"A Paradigm Shift Western Media Hasn't Grasped Yet" - Russian Ruble Linked To Gold & Commodities

https://www.zerohedge.com/commoditi...-yet-russian-ruble-relaunched-linked-gold-and

"The Bank of Russia’s move to link the ruble to gold and link commodity payments to the ruble is a paradigm shift that the western media has not really yet been grasped. As the dominos fall, these events could reverberate in different ways. Increased demand for physical gold. Blowups in the paper gold markets. A revalued gold price. A shift away from the US dollar. Increased bilateral trade in commodities among non-Western counties in currencies other than the US dollar."

Steal other country's reserves...don't be surprised when the rest of the really free world decides to abandon the dollar/euro.

Russia is taking care of the nazi problem in Ukraine and the US/EU/UK is losing the global economic war.

 

Tyler Durden?

Seriously??

Russia is buying gold to support the ruble. That is no paradigm shift... that's Russia trying limit the damage.

They're also buying at a premium. Since gold has been sanctioned, you have to wonder if it will do any good beyond helping some banks.

 

First rule of the Fight Club - you do not talk about the Fight Club!
Second rule of the Fight Club - you do not talk about the Fight Club!

Tyler Durden.

 

No. They are an aggregator. Ronan Manly of Bullionstar.com. Your claim is as silly as the claim that the store that sold you the article is the "source" of the opinion cited. You are lucky that we all are so patient with you folks and take the time to explain the painfully obvious in clear and easily understood terms.

Some of the Left has a mental list of their received sources, and like middle ages ignorant peasants who knew only who their religious authorities were and that they were not be "tempted" by heresy, they spot a 'source' that isn't on their "approved list" of authorities and the discussion stops there with them pointing out that it's "unapproved" source. No evidence is shown to be able to read thoughts and weigh them against reality, and this is after a few generations of our society spending untold $Billions on education. It would not surprise me if you held an advanced degree from a decent university. I've been in discussions in groups with several who had masters degrees and still the same response that differs little from a middle ages uneducated fundies.

"By offering to buy gold from Russian banks at a fixed price of 5000 rubles per gram, the Bank of Russia has both linked the ruble to gold and, since gold trades in US dollars, set a floor price for the ruble in terms of the US dollar."

The linkage has been in place since March 25. "The ruble was trading at around 100 to the US dollar at that time, but has since strengthened and is nearing 80 to the US dollar."

What does this mean for Oil?

"Russia is the world’s largest natural gas exporter and the world’s third largest oil exporter. We are seeing right now that Putin is demanding that foreign buyers (importers of Russian gas) must pay for this natural gas using rubles. This immediately links the price of natural gas to rubles and (because of the fixed link to gold) to the gold price. So Russian natural gas is now linked via the ruble to gold."

"If Russia begins to demand payment for oil exports with rubles, there will be an immediate indirect peg to gold (via the fixed price ruble – gold connection). Then Russia could begin accepting gold directly in payment for its oil exports. In fact, this can be applied to any commodities, not just oil and natural gas."

 

They don't read nor pay attention. They like the ostrich's fabled position.

And this today:

Kremlin spokesman Dmitry Peskov said on Sunday that Russia is likely to extend its requirement of payments in rubles from gas to other exported goods.

Peskov also warned that the sanctions against Russia could result in "the erosion of confidence in the dollar and the euro" and prompt other countries to "work out options for mutual settlements of national currencies."

gas, oil, wheat, titanium...you name it...all commodities will soon be paid for in rubles

 

“The feeling is one I have had since the beginning, that it is absolutely not simple to change the currency of payments without violating the contracts,” Draghi said.

The French and German finance ministers also said after meeting in Berlin that contracts can’t simply be altered and that they would examine what Putin has proposed.

Meanwhile, Draghi also told the foreign press corps that Europe is pushing for a cap on gas prices with Russia, saying its payments are funding the war in Ukraine and the prices being paid by Europe are out of line with the global market.

“We — Germany and Italy, along with other countries that are importers of gas, coal, grains, corn — are financing the war. There is no doubt,’’ Draghi said. “For this reason, Italy along with other countries, are pushing for a cap on the price of gas. There is no substantial reason that the price of gas is so high for Europeans.”
https://www.newsnationnow.com/world...ands-rubles-for-gas-leaves-currency-loophole/

Europe is pushing back. The way you guys will up and believe anything, is really something. I don't think Putin can win this one. Russians have always had a cavalier attitude towards contracts. They tend to see them as an opportunity to get a bribe, or do some extortion.

I see this as a badly played game of poker, the question being who will fold.

