Behind the headline is a qualifier that most will miss. “We will urge the companies affected not to follow Putin’s demand.” The problem for the G7 political leaders is that most of the transactions are between private companies. The heads of the U.S, France, Germany, Italy, Japan, Canada and the U.K, can stake a position, but the ultimate decision around the transaction in the hands of the private company buyers.
Russia can set the terms. Whether the G7 political leaders shout ‘breach of contract‘ is seemingly a moot point. In the big picture, the politicians have already breached the terms of prior trade agreements with sanctions. Russia can turn off the supply or demand payment in rubles as terms of sale.
BERLIN (AP) — The Group of Seven major economies agreed Monday to reject Moscow’s demand to pay for Russian natural gas exports in rubles.
German energy minister Robert Habeck told reporters that “all G-7 ministers agreed completely that this (would be) a one-sided and clear breach of the existing contracts” for natural gas, which is used to heat homes, generate electricity and power industry.
The energy ministers of France, Germany, Italy, Japan, the United States, the United Kingdom and Canada, as well as the European Union energy commissioner, met by videoconference and reaffirmed that contracts “must be respected,” with most stipulating payments be in euros or dollars, a G-7 statement said.
“Payment in ruble is not acceptable, and we will urge the companies affected not to follow (Russian President Vladimir) Putin’s demand,” Habeck said. (read more)
It seems odd the G7, who triggered the sanctions to hit Russia with financial damage and block SWIFT currency exchanges, would want to force Russia to accept euros or dollars for purchase. After all, they didn’t want Russia to have euros and dollars.
Unless, of course, those G7 ministers realize that by not using euros and dollars to trade energy supplies, the value of those currencies will necessarily diminish.
One could look at this demand by the G7 as a larger realization of what might happen downstream if they lose the petro-dollar as a control mechanism.
Are they starting to realize the unintended consequences they and NATO have created?
India and China just made big chess moves by: (1) India agreeing to purchase in rupees/rubles exchange; and (2) Beijing saying they will not adhere to the western sanctions.
It’s shaping up to be G7 -vs- BRICS…
Keep watching.
China will buy the difference.
Europe is screwed.
I doubt Euro Oil is gonna abide their strongly worded wish.
Still, they are indeed dorked.
Europe just suicided.
Death by Dollar
Putin has neutered the EU and NATO, and they are just finding that fact out.
IMHO — we’re all screwed by these globalists!
Am surprised that Putin hasn’t told the West to F off and redirect his entire flow of petroleum products, uranium, fertilizer and grain shipments to China.
China would probably gladly buy 100% of Russian output across the board. And pay a premium to do so.
To be honest, I almost want this to happen. Just because the West deserves to be kicked in the face.
Self inflicted. All of this.
So are we.
All of us have unknowingly paid a very considerable price for the fact that the US$ has so far been a compulsory part of many futures trades – especially oil – because of an obsolete agreement made fifty years ago by Henry Kissinger.
Going forward, futures traders are going to find a competitive choice of currencies, of bourses, and of exchange systems from which they can freely choose to best benefit themselves and their clients. Of course, “real-time optimization software” will very quickly appear, since trades take place in a matter of milliseconds.
And when it does, the cost of everything will go down.
Right now, futures traders are forced to “hedge” – basically, to buy insurance – against what the United States, in particular, might do next with regards to its currency. We pay the premiums in every single thing that we buy, every gallon in the tank, every airline ticket, everything that we ship by any means.
There has always been a very real price to be paid for the fact that the US “borrows from itself” to create currency-units out of thin air … but the USA did this quite freely because it never felt the pain that it was causing. Well, at long last, it is about to.
It has always been perfectly sensible for a country to require that its trades have final-settlement in its own currency, as a practical way to protect its own citizens from the currency abuses of others. The USA has often required that its trades finalize in US$, for example. But “what’s good for the goose isn’t good for the gander?” Howcum?! (Of course we know the answer.)
No, “the United States Dollar will not ‘melt down,'” but the United States Government will have to think – as it is right now finally being forced to think – about what it does, and about what are the consequences of what it does.
unfortunately, the fools in charge do anything but think
^^^^^THIS^^^^^
Mike: Excellent points, but, there is precious little ability within the current US Government to think. We need to replace the entire lot of America’s present elected and appointed “leadership.”
Most of the troubles we have can be directly traced to multinational corporations, globalists, and NGO’s. It’s a hot war now but before long it will be a war of information and attrition.
Way overdue.
The Nixon/Kissinger/Rockefeller coalition did massive damage to our great land but that was the idea.
Nixon killed the US when he erased the sovereign gold standard…
“United States Government will have to think – as it is right now finally being forced to think – about what it does, and about what are the consequences of what it does”
Too late.
