Russian President Vladimir Putin has once again declared “the petrodollar must die,” leaving no doubt he is on a mission to reduce the importance of the U.S. dollar as a measure of international oil trade.
“We should act carefully,” Reuters quoted Putin as saying. “At the moment we are trying to agree with some countries to trade in national currencies.”
At the same time, economics blog ZeroHedge.com is reporting Russia’s Gazprom has a lock-hold on Europe at least until 2016, the earliest date commercial shale gas production in Europe will be of sufficient quantity to make an impact on the continent’s energy market.
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Exactly what our PINO has wanted all along - All actions (and inactions) since his arrival to the WH support this conclusion. Even though he is a puppet, he is a willing puppet.
ReplyDeleteUh oh! This is NOT a good thing (which is why it WILL happen). What the average sheeple does not realize, that when the petrodollar dies, the price of everything will noticibly much more expensive, as will then have to convert our currency into the new world reserve currency.
ReplyDeleteIt will be a charlie foxtrot our own well deserved making, given how we, via the president have lied, not honored our own promises, treaties, and agrements with outher nations. We promised to keep our dollar tied to a gold standard ($35 = 1 ounce of gold), NOT print fiat currency (print money out of thin air), Not to abandon the gold standard. The only reason why those fancy green pieces of paper have any value at all, is due to the agreed upon fiction that it does have value.
The blog ZeroHege.com ought to be ones daily reading list.
The only reason why those fancy green pieces of paper have any value at all, is due to the agreed upon fiction that it does have value.
DeleteThe blog ZeroHege.com ought to be ones daily reading list.
Precisely and an excellent site.
When that happens look out. The world is currently using dollars to trade only because the devil you know is better than the devil you don’t. As more and more countries try, other forms of exchange the dollar will slowly then with increasing speed be eliminated as the world currency. As things currently stand, I am not sure that any currency will become “the” currency of trade. I think most will trade on a deal by deal basis using different currencies. The day America’s dollar is not accepted as gold things are going to get very bad vary fast.
ReplyDeleteAmerica makes nothing anymore we import everything. The day Wal-Mart call its supplier in China and they are told they will not accept dollars as payment. Suddenly the Fed’s one hundred year policy of devaluing the dollar will come home. Stores will quit pricing items on the shelves since the price will go up from the time you put the item in your cart and the time it took you to walk to checkout. Prices will inflate so fast there is not enough physical cash to handle the economy. When things are this bad NO ONE will accept anything but cash. How will you carry seventeen million dollars of cash to the store for the week’s groceries? As I said, there simply is not enough physical cash for a cash society and the government will not be able to print it fast enough.
Badger
Yes and trading will come into vogue. 90% silver coins, bullets and food, etcetera.
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