48 Replies to “No Roubles, No Gas”

    2. “Its all about destroying reserve status of US.”

      Biden is doing a much better job than Putin. The reserve status of the US dollar has everything to do with stability and nothing any foreign power does will affect it. In fact whatever foreign powers do to destabilize the US dollar likely helps stabilize it. International traders fear nothing more than currency manipulation which is what the Russians are attempting.

      1. I kind of disagree. China, India, Saudi Arabia and Russia are now buying & selling oil and other products not in US dollars. That will hurt the USD as a reserve currency. As this picks up, less USD will be required in circulation. Since the Ukraine war the CAD has rallied to over 80 cents. The USD should be strengthening given the uncertainty. The AUD is up. Looks like the crappy Euro is even starting to rally. And they have no oil.

        1. There is one thing and one thing only why people buying and selling oil deal in $US. Stability. They like there to be stability between the dates they order, take delivery, and pay for the oil. Holding $US is a different decision. Hedging or speculating in currencies is again a different decision. It likely takes 5 minutes to convert the value of a tanker full of oil into whatever currency you want.

          1. The USD has lost any claim to stability. The open seizing of Russian CB assets has permanently ended the “stability”. Add that to the seizing of Venezuela’s assets. The seizure of Russian assets was illegal under International Law. Fact.

            Well, if you are Argentina, Brazil, Iran, India, China, Syria, or indeed any country with a potential future disagreement with the US, why would you keep your assets in USD? You will keep some in USD. And a good chunk of former USD assets will be repatriated, and moved into a different currency. I am going to bet Rubles.

        1. Jamie – Which Biden, Hunter? Joe is demented so you can’t mean him. Either he’s demented or he’s thinking “Crazy worked for Trump. Maybe mentally handicapped will work for me”.

  3. They are also backstopping their currency in Gold by offering to buy Gold for Rubles (at a discount in current pricing). They and the Chicoms are potentially trying to destroy the fiat currencies of the bankrupt western fascist welfare states. There would be no better way to crash leviathan and default all their unfunded Ponzi schemes than to force a Gold standard in petro currency as petrol is what makes modern industrial civilization work despite the magical thing of Gang Green and their Eloi.

      1. Why do I get this nagging feeling that we’ve been lied to, and why do I get the sickly feeling that the west has been outmaneuvered by Put-put?

        1. Because the west displays the intellectual vacuousness of Colonialista, Allan S, and the rest of the idiots when it comes to Russia.

          1. @CID

            Hey take it easy man, just because there are people who support the CBC, MSNBC and all the globalist pedophiles does not instantly mean they are all “intellectual vacuousness”, a few of them support them quite deliberately.

  4. Unilaterally changing the payment terms in a “contract” is not how you honor and enforce the idea of contracts in International Trade. But authoritarian dictators are going to dictate.

    Just be glad it is not January. Germans might still be living and dying in the dark, but they might not freeze solid.

    1. You are correct. I just wonder how many contracts with Russia where cancelled by the imposition of sanctions? Which authoritarian dictator might you blame for that?

      1. Would them be the same type of authoritarian dicktastors (sic…) that impose some sort of “green economy” (including “no internal combustion engine for you!”) from top to bottom, as if that was really good for us because they know better?! Asking for a friend…

    2. Nonsense. It’s the renegotiation of a contract. Two parties. One paying the other in exchange for goods and services. Circumstances change. Shit … NFL players do it ALL the TIME … or they’ll boycott. Sit out the remainder of their contract.

  5. Nobody knows, in spite of the “experts”, how this will work.
    If nothing else, you gotta agree that Putin can shoot the shit.
    Then the “experts” in order to make some money, play with it to no end.

  6. Putin plays chess. The west plays with its genitalia, and even that seems to confuse the west no end.

    3. HiHo….

      Ain’t that the TRUTH of it all eh…??
      Succinct and 100% Bang on..!!
      LMAO…!

      Btw….go try to buy some Rubles here in Canada..??
      Not happening – fking BANKS & their BS.
      But I WOULD bet that the Rothschilds have a few Million of em right..??

      I had a mind to go buy $200 CAD on em. @ 0.013/per – Woulda netted me some 15,000 Rubles. And I think theres a good chance their value will increase …. big time.

    1. Gee what could one do to really harm Putin and Russia? Hey heres an idea – drill baby drill, open the leases, and put a priority on completing the Keystone.

      All achieved with a stroke of Bidens pen. 10 minutes. And oil would drop instantly because buyers would know additional supply would be forthcoming. Drive oil down to 40 – 50 bucks again.

      As it stands Russia is doing very well financially – even selling at a discount.

      1. Do you think Keystone would go ahead if the US said okay? Wouldn’t Trudeau make it go through some new process for rejection?
        I can’t believe Singh and E. May would go along with more oil exports.

        1. Keystone will go ahead after regime change. The Chinese had their Warring States period, too.

  8. Law of unintended consequences. Virtual signaling has a price, but you can bet it’ll be the average German citizens paying, not their rulers. Supposedly, according to DW, Putin has told Scholz they can pay in Euros or US$ to Gazprom Bank, which will then convert to Rubles to Russia’s Central Bank for the time being. I have a sneaking suspicion some of the EU/NATO countries are beginning to have second thoughts about being browbeaten/coerced by the US into enacting sanctions for a war they were led to believe would be over in a week or so, with Russia being militarily defeated & financially ruined. Now it’s they who will be ruined economically with sky high energy costs, job losses & food shortages.

    1. I have a sick feeling that the Germans are not the only ones that will be paying for the virtue-signalling.

    2. Russia knows they are holding a double-edge sword. The west does not. The ruble conversion seems to be a way to limit its depreciation. But the important point is to continue selling gas. I would expect Russia to sell its gas to the EU long enough to re-route or complete any pipelines to China and India. Imagine an economic block with the population of China and India and with the natural resources of Russia.

  9. Launches military invasion at the start of the wet season. Threatens to cut off gas from 1st April.

    “3D chess” moves that look a lot like stupid.

    1. An oldie to go with that theme:

      “… It ain’t no joke to be stone broke
      Baby, you know I’d lie when I say
      Romance without finance is a nuisance
      Please please baby give me some gold…”

      “https://music.youtube.com/watch?v=gyQRDrExI_k&list=RDAMVMgyQRDrExI_k

    2. Exactly. Russia gets to buy it $52 per gram, but here in Canada it’s more like $85 a gram.

      How does that work?

    3. Only to a stupid useful idiot like you. Got any more moron tidbits to regurgitate from CNN?

  11. When this happens to us, China will step in and demand payment in yuan.

    Am I wrong?

    1. You are wrong. People who actually want to sell things cater to their customers. Russians are being assholes and will likely suffer. Customers will internalize risk in whatever price they are paying.

    2. It depends. China will probably keep a few American dollars for their Asian/American market,but we may see a system tailored to a more diverse currency reserve.
      What is certain is that the American dollar’s days as the sole world currency, are over.
      Note that Africa is looking east and is staying out of America’s proxy war.

    1. If Colonialidiot actually watched that he would regurgitate the kielbasa he just diddled.

  14. Saskatchewan and Alberta should do something similar. Pay for our resources in real money. Not just oil and gas but food,potash, uranium, etc. The dollar is worth less by the day. Same with the US dollar. Freefall feels like floating at first then comes the sudden stop.

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