Russia Is Doing It – Russia Is Actually Abandoning The Dollar

[katsung47]

Russia Is Doing It – Russia Is Actually Abandoning The Dollar

By Michael Snyder, on June 10th, 2014

The Russians are actually making a move against the petrodollar. It appears that they are quite serious about their de-dollarization strategy. The largest natural gas producer on the planet, Gazprom, has signed agreements with some of their biggest customers to switch payments for natural gas from U.S. dollars to euros. And Gazprom would have never done this without the full approval of the Russian government, because the Russian government holds a majority stake in Gazprom. There hasn't been a word about this from the big mainstream news networks in the United States, but this is huge. When you are talking about Gazprom, you are talking about a company that is absolutely massive. It is one of the largest companies in the entire world and it makes up 8 percent of Russian GDP all by itself. It holds 18 percent of the natural gas reserves of the entire planet, and it is also a very large oil producer. So for Gazprom to make a move like this is extremely significant.

Russia Is Doing It ? Russia Is Actually Abandoning The Dollar

 

[Dad2three]

Russia Is Doing It – Russia Is Actually Abandoning The Dollar

By Michael Snyder, on June 10th, 2014

The Russians are actually making a move against the petrodollar. It appears that they are quite serious about their de-dollarization strategy. The largest natural gas producer on the planet, Gazprom, has signed agreements with some of their biggest customers to switch payments for natural gas from U.S. dollars to euros. And Gazprom would have never done this without the full approval of the Russian government, because the Russian government holds a majority stake in Gazprom. There hasn't been a word about this from the big mainstream news networks in the United States, but this is huge. When you are talking about Gazprom, you are talking about a company that is absolutely massive. It is one of the largest companies in the entire world and it makes up 8 percent of Russian GDP all by itself. It holds 18 percent of the natural gas reserves of the entire planet, and it is also a very large oil producer. So for Gazprom to make a move like this is extremely significant.

Russia Is Doing It ? Russia Is Actually Abandoning The Dollar

“Additional agreements of Gazprom Neft on the possibility to switch contracts from dollars to euros are signed. With Belarus, payments in roubles are agreed on,” he said.

Dyukov said nine of ten consumers had agreed to switch to euros.


Just wait till one of the nations they sign with have a collapse of their money, watch how fast they get back to dollars!

 

[percysunshine]

The world trade currency has been the dollar because the largest buyer of crude oil has been the US for the last 40 years. It is more efficient to trade stuff that way, the transaction costs are less. Now, the US has turned from a net importer to a net exporter...thus the buyers are different, with different currencies. Moving away from a dollar based trade system would be expected.

 

[SteadyMercury]

Michael Snyder, owner of economiccollapse blog... making money off of fearful suckers since 2009.

 

[Mr. H.]

This might could have merit, in the future, should the U.S. accelerate crude and nat gas exports.

 

[jon_berzerk]

the site seems to be more of an ad site

but it would have really bad consequences

for the Americans should we lose

the the worlds currency reserve status

 

[JimmieD]

Russia Is Doing It – Russia Is Actually Abandoning The Dollar

By Michael Snyder, on June 10th, 2014

The Russians are actually making a move against the petrodollar. It appears that they are quite serious about their de-dollarization strategy. The largest natural gas producer on the planet, Gazprom, has signed agreements with some of their biggest customers to switch payments for natural gas from U.S. dollars to euros. And Gazprom would have never done this without the full approval of the Russian government, because the Russian government holds a majority stake in Gazprom. There hasn't been a word about this from the big mainstream news networks in the United States, but this is huge. When you are talking about Gazprom, you are talking about a company that is absolutely massive. It is one of the largest companies in the entire world and it makes up 8 percent of Russian GDP all by itself. It holds 18 percent of the natural gas reserves of the entire planet, and it is also a very large oil producer. So for Gazprom to make a move like this is extremely significant.

Russia Is Doing It ? Russia Is Actually Abandoning The Dollar

So who is going to supply all those Euro assets for Russia? Are the Euro and Euro denominated high quality assets liquid enough to support a replacement of the dollar? I have my doubts that they are, so I have my doubts that this move is as significant as some people may think.

 

[EdwardBaiamonte]

the site seems to be more of an ad site

but it would have really bad consequences

for the Americans should we lose

the the worlds currency reserve status

why?? a reserve currency in not a new invention that makes life easier, cheaper, or more fun. That is where economic growth comes from. It is how we got to the stone age from here. Having a reserve currency that enables us to, for example, borrow without any free market constraints hurts our economy more than it helps.

