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The Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In Ruble, Yuan
Several months 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 in late June when first Gazprom's CFO announced the gas giant was ready to settle China contracts in Yuan or Rubles, and at the same time the People's Bank of China announced that its Assistant Governor Jin Qi and Russian central bank Deputy Chairman Dmitry Skobelkin held a meeting in which they discussed cooperating on project and trade financing using local currencies. The meeting discussed cooperation in bank card, insurance and financial supervision sectors.
And yet, while both sides declared their operational readiness and eagerness to bypass the dollar entirely, such plans remained purely in the arena of monetary foreplay and the long awaited first shot across the Petrodollar bow was absent.
Until now.
According to Russia's RIA Novosti, citing business daily Kommersant, Gazprom Neft has agreed to export 80,000 tons of oil from Novoportovskoye field in the Arctic; it will accept payment in rubles, and will also deliver oil via the Eastern Siberia-Pacific Ocean pipeline (ESPO), accepting payment in Chinese yuan for the transfers. Meaning Russia will export energy to either Europe or China, and receive payment in either Rubles or Yuan, in effect making the two currencies equivalent as far as the Eurasian axis is conerned, but most importantly, transact completely away from the US dollar thus, finally putin'(sic) in action the move for a Petrodollar-free world.
More on this long awaited first nail in the petrodollar coffin from RIA:
The Russian government and several of the country’s largest exporters have widely discussed the possibility of accepting payments in rubles for oil exports. Last week, Russia began to ship oil from the Novoportovskoye field to Europe by sea. Two oil tankers are expected to arrive in Europe in September.
According to Kommersant, the payment for these shipments will be received in rubles.
Gazprom Neft will not only accept payments in rubles; subsequent transfers via the ESPO may be paid for in yuan, the newspaper reported.
According to the newspaper, the change in currency was made because of the Western sanctions against Russia.
As a protective measure, Russia decided to avoid making its payments in US dollars, which can be tracked and controlled by the United States government, Kommersant reported.
"Protective measure" meaning that it was the US which managed to Plaxico itself by pushing Russia to transact away from the US Dollar, in the process showing the world it can be done, and slamming the first nail in the petrodollar's coffin.
This is not surprising to anyone who has been following our forecast of the next steps in the transition from the Petrodollar to the Gas-O-Yuan. Recall from April:
The New New Normal flow of funds:
- Gazprom delivering gas to China.
- China Gazprom paying in Yuan (convertible into Rubles)
- Gazprom funding itself increasingly in Yuan.
- Russia buying Chinese goods and services in Yuan (convertible into Rubles)
And all of this with the US banker cartel completely disintermediated courtesy of the glaring absence of the USD in any of the above listed steps, or as some may call it: from the Petrodollar to the Gas-o-yuan (something 40 central banks have already figured out... just not the Fed).
Still confused? Then read "90% Of Gazprom Clients Have "De-Dollarized", Will Transact In Euro & Renminbi" for just how Gazprom set the stage for the day it finally would push the button to skip the dollar entirely. Which it just did.
In conclusion we will merely say what we have said previously, and it touches on what will be the most remarkable aspect of Obama's legacy, because while the hypocrite "progressive" president who even his own people have accused of being a "brown-faced Clinton" after selling out to Wall Street and totally wrecking US foreign policy abroad, is already the worst president in a century of US history according to public polls, the fitting epitaph will come when the president's policies put an end to dollar hegemony and end the reserve currency status of the dollar once and for all, thereby starting the rapid, and uncontrolled, collapse of the US empire. To wit:
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.
As of this moment, both Russia and China have shown not on that it can be done, but it is done. Expect everyone to jump onboard the new superpower axis bandwagon soon enough.
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Yes - Gaza has oil. So does southern Lebanon and Syria.
If every Hamas member died tomorrow, Israel would find a new excuse to continue killing Gazans.
In Ukraine, a recent rebel news conference made mention of Kiev's and Washington DC's lust to drill Donbass for shale energy. The rebel commanders hinted that Kiev and Washington have united to attack Donbass in order to secure the shale energy. They claim America already has corporate interests that have bought the right from Kiev to drill their entire territory. They claim that the energy will be taken, Kiev will grab the royalties, and American corporations the profits, and Donbass residents will get nothing but Kiev's Policemen and the chemical waste. In this, the rebels commanders are right. I believe contracts are already sighned and American corporations only await the capture of Donbass to begin drilling. And, these are productive farm lands, and many people farm, and many people there do not trust that the drilling will be safe and clean. These people are taking up arms to fight Kiev.
