Russia Is Doing It – Russia Is Actually Abandoning The Dollar

Russia Is Doing It – Russia Is Actually Abandoning The Dollar

By Michael Snyder, on June 10th, 2014

The Russians are actually making a move against the petrodollar. It appears that they are quite serious about their de-dollarization strategy. The largest natural gas producer on the planet, Gazprom, has signed agreements with some of their biggest customers to switch payments for natural gas from U.S. dollars to euros. And Gazprom would have never done this without the full approval of the Russian government, because the Russian government holds a majority stake in Gazprom. There hasn't been a word about this from the big mainstream news networks in the United States, but this is huge. When you are talking about Gazprom, you are talking about a company that is absolutely massive. It is one of the largest companies in the entire world and it makes up 8 percent of Russian GDP all by itself. It holds 18 percent of the natural gas reserves of the entire planet, and it is also a very large oil producer. So for Gazprom to make a move like this is extremely significant.

http://theeconomiccollapseblog.com/...g-it-russia-is-actually-abandoning-the-dollar

 

Russia, China, Brazil, India, Japan, and some of the oil rich Middle East nations have in the past 5 years or so made agreements to trade oil in their own currency. It won't be long before the US petro-dollar no longer exists, resulting in the US$ not being the world reserve currency.

There won't be any coverage in the US media. The emperor has no clothes, but admitting it will cause a collapse.

 

Mark my words.....Russia will be defunct within a year, and the process will be bad for a very many.

 

Defuncting Russia now.. OK. Pretty recently, Russia formed the EuroAsian Union, with charter members being Russia, Belarus and Kazakhstan. This will defunct no-one! It's a brilliant stroke, introducing a new power to counter the EU, US, China. I expect that this EuroAsian Union will gain members over time, and trade with them will certainly NOT be done in Fiat dollars. This should go a good long way in derailing the NWO plans, and make life in the world a bit more interesting.

 

Just heard today that Russian economic growth is near zero.

 

Do not use hearsay news, go to serious sources.

 

Like Russian State news? LOL

IMF sees 2014 GDP +0.2 pct vs government forecast +0.5 pct

 

Look at this post in this forum: http://www.politicalforum.com/latest-us-world-news/363142-rally-kiev-lets-wage-war-6.html

RT and AL Jazeera are most reliable sources for news, much better then CNN, ABC, NBS, CBS and MSNBC, those are a bunch of channels with the same voice of their owners.

 

Yeah but they don't have any debt either. Anyway Putin should be worried, very worried. Look at what happened to Saddam and Ghadafy when they tried to dump the petrodollar?

Anyway according to Craig Roberts the BRIC nations better get their act together, and dump the dollar as quickly as possible, because it's the only thing that will destroy the U.S. military complex and keep us from a world war.

 

Tis is all correct, but add here the fact that Russia has nukes, which makes a big difference from Iraq and Libya. This is what our crazy political leader dropped out of consideration. We can expect development of multiple polarization in the world and this would be better for our economy to become based on manufacturing.

 

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Consider them marked

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For that you need investment and Putin isn't helping on that ground by spooking investors. Right now Russia's economy is basically based on being a gas station.

 

Well, even so, this gas station is well protected from robbers like those encroached in Ukraine.

 

Ukraine is the least of Russia's worries now, it's growth is zero, it's on the brink of a recession, a tiny bit of additional sanctions will push Russia over the brink...a new round of serious sanctions will push Russia into a major long-term depression....


Russia is totally at the mercy of the US and the West so it better behave...My bet is it will, now that they've stolen Crimea and got hundreds of people in Ukraine killed, they must be satisfied, at least for a time being.

 

I have been saying this for weeks now. American government law FACTA goes into effect tomorrow. Kinda convenient for the pigs in Washington that Russia just happened to officially drop the dollar today. I am not confused though, it's been coming for some time now. Good thing I put my debt notes in physical gold and silver...better buy more before the dollar collapses for good.

