Putin Says The Petrodollar Must Die, ‘The Dollar Monopoly In Energy Trade Is Damaging Russia’s Economy’

Putin chess

Putin Says The Petrodollar Must Die, “The Dollar Monopoly In Energy Trade Is Damaging Russia’s Economy” (ZeroHedge, Aug 14, 2014):

On one hand, despite initial weakness following Europe’s triple-dip red alert, futures declined only to surge higher after some headline or another out of Russia was again spun to suggest imminent Ukraine de-escalation (something which Russia whose only interest is to keep crude prices high, has absolutely zero interest in), perpetuating a rumor which was set off by a Russian media outlet tweet last week that has sent S&P futures over 50 higher in less than a week on… nothing.

On the other, Putin just said the following, which no matter how one spins it, shows precisely how Russia is inclined vis-a-vis future (un-de-counter) escalations.


Reuters adds:

President Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia’s economy.

“We should act carefully. At the moment we are trying to agree with some countries to trade in national currencies,” Putin said during a visit to the Crimea region, which Moscow annexed from Ukraine earlier this year.

Countries such as China, India, Iran, Brazil, and virtually every other non-insolvent, that is to say “developed, Western” country.

And now, bring on the Russian “isolation” (which is about to push Europe, not Russia, into a triple-dip recession) and further de-escalation.

Putin Gun

Vladimir Putin


6 thoughts on “Putin Says The Petrodollar Must Die, ‘The Dollar Monopoly In Energy Trade Is Damaging Russia’s Economy’

  1. He already has half the world…..what more does he want? His basket of currencies is the model of the 21st century.

    The real war is economic, and the US is losing. Does he want to destroy us? What benefit is that to anyone?

  2. Putin, up until now, has gone after the dollar in an elegant and intelligent way…….slowly but surely bringing emerging and strong economies into his basket of currencies. He doesn’t need to go after the dollar, to do so takes away from his incredibly intelligent moves to date. He would be wise not to go after the dollar, or give the US any excuse to attack him on a military level. To do so, will hasten the end of the world. Thanks to Fukushima, the end is in sight.

  3. When I was there I was not allowed to bring rubles out. Of course, no western bank would exchange them The US is printing and QE till forever. The dollar buys 2/3 of what it did last year. Americans cannot afford McDonalds at $!0 per happy grab your chest meal, and aspartame soda smacking the adrenals. Crash coming: 60 minutes, Obesity coming NOW!
    The only way out of debt for the US is to debase. Of course, gold will do well. Once the fix is out.

  4. To DD: I think they might allow you to take rubles out now…..I don’t know when you were there. Electronic currencies have made the need for a world reserve currency obsolete……..but, Russia and China both want to be the Big Dog. China has lied so much about their true debt level, economists have guess it to be in excess of their true GDP 5-12X depending on who you ask.

    As for the dollar, should the EU dump it, it will collapse.
    The EU is fighting too much among it’s own members to make any world shaking decisions, so the chaos will continue for a while.

    No matter how far the US debases the dollar, it cannot get out of debt……….thank the stock market, and all the side bets allowed……….it cannot be fixed. I have watched the power of the dollar slide, and the propaganda more loud every year. They have added several propaganda channels recently, I guess they felt they didn’t have enough.
    Propaganda cannot make an economy no matter how hard they try……..it is only one piece of a dictatorship. The US has relied on it far too much.

  5. Whatever form this engineered crash takes is moot.

    Vlad’s involvement wasn’t even dreamt of after the 2007/8 crash.

    Bankster’s determination to hide their corruption by creating a new World War has dragged Vlad into the ring.

    Russia is a very independent and proud nation of long suffering people.

    It has, for the last three years been openly threatened by the Bankster’s Military Division- The USA.

    The petrodollar was created to hide US insolvency towards end of debilitating VietNam War. The Bankster’s take a cut on every Petrodollar transaction. Why should anyone feel ok about that?

    It was a Get Out to hide Diminished Gold Reserves used to fund the war, the results of which were not forecast.

    After GHW Bush engineered the collapse of the Soviet Union, Russia was destroyed & was forced to abandon everything it had stood for in one hundred years.

    They lost their pride, courtesy of The New World Order. Now they have a chance to get it back.

    It makes complete sense to me.

  6. To Squodgy: As a long time Russian history nut, I agree.
    Russia has lost nothing it cannot regain.
    If you go to usdebtclock.org, and click on “World” it will show you the debt to GDP of every country. Ignore China, their lies are so obvious as to be laughable….but look at Russia, and then the US….99% debt to GDP, and most of the EU nations.
    Russia is rising again. They have the bleakest history on the planet, and their people are very proud, and will endure a lot to win.
    If the bankers want to take on Russia, the bankers will lose. Putin is the sort of man one sees every century or so……very rare, and very smart. If anyone can help the Russians get their power back, their pride re-established, it is Vladimir Putin.
    The bankers have been fat too long, and the US, too. Both have lost their edge, where Russia is sharp as a razor.

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