More so than profits, the rush to drill East Ukraine is to provide EU with an alternative to Russian gas. LNG is a pipe dream and Middle East gas is a dream without pipes, Ukraine shale is the only alternative for the US to control EU via energy. It would also drive a wedge between EU and Russia.
Donbass is right not to trust US thieves, the carpetbaggers should be shot on sight.
And Biden's son is there to provide transparency at $1,000 per hour for his law firm. Thanks Daddy, Nothing new . Just check other US law firm clients in Algeria, Libya, Egypt and other oil rich countries to see how well connected relatives prosper on oil revenues. However, in Ukraine winter is fast approaching and Kiev is bogged down in Donbass with rebel supply line to Maripol port secure. Next several weeks may make the difference and provide a patriotic uprising---either way, no winners for people of Ukraine
Have a look at the Map of Operations, August 10-25, 2014 in the Donbass region
www.slavyangrad.org/ 2014/ 08/ 26/ novorossiya-map-of-hostilities-august-10-25-2014/
check out the white areas!
Right on there Jack.
But don't forget the agro chemical vultures like Monsanto who are ready to pounce and enforce GM crops. They will be in before shale ever sees the light of day as shale is vulnerable to guerilla action.
So Russians will get in return their ruble for gas that they export? And who else will need their ruble? not in Western countries...
WW3 HERE WE GO!
The U.S. keeps frackin around while Putin is piling up the chess pieces.
For the globalists, this has been the plan all along and anything that dissolves our sovereignty is seen as a good thing. Either our leaders are part of it and working to destroy the US and it's influence from the inside, or they really are this fucking stupid. Toss a coin, either could be the case but I guess it won't matter since the outcome will likely be the same.
China is Saudi Arabia's largest client state. How long before Saudi Arabia jumps on the bandwagon?
Shortly after several of the following start accepting non-USD for Oil/Gas:
Iran
Iraq
IS
Qatar
UAE
Kuwait
I can see Iran and IS making the "jump". Iran has already requested other nations to pay in their own Currencies; and will avoid the USD due to Sanctions and Monitoring. Since Team_USA just pissed off IS recently, they should be making phone calls to establish Official Relations with Nation-States in the not too distant future for "legitimacy".
Oil for Recognition.
Nice one my Russian friends, now fucking stick to it, and while your at it, fuck up us Brits a touch, and on another totally unrelated note,
Any of you fuckers sick to death of this 'Ice Bucket Challenge Shit'? My wife politely informed me I have been 'Nominated' 5 times through Facefuck, though I dont know how as I dont even know what a Facefuck is.
Whatinthefuckinhell is this 'Craze' about?
Do you put bits of ice in a bucket and then give it, the ice, a challenge? Like changing a car tyre or sumpting? Or mowing the lawn?
What exactly can ice in a bucket achieve? I was always taught that ice was an inanimate cold storage device for cooling drinks, well then, just goes to show, just how much this stupid old cunt knows doesnt it? I now, according to said wife know 'Fuck All', and am 'An Old Boring Tosser, Just Like Your Fucking Mother, You Arsehole. Even Your Two Kids Have Done It'.
Eh? Women.......
;-)
Face Fuck: Sliding your cock in and out of someone's mouth usually while holding their head still or moving it in opposition to the movement of your hips.
Does this help..??
Cheers Farmer Joe,
It two fucking words!!!!!
I didnt understand Facefuck, but, Face Fuck is whole different ball game.
Now I See.....
;-)
heh heh.... You used Face Fuck and ball game in the same sentence...... I see what you did there.
great minds think alike!
Smile and wave Doc,
Its a good job I wont lose my humour, no matter who makes me smile, and no matter how bad the shit gets, never lose sight of your funny bone.
Fuck me, we are going to need it.....
:-)
"ICE US"
ISIS
You can make a charitable donation to ALS research instead of taking the ice bucket.
That's the odd thing - everyone seems to be taking the ice bucket instead of making a charitable donation.
