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Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Ms Sans Serif
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[quote:Saddletramp:MV8yNTgwNjcwXzQ0OTU3MzgyX0REOEM5MEI0] [quote:InTheHood:MV8yNTgwNjcwXzQ0OTU3MDE3XzdFNjI2MTJC] [quote:Drunk Uncle:MV8yNTgwNjcwXzQ0OTU1ODYzXzkyNTRBQUM2] [quote:Saddletramp:MV8yNTgwNjcwXzQ0OTU1ODA1XzJENkRBODc1] If the dollar is not the reserve currency, then it is dead... How much you paying for Groceries and Gas right now?!?!? No inflation...gimmi a fuckin' break. [/quote] 10 to 15% annually and anyone with a brain can see that. Food and Energy removed from the equation??? Gimme a fucking break... They should use the stock market as a barometer for inflation since that's where all the dollars are flowing. What rate would that be over the last few years? [/quote] The 10-15% ties in w/my calcs. from 2000 forward on groceries, gas, personal products, close on electric/gas (that's all I used). I agree about the SM. Yeah it went up, so say you put $10k into it in 2000 for comparison, and cashed out now. After you pay your taxes, fees, etc. now what can you buy with that $25k or whatever (not doing precise calcs, going off top of head). If any financial guru's on board, it would be cool to see the actual calcs. on this, any takers? Anyway, probably, my guess, after cashing out right now, you probably can't purchase anymore with your "gains" than you could have back in 2000 with your original $10k. Might as well had it sitting liquid in the CU and avoided the fees/charges/taxes to the brokers/government. If you had a a lot invested, probably would have made out better paying off your mortgage and losing the interest. And, income wise, I don't know a whole lot of people that have been getting healthy raises or that have kept up w/the inflation other than those that received big promotions, and/or have their own unique business that is doing well in this environment. Even those in tech./healthcare, etc. aren't keeping up. The costs of everything relative to income is becoming extreme and getting worse, and don't even get me on my soapbox on the ACA boondoggle/fiasco; one of the last nails to go into the coffin, and I'm sure our infamous leaders have a few more to pound in before it's all over. [/quote] http://www.shadowstats.com/alternate_data/inflation-charts If you use the 1980 method of calculating Consumer Inflation we're running just over 10% right now... [/quote]
A little over a month ago, when Russia announced the much anticipated "Holy Grail" energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar's stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. In doing so they admitted that while both nations are eager to move away from a US Dollar reserve currency, neither is yet able to provide an alternative. This changed rather dramatically overnight when in a little noticed statement, Gazprom's CFO Andrey Kruglov uttered the magic words (via Bloomberg):
GAZPROM READY TO SETTLE CHINA CONTRACTS IN YUAN OR RUBLES: CFO
In other words just as the US may or may not be preparing to export crude - a step which would weaken the dollar's reserve status as traditional US oil trading partners will need to find other import customers who pay in non-USD currencies - the world's two other superpowers are preparing to respond. And once the bilateral trade in Rubles or Renminbi is established, the rest of the energy world will piggyback...
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