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Also energy related:
Iran wants to dump dollar in crude trade – report
https://www.rt.com/business/331571-iran-dump-dollar-oil/
“In our invoices we mention a clause that buyers of our oil will have to pay in euros, considering the exchange rate versus the dollar around the time of delivery,” the source said.
Tehran also wants to receive billions of dollars worth of assets frozen under the sanctions in euros, said another source. Iran has an estimated $100 billion in assets and around half of these would be unfrozen under the upcoming sanctions relief.
Iranian disdain for the American currency is nothing new. In 2007, it unsuccessfully campaigned at OPEC to switch from the dollar. The role it plays in the oil trade is one of the key reasons the dollar enjoys the status of the world’s leading reserve currency.
Iran is not alone in wanting to distance itself from the dollar. Russia has been working towards the same goal, trying to eliminate the US currency from domestic trade and signing deals with its key foreign economic partners to use national currencies in bilateral trade.”
Both Iraq and Libya tried that and look what happened..
China, Russia, Japan, Venezuela, Iran, and others are using rubles, yuan, euros, or yen for their energy transactions. OPEC prices its oil via a basket of currencies. Russia and Europe have used rubles and euros for oil and gas for awhile. Remember, everything that’s currently happening globally is part of an already Global 3rd World War–particularly the various economic actions we’ve seen. We sometimes get too involved in looking at the hotter but smaller actions taking place and lose sight of the overall context. The Outlaw US Empire wants to control the planet, its people and resources as it’s stated in Vision 2010 and Vision 2020, thus the aggression and resistance is global in scope.
I am not a financial expert, so I am merely wondering:
(1) What is the difference between trading in euros and trading in dollars? Aren’t these currencies completely mutually exchangeable? Both being parts of the “West”?
(2) If Iran announced it would trade only in Iranian rials or in Russian roubles or in Chinese yuans, I suppose that would be fundamentally different. Wouldn’t it?
Could anyone with financial expertise please explain.
Thank you.
Trading for oil in Dollars means that anyone that wants to pay for oil must keep on hand large reserves of US Dollars in order to pay for that oil.
This need for large reserves of US Dollars creates constant demand for US Dollars thus maintaining/propping-up the “value” of the US Dollar.
As a consequence of this need to hold large US Dollar reserves it is considered to be a relatively “stable” currency, whose “value” is unlikely to change dramatically over the long-term and is thus a reasonably good bet when it comes to choosing which currency to buy when one wishes to stash ones ill-gotten gains outside the country-of-origin of those ill-gotten gains
My 2c: I am no expert either but the US$ is the world’s reserve currency and the US debt, which is in trillions and which can never be paid back, can only be propped up by printing yet more and for other countries to buy this debt.
If the US$ cannot maintain itself as the reserve currency the whole Ponzi scheme comes crashing down -and the USA with it.
War is the only alternative to erase that debt, assuming the USA ‘wins’ and Earth is not destroyed.
Declaring bankruptcy and gaining some decency is the real alternative.
All state issued currencies presently in circulation are fiat currency. That is, they are pieces of brightly coloured paper which represent a promise, a debt and a threat. The promise is from the state which urges all to believe that fiat paper is valuable and is a safe means of storing value. Debt is the means by which the fiat tokens are created and ordered into circulation (they represent debt and are not an asset). The threat is two fold. Firstly that fiat must be accepted to settle all accounts whether public or private (or else). Secondly that fiat must be used to pay taxes (or else).
It was once the case that these state issued currencies were (or at least partially) representative of real asset (not solely threat and promise). It was possible to redeem the bits of coloured paper for specie such as gold or silver. The ability for the people to redeem the state fiat paper for specie limited the amount of currency inflation the state or its crony chums could undertake. Those days are gone- long since. Now it is just paper and worse, digital representations of paper representations of nothing at all- all unbacked, the product of serial paper-hanging.
What keeps the USD so important in the world is the requirement to hold and use USD for much of the trade undertaken internationally, especially in regards to petrochemicals, but not solely limited to those alone.
There is a rule in economics. In the long run fiat currencies eventually return to their intrinsic value. Consider that value. It is the value of brightly coloured pieces of paper with pictures of dead politicans.
Siotu
The catch is in if that currency is supported in gold or not. The Dollar has left the gold standar so in fact are just monopoly money. The move of the USA is force the entire world to trade the Oil on dollars so they can backup their currency on it instead of gold. And that it´s basicaly stealing from the rest of the world to support their inmense debt
IN 2008 Russia and china had the opportunity to destroy IMF and world bank and the american -british system of looting the world ;but foolishly these two countries went on ,prompting from parasite england, recommended IMF and world bank to lead new economic system! How stupid of these countries and that is why they never go up in world because of their stupidity.