It has raised awareness of Amyotrophic Lateral Sclerosis which is good, I just hope it brings research money.
ALS took my Dad when he was 52; lost the use of his left arm, then his right arm, then his legs, then his ability to speak, then to chew or swallow, and in the end lay in bed wasting away yet 100% cognizant and mentally aware yet unable to do a damn thing.
Two years from diagnosis to death, from being a marathon runner and ophthalmic surgeon to a wasted shell. Horrible way to go.
If I ever get it I will put my affairs in order, say my goodbye's, and take myself out while I can still pull the trigger or swallow the pills.
http://en.wikipedia.org/wiki/Ice_Bucket_Challenge
Ebworthen mate,
I meant that in no way to hurt anyone, let alone you, and sorry for your loss friend. I have already donated to the ALS research fund, and that was a dig at my two kids who read this site of which I wont allow them to pour ice filled water down my neck.
Once again mate, very sorry you lost your father this way, to a terrible disease, you have nothing but my best friend.
96
Thanks Inthemix96, and no worries mate ;-)
All class ITM. :thumbsup
Thanks ChiRussia. Many Americans would like to disarm our evil government also. I would be happy to pay you a hogshead of the worlds finest Bright Leaf Tobacco for a barrel of your oil. Tobacco built this country. Tobacco will save it.
Wacky.
Tabaky
I would say JINX, but you beat me to it.
wacky tobaccy
Certainly in Colorado.
Many are predicting war, but I am predicting a switch out of the dollar with an SDR type currency and then a dollar crash.
By this mechanism the Rothschild banksters can devalue their opponents wealth held in dollars or commodity equity (ownership in commodity producers) while still lording over dollar debtors.
Because things are so currently precarious, the Rothschild banksters need order to facilitate their plans.
Let me explain:
1) A debtor in dollars will be told that they still owe in SDRs and not the now destroyed dollar. So debtors will still have to come up with the currency of the banksters' choice to payoff their debt and will not be allowed to payoff their debts in worthless dollars. If the debtor cannot pay, the banksters will take the underlying collateral.
2) As for those holding dollars and/or commodity equity the destruction is facilitated via the destruction of the value of the dollar and the collapse of commodity prices when the dollar goes.
Only those holding hard assets like gold and silver will do well.
In other words, it's heads they win, tails we lose until we take their heads."
My contract says that I owe in US Dollars.
Not Droolers, SDR's, Rubles, or Yuan.
Debt jubilee, Bitchez.
Tell that to the Ashkenazi judge that the Rothschild banksters will bring in to "adjudicate" that question.
With that said, let me add that since usury is what makes the NWO go around, we, the American people need to:
The most powerful weapon the American people have is Rejection.
The system of fraud and theft that has been built up upon the backs of the American people is dependent upon out backs. Withdrew our backs, and the whole thing collapses. This is our greatest weapon.
Quit Paying--put it into food, and precious metals, etc.They stole what ever "debt money" they loaned you in the first place )fractional reserve banking) and soon you won't be able to pay them anyways.
Quit Obeying--If they are in violation of the Constitution then they are not legitimate anyways.
Quit Playing--Quit being a tool for them to use.
The Four Rs
Rejection: Quit paying, quit obeying , quit playing
Revolution: It is inevitable, so prepare, as they are.
Retribution: Is there really any place for these sociopaths and criminals in a
restored civil and Constitutional society?!
Restoration: Restore the Constitutional republic.
the Ashkenazi judge - Liquidate, with extreme predjudice.
Liquidating the Ashkenazi will leave behind their tool, and the real problem, big, criminal government and fraudulent-reserve banking.
Eliminate those two, and the Ashkenazi can go back to being productive and contributing members of society and humanity instead of the destructive element that they currently are.
An American, not US subject.
the Rothschild banksters are not concerned about my credit card balance, they know they won't collect on that but sovreign and corp debt, they most surely will go after.
Agreed. And when the fit finally hits the shan, worthless US dollars is what they will get.
Review the legal tender cases. My mortgage represents a written contract to be paid back in dollars. If I try to pay in anything else, they can claim breach of contract and forclose. Its a two way street. The contract says dollars. If its TP they want, then lets the courts enforce the terms of the contract.
When will we be able to trade our new currency, the US Peso?