When you’ve got the BIG CON going, it ENDS when you let the cat out of the bag.
Biden did.
The USA OFF-SHORED industry and production of myriad critically-essential needs.
The USA ACCUMULATED massive Trade Deficits to Exporting Countries.
We PAID them in $$$ that we perpetually multiplied with Deficit Spending,
… funded by the Fed’s endless purchases of Treasury Debt
… at Zero-and-Negative Real Interest Rates.
The Exporting Countries had no use for our $$$
… other than buying those perpetually-Devaluing Treasuries.
Biden ENDED their need to accept $$$
… and to reinvest them in SOON-WORTHLESS $$$ Treasuries.
The USA must consequently now buy now-APPRECIATING FOREIGN Currency
… with endlessly DEVALUED $$$ to fund our Imports.
Those Exported $$$ DISPLACE $$$ to Invest in America to
He’s DESTROYED our Monetary System and now our Economic Future.
BlackKnightRides: Good summary!
The US dollar will melt down and then collapse due to the debt, but at least we have some time before we go full Zimbabwe
After the euro…not before.
I would agree with your excellent comment, mike.
Seems to me, even more basic the lack of ANY “fiscal discipline” of the U.S. Gov. especially over the last 10-15 years, was because they could.
The $ as Worlds reserve currency, and the petrodollar is what gave Congress carte blanche to spend “like drunken sailors” and leave the Social Security system teetering on bankruprcy (because it made a good “wedge issue” at election time) rather than fixing it, as well as all the massive spending bills, no budget etc.
Its as if the World gave Congress an open ended credit card, and the ability to raise its own limit, and now the World is finally saying “enough” and canceling the card.
Some key, underlieing principles for the U.S. will remain, or CAN be restored.
We are the only country that can produce everything we need.
We HAVE abundant energy, even though we aren’t using it.
Institute a strong AmericaFirst agenda, for both foreign and domestic policy, bring manufacturing back, restore middle class, use tariffs to get US free AND FAIR trade,..and the US will still have the advantage of higher per capita disposable income, therefore be “the marketplace of the World”.
I am not sure that even “losing” reserve or petrodollar status, would put the U.S. beyond the point of no return.
Dutchman: America’s productive capacity is the key to American revival. The productivity of the U.S. economy is the flip side of our national debt. As long as we have ability to produce more than we owe, the U.S. Dollar will still outshine other currencies. However, to produce more than we owe, we must bring manufacturing back to the U.S. We must also be energy independent.
In other words … drum roll please … AMERICA FIRST.
Or, more generally: [MY_COUNTRY] FIRST.
Because: if you don’t put your own country first in everything that you do, no one else on earth has the slightest incentive to do so. Duh.
“Your own country” is the only place on earth that you have absolute control over.
Mike Robinson,
You seem to be a currency connoisseur. Help me understand something, please
I was learning about the 4 week bills dropping below the RRP rate of 30 bps to 18 bps on March 28, 2020. I think and could be wrong that this is due to a need for secure collateral for daily settlements. It is worth paying more rather than going the RRP route each day and being caught short.
Each of those bills are nothing more than US Debt. We have approximately 30 trillion dollars of debt to satisfy the worlds needs to conduct global exchange.
What happens to our domestic inflation as those bills are needed less by the global users and they become more prevalent domestically as countries continue choosing other forms of currency for commerce?
Thanks for your insights.
JoeS
https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates&field_tdr_date_value_month=202203
The short answer is that you will be caught on damned near the wrong side of everything. Countries who managed their finances better than you did will bypass you completely, and save a lot of money doing so. The magic money printing press will grind to a halt. Eighty years too late.
Many of those ships waiting off the California coast will leave without unloading, their cargoes having been re-sold somewhere else.
Maybe if we threw out the present imposters and brought back the BUSINESSMAN who always did know what to do.
You may get that event soon .
I believe we may be seeing the evolution of the removal of the President.
My question is will it just after midterm so KH can try and revive her chances in 2024.
Thank you for the post.
You can only do that if you are Big Man On Campus, economically speaking. But the USA is now Fat Albert.
Are they starting to realize the unintended consequences they and NATO have created?
Will they ever ask Uncle Sugar to back off the suicide pact?
This gets far worse.
We have a YUGE and IRREVERSIBLE (under Biden) trade deficit with BRICS.
• We lack alternative sources
• We lack domestic industry
Wait for BRICS to demand that WE pay in THEIR CURRENCIES.
Then BRICS demands that THEY pay in THEIR CURRENCIES
… or they won’t buy from from the USA
… and they won’t sell to the USA.
