Harsh Jones Posted August 12, 2014 Share Posted August 12, 2014 Zero hedge is the nutty side written by a insane dude that lost his Series 7 for breaking the law. I work with the industries best analyst at BofA ML and utilize a platform that has averaged about 18 to 20% since 1991 that invest in about 90 % large to Jumbo caps, 10 % mid caps in a rotating monthly looking forward/estimated earning forecast basis. This platform even had me 80% cash as of December 2007.That is better than Ivandjiiski ever did even tough Ivandjiiski was cheating and trying to beat the system illegally. So congrats! You chose to listen to an underperforming loser that had to resort to illegal acts to try and be a success. Impressive! Zerohedge is a financial and political news site from an Austrian economics and libertarian prospective. The founder has turned it into a very successful privately run business. B of A ML did not exist in 2007. So I am not sure who you were working for in 2007. B of A or ML .. I am a lawyer for a large firm. I don't use my Series 7 or 66. I just passed those exams to better learn the subject matter of the case I itigate and arbitrate. I know when BofA acquired ML. My law firm played a small role in due dilligence. Wife works for BofA in Global Corporate and Investment Banking. I have invested my own money with ML since 1996/97. The platform I am in has averaged somewhere close to 20% since its inception in 1981. I don't work for BofA Ml. I represented BofA in the CMO debacle due to its acquisition of Countrywide that spawned several class actions and ERISA cases and I arbitrated something like 350 cases for BofA and Morgan Keegan between 2008 to present primarily funds heavily weighted in CDO and junk bond (ala James Kelso bind funds) that got slaughtered in 2008. In 2008, Merrill Lynch was hours away from bankruptcy and was forced into a merger with Bank of America by the government who was then bailed out by the Federal reserve. So its been pretend capitalism ever since. And Zerohedge is the crazy ones for pointing out this crony fraudulent sham of an industry that relies on government to exist. Eventually this will lead to a currency crisis like it always does. 1 Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 12, 2014 Share Posted August 12, 2014 What is it about Putin that makes you want to war monger against him ? Where have I ever said I wanted war with Putin? Never. I just want him to take his troops out of Ukraine and leave them alone. Is that too much to ask? He started this. It's up to him to stop it. Putin started this?? So US had no hand in it? Please think twice before responding as I would not want to post links of evidence of US meddling in Ukraine way before the conflict started I should have clarified. He started the military actions. We were discussing war after all, not just meddling. Umm there wasn't a shot fired or any deaths. The Russian army had a lease on the territory it was on. A referendum was called. Unlike the coup in Ukraine that resulted in hundreds of deaths. Link to comment Share on other sites More sharing options...
lovetotravel Posted August 12, 2014 Share Posted August 12, 2014 http://en.wikipedia.org/wiki/2014_Crimean_crisis February 26, pro-Russian forces gradually took control of the Crimean peninsula. Russia initially claimed that the uniformed men were local self-defense forces but later admitted they were in fact Russian military personnel without insignia,[157] confirming the reports of non-Russian media Over the course of the Crimean crisis, a Ukrainian soldier and a Crimean defense member have been killed, another two Ukrainians have sustained serious bullet injuries and two other Russian militiamen have been wounded. During a controversial incident in Simferopol on March 18, some Ukrainian sources said that armed gunmen that have been reported to be Russian special forces allegedly stormed the base.This was contested by Russian authorities, who subsequently arrested an alleged Ukrainian sniper in connection with the killings.[209][210] At this stage, none of the accounts of this event could be verified independently.[211] The Ukrainian and the Crimean authorities provided conflicting reports of the event.[212] Furthermore, witnesses of the event said that there was no immediate evidence that any Russian soldiers were involved in the incident.[213] The two casualties had a joint funeral attended by both the Crimean and Ukrainian authorities, and both soldiers were mourned together.