Amero
The stupid asinine markets won't "react" until it's too damn late - for them.
If you think about it this whole thing is kind of a mind fuck; what is being received as payment anyway?
Binary digits in a computer. So Russia gets 1 Billion Euro from Germany, and Germany pays with 1001011001101.
Russia converts it to Rubles, 1100101001010101001001 stored in a database. There aren't any promissory notes involved, just data.
The only thing tangible was the Natural Gas Russia sent to Germany. The data is completely intangible and non-provable.
Russia says they have X Rubles, China says they have X Yuan, the U.S.A. says they have X Dollars.
At some point the entire idea of money collapses.
Collapses, yes. And that is why the east is furiously stacking PM's at bargain prices.
At some point the entire idea of money collapses.
At some point the whole idea of fiat currency collapses.
Fixed it for ya.
Ohh nooo, be afraid, be very afraid, for the collapse cometh!
Nevermind the USD strengthening due to massive inflows from countries in which their own currency is ACTUALLY COLLAPSING.
When people in third-world countries see their purchasing power fall off a cliff, where do they go? THE US DOLLAR.
And given that these periphery fiat currencies must collapse first, what does that tell you must happen before a dollar collapse? Massive dollar rally (in this case, might just look like a sideways dollar, since the rally will counteract losing reserve status)
Nothing happens in isolation anymore. Luckily for the spin masters, most of us have yet to realize this.
True, the patient will rally immediately before expiration.
Skip ahead Brother.
Guess I'd better brush up on my Russian. Oh wait, I don't even know any Russian well, I guess I'd better learn some. I like Vodka anyway, that's a start.
Here is a party Pack:
Good morning - "Dobre utra".
Good afternoon - "Dobre den".
Good evening - " Dobre viechir".
Welcome - "Dobro požalovat"
Hello - "Privet!"
How are you - "Kak dela?"
I'm Fine, Thanks. And You? - "Spasibo, horošo. A ty?"
My Name is... - "Men'a zovut..."
I'm From... - "Ja iz ..."
Cheers! - "Za zdarov'e!"
Where is the Toilet? - "Gde na?oditsa tualet?"
Leave me alone! - "Ostav' menja v pokoe!"
Sorry - "Prasti!"
Touching - Russian mothers demanding Putin to give back their sons that have been send to Ukraine:
http://youtu.be/IbgVEt9-SmM
Russia is a matriarchial society. Protests from mothers forced the then USSR to get out of Afghanistan. Our mothers are busy getting facials, becoming trophy wives and sipping wine--- but no protests against war. Very odd.
Wake me up when Russia and China refuse to take USD.
The dollar will always be accepted everywhere, it just won't buy much.
You have it wrong. Why to hold something that does not buy anything?
Because people are stupid and have short attention spans. They don't remember back when 1/4 a dollar could buy a candy bar or a gallon of gas. For them a $3.99 burger is on sale.
http://bigthink.com/words-of-wisdom/orwell-on-the-duty-of-the-intelligent
We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men." - George Orwell
https://www.youtube.com/watch?v=3N-AV5A5dKE&list=PLc3p2zZ7ggz53I6CbCE7gaEuWTg7D5ojC
Finally some news I can drink to.
This out as well pretty much a game changer http://t.co/eWEdlLLbcW
Probably a stupid question:
Isn't the Yuan pegged to the US dollar? If so, wouldn't a depreciating dollar (less demand) also drag down the yuan's purchasing power..?
I realize it's much more complicated than that. Maybe somebody smarter than me (most ZH'ers) wants to weigh in...??
Most debt is denominated in dollars. As world economy weakens, the demand for dollars to repay these debts will keep the dollar relatively strong.
Most US debt is denominated in dollars. When a European borrows to buy a house/car/whatever, they borrow in Euros and repay in Euros. Ditto with most other nationalities - they borrow and repay in their local currency. No US dollars involved at all.
I import raw materials from Germany and Switzerland into the US. For the past five years or so, I have had to settle these pro-forma invoices in Euros
It's true that most international commercial transactions are conducted using the US dollar at present, but that's all about to change - as this article clearly points out.
Game changer.
They are all fiat currencies. In my opinion, it is the fact that the east is buying precious metals and mines as fast as they can and have been for a long while. When boom comes to crash, gold backed whatever wins.
