink on shit and put a stop to it.
The Federal Reserve is doing a stealth dollar destruction.
It's when eveyone wakes up some morning realizing the dollar has been trashed and all of a sudden the prices of every day items have skyrockete.
We are already seeing the start of it.
Russia has a friend destroying the dollar and it's called the Federal Reserve.
The collapse of the dollar means the collapse of this illegitimate criminal government. Sounds good to me, the sooner the better.
The collapse of the dollar means the collapse of this illegitimate criminal government. Sounds good to me, the sooner the better.
Massive applause ensues from the 99%! . . . . . [or at least from the 10% of the 99% that are currently awake - the rest of the 99% are too busy watching "Duck Dynasty" and "Dancing with the Stars" to care].
i find it very interesting that the posters here tend to feel they are intelligent, wise and hip to the financial schemes of our day YET, there are so many comments directed towards the Presidents race/creed/color; which leads me to believe you guys are nothing but a bunch of computer cowards who have fallen for the biggest misdirection in history Divide THEN Conquer.
I share with you one secret: you can walk away from this forum and ignore us.
Shit is not disliked because its brown.
Shit is not disliked because its brown.
Correct! Shit is disliked because it STINKS! Just like Obama and his neo-con/zio-con handlers are also disliked (er, hated) because they STINK!
they are here for entertainment purposes only. a laugh track would put them in the right(lol) light.
Choombropimphowookie.
and what bout the many who voted for him BECAUSE he was brown? If they don't like him now have they gone rasis?
Note nobody wants rubles. Long term Putin is in trouble - this benefits only the shaky oligarchs. Russia remains shackled to fiat money not of its making while it sells off the people's assets for productivity and intellectual property of other countries. Bad trade continues.
Moshe, -- is that you?
china wants rubles and so do the rest of the brics. the only "nobody" is the usa and europe(not for long). it would be more accurate to say nobody wants the dollar. they just need it for now,
Bitcoin
bitcoin..again? Does the world really need another medium of exchange with absolutely no (hardly any) store of value...don't think so...
Keep wathcing FOX, CNN and the other zio-controlled "main stream media" - you don't want to mess with your perfectly warped view of the world, right?
"Of course you know, this means war!"
"We are not afraid of your PMS or LBGT Brigades, Bath House!"
"Oh, yeah? Well, your hair stylist sucks and so does your wardrobe!"
Being an old redneck and all, I may not be as book smart as most ZHer's. That said...
Energy is "real stuff" in my view. And so those who have energy are ultimately in the driver's seat when bargaining with those who don't have their own energy sources. (War changes everything though doesn't it?)
Europe imports something like 70% of it's total energy needs. Russia supplies over 20% of that 70%(if I recall correctly). The exact percentages are not important. Point is: Europe, especially Germany, can't afford to fuck with Russia but just so much. And everyone over there knows it.
Combine that with the Europeans tiring of the US intervening/interfering in what they see as none of our business....
And I see hard times down the road for the U$Dollar. There's gonna be lots of folks who dump the dollar in the coming months and years....and keep in mind that the US is not energy self sufficient. What will future imported energy cost the US in dollar terms--hugely devalued dollars?
Fucking with everyone else in the world has resulted in our fucking ourselves.
Gold and silver for me and my buddy Clyde!
https://www.youtube.com/watch?v=Sx7D8p-AoEs
Ain't it sumptin, the way fuckin with other folk comes back and bites ya in the ass ? Even a mangy old dog will have his day.
So on the one hand its free Gas for China and the EU because they can now just print the money and transfer through banks as debt that will never be repaid to the purchasers of the gas. Then later on the central banks simply buy the debt back and stop collecting repayment and disapear it in a deep dark hole.
This is great for EU and China because Russia is in effect paying tribute to them now and by Chinese thinking this makes Russia a vassal state and a defacto Chinese territory.
Impact on US dollar is interesting in that there is now less demand for dollars and this pushes down value of dollar while at same time these deal are inflationary because of money printing that will cause large amount EU and Chinese currency build up in Russia, That should drive the value of those currencies down,
In the short term I see this a causing a drop in dollar that is actually good thing for US economy. In the longer term it will generate a rise in value of dollar as inflationary impact of money printing to pay for gas takes hold.
Russia though is countering US here by offering in effect EU and China the worlds biggest bribe,
If gold were priced at more realistic levels (and if it becomes available again in quantities that allow its use in international trade) Russia could use Euros to buy gold. This forces the ECB to restrain its printing or face devaluation of the Euro.
talk talk talk talk talk
April Wine - Say Hello
http://www.youtube.com/watch?v=QJ0Kv-BOglQ (3:01)
I hear they're doing the same in Ohio.
Since I’m in the process of liquidating properties in Ohio. What do you mean? Call me on your Obamaphone Lady Smartphone. Thanks.
Fuck OHIO, another Detroit Nigger jiggering Democrat crash and burn state. Once was proud to live there, fucking socialist cesspool. Didn’t walk, ran away.
Are you reading this John Kasich? Go fuck yourself. Pulling all my money out of your state.
Why would Russia want payment in rubles? It can print those. Yes it could then destroy the received money and lessen inflationary effects but I'm thinkin the'll ask for Euros. It is a stable currency, Russia needs Euros to buy from the EZ and the Yuan is just not ready for the world stage...yet.