[214] The incident is now under investigation by both the Crimean authorities and the Ukrainian military. [215][216] Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 12, 2014 Share Posted August 12, 2014 UK pork farmers threatened by Russian import sanctions BBC August 11 /14 UK pork farmers will face pressure to lower prices because of Russia's ban on food imports from a number of Western countries, say experts. The ban is expected to increase the supply of pork on world markets. In Chicago, where one of the main benchmark pork prices is determined, "Lean Hog Futures" have fallen 18% from their 7 July peak. Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 12, 2014 Share Posted August 12, 2014 (edited) http://en.wikipedia.org/wiki/2014_Crimean_crisis February 26, pro-Russian forces gradually took control of the Crimean peninsula. Russia initially claimed that the uniformed men were local self-defense forces but later admitted they were in fact Russian military personnel without insignia,[157] confirming the reports of non-Russian media Over the course of the Crimean crisis, a Ukrainian soldier and a Crimean defense member have been killed, another two Ukrainians have sustained serious bullet injuries and two other Russian militiamen have been wounded. During a controversial incident in Simferopol on March 18, some Ukrainian sources said that armed gunmen that have been reported to be Russian special forces allegedly stormed the base.This was contested by Russian authorities, who subsequently arrested an alleged Ukrainian sniper in connection with the killings.[209][210] At this stage, none of the accounts of this event could be verified independently.[211] The Ukrainian and the Crimean authorities provided conflicting reports of the event.[212] Furthermore, witnesses of the event said that there was no immediate evidence that any Russian soldiers were involved in the incident.[213] The two casualties had a joint funeral attended by both the Crimean and Ukrainian authorities, and both soldiers were mourned together.[214] The incident is now under investigation by both the Crimean authorities and the Ukrainian military. [215][216] There was hundreds killed in the streets of Kiev. And not even the 2 alleged deaths in Crimea would have occurred if not for the coup. Washington chose the coup route. Putin suggested moving the election dates in Ukraine closer. The US rejected it.Putin suggested a trilateral trade agreement between the US, Russia and EU. The US rejected it. Russia's statement on the funds that Washington lent to Kiev at the time. Washington’s decision to provide financial aid to the coup-appointed government of Ukraine goes against the US laws, Russia’s Foreign Ministry said, urging American politicians to think about the consequences of supporting the radicals in Kiev.Ukraine’s ousted president, Viktor Yanukovich, said on Tuesday that the US plans to loan $1 billion to the country’s new authorities are illegal. “Indeed, in accordance with the amendments introduced to the 1961 law (Foreign Assistance Act) a few years ago the provision of foreign assistance is prohibited to ‘the government of any country whose duly elected head of government is deposed by military coup or decree.’ The relevant provision is contained in 22 US Code § 8422,” the Russian Foreign Ministry said in a statement. “Thus, by all criteria the provision of funds to the illegitimate [Kiev] regime, which seized power by force, is unlawful and goes beyond the boundaries of the US legal system,” the statement added. Edited August 12, 2014 by Harsh Jones Link to comment Share on other sites More sharing options...
lovetotravel Posted August 12, 2014 Share Posted August 12, 2014 http://edition.cnn.com/2014/08/07/world/europe/russia-putin-ukraine-endgame/index.html?hpt=ieu_r1 Link to comment Share on other sites More sharing options...
konying Posted August 12, 2014 Share Posted August 12, 2014 What is it about Putin that makes you want to war monger against him ?Where have I ever said I wanted war with Putin? Never. I just want him to take his troops out of Ukraine and leave them alone. Is that too much to ask? He started this. It's up to him to stop it.Putin started this?? So US had no hand in it?Please think twice before responding as I would not want to post links of evidence of US meddling in Ukraine way before the conflict started I should have clarified. He started the military actions. We were discussing war after all, not just meddling. Only to a degree, it was US who supported the illegal overthrow of the democratically elected government , then overlooked all the killings by the opposition. All Putin did then protect Russian Navy and it's port. If Putin did start military action, rest assured there would not be much of Ukraine left Crimea was a brilliantly masterminded and executed by Putin, and that you can not take away from him. Current situation is a consequences of Neo Nazi government and it's policies. If Russia was involved , Ukraine would not be advancing Link to comment Share on other sites More sharing options...
