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Russia Announces Decoupling Trade From Dollar

Will the Russian deCoupling from the Petrodollar hurt the US economy?

  • Total voters
    19
  • Poll closed .
DaveFagan said:
Russia Announces Decoupling Trade From Dollar
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I wish I read the article before voting. We're in trouble. If it were just Russia, I'd say no. If Russia gets China and Western Europe to join them in rewriting the global trade model leaving the US dollar out of the picture, heck yes we're in trouble.


One thing we have going for us, is our ability to come up with new innovations. We need to supercharge our drive to innovate. I think part is giving statutorily guaranteed minimum percentage points on patent royalties so that our nation's brainiacs will have greater incentive to create new life-changing products and concepts and not be concerned that the stock holders of the company for which they work will own their billion dollar idea leaving them with nothing but a nominal paycheck and maybe a pay cut. If the incentive to create jobs is allowing the job creators to keep more of the wealth they build, its only logical and fair to say the incentive to create breakthrough products and ideas is allowing the inventors to keep more of the wealth build too.

I think some sort of international system of punitive action needs to be built into global trade. If a country steals our or anybody else' intellectual property, they pay through the nose. Maybe require trading partners to put up security deposits that are forfeited if they steal patented products or forfeit loan repayments, etc.

I think there are a few next big things out there I hope Americans will be the first to figure out.

1. A new super-cheap method of desalinizing huge amounts of sea-water.
2. A breakthrough in inexpensively harvesting hydrogen energy.
3. A breakthrough in solar electric technology. The present technology only utilizes a small spectrum of sunlight to create electricity. Last I heard a European research team were only one discovery away from increasing the efficiency of solar electric panels by 500%. This means almost everyone everywhere could generate enough electricity to run their homes most of the time while creating hundreds tens of millions of jobs. I hope we beat the Europeans to it.
4. Inexpensively creating super-strong lightweight composite material that could cheaply replace steel and other metals used in manufacturing, from automobiles to shipping to machinery to building construction.
 

Saying the OP doesn't 'not constitute proof' is mealy mouthed way of avoiding saying: It hasn't happened. At all. Also no it really wouldn't. It wouldn't threaten the dollar as the global reserve currency, it would be highly impractical for Russia, and far more damaging to them than to us. I once again *Yawn*.
 

Uhh... That is like... the most gigantic of undertakings. No one is contemplating that at present. Even at the height of discontent over the dollar as the global reserve currency in the 2000's it was just a thought passed around. In the current economic climate no one is seriously talking about it. We can stop that train of thinking pretty much right there to be frank.
 

You really struck a nerve here. I am an inventor and a patent holder. The system seems fair but if one managed a breakthrough energy invention, the Corporate status quo will tie you up until your patent expires. The system has been gamed by Big Old Money and most citizens don't know. You can't get shelf space (markets) without dealing with the status quo and it can become a double edged trap. As for deCoupling from the dollar, Russia would do enough small steps to make the threat real and then offer to stop in return for some prid pro quo. The citizens wouldn't be informed because they might suddenly realize the fragility of their economy.
 
mbig said:
This string is another Goofy Joke by the OP.
Noxious oversize Fonts added for extra insanity by him and conspiracy site infoclearinghouse.
(Dow Jones higher yesterday and today)

btw...
"Russia is a Gas Station masquerading as a country".
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The US Dollar was down yesterday and today.
 
DaveFagan said:
The US Dollar was down yesterday and today.
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The dollar edged down only slightly as world stock markets rose because the appetite for risk increased a bit/World economic scenario improved slightly.
If the dollar was going to crash on this story, the Dow would have been down Thousands of points not up a total of 200 yesterday and today. (+136 so far today)

Your posts, especially the wacky polls, are always Jokes.

[/derision]
 

And your links to unbiased, factual proof of what you are saying is...? All I have seen from you is a lot of matter-of-fact talk from some faceless nobody on a chat forum with ZERO proof to back it up.

At least I had the good sense to say 'IMO'.
 
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joko104 said:
The USA could shatter Russia's economy, but we have a president and advisors who haven't a clue what to do and are afraid to try.
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Russia's economy is already shattered. Its a highly corrupt nation on a long term decline that attracts little investment due to its corruption.
 
Aren't we lucky we elected such an EXPERIENCED and capable president to lead us through these perilous times?

I'm sure Obama's response will be swift, decisive, and effective. Lol, I almost said all that with a straight face. We're screwed until 2016.
 


Interesting. So 'no one is contemplating' it?

So, then I guess you have found a way to know the thoughts of every human being on the planet...because if you haven't, then you have NO WAY of being able to back up your statement.

Advice, if you want to be taken seriously, you should not presuppose to factually speak for everyone on the planet.
 

Yeah... anyways. If we really have to do this I'll graciously rephrase: No one who matters is seriously considering it. What happens on the pages of Voice of Russia, Zero Hedge Fund, or the much vaunted Center for Globalization Research is another matter. At present virtually everyone has a vested interest in trading in dollars and ensuring it remains a valued currency. Including Russia.
 
