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Putin Says The Petrodollar Must Die, "The Dollar Monopoly In Energy Trade Is Damaging Russia's Economy"
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
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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Putin: "Checkmate"
Barry: "Queen me"
Barry will not even understand the implications of this move. The "folks" from Treasury and the Fed will try and try their damnedness to explain it to him, but all to no avail. He's economically and financially deaf.
Where's Timmah when we need him?
yes, kids, it's that bad
Barry will understand that he needs reggies special pacifier.
queer* me
Can't "do" what has already been done.
[The old definition of the word works well here].
Wookie: Can I join in for a threesome?
Did you brush your teeth today? If so, game on.
You really think Putin wants a threesome with Michelle and Barrack? I know I don't.
Barry has given up checkers and is now playing solitaire.
Go fish...
The banksters are not going to like this.
What makes you think Putin doesn't work for his own Bankers?
True, however all banksters don't necessarily want the same thing at the same time.
And that will get worse. Kill your fellow criminals you scumbags.
Chuck Norris got frightened of Putin when he ate a banker alive in front of him.
I thought his mistress was a beautiful model, not a banker.
Olympic rhythmic gymnast, turned politician.
Nice present, your boyfriend brings the Olympics to your country. Way better gesture than furs or jewels.
Banksters are whores, they'll get over it and search for profit with increased energy and f/x derivative product offerings. Banksters tied to Washington and London may have a harder time and find themselves effectively shut out of new markets by US sanctions. Politicians in Washington are another story...
No doubt. Goldman Sachs will change it's name and move their operations center to Moscow without any hesitation. In fact, Barry should send them on their way already.
Your wrong UR, whores tend to provide value for service, banksters provide neither value nor service.
Some likely have been planning for it... opportunities abound playing both sides of the fence when it comes to fiat.
Bathhouse Barry says FORE!
Just trade it in gold, buddy.
Only so much of that crap....get thee some.
You can't print gold.
There's plenty of gold. Just not at this dollar price of gold.
Not a lot of people can grasp that fact....but you summed it up nicely.
+1 for pithy.
I agree -- that was well said and quite compelling, pithy and true. I have always said You will not get the gold out of my hands until I need it to survive : and one ounce a month should enable me to exist : two ounces/month if I want to thrive and three ounces/month to jive.
That obviously is not your gold.
NR Yes you are soooo right, I am glad you can so easily recognize the type.
I am just a poor useless tit and that must piss you off because nobody likes a mirror.
The propaganda was running thick on CNBS this morning. They really want to blame the woes of the world on Putin and take him out.
It has been obvious for a long time. The build-up media campaign to this crisis started like a year before with gay rights. This crisis is so obviously enginereed.
I'd rather see the woes of the world taken out on the likes of CNBS for their irrepentant unceasing propaganda and downright stupididty
Doc....stop listening to cnbc....will turn your brain into moosh...
I'm still lamenting Lauren Lyster selling her fine ass to Yahoo!
I like to every now and then for a little comedy relief.
Necessary every once in a while to tune in turn off and pass out to ensure that one knows what the "propagandized official" party line is....
Otherwise you get stucked in your own rabbit hole not knowing which way is truth
You neeed to know what the sheep think - and why - if you are to have any hope in waking them up.
Hey Beetle, are you standing in for Freddie this morning?
no...found some airplane glue and .....
Ding, Ding, Ding. Let's get ready to rumble. Shit is about to start going down.
Ivan Drago to Rocky "I must break you!"
Putin- "I must break petro-dollar!"
It will be interesting to see if anyone (Putin or China) will do anything with gold.
Everyone wants the power the US has had through it's fiat.
There are no and never will be saints in this world. It is amusing that people keep searching for them.
Yes, this is just it. If Russia and China can get the rest of the world to accept their fiat currencies instead of USD, they'll be ahead.
But, failing that, would they still be ahead if they managed to get everyone to switch to gold? I'd say yes, just not as much.
But so many monetary economists are utterly ignorant about the gold standard and its advantages, they may have a hard time being convinced that it's in their interests to switch.
What's to stop them from doing what worked last time? Start out gold-backed, then default sometime far in the future after everyone trusts you and a shitload of international trade arrangements are in place. Worked for the US and since most have no clue what happened, seems fine to work again.
