The Rumor Mill News Reading Room There's a Way for Russia to Break the Petrodollar. Now's the Time to Do It Posted By: IZA...
The Rumor Mill News Reading Room
There's a Way for Russia to Break the Petrodollar. Now's the Time to Do It
Posted By: IZAKOVIC
Date: Wednesday, 31-Dec-2014 09:14:39
-Organize a cartel of oil producers
-Denominate sales in rubles, yuan
-Dollar is no longer a good store of value
-With more gold backing ruble, yuan can be
Alastair Crooke (The Huffington Post - Excerpt)
This is an excerpt from an article that originally appeared at The Huffington Post
A profound transformation of the global monetary system is underway.
It is being driven by a perfect storm: the need for Russia and Iran to escape Western sanctions, the low interest rate policy of the U.S. Federal Reserve to keep the American economy afloat and the increasing demand for Middle East oil by China.
More:
http://russia-insider.com/en/2015/12/30/2180
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IZAKOVIC