According to some articles on the subject, it depends on how far it goes. If Russia gets cut off from the E.U., they could respond by cutting off gas and oil exports.


Sanctions Against Russia Could Cause a Global Recession, Ukraine | New Republic

Russia, China cloud brightening world economy
 


Cool. I might hit you up one day on how to get something patented. Its all seems so confusing.


I'm all for big corporations playing a role, even a big role. I just realized not everyone but a lot of people will do just about anything that's in their advantage if they can "get away with it." To heck with doing what right unless they have to by law and even then...
 

Again, you have no way of knowing what anyone 'who matters is seriously considering'.

Hey, it's no skin off of my nose if you want to make completely unprovable statements...knock yourself out. Just don't be surprised if some don't take your views seriously as a result.


The fact is neither you nor I has ANY way to know what ALL those who 'matter' are contemplating.

My point is that, IMO, to infer that America has nothing to worry about (hence your yawn) in this regard is naive.

You disagree...I don't much care. Especially if you have ZERO unbiased, factual proof to back it up.

Get some and I might.


Good day.
 

The EU collectively gets roughly 10% of its gas from Russia. It has the ability to diversify its sources in a crunch and has innumerable avenues to do so. The West also has far, far, far deeper pockets than Moscow and can subsidize its way through a crisis. Russia would be far more severely affected. It would deal enormous damage to an already decrepit oil and gas industry and shut off an extremely vital source of cash while they worked to establish alternative markets.
 

Lol. I'm sorry this makes you so upset. But neither the EU, nor China, nor anyone else that matters is contemplating a grand strategy and series of measures to overturn the dollar as the global reserve currency. Sorry!

PS: If you need a citation for that you've probably gone too far down the rabbit hole.

Edit: Though this very brief exchange might serve as a useful primer for you: http://economix.blogs.nytimes.com/2...-reserve-currency/?_php=true&_type=blogs&_r=0
 

If Russia commits economic suicide then yes, the world economy would suffer too. But the long term loser is Russia.

A primary reason Russia took Crimea from Ukraine is the 10 trillion cubic feet of natural gas off Crimea's coast. If Crimea leased that out the loser would be Russia and it would end Euro dependency on Russia - and if that had happened Russia's economy would have been completely trashed.
 

According to the article, "In 2010, more than 30 percent of the E.U.’s oil and natural gas came from Russia."

Argue with the reporting of those articles, not me.
 



you were asked for a link to the alleged theft. Instead you prattle on with more imaginary bull**** and post a link to a blog about Russia's debt?

Please, with unsubstantiated garbage like that, persist in the asinine practice of claiming everyone else is lying,.....

We know who's lying, it's obvious.
 

The Russian people are used to living on less and would probably survive. Plus they're kind of crazy. I wouldn't play chicken with them too much.
 


:lamo OK, now it makes sense. You came up with some gizmo and thought you'd make a gzillion dollars. But no one wanted whatever it is and therefore there must be some vast corporate-banking-US government conspiracy against you - for which you hate America and everything about it - and think you could make a deal with Putin. :2razz:

But tell us, if there is a stick of truth to it, want did you invent and patent? Since you patented it you can go ahead and tell us.
 

Do you just make these figures up?

'In 2007, 38.7% of the European Union's natural gas total imports and 24.3% of consumed natural gas originated from Russia.'

Russia in the European energy sector - Wikipedia, the free encyclopedia

Russia: a key natural gas supplier | Gas In Focus
 

You are going to have to supply a credible link to that.

First, I have never seen the 10% figure anywhere, while most reports have the oil and gas trade at 30%.

further, I doubt "the west" has deeper pockets, the EU is a large economy, but I seem to recall some banking and debt issues, and the US economy is anything but hale. At $18 trillion and growing, the issue of comparative debt is kind of moot.

These issues are what is termed "trade inconvenience", petty stuff, which the US LOVES.

In the grand scheme of things, Russia had had a peace time economy and a growing one since the 90's, while the US has been involved in endless and costly wars, the opposite of the last cold war.....

I would say the advantage is Russia's
 
grip said:
The Russian people are used to living on less and would probably survive. Plus they're kind of crazy. I wouldn't play chicken with them too much.
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It is accurate that most country's citizens can withstand more economic shock - since they are basically in constant personal economics desperation anyway.

What was learned in the breakup of the USSR is that they were far, far more afraid of us than we were of them. A foreign policy cannot be based upon fear that the other side will totally destroy itself just to try to get to you. The FEAR of nuclear attack by Russia is a WORTHLESS fear. They no more want to die than anyone else. Foreign policy is a combination of playing chicken and poker. The fact is the USA holds an overwhelming superior hand and has no reason to fold.

Russia seizing Crimea increased their long term extortion of Europe via seizing Crimea's offshore natural gas. This also affects us too. Those who claim Russia seizing Crimea has no significance to us are wrong.
 
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