I thought Putin said he was going to quit using the Dollar for oil, along with a group called BRIC.
" Never before have I seen so many pieces of information to be put together in the span of just one week. This past week we were bombarded with connectable dot after connectable dot, nearly each and every one of them on their own would have caused a panic 30 years ago. I say "30 years ago" because this was before the 1987 crash, this was before anything and everything, nailed down or not ...was levered many times over in what eventually became an inflation orgy. 30 years ago, black was not white, wrong was not right and "debt" was still in its infancy of being money. Fast forward to present day and we now have a monetary system with one foot on a banana peel and the other in a grave!"
When the dollar faces a similar fate we will all be scrambling to get our hands on gold and silver.
kind of funny since they were hoping to tank our dollar with the tighter arrangements between china and themselves, and then the whole gold ruble was going to be released, blah blah blah...
This is the sort of thing that (predictably) leads to war.
Everyone in the world, not just Russians wants to get their hands on the reserve currency.
Unfortunately for the Russians, the ruble will soon be cheaper than toilet paper and Americans should buy rubles and wipe away.
Its not only the Russians scrambling to get hard currency but so are the Iranians, Saudis, Venezuelans and just about every other oil producer. They are all dependent on selling their oil to obtain the food, technological goods and services they need to survive. Otherwise they begin to wither and suffer political dissolution. Actually Russia is more stable as a culture and country than most. It underscores that there will never be another oil embargo. Oil will find its way to the shores of any country with the hard currency to pay for it.
Mmmmmmmm Was it not just a few months ago the Ruskis with the Chinese were trying to hoodwink the Brazilians into selling their resources through some “anti-Dollar” trade currency?
Goldbug ping.
The price is right for buying.
The USD has not even completed half its rise. Watch for the Euro breakdown below 1.22 in January, on its move down to parity
I'll send 'em some dollars!
Are we not told nearly on a daily basis that the worlds economies are linked due to globalization? what makes us think we can destroy the Russian economy and currency without that act spreading uncontrollably ?
Somewhat amusing the reporters last name translates as “Hungry”...
They can’t have mine.
All those gold commercials we see on TV, those companies need to be directing their efforts to Russia. They’ll make a fortune (in rubles of course...)