Publicus Posted August 12, 2014 Share Posted August 12, 2014 There was hundreds killed in the streets of Kiev. And not even the 2 alleged deaths in Crimea would have occurred if not for the coup. Washington chose the coup route. Putin suggested moving the election dates in Ukraine closer. The US rejected it.Putin suggested a trilateral trade agreement between the US, Russia and EU. The US rejected it. Russia's statement on the funds that Washington lent to Kiev at the time. Washington’s decision to provide financial aid to the coup-appointed government of Ukraine goes against the US laws, Russia’s Foreign Ministry said, urging American politicians to think about the consequences of supporting the radicals in Kiev.Ukraine’s ousted president, Viktor Yanukovich, said on Tuesday that the US plans to loan $1 billion to the country’s new authorities are illegal. “Indeed, in accordance with the amendments introduced to the 1961 law (Foreign Assistance Act) a few years ago the provision of foreign assistance is prohibited to ‘the government of any country whose duly elected head of government is deposed by military coup or decree.’ The relevant provision is contained in 22 US Code § 8422,” the Russian Foreign Ministry said in a statement. “Thus, by all criteria the provision of funds to the illegitimate [Kiev] regime, which seized power by force, is unlawful and goes beyond the boundaries of the US legal system,” the statement added. Putin is wrong. Putin's repeated claims that a coup occurred are false as there was no military action to overthrow of the pro-Moscow government by the Ukraine people. The law Putin and you yourself reference is clear --- it refers to a military coup d'état or a change of government when the military plays a decisive role. A military coup d'état did not occur in Ukraine. The military was not involved in the removal of Prez Viktor Yanukovych who abandoned the capital and then abandoned the country after the parliament voted him out of office. You and Putin like to quote the United States Code of Laws concerning coups d'état. You and Putin are proved wrong by a reading of the language of the law itself, Coups d'Etat Sec. 7008. None of the funds appropriated or otherwise made available pursuant to titles III through VI of this Act shall be obligated or expended to finance directly any assistance to the government of any country whose duly elected head of government is deposed by military coup d'etat or decree or, after the date of enactment of this Act, a coup d'etat or decree in which the military plays a decisive role: (Emphasis added.) http://jurist.org/dateline/2013/07/steven-aiello-legislation-reform.php February 22, 2014 Ukrainian President Voted Out; Opposition Leader Freed Ukraine's parliament has voted to push President Viktor Yanukovych out of office hours after he fled the capital and denounced events in the country as "a coup d'etat" in a television interview. The legislature also voted to release Yanukovych's jailed arch-rival, former Prime Minister Yulia Tymoshenko. "Our homeland will from today on be able to see the sun and sky as a dictatorship has ended," Ms. Tymoshenko told reporters. Tymoshenko's remarks followed a vote in parliament to consider Yanukovych "resigned." The body also voted to hold new presidential elections on May 25. http://www.npr.org/blogs/thetwo-way/2014/02/22/281083380/unkrainian-protesters-uneasy-president-reportedly-leaves-kiev To support your and Putin's 100% false claim it was a coup d'état you need to provide the name of the Ukrainian military general who led your coup. And that would be just for starters. Also, here's a Ukraine 2014 quick basic fact backgrounder from National Public Radio in the U.S. http://www.npr.org/blogs/parallels/2014/02/19/279673384/four-things-to-know-about-whats-happening-in-ukraine The name of the general please........ Link to comment Share on other sites More sharing options...
