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Putin Says The Petrodollar Must Die, "The Dollar Monopoly In Energy Trade Is Damaging Russia's Economy"

Tyler Durden's picture




 

On one hand, despite initial weakness following Europe's triple-dip red alert, futures declined only to surge higher after some headline or another out of Russia was again spun to suggest imminent Ukraine de-escalation (something which Russia whose only interest is to keep crude prices high, has absolutely zero interest in), perpetuating a rumor which was set off by a Russian media outlet tweet last week that has sent S&P futures over 50 higher in less than a week on... nothing.

On the other, Putin just said the following, which no matter how one spins it, shows precisely how Russia is inclined vis-a-vis future (un-de-counter) escalations.

PUTIN SAYS RUSSIA SHOULD AIM TO SELL OIL AND GAS FOR ROUBLES GLOBALLY, AS DOLLAR MONOPOLY IN ENERGY TRADE IS DAMAGING ECONOMY

Reuters adds:

President Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia's economy.

 

"We should act carefully. At the moment we are trying to agree with some countries to trade in national currencies," Putin said during a visit to the Crimea region, which Moscow annexed from Ukraine earlier this year.

Countries such as China, India, Iran, Brazil, and virtually every other non-insolvent, that is to say "developed, Western" country.

And now, bring on the Russian "isolation" (which is about to push Europe, not Russia, into a triple-dip recession) and further de-escalation.

 

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Thu, 08/14/2014 - 08:17 | 5091485 TheFreeLance
TheFreeLance's picture

Beginning of the end, right there.

Thu, 08/14/2014 - 08:20 | 5091504 GetZeeGold
GetZeeGold's picture

 

 

A declaration of war to be sure.

Thu, 08/14/2014 - 08:29 | 5091545 knukles
knukles's picture

Another todjaso, Knukies.
And how will the ruble be priced?  In terms of gold.

OK and Germany needs how many 7 tonnes to see her through just this winter?
Mr Dudley.  Calling Mr Dudley.  Please pick up the Wolfram Salted phone.

Thu, 08/14/2014 - 08:31 | 5091566 yogibear
yogibear's picture

The NY Fed's Dudley is a piece of garbage. Corrupt beyond perception.

Thu, 08/14/2014 - 08:35 | 5091582 GVB
GVB's picture

Putin is taking one for the (golden) team/theme. 

Thu, 08/14/2014 - 08:38 | 5091597 Keyser
Keyser's picture

Well, it's not like we didn't see this coming...  Gold pops and Uncle Sugar shits his pants...

Thu, 08/14/2014 - 08:57 | 5091671 Latina Lover
Latina Lover's picture

Federal Reserve to Military Industrial Complex: 

Quick, MH17 False Flag Failed, we need another provocation.  Please arrange for a nuclear incident in the USSA to to blame on Russia. Leave a copy of Putins fingerprints on phony russian passports that somehow survive  5 million degree temperatures.  Make certain to also push anti gay agenda, and include ferguson race riots as fault of Putin.

Thu, 08/14/2014 - 09:22 | 5091805 Badabing
Badabing's picture

Putin is a dead man, he's fucking with the banks now.

Thu, 08/14/2014 - 09:29 | 5091834 dontgoforit
dontgoforit's picture

In the overall scheme of things, this means nothing.  Nothing.

Thu, 08/14/2014 - 09:33 | 5091847 ilion
ilion's picture

When will Obummer finally admit that he has lost to Putin? That would be his first sane action taken.

Thu, 08/14/2014 - 09:36 | 5091870 COSMOS
COSMOS's picture

...this means nothing

lol tell that to the people filling up their SUVs with gas at 8am when the price will hit 8 to 10 dollars a gallon, or to the farmer putting diesel in his tractors etc...

Thu, 08/14/2014 - 09:41 | 5091893 DaveyJones
DaveyJones's picture

gentlemen, start your gardens

Thu, 08/14/2014 - 09:46 | 5091917 GlobalCtzn
GlobalCtzn's picture

In your backyard only, or else be prepared to play host to a team of SWAT thugs arriving to enforce municipal code against front yard veggies..........

Thu, 08/14/2014 - 09:52 | 5091942 Son of Loki
Son of Loki's picture

... and you'll need a license from Monsanto.

Thu, 08/14/2014 - 10:14 | 5092033 gh0atrider
gh0atrider's picture

We need a one-world digital currency NOW!!

 

http://btc-e.com

Thu, 08/14/2014 - 10:29 | 5092094 john39
john39's picture

11:11 the song.  this guy nails it.

https://soundcloud.com/tiller_wills/08-11-11a

Thu, 08/14/2014 - 10:37 | 5092127 Magnix
Magnix's picture

...and Obama have been dancing and horseshitting around. http://www.weeklystandard.com/blogs/obamas-danced-nearly-every-song-good...