Then foreigners DUMP $$$ Treasuries.
Americans are HOLDING the BAG for Price Inflation on Goods & Services, Deflating $$$ Assets and Skyrocketing Interest Rates on our Skyrocketing Debt.
DEATH SPIRAL.
Beijing Biden just united the Economic World that’s GROWING against the USA.
We’ll pay the piper for decades.
Unless Trump … if we figure out how and it’s not too late.
Deus ex Orange.
It’s the only way.
😉
Trump does not have to President for that to happen. Let him be an economic advisor, trade negotiator with full backing of duly elected president and same goes. His former wolverines in play again would work too. We just need honest elections.
The problem is so much bigger than one man. Trump can only do so much. There needs to be a complete purging of the institutions. Without that, we are likely in a death spiral.
Yes…their little drawing board plans aren’t going the way that was expected. Especially when other countries won’t play ball. Fancy that!
Betsy…
I don’t think the kiddies in DC expected that!!
They just thought the World would just bow down to Biden and EU and their sanctions,policies and demands.
This has been a long time a-coming.
Which was my point exactly!
Indeed, appreciate the cascade failure sequence alert.
Murder Suicide.
With an added topping of gratuitous Civilizational Genocide.
And Europe is pretty much dead, killed by negative interest rates and Covid thuggery…I don’t even want them on our side, they always want handouts…,.
Europe’s not ALLIES
… They’re LEECHES.
Like leaches.
So Germany is starting to get a little nervous about not having the same fossil fuels they want to get rid of? Got it.
Yup, Germany has realised they screwed themselves over when they jumped onto the Russia Sanctions wagon. They should have told Biden to shove off and connected the gas line with Russia. Now they are out of cheap gas, and have to rely on unreliable sources to fill their needs. Russia – I don’t think – will ever allow that gas line to be opened now. They have seen who their friends are. And as if to really rub salt into the wounds, Russia is making them pay in rubles. And if they refuse, Russia has grounds to switch off the gas to Europe and supply Asia instead. Clever clever Putin. He is only playing the hand the stupid NATO/EU countries have dealt him and so far he’s winning.
Think how devoted…some would say fanatical..the Germans are about “climate change”.
They’re all in…shutting down coal and nuclear. For what? Solar in the winter? Wind when it doesn’t blow? They, like every other idealogue mother earth worshipping nation, are so unhinged. I believe it has finally occurred to them, though they won’t admit it, without oil and gas, they’re finished…done for. I can’t imagine how the German people will turn on their debauched and deluded government when Putin says he’s done being dictated to. His terms…not the EU’s, or anyone else’s for that matter.
He holds the whip hand here. Russia is not without ready markets for what they produce. And these countries, be they our competitors or our enemies, are ready to accept his terms. The Germans and their fellow EU nations really have not thought this one out.
Preening and virtue signaling will not keep their industries going nor homes functioning. Hope they have a Plan B…C, D, E…
Putin’s taken Chyna’s playbook for the WIN-WIN-WIN
• ChYna funds Russia’s Pipeline-and-LNG infrastructure to receive Russian Energy
• India funds Russia’s Pipeline-and-LNG infrastructure to receive Russian Energy
• Europe funds Russia’s Pipeline-and-LNG infrastructure to receive Russian Energy
Putin: What are my BIDS … in RUBLES … or RUBLE-DEBT?
Bonus: That Ruble-Debt DISPLACES $$$ Reserves.
Biden’s disastrous energy policies are reversed and Israel supplies Europe’s energy needs with an Eastern Mediterranean gas line.
How many shekels will they bid?
https://www.cfact.org/2022/03/10/building-the-eastmed-pipeline-would-help-free-europe-from-russian-energy/
As I’ve said before elsewhere, just because Biden tries to destroy our economy doesn’t mean other countries must destroy theirs…and they won’t. They are now in the driver’s seat. And we look like the Jokers, courtesy of people who have never run anything more than their mouths.
Germany, France and EU and the rest of the Greenies……
Maybe they should call crazy Greta kid and ask for her advice on how to provide energy needs for their countries—-now!
Guess that is what happens when you listen to children and ignorant 🙄 people.
Old Chineses curse: “May you live in interesting times.”
We most definitely live in interesting times.
Yes – I found this headline interesting:
Russia Sold Its Stake in Uranium One Shortly Before Invading Ukraine – The Same Company Clintons Helped Turn Over to Russians
For the longest time I was hoping PresTrump would nationalize the Uranium One property as a “Strategic Mineral Resource of the United States” and leave Russia holding an empty bag:
“Please inquire with the Clinton Foundation about a refund on your transaction”
But – alas – that never happened
Instead we get the empty hag.
and, the empty bag she dropped for us to pick up.