I dispute the need for any "world reserve currency" whatsoever.
Yes, I think any state-created currency is likely to suffer this fate. But you have to remember - the US was able to do this because after Bretton Woods, it alone was pegged to gold (supposedly). If the other countries had pegged their currencies to gold rather than USD, the US wouldn't have gotten away with it.
Apmex delivered yesterday afternoon....
C'YA BITCHEZ!!!!!!
Midway USA delivered metals to me yesterday afternoon also. Mostly lead.
I'm waiting on some shaped brass alloy myself...
Ding, Ding, Ding. Let's get ready to ruble! :)
I see what you did there. Cleaver.
Ivan Drago to Rocky "I must break you!"
I wonder if average Joe and Jane would read this would realize what it means.
well...
I'm pretty sure they wouldn't....
Average Joe and Jane probably couldn't even read this article.
Average Joe and Jane are reading CNBC headlines about how futures are up because Putin said he had no plans for military invasion in Ukraine and will BTFD and BTFATH.
And they'll be right. Until they aren't.
They were getting ready to put boots on the ground, but had to reverse due to a flack attack from the rest of the citizens.
Average Joe and Jane will never see this coming.
They'll be digging sea shells on the beach when this tsunami hits.
Look honey! I'll make these two cute little sand dollars into earrings and they'll match my necklace beautifully!
Most won't get it after you explain it to them 3 times.
That's been my experience anyway.
And when you do try they look at you like your some kind of wacko
That's bcs if you don't talk the sheepish sheeple talk to a sheep, obviously you're considered a wacko non-sheep by the sheeple.
>> look at you like your some kind of wacko
Well, you can hardly blame them. Gold, guns and beans has hardly been the right choice. Mainstream choices have far out performed. I know, until they don't. I've got mine, I'm prepped, I'm growing my own food and all that. But on the surface I do look like a wacko. At this moment I would have been vastly better off to have been in stocks, to have been in residential real estate in a major city, and to be buying my groceries at Publix. Tomorrow could be a whole 'nuther story, then that wacko reputation might come in handy.
Average Jane and Joe are trying to just stay alive at this point and go about their daily affairs, while trying to enjoy their family. As you know, the system is set up to distract, divide, and obscure root causes of average Jane and Joe's misery. Try telling average folk about the real cause of their hamster wheel life and the eyes fog over. Besides, it's football season, baseball season is ending, Jebron Lames is coming back to Cleveland, Katy Perry is touring, and bitch ass wives need to charge their credit cards on a shopping spree for shit they don't need. The zombie apocalypse has arrived in all it's glory and the government has everyone surrounded. The tipping point, if there will be one, would have to be pretty fucking huge to wake the masses and even then the people will have little recourse for remedy. All hail the might dollar. When that doesn't work the police and military have contingencies. 'Takes a swig of Jack Daniels'
i enjoyed that...
depressing as it was...
funny how the truth does that form time to time isnt it...
No. They will call you a traitor conspiracy theorist, a doomsdayer, make a joke or two about a tin foil hat, and then go back to talking about the 49ers and how Kim Kardashian wants another child.
Sounds like "conversations" I have with my Progressive friends. Accompanied by blank looks. Lotsa blank looks. Really blank looks.
I think just accepting the truth of things is just too much for the average joe.
God Help them all.
Most people do not really want freedom, because freedom involves responsibility, and most people are frightened of responsibility.
Sigmund FreudThe average Joe and Jane can't read anything besides text lingo.
Forget about what the average Joe and Jane realizes, probably wouldn't fill a thimble.
I wonder what the average Barrack and Nancy realizes. Not too optimistic there.
No one has ever said it this blatantly and they got offed just the same. Methinks this time it will be different...
Ha, whoever the 'assassin' is, I imagine he won't be too happy with THAT assignment...
Good luck with THAT.
i think Putin is about 10,000 times tougher than Saddam or Khadaffi.
"i think Putin is about 10,000 times tougher than Saddam or Khadaffi."
Only 10 000 times? I mean Putin has a brain and an army. The two poor dead sods you mention had none.
Vlad puts in practice the basics of strategy : you want me to fight **here** (where you know you'll defeat me) I'll fight **there**, taking you by surprise.
**here** = an old-fahioned conventional war
**there** = a silent deadly war on the eco turf. Ultimate
aim : make the U.S. go bankrupt.
