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Russia Announces Decoupling Trade From Dollar

Will the Russian deCoupling from the Petrodollar hurt the US economy?

  • Total voters
    19
  • Poll closed .
Sherman123 said:
Lol. I'm sorry this makes you so upset. But neither the EU, nor China, nor anyone else that matters is contemplating a grand strategy and series of measures to overturn the dollar as the global reserve currency. Sorry!

PS: If you need a citation for that you've probably gone too far down the rabbit hole.

Edit: Though this very brief exchange might serve as a useful primer for you: http://economix.blogs.nytimes.com/2...-reserve-currency/?_php=true&_type=blogs&_r=0
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Hey, I tried to give you advice. You don't want to take it...go ahead.

Now, if you will excuse me, I have better things to do then waste my time 'debating' with someone who spouts off inaccurate statements and matter-of-fact points with zero unbiased, factual proof to back them up.

Just another nameless poster who thinks he knows-it-all and almost never backs anything they say up with links to unbiased proof.

:yawn:

We are done on this for now...until I get bored again.


Good day.
 
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joko104 said:
It is accurate that most country's citizens can withstand more economic shock - since they are basically in constant personal economics desperation anyway.

What was learned in the breakup of the USSR is that they were far, far more afraid of us than we were of them. A foreign policy cannot be based upon fear that the other side will totally destroy itself just to try to get to you. The FEAR of nuclear attack by Russia is a WORTHLESS fear. They no more want to die than anyone else. Foreign policy is a combination of playing chicken and poker. The fact is the USA holds an overwhelming superior hand and has no reason to fold.

Russia seizing Crimea increased their long term extortion of Europe via seizing Crimea's offshore natural gas. This also affects us too. Those who claim Russia seizing Crimea has no significance to us are wrong.
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It has significance but possibly more for them than us. They may fear us more, which makes them doubly dangerous. A fearful person is more likely to kill you than an angry one.

We can put our foot down, without turning it to an all out challenge. Strategic geopolitics is more than military and economic positioning, but also global allies and long term trade ramifications.
 
grip said:
According to the article, "In 2010, more than 30 percent of the E.U.’s oil and natural gas came from Russia."

Argue with the reporting of those articles, not me.
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My fault I misspoke, I meant 10% of it's energy needs (give or take) point being much lower than presented. There are very few (if any I'd have to check) any major HFO plants in Europe, and the electricity load is far more dependent on coal and nuclear than it is on natural gas. Factoring in total energy consumption for the EU and natural gas clocks in at about 23-25% of which about 24-31% comes from Russia. People don't make enough of an effort to distinguish between gas and energy consumption, gas is just one of several loads in use.

U.S. Energy Information Administration (EIA)
 
DA60 said:
Hey, I tried to give you advice. You don't want to take it...go ahead.

Now, if you will excuse me, I have better things to do then waste my time 'debating' with someone who spouts off inaccurate statements and matter-of-fact points with zero unbiased, factual proof to back them up.

Just another nameless poster who thinks he knows-it-all and almost never backs anything they say up with links to unbiased proof.

:yawn:

We are done on this for now...until I get bored again.


Good day.
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I'm sorry you have so much emotionally invested in this being true. =/
 
Fearandloathing said:
You are going to have to supply a credible link to that.

First, I have never seen the 10% figure anywhere, while most reports have the oil and gas trade at 30%.

further, I doubt "the west" has deeper pockets, the EU is a large economy, but I seem to recall some banking and debt issues, and the US economy is anything but hale. At $18 trillion and growing, the issue of comparative debt is kind of moot.

These issues are what is termed "trade inconvenience", petty stuff, which the US LOVES.

In the grand scheme of things, Russia had had a peace time economy and a growing one since the 90's, while the US has been involved in endless and costly wars, the opposite of the last cold war.....

I would say the advantage is Russia's
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They have infinitely deeper pockets precisely because they have the capacity to borrow more. Dollar hegemony ftw. Russia on the other hand has 25% of it's GDP staked on exporting oil and gas to Europe.
 
Fearandloathing said:
Link?

So far you're giving us speculation.....
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Are you serious? I need a link to show that Western countries have greater borrowing capacity? Or that the dollar as a reserve currency is one factor that abets this? Good grief.
 
joko104 said:
:lamo OK, now it makes sense. You came up with some gizmo and thought you'd make a gzillion dollars. But no one wanted whatever it is and therefore there must be some vast corporate-banking-US government conspiracy against you - for which you hate America and everything about it - and think you could make a deal with Putin. :2razz:

But tell us, if there is a stick of truth to it, want did you invent and patent? Since you patented it you can go ahead and tell us.
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Regrettably, the rascist, often ignorant nature of your many posts do not approach the bounds of common courtesy, ergo I reccommend that you hold your hand over your butthole while I contemplate a reply, or not, eh?
 
grip said:
It has significance but possibly more for them than us. They may fear us more, which makes them doubly dangerous. A fearful person is more likely to kill you than an angry one.