November 2021.
que ?
When Russiya sold it’s stake in Uranium One.
thx Maquis
so – yes – shortly before invading Ukraine
They sold to an American country. This is the board of directors
https://www.uraniumenergy.com/about/meet-the-team/officers-and-directors/
On the Back channels Ivan’s ministry says they’ll cut the EU off if they don’t pay.
Guess who will blink here…
The dollar also lost big time today against the Ruble…
So you want to buy something and the guy who has it says pay me in Rubles. You can either find an alternative or pay in Rubles. Or do without.
As for alternatives, the Middle East oil nations are not fond of the West and very pissed off at the constant color revolution meddling and Marxist moralizing. They may sell but they sure won’t be in a mood for discount pricing.
The US and Canada are strangling American sourced oil and gas. Venezuela will need a couple years to repair its Marxist wrecked oil and gas industry and are actually under partial Russian control.
Time to crank up that “better narrative” machine another notch or two.
If [anyone] is selling [oil] to [anyone_else], then there is zero reason for that trade to involve US$ unless the buyer or the seller are located in the United States … or unless both buyer and seller freely desire for it to be so. And there never has been. Nor should there be.
Henry Kissinger isn’t dead yet – so WikiPedia tells me – but his agreement certainly should be.
“The Law of Unintended Consequences” Don’t say you weren’t warned, G-7.
Arrogant bastards have it coming!
“ One could look at this demand by the G7 as a larger realization of what might happen downstream if they lose the petro-dollar as a control mechanism. Are they starting to realize the unintended consequences they and NATO have created?”
I’d say yes, but not convinced every one involved could be so stupid.
“,..but not convinced every one involved could bes stupid.”
I am. I know the site concensus is all of the consequences of the Brandonites actions are intentional, but I remain unconvinced.
For example, if they intended to bait Putin into invading Ukraine, why didn’t they shut down the bioweopons labs?
Why didn’t they resolve how they were going to (or not) get Polish migs to Zalenski, instead of having Poland (very publically) rebuke them?
I don’t think these people are AT ALL “smart”; they are mediocre people, who have been shielded their whole lives from experiencing the negative consequences of their actions, hence no learning from their mistakes, and no contact with REALITY.
They have a totally overblown belief in their own intelligence, and as part of that they consistently underestimate the intelligence of any adversary, whether it be Putin, PDJT or US.
They exist in a perpetual information bubble, and a great deal of their effort is expended on making sure they reflect the groupthink on any/every issue, lest they be shunned for wrong think.
They have bitten off WAY more than they can chew, let alone swallow.
Gonna enjoy watching them CHOKE on Ukraine, even though it is going to cause US pain, as well.
Well, Dutch, that seems to happen to people who obtain an education at Harvard, Yale, and other Ivy schools.
Being from Ohio, I used to believe, “Man, you need to be smart to go to an Ivy school.” And most others growing up in the rustbelt during the 80’s probably believed that.
Now, I understand there are intelligent people who attend Ivy schools- they come from China, Korea, and sometimes Africa (believe it or not). While the Americans accepted are sons and daughters of elites who either attended to themselves or bought their kids the fancy paper to hang on the wall.
After living in New England for over a decade, I’ve met many Ivy’s….a whole lot live within 5 miles of my house. They never fail to let everyone know where they went to school…year one in NE, I was impressed. Then I spoke to some of them…..now, I know they are some of the biggest morons who are where they are because of mommy and daddy: mommy/daddy was Ivy’s, granny/grandpa was Ivys’, and in most cases, great granny/grandpa were Ivy’s. Great Granny and Gandpap set up shop- made lots and lots of money, then they bought the way for granny and grandpap- which they used great granny and grandpap’s family money to build- rinse and repeat over and over…
Heck, I know one couple who literally lives off of mom and dad (and this couple is in their 50s- both graduates from Yale). They live in a big house, flaunt their Yaleness- super-rich…the husband has a really high-paying job at her dad’s firm….which was his dad’s firm, which was his grandpa’s….I’ve heard it a million times. When asked what he does for the firm- he just says helps his dad manage accounts. But, interestingly- he’s never working, only at the club or hanging at his big house.- he brags about never working too (or not working much).
Printing money on the “full faith and credit” just might be ending. Yes indeed, interesting times.
Couldn’t happen to a bigger bunch of stupid, arrogance scum bags. The real revelation for these cement heads, comes when the US will need to negotiate with Russia, to enter into a nuclear agreement to stand against China. Otherwise, China will attempt to take over a large portion of Eastern Russia. This agreement will never happen if the current deep state is allowed to continue in power in DC.
Wind & Solar are both supposed to be the ANSWER !
