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Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles

 
Saddletramp
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06/26/2014 09:50 AM

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Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
SNIP

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...


[link to www.zerohedge.com]
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp (OP)
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06/26/2014 09:53 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
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.
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp (OP)
We Don't Rent Pigs...

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06/26/2014 09:55 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Thank you for the pin...

hf
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
eddy

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06/26/2014 09:56 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
The comments at the end of the Zero Hedge article are quite interesting.
Drunk Uncle

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06/26/2014 09:57 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
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.
 Quoting: Saddletramp


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?
Lady Jane SmithModerator
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06/26/2014 09:57 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Thank you for the pin...

hf
 Quoting: Saddletramp


hf
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
Anonymous Coward
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06/26/2014 09:59 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Now it's Show Time.
Drunk Uncle

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06/26/2014 10:00 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Thank you for the pin...

hf
 Quoting: Saddletramp


hf
 Quoting: Lady Jane Smith


lol
Lady Jane SmithModerator
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06/26/2014 10:03 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Thank you for the pin...

hf
 Quoting: Saddletramp


hf
 Quoting: Lady Jane Smith


lol
 Quoting: Drunk Uncle


Glad to amuse you this cheery morning hf
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
Saddletramp (OP)
We Don't Rent Pigs...

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06/26/2014 10:05 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
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.
 Quoting: Saddletramp


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?
 Quoting: Drunk Uncle


That rate of inflation with negative wage growth, what a nightmare for the middle class.

And how much GDP has that annualized "real" inflation bought us?!?!? -2.9% for 1Q '14...that means the wheels are coming off of this motherfucker.

Last Edited by Saddletramp on 06/26/2014 10:07 AM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Vic-chick13

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06/26/2014 10:08 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Thank you for the pin...

hf
 Quoting: Saddletramp


hf
 Quoting: Lady Jane Smith


lol
 Quoting: Drunk Uncle


Glad to amuse you this cheery morning hf
 Quoting: Lady Jane Smith


hf Oh, Lady Jane you are bad. hf ;)
Saddletramp (OP)
We Don't Rent Pigs...

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06/26/2014 10:09 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
I'm predicting a negative 1.5% for 2Q '14 (after revisions of course). Consumer spending is still way way in the toilet.

If you don't believe that just look at Walmart's year over year revenues.

What happened to all of that tax refund spending spreed? It went to pay for gas, the mortgage, and groceries...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Drunk Uncle

User ID: 42840263
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06/26/2014 10:10 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Thank you for the pin...

hf
 Quoting: Saddletramp


hf
 Quoting: Lady Jane Smith


lol
 Quoting: Drunk Uncle


Glad to amuse you this cheery morning hf
 Quoting: Lady Jane Smith


hf Everything is funny when you start drinking at 7 a.m. (drunk uncles mom) and you can quote that if you'd like...
Saddletramp (OP)
We Don't Rent Pigs...

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United States
06/26/2014 10:10 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
...


hf
 Quoting: Lady Jane Smith


lol
 Quoting: Drunk Uncle


Glad to amuse you this cheery morning hf
 Quoting: Lady Jane Smith


hf Oh, Lady Jane you are bad. hf ;)
 Quoting: Vic-chick13


She is bad...bad ass!!!

yoda
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Drunk Uncle

User ID: 42840263
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06/26/2014 10:13 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
I'm predicting a negative 1.5% for 2Q '14 (after revisions of course). Consumer spending is still way way in the toilet.

If you don't believe that just look at Walmart's year over year revenues.

What happened to all of that tax refund spending spreed? It went to pay for gas, the mortgage, and groceries...
 Quoting: Saddletramp


I was almost thinking they packed all the negative shit they could into 1st quarter, therefore leaving room to manipulate Q2 with a just barely positive number and avoid the dreaded "recession"???
c4g3

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06/26/2014 10:13 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
I'm predicting a negative 1.5% for 2Q '14 (after revisions of course). Consumer spending is still way way in the toilet.

If you don't believe that just look at Walmart's year over year revenues.

