FTBagain Report post Posted June 30, 2006 http://news.bbc.co.uk/1/hi/business/5129662.stm Interesting. Seems alot of countries have got it in for the Dollar at the moment. Quote Share this post Link to post Share on other sites
Justice Report post Posted June 30, 2006 You can bet russia will be selling gas in Euro's and help end the petrodollar scam america has with OPEC USD$ going down is a done deal unless IR's go up above 30% or something stupid Quote Share this post Link to post Share on other sites
FTBagain Report post Posted June 30, 2006 You can bet russia will be selling gas in Euro's and help end the petrodollar scam america has with OPEC USD$ going down is a done deal unless IR's go up above 30% or something stupid Actually, the artical suggests that they are going to insist on roubles to sell their oil and gas. Difference between the Euro and Rouble is that there are significant deposits of oil and gas in Russia and very little in the Eurozone, so why would Russia sell in Euros? Quote Share this post Link to post Share on other sites
?...! Report post Posted June 30, 2006 Difference between the Euro and Rouble is that there are significant deposits of oil and gas in Russia and very little in the Eurozone, so why would Russia sell in Euros? Quote Share this post Link to post Share on other sites
Realistbear Report post Posted June 30, 2006 (edited) What the Soviet Union gave up in 1989 the New Soviet Union will take back in the form of Eurozone control through vital oil. Think gas and oil is expensive now? Think they won't shut supplies down in mid-winter like they did to the former Soviet satellite that was not towing the party line? President Putin has already talked about $300 a barrel and if he controls the market he sets the price. Why else would he have been "nationalising" the energy companies in Russia recently? The Leopard never changes its spots and Russia is a leopard. IMO, I would rather trust the big "American" oil interests like BP, Shell, Total/Elf .................... Hang on, we, the Dutch and the French own those companies! http://business.guardian.co.uk/story/0,,1809319,00.html BP under fire as Competition Commission targets LPG market Terry Macalister Friday June 30, 2006 The Guardian BP found itself under fire again yesterday when a raft of initiatives were announced to crack down on suppliers of liquefied petroleum gas. The Competition Commission said its final report supported provisional findings that "competition is not working as well as it should be in this market, and that LPG consumers are losing out as a result". The judgment comes less than 24 hours after BP faced a civil lawsuit from a US regulator over allegations of price manipulation in the propane sector. Not just the US that get naughty! Edited June 30, 2006 by Realistbear Quote Share this post Link to post Share on other sites
Realistbear Report post Posted June 30, 2006 http://news.bbc.co.uk/1/hi/business/5129662.stm Dollars versus roubles Flying off the printing presses in Moscow are sheets of perfect new rouble notes as Russia prepares to float its currency. The rouble will be freely tradeable, joining the world of fully-fledged international currencies. Liberalising capital and currency controls will encourage investment into Russia Alexei Kudrin, Russia's Finance Minister "It won't be a quick process to gain trust. Step by step it will come," says Russia's Finance Minister Alexei Kudrin. Printing money to flood the market? Rubles anybody? Quote Share this post Link to post Share on other sites
Assurbanipal Report post Posted June 30, 2006 Russia as well will establish an commodity stock in rubles, in 2007. Similiar move did Iran, ready is Venezuela. OPEC generally is open for euros now. Additionaly, many countries are transfering their reserves from dollars to euros. Russia already moved increased euro reserves up to 40% of total reserves amount (from 10%). The same is in preparation or under cunducting in many Asian countries. Obviously, this means the end of the greenback as a strong currency. Quote Share this post Link to post Share on other sites
Realistbear Report post Posted June 30, 2006 Russia as well will establish an commodity stock in rubles, in 2007. Similiar move did Iran, ready is Venezuela. OPEC generally is open for euros now. Additionaly, many countries are transfering their reserves from dollars to euros. Russia already moved increased euro reserves up to 40% of total reserves amount (from 10%). The same is in preparation or under cunducting in many Asian countries. Obviously, this means the end of the greenback as a strong currency. The only problme is that the US is 20% of the world's demand and the largest economy by far. Cripple the demand and recession-depression follows. If everyone gets on the bandwagon to becom ethe world's currency there will be massive competition through printing of money to see who can hook the most people on their system. Sounds like a recipe for diastrous inflation to me. Germany tried that one before WW2. Weimar inflation! Quote Share this post Link to post Share on other sites
