[Diggers350] Can Russia break dollar's spine? & Russia Announces Decoupling Trade from Dollar

Thu Apr 10 03:04:01 BST 2014

C'mon lets not loose track of the fact all this muscle flexing is to 
save the dirty money Russian/ex-Soviet domain oligarchs stashed away 
under Asset Management Services who are still largely rooted in the 
West.

If the Dollar goes down so will the Renminbi.

Hell with them all. Especially arms exporters.

On 2014-04-09 20:50, Tony Gosling wrote:
> Can Russia break dollar's spine?
> 08.04.2014
> http://english.pravda.ru/russia/economics/08-04-2014/127297-russia_dollars-0/
> 
> Gas, oil and defense products for rubles. This is what Russian
> monopolists think to do on the world market. The initiative came from
> the head of VTB Bank, Andrei Kostin. According to him, the move to
> switch to payments in a different currency will strike a blow on the
> dollar system. The question is whether other market participants, in
> particular in the oil and gas field, are going to agree to such terms.
> 
> Russian bankers and big business, in light of recent threats from the
> West, may break the dollar peg of the world market. The initiative
> from the head of VTB looks too ambitious, but this is only an
> impression at first glance. There are Russian experts who believe that
> abandoning the dollar settlement in exports of gas and oil products,
> as well as the products of Russian defense enterprises, is quite
> simple. In this case, the omnipotent dollar system may incur losses.
> Thus, according to the Federal Service for Military-Technical
> Cooperation of Russia, as of the results of 2013, the volume of
> deliveries of Russian military equipment amounted to 15.7 billion
> dollars. By early 2014, the order backlog reached $40 billion. That
> is, the demand on the products of the Russian defense industry has
> been growing. Yet, most payments are made in dollars, which means that
> the American system benefits from the Russian trade. Now that the U.S.
> introduces sanctions against Russia, wouldn't it be logical for Russia
> to abandon the widespread support of the American national currency?
> 
> "I think that this is a kind of a good initiative that tomorrow nobody
> will be able to realize, - chief editor of Arms Export magazine,
> Andrei Frolov, shared his opinion with Pravda.Ru. - There are
> contracts with a long term of execution, and if contracts are executed
> in dollars, it is highly unlikely that they would agree to recalculate
> them in rubles. It would be possible, though, if Russian rubles were
> used in trade with the CIS countries. If this lesson is successful, it
> would then be possible to apply it to foreign countries."
> 
> At the same time, according to experts, the process to switch to
> another currency may take years, even if Russian partners agree to
> take it up. The case in the oil and gas sector is even more
> interesting, which, as the head of VTB Andrei Kostin believes, should
> also be decoupled from the dollar. Of course, a game change on the
> market of "black gold" will allow Russia to give the US currency a
> punch. The US dollar has been strongly connected to the petrodollar
> system since the end of the last century. Gazpromneft already
> considers a possibility to replace dollars with euros in export
> transactions. The head of the company, Alexander Dyukov, said that  95
> percent of buyers of Russian raw materials agree with the proposal,
> RBC reports. Of course, such a decision will not be made in the next
> few days, as it will cause quite big difficulties. Yet, if the US
> continues to press Russia with sanctions, the Russian big business
> will be forced to take such crucial measures. Will the buyers of
> Russian oil and gas companies agree to accept such conditions?
> 
> "Other players will somehow have to adapt to the seller, because there
> is no other place where they could buy fuel from,- leading expert of
> the Union of Oil and Gas Producers of Russia, Rustam Tankan told
> Pravda.Ru. - We have the following situation. Our main customers have
> been trying to get rid of us as suppliers for half a century already.
> European states decided 50 years ago to buy not more than one-third of
> energy carriers. It was at the time of the USSR, but now it's Russia,
> and Europe wants to get rid of these supplies. They have done
> everything that could be done to refuse from Russian deliveries??.
> Today, they do anything that can be done immediately, so consumers -
> those who buy Russian oil and gas - are forced to do it. They buy it
> not because there is a wide choice for them - they have nowhere to go.
> In this situation, if we want to pay in rubles or even yuans - they
> only want to buy. I do not think that the consumers of our gas and oil
> will have some problems from paying us Russian rubles or other
> currencies."
> 
> Gazprom currently analyzes the possibility of using the ruble more
> actively in its payments with foreign buyers. Although, according to
> Rustam Tankaev, the move to refuse from dollar settlements in
> exporting resources can not cause significant damage to the dollar
> system (because the share of Russian money in the turnover of funds on
> the global oil and gas market is not too large), there will surely be