Thu, 08/14/2014 - 11:25 | 5092140 GetZeeGold
GetZeeGold's picture

 

 

 

Putin is a dead man

 

Have you tried to enter Russia with a nailgun?

 

It's really really hard!

Thu, 08/14/2014 - 10:28 | 5092090 john39
john39's picture

>>gardens and don't forget the poisons added to muni water....  or the shit they chemtrail.   no child left behind you know.

Thu, 08/14/2014 - 09:54 | 5091946 eclectic syncretist
eclectic syncretist's picture

MOTHERF*#@KER!!!  Can't a Brother take a multi-week golf vacation at Martha's Vineyard without these constant "global and domestic issues" interruptions???!

Thu, 08/14/2014 - 10:42 | 5092153 SRSrocco
Thu, 08/14/2014 - 11:11 | 5092294 photonsoflight
photonsoflight's picture

At least until swat has to pay for their own gas then it'll be ok.

Thu, 08/14/2014 - 11:34 | 5092429 Sages wife
Sages wife's picture

As long as you don't live in California.

Thu, 08/14/2014 - 09:43 | 5091896 Stuck on Zero
Stuck on Zero's picture

The way I look at it no one has been more hurt by the dollar dominance than the American middle class.

Thu, 08/14/2014 - 09:53 | 5091945 Vendetta
Vendetta's picture

Perhaps not so much from its dominance but the complete abuse of monetary policy and everything that flows from that abuse.  Getting crap made in foreign countries for a few dollars less at the cost of a decent job always seemed like the worst trade a person could ever make.... and its national policy vigorously defended and promoted by both corrupt political parties.  Bankers could hide the destruction of the dollar value as well so it works ... for them.

Thu, 08/14/2014 - 12:04 | 5092621 Clycntct
Clycntct's picture

"works ... " Worked.

Thu, 08/14/2014 - 12:45 | 5092839 DaveyJones
DaveyJones's picture

reminds me of oil / economic expert Nate Hagens' comment that the biggest threat to the american way of life...is the american way of life. It echoes hauntingly with DIck Cheney's declaration that the american way of life is "non-negotiable." Dick foregets just like it takes two to negotiate, it takes two to make an econoimic transaction. But Dick was always a strange boy... 

Thu, 08/14/2014 - 12:58 | 5092907 Totentänzerlied
Totentänzerlied's picture

Hundreds of thousands of innocent civilian casualties from every corner of the globe from over half a century of war, and their "lucky" relatives who survived, just might disagree.

But then again, "the way you look at it", some lives are just exceptionally more exceptional than others, I suppose.

Thu, 08/14/2014 - 09:45 | 5091911 Publicus
Publicus's picture

Putin: Checkmate

Thu, 08/14/2014 - 09:54 | 5091957 Citxmech
Citxmech's picture

More like putting it all on Red.

Thu, 08/14/2014 - 10:20 | 5092065 Winston Churchill
Winston Churchill's picture

Doubt that.

The fact he came straight out with it is very telling.Russian don't take a crap without a plan.

Whatever that pan was, its now a fait accompli ,or he would never have done this.

Thu, 08/14/2014 - 10:32 | 5092104 MsCreant
MsCreant's picture

His dollars/treasuries get killed too.

Thu, 08/14/2014 - 10:46 | 5092145 Winston Churchill
Winston Churchill's picture

I doubt that Ms.

If I was Putin or Xi ,the first thing  I would have done was pledged all my long end UST''s

as collateral at western banks,and used the loan monies on hard assets.

The UST's would still be in Chinas, or Russias name, but the western banks/govts are bagholders.

Its a Sampson option which I think they would rather avoid, but I would still have done it as

self defense.

 

Thu, 08/14/2014 - 10:57 | 5092224 MsCreant
MsCreant's picture

In retrospect, obvious (just not to me, I didn't think it out that far).

My point is that your original point is probably correct, he would not declare this beause it hurts his holdings unless his plans are well in place and under way.

Thu, 08/14/2014 - 12:40 | 5092792 DaveyJones
DaveyJones's picture

speaking of gardens....how do they grow?

the other Putin point is that he's pissed and he has a right to be. There is a breaking point for everyone and much of the world has had it with the US, its criminal control of the markets and currency, its export of inflation, it fascist democracies, it's resource wars wrapped in liberty sausage, and its stupid presidents.

History is less like the long play record,  more like the tectonic fault line. Pressure builds and builds and then something busts. Putin had to pick a point to declare economic war, or is it defense?, might as well be this one.    

Thu, 08/14/2014 - 14:01 | 5093214 Citxmech
Citxmech's picture

I'm not sure if we've ever not been at economic war with Russia (at least since the revolution anyway).  After the fall of the USSR, I think Western interests tried to move in, and since have been repelled by Putin and his backers.  It's been on ever since.  