EUROPE SCREWED ONCE AGAIN
It will be 2030 until they can produce energy for themselves
Yet that plan itself is a pipe-dream.
They will NEVER be able to produce enough electricity from wind and solar to power their economy. It’s impossible.
“Wind & Solar are both supposed to be the ANSWER !”
Perhaps, but they’ll never be able to fill in certain sectors
Air travel and transport, for example
You can’t fit enough solar panels on the wings to get a plane in the air; and batteries are too heavy, defeating their use
Wind power might hold promise, though
With wind generators on airplanes, one principle to keep in mind is that the faster the plane goes, the more energy would be generated
No, wait …
In time, it would be entirely possible to use electricity from solid sources such as nuclear, fission or fusion, and extract carbon from CO2 and combine it with hydrogen pulled from H2O to produce fuels as energy dense and easily stored and transported as so called fossil fuels.
Though such a plan would require patience, wisdom, hard ass work, and a commitment to the future of humanity rather than to the Satanic Conquest dreams of the day, not to mention actually
followingdeveloping and taming the science.Though I think your wind generators on aircraft would be hugely effective if the planes were filled with globalists and given a head start off a very high cliff.
Never could understand why small nuclear power stations weren’t considered. As much power as needed, safe, no carbon footprint etc. Oh wait, that’s not the solution they want. These arrogant ideologues would rather destroy everything than give up their destructive policy ideas.
You can’t leech from Nuclear Plant revenues to pay for its Zero Carbon Omissions
… unless …
“…the faster the plane goes, the more energy would be generated.”
The Wile E Coyote perpetual motion machine.
Why not? We have a bunch of Wile E Coyotes in charge!
The G7 leaders need to dance to another tune. Here is a Finnish band called Steve’n’Seagulls playing AC/DC’s Thunderstruck.
Looks to me like the G7 is blowing smoke. They are perpetuating this staged photo op for consumption by the gullible masses.
They know very well the private businesses will pay in Rupees or whatever else Putin decides.
At this point I think Putin is going to call their bluff and continue on his way and flip off the corrupt cabal while counting his stacks of rupees.
India’s currency is rupees; Russia’s currency is rubles.
The G7 is definitely blowing smoke
… up one other’s butts.
Obama perfected the technique
… and they fell in love with it.
WARNING: Erase that from memory.
Its Ruples, not rupees, but otherwise I agree with your accessment.
Bannon says they (countries buying Russian oil) will pay for oil by purchasing Russian bonds?
Rubles are hard to come by.
Bannon knows finance. I don’t.
“ Bannon says they (countries buying Russian oil) will pay for oil by purchasing Russian bonds?”
Which would allow Russia to default on yet more bond payments. Does Bannon read the news?
I think Bannon reads more than just the news. His financial creds are well known, what’s yours?
Russia gets buyer to purchase overpriced Russian bonds?
Baccalaureate in Economics with Highest Honors.
What’s yours?
Bannon has an MBA from Harvard and made his fortune as investment banker at Goldman Sachs.
I’ll go with Bannon on this one.
That is a reasonable argument but you failed to provide your own credentials.
Let’s pick apart potential scenarios below.
(Just spitballing)
“Countries buying Russian oil will pay for oil by purchasing Russian bonds?”
🤔 So Russia sells them 30-year Ruble Bonds
• Setting LOW Ruble Bond Yields
• And/or LOW Euro-to-Ruble Conversion Rates
• Or CALL me when your People are cold and your Industry’s frozen.
If the EU undermines the Ruble,
• Russian Bond Yields RISE
• Russian Ruble-Debt Prices FALL
• Forcing EU Ruble-Bond holders to LOSE-on-SALE or HOLD-for-DEPRECIATION.
… Triggering the EU to act to STABILIZE the RUBLE?
… Then APPRECIATE the RUBLE?
I like the way you spitballed it and understand the scenario, .but how it gets played out is over my pay grade.
DITTO.
The wildcard is the price of oil vs bond yield curve.
World Projection for oil prices is favorable to Sellers.
https://longforecast.com/oil-price-today-forecast-2017-2018-2019-2020-2021-brent-wti
slight recast –
World Projection for Oil Prices is favorable to PRODUCERS
The world economy is measured in oil production.
It measures, manages, mitigates, ingredients, makes, is a part of, drives, fuels, heats, produces, carries, loads, distills, used for, used by, sells to, sells for, etc. etc., etc.,: …………pretty much everything.
Except maybe Vegan Organic Farm Raised Free Range Naturally Fed No Input
Chickens!, err, Worms!Eat them wokester biyotches.
