Russia to go with the Euro?

Putin's jockeying Russia right into position to be favored by not just the EU, but the OIC.
Here's an update on Russia and the OIC:

Southeast Asia

Russia plays its hand in the OIC
By Anil Netto

PENANG, Malaysia - The presence of Russian President Vladimir Putin at the ongoing summit of the 57-member-nation Organization of Islamic Conference (OIC) near Kuala Lumpur is likely to raise eyebrows in Washington. It marks a coup of sorts for Putin and could realign the power balance in the Islamic world, which has become increasingly suspicious of US hegemony.

Full article:
www.atimes.com...

Russia to join anti-dollar game
October 22, 2003 Posted: 10:57 Moscow time (06:57 GMT)
MOSCOW - Russia plans to cut the share of US dollars in its reserves and increase the share of euros, Senior Deputy Finance Minister Alexey Ulyukayev said on Tuesday. According to him, the necessity of this measure is connected with the important role of the European market for the Russian economy and with the weakening of the American currency on the international market. The percentage of dollars in the currency reserves will be reduced by 3-5 percent, and the share of euro reserves will be increased by the same amount, Mr. Ulyukayev told the Bloomberg agency.

The whole article: www.russiajournal.com...

So wha do y'all think about Putin's jailing of Russian oil tycoon (and political rival) Mikhail Khodorkovsky? Is this Russian billionaire pro or anti Euro, i wonder. I know he made his money by buying Russian state assets in the privitization boom of the early 90's for pennies on the dollar.

I agree with most of the sentiments here that EU and Russian and possibly China's change to the Euro as the oil fiat, is something to watch. Don't the Rockefeller cronies know that they're grasping at straws...peak oil can only satify demand for maybe another generation, tops? The future is GREEN, sadly by default.

Originally posted by initiation
So wha do y'all think about Putin's jailing of Russian oil tycoon (and political rival) Mikhail Khodorkovsky? Is this Russian billionaire pro or anti Euro, i wonder. I know he made his money by buying Russian state assets in the privitization boom of the early 90's for pennies on the dollar.

I agree with most of the sentiments here that EU and Russian and possibly China's change to the Euro as the oil fiat, is something to watch. Don't the Rockefeller cronies know that they're grasping at straws...peak oil can only satify demand for maybe another generation, tops? The future is GREEN, sadly by default.

The problem is simple, the oil barons are trying to hold onto power as long as they can, at everyone else's expense.

hey lookie there I told you it would happen...could you imagine the whole asia and europe agiasnt the ever powerful United States of America? I hope I don't live that long

Originally posted by initiation
The future is GREEN, sadly by default.

I'd agree, but not for another 50 years. Lots of time to screw things up.

I think it was a matter of time before an oligarch went down. It may have a short-term effect of pulling the euro down and hurting the Russian markets, but in the long run such a manuver should bode well for the euro and the long term economic security of Russia.

I would think that Putin will try and let Gazprom take control of the suspected fields, which has already been buying euros for two years.

1:chavez is an animal.
2:now i think of it, opec has to change it's currency to the euro sometime right? it could be a plan in progress by the EU:@@a bit late for them....but still, look how high the EURO's risen over the past year, it DID rival the dollar...i know it's more than a dollar now)
3:back to my first point made....why is he an animal?? has any1 read some articles based on his promises to the country, has any1 seen the protest marches against him recently, what about the one that happened this feb.(over 500thousand protestors marched thru the streets(if my memory serves me right).
chavez is not good news for any1, he could be next on the U.S'es hitlist, for now theories can be confronted savagely, but more importantly these theories must be contemplated in every form and manner, untill the ultimate solution is found and the truth is recognized for whatever crude form it states itself as in this misleading political era we've been cursed with.

Originally posted by Cyrus
1:chavez is an animal.
2:now i think of it, opec has to change it's currency to the euro sometime right? it could be a plan in progress by the EU:@@

a bit late for them....but still, look how high the EURO's risen over the past year, it DID rival the dollar...i know it's more than a dollar now)
3:back to my first point made....why is he an animal?? has any1 read some articles based on his promises to the country, has any1 seen the protest marches against him recently, what about the one that happened this feb.(over 500thousand protestors marched thru the streets(if my memory serves me right).
chavez is not good news for any1, he could be next on the U.S'es hitlist, for now theories can be confronted savagely, but more importantly these theories must be contemplated in every form and manner, untill the ultimate solution is found and the truth is recognized for whatever crude form it states itself as in this misleading political era we've been cursed with.

Cyrus, contemplate this: The CIA has been working overtime to foment an overthrow of Chavez' government. It was they who were behind the big attempted cous awhile back. Chavez is not playing ball with the U.S. and we all know what happens when that's the case. In the Army we used call it getting screwed without a kiss.

Here's some more bad news concerning the dollar vs. the Euro. It's looking better and better for certain countries to switch their oil-trading currencies to the Euro. The US economy will sink like the titanic if OPEC switches.




Dollar Heads for Biggest Weekly Loss Against Euro in Six Months
Nov. 14 (Bloomberg) -- The dollar fell against the euro, headed for its biggest weekly loss in six months, after Europe's economy returned to growth and the Federal Reserve signaled it won't raise interest rates in coming months.

The European Union said gross domestic product in the euro region rose 0.4 percent last quarter, from a contraction in the preceding three months. Anthony Santomero, president of the Federal Reserve Bank of Philadelphia, said policy makers have room to keep interest rates at current levels in coming months because there's little inflation.