Now it's just getting more serious as the global economy crumbles further. 

Thu, 08/14/2014 - 09:46 | 5091915 froze25
froze25's picture

http://driveonwood.com/ Gasification is most simply thought of as a process of staged or choked combustion. It is burning solid fuels like wood or coal without enough air to complete combustion, so the output gas still has combustion potential. The gas produced by this method goes by a variety of names: “wood gas”, “syngas”, “producer gas”, ““town gas”, “generator gas”, and others. It’s sometimes also called “biogas”, though biogas more typically refers to gas produced via microbes in anaerobic digestion.

You might think of gasification as burning a match, but interrupting the process by piping off the clear gas you see right above the match, not letting it mix with oxygen and complete combustion. Or you might think of it as running your car engine extremely rich, creating enough heat to break apart the raw fuel, but without enough oxygen to complete combustion, thus sending burnable gasses out the exhaust. This is how a hot rodder gets flames out the exhaust pipes.
The input to gasification is some form of solid carbonaceous material– typically biomass or coal. All organic carbonaceous material is made up of carbon (C), hydrogen (H), an oxygen (O) atoms– though in a dizzying variety of molecular forms. The goal in gasification is to break down this wide variety of forms into the simple fuel gasses of H2 and CO– hydrogen and carbon monoxide.

Thu, 08/14/2014 - 09:58 | 5091971 McCormick No. 9
McCormick No. 9's picture

I built a wood-gas generator and installed it on my 1973 Ford 1 ton truck. Advance the timing 20 degrees, convert your carburetor, and you're in business. I got the plans from Mother Earth News, modified them s as to reduce the plumbing work, and with a little welding and pipe fitting, viola! Fuck the oil industry. Getting wood that is the right size, right moisture content, etc, and learning how to dial in the proper air flow (12v blower needed on a rheostat) and ash-catchers is where all fussing took place.

Thu, 08/14/2014 - 10:09 | 5092012 LosOsos
LosOsos's picture

I'm currently working on a filtration setup with a centrifuge to process waste motor oil into useable fuel for my diesel. Veggie oil can be hard to source sometimes and you have to add heat exchangers somewhere in your fuel line to preheat it to avoid coagulation. With waste motor oil you can cut it with about 10-20 % gasoline so it has the same viscosity as diesel and then you dont' have to make any additional modifications to your truck.

 

If anyone is interested this is a pretty good primer http://www.thedieselstop.com/forums/f22/wmo-how-thread-277887/ but I'd defintiely suggest additional reading before putting a bunch of oil in your fuel tank :)

Thu, 08/14/2014 - 11:47 | 5092517 rbianco3
rbianco3's picture

<I built a wood-gas generator and installed it on my 1973 Ford 1 ton truck.>

No kidding? Sorry for the off subject comment, but how does it work? Does it drive remotely like a normal fuel combustion vehicle. That is freaking awesome by the way, nice job. I often day-dream of ways to strore natural energy say solar, something better than batteries like lifting a very heavy weight high in the air via gearing but that of course wouldn't work for a moving vehicle, lol. I just had to ask about the truck.

Thu, 08/14/2014 - 09:40 | 5091885 BaBaBouy
BaBaBouy's picture

U$$a Please Fold...

Fuck Billionaire Bankers, Wall Streeters And Bring Back The MIDDLE CLASS...

Time AGAIN For The GOLD STANDARD (Physical).

Thu, 08/14/2014 - 12:11 | 5092656 The Blank Stare
The Blank Stare's picture

Spending every fiat dollar, for a subprime CDS
If you fear the nail gun and you don't know what to do
Why don't you go where the ruble sits,
Puttin' on the ritz.

Thu, 08/14/2014 - 11:10 | 5092279 photonsoflight
photonsoflight's picture

Narcissist are always self destructive. Since he is leader of the western world that means............ He will not, can not admit failure of any kind, he will only shift blame to others.

Thu, 08/14/2014 - 12:00 | 5092594 TheReplacement
TheReplacement's picture

Why would he admit he lost anything to anyone?  He's just being flexible.  Pay attention.  Same team.

Thu, 08/14/2014 - 14:00 | 5093211 Freddie
Freddie's picture

Obama has been put there by the elites to destroy America.  Americans are sheep and support their destruction with TV viewership and Hollywood viewership.   The morons are too stupid to pull the plug.

Thu, 08/14/2014 - 09:41 | 5091857 BaBaBouy
BaBaBouy's picture

.

Thu, 08/14/2014 - 11:59 | 5092593 Frank N. Beans
Frank N. Beans's picture

You are spot on today.

Thu, 08/14/2014 - 15:13 | 5093612 DaveyJones
DaveyJones's picture

he's on his period

Thu, 08/14/2014 - 09:42 | 5091903 basho
basho's picture

On a long enough timeline the survival rate....

is that what you're trying to say?