I misspoke for the third time (!?) in this thread. Russia agreed to honor payments on its bond obligations…IN DOLLARS:
“Russia’s Finance Ministry claimed earlier Thursday it had fulfilled crucial interest payments on two dollar-denominated eurobonds, saying the order had been made to payment agent Citibank in London.
“The ministry said it would later comment separately on whether the $117 million in total payments has been credited. Citibank declined to comment when contacted by CNBC on Thursday morning.”
So you see, Russia needs dollars more that Europe needs rubles.
Hand them each a noose. Oh wait, they made and brought their own.
The New Silk Noose.
It depends which court will adjudicate this should the EU take what they perceive as a contract breach to court.
With whose army for enforcement?
OTOH, Europe’s got a fantastic track record for invading Russia.
Indeed.
As far as I know, ’twas always pure adventurism, not for existential reasons in the least.
Is there any example where it was a good and needful thing to attack them?
Ha ha ha hahahahahahahaaa.
Yeah William, Love you Baby.
Like Putin is going to take this to Court?
You crack me up. I am just going to assume your comment is s/
I would love for someone to create the map with the parts in yellow changed to gray where the supporters of the “red team” are. The DC elites, CA and NY would probably be the only yellow portions of the map. Speaking as part of “the rust belt” of America, our portions are definitely gray.
No Green New Deal for us, thank you! I suspect that Australia and Canada are not as “yellow” as this map portrays, either.
Joyce: Absolutely agree. The only yellow points on the map would be the capital cities and media centers of the the G7 countries. We’re locked in cars with crazed lunatic drivers, all of whom are playing chicken with our lives, our savings and our purchasing power.
Vlad needs to turn off the tap
I get the feeling this ain’t the New World Order they were hoping for!
Elmer Fudd following Mr. McGoo.
With Wile E. Coyote writing the instructions. (Hat tip Christian Warren up thread.)
The arrogance of these people is astonishing. It’s surreal. Who does all this hurt? People like me.
For U.S., Europe is the canary in the coal mine. Once all h*ll breaks there we will only be weeks away from market collapse. Buckle up Buttercup
That European Canary-in-the-Coal Mine will become a summertime JET ENGINE
… when African & Mideast STARVATION
… triggers COLOR REVOLUTIONS (having earned their CIA-Trainee Wings)
… triggering the MASS MIGRATION of the AGES
… into Europe!
Magnificent American Greatest American President Trump was right (again) when he warned Europe
to not depend on Russia for their natural gas and oil.
“n the hands of the [for now] private company buyers.”
They kinda painted themselves into the corner, if they don’t pay they don’t get the gas or oil. The Russians will find someone to buy it probably at a discount and then the new buyers can sell it for a good profit on the global market.
“The Russians will find someone to buy it probably at a discount and then the new buyers can sell it…”
…to Germany, Italy, France, Japan, etc.
Putin gets less for his product and the G7 buys it through a middleman.
Good plan, Pootie!
More than likely at a premium – in a mutually agreed upon currency – to either India or China where it will be graciously consumed to power their own economic engines… It’s a win-win-win for the BRICS, and a clear signal to the WEF to shove it where the sun never shines…
Michael Yon posted a map today that showed only the yellow countries.
https://michaelyon.locals.com/upost/1914398/big-question-russia-cut-oil-gas-to-europe
Remember, these are all the same countries who participated in the Russia-Russia-Rissuia Hoax against Candidate/R Nominee/President Elect/President TRUMP, and therefore against the people of the United States.
They all also participated in the MASSIVE election thefts.
Thanks for posting.
Didn’t realize he had website!
Golly, what will Russia do with their oil?
Though Klaus has WEF demons in place, it appears at least half the planet (BRICS) has other plans and in truth if the fraud is mitigated in the West it would be most of the planet. When you scrape away the facade (MSM), these demons are outnumbered 100,000 to 1. Think pitchforks and torches and Frankenstein’s Monster it would be how I’d imagine a Biden rally.
The lunacy will come to a screeching halt when we Just Say No!
When you look at the G7 photo, who strikes you as a strong leader, someone you would not want to tangle with? Abe is about the only one.
Update: Abe has been replaced!
… Reputation intact.
The main thing that has sustained the US Petro Dollar over the past several decades is the threat of overwhelming military force. Those days are obviously over, so it is only natural the rest of the world is going to seek financial alternatives that serve their own national interests versus those of our greedy & corrupt elites.
All things come to an end folks, history proves it.
How will this effect all the US Dollars that have been hoarded in foreign countries?
Well, if they just dump them into the economy- we will be holding the bag on this too.
They will get spent on something other than Russian oil.
Overwhelming force of transgender “soldiers” and ppl who will die of a heart attack the first sign of adrenaline rush due to forced xlot shot. ? That overwhelming force?
