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Thread: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

  1. #11
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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    Quote Originally Posted by Sherman123 View Post
    Because it isn't a major blow to the US and it's a minor news story. It's a protective measure because of the sanctions regime.
    Ok, that's a nice opinion, and there's posted here opinions of some in the financial sector that have a different opinion. Guess we'll see, and hope in the meantime that you're the correct one.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    Quote Originally Posted by Montecresto View Post
    Well, that's a very good question. Obviously I'm not, that's why I helped you with those links. I just can't figure out the risks we are taking with Russia, over the Ukraine, and particularly because Russia is desperate to resist, and apparently at all cost, NATO expansion eastward! And from my chair, quite understandably.
    Right. In my opinion, what we should have said to Putin from the beginning is:

    "Buddy, Ukraine is your backyard. Your problem. A basket case. A mess. Ethnic strife, neo-Nazis, rotten economy... The Pottery Barn rule: you break it, you own it. Good riddance. The West has nothing to gain from Ukraine. You want to annex it, be my guest. You may regret it later because it is no good; you'll be inheriting a bunch of problems, massive unemployment, failed state. I mean, you still want to invade, annex? Do as you please in your own backyard. Don't mess with NATO territory, though; that's a line you can't cross; on the other hand, we should probably stop expanding eastward. Let's be nice to each other, keep the status quo, continue to trade and prosper."

    Period.

    Why in the hell are we risking the status of the petrodollar over Ukraine???? We have much bigger fish to fry than Ukraine. We shouldn't have engaged in any sanctions against Russia. We should have treated this from the beginning as a regional conflict that is not our problem.

    What is wrong with our administration? It's a very confused approach to foreign policy.

    Let's just leave Russia alone.

    There's been no more detrimental move in terms of geopolitical equilibrium, than NATO's eastward expansion. It helps some businessmen who have trade interests in Eastern Europe (which is why it was done). It screws everybody else, and destabilizes Europe.

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    Educator GreatNews2night's Avatar
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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    Quote Originally Posted by Sherman123 View Post
    Because it isn't a major blow to the US and it's a minor news story. It's a protective measure because of the sanctions regime.
    If if stays this way, sure.

    However if the BRICS move away from petrodollars, other countries follow their lead, the Saudis get tired of the US and approach China, and so on and so forth, we're screwed. You are thinking short term and small picture. I'm apprehensive for the mid-long term and big picture.

    I think there is reason to be concerned, and I definitely don't like where this is going.

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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    Quote Originally Posted by GreatNews2night View Post
    If if stays this way, sure.

    However if the BRICS move away from petrodollars, other countries follow their lead, the Saudis get tired of the US and approach China, and so on and so forth, we're screwed. You are thinking short term and small picture. I'm apprehensive for the mid-long term and big picture.

    I think there is reason to be concerned, and I definitely don't like where this is going.
    Uh-huh. When the fundamental characteristics of the global monetary system change (which is basically what you're saying) I'll take notice. No one cares about this. The dollar closed up by the way.

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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    Quote Originally Posted by GreatNews2night View Post
    Really? But what about this part?

    Then these dollars will soon come crashing back to American shores, and the inflation America has exported offshore for decades will come rudely back and suddenly hit U.S. consumers and our financial system.
    No.

    It's not that straight-forward.

    And it's not like montecresto says, like Russia has this master-plan to get rid of the dollar as the worlds' reserve currency.
    The reason the dollar is used as a reserve currency has nothing to do with petrol. It's because it's a currency of a steady value (that's why it's important to not default on the debt, or not have clowns in congress who threaten the steadyness of the dollar) and because a lot of countries and a lot of people like to have dollars coz they're traded everywhere. So if you go all over the world on holiday, you should take dollars with you coz every single exchange house or bank will exchange dollars for the local currency. So that's like, on an individual level. On a macro-level, national banks in many countries hold dollars or euros as currency in the bank. And because wall street trades in dollars... as do many other places... etc.

    So no, don't worry, this isn't that big a deal.

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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    Quote Originally Posted by GreatNews2night View Post
    Right. In my opinion, what we should have said to Putin from the beginning is:

    "Buddy, Ukraine is your backyard. Your problem. A basket case. A mess. Ethnic strife, neo-Nazis, rotten economy... The Pottery Barn rule: you break it, you own it. Good riddance. The West has nothing to gain from Ukraine. You want to annex it, be my guest. You may regret it later because it is no good; you'll be inheriting a bunch of problems, massive unemployment, failed state. I mean, you still want to invade, annex? Do as you please in your own backyard. Don't mess with NATO territory, though; that's a line you can't cross; on the other hand, we should probably stop expanding eastward. Let's be nice to each other, keep the status quo, continue to trade and prosper."

    Period.

    Why in the hell are we risking the status of the petrodollar over Ukraine???? We have much bigger fish to fry than Ukraine. We shouldn't have engaged in any sanctions against Russia. We should have treated this from the beginning as a regional conflict that is not our problem.

    What is wrong with our administration? It's a very confused approach to foreign policy.

    Let's just leave Russia alone.

    There's been no more detrimental move in terms of geopolitical equilibrium, than NATO's eastward expansion. It helps some businessmen who have trade interests in Eastern Europe (which is why it was done). It screws everybody else, and destabilizes Europe.

    ...

    You don't understand anything.

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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    'Russia Touches U.S. Achilles Heel: Petrogold instead of petrodollar

    The US government feels the need to intervene in the Russian issue with Ukraine. If it wasn’t for an economic reason, nobody could come up with a valid argument explaining what the US has to do with a former USSR geopolitical issue. Is it really true that US policy makers leverage these “opportunities” as they desperately seek for GDP growth which they can’t find elsewhere?

    Today’s Russia is not governed by an alcohol addict named Jeltsin. Putin, with his roots in the KGB, clearly does not feel any intimidation by the US cabal. By contrast, his answer to the US warnings goes straight to the Achilles heel of the US: the US Dollar based global oil system, also known as “Petrodollar.”

    However, like with the Syrian crisis of last September, Russia is quickly retaliating with their own economic threats, and one major action that they could undertake as a response is to discard the Petro-Dollar and demand physical gold as payment for energy purchases in both oil and natural gas.

    'Russia Touches U.S. Achilles Heel: Petrogold instead of Petrodollar' - Daily Mail Forum | Mail Online
    Killing one person is murder, killing 100,000 is foreign policy

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    Educator GreatNews2night's Avatar
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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    Quote Originally Posted by Rainman05 View Post
    ...

    You don't understand anything.
    Really? Enlighten me, then, please. What is the explanation that is alternative to mine and explains (understands) everything?

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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    Quote Originally Posted by shrubnose View Post
    I just checked and right now the U.S. Dollar is going up.
    1-day movement is not indicative of mid-term and long-term.

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    Re: Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

    Quote Originally Posted by Rainman05 View Post
    ...

    You don't understand anything.


    Riiiiight...he doesn't 'understand anything'.

    He doesn't understand English or how to work a computer/tablet/smartphone or what Russia is or who Putin is or what the petrodollar is or what gold is or....

    Last edited by DA60; 08-29-14 at 08:35 AM.

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