MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘ruble’

European Sanctions Blown To Bits: Draghi Says “Most Gas Importers” Have Opened Ruble Accounts With Gazprom

Posted by M. C. on May 13, 2022

https://www.zerohedge.com/markets/european-sanctions-blown-bits-draghi-says-most-gas-importers-have-opened-ruble-accounts

Tyler Durden's Photo

BY TYLER DURDEN

Three weeks ago we reported that when faced with the actual, brutal consequences of its anti-Russian virtue signaling and harsh language, Europe’s fake united front promptly cracked crack as several European gas buyers quietly paid for supplies in rubles as Russia had demanded – in breach of Brussels sanctions – and we predicted that soon virtually everyone in Europe would follow in their footsteps and similarly bypass EU sanctions. Moments ago, one of the most powerful people in Europe – former Goldman partner and ECB head – Mario Draghi, confirmed just that.

Speaking during a press conference in Washington D.C. after his meeting with Joe Biden, Draghi said that European gas importers have already opened accounts in rubles with Gazprom.

The Italian PM was responding to a question asking if he is confident that Italy will be able to pay for gas without breaching sanctions and therefore gas flow to Italy won’t be affected.

“I’m actually quite confident, but for a silly reason. There is no official pronouncement of what it means to breach sanctions. Nobody ever said anything about whether rubles payments breach sanctions or not, how these payments are organized. So it’s such a gray zone here.”

Actually, it’s not a gray zone at all: on April 27, European Commission President Ursula von der Leyen specifically warned companies not to bend to Russia’s demands to pay for gas in rubles: “companies with such contracts should not accede to the Russian demands,” von der Leyen said. “This would be a breach of the sanctions so a high risk for the companies.”

In other words, Draghi is either completely unaware of the current realty over the hottest topic in the world today, or is blatantly lying, and in the process demonstrating that the entire “united European front” against Putin is one giant farcical facade.

See the rest here

Be seeing you

Posted in Uncategorized | Tagged: , , | Leave a Comment »

The Western World Has Had Its Run

Posted by M. C. on March 30, 2022

Paul Craig Roberts

Lots of startling changes yesterday.  Russia announced, apparently, a gold-backed or gold-related ruble.  I haven’t had time to think about all the implications.  Information is hard to come by, because the US blocks Russian news in order to control the Ukraine narrative and war propaganda.  The Bretton Woods system collapsed when the West seized Russian central bank reserves, and it seems that the gold ruble adds to the end of the US dollar as world reserve currency under Bretton Woods.  The implications could be vast, and the Washington idiots might very well wish they had left the Russians alone.  I told them over and over that Russia had had enough of them, but the arrogant idiots didn’t listen.  The sanctions, it seems, have brought about regime change in the West, reducing its power and influence.

Another big development is that apparently Ukraine has agreed to be a neutral country, no NATO, no foreign bases, no nuclear weapons, and accepts eastern Ukraine gong its own way.  We will see if US puppet Zelensky is permitted to sign what Ukraine has agreed.  Meanwhile, Russia has stopped its assault on Kiev, and is focused on clearing the remaining Nazi militias out of the Donbass region.  I think the low-intelligence governments in Poland and Romania will get the message, and the US missile bases in those countries will be closed before too long.

These are major developments with many large implications.  The World Economic Forum’s “reset” has likely been replaced by a Russian-Chinese reset. 

The US ran on arrogance for so long that it has hollowed itself out.  The Western world’s fate is unclear.  It seems no one in intellectual, business, or political leadership positions believes in freedom and civil liberty.  The US certainly is busy at work cancelling itself:  https://www.smithsonianmag.com/smart-news/more-than-600-places-in-the-us-will-remove-racist-slur-from-their-names-180979733/?utm_source=smithsoniandaily&utm_medium=email&utm_campaign=20220328-daily-responsive&spMailingID=46610751&spUserID=NzQwNDU0NzQ5NDMS1&spJobID=2203110357&spReportId=MjIwMzExMDM1NwS2 

Present generations of Americans will not recognize their country.  Rivers, mountains, streets, schools, public spaces, even towns  are losing their names and acquiring new politically correct names.  Normally, this is what outside conquerors do to a country, but we are doing it to ourselves.  A country that destroys its own monuments and history is lost.

My conclusion is that the days of the West are over.  The West is drowning in accumulated mistakes and degeneracy.  The moral fiber in the leadership ranks is gone.