 

[katsung47]

the site seems to be more of an ad site

but it would have really bad consequences

for the Americans should we lose

the the worlds currency reserve status

Iraq crisis is not an ad cite, isn't it? The response is swift. Watch the date of "Russian is doing it" and the sudden rise of ISIS in Iraq. The point is so said mainstream media hadn't report you people such an important news.

839. Iraqi crisis created to save dollar (6/18/2014)

In early June, Russia switches the oil payment from dollars to Euros.

Gazprom Signs Agreements to Switch from Dollars to Euros

Global Research, June 07, 2014

Gazprom Neft had signed additional agreements with consumers on a possible switch from dollars to euros for payments under contracts, the oil company’s head Alexander Dyukov told a press conference.

“Additional agreements of Gazprom Neft on the possibility to switch contracts from dollars to euros are signed. With Belarus, payments in rubles are agreed on,” he said.

Dyukov said nine of ten consumers had agreed to switch to euros.

Gazprom Signs Agreements to Switch from Dollars to Euros | Global Research

This is very important news. If people starting to abandon the dollar, US will be hurt seriously in economy. Yet the news was little reported by the mainstream media. Several days later, the ISIL rebel in Iraq activates an offensive. The puppet Iraqi government retreats without any resistance. As a result, the oil price goes up.

Oil prices spike as Iraq violence flares
By Mark Thompson @MarkThompsonCNN June 12, 2014

Oil prices spiked Thursday to levels not seen in nine months as escalating violence in Iraq sparked worries about crude exports.

Light crude oil futures touched $106 a barrel, up nearly 2% and the highest price since September 2013.

Oil prices spike as Iraq violence flares - Jun. 12, 2014

Since the money used in most oil trading is dollar, the higher oil price will force the buyer to keep more dollar in bank as purchasing power. It’s a big amount if future option is included. Manipulating oil price becomes a strategy to save the dollar. Iraq is a big country of oil production and exportation. Its political stability has huge influence to oil price. US has turned it into a switch to adjust the oil price.

 

[CrusaderFrank]

We should back some dollars with LNG. In fact the social security trust fund should be backed by LNG dollars

 

[ScienceRocks]

Russia invests in education, science and infrastructure. They're dumping our dollar as it doesn't carry the weight it once did.

 

[CrusaderFrank]

Russia invests in education, science and infrastructure. They're dumping our dollar as it doesn't carry the weight it once did.

We don't invest in education, we just pour it down the rat-hole know as the Teachers Union and Public education

 

[jon_berzerk]

the site seems to be more of an ad site

but it would have really bad consequences

for the Americans should we lose

the the worlds currency reserve status

why?? a reserve currency in not a new invention that makes life easier, cheaper, or more fun. That is where economic growth comes from. It is how we got to the stone age from here. Having a reserve currency that enables us to, for example, borrow without any free market constraints hurts our economy more than it helps.

in the long run it does

it is that transition time that will suck

of many

 

[JimmieD]

Russia invests in education, science and infrastructure. They're dumping our dollar as it doesn't carry the weight it once did.

They also seem to be investing in rebels who shoot down civilian airliners. I think Russia is the one making mistakes here.

..and no they aren't "dumping" the dollar.

 

[katsung47]

844. To save the dollar by hitting the Euro (7/17/2014)

Someone argues,

Originally Posted by imaginethat
Russia is the world's largest exporter of oil. Any increase in the price of oil benefits Russia.

That’s true. But oil price is the fastest way to adjust the demand of the dollar. We saw then the Euro – an alternative to the dollar, is threatened.

Portugal bank crisis shakes investor confidence
By Brigitte HagemannJuly 10, 2014

Lisbon (AFP) - Fears over the health of Portugal's largest listed bank, Banco Espirito Santo, sent its shares into freefall Thursday, shaking stock markets in Lisbon and across Europe and even the Atlantic.

Portugal bank crisis shakes investor confidence

Euro is the reserve currency next to the dollar. When dollar is weak that oil buyers have to use Euros for payment to Russian oil, what if Euro’s value is threatened? Similar situation had acted four years ago when US had a financial crisis (the bankruptcy of Leman Brothers caused by sub-prime loan collapse), US resolved it by introducing the Greek financial crisis.