Therefore china and russia must prepare for war which is coming their way
@an on February 06, 2016 · at 11:30 pm UTC
What you are proposing here
“IN 2008 Russia and china had the opportunity to destroy IMF and world bank and the american -british system of looting the ”
it would be the most foolish thing to do, because by this hastily process they would take down the all world and the unimaginable chaos and looting would take on because every single country around the world is connected by the US $.
Parasites are just waiting for this moment to happen, they can’t wait for this world chaos /when the blood is running through the streets we do the best business around the world – David Rockefeller /
Russia and China are definitely not stupid, they are actually very clever because they know very well as the rest of the world that these parasites are going to choke themselves pretty soon by their greed and military aggression.
If the China and Russia would be so stupid as you have described we would be already fried by the atom bombs as a result.
Let’s invite them to the North of Russia and they will learn another Stalingrad lesson.
The oil prices and the Petrodollar will follow the path of war !
It is highly unlikely that NATO will not intervene in case of a Russia-Turkey open war.Just look at the map,Turkey represents the south-eastern flank of NATO and beside that,assures the security of the Arab peninsula and Israel,thus the Suez-Canal and Horn of Africa.The entire region has a very high strategic importance.Add to that the coming intervention in Libya which is also very important.Now,what will happen if Turkey is beaten in an all-out war against Russia (without the help of NATO) : – the entire eastern flank of NATO will be lost,with all the negative impact on USA,NATO and their Arab allies.
– Turkey as a NATO base will be lost forever
– Egypt will now openly switch on the side of Russia and her allies.A new order will be in place in the entire region,the palestinians will return to their new Palestinian state.Hard times are to come for Israel.
– Saudi-Arabia shall lost her power as well as Qatar,Kuwait and Bahrain (the US,British and French bases will have to be closed for ever – in the Golf)
– The price of oil will be dictated in coordination with Russia and not in Dollars
– The EU will succumb and crash or will be forced to switch towards the new order if wants to survive.Maybe the EU as a whole will be put under scrutiny as well as NATO.Greece will be the first to leave it.
– Iran will be the main regional power.
– USA will lost her hegemony,hard times will come upon her too.
There is another scenario : the Turkish military and political class will revolt in the wake of defeat against Russian coalition.They will manage to change the regime and achieve a ceasfire with the Russian coalition,leaving NATO and thus making the first step toward a reconciliation with Russia.I think this would be the right scenario for Turkey in case NATO will not intervene.
Maybe USA will let those things to happen being to afraid to intervene militarily – risking a wider conflict – and will make a deal with Russia in order to save face.
However,I am skeptical,there is too much at stake for the US.
South Front: The Norwegians don’t use contract soldiers and they learn at a young age to be outside in the snow and cold. You would think their fierce nationalism would keep them wary about getting engaged with NATO -US agenda and free to deal fairly. The Swedes: total opportunists since the time they were “neutral” and selling ball bearings to the Werhmacht circa 1940.
“… The Norwegians … their fierce nationalism …”
Yeah, right. Take for example Vidkun Quisling…
You forgot the message sent to the Norwegians with the Island massacre of their political youth wing.
Look at their actions before and after and it is clear what Breivik (a patsy) was used for. Although their performance in WW2 was less than stellar as well.
Finland, the media and Political Body want NATO but the people do not and at this stage they are being gently coerced in that direction by the media. If things hot up, there might be some action tried to bring them on board but Finns are stubborn and although the older generation has Russia paranoia, the younger seem to be less so.
The Swedes militarily are a joke and their fears well summed up in this Music Video to the Music of ABBA
https://www.youtube.com/watch?v=RTbL1hH19BE
Much noise over nothing like their recent submarine witch hunt.
https://www.rt.com/news/249109-sweden-submarine-hunt-workboat/
I want to add to this that the political elite of Finland is not totally for the NATO, there´s a strong faction against NATO also in a political body, but no-one mentions it very loud. Our president is a good man and he sees also the other points of a view. And right now he´s very popular here. Media tends to distort everything, as you readers of the Saker know. And what makes you think that the older generation of Finland has Russia paranoia? I´m one of those people you are referring to.
Turk proxy forces defenses crumbling.. This Geneva talks was a farce cooked up by Kerry to buy his terrorists more time to prepare something against Russia.. Kerry is foaming and blabbing even more than that lunatic backstabbing pasha gangster. Maybe even put together an invasion force to get a foot hold inside Syria especially the areas with all the oil. But we already knew that just due to the sheer number of suicidal attacks at the only Syrian outpost in the middle of it all, isolated and surrounded and which the Canadians bombed by oooops mistake. That Sikh guy probably did not hear the discussion so well having his ears covered at the meeting because of the turban. He took it literally that nato has to get rid of the Syrians at that base and missed the part about using mercenaries… The desperation is making everyone edgy and where mistakes happen. When you don’t give clear orders but just suggestions for your vassals to follow, everyone has their own take on things.