What happened to all of that tax refund spending spreed? It went to pay for gas, the mortgage, and groceries...
 Quoting: Saddletramp


I'm now starting hear everyday people that I encounter talking about inflation. Same people who cant understand what is going on. The people are starting to see it, but just like the FED chasing inflation. Both will be too late to realize and position themselves correctly to deal with what is next.
Satire and dry humor...gotta keep it light in a hard world.

I stand with all people around the world who want to live thier life in peace and be free.
Drunk Uncle

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06/26/2014 10:14 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
...


lol
 Quoting: Drunk Uncle


Glad to amuse you this cheery morning hf
 Quoting: Lady Jane Smith


hf Oh, Lady Jane you are bad. hf ;)
 Quoting: Vic-chick13


She is bad...bad ass!!!

yoda
 Quoting: Saddletramp


Apparently she knows Karate, so that's pretty bad ass...
Anonymous Coward
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06/26/2014 10:16 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
This should come as no surprise.
Saddletramp (OP)
We Don't Rent Pigs...

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06/26/2014 10:18 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
I'm predicting a negative 1.5% for 2Q '14 (after revisions of course). Consumer spending is still way way in the toilet.

If you don't believe that just look at Walmart's year over year revenues.

What happened to all of that tax refund spending spreed? It went to pay for gas, the mortgage, and groceries...
 Quoting: Saddletramp


I was almost thinking they packed all the negative shit they could into 1st quarter, therefore leaving room to manipulate Q2 with a just barely positive number and avoid the dreaded "recession"???
 Quoting: Drunk Uncle


The bottom line is, we're an economy entirely dependent on Consumer Spending, and Consumer Spending for April and May has sucked balls...tax refunds are gone now, I can't see any reason why June (a traditionally mediocre month) would bail them out. so....

Last Edited by Saddletramp on 06/26/2014 10:19 AM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Lady Jane SmithModerator
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06/26/2014 10:24 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
...


hf
 Quoting: Lady Jane Smith


lol
 Quoting: Drunk Uncle


Glad to amuse you this cheery morning hf
 Quoting: Lady Jane Smith


hf Everything is funny when you start drinking at 7 a.m. (drunk uncles mom) and you can quote that if you'd like...
 Quoting: Drunk Uncle


chuckle
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
Drunk Uncle

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06/26/2014 10:27 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
I'm predicting a negative 1.5% for 2Q '14 (after revisions of course). Consumer spending is still way way in the toilet.

If you don't believe that just look at Walmart's year over year revenues.

What happened to all of that tax refund spending spreed? It went to pay for gas, the mortgage, and groceries...
 Quoting: Saddletramp


I was almost thinking they packed all the negative shit they could into 1st quarter, therefore leaving room to manipulate Q2 with a just barely positive number and avoid the dreaded "recession"???
 Quoting: Drunk Uncle


The bottom line is, we're an economy entirely dependent on Consumer Spending, and Consumer Spending for April and May has sucked balls...tax refunds are gone now, I can't see any reason why June (a traditionally mediocre month) would bail them out. so....
 Quoting: Saddletramp


I hear ya, everything is just so manipulated...I don't know what to trust as far as any kind of reporting out of this government.
Drunk Uncle

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06/26/2014 10:29 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Thread: Silvertards get ready to ride: Bloomberg is admitting that the silver paper PONZI market is at least 250 times larger than the actual PHYSICAL

Go to the 3:50 mark of this video and listen for a minute or so, lol. Makes my point perfectly.
BioReaper
Ghost of GLP Past

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06/26/2014 10:33 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
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.
 Quoting: Saddletramp


They will take us all to war to maintain the status quo. I keep telling people: You are worried about the economy crashing? You may not live to see it crash.
"I have beneath me, the knowledge of our genesis - Sphinx"
Anonymous Coward
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06/26/2014 10:41 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
It is about time! Fuck the FED and all of its supported tentacles including the usa corporation.
cookie lady

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06/26/2014 10:42 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
I'm predicting a negative 1.5% for 2Q '14 (after revisions of course). Consumer spending is still way way in the toilet.