Which is why gold will NEVER be involved.
Why sell gas in rubles? Exactly. You can print those.
Why sell gas in gold? It has no function in Russian society.
This is going to evolve towards food and labor. The buyer has to ship food for gas because all forms of money aren't satisfying requirements. Or ship labor to clean Russian toilets. Pay for gas that way.
There is talk on the new primary oil blog about non monetary prices placed on the gas. Like "you can only have gas if you defund all research on alternative energy". Or "you can only have gas if you ship all your weapons to us".
The point being that it is playing for PERMANENT global dominance. Not temporary.
For fucks sake it's a store of value unlike oil though u already know that but anti-gold troll away anyway.
Oil stores joules.
And that's that for your argument.
"agreements for clients to switch from dollars to euros and renminbi, "nine of ten consumer had agreed to switch."
as it should be.
when countries chose to do business, they should do it in their currencies.
contrary to widely held belief, the u.s. dollar will benefit from a free-for-all currency exchange system.
one that says you do trade-buy-sells, etc in the currencies of those who are doing the business. for example, with russia and, say, china.
everybody knows that russian money is being led by a putinczar, and china money by a wannabe not communistic megalopolis of committee, clearly possessed of uncertain internal certainty.
there's a risk or two there.
i say: let them bear the risk, not me.
you want to do business with a country on planet earth? go ahead and factor in the whom of it.
then look at doing business with the u.s. of a.
i'll bet the worlds sees lower risk doing business with the u.s. of a. rather than, say any other country on the planet.
ergo sum. wezza benefit.
:)
The demand for US dollars will drop and those dollars end up coming home, inflation is the result, the US has had an enormous advantage with being the reserve currency and a move away from that will be a disaster for the US.
"The demand for US dollars will drop"
if the demand for the 2nd largest economy's unit of currency drops, so too will all the smaller ones. there are no absolutes.
"those dollars end up coming home, inflation is the result"
those dollars only come home if they want to buy something from us.
in order for there to be something for them to buy, we would have had to made it. whatever we make, if we make a profit, that will be bettor for the people of the u.s. of a.
"the US has had an enormous advantage with being the reserve currency"
not any more. with the advent of ultra high speed faster than most light speed fx markets, the world is already deciding what the value of whose-ever denomination is being transmitted from one terminal to another.
within or between countries.
:)
Fuck the USA and its paper!
There in collusion. Stop thinking in terms of one against the other.
France have 57 nuclear (nucolar) power plants. France no understand earth changes in full force and growing. Polar axis is shifting. Mother nature has all options on the table.
I would love to see a chart showing how much of the world's wealth is still dependant on the USD.
Are we really in "trouble"?
My quess is that if the US implodes, we take the world with us.
(Of course, there is probably a point in time when the world no longer gives a shit about the USD. But is now that time?)
WHO CARES?! Good for them. They will just be short dollars when they need them and who will take renminbi anyway? And Euro's are practically dollars only less so. So party on. If anything it defines the economies in ways perhaps they might want to avoid defining so explicitly. Ha ha ha.
The demand for US dollars will drop and those dollars end up coming home, inflation is the result, the US has had an enormous advantage with being the reserve currency and a move away from that will be a disaster for the US.
disagree.
:)
What took Russia/China so long to realise that trading in the fantasy currency of their avowed enemy (see rat-face-Wolfowitz Doctrine) was not a good idea???
One of Mankinds greatest flaws.
The triumph of habit over reason.
China has $2 - $3 Trillion in USD reserves, which comprise approx. 2/3 of total reserves. I have a hard time believing their intent is to crash the dollar thereby wiping out the majority of ther FX reserves.
In fact, they have no interest to crash the dollar. Only in the case of true war they might renounce to their assets in exchange for a deadly blow to the US.
However, they have all interest to exchange they dollars for assets with an intrinsic value, not fiat currencies. This is already happening, slowly but steadly.
japan use to do that.
god bless inflation.
:)
IMF headed to China. There go the neighborhood.
“But the way things are going, I wouldn’t be surprised if one of these days the IMF was headquartered in Beijing for instance,” she said. “It would be the articles of the IMF that would dictate it.”Lagarde said the IMF has a good relationship with China, the world’s second largest economy and she praised the government’s commitment to fighting corruption.
Is this what he (0bamao) meant when he told Medvedev he would "have more flexiblity?" To what-destroy the US economy?
Noboby gets it. Sleight of hand. Yuan, Ruble appreciates, dollar depreciates, Oops!
America pulls ahead in currency war, Everybody else loses.
No wonder no one wants reserve currency status, just a mixed bag bag of currencies.
I thought you people were smarter than that
Now GM can sell all those stuffed pipeline cars to Russians and Chinese for $4,000.
They'll clean up.
It's a brilliant plan.
Chevy Cruze for $3700? Sign me up!
The real fun starts when Russia is offering a 10% discount on the calculated price when its receiving payment in other currency than Dollar.
Is that like switching from Sharman to Kirkland?
i knew the 1st day that voting for a nigger to a white house is more than just a paradox.
"This aggression will not stand , man!"
https://www.youtube.com/watch?v=cyLdtG7KZvw
who cares we print dollars outta thin air here baby go usa!!!!!!
who cares we print dollars outta thin air here baby go usa!!!!!!