Posted on 03/08/2023 9:45:19 AM PST by Navy Patriot
U.S.-led international sanctions on Russia have begun to erode the dollar's decades-old dominance of international oil trade as most deals with India - Russia's top outlet for seaborne crude - have been settled in other currencies.
...
India's oil trade, in response to the turmoil of sanctions and the Ukraine war, provides the strongest evidence so far of a shift into other currencies that could prove lasting.
The country is the world's number three importer of oil and Russia became its leading supplier after Europe shunned Moscow's supplies following its invasion of Ukraine begun in February last year.
(Excerpt) Read more at reuters.com ...
The Law of Unintended Consequences occurs when an impulsive, emotional decision is made that unintentionally creates more problems than it solves.
Gonna be MONSTAH money to be made in FOREX and other Arbitrage schemes.
One Currency settlement made one market-
Multiple currencies gonna let loose the hounds of war
After 50+ years of overwhelming evidence, nothing the vile, evil liberal scum enact and support results in “unintended consequences”; it is all intentional.
More Winning!!!
or something like that
Obama said it was unfair for America to have the advantage of being the global currency. He encouraged the “basket of currencies” approach. Fortunately, the American economy is so big and the investments here are so much safer than those of other countries that Obama failed. As for trying non-war means of stopping Russia from winning in Ukraine, it was as good an effort as any. Will it have unforeseen consequences? Everything a government does. But, we don’t have Americans coming home in body bags.
So much for sanctions against Russia, only the Western countries will honor them. Over time the value of the dollar and Euro will shrink as international trade is conducted more and more in alternative currencies.
Gee do any Indians own Super Yachts?
More and more it seems like this whole Ukraine thing isn’t going the way the “genuises” in the Biden Administration planned.
That!
Agree, the US is investing in Destabilization.
Nope, we abandoned them to Savages in Afghanistan and Vietnam so that we could invest in Fiat Currency Bribery Schemes.
Yep.
It does seem to be going the way Karl Marx planned, though.
even WW2 was caused by rebellion against the USD/british lb monetary system
Ukraine is a prime example, refuse to pay and call it "sanctions" instead when they try to collect,(or protest getting robbed), or just demonize them with MSM propaganda as an evil dictator. kill them and take it
even WW2 was caused by rebellion against the USD/british lb monetary system
Ukraine is a prime example, refuse to pay and call it "sanctions" instead when they try to collect,(or protest getting robbed), or just demonize them with MSM propaganda as an evil dictator. kill them and take it
How much aid did India get last year. 15- 20 billion?
Cut it off. You can’t buy friends, but you can punish enemies.
Economics ping to the stupid.
Tell India they are an enemy and then be surprised at the consequences of the sudden difficulties in projecting power in the Indian Ocean and Central Western Pacific.
Just more evidence Obama was an idiot, and a puppet of the deep-state, who was allowed his grift, or to stir up trouble over Treyvon, but who had no say over key long-term policies
Imagine if some other currency was the world's reserve currency? Or if the US only had a gold-backed currency?
The entire woke, progressive, neocon, globalist project would collapse immediately.
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