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you want our stuff, you pay us in the coin we want #7542460
03/28/22 11:58 PM
03/28/22 11:58 PM
Joined: Dec 2015
Posts: 5,340
se South Dakota
NonPCfed Offline OP
trapper
NonPCfed  Offline OP
trapper

Joined: Dec 2015
Posts: 5,340
se South Dakota
Good luck finding all those pennies. Perhaps the Russians will make a deal to have the Euros pay in yuan. Probably easier to convert anyway. Another nail in the USD as the "petrol dollar" and maybe the "reserve currency"...



Kremlin Threatens To Halt Supplies As G7 Ministers Reject "Unacceptable" Demand To Pay For Gas In Rubles


AND finally, Paul Craig Roberts endorses Russia’s policy: “the West has no right to complain”

https://sputniknews.com/20220328/pe...g-russian-gas-for-rubles-1094263776.html




Russia will not supply gas for free if the EU refuses to pay in rubles, said Kremlin spokesman Dmitry Peskov on 28 March in response to resistance demonstrated by Western countries obliged by Moscow to use rubles in the energy trade with Russia.

"The sanctioning countries that have breached all their contracts with Russia have no right to complain that Russia breaches one in return", says Dr Paul Craig Roberts, US economist and ex-assistant secretary of the treasury under Ronald Reagan.

"If the countries refuse to pay, Putin should immediately turn off the energy. Indeed, he should have done so before launching his military operation in Donbass. It is nonsensical for Russia to keep alive the economies of countries that are sending weapons to Ukrainian Nazis to kill Russians".

Russian President Vladimir Putin on 23 March ordered the Russian Central Bank and the government to work out the means for ruble payments for Russian natural gas exports by nations designated as "unfriendly" by Moscow. The list of foreign states that committed "unfriendly actions", including sanctions and seizure of assets, against the Russian Federation, Russian legal entities, and individuals was made by the government earlier this month.

The Russian president explained that after Western countries had "frozen" Russian dollar and euro assets, it became clear that "supplying our goods to the European Union and the United States and receiving payment in dollars, euros, and a number of other currencies does not make any sense to us".
[.]

Dr Roberts hailed the Kremlin's decision to switch to ruble payments, asking in his blog: "Is Russia going for the petro-ruble?" According to the economist, Moscow could apparently be pursuing two goals: first, forcing Russia's energy customers to bypass the sanctions; second, ruble payments support the value of the ruble and frustrate the sanctioning countries' hope of causing its value to collapse.
However, "payment in rubles should be the policy regardless of sanctions", according to Dr Roberts.[.]


"And God said, Let us make man in our image …and let them have dominion …and all the creatures that move along the ground".
Genesis 1:26
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542467
03/29/22 12:04 AM
03/29/22 12:04 AM
Joined: Jan 2014
Posts: 16,636
North East Kansas
Marty Offline
trapper
Marty  Offline
trapper

Joined: Jan 2014
Posts: 16,636
North East Kansas
could get very interesting....



E
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542475
03/29/22 12:26 AM
03/29/22 12:26 AM
Joined: Jan 2008
Posts: 7,229
Alaska and Washington State
W
waggler Offline
trapper
waggler  Offline
trapper
W

Joined: Jan 2008
Posts: 7,229
Alaska and Washington State
The influence of the USA fading fast; good or bad?


"I'm not skilled to understand"
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542478
03/29/22 12:41 AM
03/29/22 12:41 AM
Joined: Aug 2008
Posts: 13,417
ny
U
upstateNY Offline
trapper
upstateNY  Offline
trapper
U

Joined: Aug 2008
Posts: 13,417
ny
Or we could supply our own energy with enough to export,,and tell Russia to go pound their rubles.Oh wait,,Trump already did that,,and this administration over turned all that.


the wheels of the gods turn very slowly
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542482
03/29/22 01:02 AM
03/29/22 01:02 AM
Joined: Dec 2006
Posts: 8,587
Magna, Utah
G
GritGuy Offline
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GritGuy  Offline
trapper
G

Joined: Dec 2006
Posts: 8,587
Magna, Utah
Was going to put that down but UpstateNY beat me to it, lots of things could be a whole lot different right now if Demo's had not messed with elections and gotten away with it !!!


[Linked Image]

Sorry if my opinions or replies offend you, they are not meant to !

Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542529
03/29/22 06:19 AM
03/29/22 06:19 AM
Joined: Mar 2019
Posts: 1,459
Southern NJ
maintenanceguy Offline
trapper
maintenanceguy  Offline
trapper

Joined: Mar 2019
Posts: 1,459
Southern NJ
Obviously, those in power don't want to end this and aren't actually trying to stop Russia. We could provide all the oil the EU needs and make Russia the 3rd world. We could stop imports from China and make China the third world again. But we won't.