Chuck Norris genuflects to Vlad and backs out of the room bowed.
Additionally; Putin has allies.
Financial, military, energy, agricultural, etc, etc ALLIES.
Saddam & Khadaffi did not.
Putin has allies and... Leverage.
Weapons. Don't forget weapons.
An old saying applies
"Russians are slow to saddle the horse but ride fast."
The cuts against the petrodollar have been coming fast over the last few months. Gazprom contracts priced in NC, targeted sanctions, new food deals priced on NC, energy deals prices in NC and finally this.
"Russians are slow to saddle the horse but ride fast."
Ride on Russia and save the world ... again.
@BlindMonkey
Might want to exercise that attention span.
You'll find it more interesting now.
I'll hit it this weekend. I will make my fiance translate too. :)
"Ultimate aim : make the U.S. go bankrupt."
I find the correlation between what Reagan/Thatcher/Johnny Paul Deuce did to USSR and what Putin is attempting today rather ironic...or completely planned.
US is already bankrupt. Putin just wants the rest of the world to realize it. The US politicians played a key role in gutting the manufacturing sector so that when the dollar is rejected as a reserve currency, recovery in the US will take that much longer. But hey, that T-shirt made in bangladesh is $3 cheaper than if it was made in the US.
"...Ultimate aim : make the U.S. go bankrupt."
They are only exposing what the US has already done to itself.
Gaddafi thought he'd successfully reinvented himself in the eyes of the West. Big mistake. Saddam knew full well that when you fuck with the Empire, they won't stop gunning for you...but he didnt give a damn anyway. Putin has nukes behind him so really he cannot be touched directly. Also, he's proven way too smart for the Western gangsters when they tried that proxy war shit on him. Chechnya - won, South Ossetia/Georgia - won, Syria & Ukraine - uncertain right now, but likely Russia victory in the end.
de-escallation my ass.
good luck guys long spoos.... you will need it.....that door wont be big enough
um no, i think you'll find it to be corruption and oligarchs more like...
I hope he doesn't end up like all those other leaders who tried to bypass the dollar. Surely he has a better plan than what they had.
all those other guys that tried to bypass the dollar never had a military
or nukes, let's not forget those. The only thing the US oligarchs are scared of are nukes for some reason...
If he gets offed I'll bet there's people lined up behind him that will be less patient in dealing with the geopolitical game, he's holding them back not the other way around
I do wonder what would happen if Putin died suddenly. Would another zoligarch appear from nowhere and assume power like in Ukraine?
Maybe the next guy in the chain of command at Gazprom?
"I hope he doesn't end up like all those other leaders who tried to bypass the dollar"
Bypassing it? Vlad wants to destroy it! HA!
Shit happens when you're self absorbed.
Odd how those sanctions relating to the dollar are leading to Russia not wanting to do trade in dollars. Very odd. Stuck on stupid can't even plan a half a ply ahead in this game.
Not what Janet Yellen wanted to hear. How will the Fed hold interest rates near zero forever if the world does not need dollars to buy energy? Do you really believe that US 30 year bonds will not default given the massive US unfunded liabilities of $1,260,000 per taxpayer and rising at $70,000 per year?
The demonization of Putin will be ratcheted up a few notches now.
http://www.globalresearch.ca/the-demonization-of-russias-president-putin...
Since the beginning of the week, the three most influential mass circulation newsmagazines of the United States, Britain, and Germany—Time, The Economist, and Der Spiegel—have published cover stories that combine wild accusations against Vladimir Putin with demands for a showdown with Russia.
The most striking and obvious characteristic of these cover stories is that they are virtually identical. The CIA has scripted them all. The stories employ the same insults and the same fabrications. They denounce Putin’s “web of lies.” The Russian president is portrayed as a “depraved” mass murderer.
http://www.wsws.org/en/articles/2014/07/30/pers-j30.html
The unfunded liabilities are overstated... changes to government provided healthcare will ensure that no one can use it and after SS distributions get means tested, among other countermeasures, the picture isn't as bad... how not as bad is up for debate...
Well, Kotlikoff has them twice as large as the conservative numbers I have used and growing a lot faster
http://www.bloomberg.com/news/2012-08-08/blink-u-s-debt-just-grew-by-11-...
