Posted on 03/31/2022 11:32:48 AM PDT by Navy Patriot
“So Tass claims this thread is the latest Russian position.”
Ah, TASS! Now THERE is a reliable source for anything about Russia! Too funny.
“MSM Propagandizes and Tass offers no explanations or details.”
Yet, you cited TASS as a source!
The West has frozen 300 Billion of Euro and Dollar reserves belonging to Russia.
This would be a technical bank default - except the money's right there. It's theft by a Sovereign.
This is what I'm referring to when I refer to Force Majeure on the energy contracts.
“The West has frozen 300 Billion of Euro and Dollar reserves belonging to Russia.”
Ah, I guess I misread your original post. I thought you were talking about Russian ENERGY reserves, not BANK reserves.
So, if, say, Germany deposited $300 billion in euro and USDs in an escrow account, pending receipt of a product (gas, oil; whatever), and that product WAS received by Germany, and Germany took possession of it, and the escrow account has been frozen; then, while not theft, it is arguably Force Majeure (as a condition arose that precluded the completion of the purchase). Now, if Germany froze the escrow account after having taken delivery of the goods, then Russia has a valid reason to scream “FOUL!”
I should have put a dollar or Euro sign in, to make it clearer what I meant by ‘300 Billion’.
“I should have put a dollar or Euro sign in, to make it clearer what I meant by ‘300 Billion’.”
Actually, I had responded to wiseprince’s post #58, where he had just mentioned reserves (and I assumed — mistakenly — that he was talking about physical reserves; perhaps because that was what was on my mind what with all the talk of our SPR). Thus, when I was talking about physical reserves, you were talking about monetary reserves. So, our foundations were crossed, and that is where the confusion arose.
I identified Tass, I did not cite it, and I did not offer information that I did not have access to, or that Tass did not provide.
Tass is much more credible than you.
You posted the original thread, Sparky, with the TASS article, as you clearly felt it benefitted Russia. You are an outed pro-Russian advocate, and you only post or comment to benefit Russia. You cited the TASS article; you didn’t cite another source that had a different take on the matter.
You’re floundering, Sparky. Give it up.
Germany gives Euros to the Bank of Russia to buy Rubles, then uses those Rubles at Gazprombank to buy Oil.
Or
Option 2:
Germany gives Euros to GazpromBank, GazpromBank buys Rubles from the Bank of Russia with those Euros, and gives Germany the Oil.
Or
Option 3:
Germany gives Rubles to GazpromBank, GazpromBank gives Germany the Oil.
In all cases:
Note that Option 3 assumes that the Germans have already brought Rubles with Euros and have stored them.
Right now I guess the Germans do not store Rubles. But if Rubles become a rising store of value then this may change. This is the situation that Putin seeks to achieve.
“Tass is much more credible than you.”
Damn, I never knew I was a news agency, or a newspaper. Maybe I should start charging, or soliciting advertisements.
Pound Sand Shill
Pound Sand Shill
An objective analysis of the meaning of the news release.
Only time will tell.
The one thing I am sure of is this will have significant effect on the worldwide commodity market.
It seems to me that Pooty Poot’s new rule is that Germany has to set up an account at the Gazprom bank. German can send Euros into this account to pay for Rooskie natural gas. This bank then converts the Euros into Pooty’s Rooskie Roubles, and everyone is happy.
What am I missing? Is the Gazprom bank’s Euros to>>> Roubles conversion done at rip-off rates?
It appears from the objective analysis of the thinkers on this thread that this is the case.
What am I missing? Is the Gazprom bank’s Euros to>>> Roubles conversion done at rip-off rates?
That appears to be the remaining question, Ruble exchange rates change by the minute, so only completed exchanges will reveal profit or loss.
I only posted the fact that Putin and Russia have initiated this payment requirement by originating this thread.
Most of the further observations are made by others.
Thanks for posting this article. My guess is that Germany is getting charged .5%-1% by the Gazprom bank for this currency conversion. Whereas two months ago, Germany just sent Euros, so was not scraped by any Gazprom bank “surcharge”. When you are dealing in billions of Euros being paid out, this surcharge amounts to a huge amount of money. Germany resents these new Pooty Poot payment terms as a rip-off. Especially because Rooskies and Germany signed a contract that payment was to be in Euros. Then it was up to Russia/Gazprom, what to do with the Euros.
Now this currency conversion burden is shifted onto Germany and other European nations, to submit to losing more or less 1% via Bad Vlad’s new currency conversion rules. That were phoned in from Pooty Poot’s Führerbunker/ nuclear fallout shelter, carved out of the Ural Mountains.
An objective analysis, I suspect you are right.
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