Both northern and southern border crossings are within reach now.
YPG is trying to capture Azaz, the bastion of Turkish logistics and supply lines into Syria. If anything is going to happen it will happen now. Losing this would kick Turkey out of Syria.
Visual evidence that Mayer town in #Aleppo province is taken by #SAA #Syria HD: https://t.co/do4xjFcLDG
Pro #FSA Reporter says 1 large group sent 100 fighters to #Rityan NONE RETURNED.
YPG advance south of #NublZahraa taking control of parts of the quarries near Al-Tamourah in #Aleppo countryside
Government troops launch huge offensive at #Daraa city – Map update http://bit.ly/1nT7pBH
Massive assault from 4 different directions is taking place in Darayya. 4th Mechanized Division is now operating there.
Insurgent’s “Southern Front” is crumbling: reports that #SAA forces captured #Naimah town near #Daraa city. #Syria
https://twitter.com/PetoLucem/status/695923640932659200
NEW MAP: Military situation in #Daraa Governorate. #Syria HD version: https://imgur.com/zmiLfRb
Visual evidence that Ataman town in #Daraa province is indeed taken by #SAA #Syria
https://t.co/KDILLG2VrQ
ISIS fighters surrounded as the Syrian Army advances to #Quraytayn http://bit.ly/1Q1YslM #Homs #Syria
Bakery used as ammo factory in Mayer, left corner vertical drill used for precise drilling, right hell canon ammo.
https://twitter.com/Ald_Aba/status/696108422845087748
Munition for hell canon stored at Ratyan school building. #Aleppo #Syria
https://twitter.com/Ald_Aba/status/696068669911203840
I think we’ve hit Peak CIA and Department of Defense psychological operations.
I like to watch the North European tv shows, especially those made by Yellow Bird production.
This Swedish production company that started with very dark Kurt Wallander mysteries, went on producing even darker the Millennium trilogy, and entertaining journalist Annika Bengtzon’s stories.
In 2015 Yellow Bird produced Norway’s most expensive TV series ever is backed and financed by the European Union programming, which makes it the EU’ official propaganda: TV show “Occupied.”
Moscow’s reaction was portrait by the UK and French and US media as “irked, to outraged, and furious.” But, it actually wasn’t. Especially after people actually have seen the show.
So the EU pays to made a movie about the occupation of Norway by Russia, with the full approval of the EU. However, the EU is not in any way portrait as an “aggressor” here. Russians are.
It’s actually a good show all around. I was a bit disappointed that we Russians weren’t portrait like an aggressive brutes who, growl and eat raw meat with bare hands, and wear animal fur, as we most definitely do especially in swimming pools. Don’t forget also customary breakfast of vodka with pickles. This is an image of us we want to keep alive in meek Western minds, and I will explain you why at some point.
I really fully appreciate Norway’s fear of being invaded by us, because Norway has something we desperately need, – more of frozen tundra, and slow witted angry blonde men.
A key phrase for what this whole show was paid by the EU is in the 2nd episode. A Norwegian presidential guardsman, who failed at his attempt to assassin a Russian Ambassador, says “Everyone in Norway military wants every Russian dead.”
I am convinced that the EU and Norway spend $100 million dollars to be able to say this across the screens in the EU and US and everywhere where people have too much time on their hands to watch this.
However, this is a show has a hidden meaning.
1. Russians always ask for peaceful resolution of any conflicts
2. Any violence comes from those who hate Russia and call themselves Norwegian nationalists.
3. Anti-Russian terror results in mounting of innocent death,
4. media blames Russians for actions of anti-Russian terrorists. media always claim that Russian civilian losses are self-inflicted.
Darn do you mean the TV show Occupied left out scenes with bearded Cossacks and their horses charging down blond Norwegian women in the South of Oslo city and skewering them with their curved swords?
Darn and I thought it was going to be interesting.
How are the suntanned Norwegians shown in Occupied or did the producers forget that they exist?? You now, relatives of the ones recently shown a good time in Murmansk.
btw, thanks for the laugh
Any nudity? Were any animals harmed in the making of this feature?
You are confusing Germany and Denmark for Norway :)
Very unfair, Anon, you ‘forced’ me to download all 4 episodes just now. Grrrr!
Watched the first two episodes. Very nice!
My Russian mole in the hole tells me what this is all about. When the empire goes under Russia will be prepared to retake Alaska.
What’s a contract soldier? I thought all soldiers were under contract and oath.
A volunteer servicemen or woman rather than a conscript. They signed a contract to serve under their colours.
Russia should be prepared for the worst but does nto have to spend all that in one go-those should be kept in reserve. russia only needs to take out england and the head of nato will be cut .problem solved.nato was created by england to keep herself relevant after second world war and aslo to occupy germany and isolate russia with american help
Well said. Should there be a global war, Russia must immediately nuke UK ( at least with tactical ), otherwise they will have never ending war that eventually would bring Russia down.
