View Poll Results: Will the Russian deCoupling from the Petrodollar hurt the US economy?

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Thread: Russia Announces Decoupling Trade From Dollar

  1. #21
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    Re: Russia Announces Decoupling Trade From Dollar

    Quote Originally Posted by DaveFagan View Post
    Russia Announces Decoupling Trade From Dollar

    Russia Announces Decoupling Trade From Dollar 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.
    This Economic Sea Change may bring the empire to its knees, without spilling a drop of blood. An area of new hope for justice and more equality, a rebirth of sovereign states, may dawn and turn the spiral of darkness into a spiral of light.
    Peter Koenig is an economist and former World Bank staff. He worked extensively around the world in the fields of environment and water resources.

    Will this affect the US Dollar?

    Did we give Russia any choice?

    Has the Ukraine interfernece been a huge mistake?

    Do you understand that Petrodollars creates an artificial demand for US Dollars?

    Do you realize that Saudi Arabian collusion supports Petrodollars?

    Does this bode ill for the US Economy?
    It doesn't bode ill and it also hasn't happened. Russia has not announced anything of the sort. Gazprom mentioned that it was trying to get customers to settle contracts in other currencies to avoid sanctions, but that is out of need not some delusional state policy. *Yawn*

  2. #22
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    Re: Russia Announces Decoupling Trade From Dollar

    Quote Originally Posted by CycloneWanderer View Post
    I would imagine that if this were actually happening it would be bigger news than just this one source.
    I think Russia would negotiate just a few deals to show that it can be done and the USA will back off and be willing to negotiate more fairly about Ukraine. Merkel has already requested that Russia take a more active role. That's the signal, in my opinion. It also recognizes that Russia has close relations with a large proportion of the Ukraine population or reality, as it were.

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    Re: Russia Announces Decoupling Trade From Dollar

    Quote Originally Posted by Sherman123 View Post
    It doesn't bode ill and it also hasn't happened. Russia has not announced anything of the sort. Gazprom mentioned that it was trying to get customers to settle contracts in other currencies to avoid sanctions, but that is out of need not some delusional state policy. *Yawn*
    It does not bode well if it does happen.

    You want to yawn at a potential approaching storm...go ahead.

    IMO, whether it has happened yet or not, it makes sense that if America tries to isolate Russia that the latter will sell it's oil/gas without using petrodollars. And China has stated on several occasions it's dislike for the U.S. Dollar as the world reserve currency.
    If the world's 2'nd largest oil and by far the largest natural gas exporter (Russia) and the second largest economy (China) stop using the petrodollar...that is potentially a VERY big deal for America...and none of it good in the short/medium term.

    Natural gas - exports - Country Comparison - TOP 20

    Sure, the OP does not constitute proof that it has happened. But to yawn at the possibility/potential of it seems somewhat naive to me.
    Last edited by DA60; 04-09-14 at 02:43 PM.

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    Re: Russia Announces Decoupling Trade From Dollar

    Quote Originally Posted by joko104 View Post
    No, Russia does not export a trillion in gas and oil annually, despite the pro-Russian blog saying so. Russia broke and nearly socially collapsed.
    Just picked up a hitchhiker, with the same IQ as a bag of rocks, who had come from writing on outhouse walls with crap. Your comments would fit right in. Might be a job for you there, eh?.


    http://www.infoplease.com/ipa/A0920630.htmlTop Energy Producers and Consumers
    The United States produces the most energy in the world, but it also uses the most—though China, the world’s second-largest energy consumer, is biting at our heels. Here's a look at the world's top 10 energy consumers and producers.

    Producers
    In 2006, total world Btu production was 469 quadrillion Btus. "Btu" is the abbreviation for British thermal unit. One Btu is nearly equal to the amount of energy released when a wood match is burned.

    Country Btus produced*
    United States 71 quadrillion Btu
    China 67.7 quadrillion Btu
    Russia 53.3 quadrillion Btu
    Saudi Arabia 24.7 quadrillion Btu
    Canada 19.3 quadrillion Btu
    Iran 13.1 quadrillion Btu

    *“Btu” is the abbreviation for British thermal unit. One Btu is nearly equal to the amount of

    Read more: Top Energy Producers and Consumers | Infoplease.com http://www.infoplease.com/ipa/A09206...#ixzz2yPaR7FLA
    Last edited by DaveFagan; 04-09-14 at 02:40 PM.