With Trump in the White House, America had a good friend in Modi.
And Bolsonaro.
IF…Donald Trump were still President (and he is) he would have an energy contract that would be agreeable in 3 minutes. I mean the guy’s incredible. In fact, he’d sponge up Ukraine with a left over handy wipe, deconstruct the labs, have ‘Ukraine’ as central to northwest, leave the Black Sea, Crimea, Odessa and the southeast border to Russia. It serves no purpose for the Azov Battalion as Ukrainians hanging out in Donbas and then it also serves no purpose to our Western skuzzballs who like to see fire and flames as long as it far from their neighborhood. And then, if I were Donald Trump, I would suggest that Ukraine remain non Nato-neutral territory, which it will be because by the time Russia are through with them no one is going anywhere near it. And Zelenzky will be gone. Probably hanging from a some coiled metallic Shrapnel or being interviewed by Sean Penn in a secret, dark cave in Tasmania. That guy knows how to pick them.
So do you suppose that most French, Germany, Italian, Japanese, British or Canadian business operators have a pile of rubles in their cash office safe?
No? Why not?
Russia has very little for sale beyond its raw materials like petroleum products and their derivatives, so why own their currency?
Do you imagine a first-tier economy like Germany will buy fighter/bomber aircraft from Russia when more advanced equipment is on offer from the US of A?
So the, to get rubles you must first purchase them with your own currency on the FX market.
Putin’s gambit is that by demanding rubles be bought with dollars, marks, pounds, lira and yen he can stabilize the the ruble and circumvent the stranglehold placed on his economy by the G7 bloc.
Why would anyone fall for such a transparent ruse?
Did you see that missle? That’s not nothing.
Only the poorest countries buy Russian armaments.
If you are offering up an ad baculum argument, a single Ohio-class submarine has enough firepower to level all of Moscow.
Our Ohio Class boats were disarmed years ago.
Try to keep up kid.
Thanks for the update!
That was short-sighted of us. We put all our chips on a yet-to-be developed Columbia Class submarine.
I caught you in a lie.
Naughty boy!
How do you suppose the USS Wyoming Ohio class submarine launched this Trident ABM if it was disarmed years ago?
https://www.stratcom.mil/Media/News/News-Article-View/Article/2781494/uss-wyoming-successfully-tests-trident-ii-d5le-missiles/
Twenty Ohio class submarines retained the capability to deliver SLBMs. Each boat has twenty tubes.
Four of the original subs were retrofitted for guided missiles so as to better protect a carrier group and support an amphibious landing.
https://www.history.navy.mil/browse-by-topic/wars-conflicts-and-operations/cold-war/strategic-deterrence/Ohio-class.html
Looks like a pretty solid Rus to me.
Russes are solid because they are amply fortified with vodka.
Not why but who. And, if you were paying attention to FJB in Europe over the last week, well, then, you darn well know that man will fall for anything. Especially an 11-year girl in a spring dress with barrettes and pigtails.
I should have qualified my remark: Other that Slow Joe, who would fall for such a transparent ruse?
🤣 🤣 🤣
Chrissy baby, you provocateur
I think you misunderstand the ask. On purpose.
Russia does not care whether the West buys rubles or not. To buy their oil. Because China and India and all the other BRICS will. Plus Vietnam.
Russia has been planning this for over ten years. Biden can not even count ten pudding cups.
This is just Putin telling the West he holds all the cards. The West can either stop shipping arms to Ukraine and generally stop f8888ng with Russia, or starve and freeze and drive electric cars (they have no electricity for).
The US telling Russia “we will not buy your gas/oil” is the same as saying, “EU, you are f***ed and on your own”. We do not need Russia or the EU. But lots of other people do.
So the “Biden” then decides the best next action in this scenario is to ship Ukraine modern weapons (infantry, handheld, shippable and sellable). These weapons will never make it to Donbass. Israeli arms dealers are lined up waist deep at the Polish/Ukraine border. Buy these “free” weapons from the US at a nominal sum and shipping them where?
Maybe you should work on “where” for your next comment.
NORMALLY, it is assumed countries will adhere to trade agreements, because otherwise the OTHER country has all sorts of remedies, so much so that a direct ‘breech of contract’ wouldn’t be a consideration.
But, the idiots have already DONE all of that; there is no remaining stick they have to use, to compel Russia to accept Euros.
The EU, apperently following U.S. lead, or perhaps WEF dictates, haven’t simply “doubled down on a bad hand”, they have deliberately stacked the deck, to give themselves a weak hand, and their opponents a superior hand.
Once again, I don’t see intent, I see idiocy.