And the question is; nations are buying more gold than is mined, so it must be coming from the western stockpiles, and how much (or little) does the west have left, being that the US won't let anyone inventory the stuff?
So isn't Obama going to call in gold? I was always sort of expecting that.
You mean all those pieces of paper? ain't much physical stateside anymore.
Farmer Joe,
It's actually worse than "pegged".
Last time I checked, the Chinese Central Bank owned $1.27 Tillion in US Treasuries (as of 2014 May).
Those Treasuries were purchased by issuing an equivalent value of yuan into existence.
In other words, those Treasuries serve as collateral for those issued yuan.
This means that if the US dollar loses 1% of its value, the Chinese Central Bank will suffer a very real loss of $12.7 Billion.
It is actually much worse than that...
So, if the US dollar is a house of cards, the yuan is a house of cards built on top of a house of cards.
Yeah, I saw an announcement recently someone is China Polit Burro saying they thought the Yuan was over valued.
If USD collapses... the plan might be for South Korea, China, Japan also to collapse the value of their Currency.
So, if the US dollar is a house of cards, the yuan is a house of cards built on top of a house of cards.
Not with well over 10,000 tons of gold to back it. Why do you think they've been scarfing up every oz. they can get their hands on the last few years?
They're close.
Yes. But now it is laid in. Simply push the button Max.
Fiat Wars
speaking of which, I have recently read that Uranus is gaseous. I had not known that.
Beano is on sale at Costco.....I just picked up some....
9/11 is right around the corner. Will we get an anniversary gift?
Yeah....another jackboot in the face...
from war the petrodollar was created and by war it shall die
Sad to be behind enemy lines, but so it goes.
Was just about to say the same. There will be no hot war over this, because if there's even a hint of that, America's streets will boil.
‘streets will boil’
asphalt melting due to the inside nuke job?
America's inner cities and campuses will not take kindly to a new draft. Middle class will finally see past the oilogarchy's actions to their true motives. Unrest everywhere.
The NYT is driving hard to the hoop on the anti-Russia stuff
http://www.nytimes.com/2014/08/28/world/europe/ukraine-russia-novoazovsk...
I don't know which lies to believe anymore.
But I do know the Times didn't report on Ukrainian shelling of ethnic Russian civilians nor their shelling of Russian towns, nor the connections between one of the dual national pro-Kiev oligarchs and the atrocious massacre in Odessa.
The Times is absolutely the mouthpiece of the neocon/globalist/zionist Deep State. and tey want their war, and can count on Americans to not remember who Valerie Plame was or what she did, and to continue buying the horseshit about 9/11, Iranian nuclear weapons, and Syrian gas/chemical weapons...
The only thing that could stop this thing is a military coup... which is why Obama purged so many good officers along with a handful of bad... General Weinstein... I wonder how many passports he has...
Ignoring Ukraine’s Neo-Nazi Storm Troopers
Exclusive: You might think a story about modern-day Nazi storm troopers attacking a European city without mercy would merit front-page coverage in the U.S. press, but not when the Nazi paramilitaries are fighting for the U.S.-backed Ukrainian government and are killing ethnic Russians, writes Robert Parry.
By Robert Parry
http://consortiumnews.com/2014/08/13/ignoring-ukraines-neo-nazi-storm-tr...
I tried posting that very story/link on the NYT a couple/few weeks or so ago - it didn't make it. lol.
They failed the Obama test "Would you be willing to give the command to open fire on US citizens?"
try this:
http://vineyardsaker.blogspot.fr/
If Putin really wants to open up da shit, he should start calling for reparations for the cool trillion or so the Bolsheviks pilfered especially as many of their descendants are now the ones causing the current troubles.
Holy crap, metals sure jumped on this news!
/sarc
How about this...
http://etfdailynews.com/2014/08/26/switzerland-to-take-back-its-gold-ishares-silver-trust-etf-spdr-gold-trust-etf/
You'll only be able to pay for your REALID national identity card with electronic Ameros soon enough, friends.
Drink accordingly.
Clearly just a test run ....560,000 barrels ain't shit. But if it works smoothly game over.
Bill the Cat blotter
Ack!
Well at least te next few months wont be boring.