> benefits received from it, especially for the Russian ruble. Ruble
> settlements would increase the liquidity of the ruble, the expert
> believes.
> 
> Elizaveta Polskaya
> Pravda.Ru
> 
>> From: Simon Fairlie <chapter7 at tlio.org.uk>
>> 
>> 
>> 
>> 
>> Sadam Hussein's bid to ditch the petro-dollar was allegedly a main 
>> reason for the US invasion of Iraq.
>> 
>> Simon
>> 
>> On 9 Apr 2014, at 15:31, 
>> <<mailto:mike.mccarthy70 at yahoo.com>mike.mccarthy70 at yahoo.com> wrote:
>> 
>>> wow!!! The more extreme social commenters on youtube have been 
>>> speaking about this for a while now, I never actually thought it 
>>> would happen. Could be very interesting to see how this all pans out. 
>>> We may be about to live in some very interesting times...
> 
> 
> 
>> Russia Announces Decoupling Trade From Dollar
>> 
>> http://www.informationclearinghouse.info/article38165.htm
>> 
>> China will re-open the old Silk Road as a new trading route linking 
>> Germany, Russia and China
>> 
>> By Peter Koenig
>> 
>> April 08, 2014 "ICH" - Russia has just dropped another bombshell, 
>> announcing not only the de-coupling of its trade from the dollar, but 
>> also that its hydrocarbon trade will in the future be carried out in 
>> rubles and local currencies of its trading partners – no longer in 
>> dollars – see Voice of Russia
>> 
>> Russia’s trade in hydrocarbons amounts to about a trillion dollars per 
>> year. Other countries, especially the BRICS and BRCIS-associates 
>> (BRICSA) may soon follow suit and join forces with Russia, abandoning 
>> the ‘petro-dollar’ as trading unit for oil and gas. This could amount 
>> to tens of trillions in loss for demand of petro-dollars per year (US 
>> GDP about 17 trillion dollars – December 2013) – leaving an important 
>> dent in the US economy would be an understatement.
>> 
>> Added to this is the declaration today by Russia’s Press TV – China 
>> will re-open the old Silk Road as a new trading route linking Germany, 
>> Russia and China, allowing to connect and develop new markets along 
>> the road, especially in Central Asia, where this new project will 
>> bring economic and political stability, and in Western China 
>> provinces,where “New Areas” of development will be created. The first 
>> one will be the Lanzhou New Area in China’s Northwestern Gansu 
>> Province, one of China’s poorest regions.
>> 
>> “During his visit to Duisburg, Chinese President Xi Jinping made a 
>> master stroke of economic diplomacy that runs directly counter to the 
>> Washington neo-conservative faction’s effort to bring a new 
>> confrontation between NATO and Russia.” (press TV, April 6, 2014)
>> 
>> “Using the role of Duisburg as the world’s largest inland harbor, an 
>> historic transportation hub of Europe and of Germany’s Ruhr steel 
>> industry center, he proposed that Germany and China cooperate on 
>> building a new “economic Silk Road” linking China and Europe. The 
>> implications for economic growth across Eurasia are staggering.”
>> 
>> Curiously, western media have so far been oblivious to both events. It 
>> seems like a desire to extending the falsehood of our western illusion 
>> and arrogance – as long as the silence will bear.
>> 
>> Germany, the economic driver of Europe – the world’s fourth largest 
>> economy (US$ 3.6 trillion GDP) – on the western end of the new trading 
>> axis, will be like a giant magnet, attracting other European trading 
>> partners of Germany’s to the New Silk Road. What looks like a future 
>> gain for Russia and China, also bringing about security and stability, 
>> would be a lethal loss for Washington.
>> 
>> In addition, the BRICS are preparing to launch a new currency – 
>> composed by a basket of their local currencies – to be used for 
>> international trading, as well as for a new reserve currency, 
>> replacing the rather worthless debt ridden dollar – a welcome feat for 
>> the world.
>> 
>> Along with the new BRICS(A) currency will come a new international 
>> payment settlement system, replacing the SWIFT and IBAN exchanges, 
>> thereby breaking the hegemony of the infamous privately owned currency 
>> and gold manipulator, the Bank for International Settlement (BIS) in 
>> Basle, Switzerland – also called the central bank of all central 
>> banks.
>> 
>> To be sure – the BIS is a privately owned for profit institution, was 
>> created in the early 1930’s, in the midst of the big economic 
>> melt-down of the 20th Century. The BIS was formed precisely for that 
>> purpose – to control the world’s monetary system, along with the also 
>> privately owned FED and the Wall Street Banksters – the epitome of 
>> private unregulated ownership.
>> 
>> The BIS is known to hold at least half a dozen secret meetings per 
>> year, attended by the world’s elite, deciding the fate of countries 
>> and entire populations. Their demise would be another welcome new 
>> development.
>> 
>> As the new trading road and monetary system will take hold, other 
>> countries and nations, so far in the claws of US dependence, will 
>> flock to the ‘new system’, gradually isolating Washington’s military 
>> industrial economy (sic) and its NATO killing machine.
> 
> --
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