F430murci Posted August 12, 2014 Share Posted August 12, 2014 (edited) Zero hedge is the nutty side written by a insane dude that lost his Series 7 for breaking the law. I work with the industries best analyst at BofA ML and utilize a platform that has averaged about 18 to 20% since 1991 that invest in about 90 % large to Jumbo caps, 10 % mid caps in a rotating monthly looking forward/estimated earning forecast basis. This platform even had me 80% cash as of December 2007. That is better than Ivandjiiski ever did even tough Ivandjiiski was cheating and trying to beat the system illegally. So congrats! You chose to listen to an underperforming loser that had to resort to illegal acts to try and be a success. Impressive! Zerohedge is a financial and political news site from an Austrian economics and libertarian prospective. The founder has turned it into a very successful privately run business. B of A ML did not exist in 2007. So I am not sure who you were working for in 2007. B of A or ML .. I am a lawyer for a large firm. I don't use my Series 7 or 66. I just passed those exams to better learn the subject matter of the case I itigate and arbitrate.I know when BofA acquired ML. My law firm played a small role in due dilligence. Wife works for BofA in Global Corporate and Investment Banking. I have invested my own money with ML since 1996/97. The platform I am in has averaged somewhere close to 20% since its inception in 1981. I don't work for BofA Ml. I represented BofA in the CMO debacle due to its acquisition of Countrywide that spawned several class actions and ERISA cases and I arbitrated something like 350 cases for BofA and Morgan Keegan between 2008 to present primarily funds heavily weighted in CDO and junk bond (ala James Kelso bind funds) that got slaughtered in 2008. In 2008, Merrill Lynch was hours away from bankruptcy and was forced into a merger with Bank of America by the government who was then bailed out by the Federal reserve. So its been pretend capitalism ever since. And Zerohedge is the crazy ones for pointing out this crony fraudulent sham of an industry that relies on government to exist. Eventually this will lead to a currency crisis like it always does. CMOs had a very wide impact. No doubt about. As is usual, you throw around statements you read on Net without understanding their meaning. BofA acquired ML, not merged. BofA was concerned about acquiring ML's CMO exposure, but the acquisition paid off. ML carried BofA, was BofA's most profitable division in 2010/2011 and may still be so today. I have not looked at BofA financials in a while. America and Americans are resiliant and we pulled through the CMO crisis. We learned too much about short term band aides over festering long term abscesses in 2008 to be employing the same method now. RE: US debt I posted on here a few months back how and why debt is a good thing for the US economy and how both the US and world economies are made to operate on this system. You guys that hate/resent our system and hope to see failure focus on total debt versus public debt because that is what the nutty doomsday website focus on. Politicians use it as a political tool also even though they know the truth because it rallies the ignorant. US debt, however, is a whole other topic, but your statements show you have less than a complete grasp of the US economic system because you are educated by nutty, conspiracy sites that manipulate data and paint partial pictures when the full portrait is necessary to understand. RE: World issues BTW, the current property bubble in China, however, dwarfs our mortgage crisis in 2008. Alas, you are oblivious to the actual current weaknesses in the world economy and macro economic realities because it does not coincide with your resentments, desires and/or agendas. You also read the writings of a lunatic that lost his license and has an axe to grind. Fact is, there are many very smart people with billions at stake, my wife included, that continue to believe in US economy and strength of US banks and corporations. RE: Knowledge of 2008 issues prior to collapse We all knew about the CMO bubble in 2008 well before it burst. I had heard exactly, to the T, which quarter it would happen as early as October 2007. We all knew about AIG's problems and credit swa issues prior to 2005. Everyone also knew that large brokerage houses and banks had huge CMO exposures as early as 2006. The problem was not knowledge. The problem was there was no way to stop the property defaults and subsequent loss of property values. If there was any problems now, I would be sitting on sidelines, mostly cash and agreeing with you. My only concern now is how deep is the property bubble in China and when it will pop. Edited August 12, 2014 by F430murci 2 Link to comment Share on other sites More sharing options...