How many hundreds of Trillions of US dollars are those unfunded liabilites again?
The US dollar is like the leaves on the trees, there will at some point be an absolute
stampede away from it.
Let's hope it happens soon, otherwise we will be completely out of deciduous forests. (Hitchhiker's Guide, Golgafrinchans)
Flee into what? Europe had a bailout too.... The world likes the ease of fiat, and that's all there is in the electronic world. For them it takes the mass printing of electronic fiat to fund their pork projects, etc., which is a big reason why governments like it. Banksters like it to loan out to suckers. The chip will come before physical takes over completely again....in the meanwhile keep stackin'...
Smaller number if you use Bitcoin!
BLOOM
MER
RANG
Communism won! Who’d have thunk?
Any of your relatives die in the war against Commies?
None of my relatives are fighting in East Ukraine, but thanks for asking.
Oh, wait, did you mean the Russians?
WW1, WW2, Korea, Vietnam… Fast forward to today and ultimately, the U.S. lost all of them. The descendants will be using ‘the victors’ money.
This is not one of Yahoo Finance's top 8 stories, so clearly it can't be true. Everybody back to work. All is well.
I'm busy watching the American twerking ice water bucket challenge awards show. Did you say something?
Glad somebody finally figured out how to use computers to exchange currencies. Took them long enough.
metals will only start doing something meaningful when they start trading the physical in the East (Shanghai, Singapore, Korea exchanges etc.). Late Sept.!!
War follows close behind announcements like this...
You mean military coop in Ukraine?
this is a big deal but not as big as zero is makin it out to be! u think the u.s hasn't already wargamed this???!! lol
WWIII still starts in the middle east! for the most part China and Russia are rational actors on this stage diversifying for the future as they are set to become economic powerhouses if they get their shit together. the Middle East is full of basket cases who will nuke themselves over ideological differences...THE WORLD IS NOT GOING TO CAPITULATE OVER A GAS DEAL!
however if it starts a downhill effect where the rest of the world chime in and say "ya u.s we are tired of your shit!, we will diversify to!" THATS WEN YOU ALL WILL BE ROUNDED UP AND TAKEN TO VARIOUS FEMA CAMPS! DONT KNO WHY YOU IGNORANT FILTHY WHITEY GOYIM ARE IN CHEER MODE YOU ALL SHULD BE PANICKING NOW LIKE CHICKENS WITH SEVERED HEADS! MOVES LIKE THESE JUST GET YOU CLOSER TO WHAT ALEX JONES PREACHES ABOUT!
Newest headline on Drudge via Bloomberg: "RUSSIANS HACKED US BANKS"
Hate to break it to you but war has started in the Middle East a long time ago.
The dollar collapse is inevitable. Longer we wait, the worse it will be, if its not already set to be as bad as it can get. Without the dollar, and no other widely used medium of exchange, the US economy will collapse to the barter level. Supply chains will be destroyed. No coal for the power plants, no electricity, then back to worse than pre-industrial, because few will be ready for it. 90% mortality in major population centers, and a lot worse in the former desert areas of the southwest.
Yes, it will be very ugly, and its coming at you like a freight train. Those who survive, will hopefully recognize centralized government as the cause of all the pain and prevent it from rising from its ashes.
"More on this long awaited first nail in the petrodollar coffin." I thought Iran was the first nail... Oh, wait that nothing story ended poorly for them so let's shift the fear story forward, and I suspect when Russia suffers too there will be a new "first nail" story down the road.
Oh shit! I'm convinced this will be the catalyst to force any remaining "gold bugs" to simultaneously dump hundreds of millions of sell orders into the market all within the same millisecond. Gold and silver are going to get futt bucked.
Bring it on. It will be a Comex "going out of business" sale.
This is getting a little stupid. Every time some organization stops accepting $ in payment, it isn't "another nail in the petrodollar coffin." All US monetary policy now operates on the assumption that organizations from all over the world could stop accepting USD as a settlement currency any day.
So, things like what Gazprom just did have already been factored into the economic equation for America and affect it little at this point, seeing as how America can simply print more dollars. The American military is still more powerful than the other 8 top militaries of the world combined, and that's really the most important factor at the end of the day.
It's not about a country not accepting the $....it's about the precident being set where oil is trading and being sold buy any other currency but the $ in a major oil producing country.