Throughout its recent history Russia has had economic autarky as its go-to goal. This has left them isolated and economically backward.
Closing off your #1 export to your #1 buyer will kill off what little is left of your economy.
Food for thought as the US Attempts to replace Russia as EU fuel source:
At present, there are no U.S.-flagged LNG carriers, and American LNG exports go to market aboard foreign-flagged, foreign-crewed vessels.
Less than 10% of the current Global Petroleum Tanker and Bulk fleet are US flagged. Some of the US ships are still in or emerging from being mothballed.
So, how does the US get the fuel products from US Shores to the EU while still having ships for our own fuel and so few ships being under US control??
JoeBot canceled our aborning massive LNG export capacity and systems whilst Europe turned their nose up at constructing receiving and distribution capacity.
No matter how much they squall about it it’s less than vapor-ware, it can’t and won’t ever happen under the delusional leadership and societal stupidity of both sides of the pond.
Even if they tried, the New World Odor couldn’t pull it off while determined to make enemies of the rest of the world.
“ So, how does the US get the fuel products from US Shores to the EU while still having ships for our own fuel and so few ships being under US control??”
Build pipelines!! Oh, wait…
If Biden does not quickly correct his missteps on fossil fuel policy, a replacement will be found who will.
Demo☭rats?
By 2025?
His own party will push him out.
Soros?
RINOs?
Add further complications to that idea with the general hostility of some locals and environmentalists to building or upgrading anything pipeline or LNG terminal related between New York, Massachusetts, and Maine.
I remember something about a proposed project to build an LNG terminal on Sears Island in Maine. Did not make it past the planning and permitting stage.
there ain’t no good guys, but there sure as hell ain’t no good guys! think of the song…
Except, of course, it won’t be the leaders of those affected EU nations who’ll be the ones that end up cold, hot and walking!
And, all of the WEF minions cackled with glee while Huner Biden and papa diddle away.
Bet with your head, not with your heart, I’ll take BRICS, after taking a long look at that group of G’s who is driving their bus.
“I’ll take BRICS”
You will wind up looking like Reginald Denny.
Putin said start paying in rubles by 3-31 or the gas goes…”we are not a charity” haha…If Europe had enough gold, they could probably pay in that, but they don’t….
They are familiar with screwing the pooch but since Ghislaine’s arrest and Esptein’s demise they thought that game was put on the shelf.
Biden = Check
Russia = Checkmate
I was listening to “Eurodollar” University (episode 206 at 20:00) this weekend and Jeff Snyder spoke about this team west vs team “not west” looking for a replacement for treasury securities.
Jeff said that the “Eurodollar” (not to be mistaken as the Euro and the dollar) itself rose out of the desire to circumvent the sanctions and confiscations by the Soviet Union fearing just these type of events in the 1950’s.
Rupees and Rubles are just another form of the worldwide currency that is known as the “Eurodollar”. These “Eurodollars” can be a multitude of mediums of exchange. Shoot! They could even resort to RC Cola bottle caps as currency. (Hat tip Fallout)
The BRICs are doing what societies have done for as long as we have been on this rock. Commerce baby!
I suggest that we start building safe European type nuclear reactors.
Russia holds. All. The. Cards.
The G-& seven just lost the chess game because of their previous moves, and are just starting to realize that fact. And that is damn funny!
Its so hard to tell if people give a crap what’s going on in Ukraine or not. They barely see the obvious in our own country. And the news is just one Marvel comic after another. Just utter bullshit out of everyone’s mouths. Joker and Penguin in the background.
Mariupol has been very hard fought and has now fallen to the independent people’s republic that want to join into the Russian Federation. The independent people’s republic soldiers take down the Ukrainian flag of the provincial offices, and mount the Russian flag and play the moving Russian Federation national anthem.
Several civilian observers behind the gate are moved to tears.
Say what you want, but years ago when I watched the Olympics and the Russians won the gold medal, I thought their national anthem was the 2nd most beautiful anthem next to our own. The French, in my mind, ranks third.
Tweet translation from Spanish:
“The flag of Russia and flag of the People’s Republic of Donetsk is raised over the general HQs of the Nazi Azov Battalion.
For the very first time in Mariupol, the Russian national anthem is played”.
Sounds like these leftist WEF/NWO fart heads just stepped in a pile of shit of their own making !
Now watch India they will make you a deal when they buy all the Russian oil and gas and re-sell to all you climate change wussies shivering like a dog shitting razor blades !
Sorry, but why is the nut from France using a pose that females use in photos to give a slimming effect, i’ve never seen a man use this pose before.
I think the photographer asked Bo Jo to button his coat, suck in his gut and adopt a slimming pose but Macron mistakenly took the advice for himself.