Wall St. Helped to Mask Debt Fueling Europe’s Crisis

By LOUISE STORY, LANDON THOMAS Jr. and NELSON D. SCHWARTZ

Published: February 13, 2010
Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts.

As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.

http://www.nytimes.com/2010/02/14/business/global/14debt.html?partner=rss&emc=rss&_r=0

If the high oil price would benefit enemy Russia, then US has to dig into the foundation of ally’s wallet. Last time the ignition was Greece, this time it is Portugal.

 

[katsung47]

845. Another way to weaken the Euro (7/21/2014)

The energy supply of Europe is heavily dependent on Russia. About one third to 40% of its natural gas and oil are imported from Russia. One important gas pipe is inside Ukraine. If there is a turmoil in Ukraine, the gas supply to Europe will be affected. The economy of Europe would be weakened, so be the Euro. That’s why we saw an upheaval in Ukraine.

Ron Paul Defends Russia After Malaysian Plane Crash
.
By Colin Campbell Jul 21, 2014,

One of those unreported things, Paul claimed in his weekly "Texas Straight Talk" column, was the United States' own responsibility for destabilizing the region. Ukraine is currently embroiled in violent conflict between the Ukrainian government and the pro-Russian separatists.

"They will not report that the crisis in Ukraine started late last year, when EU and US-supported protesters plotted the overthrow of the elected Ukrainian president, Viktor Yanukovych.

Without US-sponsored 'regime change,' it is unlikely that hundreds would have been killed in the unrest that followed. Nor would the Malaysian Airlines crash have happened," Paul wrote.

http://finance.yahoo.com/news/ron-paul-defends-russia-malaysian-151731466.html

Here EU used to be a follower of the US. I think the Europeans have sensed the coming danger the US will bring to them. German is a major power of EU. Recently, German has twice revealed two US spy cases and eventually expelled a CIA intelligence official. That’s unusual.

Germany Demands Top U.S. Intelligence Officer Be Expelled
Posted 10 July 2014 - 07:36 PM

BERLIN — Germany’s relations with the United States plunged to a low point Thursday, with the government demanding the expulsion of the chief American intelligence official stationed here because, it said, Washington has refused to cooperate with German inquiries into United States intelligence activities.

http://www.nytimes.com/2014/07/11/world/europe/germany-expels-top-us-intelligence-officer.html?_r=1

I would say German has sensed (or with its state ability, having the intelligence) that US would sacrifice European’s economy by creating a crisis in Europe. It could be terror attack; or war. The deportation of US intelligence official is just a warning or protest of disagreement. Several days later, Malaysia airliner MH17 was down in Ukraine.

 

[Windship]

the site seems to be more of an ad site

but it would have really bad consequences

for the Americans should we lose

the the worlds currency reserve status

It is going to happen. It is a mathematical certainty.
We cannot continue to just print money.
There are already 9 or so countries in the process of doing just that and another 10 or 11 in line to do the same thing. Watch this on youtube...Americans Are Living a Fantasy - The Illusion of Love, Wisdom, Happiness (2009)
Chris Hedges has nailed it! There are many vid's on youtube with Chris Hedges.

 

[Moonglow]

Russia is running out of cash fast...and they are already having food shortages. A military convoy was destroyed crossing into Ukraine and their so called humanitarian relief column is parked, kept from entering Ukraine until all vehicles are inspected...The USSR, er Russia is going to need to pull in app. 120 billion from outside sources to fund current levels of operation...

 

[percysunshine]

Russia is running out of cash fast...and they are already having food shortages. A military convoy was destroyed crossing into Ukraine and their so called humanitarian relief column is parked, kept from entering Ukraine until all vehicles are inspected...The USSR, er Russia is going to need to pull in app. 120 billion from outside sources to fund current levels of operation...

They could always sell a couple of nukes to Iran ... and then sell a couple more to Saudi Arabia when they get worried.

.

 

[Moonglow]

Russia is running out of cash fast...and they are already having food shortages. A military convoy was destroyed crossing into Ukraine and their so called humanitarian relief column is parked, kept from entering Ukraine until all vehicles are inspected...The USSR, er Russia is going to need to pull in app. 120 billion from outside sources to fund current levels of operation...

They could always sell a couple of nukes to Iran ... and then sell a couple more to Saudi Arabia when they get worried.

.

Take the Ruskies 20 years to train them how to use them....