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Russia Announces Decoupling Trade From Dollar

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


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DaveFagan

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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?
 
This standoff with Russia is going to be bad for the U.S. economy in the long run.
 
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?

Russia stealing 10 trillion cubic feet of natural gas from Ukraine was a huge prize for them to take - plus all of the rest of Ukraine's resources in Crimea.

But not of that matters. The only thing that matters is that we don't use Alaska's oil - maybe let Russia take it too.
 
The USA could shatter Russia's economy, but we have a president and advisors who haven't a clue what to do and are afraid to try.
 
The OP's article is basically a socialist's publication and there is little reason to believe it. Russia does not have a trillion dollars in petro/gas sales.

The USA should accept Putin's challenge and run Russia into a 3rd world economy.

I'm getting tired of the OPer flooding the forum with his rabid hatred of the United States and his love of Putin and communism.
 
This standoff with Russia is going to be bad for the U.S. economy in the long run.

If it effects the US negetively, then it will also effect the Russian economy. No economy exists in a bubble. Just as the old defense spending between the US and USSR created large deficits in the US, it was credited with bankrupting the USSR.
 
Russia stealing 10 trillion cubic feet of natural gas from Ukraine was a huge prize for them to take - plus all of the rest of Ukraine's resources in Crimea.

But not of that matters. The only thing that matters is that we don't use Alaska's oil - maybe let Russia take it too.

Where's the link documenting this 10 trillion cubic feet theft. The truth is that Russia was helping Ukraine by selling Ukraine Russian gas well below World Market Prices ($268mcf). Ukraine used much of the gas domestically and re-sold the rest to the EU (Europe) at World Market prices ($500mcf) turning a very nice profit to Ukraine, and essentially a gift from Russia. Ukraine didn't pay for the gas and is $2.2 billion behind and Russia has now begun charging Ukraine World Market prices ($500mcf) for this gas. Russia is one of the World's largest exporters of Hydrocarbon fuels, oil and gas. Get your brain in gear before attacking your keyboard. Find out how the world, including the USA, really works. USA is in huge debt, in the red. Russia is operating at a huge surplus, in the black, don't ya' know. USA made a deal with the scumbag Saudis to price OIL in US Dollars , forcing all Nations to hold a surplus of US Dollars to pay for OIL imports. That created a huge false demand for US Dollars and the new Russian policy lowers that demand. It's logical the US Dollar will lose value proportionately. Long story short is that the USA should never have created this insurrection and coup d'etat in Ukraine. It's going to bite us. Big time.
 
Putin has badly damaged his own economy by taking this move, and it will slowly degrade Russian economic influence. As for the impact on the Dollar....probably very little, if any.
 
Where's the link documenting this 10 trillion cubic feet theft. The truth is that Russia was helping Ukraine by selling Ukraine Russian gas well below World Market Prices ($268mcf). Ukraine used much of the gas domestically and re-sold the rest to the EU (Europe) at World Market prices ($500mcf) turning a very nice profit to Ukraine, and essentially a gift from Russia. Ukraine didn't pay for the gas and is $2.2 billion behind and Russia has now begun charging Ukraine World Market prices ($500mcf) for this gas. Russia is one of the World's largest exporters of Hydrocarbon fuels, oil and gas. Get your brain in gear before attacking your keyboard. Find out how the world, including the USA, really works. USA is in huge debt, in the red.

Russia is operating at a huge surplus, in the black, don't ya' know.

USA made a deal with the scumbag Saudis to price OIL in US Dollars , forcing all Nations to hold a surplus of US Dollars to pay for OIL imports. That created a huge false demand for US Dollars and the new Russian policy lowers that demand. It's logical the US Dollar will lose value proportionately. Long story short is that the USA should never have created this insurrection and coup d'etat in Ukraine. It's going to bite us. Big time.

More lies. It was the Russian installed President that pilfered off billions and caused the internal chaos. When the Parliament VOTED to remove him as an emergency matter, the traitor fled to Russia to organization Russian takeover of Crimea.

Your messages are dependent upon the most grotesque of lies. Russia is NOT in the black. Killing and deporting non-whites is not "justice," and I already posted the link and even started a thread on the massive volumes of natural gas, resources and agriculture Russia stolen in its military conquest of Crimea.

Russia's debt: 7+ trillion

Russia Debt Clock :: National Debt of Russia

Post more lies in your fantasyland of a rebirth of Stain's empire.

The USA could crush Russia economically if we had a half competent president.

Post more of your praises of Putin's condemnations and laws against LGTBs and his promising to deport Tartar Muslims from Crimea on behalf of your goal of a pure white heterosexual run communist world.
 
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Putin has badly damaged his own economy by taking this move, and it will slowly degrade Russian economic influence. As for the impact on the Dollar....probably very little, if any.