The unfunded liabilities are overstated
Heh heh.....what the hell are you smoking?
Come on, it's MachoMan! He's not smoking, he has been smoked.
Yes, but if those items cannot be inflated away, then what do you think will happen to them? What happens to unfunded liabilities with no chance of repayment? Do you think that the programs might be changed a bit between now and bankruptcy? The government is already defaulting on them...
Those are just "all else equal" figures. If the government kept up with its original promises, then here is what it would owe in the future... the world doesn't work this way.
The Ponzi Munchkin has her own Fed charts provided by Krugman that show everything is going to be just fine.
Anything else is just noise.
Yeah, CBC had one of its National documentaries with a Jewish man returning to Ukraine after having fled to Canada as a child. He was called a dirty Jew by his classmates, and this horror had to be recounted as if the Jews were the only repressed people in Ukraine; they would cut to images of the Holocaust and then to Putin.
True public relations for the common man. Meanwhile, the Holodomor was not even mentioned, nor that hundreds of thousands of Ukrainians are fleeing the total war tactics of the Democracy/Zionist/Nazi coalition. We're in for bad times.
"Time" Haven't read it in ??? 10 years or so.
Well finally. Enough beating 'round the bush, of course it harms Russia's economy when you use trade to wage war.
Which is why you aren't supposed to DO that.
Isn't that what the Europeans and the US say?
Oh, I forgot...we aren't using sanctions to wage war, we're just teaching them a lesson, and they ought to sit there and take it...
*SNORT!*
Ot, pop up on ipad. Tyler, can something be done? I know ads are necessary but between the ones at the top and sides and already at bottom, the new ones at bottom overlay the existing ones and there is not much space left for content, unless the new content is ads.
Agree. It's worse than ever! I have to turn off JavaScript just to read anything.
or you can go firefox and adblocker......all gone
Give Tyler a break. Is he not entitled to get his before TEOTWAWKI?
pony up a couple a bucks for adblock app.
Absolutely brilliant. End the US bully's domination of the world by getting rid of the dollar as reserve currency. About time
You mean, the banksters are done pillaging the once greatest nation. They are done with the corpse and its time to let the dollar rot with it.
Truely international banksters, think Rothchilds, etc, are not and never will be done.
WS Banksters skimming a few million off might be dealt with akin to arresting some 711 thief, but the real Generational Criminals are a long way away from being dealt with.
While I agree that the US$ domination should be coming to an end, I just hope you're prepared for the massive and sudden increase in costs that will come with it. Also, I hope you're located in a rural area as the cities will become war zones with 'EBT Card denied'
I kind of like exporting my inflation. Good God can you imagine what the grocery bill will be like if we lose segniorage? I can barely get out of there for less than $200 as it is. Crap. Looks like I'm gonna need a bigger garden.
finally
I see " the Deer look'"
"Should have"? What the hell does that mean? Just do it already.
Whether its Rubles, Dollars, Yuans, Reals, Yen...it's all monopoly money. Take payment only in certain shiny metals.
True but they want to replace our global fiat with their global fiat. They are all gubbermint whores owned by oligarches in the end and fiat is good for whores and oligarchs. Fiat is not so good for sheeple who have to grow the wool for the fiat shears to fleece but at least Vlad and the Chinese are not Jewish and Vlad promises to be kinder to dumb barnyard animals.
Tis true, but there are clear differences.
Russia is not trying to conquer and enslave the rest of the world to maintain it's fiat's supremacy. They have the gas, oil, lumber, minerals, & metals, they don't need or want to ruin their own currency like the U.S.
Could things change in the future? Of course they will. But it's time for the world to step on the next most stable brick on the bridge, because the brick under your feet now now is about to go falling into the abyss of failure.
The banker fantasy of SDR's, which never had a chance in Hell of working, goes into the toilet and gets flushed. It still makes me laugh when people talk about SDRs being the solution without knowing what they are.
The only thing everyone is going to agree on is gold. Gold came into use due to international trade. It remains in use to balance international trade (yes it does). It is the a standard international money that everyone trusts.
Yes, Gold backed SDR's is the master plan coming to a town near you........
SDR's are Bullshit Fiat also
Fiats are the black cat with nine lives. They will not give up with it easily or until forced.
They can play games with partial backing of gold, with programmed adjustment periods.....
