I have been warning about this for a long time, and I am shocked this isn’t the only thing we are talking about right now.
The petrodollar system has effectively just collapsed with Vladimir Putin’s recent announcement that hostile nations will have to pay for Russian energy in Russian Rubles.
This decades old system has essentially been upended with this announcement, as no serious challenge to the U.S. Dollar’s dominance of the oil trade has ever been successfully issued.
A demise of the Dollar as the global reserve currency is further compounded by reports of nations like Saudi Arabia mulling over pricing oil in Chinese Yuan, as opposed to a now overprinted and ailing Dollar.
Critics of Putin will no doubt say that this recent announcement will have no impact on the price of the Ruble, or the future of the U.S. Dollar, but if this were true the price of the Ruble would not have recently retraced to pre-war levels…
So far, many of the G7 nations have outright denied Putin’s request, but as I stated earlier this is a bold move that will likely embolden others to follow suit, and to issue their own challenges to U.S. Dollar supremacy in energy trade.
All of this isn’t even considering the profound and revolutionary effect of cryptocurrencies and digital assets in global trade moving forward.
Stolen elections and rampant money printing have very real and very serious consequences—just take a look:
Russia is requiring all oil and gas sales be settled in Rubles by 4/1
The US tried economic warfare with sanctions and Putin responded “nyet, two can play at this game”
The $ will die unless the US relents. This is the biggest story in the world & hardly anyone knows about it
— Liberty Lockdown w/ Clint Russell (@LibertyLockPod) March 31, 2022
Analysts think Russian President Vladimir Putin’s decision to demand payments for natural gas in rubles is unlikely to have a big impact on the country’s currency, explains @ahirtens #WSJWhatsNow https://t.co/bLsaqZJobF pic.twitter.com/VypNuKkL7F
— The Wall Street Journal (@WSJ) April 1, 2022
The Epoch Times reports:
“In order to purchase Russian natural gas, they must open ruble accounts in Russian banks. It is from these accounts that payments will be made for gas delivered starting from tomorrow,” Putin said in televised remarks.
“If such payments are not made, we will consider this a default on the part of buyers, with all the ensuing consequences. Nobody sells us anything for free, and we are not going to do charity either … that is, existing contracts will be stopped.”
The EU verbally refused to pay for gas in rubles, as Putin demanded, but in fact began to quietly buy up rubles, which resulted in the strengthening of the Russian currency by 21% in just a few days. The EU is circumventing the sanctions that it itself imposed. pic.twitter.com/ZWEtE83gXf
— StranNik142857 (@StranNik142857) March 30, 2022
PUTIN: All gas contracts with “unfriendly countries” must be paid in Rubles starting April 1st. Failure to pay in Rubles will result in the gas being shut off.
“We are not going to be involved in charity…” pic.twitter.com/JYDPtdaahQ
— Election Wizard 🇺🇸 (@ElectionWiz) March 31, 2022
The Wall Street Journal states that the Russian Ruble has retraced its lost value to pre-war levels:
The Russian ruble strengthened close to its preinvasion level against the dollar Thursday—a byproduct of the central bank’s tight control over the currency. Also at play, a possible surge of quarter-end payments for Russia’s commodity exports.
The quick rebound of the ruble surprised some who expected that Western sanctions targeting Russia’s financial system would cause prolonged weakness in the currency.