I don't agree with that. Putin was almost forced to make this move to prevent Central Bank manipulation of the Ruble. Nations that deal with Russia will sell US Dollars to buy Rubles to pay for Russian goods. After all is said and done, Russia is one of the World's largest exporters of oil and gas. A Trillion dollars worth per annum. Germany is one of Russia's largest customers and that is not going to change. I see the US Dollar on damn shaky footing because of our humungous debt, both funded and unfunded. The whole house of cards is kept together by one huge "Confidence" pump of alleged fiscal experts stating in Mainstream Media that they have great "confidence" going forward. They are confident in economic moves at this time. Low unemployment (manipulated) figures give us "confidence" our policies are working. Keep repeating these mantras until your confidence balloon is fully inflated and if it springs a leak, not to worry, pump more confidence, no need to fix the leak. I mean, it's all about confidence, don't you think?
 
Russia is once again playing the charade game that the Soviet Union attempted to play in the waning years of their dominance. Russia and China have worked for years to balance the US influence in the world (Shanghai Cooperation Organization), and to some degree have. But this is not due to their tangible power. Both Russia and China have very shaky economies, held together in the case of Russia by oil and gas sales. Thus, Russia is simply a larger Iran. Cut-off the oil and gas money and they will collapse.

That being said, the US needs to get a clear foreign policy in place. Obama has been focused on fighting terror but horrible in defining an overall foreign policy agenda. The US needs to begin leading again and standing up for the rights of humanity, placing aside reactionary responses and end the coupling of foreign action/intervention to economic gains. We have been weighing economic gains of every action for too long. Sometimes a nation needs to act on whats right regardless if there is a profit to be made.
 
More lies. It was the Russian installed President that pilfered off billions and caused the internal chaos. When the Parliament VOTED to remove him as an emergency matter, the traitor fled to Russia to organization Russian takeover of Crimea.

Your messages are dependent upon the most grotesque of lies. Russia is NOT in the black. Killing and deporting non-whites is not "justice," and I already posted the link and even started a thread on the massive volumes of natural gas, resources and agriculture Russia stolen in its military conquest of Crimea.

Russia's debt: 7+ trillion

Russia Debt Clock :: National Debt of Russia

Post more lies in your fantasyland of a rebirth of Stain's empire.

The USA could crush Russia economically if we had a half competent president.

Post more of your praises of Putin's condemnations and laws against LGTBs and his promising to deport Tartar Muslims from Crimea on behalf of your goal of a pure white heterosexual run communist world.


I'm surprised your rascist views are tolerated on this board.
 
Pure unadulterated rubbish.

"Russia" never had "announced" anything of the sort, and not going to: Russia is one of the prime beneficiaries of the "petrodollar" status quo. It sells hydrocarbons (extracted with staggering inefficiency), it gets hard currency for its war chest. Does anyone seriously believe it is going to switch to roubles (in a free fall since the Crimean aggression)? Hey, why not the Zimbabwean dollar? Zimbabwe was among the few (uniformly totalitarian) countries that supported Putin in the UN.

Glazyev and other clowns over there are paid (not too much, I presume) for cheap "patriotic" posturing. Nothing more to it.
 
Russia is once again playing the charade game that the Soviet Union attempted to play in the waning years of their dominance. Russia and China have worked for years to balance the US influence in the world (Shanghai Cooperation Organization), and to some degree have. But this is not due to their tangible power. Both Russia and China have very shaky economies, held together in the case of Russia by oil and gas sales. Thus, Russia is simply a larger Iran. Cut-off the oil and gas money and they will collapse.

That being said, the US needs to get a clear foreign policy in place. Obama has been focused on fighting terror but horrible in defining an overall foreign policy agenda. The US needs to begin leading again and standing up for the rights of humanity, placing aside reactionary responses and end the coupling of foreign action/intervention to economic gains. We have been weighing economic gains of every action for too long. Sometimes a nation needs to act on whats right regardless if there is a profit to be made.

I take exception to much of what you say. The USA has been leading a War of Terror against Libya, Egypt, Ukraine, Syria, Iraq, Venezuela, Haiti, and who knows what other Nations. Take a good look at Libya. We fund the terrorists. Take a good look at Syria. We fund the terrorists. Take a good look at Egypt. We fund the terrorists. Take a good look at Haiti. We are the terrorists. Fer keeerise sakes, man, take off the blinders. The Military Industrial Complex needs wars, threats of war, terror to stay in business and since we are a Corporate Empire, we keep these morons in business. If you don't have a hot war, start one. If you can't find a hot war, have the Mainstream Media create a alleged "terrorist" threat and expand it until military sale are good. Hot damn, man, it's just bidness, to quote an infamous ex-President.
 
I take exception to much of what you say. The USA has been leading a War of Terror against Libya, Egypt, Ukraine, Syria, Iraq, Venezuela, Haiti, and who knows what other Nations. Take a good look at Libya. We fund the terrorists. Take a good look at Syria. We fund the terrorists. Take a good look at Egypt. We fund the terrorists. Take a good look at Haiti. We are the terrorists. Fer keeerise sakes, man, take off the blinders. The Military Industrial Complex needs wars, threats of war, terror to stay in business and since we are a Corporate Empire, we keep these morons in business. If you don't have a hot war, start one. If you can't find a hot war, have the Mainstream Media create a alleged "terrorist" threat and expand it until military sale are good. Hot damn, man, it's just bidness, to quote an infamous ex-President.