If you don't believe that just look at Walmart's year over year revenues.

What happened to all of that tax refund spending spreed? It went to pay for gas, the mortgage, and groceries...
 Quoting: Saddletramp


If you watch earning reports for 2nd Q it is scary to see many consumer staples miss their estimates. General Mills missed by 5¢ / share yesterday.

I am in SE PA and in the past week I saw three stores that we going out of business, for real not a fake going out of business sale( everything must go ;) ;) . Two are small businesses, both are selling their store fixtures. The other is a KMart. The shopping center the Kmart is located in is up for auction. We already lost our Sears and from what I understand most of the small stores in our mall have closed.

Additionally in the past 6 months 2 local pizza restaurants have closed. And over the past year more and more local restaurants have cut hours and days of operation.It is almost impossible to find a sit-down restaurant open on Monday.

When I moved here in 2007 we had 3 diners open 24 hours. Now there is one. One closed and the other burned down and wasn't rebuilt.
Saddletramp (OP)
We Don't Rent Pigs...

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United States
06/26/2014 10:48 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
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.
 Quoting: Saddletramp


They will take us all to war to maintain the status quo. I keep telling people: You are worried about the economy crashing? You may not live to see it crash.
 Quoting: BioReaper


There may well be a war, but I don't think it will help...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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Italy
06/26/2014 10:51 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
does it looks just to me or.....China and Russia seem to have enough of US arrogance?
Scottish Indian

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06/26/2014 10:55 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
Speaking of Groceries, I just added up what my family of 4 has spent for the month of June so far-----$600.00+ and we still have 4 days and the weekend to go??????????????

As Paul Begley says, "WHAT!!!!!!!!!!!!!!!

Oh, and we have not had steak once..... and I have been harvesting fresh vegetables from my "Victory Garden". I have two boys aged 12 and 16.

Nah, there is no inflation, go back to sleep people everything is great.
Saddletramp (OP)
We Don't Rent Pigs...

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06/26/2014 11:05 AM

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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
does it looks just to me or.....China and Russia seem to have enough of US arrogance?
 Quoting: Anonymous Coward 59663158


True, but don't think they're not part of the same system, and don't think this is all by chance...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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06/26/2014 11:06 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
The US was used to enrich the banking cartel with their short sighted scam economy instead of having a real economy.

The Perfect Storm: Amnesty, Hyperinflation, Food Riots, Race Wars

The BRICS nations (Brazil, Russia, India, China, South Africa) have allied themselves with 80 other nations to take down the dollar as a reserve currency.

Catherine Austin Fitts said Wall Street stole $40 trillion from us and will continue to steal tens of trillions more.

One surge of Hyperinflation could eliminate all traces of $40 trillion in fraud that had been committed over decades.

[link to vidrebel.wordpress.com]
JustChillin

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06/26/2014 11:12 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan or Rubles
I'm predicting a negative 1.5% for 2Q '14 (after revisions of course). Consumer spending is still way way in the toilet.

If you don't believe that just look at Walmart's year over year revenues.

What happened to all of that tax refund spending spreed? It went to pay for gas, the mortgage, and groceries...
 Quoting: Saddletramp


I was almost thinking they packed all the negative shit they could into 1st quarter, therefore leaving room to manipulate Q2 with a just barely positive number and avoid the dreaded "recession"???
 Quoting: Drunk Uncle


The bottom line is, we're an economy entirely dependent on Consumer Spending, and Consumer Spending for April and May has sucked balls...tax refunds are gone now, I can't see any reason why June (a traditionally mediocre month) would bail them out. so....
 Quoting: Saddletramp


I hear ya, everything is just so manipulated...I don't know what to trust as far as any kind of reporting out of this government.
 Quoting: Drunk Uncle


I hear ya. When ever I see the DOW in the green, it always reminds me of that movie 'Weekend at Bernie's' They hold the dead body up making you think everything's Ok. Behind him you see people scrambling for Tangible Assets.
"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery."
-Winston Churchill.

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