Thu, 08/14/2014 - 09:56 | 5091962 dontgoforit
dontgoforit's picture

Yes.  The need for energy will continue to increase.  The need for dollars in foreign lands will continue to diminish.  Ultimately the trade is done via several vehicles based on the value of the currency at the time of the transaction.  Dollars, rubles, yuan, yen - doesn't really matter.  QE has dimished our dollar's worth.  That's not lost on the other countries of the world.  Trade continues - it's for sale to the highest bidder.  Dollar is getting anemic due to the Fed.  But life will go on - even with $8/gal gas.  It will hurt many, but this is why the Fed should never have existed in the first place.

Thu, 08/14/2014 - 09:38 | 5091878 froze25
froze25's picture

I am not so sure that banksters aren't behind this.  It is only a matter of time before the US "Dollar" is destoryed just by mere mathmatics of how the system works.  To slide into another system to begin again they need this to happen.

Thu, 08/14/2014 - 12:00 | 5092592 KnuckleDragger-X
KnuckleDragger-X's picture

They are working under the assumption that they can control the outcome because their computer models  say so. Too bad that pesky reality thing is likely to show up unannounced.

Thu, 08/14/2014 - 12:04 | 5092616 TheReplacement
TheReplacement's picture

Maybe we're talking about three distinct sets of bankers here.  There are the bankers that we use.  There are the bankers that the bankers use (CBs), and then there is the Iron Bank. 

Thu, 08/14/2014 - 10:46 | 5092175 realWhiteNight123129
realWhiteNight123129's picture

Putin has a couple of things going for him:

1. Tons of Oil

2. Tons of Gas

3. NO debt in his economy.

4. Tons of Nukes

5. Tons of S-400 which make US airforce irrelevant, or at best good fireworks at night. 

6. Russia does not have the capability to attack the US, but the US attack capability is muted by his arsenal.

7. Some balls unlike most of the spinless Western politicians.

 

Thu, 08/14/2014 - 11:26 | 5092361 Anarchy 99
Anarchy 99's picture

#6 really?  subs with nukes?

Thu, 08/14/2014 - 12:50 | 5092860 trulz4lulz
trulz4lulz's picture

#6 really?  subs with nukes?

Shhhhhhh...Be vewy, vewy qwiet....I'm hunting waskely wabbits.

Thu, 08/14/2014 - 16:06 | 5093921 Moustache Rides
Moustache Rides's picture

Didn't you get the memo?  that was a contrail from a jet. This guy said so and he's an asian scientist.

 

https://www.youtube.com/watch?v=cWjFrOVuLmU

 

/sarc

Thu, 08/14/2014 - 14:13 | 5093270 shouldvekilledthem
Thu, 08/14/2014 - 12:33 | 5092771 Lumberjack
Lumberjack's picture

If anything happens to Putin... I would imagine that things would get really bad really fast.

Thu, 08/14/2014 - 13:55 | 5093189 Hephaestus
Hephaestus's picture

Oh.......Oh yes......that would be a certainty!

http://en.wikipedia.org/wiki/Dead_Hand_(nuclear_war)

Thu, 08/14/2014 - 10:43 | 5092161 drdolittle
drdolittle's picture

at LatinaLover: funny. But seriously, the passports could just fall out of the plane prior to nuc detonation. A buncha dumbasses will buy that shit

Thu, 08/14/2014 - 13:03 | 5092934 Uncle Sugar
Uncle Sugar's picture

Was $2 Bud night at the Mexican place too.  Not a pretty sight.

 

Thu, 08/14/2014 - 08:37 | 5091598 Headbanger
Headbanger's picture

No wonder Germany wants its gold back from us!

They need it to pay their gas bill this winter!

Thu, 08/14/2014 - 08:50 | 5091650 GetZeeGold
GetZeeGold's picture

 

 

As of this posting....they still don't have either one nailed down.

Thu, 08/14/2014 - 09:49 | 5091927 Keyser
Keyser's picture

The lynch pin for the PetroDollar is Saudi Arabia... If they fold, the US is done... 

Thu, 08/14/2014 - 10:03 | 5091988 Citxmech
Citxmech's picture

Wonder if Putin has any plans there - now THAT would bring things to an entirely new level.

Thu, 08/14/2014 - 14:12 | 5093276 Not Too Important
Not Too Important's picture

The family removed Bandar to appease Putin. The Russians will remove the House of Saud anytime they want, after Bandar I doubt they care much.

Thu, 08/14/2014 - 10:52 | 5092205 AZLagun
AZLagun's picture

And that is the next stop on the ISIS train.

Thu, 08/14/2014 - 11:41 | 5092478 Keyser
Keyser's picture

Could it be that ISIS serves multiple master? The military leader of ISIS is from Chechnya after all...  Things that make you go hmm....