 

You live in a fantasy world. Watch for Russian sanctions. We are isolating ourselves economically and politically. Ukraine will be reunited with Russia. This is because people, living in Ukraine want this. Poroshenko and his government are foreigners in Ukraine. Military operations and occupational regime will backfire.

 

Gas stations don't have the power of sanctions, gas stations serve their customers and compete for their business.

And yes, Russia can indeed ban Obama and Merkel from vacationing in Crimea.

 

"Gas Station" status works pretty good for the ME. Let us not forget that Russia has 27% share in the world weapons market as well. Interesting reading here:
http://en.wikipedia.org/wiki/Defense_industry_of_Russia
And yes, Mr. Putin certainly CAN boycott Western nations. I read recently that Canadian firms are in an uproar because they can't get the Russian rocket engines they need to go ahead with 2 satellite projects.
This whole boycott/sanction deal reminds me of a story I read about a Polish drinking contest. These guys were very drunk, and trying hard to prove to one another who was the most manly by cutting themselves with chain saws. That lasted until the bravest of them all cut his own head off. Yea- that'll show 'em. And wuts' the difference?

 

Last year we reported that China was progressively abandoning the US Dollar, the global reserve currency for international trade, in favour of bilateral deals to make and reveive payments for it's international trades in the national currency of the vendor nation.

Now we learn the Chinese have moved to the next stage of their long term plan to replace the U S Dollar with a new global currency. Over the years of their rise to the premier league of economic powers the Chinese government accunulated a vast reservoir of dollar reserves, amouting to $3.5 trillion according to reliable sources.

In the same week as it was reported that Russia had declared it illegal to trade in US dollars, the Chinese government has begun offloading its dollar reserves. And with that amount of US currency sloshing about in the financial markets things must lok bleak for the US economy at a time when domestic problems are giving American businmesses and citizens too many monster headaches.

 

Quite true. All of our 'lamestream' media outlets are heavily monitored, and don't report anything 'too risky' . It's not like the old days when they actually reported on (and followed up on) pertinent news events. Too busy advertising for drug sponsors and insurance sellers.

 

Ya just got to love capitalism don't you?

 

I must admit, I had heard that Russia and other countries wanted away from the dollar but, I didn't realize some were already doing it. There's that 'no-news' media factor, again I guess.

 

Do you think the US is working on this covertly? I for one consider it a strong possibility in light of the threat that Russia appears to represent for the US's current national regime. Putin's Russia stands up to the USA, doesn't acquiesce, doesn't play the same central bank game that the US and its satellites are playing. Russia is also gaining influence now and putting together strategic alliances around the world that are increasingly isolating the USA and shedding a light on this country's naked shame.

So yes, the CIA and their ilk may well be working overtime to subvert Putin's government right now. There are just no guarantees that they will be successful at it, however. I wouldn't be too quick to dismiss Russia in a game of global chess.

 

The US needs to be very careful with what it's doing. The Chinese are taking notes and could decide to dump all their dollar holdings and crash the dollar.

Sure, that would mean a hard landing for everyone, but at some point it becomes the logical thing to do. The Chinese will NOT be a partner in its own demise.

IMO, the game the US is playing is one of desperation and others see it as just that. That's exactly when a bluff gets called.

 

China has an extreme vested interest in making certain and helping to keep the U.S. Economy strong and viable.

China's economy is dependent upon sales of Chinese goods exported to the U.S.

As well the Chinese Communist Party in their attempt to gain leverage to influence U.S. Foreign policy by buying up American Debt did the exact opposite to what they wanted.

The United States without firing a shot...could completely collapse the entire Chinese Economy within a week by simply either refusing to purchase or allow Chinese Exports from entering the U.S.....or by stopping all payments upon Loans.

Either one of these acts never mind both is capable of collapsing the Chinese Economy as China broke the number #1 Rule of Lending....NEVER lend money to anyone that you cannot force to pay that money back.

AboveAlpha