If somebody will try to use nuclear weapons at first,will have to take responsability for the destruction of the entire planet,cause there will follow others suit.I think there will be a conventional warfare
Ukraine Bonds Crash After Economy Minister Resigns Over “High-Level Corruption”
http://www.zerohedge.com/news/2016-02-06/ukraine-bonds-crash-after-economy-minister-resigns-over-high-level-corruption
“””””Speaking in Kiev, Aivaras Abromavicius said he had no desire “to serve as a cover-up for covert corruption, or become puppets for those who, very much like the old government, are trying to exercise control over the flow of public funds”.”””””
Lithuanian-US-Ukrainian triple citizen Aivaras Abromavicius considers himself to one of the smarter cookies. By becoming Ukrainian Finance Minister, he reasoned, he could become rich and famous without breaking into a sweat.
Now that things have turned sour, Aivaras Abromavicius quickly had to reinvent himself as a truth-teller and whistle-blower. So far, his performance in the new role has been spectacular. What an a**hole!
@zweistein: Well, yes, and well said. The question is: Does he act on his own, or is it his task to crash some market because certain “investors” are running bets against them.
Question 2 is: How sure can he be to not accidently fall from some ladder during the near future, after f***ing Kiev?
The UAH is meanwhile at 28 per EUR (from the year long 24).
But that’s more related to the currect Dollar weakness.
We who are oppressed
Love those who fight against oppression
And the oppressors
Psych up first… https://www.youtube.com/watch?v=AwuB5WPbRhc
Brothers and sisters, it is with great honor and privilege
That I present to you
The leader of the El Fatah revolution, from Libya
Our brother, Muhammar El Kahdafi
New Unseen Footage of #Gaddafi Begging for His Life before Death
The video was captured by a fighter called Ayman Almani on his mobile phone in October 2011.
Similar footage was shown at the time of Gaddafi’s death, but this video clearly shows him pleading for his life, Daily Mirror reported. – See more at: https://t.co/ZuBpR0HrJh
Other forum had a link up u-tube clip subtitled yet, yesterday showing Gaddhafi at 2008 Arab League summit, ironically held in Syria, giving speech excoriating his brothers for being such a bunch of worthless complicit brown-nosing suckups!
Actually there’s several, ranging 1+ minutes to 9+;
4:02
Gaddafi speech: “America hanged Saddam, and we could be next!” (with English)
excerpt from Gaddafi’s prophetic speech to Arab leaders during Arab summit in Syria (2008), stressing that Saddam Hussein’s fate …
https://www.youtube.com/watch?v=eC0hPI1QCKc
Clips of these videos are shown in the Putin interview special “World Order” shown on this site. Talk about a crystal ball. Love the part with Assad laughing at the “buffoon” Ghaddafi.
Aww shucks, regime change? That happens to other people…
OT: Ukraine has tried to stop the airing of a Canal+ video about the Maidan. YouTube has pulled several versions (no surprise there). LiveLeaks has a version with English subtitles.
http://www.liveleak.com/view?i=30e_1454796647
Seems they won’t have the F-35 to contend with over the arctic expanses for a long while, maybe never.
It’s single-engine, so not smart anyway in vast expanses.
List of woes update:
http://sputniknews.com/military/20160207/1034377869/us-fighter-jet-flaws.html
The cost of a helmet edition is estimated at 400 thousand dollars, but it does not provide a clear image in the dark.
The Block2 also has issues with the accuracy of fire, radar, passive sensors, the ‘friend or foe’ recognition system and the electro-optical guidance targets for attacks.
(OH, the irony! It’s called the ‘Lightning II”!)
The F-35 also doesn’t meet the requirements necessary to provide protection to the fuselage against lightning. “If a solution is not found, F-35Bs will require the development of alternate lightning protection methods.”
So stupidly complex one stray flak fragment or 20/30/40/57 mm cannon shell would shut it all down in flight.
The images of a Russian Arctic soldier, fully armed in white Camo uniform, pulled by four reindeer, or 6 dogs , should provide all Christians, and others, with an alternative meaning of Christmas.
I think that these images should enter into Saker’s Photo Gallery of memorable moments.
Regards, Spiral
Russia Says Arrests Seven Daesh Militants over Attack Plot
http://www.tasnimnews.com/en/news/2016/02/08/995096/russia-says-arrests-seven-daesh-militants-over-attack-plot
TEHRAN (Tasnim) – Russia’s FSB security service said on Monday it had arrested seven Daesh (ISIL) militants in the Urals city of Ekaterinburg who had been planning bomb attacks in Moscow, St Petersburg and the Sverdlovsk region.
The leader of the group came to Russia from Turkey.