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Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles
A little over a month ago, when Russia announced the much anticipated "Holy Grail" energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar's stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. In doing so they admitted that while both nations are eager to move away from a US Dollar reserve currency, neither is yet able to provide an alternative. This changed rather dramatically overnight when in a little noticed statement, Gazprom's CFO Andrey Kruglov uttered the magic words (via Bloomberg):
- GAZPROM READY TO SETTLE CHINA CONTRACTS IN YUAN OR RUBLES: CFO
In other words just as the US may or may not be preparing to export crude - a step which would weaken the dollar's reserve status as traditional US oil trading partners will need to find other import customers who pay in non-USD currencies - the world's two other superpowers are preparing to respond. And once the bilateral trade in Rubles or Renminbi is established, the rest of the energy world will piggyback.
But wait, there's more. Because only now does Gazprom appear to be unveiling all those "tangents" that were expected to hit the tape in May. Among Kruglov's other revelations were that Gazprom is in talks on a Hong Kong listing and is weighing the issuance of Yuan bonds. Gazprom is also considering selling bonds in Singapore dollars, the CFO said at briefing in Moscow. Wait, you mean that by alienating and embargoing Russia from western (USD, EUR-denominated) funding markets, it has pushed the country to turn to its pivoting partner, China and thus further cementing the framework for the next Eurasian strategic alliance?
Unpossible
But wait, there's still more, because it is not just Gazprom. As the PBOC announced overnight, PBOC Assistant Governor Jin Qi and Russian central bank Deputy Chairman Dmitry Skobelkin led a meeting held yesterday and today in Shanghai. The meeting discussed cooperating on project and trade financing using local currencies. The meeting discussed cooperation in bank card, insurance and financial supervision sectors.
In other words, central bankers of China and Russia discussed how to replace the dollar with Rubles and Yuan. From the PBOC:
In retrospect it will be very fitting that the crowning legacy of Obama's disastrous reign, both domestically and certainly internationally, will be to force the world's key ascendent superpowers (we certainly don't envision broke, insolvent Europe among them) to drop the Petrodollar and end the reserve status of the US currency.
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Hell, I thought it was NASDAQ: GRPN. Man, this Blue Pill is some strong stuff.
you god damn traitors do not understand the zesty spunk ridden vibrarancy of the eagle.
she adapts she ducks and dives but always soars.
it's only half time ameriga.
we make things in the homelands solid metal no rust,tough as old bones.
china sells dollar store plastic crap
russia world leading papermache and cardboard planes and missile maker.
the team america eagle flys in all weathers russian plane wings bend when wet and have to limp home to vloddy vostok.
putin is thrashing around in his hovel a bear with a real sore head.
this article means nothing for we in the us homelands have spunk,metal with no rust,monsanto corn syrup drinks and above all obarme beliefs.
with the help of israel and the city of rothschild london we can still win this
come on guys lets roll.
Okay, be right there, they're just about done fixin my GM recall.
Gimme a minute..... Dancing with the Stars is still on, and it takes me a while to get off the couch after drinking all those "Monsanto corn syrup" drinks
why did you omit Afordable Healthcare act? ( I love this nice name....)
any chance they'll use the shekel?
http://www.fpp.co.uk/online/05/08/Oligarchs_030805.html
" any chance they'll use the shekel"?
Only if they can loan it out with interest!;^)
Shaping the future without the dollar.
http://thebricspost.com/china-to-host-international-silk-road-belt-confe...
More bad news for Fearless Leader - the Supreme Court just struck down his recess appointments.
http://www.politico.com/story/2014/06/supreme-court-recess-appointments-...
That will mean ALL of the decisions they've made so far are NULL AND VOID!
We need Tyler to make a list of the BS dictates those appointments made since they've been there.
ALL VOID!
Apparently existing recess appointments will stand. This decision by the Supremes will block future attempts to circumvent Congress.
What's really amazing is that the dollar has held on so long. I wonder how many European currencies would have dropped it by now had the euro never been.
https://www.youtube.com/watch?v=0_lc81P-R8k
If you haven't seen this one yet your going to love it. Especially the end.
Monkey Shooting an AK47 at Soldiers
good enough for Marine recon...
This story is total bullshit. If the Chinese and Russians were walking the walk instead of talking the talk, there would be yuan and ruble rates for barrels of oil. The fact that one cannot go on WSJ, for example, to get those rates shows the lie.
FAIL
The question this article begs to ask is... how were these types of deals settled, back in the old days of Soviet Russia? I'm quite sure they didn't use dollars back then.
All in all, this is simply a reaction to the global pivot away from Russia. A number of months ago, everyone was worried about a nuclear fallout from Russia's involvement in the Ukraine. Now, Russia is being delivered up to China. If you care to differ, look at their relative GDP:
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
China's economy is 4 times the size of Russia. This needed energy deal means the divergence continues.
