Posted on 03/13/2022 7:26:17 PM PDT by RomanSoldier19
India and sanctions-hit Russia are exploring the possibility of using China’s yuan as a reference currency to value the rupee-ruble trade mechanism, two Indian government officials aware of the development said.
The two countries may also look at a floating rate arrangement as India, the world’s third-largest oil importer, considers buying oil from Russia at a discounted rate to cool inflationary pressures.
To boost oil purchase from Russia, India is working to resolve key issues, including the availability of ships, insurance cover for imports and the oil blends, given the configuration of Indian refineries.
This assumes importance given the Western sanctions on Russia and PJSC Rosneft Oil Co. stating that Indian companies can acquire stakes i
(Excerpt) Read more at livemint.com ...
The Dunkin’ Donuts and Seven-Eleven brigades step up, I see.
Well done Uncle Sam. Drive an extremely important player in containing Chicoms into their arms. Imbecilic
Strange bedfellows. India and China are bitter enemies, yet India seeks to bail out China’s new best friend? Then again, Russia is India’s biggest arms supplier.
And scam callers from New Delhi.
this could mean they won
If the USD is no longer the World Reserve Currency then we are dead nation walking we are already getting parted out like a stolen car
they could turn the tables on us and start devaluing US like we have been doing to them ( cause of all wars since WW1)
Handing over the majority of our domestic tech jobs didn’t buy us any love.
Russia cuts off India, then India will fail to equip their army.
China artificially values their currency so probably not the best choice for valuation against any currency.
“Russia cuts off India, then India will fail to equip their army.”
No, the US will simply replace Russia as India’s main arms supplier.
In essence - they would be using a "peg to a peg" to the US Dollar.
These BRIC nations pretend they run some sort of economic show.
What are they going to do if other nations stop buying their garbage products and laughable IT skillsets?
Not always that simple. Afghan pilots were trained to use Russian helicopters. Then we switched to US helicopters. Afghans were not able to adapt. And this happened during a critical period as the Taliban was mounting an offensive in the country. In retrospect, it probably wouldn’t had made a difference. But the Afghan government may have lasted a little bit longer
“If the USD is no longer the World Reserve Currency then we are dead nation walking we are already getting parted out like a stolen car”
Calm down!! Russia and India have a combined GDP 1/10 of the US’s. This oil trade is like a spit in the ocean of world wide dollar transactions.
In gold we trust, but still verify.
I can count on one hand the number of skilled Indian IT professionals I have worked with in the last 2+ decades.
Most of them lie, cheat, and write garbage code.
Strong language, I know, but accurate. I have wasted a good chunk of my life interviewing Indians for IT positions where their resumes were completely made up. I won't get into how quite a number of them hire people to be off-camera during an interview and feed them answers.
Fun story - had an Indian lady getting fed answers during her interview. Only took me two questions to figure it out. So...I figured I would have fun with it, since it was otherwise wasting my time.
Began asking her questions that had nothing to do with IT.
What's the reserve currency in most of the world?
What year was the Bank of England founded?
Who uttered the famous quote: "Give me liberty, or give me death"?
Funny thing is, her off-screen cohorts looked up the answers to each question and got them correct.
I told the recruiter that if she EVER sent me another candidate like that then it would be the last day of our working together...
Russia supplies less than half of India’s combat aircraft (France and UK supply about the same as Russia), and the US is the main supplier of support aircraft. Russia is the largest supplier of firearms, but Israel also supplies a pretty good amount.
About 30 years ago I had just seen this indian movie where the big indian maharaja master type would be carried up on a big chair among the the workers, raising his hands in the air and clapping “clap, clap, work faster!”. So every day after seeing that movie I would walk through the group of Indian coders “clap, clap, code faster”.
The US fed.gov and the West have just demonstrated - for both their own citizens, as well as powerful nations - your bank accounts, your savings, your reserves - are ALL political tools
They can be confiscated upon political whim.
We are also facilitating the replacement of the US Dollar as
an international currency these nations use.
That will come back to bite us on the ass sooner than later.
That would definitely leave only one “tool” in the fed’s kit, war. Domestic energy production has never been more critical. It may well be the only thing to save the dollar.
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