-Ryan
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542537
03/29/22 06:44 AM
03/29/22 06:44 AM
Joined: Dec 2006
Posts: 17,736
Sandhills Nebraska
G
Gary Benson Offline
trapper
Gary Benson  Offline
trapper
G

Joined: Dec 2006
Posts: 17,736
Sandhills Nebraska
Sounds like all the countries buying energy from Russia need to go green since that's working so well here.


Life ain't supposed to be easy.
Re: you want our stuff, you pay us in the coin we want [Re: maintenanceguy] #7542541
03/29/22 06:48 AM
03/29/22 06:48 AM
Joined: Feb 2010
Posts: 15,287
pa
H
hippie Offline
trapper
hippie  Offline
trapper
H

Joined: Feb 2010
Posts: 15,287
pa
Originally Posted by maintenanceguy
Obviously, those in power don't want to end this and aren't actually trying to stop Russia. We could provide all the oil the EU needs and make Russia the 3rd world. We could stop imports from China and make China the third world again. But we won't.


We were headed that way, throw Iran in too, but........

Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542566
03/29/22 07:24 AM
03/29/22 07:24 AM
Joined: Dec 2006
Posts: 24,867
williamsburg ks
D
danny clifton Offline
"Grumpy Old Man"
danny clifton  Offline
"Grumpy Old Man"
D

Joined: Dec 2006
Posts: 24,867
williamsburg ks
Quote
We could stop imports from China and make China the third world again



We cant stop imports from China. We no longer have the facilities to produce the stuff we buy from them. Leather, cotton cloth and garments, medicine, steel, and other manufactured goods. Some of the buildings still exist but in such poor shape they need rebuilt.

The skilled labor needed to produce that stuff no longer exists here. People would have to be trained. Welfare ended so all the deadbeats need a job. There will be riots when those checks are shut off and lawsuits filed till they figure out they have to show up everyday, on time, then work, to get paid. It will take years to build back what we gave away and bring back the American work ethic.


Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542568
03/29/22 07:25 AM
03/29/22 07:25 AM
Joined: Dec 2006
Posts: 17,736
Sandhills Nebraska
G
Gary Benson Offline
trapper
Gary Benson  Offline
trapper
G

Joined: Dec 2006
Posts: 17,736
Sandhills Nebraska
Plus, you can't force children to work for twenty cents an hour here.


Life ain't supposed to be easy.
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542581
03/29/22 08:01 AM
03/29/22 08:01 AM
Joined: Dec 2006
Posts: 2,202
central Missouri
B
Bigfoot Offline
trapper
Bigfoot  Offline
trapper
B

Joined: Dec 2006
Posts: 2,202
central Missouri
The sad thing is there are lots of depleted natural gas reserves throughout Europe that if they allowed fracking would be very productive . Russia has spent billions financing the environmental groups that lobby for policies that limit EU production of NG from fracking

Re: you want our stuff, you pay us in the coin we want [Re: Gary Benson] #7542584
03/29/22 08:03 AM
03/29/22 08:03 AM
Joined: Dec 2014
Posts: 1,673
Tug Hill, NY
S
Squash Offline
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Squash  Offline
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S

Joined: Dec 2014
Posts: 1,673
Tug Hill, NY
Originally Posted by Gary Benson
Plus, you can't force children to work for twenty cents an hour here.


Also, you can’t force adults to work for $20/ hour.

Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542588
03/29/22 08:08 AM
03/29/22 08:08 AM
Joined: Dec 2006
Posts: 2,202
central Missouri
B
Bigfoot Offline
trapper
Bigfoot  Offline
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B

Joined: Dec 2006
Posts: 2,202
central Missouri
Fracking is probably the single largest threat to Russian influence in Europe. Every time anybody has ever ask Putin about fracking he goes off on an angry rant about how horrible it is .

Re: you want our stuff, you pay us in the coin we want [Re: waggler] #7542597
03/29/22 08:26 AM
03/29/22 08:26 AM
Joined: Oct 2018
Posts: 5,477
Dunbar, Wisconsin
P
Pike River Offline
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Pike River  Offline
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P

Joined: Oct 2018
Posts: 5,477
Dunbar, Wisconsin
Originally Posted by waggler
The influence of the USA fading fast; good or bad?

Depends.... do we want to continue to be a world power or return to the old policy of isolationism? Both have their pros and cons

Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542607
03/29/22 08:34 AM
03/29/22 08:34 AM
Joined: Dec 2006
Posts: 24,867
williamsburg ks
D
danny clifton Offline
"Grumpy Old Man"
danny clifton  Offline
"Grumpy Old Man"
D

Joined: Dec 2006
Posts: 24,867
williamsburg ks
Quote
return to the old policy of isolationism


Thats a word liberals use to make people think giving away our manufacturing ability and our involvement in foreign politics are good ideas. That involvement in and funding of the U.N. is a good thing. The U.S. has never been isolated.