According to Eric Zuesse, a nuclear attack on Russia is still alive and kicking:
http://www.opednews.com/articles/Indications-that-the-U-S--by-Eric-Zuess...
China has more than 5 times the population of Russia, so having larger GDP is no great shock...
However, Russia has a much larger nuclear arsenal.
I don't think you understand the concept of "MOAR"....
Putin's Russia has been moving slowly and carefully, focusing on splitting the US and EU alliances and winning support for a non-US Fed-centered economic model, mounting peripheral defensive challenges to the Empire like Syria and Crimea when necessary, playing for time as the Empire crumbles. The Empire must not be confronted with a moment of sudden change and existential threat where they feel bound to "use it or lose it", because they're just crazy, arrogant and criminal enough to "use it".
It's like trying to survive the aging and breakdown of a tank of nitroglicerine that belongs to a mad bully with cancer. As it breaks down it grows more unstable, and as the bully's disease goes terminal so does he. AT some point either he will be outmanoeuvered and removed from the nitro room so the tank can be deactivated, or he'll force some skuffle that will shock and detonate it.
These moves on toward ending the rule of the petro-dollar are sudden enough but this moment had to come. This is our moment of greatest danger, and Putin is trying to get Russia (and the world) through it without giving the war-makers an excuse to strike. It requires the patience of a saint. To the extent Russia is a democracy it requires the patience of the people too.
We would know much less about this without ZH.
^^^ Incomprehensible
Maggie,
You might want to reread this ZH post
http://www.zerohedge.com/news/2014-06-18/putin-advisor-proposes-anti-dol...
Then check out and think about this afternoon's ZH posts including the firebombing of the German andi-Fed organizer, and Dick Cheney's nuclear threat (what else could it be to anyone who understands his role in 9/11)
Then reread my comment and see if it doesn't make more sense.
Nobody's worried about Putin. They were, a few months ago... Now it's different. Putin is clearly playing to his domestic office. The trend shows he senses domestic weakness and is doing his "Don" Quixote routine to impress the locals. International Influence and Finance is not about being a "Big Fish" in a small aquarium.
http://news.kievukraine.info/2014/06/ukraine-to-sign-eu-deal-that-sparked.html
I dont think the story is that the Ruble or Yuan have replaced USD, just that they're making moves that undermine it. If JPY/GBP/USD weren't monetising the process would be slow, as it is you could see one of those currencies pop and a sudden rush towards one CNY/RUB. As it is AUD and NZD are strengthening because they have "normal" interest rates, and haven't debased, but given the scale of their economies they're not front runners to displace the almighty dollar.
Yeah, but ZH has been running articles on their 'moves' for months and months. How come the moves don't translate into action?
Probably because their scared shitless.
Don't kid yourself... the algos are programmed to buy/support any black swan event.
In that case... "Don't fool yourself, it's going right up your..." - F. Zappa
That TopGear dude looks like my neighbor. I always hated that phucker.
If he is your neighbor, jump his ass when he pops out of his gopher hole and steal his bitchen bike.
Dude, didn't you hear me the other day? I asked you to stop posting here. I laugh too hard when I see your avatar.
;>
(good fighter, btw)
Is the US playing checkers.... or solitaire?
U.S. has already surrendered to the U.N.
Memos haven't gone out yet.
The United States is the only Global Super Power when it comes to Technological Advancements. The Damn US AIR FORCE HAS ANTIMATTER WEAPONS!!!
Can you begin to comperhend now why they cow toe to these people? Not assured mutual destruction on a road warrior style civilization... No! these weapons are assurd GLOBAL EXTENCTION!!
2000 Year from now someone could fly by and say look at the reminants of a civilization down there.... If the Russians are the Bear!! We in the United States are Surely the Bull of the Woods!
ALL YOU U.S. HATERS CAN STICK THAT IN YOUR PIPLE AND SMOKE IT! Because, Because! You know deep down in side this is really in your heart of hearts the Truth...
Now a good proportion of us like myself are trying to get a open society; and true welcomed one world civilization if the world so only chooses it. We are trying to rein in these endless wars; and benfit all of Mankind.... But Articles like this only brings out the blood boil in the American People....
best not to get too big headed
Reminds me of this in Obadiah
The pride of your heart has deceived you,
you who live in the clefts of the rocks
and make your home on the heights,
you who say to yourself,
‘Who can bring me down to the ground?’
4 Though you soar like the eagle
and make your nest among the stars,
from there I will bring you down,”
declares the Lord
^^^ BLUSTER RANT
Antimatter weapons? So, press a button, and destroy the planet? Kinda silly.
Yeah, the USA has a huge technological advantage over the Russians . . . . right. That's why over 40% of physics and engineering scientific papers are published in RUSSIAN. If you are working or doing reasearch at high levels in those fields you really need to be able to read the Russian language since vital nuances can be lost in translation.