  5. #25
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    Re: Russia Announces Decoupling Trade From Dollar

    This string is another Goofy Joke by the OP.
    Noxious oversize Fonts added for extra insanity by him and conspiracy site infoclearinghouse.
    (Dow Jones higher yesterday and today)

    btw...
    "Russia is a Gas Station masquerading as a country".
    Last edited by mbig; 04-09-14 at 03:35 PM.
    I'm personally sick of not being able to dunk a basketball because of racism.
    anon

  6. #26
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    Re: Russia Announces Decoupling Trade From Dollar

    Quote Originally Posted by DaveFagan View Post
    I wish I read the article before voting. We're in trouble. If it were just Russia, I'd say no. If Russia gets China and Western Europe to join them in rewriting the global trade model leaving the US dollar out of the picture, heck yes we're in trouble.


    One thing we have going for us, is our ability to come up with new innovations. We need to supercharge our drive to innovate. I think part is giving statutorily guaranteed minimum percentage points on patent royalties so that our nation's brainiacs will have greater incentive to create new life-changing products and concepts and not be concerned that the stock holders of the company for which they work will own their billion dollar idea leaving them with nothing but a nominal paycheck and maybe a pay cut. If the incentive to create jobs is allowing the job creators to keep more of the wealth they build, its only logical and fair to say the incentive to create breakthrough products and ideas is allowing the inventors to keep more of the wealth build too.

    I think some sort of international system of punitive action needs to be built into global trade. If a country steals our or anybody else' intellectual property, they pay through the nose. Maybe require trading partners to put up security deposits that are forfeited if they steal patented products or forfeit loan repayments, etc.

    I think there are a few next big things out there I hope Americans will be the first to figure out.

    1. A new super-cheap method of desalinizing huge amounts of sea-water.
    2. A breakthrough in inexpensively harvesting hydrogen energy.
    3. A breakthrough in solar electric technology. The present technology only utilizes a small spectrum of sunlight to create electricity. Last I heard a European research team were only one discovery away from increasing the efficiency of solar electric panels by 500%. This means almost everyone everywhere could generate enough electricity to run their homes most of the time while creating hundreds tens of millions of jobs. I hope we beat the Europeans to it.
    4. Inexpensively creating super-strong lightweight composite material that could cheaply replace steel and other metals used in manufacturing, from automobiles to shipping to machinery to building construction.
    Having opinions all over the map is a good sign of a person capable of autonomous thinking. Felix -2011

  7. #27
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    Re: Russia Announces Decoupling Trade From Dollar

    Quote Originally Posted by DA60 View Post
    It does not bode well if it does happen.

    You want to yawn at a potential approaching storm...go ahead.

    IMO, whether it has happened yet or not, it makes sense that if America tries to isolate Russia that the latter will sell it's oil/gas without using petrodollars. And China has stated on several occasions it's dislike for the U.S. Dollar as the world reserve currency.
    If the world's 2'nd largest oil and by far the largest natural gas exporter (Russia) and the second largest economy (China) stop using the petrodollar...that is potentially a VERY big deal for America...and none of it good in the short/medium term.

    Natural gas - exports - Country Comparison - TOP 20

    Sure, the OP does not constitute proof that it has happened. But to yawn at the possibility/potential of it seems somewhat naive to me.
    Saying the OP doesn't 'not constitute proof' is mealy mouthed way of avoiding saying: It hasn't happened. At all. Also no it really wouldn't. It wouldn't threaten the dollar as the global reserve currency, it would be highly impractical for Russia, and far more damaging to them than to us. I once again *Yawn*.

  8. #28
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    Re: Russia Announces Decoupling Trade From Dollar

    Quote Originally Posted by Smeagol View Post
    I wish I read the article before voting. We're in trouble. If it were just Russia, I'd say no. If Russia gets China and Western Europe to join them in rewriting the global trade model leaving the US dollar out of the picture, heck yes we're in trouble.


    One thing we have going for us, is our ability to come up with new innovations. We need to supercharge our drive to innovate. I think part is giving statutorily guaranteed minimum percentage points on patent royalties so that our nation's brainiacs will have greater incentive to create new life-changing products and concepts and not be concerned that the stock holders of the company for which they work will own their billion dollar idea leaving them with nothing but a nominal paycheck and maybe a pay cut. If the incentive to create jobs is allowing the job creators to keep more of the wealth they build, its only logical and fair to say the incentive to create breakthrough products and ideas is allowing the inventors to keep more of the wealth build too.