The US went into Iraq over this....killed Quadaffi over it too and will stop at nothing to keep the game going.
No doubt. But the commitment of American troops to different regions is going to determine the future going forward, while Gazprom's or whomever's decision to stop trading in USD won't.
Several gold backed currencies are about to be issued.
I have a theory that exercising Power around the world is very important to Empire. Part of the Inflating of US Dollar Supply or Derivatives depends on exercising power.
Like the fascist Tax reporting policy for foreign banks to report on US Customers... Like going after European Banks for Fines or Civil Suits... Like going after off shore Gambling... Like FBI Stings of all kinds
But like going after Syria, Libya, Iraq... anyone that doesn't play ball with US Central Bank or our plans for Big Oil & Gas Extraction.
Opium Poppys seem to fall into this area to, but most people in the US Don't give a damn what happens to foreigners or US people that deal with Drugs.
So... as I see it Obama is exercising power by using Drones in Pakistan & AFRICOM (africa)... and by stirring up the Propaganda war in Ukraine and going ahead with Ukrainian Fascist Group Coup. Plus he supports Israel..
Everyone is engaged in a propaganda war. And yeah, America will keep deposing govs as they've always done. Nobody in America is losing much sleep over Gazprom not using USD in their transactions though.
yes, "simply print more dollars". That solution for a glut of dollars, while global transaction demand for them collapses, makes about as much sense as more debt as a solution for too much debt (actually its the same thing). This historic amount of money should create quite a hyperinflationary implosion in its value when everyone starts unloading them while they still can get something for them.
One good thing will happen for all those troops. They'll have plenty of paper to wipe themselves with. But the paper won't buy them even the most skanky hooker any more, much less any food, fuel and bribes. The military will collapse with the dollar, regardless of any plans by the USSA evil empire to the contrary.
All of the pain of the dissintigration of the USSA and its userpted states will be because of what government has done to destroy money and cause the collapse of the economy when the dollar dies. The slaves to government dependence will suffer the worst. They will need to know that the pain is NOT caused by the absence of government. Instead, the collapse will be the result of over a century of predation by centralized governments upon society. If a critical mass can understand this, then maybe we can prevent centralized government from rising from its ashes, and be rid of the most evil kind of earthly entity that mankind has ever known.
The US military hasn't been a deterent since 1945. And the bankers are taking notice.
Keep shorting the Ruble, assholes.
HAHAHAHAHA!!!!!!!!!!!!!!
Not funny! If you're a former WH press secretary that is. :)
Cabal banks going down.
Hussein Kenyan Barack Obanana without birth certificate was talking about a change.
He achieved the change now.
Waiting for the new domestic U.S. Liberty dollar backed by unmined gold.
HAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!
Soon they will be fracking gold from solid rock and squeezing it from sand. On CNBC they will have news stories calling the US a "Net Gold Producer".
U.S. need for gold is driving the Syrian invasion.
They want to steal other people's gold.
Look out Canada!
You will be fracked!
Obama has this One America Program and a website.
I guess he will be forcing people into City Developments like Ghettos... from Rural or Suburban Housing.
This makes Open Pit Mining and Fracking more possible, with more financing, and way more players possible to set up companies.
Pretty sure we already squeeze like 7 grams of metal out of 1 ton of mined earth. That means that the cost of mining in the USA has gone way up and this is why ore or Precious and semi-precious metals or whatever are more expensive.
Maybe that is behind Silver's price these days.
Canada's gold is in deep storage.
And we've been fracking for over fifty years so that's not much to worry about.
But if push comes to shove, I will protect our tar.
We need the fuel to dig the gold.
Once Canada joins the NA Union, you're gold will be confiscated by the Union for your own good.
Sure, you can have Quebec.
We look west in the west.
chuck i like you but you are wong here now here now.
the gold of syria,iraq,libya,ukrainia and germany has all been taken to new york,london and tel aviv for smelt sorry i mean for storage.
you will not find a safer house than the home of the rabbi.
relax it is in good safe and slightly bloody kosher hands.
I hope Syria was smart enough to move its gold to Russia.
http://www.bloomberg.com/news/2014-08-27/fbi-said-to-be-probing-whether-russia-tied-to-jpmorgan-hacking.html
How long do you think Bloomberg has been sitting on this little gem?