Just because many on this forum despise the actions of the US government doesn't make us "USA haters" Quite the opposite - I love my country but fear my government.
Meanchem this line of "anybody who disagrees with you is anti-American" is so old news. Hopefully you can do better when the new training manual comes out. I can't believe they give extra credits after school in Haifa for this type jibberish. This is an adult forum, please act accordingly.
One thing for sure, count on it, the NWO will finally go down with a bang. God is not in favor of tyranny. Tyrannies do not last for too long. As our Declaration of Indepedence states, our freedoms come from the Creator. When entities, the UN, the US government in national apostasy repudiating its' heritage and Constitution, become oppresors and war against civil and religious liberty, they will learn that they made fatal choices, are fighting against the Most High - He holds the destiny of this country in His hands. Thomas Jefferson was perceptive on this point, "I tremble for my country when I reflect that God is just, that His justice will not slumber forever." Our national bankruptcy, our rapid decline and the fading of our liberties on every level make manifest that America has fallen out of divine favor and that the blessings of heaven are being withdrawn. When the peole of the United States become so blind and apathetic that they accept tyranny for opposing which their ancestors endured the fiercest persecution, it is national apostasy that can end only in nation ruin.
I don't think God really cares... He just sorts the dead ones out, at the pearly gates.
If He didn't care then He wouldn't have sent His Son to die on the cross...
" But God demonstrates His own love toward us, in that while we were still sinners, Christ died for us." Rom. 5:8
Pearly Gate? Are they locking people in?
Tyrannies are sometimes the reward for throwing God out of your country like we did in 1962, I agree. And your first suggestion is played out in Rev. 18 & 19. "Babylon the great is fallen...."
Jefferson was one of the few of them who was on the level.
BBC reporting that Russia will be supplying military aircraft before the US: Russian jets will turn tide
They're not missing a single opportunity to steal the USAs thunder.
The same kind of stuff that the US has for target practice?
Sign 'O the Times!
Gazprom will always take gold for payment. As long as Germany can settle its gas bills with gold, they will be fine. Oh wait, nevermind.... oh, but how about GOLD BACKED PROMISES to the Russians? See, we can just tell them that our gold is SAFE at the NY Fed or whereever and pretty please, keep sending us your oil and gas. No? Bummer.
Not sure how everyone here feels about gold lately, but all of this noise from Russia, China, Germany and the US is extremely bullish for physical gold!
Beans, Bullets, and Band-Aids.
You shall be needing them all very soon, my friends.
Jumpin' Vlad Flash is a gaz, gaz, gaz!
It's easy for the GAZprom CFO to say this, he probably lives in a beautiful mansion in Switzerland.
He doesn't have to worry about a US nuclear first strike.
But a precisely targeted "accident" would work wonders for negating any benefits for being in Switzerland.
Your curve ball is just not working today, time to head for the showers.
Could be good for the US and the rest of the world to let go of this shit called petro dollar. Perhaps it is time to start some healthy competition and get involved with the proper creation of real wealth as oppose to constant thievery and bullying. The wall street has to be demolished, banksters have to be jailed or hang by the balls together with their puppets politicians. Life can get real again. We can all thank Putin later for giving us another chance
You're dreaming
Don't bet on it.
The same assholes who are encouraging the next currency crash are also stacking gold in private vaults. Which they will use as collateral to buy up everything for pennies afterward. This ain't the first crash they have engineered.
Wash, rinse, repeat.
When the US exports all this crude, they better hope they don't paid in dollars.
Kruglov? Isn't that a character from a James Bond book?
So they want to settle it in Third World funny money instead of civilized currency.
Winter is going to suck for Europe.
Gazprom is just another of the many international voices that are speaking softly, but clearly, that America is descending into an unstable and non-recoverable "Socialistic State" run by a very ineffective too large and expensive "Central Government" with a "Socialistic President".
Without any real manufacturing output for export like China, Japan, S.Korea and others and, with a president who favors "Open Borders", massive dollar issuance, weakening and reduction of the "Middle Class" to levels never seen before, and, "Rule by One" as an operating structure, the world has seen this before but hardly ever done this badly!
The BRICS headed by China and Russia are considering once again a "Silk Road Economic Belt" It was renewed in Shanghai in May, 2014 between Putin and Xi Jinping and involves major parts of Europe, Asia and the maritime areas surrounding. This would make the dollar which, with this president, is being purposefully out of this invitation, become very weak against other major currencies.
We are perhaps seeing the future and it is bleak for America unless we revitalize our "Capitalistic Democracy" here at home!
Revitalization comes with immediate competition for industry here in America. Allow the States to compete without federal interference! NONE! hedgemastermb.blogspot.com