Thu, 08/14/2014 - 08:34 | 5091571 VATICANT
VATICANT's picture

This is only the march toward war. Lunatic Barack will be the one to launch the icbms

Thu, 08/14/2014 - 09:16 | 5091766 dontgoforit
dontgoforit's picture

I don't believe the Joint Chiefs will follow his orders unless the other side has launched first.  If anyone launches, it will be hell on earth for sure.  I'd rather die in the first salvo than in the weeks after.

Thu, 08/14/2014 - 09:51 | 5091937 Keyser
Keyser's picture

Hardly, the US strategy on nukes went from a defensive posture only to be used if attacked first, to today where nukes are considered an offensive weapon which can be used for first strikes... 

Thu, 08/14/2014 - 10:02 | 5091986 dontgoforit
dontgoforit's picture

Could be, but they won't.  Unless there were no other choice.  MAD policy worked throughout the cold war and is still intact today.  Difference is there are at least 16 nuclear capable nations now. 

Thu, 08/14/2014 - 10:17 | 5092047 TheMeatTrapper
TheMeatTrapper's picture

Your faith in the Joint Chiefs is misplaced. They haven't lifted a finger to defend our borders. Not even a resignation in protest at the complete abandonment of the rule of law by the Commander in Chief. What makes you think they will refuse an order when they'll simly be replaced with someone who will?

The military is as failed an institution as Congress and the courts.

Thu, 08/14/2014 - 10:32 | 5092103 dontgoforit
dontgoforit's picture

They want to live just as much as we do.

Thu, 08/14/2014 - 10:34 | 5092117 Keyser
Keyser's picture

There is already skuttlebut on the net about how the pentagon wants to lure Russia into a shooting / tactical nuke war in Ukraine... The plan is for the US to pose a false-flag battlefield nuke threat in eastern Ukraine and blame it on Putin... The US then strikes to ports in Crimea, effectively shutting down Naval activity in the Black Sea and pinning Russia's southern fleet... If you think this is BS, it may be, but from the current rhetoric out of the psychopaths in DC, I would not be surprised... After all, they overthrew the gov of Ukraine and shot down MH17... 

 

Thu, 08/14/2014 - 09:10 | 5091737 samsara
samsara's picture

Tungsten Salted?

Thu, 08/14/2014 - 08:28 | 5091548 FinalEvent
FinalEvent's picture

We will have to wait much longer for my name to happen.

Thu, 08/14/2014 - 09:17 | 5091770 Eyeroller
Eyeroller's picture

The longer we wait, the more devastating it will be.

Thu, 08/14/2014 - 08:29 | 5091549 Silky Johnson
Silky Johnson's picture

The gloves just came off. FUCKIN GO TIME!!!!

Thu, 08/14/2014 - 10:05 | 5092002 Citxmech
Thu, 08/14/2014 - 08:48 | 5091647 Cocomaan
Cocomaan's picture

Remember, this is what Gaddafi was suggesting in the year before he was taken out.

Thu, 08/14/2014 - 09:08 | 5091731 Debugas
Debugas's picture

Gaddafi did not have nookular weapons to back his words up with

Thu, 08/14/2014 - 09:13 | 5091750 barre-de-rire
barre-de-rire's picture

wise add.

 

curious to see end of the movie.

Thu, 08/14/2014 - 09:13 | 5091755 barre-de-rire
barre-de-rire's picture

------> good end, blue pill
------> bad end, red pill

Thu, 08/14/2014 - 09:36 | 5091873 CuttingEdge
CuttingEdge's picture

Gadaffi also didn't have the one thing Russia has which the States can do absolutely fuck all about for all their efforts at global control...

Land border access to the two most populous nations on earth - China and India (through China), neither of whom are of a friendly disposition towards the US. Looking on 20 years, I know who I woud want to be trading with in a choice between 2.5 billion consumers and a bankrupt US with a pop around 300 million and declining middle income wealth...

Now if only the EU would tell the US to go fuck itself sideways and we'll all be happy (other than the neocons).

 

Thu, 08/14/2014 - 09:50 | 5091934 BigJim
BigJim's picture

The NSA have too much on the EU 'leadership' - they won't be wandering off the reservation any time soon.

Thu, 08/14/2014 - 10:30 | 5092098 fervent in spirit
fervent in spirit's picture

The author of that site is a false prophet and a liar.

"To the law and to the testimony: if they speak not according to this word, it is because there is no light in them." (Isaiah 8:20)

Thu, 08/14/2014 - 11:03 | 5092242 fervent in spirit
fervent in spirit's picture

.

Thu, 08/14/2014 - 09:38 | 5091880 basho
basho's picture

libya <>RU

should be obvious

no?

Thu, 08/14/2014 - 10:14 | 5092037 toady
toady's picture

Russia, but the precident has been set. Anyone who threatens to abandon the petrodollar will be "dealt with".