China owns JP Morgan.
At least its NYC gold vaults.
10 stories of vaults owned by China.
They are increasing the cost to renounce US citizenship to $2,350 after record renunciations.
isaacbrocksociety.ca/2014/08/27/state-department-to-hike-renunciation-fees-to-us2350-says-no-public-benefit-in-respecting-human-right-to-change-nationality/
The amount of people renouncing are undercounted. Waiting times around the world do not add up as they can process many per day. In Toronto, Canada, the amount they can process in a year is just about the same as the official number of renunciants and relinquishments for the wolrd per year.
Nations hack nations. This is news?
This isn't the end of the dollar or the end of anything else the way so many people want it to happen. Come back in 100 years and see how stupid anybody was to think any currency in the early 21st century was worth a damn. Any currency. The U.S. does look weak now. But that isn't because everyone is suddenly going to abandon the dollar. There are too many loans denominated in dollars, too much U.S. military firepower, too many countries dependent on the U.S.'s survival, too many greedy hands in the pot trying to make a buck on killing the dollar, etc. to see it happen the way so many U.S. haters want it to happen. Down arrow the truth if you want but China, Russia, Europe, the U.S., India, Japan, etc. are ALL fucked. Nobody is going to go down alone if things suddenly turn to shit.
The U.S. dollar will die a death of a thousand cuts.
Foreigners will buy 6 month or 12 month T-Bills.
They don't want 10 years anymore.
The Fed will buy it.
And it will have plenty of company. Hoping for the death of one currency is asking for all currencies go into the dumper. I trade currencies. I know what I'm talking about. NO currency stands alone. The ruble, the yuan, the yen, the euro, the dollar, the anything are all vulnerable for their own reasons. This is like hoping only one room burns in a house when the entire house is soaked with gasoline. The sons of bitches purposely made everything too interdependent. Now everybody is a hostage.
The only currency getting hurt here is the reserve currency. IOW, the dollar goes down and the others go up.
It has been said that there is more profit in the currency exchanges than there is in oil. So when the currency traders in the UK and the US lose a chunk of that, it's causing some pain somewhere.
Even though what is referred to in this article might look like a small amount, that still money some exchange trader didn't get. As this spreads, it will mean more and more money that didn't get sliced off the top.
well it didnt take them long:
http://patriotrising.com/2014/08/27/drudge-feds-russians-hacked-american...
DRUDGE : “FEDS: RUSSIANS HACKED AMERICAN BANKS”Posted August 27, 2014 12:54 pm by PatriotRising with 0 comments
Russian hackers attacked the U.S. financial system in mid-August, infiltrating and stealing data from JPMorgan Chase & Co. (JPM) and at least one other bank, an incident the FBI is investigating as a possible retaliation for government-sponsored sanctions, according to two people familiar with the probe.
Is stolen bank data revealing criminal activity admissible in US courts?
Send to the same court that hears the NSA cases
Send to the same court that hears the NSA cases
WAR!!!!
Give Obama a break, he is the first "black guy" minority member you selected to be president.
Who's next, a "Mexican immigrant " new world member ?
(Why is that strikethrough not working......)
Skin color has nothing to do with it. Pedigree, however, does. obama was raised by communists, nurtured by bankers and elected by sheep. Had little to do with his skin color. A white guy saying and doing what obama did and said during the campaign would have won against both McCain and Romney.
only about 31 million deal. wonder if the exchange rate will be posted. lol
he hates these cans!
This east vs west narrative being pimped by the MSM and ZH is a distraction.
Russia and China and India are all member countries of the BIS. The chairman of the PBOC sits on the board of the BIS...along with Yellen, Carney etc. The BIS have brought the BRIC countries into the fold. The US dollar will not collapse. It will simply see a diminished role and sit along side 3 or 4 other reserve currencies. This is how we move (stumbling) toward the SDR.
Enough with the "imminent collapse" articles. Why on earth would the bankers give up their ability to fleece everyone with usury? Don't listen to what people say, watch what they (BIS) do.
The Exchange Stabilization Fund run by Treasury will keep the dollar on life support.
As Treasuries are dumped worldwide.
precisely...................... http://zirpqe.wordpress.com/category/header-posts/