Russia takes only rubles for gas, links ruble to gold

Posted by bubah1mau 3 years, 1 month ago to Economics
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Is the petrodollar doomed? I didn't see anything about digital/crypto currencies in this article--only rubles and linkage of rubles to plain old gold. Now, when Europe buys gas (and possibly oil very soon) from Russia, it appears they will be propping up the price of gold

If other gas/oil producers follow Putin's lead, the days of COMEX paper manipulation of commodity markets will be doomed. Oil/gas consumers may be scurrying to buy physical gold and/or currencies other than dollars, to settle their international accounts.


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  • Posted by bsudell 3 years ago in reply to this comment.
    That seems to be our lesson in all of this. Never let them issue a license to you for anything - not restaurants - not hairdressers - not doctors - not dentists - not anyone! Take away all of their power.
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  • Posted by term2 3 years ago in reply to this comment.
    thats a good way to look at it actually. all they care about is that it works for THEM (those in power)
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  • Posted by bsudell 3 years ago in reply to this comment.
    No, they don't want something to work; only that which works for them. Communism is what works for them. They have the power; they have the money. That is all they care about.
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  • Posted by term2 3 years ago in reply to this comment.
    I wonder if the leftists actually want something that would WORK, I kind of doubt that. Their ideology is all they want- what happens in practice doesnt seem to be very important to them. socialism has never worked, but they argue that it WOULD have worked IF ONLY>>>
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  • Posted by freedomforall 3 years ago in reply to this comment.
    Definitely!
    A free market of competing currencies would allow much better decisions and efficient markets.
    But that wouldn't make the central banksters wealthy beyond the dream of avarice (and beyond imagination.)
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  • Posted by term2 3 years ago in reply to this comment.
    Maybe competitive currencies with backing and without governmental interference would be better. If one currency was inflated through printing, people would reject it as a store of value and use the others.

    Somehow I think that might work better than a government guaranteed federal reserve like we have now
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  • Posted by freedomforall 3 years ago in reply to this comment.
    Yes. The fed banksters have created this problem to enrich themselves with other corrupt businesses
    (and looting politicians) as accomplices, e.g., military suppliers, construction firms, labor unions,
    insurance companies, big pharma and 'health' services.
    Next the fed increases interest rates to enrich banks using the excuse of slowing inflation.
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  • Posted by term2 3 years ago in reply to this comment.
    so in the end, when the usd isnt the reserve currency, the demand for it will go down and the dollars will wind up back here and cause massive inflation in prices?
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  • Posted by term2 3 years, 1 month ago
    well, I would say that all the claims by USA are to be taken with a grain of salt. The USA invaded iraq based on supposed facts that werent even true, and we killed thousands of citizens in the process. So the USA propagandizing that russia is evil is a bit disingenuous.

    That said, I would say that Russia shouldnt invade another country that didnt invade it, no more than USA should have invaded iraq .
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  • Posted by Dobrien 3 years, 1 month ago in reply to this comment.
    Here is evidence to reinforce my statement.
    The officials say the Biden administration has been rapidly pushing out “intelligence” about Russia’s plans in Ukraine that is “low-confidence” or “based more on analysis than hard evidence”, or even just plain false, in order to fight an information war against Putin.

    The report says that toward this end the US government has deliberately circulated false or poorly evidenced claims about impending chemical weapons attacks, about Russian plans to orchestrate a false flag attack in the Donbass to justify an invasion, about Putin’s advisors misinforming him, and about Russia seeking arms supplies from China."
    Instead of Ad hominem response where is your evidence.
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    • term2 replied 3 years, 1 month ago
  • Posted by term2 3 years, 1 month ago in reply to this comment.
    What I meant was to starve the government, so the leftists have to pay for the stupidity that they promote. I dont care if THEY feed the poor. I just dont want to have to go to work and do it for them while they eat at the French Laundry.
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  • Posted by term2 3 years, 1 month ago in reply to this comment.
    Putin IS an evil bastard. Just stop ignoring what he is doing in ukraine with his indiscriminate bombing and killing
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  • Posted by term2 3 years, 1 month ago
    I liked the idea of being called deplorable. I even wore a t shirt with than it
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  • Posted by term2 3 years, 1 month ago in reply to this comment.
    We have to somehow starve the left. Each dollar we give them means more control they exert over us
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  • Posted by Dobrien 3 years, 1 month ago in reply to this comment.
    5000 rubles per gram. Europe can buy their gas with Gold which increases the value of Gold or buy Rubles with dollars or euros and that increases the value of the ruble. BRILLIANT.
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  • Posted by Aeronca 3 years, 1 month ago in reply to this comment.
    That statement she made, fascinates me. "You know, HALF of the Trump supporters are in what I like to call a BASKET of deplorables."

    She said Half because she hoped to divide the Right and get them saying "I'm not a deplorable, you are, I'm with Her!" Divide and conquer, didn't work.

    She said Basket because she was referring to the Bread Basket, rural Republican America.

    That pissed off a lot of people and motivated them to vote against her. Dumb move. Don't insult the people who you are trying to persuade to vote for you.
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    • term2 replied 3 years, 1 month ago

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