 

There is no real nazi problem in Ukraine. That's mostly just being used as an excuse by Russia. (If there is an issue with nazis in Ukraine it is a very small one)

The government of Ukraine is very corrupt, but besides from that it is very much like Western Europe and the EU. A few nazis might hold a very small number of seats in Parliament but it is not enough to have any influence.

(In case anyone is not aware, in some of these Eastern European countries bordering Russia, nazis are not seen as completely evil because they helped fight for their nation's independence from Russia)

 

Uh...yeah...zerohedge....another possible Russki rag of a front....just like Southfront.

 

No bones about it. It's been called out:

https://www.bloomberg.com/news/arti...ncial-website-of-spreading-russian-propaganda

 

Have you sought a second opinion from the illustrious Salty Cracker yet?

 

Aside from the Nazi statues, Nazi marches, Nazi holiday and Nazi celebrations...and the millions that identify with the Nazi movement, you have a point.

But you're dead wrong about influence. I've posted a video from one of the Nazi parliament members speaking on this topic and he certainly disagrees with you assessment.

 

There are no Nazi statues. Every country has Nazi marches, sadly. There are no Nazi holidays or celebrations. Millions do not in any way identify with the Nazi movement.

All you're doing is parroting Putler's lies.

 

Provide some info here....Bill....on Nazi statues,holidays, etc.

Cause I'm seeing jack $hit here dude....face it you're butthurt that this whole fiasco turned to $hit...and Mafialand is headed for the $hitter....and Dwarfstanian chimp is headed for his Ceaucescu moment.

 

Please provide locations of such statues.

The U.S. also has nazi gatherings. They are protected by free speech laws.

What Nazi holidays and celebrations?

 

Russia doesn't need to buy gold from foreign reserves, they have the gold mines or haven't you heard? They also have diamond mines, copper mines, etc., etc. In other words they have 78 trillion dollars worth in assets to back their currency even without gold. So what do we have, 30 trillion in debt - and its all fiat money without anything to back it.

One has to wonder where the collective West's brains are because everything they do works to Russia's benefit. First they rob $300 thousand from the Russian reserves, telling the world not to put their money in dollars, because if you don't obey, it might be stolen.

Then they kick Russia off Swift when Russia has been preparing for such a situation since 2014. Now Russia will sell its products such as fertilizer, grain, oil etc. only to friendly nations, and will take payments only in local currencies. This will lessen the usage of the American dollar and further weaken it.

The other stupidity is the support of Nazi land in Ukraine, and emphasizing that they are like us. This in turn has alienated Africa, the Middle East, India, Pakistan, South and Central America - and just about everyone in the world.

Stupidity at its utmost. But that's what hubris does, and why it always precedes a fall.

 

That sounds like projection to me. Putin thought he could push us around, and now he's paying the price.

 

Hopefully a Ghaddafi moment, broomstick and all.

 

Before that happens....he'll soak Mafialand in blood.

 

And possibly beyond.

 

What price? Every injustice we commit towards Russia, backfires on us. If the American and EU farmers want fertilizers, well they're going to have to pay in rubles and I'm sure at a hefty price. If the Europeans want bread and macaroni, well they're going to have to pay in rubles and again at a hefty price. Even now bread is scarce in some EU countries.

Wake up to reality, we have over a trillion dollars worth of debt, and if the dollar dies we die. It's not though as if Washington wasn't warned. Every time we imposed sanctions on Russia, they retaliated by lessening their usage of the dollar. Now Biden and the idiots decided to completely destroy us.

That's reserved for Micky Mouse and the Nazis of Naziland and well deserved.


Hey Mickey Mouse,
what a louse you are
for keeping the war going on.

So what was the gain
in causing such pain
when you're losing Ukraine
anyway? - Jeannette

 

The world got along just fine without Russia back in the 50's. They are due for a revolution. The get in a killing rage, and they can't stop themselves.

BTW, how in the world do you imagine a world economy worth somewhere north of 90 trillion US dollars is going to function on gold/gold promises, etc. There is no way for this to function. Due to leverage, you do not need a billion dollars to build a billion dollar building. So now you want a bank to wheel a billion into the bank to get a construction loan in "Gold backed something or others"... We are shaking nuts of trees and taking them to the town square to build anymore.

 

Russia needs to be broken up.....it's obvious it can't function the way it is.....

 

As long as it breaks up internally....so much the better. No one will shed a tear.

 

Oh they've realised. They're just working very very hard to make sure the people don't know. They want us to keep spending and spending, after all.

 

I would say the same for America...