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.


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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TheFreeLance's picture

Beginning of the end, right there.

GetZeeGold's picture



A declaration of war to be sure.

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.

yogibear's picture

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

GVB's picture

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

Keyser's picture

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

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.

Badabing's picture

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

dontgoforit's picture

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

ilion's picture

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

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...

DaveyJones's picture

gentlemen, start your gardens

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..........

Son of Loki's picture

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

gh0atrider's picture

We need a one-world digital currency NOW!!



GetZeeGold's picture




Putin is a dead man


Have you tried to enter Russia with a nailgun?


It's really really hard!

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.

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???!

photonsoflight's picture

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

Sages wife's picture

As long as you don't live in California.

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.

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.

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... 

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.

Citxmech's picture

More like putting it all on Red.

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.

MsCreant's picture

His dollars/treasuries get killed too.

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.


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.

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.    

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. 

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.

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.

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 :)

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.

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).

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.

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.

TheReplacement's picture

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

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.