Thu, 08/14/2014 - 08:50 | 5091656 The Wizard
The Wizard's picture

Who said it, currency wars lead to hot (military) wars. This time around it appears the jig may be up uncovering those stealing the wealth using currencies and military in order to gain control. The question is what side is Putin on. Russia and China are not bastions of liberty.

Thu, 08/14/2014 - 09:04 | 5091716 LawsofPhysics
LawsofPhysics's picture

"Russia and China are not bastions of liberty"  -  Not sure I would completely agree with that statement.  I am in Russia for several weeks each year, China as well.  What I can say, is you know exactly what to expect.  You really think there's a difference between a bribe and an unfair tax?

Good luck with that logic.

Thu, 08/14/2014 - 09:47 | 5091924 DaveyJones
DaveyJones's picture

and your next business trip is to Ferguson

Thu, 08/14/2014 - 11:35 | 5092442 LawsofPhysics
LawsofPhysics's picture

Please, go fuck yourself, or tell me what goods or services of real value ferguson has to offer.

What's going on there is a horrible injustice and a conveinent fucking distraction that allows the real criminals to continue doing what they do.

Thu, 08/14/2014 - 15:16 | 5092918 DaveyJones
DaveyJones's picture

you missed the sarcasm

I was agreeing with you

you do know what I do for a living?

Thu, 08/14/2014 - 10:37 | 5092130 The Wizard
The Wizard's picture

Good point. I can't argue with your logic. It is definitely better to be forwarned and aware you are being enslaved and ripped off rather than being deceived into thinking you're not being enslaved and ripped off by living in an illusion of liberty. "None are more enslaved than those who think they are free". How's that for some logic.

Thu, 08/14/2014 - 11:34 | 5092427 LawsofPhysics
LawsofPhysics's picture

Exactly.  Just sad when black markets become a more effective mechanism for true price discovery.  Even sadder when it becomes "easier" to do business in such an environment.

Thu, 08/14/2014 - 09:34 | 5091864 basho
basho's picture

how about Putin being on the side of RU? ever occur to you?

Thu, 08/14/2014 - 10:11 | 5092028 LawsofPhysics
LawsofPhysics's picture

Trade is the only thing that matters, period.  What is this "side" shit?

Thu, 08/14/2014 - 13:36 | 5093103 The Wizard
The Wizard's picture

I guess I should have been more specific. Apparently my message is taken with multiple meanings. It's not a matter of what political side one exists.

Is Putin on the side of righteousness or unrighteousness. In that both Russia and Chinese governments are a basis for central planning which runs counter to free markets there is a question where these governments and their agents sit when it comes to true liberty. I categorize liberty and free markets, on the scale of righteous vs. unrighteous governments, on the righteouness side. The reverse goes for markets that are manipulated and planned. Are you trying to say that Putin is on the side of liberty and free markets.

Thu, 08/14/2014 - 11:54 | 5092561 silvermail
silvermail's picture
  Do you sincerely believe, that the United States right now is a bastion of liberty?! LOL
Thu, 08/14/2014 - 08:53 | 5091669 LawsofPhysics
LawsofPhysics's picture

Well, Putin is correct, the question is does he want to promote the use of PMs?

Do tell Mr. Putin, do tell.

Thu, 08/14/2014 - 09:22 | 5091801 sessinpo
sessinpo's picture

LawsofPhysics   Well, Putin is correct, the question is does he want to promote the use of PMs?

Do tell Mr. Putin, do tell.

----

I highly doubt it. The Ruble is just another fiat currency that government wants because they can manipulate it and control people.

I have been right so far about PMs.

I am probably right about bitcons

I was right about this being a currency war

Nothing new here. History repeating itself.

 

Thu, 08/14/2014 - 09:33 | 5091860 basho
basho's picture

congrats on being so right so often :)

Thu, 08/14/2014 - 10:10 | 5092019 LawsofPhysics
LawsofPhysics's picture

NO shit sherlock, that was my point, all this talk about the "evil dollar" all the while promoting their own fiat.  The take message is that fiat isn't evil, it's that all governments who use it are.

Thu, 08/14/2014 - 09:43 | 5091908 NeverForgetSilver
NeverForgetSilver's picture

It is ideal to use PM for international trade and use fiat for domestic trade in my opinion. This is what was going on in US from 1933-1971. We may have to return to that since US has abused its newly acquired "freedom".

Thu, 08/14/2014 - 09:13 | 5091751 silverer
silverer's picture

Actually, I see it as a declaration of peace.  The rest of the world will finally break free of 40 years of U.S. abuse and hegemony. We hold the world record for the killing of innocent civilians.  The future has turned to the east.  Neither China or Russia want war.  We always want war, we've been pushing it in the world's face for years.  Our goal has been to disrupt and take over every world situation we can, in every country that offers some valuable resource or key to a strategic position, so we can go in and loot.  This is coming to an end, finally.