    I think some sort of international system of punitive action needs to be built into global trade. If a country steals our or anybody else' intellectual property, they pay through the nose. Maybe require trading partners to put up security deposits that are forfeited if they steal patented products or forfeit loan repayments, etc.

    I think there are a few next big things out there I hope Americans will be the first to figure out.

    1. A new super-cheap method of desalinizing huge amounts of sea-water.
    2. A breakthrough in inexpensively harvesting hydrogen energy.
    3. A breakthrough in solar electric technology. The present technology only utilizes a small spectrum of sunlight to create electricity. Last I heard a European research team were only one discovery away from increasing the efficiency of solar electric panels by 500%. This means almost everyone everywhere could generate enough electricity to run their homes most of the time while creating hundreds tens of millions of jobs. I hope we beat the Europeans to it.
    4. Inexpensively creating super-strong lightweight composite material that could cheaply replace steel and other metals used in manufacturing, from automobiles to shipping to machinery to building construction.
    Uhh... That is like... the most gigantic of undertakings. No one is contemplating that at present. Even at the height of discontent over the dollar as the global reserve currency in the 2000's it was just a thought passed around. In the current economic climate no one is seriously talking about it. We can stop that train of thinking pretty much right there to be frank.

  9. #29
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    Re: Russia Announces Decoupling Trade From Dollar

    Quote Originally Posted by Smeagol View Post
    I wish I read the article before voting. We're in trouble. If it were just Russia, I'd say no. If Russia gets China and Western Europe to join them in rewriting the global trade model leaving the US dollar out of the picture, heck yes we're in trouble.


    One thing we have going for us, is our ability to come up with new innovations. We need to supercharge our drive to innovate. I think part is giving statutorily guaranteed minimum percentage points on patent royalties so that our nation's brainiacs will have greater incentive to create new life-changing products and concepts and not be concerned that the stock holders of the company for which they work will own their billion dollar idea leaving them with nothing but a nominal paycheck and maybe a pay cut. If the incentive to create jobs is allowing the job creators to keep more of the wealth they build, its only logical and fair to say the incentive to create breakthrough products and ideas is allowing the inventors to keep more of the wealth build too.

    I think some sort of international system of punitive action needs to be built into global trade. If a country steals our or anybody else' intellectual property, they pay through the nose. Maybe require trading partners to put up security deposits that are forfeited if they steal patented products or forfeit loan repayments, etc.

    I think there are a few next big things out there I hope Americans will be the first to figure out.

    1. A new super-cheap method of desalinizing huge amounts of sea-water.
    2. A breakthrough in inexpensively harvesting hydrogen energy.
    3. A breakthrough in solar electric technology. The present technology only utilizes a small spectrum of sunlight to create electricity. Last I heard a European research team were only one discovery away from increasing the efficiency of solar electric panels by 500%. This means almost everyone everywhere could generate enough electricity to run their homes most of the time while creating hundreds tens of millions of jobs. I hope we beat the Europeans to it.
    4. Inexpensively creating super-strong lightweight composite material that could cheaply replace steel and other metals used in manufacturing, from automobiles to shipping to machinery to building construction.
    You really struck a nerve here. I am an inventor and a patent holder. The system seems fair but if one managed a breakthrough energy invention, the Corporate status quo will tie you up until your patent expires. The system has been gamed by Big Old Money and most citizens don't know. You can't get shelf space (markets) without dealing with the status quo and it can become a double edged trap. As for deCoupling from the dollar, Russia would do enough small steps to make the threat real and then offer to stop in return for some prid pro quo. The citizens wouldn't be informed because they might suddenly realize the fragility of their economy.

  10. #30
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    Re: Russia Announces Decoupling Trade From Dollar

    Quote Originally Posted by mbig View Post
    This string is another Goofy Joke by the OP.
    Noxious oversize Fonts added for extra insanity by him and conspiracy site infoclearinghouse.
    (Dow Jones higher yesterday and today)

    btw...
    "Russia is a Gas Station masquerading as a country".
    The US Dollar was down yesterday and today.

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