Posted on 03/23/2022 1:41:25 PM PDT by hardspunned
Putin: unfriendly states will pay Russia in rubles for natural gas. Putin ordered the Russian Central Bank to develop a system for payments in rubles within a week. The list of “hostile” states includes the United States, all EU member states, Switzerland, Canada, Norway, South Korea, Japan, and many others...
(Excerpt) Read more at oilprice.com ...
There is absolutely no reason to believe Demented Joe’s economic warfare will have any blowback on American citizens.
He should have made it GOLD, then see what happens
Make it silver or gold. Fiat currency is about to end.
Putin is as addicted to printing money as Bernanke.
He’s got a pretty big stockpile of gold. He’s been building on it for several years.
Yup. The Ruble is toilet paper currency.
I'm sure he would agree to buy gold and pay in rubles... which then can be used to buy gas.
Also, it appears that Roscosmos will also only take rubles from hostiles.
My local WalMart won’t take my rubles. I had to use dollars.
Reaction from OMV (Austria): we will continue to pay euros.
Reaction from Bulgaria (just in): we have no problem switching to rubles, details to be worked out.
(Source: https://tass.ru/ekonomika/14163571?utm_source=yxnews&utm_medium=desktop)
one would think contracted sales would specify payment currency and any unilateral change thereto would abrogate the contract ... i suppose spot purchases would be a different story ...
To get the Rubles to buy his oil/gas you may have to part with your gold.
‘’one would think contracted sales would specify payment currency and any unilateral change thereto would abrogate the contract’’
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The idea Europe can void every contract with Russia and then expect Russia to honor theirs is rather odd….We are in new territory as my trip to the supermarket followed by gas station just showed me…
Now they won’t gave a big pile of dollars and euros anymore. This stunt will blow up in their faces down the road when they trade other than oil with countries that dont want to be paid with their 3rd world bleephole currency. The yuan is pegged to the dollar.
‘’To get the Rubles to buy his oil/gas you may have to part with your gold.’’
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Folks like Tom Luongo and many others have said just this and it being done with the other gold hoarder China. The Middle East would love them bars. I believe it is dawning on Europe/America how hasty their actions were and politically the consumer will get his vote
can somebody tell me and where these rubles come from?
Not even close. Russia has a 19% debt to GDP ratio. Ours is 130% not including Social Security.
I guess OMV gets no gas.
Not too dumb a move by Putin to force Germany and the EU, who buy significant amounts of Russian gas, to support the ruble by requiring them to buy the gas in rubles.
Not even close. Russia has a 19% debt to GDP ratio. Ours is 130% not including Social Security.
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Because one can print more money if one has the most used currency.
Russia is at war. During war, people print more money.
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