Recent Posts and Categories

Putin Says The Petrodollar Must Die, "The Dollar Monopoly In Energy Trade Is Damaging Russia's Economy"

OWoN: How much longer can this bunch of Criminal halfwits Klingon?

I do not think you can mistake the intent from the world's largest producer of oil. You must remember that they also picked up 500,000 barrels from Iran on a long term supply basis just the other week.

One ponders what might happen if no Russian controlled oil was available on the open market in any other currency than Rubles to what the USD might do. And what the Saudis would do, coupled with how long would oil be in abundant supply, priced in USD.

If China is on side with Russia, the game started in the Ukraine will become most interesting and will clarify why ISIS exists to run oil through a existing pipe to Haifa from Erbil, of course from Exxon interests to be paid in USD or shall we say to secure supply and the profit stream. And yes that is why the military is protecting the area.

Europe has no idea of the mess they have become as part of a new US fiasco. Imagine what would happen if they were told that as of October 1st all deliveries of gas by Gazprom had to be paid in rubles as dollars were no longer acceptable. The only ones easily stepping up would be Germany with enough cross border trade. The question about Germany is not whether they are going to leave but when they are going to leave.

One muses about a possible PetroRuble and a metals backed Yuan vs. fiat currencies. And who would have thought that Russia and China would agree to such a play? The real excitement might just be around the corner, as a financial war becomes more heated, and board players are asked to ante up real hard value. Should the Comex find itself in a default position on gold and sliver, the metal advocates will be smiling. But then perhaps the Chinese will smile as well.

We definitely are not in Kansas anymore. As someone once said to me tomorrow's news was written yesterday. How long can such dimwits be left to run loose?

Zero Hedge
By Tyler Durden
14 August 2014

On one hand, despite initial weakness following Europe's triple-dip red alert, futures declined only to surge higher after some headline or another out of Russia was again spun to suggest imminent Ukraine de-escalation (something which Russia whose only interest is to keep crude prices high, has absolutely zero interest in), perpetuating a rumor which was set off by a Russian media outlet tweet last week that has sent S&P futures over 50 higher in less than a week on... nothing.

On the other, Putin just said the following, which no matter how one spins it, shows precisely how Russia is inclined vis-a-vis future (un-de-counter) escalations.


Reuters adds:

President Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia's economy.

"We should act carefully. At the moment we are trying to agree with some countries to trade in national currencies," Putin said during a visit to the Crimea region, which Moscow annexed from Ukraine earlier this year.

Countries such as China, India, Iran, Brazil, and virtually every other non-insolvent, that is to say "developed, Western" country.

And now, bring on the Russian "isolation" (which is about to push Europe, not Russia, into a triple-dip recession) and further de-escalation.



  1. One wonders if the CIA/Mossad created ISIS, ironically funded by Saudi Arabia, is now being used to intimidate Saudi Arabia and the Gulf States into not cosying up to Russia, China and Iran, and remaining faithful to the petro-dollar?

    1. Hi Valdi,
      I read last week that ISiS is Al-CIAda...At one point I believe the Saudi's were entertaining the switch over to the BRICS...

      Stuff is happening!

  2. ISIS is probably US backed (just my opinion). Putin's statement is probably shaking up quite a few people today.

  3. President Putin: Russia, Egypt To Create Free Trade Zone!

    Egypt and the countries of the Customs Union are looking into creating a free trade zone, Russian President Vladimir Putin said after meeting with his Egyptian counterpart Abdel Fattah al-Sisi at the Black Sea city of Sochi.

    “An important agreement was reached to establish cooperation between Egypt and the Customs Union [of Russia, Belarus and Kazakhstan],” said the Russian President. “And now we are looking at a possibility of creating a free trade zone.”

    He noted that this subject had been discussed at a meeting of the council of the Common Economic Space on July 7.

    The two presidents also agreed upon the creation of a Russian industrial zone in Egypt, which will be part of a new Suez Canal project.

    “Our talks have opened great prospects in this area. I hope that the creation of the Russian industrial zone in Egypt will become a component that will supplement the new Suez Canal project, which Egypt presented last week,” Sisi said.

    Egypt launched a Suez Canal development project worth $4 billion earlier in August. The project envisages digging a new canal parallel to the original built 145 years ago with the aim of speeding up traffic along the existing waterway and boosting the country’s economy.

    Western Coup Of Kiev Has Caused 1,129 Military Deaths To Date: Obama NATO Gives Kiev Non-NATO Partnership To Openly Control Ukraine.
    NWO Senate Attempts To Put World In Anachronistic Closet: Obama Escalates Ukrainian “Orchestrated Crisis”.

    Egypt to boost food exports to Russia

    Amid Moscow’s full ban of EU, US, Australian, Canadian, and Norwegian food exports to Russia, Egypt said it is ready to boost agricultural deliveries to Russia by 30 percent, Putin said. Moscow imposed sanctions on August 7 for one year in response to Western restrictions imposed on Russia over the Ukraine crisis.

    An increase of deliveries of citrus fruits, potatoes and onions from Egypt by 30 percent will close half of a possible deficit following Moscow’s ban on the import from some Western countries, said the head of the Ministry of Agriculture of the Russian Federation, Nikolay Fedorov as cited by RIA Novosti.

    During last year, Egypt’s deliveries of agricultural products to Russia amounted $440 million, meanwhile during the first half of this year, they have already supplied $460 million, said Fedorov.

    He added that the two leaders also agreed to simplify Egypt’s exports of goods to the Russian market, 90 percent of which account for agricultural products.
    Read entire article at link above...


If your comment violates OWON's Terms of Service or has in the past, then it will NOT be published.

Powered by Blogger.