Be seeing you

Posted in Uncategorized | Tagged: , , | Leave a Comment »

#GotGoldorRubles? Russia Just Broke the Back of the West

Posted by M. C. on March 29, 2022

Instead of using physical men to subjugate the locals through superior weaponry and bribes to get them to extract the mineral wealth which the colonialists take back home, today we use the post-WWII institutions to run that same system through debt issuance for capex and the interest payments (in this case pure economic rent – unearned wealth).

Author: Tom Luongo

I don’t think everyone has yet caught the significance of Russia announcing they are putting a floor under the price of gold.  But, to be clear, Russia just broke the paper gold suppression scheme.

On Friday the Bank of Russia announced:

RUB5000 to the ounce at an exchange rate of 100 RUB/USD implies a $1550 per ounce gold price.

For a few days previous to this announcement, which they knew was coming, The West was running around with multiple bits of legislation to try and keep the Russians from selling their gold.

The G7 think the sanctions are hitting so hard that Putin will be forced to sell his gold to evade sanctions to pay for things.  They are literally running a script in their heads that is not actually playing out in the real world.

But, whatever, Neocons never met an ugly stick that they didn’t want to use to beat someone over the head with.  Too bad all they’re doing is hitting a rubber tire.

Boing!

Because here’s the gig, Russia won’t be selling any gold. They’re buying it.

See the rest here

Be seeing you

Posted in Uncategorized | Tagged: , , | Leave a Comment »

The Real Reason the Deep State Hates Russia… What it Means for Gold

Posted by M. C. on June 27, 2019

What do all the countries Washington wants to go to war with have in common? Not terrorism, oil.

What Washington doesn’t like is that these countries are developing alternatives to paying for oil in dollars. Gold backed alternatives.

Once the world bails on the dollar the dollar sinks like a rock.

The US position is a familiar one. Let US win your hearts and minds or we will burn your village down. The US can never seem to make that strategy work.

https://internationalman.com/articles/the-real-reason-the-deep-state-hates-russia-and-what-it-means-for-gold/

by International Man

For years, the Deep State in the US—the permanently entrenched bureaucracy that runs the show no matter which party is in power—has labelled Russia “public enemy number one.”

To help us better understand the situation we’re turning to Doug Casey’s friend, Mark Gould.

Mark is an executive for a company in the oil industry, also working on several media projects. He also has 30 years of experience in Russian telecommunications as co-founder of CTC Media (previously NASDAQ:CTCM); and afterwards pioneering digital compression for TV (the core technology for video streaming) on the Soviet Satellite system, Moscow Global. Mark currently lives in Moscow.

International Man: Naturally, Americans have a lot of misconceptions about Russia. And that’s what we want to help clear up today. The importance of Russia to world affairs is simply too important to ignore or to not understand properly.

Also, this perception gap about Russia could be key to finding interesting investment opportunities—particularly in the natural resources space—that are off the radar of the mainstream financial media.

John McCain used to call Russia a gas station masquerading as a country. This is a childish and overly simplistic characterization. Others in the US media and government have made similar comments. What does the mainstream image of Russia get wrong?

Mark Gould: The US perspective is stuck in the 1960s and even earlier, going back to the 19th century.

Russia is a unique society. It’s a normal place, operating under its own rules and customs. Viewing it through the prism of the Soviet past is not concurrent with present realities. Russia is an independent state that has its own concerns, people, leaders, and problems just like America does. And the people are patriotic and so is the president.

Russia is charting its own path. It doesn’t want to be under the thumb of the IMF or the World Bank…

If you go back in history a little bit, you can get the Russian perspective on gold.

The Russian ruble has always been backed by gold. It’s not a new idea. And Russia has more reserves in gold that backs the currency than almost any other country.

Russia is also the world’s largest producer of oil; it’s the second largest producer of natural gas; it’s number two in sunflower oil.

Kicking Russia out of SWIFT or doing anything like that would be basically cutting off your nose to spite your own face. The US government would be complete idiots to do that.

Money is an idea backed by confidence, and gold has held that for many years for many people and for many countries.

Russia is hedging its bets. It’s building its own trade alliances. For example, recently Russia signed a deal with Huawei, the Chinese company that’s been banned from American markets.

International Man: Russia has been building alternatives to Western-dominated systems. This includes measures to protect itself from sanctions involving the US financial system, an alternative to the SWIFT system, alternative trade deals with other BRICS countries, the Eurasian Economic Union, and integration with China’s New Silk Road program. Where do you see this trend going?

Mark Gould: Well I think it’s going to continue.

Russia is building alliances; who doesn’t? To expect Russia not to look after its own economic self-interest is absurd. It’s the same thing the US or the UK or France or Indonesia do…

Be seeing you

wp-1502576056369.

 

 

Posted in Uncategorized | Tagged: , , , , | Leave a Comment »