Realist News (Jsnip4)

Full Version: DE-DOLLARIZATION ACCELERATES AS RUSSIA NEARS LAUNCH RUBLE-PRICED OlL TRADING
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Jim Sinclair called this an economic Nuke in 2014

It appears Russia is close to taking the next big step towards de-dollarization and killing the petro-dollar as VladimirPutin’s “dream” of ruble-based pricing of its domestically-produced oil is on the verge of realization. SPIMEX (The St. Petersburg International Mercantile Exchange) is actively courting international oil traders to join its emerging futures market, which as Bloomberg reports, is designed “to create a system where Russian oil is priced and traded in a fair and straightforward way.”

Step-by-step Russia, China and other emerging economies are taking measures to reduce their dependence on the US dollar, and as SputnikNews detailed, F. William Engdahl warns – referring to Russia’s crude oil benchmark initiative – this move could deal a dramatic blow to the “petrodollar’s” dominance.

Russia has taken a significant step which will undermine the current Wall Street oil price monopoly: Russia’s own crude oil benchmark futures contract will price oil in rubles and no longer in US dollars, American-German researcher, historian and strategic risk consultant F. William Engdahl remarks.
http://investmentwatchblog.com/de-dollar...e-in-2014/
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