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originally posted by: Merinda
China wont side with Russia over America. Friendly relations to America have been VERY good for China. Do you think they growth they experience is despite America and the rest of Nato?
China is also extremly hungry for resources. Yes, Putin dreams of dethroning the Petrodollar and probably some other countries do as well, but he simply does not control enough resources to do so. He can sell his own oil for Gold, but it does not mean that other countries will follow suit.
I think its very probable that China bought up oil from Russia bypassing the Dollar at the insistment of Russia with the blessing of the US, whom recognized that Chinas need for energy outweighs Russia landing a blow against the petrodollar with its own resources, unable though to exacerbate on it.
Uzbekistan, Tajikistan and Kyrgyzstan
the United States planned to provide $90 million for four projects aimed at improving the safety and security of Russia's existing nuclear weapons; (4) the United States has shifted priorities toward dismantling nuclear weapon delivery vehicles and supporting Russian efforts for a proposed fissile material storage facility
The American response was the Cooperative Threat Reduction program of 1992. The U.S. provided money and expertise to lock down and track weapons of mass destruction and make sure they stayed out of the hands of rogue regimes or terrorists.
One dam B-1 could have stopped that invasion since Putin was dumb enough
His actions this past year in Ukraine have been a calculated defiance of the American-sponsored international order
That usually means tacitly accepting U.S. hegemony and U.S.-sustained international rules of the game, and to that, Putin cannot reconcile himself.
We should have smashed Russia's pathetic army when we had the chance
originally posted by: Xcathdra
a reply to: spy66
China wont jeopardize their economy.
As for meddling China has a strict don't mess with out internal affairs doctrine. China wont violate their own doctrine as it opens the door for the same to themselves.
Russia now has a debt of over 600 billion since the sanctions and are now dipping into their reserve holdings and selling gold. If China completely supported Russia then they would not have been neutral in the UN regarding Ukraine and crimea.
What China is now seeing is Russia going down the tubes, placing China into a far stronger position to control their neighbor to their own advantage.
China knows this...
Russia is clueless about it...
originally posted by: intrptr
a reply to: BornAgainAlien
No matter how strange it may seem, but right now, Putin is selling Russian oil and gas only for physical gold.
Qaddafi was threatening to do this , too.
It threatens US Petro Dollar Hegemony. Bottom line folks, its about oil and the quoting of that oil in American dollars (Petro dollars)
originally posted by: Xcathdra
China is not going to attack the US and I seriously doubt they would assist Russia should Putin go any more stupid and start a war.
The Chinese have refused to support Russia over Crimea and are not going to risk their nation over Putin.
In addition to the United States petrodollar, a petrodollar can also refer to the Canadian dollar in transactions that involve the sale of Canadian oil to other nations. In this sense, the term petrodollar is related to but should not be confused with petrocurrency which refers to the actual national currency of each petroleum exporting country.
Petrocurrency is a neologism used with three distinct meanings, though often confused:
1.Trading surpluses of oil producing nations, originally called petrodollars
2.Currencies of oil producing nations which tend to rise in value against other currencies when the price of oil rises (and fall when it falls).
3.Currencies used as a unit of account to price oil in the international market.
Currencies correlated with oil prices
The pound sterling has sometimes been regarded as a petrocurrency as a result of North Sea oil exports.
The Dutch guilder was regarded as a petrocurrency due to its large quantities of natural gas and North Sea oil exports. This caused the Dutch Guilder to strengthen severely in the 1970s when the OPEC started their price hikes. As a result of this strengthening, industrial manufacturing and services were crowded out and became non-competitive on world markets, a phenomenon that is often referred to in economics literature as Dutch disease.
The Canadian dollar is increasingly viewed as a petrocurrency. As the price of oil rises, oil-related export revenues rise, and thus constitute a larger component of Canadian exports. Thus, movements of the Canadian dollar have become increasingly correlated with the price of oil. For example, the exchange rate of Canadian dollars for Japanese yen (99% of Japan's oil is imported) is 85% correlated with crude prices.
Currencies used to trade oil
Since the agreements of 1971 and 1973, OPEC oil is exclusively quoted in US dollars. This created a permanent demand for dollars on the international exchange markets. As of 2005, OPEC continues to trade in US Dollars, but some OPEC members (such as Iran and Venezuela) have been pushing for a switch to the euro.
Since the beginning of 2003, Iran has required euro in payment of exports toward Asia and Europe. The government opened an Iranian Oil Bourse on the free trade zone on the island of Kish, for the express purpose of trading oil priced in other currencies, including euros.
Currency substitution occurs when the inhabitants of a country use a foreign currency in parallel to or instead of the domestic currency.
The major currencies used as substitutes are:
* - The United States dollar
* - The Euro
* - The New Zealand dollar
* - The Swiss franc
* - The Indian rupee
* - The Australian dollar
* - The Armenian dram
* - The Turkish lira
* - The Israeli shekel
*- The Russian ruble
originally posted by: intrptr
a reply to: mbkennel
I've heard this repeated over and over. It's a bunch of nonsensical BS. As in ``it doesn't matter''.
Right, "Petro" in Petro dollars is euphemism for "US" dollars. Always has been a cover up in plain sight.
Like your "doesn't matter" post…
originally posted by: Echtelion
Don't be silly OP... You know it is NATO that's been pushing hard eastwards and also down south since the early '90s to land-grab whatever they can. It was all in Brezinski's "The Grand Chessboard" and the plan was to take over the entire Eurasia.
A quick proof of this out in the open... compare a map of NATO members and partners today, with what it was in 1992.
the Western push towards the East has met a strong resistance. Perhaps it will be the downfall of the West.