Thu, 08/14/2014 - 09:36 | 5091871 1000yrdstare
1000yrdstare's picture

Looks like Carl Rove and Dick Cheney down voted you...

Thu, 08/14/2014 - 12:23 | 5092704 Franktastic
Franktastic's picture

I was raised to believe America was great, now after 30 years of un-brainwashing...learned that I was raised in the land of the devil...eyes wide open.

Thu, 08/14/2014 - 12:23 | 5092717 KnuckleDragger-X
KnuckleDragger-X's picture

The third world is the problem. Most of those countries don't like each other and exist under strongman autocracy. Russia and China while strong countries within their borders and strategic area's surrounding them are limited at projected power. china especially is relying heavily on deals they are making with countries they lack the ability to project power over. That has been America's great advantage, the ability to project military force around the world but that is going away quickly. Russia has experience extending power by proxy and can likely go the colonialist route. China has always been an inward facing country and lack the experience and skill set to project power at a distance. Should be interesting times...

Thu, 08/14/2014 - 12:23 | 5092715 Kirk2NCC1701
Kirk2NCC1701's picture

Sure people saw this train coming, but Kirk was the first to say:

> Petrodollar is trying to become ENERGY-DOLLAR, to maintain its fiat growth model and to have it rule the world.

> Rather than turn off the gas to the EU, it must and will sell it for Rubles and gold. This mortally hurts the Dollar and maintains Europe's pivot to Asia.

> The way to bring the Fed and its MIC to its imperialist knees, is to demote the USD from GRC status to RRC status.

Thu, 08/14/2014 - 08:21 | 5091505 TahoeBilly2012
TahoeBilly2012's picture

Herr Rothchild just spit up his baby heart porridge.

Thu, 08/14/2014 - 09:03 | 5091712 jbvtme
jbvtme's picture

eexcellente

Thu, 08/14/2014 - 10:21 | 5092071 F0ster
F0ster's picture

Herr Rothchild owns a lot of Gold

Thu, 08/14/2014 - 08:22 | 5091513 linniepar
linniepar's picture

This is the headline I was looking for to justify dropping a grand on toilet paper this weekend. 

Thu, 08/14/2014 - 08:41 | 5091617 chunga
chunga's picture

Hey all you BRICS or others who might want to play...

Unless you have nukes, don't be surprised if all your planes crash or just disappear into thin air.

Thu, 08/14/2014 - 09:13 | 5091757 silverer
silverer's picture

Isn't that the truth?!

Thu, 08/14/2014 - 09:33 | 5091792 gatorboat
gatorboat's picture

Yes nukes will be the protector for the new asian monetary system, keeping certain western nations from using their conventional military to bully smaller nations into staying with USD.

Of course we'll never hear about it.  We'll just see evidence of it.  Certain western nations suddenly decide to withdraw their forces for "humanitarian" reasons.

Saddam didn't have nukes.  Ghadaffi didn't have nukes.

Iran doesn't need nukes.  Russia and China will gladly lob a few whereever Iran wants.

Thu, 08/14/2014 - 09:42 | 5091901 chunga
chunga's picture

The TV people will tell us they are "rogues" and terr'ists 24/7/365.

Thu, 08/14/2014 - 09:51 | 5091938 RaceToTheBottom
RaceToTheBottom's picture

Swift transactions will mistakenly disappear for those "troublesome" members of the world community.

 

Thu, 08/14/2014 - 08:22 | 5091514 Dr. Engali
Dr. Engali's picture

The beginning of the end was in 1913 with the creation of the fed.

Thu, 08/14/2014 - 08:54 | 5091677 Ratscam
Ratscam's picture

The beginning of the end came earlier on Aug.29, 1897 in Basel with the first Zionist Congress under Theodor Herzl, sponsored by the Rothschilds.

Thu, 08/14/2014 - 09:14 | 5091758 Bioscale
Bioscale's picture

I was wondering why Bank of International Settlements is located in Basel... now I know, thanks.

https://en.wikipedia.org/wiki/First_Zionist_Congress

Thu, 08/14/2014 - 09:19 | 5091789 LasVegasDave
LasVegasDave's picture

Yes, we all know that the zionist congress some 117 years ago is what is holding you back. 

You coulda really been some kinda player if it wasnt for those damned Yids.

Maybe reparations?

Thu, 08/14/2014 - 09:53 | 5091950 BigJim
BigJim's picture

Good idea! The 'reparations' shtick has certainly worked well for Israel.... and everyone else involved in the Holocaust Industry.

Thu, 08/14/2014 - 09:56 | 5091959 Ratscam
Ratscam's picture

"You Don't Have To Be Jewish To Be A Zionist" Joe Biden

www.youtube.com/watch?v=1vDx-5b7T8M

There is a difference between Judea religion and the Zionist movement, capiche!

