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Has Russia Really Just Ditched The Petrodollar?

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When Saddam converted to a petroeuro – in essence, dumping the dollar, it didn't go too well for him...

The Petrodollar Wars: The Iraq Petrodollar Connection

Yes - because he didn't have nuclear weapons.

Sadly for the US, Russia not only has nuclear weapons, but also weapons that are more advanced and varied than anything the US can currently field.

Edited by Errol

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Yes - because he didn't have nuclear weapons.

Sadly for the US, Russia not only has nuclear weapons, but also weapons that are more advanced and varied than anything the US can currently field.

Yes, can`t really see them invading Russia somehow.

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Sadly for the US, Russia not only has nuclear weapons, but also weapons that are more advanced and varied than anything the US can currently field.

true,

US Too Dependent on Russian Rocket Engines, Experts Tell Lawmakers

Should the Russian government yank its supply of rocket engines for United States launches, critical national-security satelliteicon1.png missions could be delayed up to four years,

It'll be interesting how US/Soviet negotiations pan out...

"Negotiating with Obama is like playing chess with a pigeon. The pigeon knocks over all the pieces, shits on the board and then struts around like it won the game." - Vladimir Putin

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I don't really see why it is that important what currency individual deals are brokered in.

Dollar has always been the global go-to currency because everyone accepts it, it's considered relatively safe/stable and most of the things you might want to buy will probably be available in exchange for it.

That currencies like the Euro (or in this case the Yuan) are starting to eat away at the dollar hegemony is probably more noteworthy than things like this individual oil deal. What is perhaps more significant is that buy using each other's currencies they are expecting to reinvest in each other, which indicates a strengthening trading relationship.

I don't really see why it is that important what currency individual deals are brokered in.

Dollar has always been the global go-to currency because everyone accepts it, it's considered relatively safe/stable and most of the things you might want to buy will probably be available in exchange for it.

That currencies like the Euro (or in this case the Yuan) are starting to eat away at the dollar hegemony is probably more noteworthy than things like this individual oil deal. What is perhaps more significant is that by using each other's currencies they are expecting to reinvest in each other, which indicates a strengthening trading relationship.

Edited by libspero

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I don't really see why it is that important what currency individual deals are brokered in.

Dollar has always been the global go-to currency because everyone accepts it, it's considered relatively safe/stable and most of the things you might want to buy will probably be available in exchange for it.

It's about what America will loose if the dollar is dropped , I like the magic checkbook analogy Robert Newman uses with salvador dali (about 20 mins in) , its dated, but a good watch:

Edited by tyres

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