Last edited by danny clifton; 03/29/22 08:34 AM.

Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7542611
03/29/22 08:40 AM
03/29/22 08:40 AM
Joined: Jan 2018
Posts: 3,145
MN
D
Donnersurvivor Offline
trapper
Donnersurvivor  Offline
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D

Joined: Jan 2018
Posts: 3,145
MN
There are reports that the Russian central bank is working on tying the Ruble to Gold.

Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7544350
03/30/22 09:19 PM
03/30/22 09:19 PM
Joined: Dec 2015
Posts: 5,340
se South Dakota
NonPCfed Offline OP
trapper
NonPCfed  Offline OP
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Joined: Dec 2015
Posts: 5,340
se South Dakota
Quote
There are reports that the Russian central bank is working on tying the Ruble to Gold.


Yes, I've heard that as well but no one is willing to say it out loud if true. The Russian Federation does have one of the largest holdings of gold (their word) in the world. Considering that they have the largest country by area TWICE over next in line Canada, I wouldn't be surprised.

Meanwhile, out of Oil Prices. com:

Deadline For Rubles For Gas Scheme Approaches
By Charles Kennedy - Mar 28, 2022, 11:30 AM CDT

Russian President Vladimir Putin has instructed Gazprom, the central bank of Russia, and the Russian government to come up with a report by the end of March on how to change the payment for Russian gas to rubles for customers who are part of Putin’s so-called “unfriendly” countries list.

“The Russian government together with the Bank of Russia and Gazprom PJSC should implement a set of measures on changing the currency of payment for natural gas supplies to the countries of the European Union and other states that imposed restrictive measures against the citizens of the Russian Federation and Russian legal entities, to the Russian ruble,” according to a Kremlin document cited by Russian news agency TASS.

Putin has also ordered the Russian government to approve a move on changing Gazprom’s current contracts to reflect the change in the currency to the Russian ruble. This should be done “with supply volumes, prices and price formation principles stipulated by contracts maintained” by March 31, TASS reported.

Last week, Putin said that Russia would start charging the countries it considers “hostile” in rubles for its natural gas.

“I have taken a decision to switch to ruble payments for our natural gas supplies to the so-called hostile states, stop using the compromised currencies in such transactions,” Putin said.

Related: Rationing Looms As Diesel Crisis Goes Global

The Russian President—whose list of “hostile” states includes the United States, all EU member states, Switzerland, Canada, Norway, South Korea, Japan, and many others—has ordered the Bank of Russia, the central bank, to develop a system for payments in rubles within a week.

Commenting on Putin’s rubles-for-Russian-gas plan, the EU and leaders of the biggest economies in Europe said that changing the currency of the payments would be a breach of contract and that Europe would not be blackmailed into buying gas with rubles.

“There are fixed contracts everywhere, with the currency in which the deliveries are to be paid being part of these contracts... in most cases it says euros or dollars,” German Chancellor Olaf Scholz said last week. Italy’s Prime Minister Mario Draghi noted that “This is basically a breach of contract, this is important to understand.”

European Commission President Ursula von der Leyen said that “We will not allow our sanctions to be circumvented. The time when energy could be used to blackmail us is over.”

By Charles Kennedy for Oilprice.com


"And God said, Let us make man in our image …and let them have dominion …and all the creatures that move along the ground".
Genesis 1:26
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7544355
03/30/22 09:24 PM
03/30/22 09:24 PM
Joined: Jan 2014
Posts: 16,636
North East Kansas
Marty Offline
trapper
Marty  Offline
trapper

Joined: Jan 2014
Posts: 16,636
North East Kansas
let them be without....I believe that poland cancelled oil from russia today...

putin is going to stay in ukraine, I guarantee you that.

the way things are going we are looking at another great (er) depression in the next few years...all these sanctions and 'green energy' just helps that go forward.

jmo, ymmv




E
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7544402
03/30/22 10:15 PM
03/30/22 10:15 PM
Joined: May 2011
Posts: 12,958
Oakland, MS
yotetrapper30 Offline
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yotetrapper30  Offline
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Joined: May 2011
Posts: 12,958
Oakland, MS
When I see American democrats, American republicans and Europeans all holding hands with Ukraine and singing Kumbaya, it makes me VERY nervous. I feel many conservatives are finally taking the bait. Hook, line and sinker.


~~Proud Ultra MAGA~~
Re: you want our stuff, you pay us in the coin we want [Re: NonPCfed] #7544407
03/30/22 10:20 PM
03/30/22 10:20 PM
Joined: May 2010
Posts: 9,046
mn north of blakely
S
Steven 49er Offline
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Steven 49er  Offline
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S

Joined: May 2010
Posts: 9,046
mn north of blakely
Russia and china have been actively adding gold.

Unfettered money printing and artificially low interest rates have consequences.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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