Thu, 08/14/2014 - 08:22 | 5091517 Squid-puppets a...
Squid-puppets a-go-go's picture

carn Putin - pull the trigger - demand phyz gold/silver for oil/gas YEA LETS GEDDIT ON!!

Thu, 08/14/2014 - 08:39 | 5091600 Bangin7GramRocks
Bangin7GramRocks's picture

You know. Money can be invented by the FED in any currency. It's all fake, so Yellen will start "printing" rubles, yuan or even dong if need be. Trying to understand this period in history with logic is just insane. These are just symbols in a computer after all. Not backed by anything.

Thu, 08/14/2014 - 09:57 | 5091965 BigJim
BigJim's picture

Er, no. Rubles are'printed' by banks within the Ruble currency area, ie, those that are part of the Russian Central Bank system. Yellen can no more 'print' electronic rubles than Russia can 'print' electronic USD.

Actual cash rubles, yes, they could counterfeit it. But that's a different story.

Thu, 08/14/2014 - 10:47 | 5092184 MsCreant
MsCreant's picture

Just got my mind blown. 

They can, old fashioned, "print" anything. The money will move a whole lot slower, but they can do it...

Fuck all...

Thu, 08/14/2014 - 12:09 | 5092636 BigJim
BigJim's picture

Always happy to blow anything you'd like, Ms C ;-)

My understanding is the Norks have been counterfeiting USD for years. I'd be surprised if Russia and Iran weren't, as well. I imagine with the resources of a nation state they'd make pretty convincing copies.

But the amounts they can feasibly create (and inject into the economy) doing it this way are as chump change compared to the Fed and the Fed-licensed banks in the USD currency system... so attempting to destabilise the USD this way isn't practical. Can buy some toys and influence, though.

Thu, 08/14/2014 - 12:35 | 5092785 MsCreant
MsCreant's picture

Yeah, my head went in the opposite direction. We surely can "print" any currency we wish, Rubble, Yuan, etc. Way too slow, but we can do it.

Thu, 08/14/2014 - 08:57 | 5091689 IronShield
IronShield's picture

Let's see; if the dollar dies then we will necessarily return to a meritocracy.  Hmmm...  Kiss the service industry goodbye.  And that especially includes the FIRE 'industry'.  I realize not everyone can be an Engineer, but you had better damn well have a skill that will be in demand and actually produces something useful.

Thu, 08/14/2014 - 09:58 | 5091973 BigJim
BigJim's picture

The FIRE industries serve necessary market demand... just not in the present size.

I agree though, 90% of those jobs would vanish if we had a sound currency.

Thu, 08/14/2014 - 12:31 | 5092760 KnuckleDragger-X
KnuckleDragger-X's picture

Depends on the service. I trained as an electrical enginneer/computer science but I get the feeling that the skills I learned growing up on a farm are getting ready to be much more useful.

Thu, 08/14/2014 - 09:27 | 5091829 LostandFound
LostandFound's picture

If he is quoted properly.....'petrodollar must die' will be deemed an act of War.

Get ready people. this isnt going to end well.

Thu, 08/14/2014 - 09:28 | 5091831 negative rates
negative rates's picture

One mans ending is another mans beginning.

Thu, 08/14/2014 - 09:31 | 5091843 1000yrdstare
1000yrdstare's picture

PUTIN= Honey badger....

and honey badger don't care...

Thu, 08/14/2014 - 09:34 | 5091861 rubiconsolutions
rubiconsolutions's picture

I certainly don't have the chops of, say, Paul Krugman but does the world really need a reserve currency? Can't it get by with bilateral trade agreements...or trilateral or whatever? Why does there have to be a reserve currency when all that has proven to do is bolster empires and foment discord?

Thu, 08/14/2014 - 12:29 | 5092741 Clycntct
Clycntct's picture

"Why does there have to be a reserve currency when all that has proven to do is bolster empires and foment discord?"

You ask and you answer,multitasker.

Thu, 08/14/2014 - 10:19 | 5092057 starman
starman's picture

"Inconceivable!" 

Thu, 08/14/2014 - 11:31 | 5092408 kchrisc
kchrisc's picture

Rothschilds aren't going to like them apples.

An American, not US subject.

 

 

Thu, 08/14/2014 - 11:39 | 5092458 tony wilson
tony wilson's picture

neva udder estimate der strate tegees of der rabbi.

der torah torah tora bora and der babal lonesome talmud have a force even stronger dan george lucas and stefan spielberger gripping der own moth eatin kosher wallets.

der rabbi and der cockroach can survives a nucllear wars dat is a rupert murdoch fox bbc fact.

Thu, 08/14/2014 - 14:03 | 5093224 Two Theives and...
Two Theives and a Liar's picture

Disagree...the "beginning of the end" was when the Fed was chartered in 1913....damn that Woodrow Wilson!

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