The U.S. currency failed to rally even after an industry report showed consumer-sentiment rose to the highest in more than a year. It fell to $1.1788 at 10:58 a.m. from $1.1734 yesterday. For the week, it dropped 2.1 percent, the biggest rise since the week ended May 9. Versus the yen, the dollar traded at 108.21 yen per dollar, from 108.11 yesterday and 109.39 last Friday.

``The message from the Fed is that rates will stay lower for a longer period of time,'' said Steven Englander, chief foreign- exchange strategist at Barclays Capital Inc. in New York. ``Even though we're seeing some strong numbers come out of the U.S., that doesn't necessarily translate into a better rate of return.''

St. Louis Federal Reserve President William Poole said in an interview yesterday that rates may be kept low ``well beyond March.''

``The interest-rate situation doesn't favor the U.S. right now,'' said Enrico Caruso, chief trader at Tempest Asset Management in Irvine, California.

The dollar continued to decline even after the University of Michigan said its consumer-sentiment index rose to 93.5 in November from 89.6 in October. The median forecast of 55 economists surveyed by Bloomberg News was for a reading of 91.4.

The rest: quote.bloomberg.com... glA0QLcSU&refer=top_world_news

Russia's oil giant Yukos appoints new head.

news.bbc.co.uk...

Not only does this guy hold US citizenship but so do two other members of his 7 man board.

Originally posted by Leveller
Not only does this guy hold US citizenship but so do two other members of his 7 man board.

Yes, this is interesting. Very interesting. Did you hear that Lord Rothschild has been put in charge of Khodaokovsky's monetary holdings? This was decided upon some time ago - before his arrest.

there are very dark hands at work here. To understand Venezuela you have to look at our policies towards these smaller nations--> Look at them through an economic lens only. Throw the humanitarian lens out.

Chavez promised to give the land back to the people, and that's just what he has been doing, throwing out the corporate conglomerates and giving small people a chance at a life. His decision to trade for oil with euros certainly hasn't helped him much, don't forget that Saddam had also just made this switch a few months before the invasion of Iraq.

Putin gets my top-politician award. He has stalemated the U.S. in the drive for the Caspian Sea Oil. The arrest was a huge blocking manoever. The way that Sharon ran to him to try and change the situation shows how important this move was. The way that Bush is now trying to formulate a quick exit strategy shows that something else has hit their radar.

interesting stuff!


[Edited on 14-11-2003 by dexxy]

Originally posted by dexxy
there are very dark hands at work here. To understand Venezuela you have to look at our policies towards these smaller nations--> Look at them through an economic lens only. Throw the humanitarian lens out.

Chavez promised to give the land back to the people, and that's just what he has been doing, throwing out the corporate conglomerates and giving small people a chance at a life. His decision to trade for oil with euros certainly hasn't helped him much, don't forget that Saddam had also just made this switch a few months before the invasion of Iraq.



[Edited on 14-11-2003 by dexxy]

Yes, you're right. Chavez has taken a lot of heat because he has refused to play ball with the US and the IMF. It's been proven the CIA has been behind the failed attempts to oust Chavez. He knows full-well how acutely trading in Euros would hurt the US. I don't feel too good about the US economy. I fear its getting close to collapse. That is the crux of this thread. I wonder how many folks out there have ever considered that there are plenty more ways to wage war than just blowing things up from big, bomb-laden aircraft. There's always economic warfare. It is equally devastating.

I have a fundamental problem with this. The US economy has the largest consumer base in the world. If our economy goes down, Europe looses a customer, plain and simple. They need us whether they like it or not. If we tank, they tank too.

Originally posted by EastCoastKid
The shyte's gonna hit the fan soon. BushCo. probly figured by securing Iraq and (trying to) topple Chavez in Venezuela they could stave off this impending disaster. And Russia going with the Euro is proof they are no friend of the United States.

Since whe did Russia become a friend to USA?

Originally posted by Russian

Since whe did Russia become a friend to USA?

Never, americans just assume things.

Hell yes, the US economy crashing is going to hurt the world. That's why the other economic zones are scrambling to distance themselves from the N.A. markets and why the euro looks so good.

Here is a good place to go for economic 'reality', with a few jokes in there too!

www.dailyreckoning.com...

The European Union - coupled with Russia - will do fine without the USA. Americans have an extremely difficult time with the idea that someone else might just kick our azz one of these days. OPEC will be their ace in the sleeve.

EVERY EMPIRE FALLS.

The dollar keeps falling against the Euro. How long will it take for OPEC members to cash out and make the big switch in their trading currency? Are they waiting for the U.S. to pull the bulk of its troops out of Iraq? They have to know as long as Bush controls Iraq and our troops are there, the U.S. would retaliate militarily if they switched. Here is an article discussing the bad news:



The US dollar has fallen to an all-time low against the euro, amid fears over trade wars and reluctance by foreigners to finance the US trade deficit.
At its lowest point at 0100 GMT on Wednesday, one euro bought $1.1978.

The dollar also neared a new three-year low against the yen, with one dollar worth just 107.94 yen.

The dollar's fall against most leading currencies - including the pound - started when data showed a huge slump in foreign money coming into the US.

News that the US Government was planning to introduce more punitive tariffs, this time on a range of textiles and lingerie products manufactured in China, triggered fears about a return to protectionism and the impact that this might have on the recent recovery in the US economy.
The rest:
news.bbc.co.uk...

this is probably just coincidence but i was on a board where i read something about this same subject, and a day later i cant log on to it because it has billing problems?