We can put our foot down, without turning it to an all out challenge. Strategic geopolitics is more than military and economic positioning, but also global allies and long term trade ramifications.
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Again, Russia has no first strike strategy and only retaliatory tactics. They were continually afraid they would do something that would cause the USA to panic and strike first. So they always backed down. Foreign policy can not be built around fear of nuclear holocaust between major nuclear powers as that isn't an option any have - Russia knows that as well as we do.
 
DaveFagan said:
Regrettably, the rascist, often ignorant nature of your many posts do not approach the bounds of common courtesy, ergo I reccommend that you hold your hand over your butthole while I contemplate a reply, or not, eh?
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Do you call everyone a racist? It seems to play an important role in your name calling.
 
Do you guys remember that time when the Euro was introduced, and how it replaced the Dollar as the global currency, thus sinking the United States and the dollar in to mediocrity?

Yeah, me either.

I remember them talking about it though. And by "them," I mean high ranking European officials back in the 90's.

We'll get a republican in the white house in 2016, and all will be well.
 
Peter Grimm said:
Aren't we lucky we elected such an EXPERIENCED and capable president to lead us through these perilous times?

I'm sure Obama's response will be swift, decisive, and effective. Lol, I almost said all that with a straight face. We're screwed until 2016.
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Out of curiosity, what would your favoured choice of president do?

The US has already targeted several of the oligarchs who run Russia's oil industry; one having to sell his interests as the company took a big hit on the stock markets; Russian banks have huge debts of $650bn which they now cannot refinance due to American sanctions and action on business with Russia.

Russia's South Stream pipeline to Europe has also been stopped (even if Siemens have recently signed contracts to supply equipment)

Just because the US hasn't sent troops on the ground or isn't forcing a military standoff does not mean nothing is being done.
 
Infinite Chaos said:
Out of curiosity, what would your favoured choice of president do?

The US has already targeted several of the oligarchs who run Russia's oil industry; one having to sell his interests as the company took a big hit on the stock markets; Russian banks have huge debts of $650bn which they now cannot refinance due to American sanctions and action on business with Russia.

Russia's South Stream pipeline to Europe has also been stopped (even if Siemens have recently signed contracts to supply equipment)

Just because the US hasn't sent troops on the ground or isn't forcing a military standoff does not mean nothing is being done.
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Pressure China and Germany to back out of this deal with Russia behind the scenes. Respond more decisively to the Russian aggression against Ukraine.
 
Infinite Chaos said:
Pressure on Merkel has already happened, that and Putin lying twice to her about crimea and Russian troops being on Ukraine's borders.

Russia's South Stream pipeline in deep freeze as EU tightens sanctions noose - Telegraph



Such as?
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This is really Germany's struggle, moreso than the United State's. Really, we're taking a hit for coming to Europe's aid, so it ought to be a foregone conclusion that Germany will not stab us in the back by making a deal with the Russians.
 
Peter Grimm said:
They should never have allowed Russia to annex Crimea. They should have supported the Ukrainian government before the annexation occurred.
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jump feet first into a volatile situation even though we were in no position to stop russia from doing so?
 
Unitedwestand13 said:
jump feet first into a volatile situation even though we were in no position to stop russia from doing so?
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Ukraine would have fought to keep Crimea if needed, Russia would not have tested us if we had shown strength rather than weakness to begin with.
 
Peter Grimm said:
This is really Germany's struggle, moreso than the United State's. Really, we're taking a hit for coming to Europe's aid, so it ought to be a foregone conclusion that Germany will not stab us in the back by making a deal with the Russians.
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I'm struggling to understand how this relates to what a more decisive American President would do?

Or did you mean the decisive action being that he/she would ask Germany to deal with Russia?
 
Peter Grimm said:
Ukraine would have fought to keep Crimea if needed, Russia would not have tested us if we had shown strength rather than weakness to begin with.
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and if we had engaged in a conflict without the strength to back up our tough talk we would end up getting burned.

and are you willing to engage in a bloody conflict?
 
DaveFagan said:
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 20[SUP]th[/SUP] 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?
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It will decrease the transaction volumes in dollars marginally, but that has been happening for some time. The sanctions and the continuous conflicts are bad for everyone, but reducing American costs for international security will help the usa initially. If the reduced US activity leads to a multi polar architecture of security that would be dangerous for everyone.
 
Unitedwestand13 said:
and if we had engaged in a conflict without the strength to back up our tough talk we would end up getting burned.

and are you willing to engage in a bloody conflict?
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A proxy war? Sure. Ever hear of the time the Afghans beat the Soviets? That's kind of what I have in mind.
 
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