It will chance when it is in their best interests to change or during total TSHTF, and even then, they will do what benefits them only.
And if Putin doesn't want to play in the cat turd laden IMF sandbox?
Vladimir! Vladimir! Vladimir!
Go Vlad! We are with you!!!
Damn it, if he succeeds, I will buy a statue of him and put it in my living room.
If he succeeds, you'll likley be forced to have a statue of Barry in your living room when martial law is declared.
Any feality otherwise terminates at Camp 17
Is this what obombus dumbfuck meant about being flexible after the erection
YES indeed the petrodollar MUST die, and YES indeed indeed it is damaging Russia and the rest of the World's economy and has been well before this decade ever arrived for that matter!
God I wish the U.S. had a leader like this guy, instead of the pusilanimous whore "psychophants" we have occupying the WH and Congress!
pu•sil•lan•i•mous (?pyu s??læn ? m?s) adj. 1. lacking courage or resolution; cowardly. 2. indicating a cowardly spirit.
pusilanimous
I learnt a new word today, ZH is so educational :)
I had always thought that word was similar in meaning to pugnatious, as in not a pussy. Thanks dictionary man
Trade Russia's oil in gold?? Ridiculous. Fiat is here to stay, whether physical or digital.
Yeah, but not green fiat. Dead presidents are about to die again.
Silky, -- glad to see you and read your comment here.
The ABF, Anti-Bolshevik Federation is growing. Euro-land better wise the f-up and quick. What do they gain out of the fing Zioqueers nazi New Bolsheviks? Notta! Just welfare recepients draining them dry.
Doesnt the silver fix end today? Nice timing Vlad...
USD status as world currency is a National Security numero uno issue.
If bank lobby continues its financial jihad with quantitative easing, then assassinations will ensue.
That is how it works. History cannot be different this time. Elite kills elite over control of real assets. This will never change
Do not exclude Obama being forced to resign. Democrat neocons like Clintons are openly attacking him.
Reminder:
Bank lobby = dollar trashing
Neocons = strong dollar
Blood will be shed, both financial and real, if this continues.
If people think assassinations will never happen, just read history books, and you will change your mind quite easily.
assassinations are only prescribed to cure those with too much 'independant will', sock puppets will always be safe.
This explains the $1.3 Million dollar trip back to the White House this weekend for Obama, so he can take orders to move nukes into Ukraine as a deterrent to Humanitarian Aid. F*ck the EU.
They said yesterday, Wednesday, that he was coming back this weekend. Today is Thursday. He comes back Friday night, right? So the private courses said no to the busy Saturday and Sunday tee times, what? Can always get on at Congressional.
This whole thing is about the attempt to get natty gas from the Middle East into the EU to replace Russian gas. On a cold day in January Putin can turn off the taps and say "EU - time to choose between the US or our gas". End of sanctions.
At least Zero is having a good time dancing the night away.
'Obamas Danced Nearly Every Song. A Good Time Was Had By All'
http://www.weeklystandard.com/blogs/obamas-danced-nearly-every-song-good...
Good for him.
Dancing sure beats writing Executive Orders or signing laws. On our end anyways.
Had a talk with people who works in Russia company connected to goverment/regime.
Well, things are not so rosy as Putin media propoganda delivers.
Yes, there is de-dollarization happening, but it means that companies ar lacking currencies - those that actually other companies need, like USD, EURO, etc. No-one wants those yuan, rubles - so that is a major problem for company that works global. Next thing is all grants that this company had is gone, because all goes to Crimea investments just to keep that region going. That is a expensive occupation.
Real entrepreneurs are not happy with Putin - they say that he has went mad and that's all.
This specific company will go bust soon, thousands of people will be layed off - that is only beggining.
I don't think that Putin is mad and doesn't understand this - but maybe he really is mad. I don't know.
But when this will hit simple people in Russia - consequences can be unpredictable.
A world without a reserve currency is a world of 1930s. World trade dies.
Globalization is dying.
Blame starts Quantitative Easing which is Financial Aggression.
World can't handle financial aggression pretty well. People simply stop producing.
It will get worse and worse for as long as QE is not unwound.
"Who run bartertown?"
https://www.youtube.com/watch?v=Hgq4w4dqKsU
That would be Master Blaster.