Friday, 2 January 2015

Max Keiser: Russia is off the Petrodollar !!

May 22, 2014. Source: The Event Chronicle

Russia has just dropped another bombshell, announcing not only the de-coupling of its trade from the Petrodollar, but also that its hydrocarbon trade will in the future be carried out in rubles and local currencies of its trading partners – no longer in dollars – Russia’s trade in hydrocarbons amounts to about a trillion dollars per year. Other countries, especially the BRICS and BRICS-associates BRICSA may soon follow suit and join forces with Russia, abandoning the ‘petro-dollar’ as trading unit for oil and gas. This could amount to tens of trillions in loss for demand of petro-dollars per year (US GDP about 17 trillion dollars) – leaving an important dent in the US economy would be an understatement.

Added to this is the declaration today by Russia’s PressTV – China will re-open the old Silk Road as a new trading route linking Germany, Russia and China, allowing to connect and develop new markets along the road, especially in Central Asia, where this new project will bring economic and political stability, and in Western China provinces,where “New Areas” of development will be created. The first one will be the Lanzhou New Area in China’s Northwestern Gansu Province, one of China’s poorest regions.

Down with the dollar, petrodollar on the rise! - Max Keiser is in the NOW

Published on May 21, 2014

A huge gas deal between Russia and China has finally been signed after a decade of haggling and negotiating. Max Keiser says this means a historic change.

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