I said in my quote that our foreign policy has been too long coupled to profit making. This leads us to act in countries where the cost of acting is lower than the cost of staying out. That is not the way the US foreign policy should operate. The US should be the beacon for human rights, democracy, and freedom around the world. In order to do this, we must balance our economy so that it works again for all Americans and the Middle Class is strengthened. Then, we represent these principles abroad and protect those interests regardless if doing so may not be profitable in the economic sense.

With regards to what I stated about Russia, you may dispute if you wish, but the economy is that of Iran on a grander scale and if you cut-off those profits from oil and gas, the Russian economy will collapse. Putin's biggest failure is that he is living in past glories of the Soviet Union and acts in the same manner as the Soviet rulers of old. That is a failed system, and it will fail again. Thus, he is just an old man clinging to a failed ideology that will lead to the suffering of the Russian people.
 
I don't agree with that. Putin was almost forced to make this move to prevent Central Bank manipulation of the Ruble. Nations that deal with Russia will sell US Dollars to buy Rubles to pay for Russian goods. After all is said and done, Russia is one of the World's largest exporters of oil and gas. A Trillion dollars worth per annum. Germany is one of Russia's largest customers and that is not going to change. I see the US Dollar on damn shaky footing because of our humungous debt, both funded and unfunded. The whole house of cards is kept together by one huge "Confidence" pump of alleged fiscal experts stating in Mainstream Media that they have great "confidence" going forward. They are confident in economic moves at this time. Low unemployment (manipulated) figures give us "confidence" our policies are working. Keep repeating these mantras until your confidence balloon is fully inflated and if it springs a leak, not to worry, pump more confidence, no need to fix the leak. I mean, it's all about confidence, don't you think?

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.
 
Pure unadulterated rubbish.

"Russia" never had "announced" anything of the sort, and not going to: Russia is one of the prime beneficiaries of the "petrodollar" status quo. It sells hydrocarbons (extracted with staggering inefficiency), it gets hard currency for its war chest. Does anyone seriously believe it is going to switch to roubles (in a free fall since the Crimean aggression)? Hey, why not the Zimbabwean dollar? Zimbabwe was among the few (uniformly totalitarian) countries that supported Putin in the UN.

Glazyev and other clowns over there are paid (not too much, I presume) for cheap "patriotic" posturing. Nothing more to it.

The OPer worships Putin and Russia, while wanting the USA destroyed, so incessantly starts threads like this. The article is just a false Putin pump-piece.
 
Where's the link documenting this 10 trillion cubic feet theft. The truth is that Russia was helping Ukraine by selling Ukraine Russian gas well below World Market Prices ($268mcf). Ukraine used much of the gas domestically and re-sold the rest to the EU (Europe) at World Market prices ($500mcf) turning a very nice profit to Ukraine, and essentially a gift from Russia. Ukraine didn't pay for the gas and is $2.2 billion behind and Russia has now begun charging Ukraine World Market prices ($500mcf) for this gas. Russia is one of the World's largest exporters of Hydrocarbon fuels, oil and gas. Get your brain in gear before attacking your keyboard. Find out how the world, including the USA, really works. USA is in huge debt, in the red. Russia is operating at a huge surplus, in the black, don't ya' know. USA made a deal with the scumbag Saudis to price OIL in US Dollars , forcing all Nations to hold a surplus of US Dollars to pay for OIL imports. That created a huge false demand for US Dollars and the new Russian policy lowers that demand. It's logical the US Dollar will lose value proportionately. Long story short is that the USA should never have created this insurrection and coup d'etat in Ukraine. It's going to bite us. Big time.

Fantastic post...you really know your stuff on this (IMO).

What so many people seem to not realize is that the main reason America can run such gigantic deficits is the petrodollar...that oil is priced in U.S. Dollars.
If this ends thn the U.S. Dollar as the world reserve currency will soon end...and that will spell huge price rises for many things in America (being Wmerica is a large net importer country).

IMO, considering how little America can gain from meddling in the Ukraine...I think the Obama administration is acting foolishly and should generally mind it's own business because if these actions force Russia/China to abandon petrodollars...that can only be bad news for America.

If Russia actually invades the Ukraine, then fine...do something then. Short of that, butt out - or at least stop with the silly threats that mean little.
 
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I would imagine that if this were actually happening it would be bigger news than just this one source.
 
This standoff with Russia is going to be bad for the U.S. economy in the long run.

Wars or sour relations tend to be, unless you are in one of a few industries
 
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?

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*
 
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.
 
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.
 
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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/A0920630.html#ixzz2yPaR7FLA
 
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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".
 
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