F430murci Posted August 12, 2014 Share Posted August 12, 2014 (edited) Zero hedge is the nutty side written by a insane dude that lost his Series 7 for breaking the law. I work with the industries best analyst at BofA ML and utilize a platform that has averaged about 18 to 20% since 1991 that invest in about 90 % large to Jumbo caps, 10 % mid caps in a rotating monthly looking forward/estimated earning forecast basis. This platform even had me 80% cash as of December 2007. That is better than Ivandjiiski ever did even tough Ivandjiiski was cheating and trying to beat the system illegally. So congrats! You chose to listen to an underperforming loser that had to resort to illegal acts to try and be a success. Impressive! Zerohedge is a financial and political news site from an Austrian economics and libertarian prospective. The founder has turned it into a very successful privately run business. B of A ML did not exist in 2007. So I am not sure who you were working for in 2007. B of A or ML .. I am a lawyer for a large firm. I don't use my Series 7 or 66. I just passed those exams to better learn the subject matter of the case I itigate and arbitrate.I know when BofA acquired ML. My law firm played a small role in due dilligence. Wife works for BofA in Global Corporate and Investment Banking. I have invested my own money with ML since 1996/97. The platform I am in has averaged somewhere close to 20% since its inception in 1981. I don't work for BofA Ml. I represented BofA in the CMO debacle due to its acquisition of Countrywide that spawned several class actions and ERISA cases and I arbitrated something like 350 cases for BofA and Morgan Keegan between 2008 to present primarily funds heavily weighted in CDO and junk bond (ala James Kelso bind funds) that got slaughtered in 2008. Since 2008 zero hedge have continually covered all the sleazy corrupt and criminal activities in the banking sector, while the mainstream media hardly said boo. How much coverage did you get in the MSM about matters such as Goldman Sachs advising their clients to do one thing but doing the opposite themselves, the libor scandal, the money-laundering scandal at HSBC and I could go on and on. I would never regard zero hedge as representing investment advice in any way but it is a source of news and information, which sadly you cannot get in the mainstream media these days on the way in which the world economy has become an oligarchy between bankers and politicians leaving the little man on the street totally unprotected. The sad, but comical part, is that Harsh James seems to an intelligent guy capable of formulating an intelligent thought and comprehending this stuff if he/she actually wanted to. You on the other hand, lets just say you are mild entertainment and Zereohedge is right up your alley as another source of mild entertainment. Edited August 12, 2014 by F430murci Link to comment Share on other sites More sharing options...
lovetotravel Posted August 12, 2014 Share Posted August 12, 2014 Talk about extremes. And to think, some will argue Putin's strings are not being pulled by external advisers. Right. http://en.wikipedia.org/wiki/Economy_of_Russia However, these gains have been distributed unevenly as 110 wealthiest individuals were found to own 35% of all financial assets held by Russian households.[31] Since 2011 Moscow has been repeatedly named the "billionare capital the world".[32][33] Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 12, 2014 Share Posted August 12, 2014 From RT China will start selling fruit and vegetables directly to Russia, and Baorong company plans to set up a special logistics center in Dongning on the border with Russias Far East to do it. The 70,000 square meter wholesale market and 30,000 square meter warehouse, fitted out with refrigerators and other equipment, will be in a special cross-border customs zone, ITAR-TASS cites the head of the Association of Applied Economy of the Heilongjiang Province Zhang Chunjiao. Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 12, 2014 Share Posted August 12, 2014 Talk about extremes. And to think, some will argue Putin's strings are not being pulled by external advisers. Right. http://en.wikipedia.org/wiki/Economy_of_Russia However, these gains have been distributed unevenly as 110 wealthiest individuals were found to own 35% of all financial assets held by Russian households.[31] Since 2011 Moscow has been repeatedly named the "billionare capital the world".[32][33] I never said that. What I was implying is that the elected leaders in the west are just mouth pieces for the unelected. Link to comment Share on other sites More sharing options...
Publicus Posted August 12, 2014 Share Posted August 12, 2014 Garbage in garbage out. Link to comment Share on other sites More sharing options...
F430murci Posted August 13, 2014 Share Posted August 13, 2014 From RT China will start selling fruit and vegetables directly to Russia, and Baorong company plans to set up a special logistics center in Dongning on the border with Russias Far East to do it. The 70,000 square meter wholesale market and 30,000 square meter warehouse, fitted out with refrigerators and other equipment, will be in a special cross-border customs zone, ITAR-TASS cites the head of the Association of Applied Economy of the Heilongjiang Province Zhang Chunjiao. But doesn't China have a food shortage problem? ------- The Chinese government has revealed that 3.33m hectares of its land an area nearly as large as Belgium is too polluted to grow crops, meaning that the country might have to import more food to feed its growing population. http://blueandgreentomorrow.com/2014/01/09/china-faces-food-shortages-over-polluted-agricultural-land/ China is having trouble feeding its 1.35 billion people. As the nation underwent rapid industrialization and urbanization in recent years, its productive farmlands have dwindled, reducing its domestic food supply, . . . http://m.ibtimes.com/chinas-food-challenge-demand-rises-nation-becomes-wealthier-while-domestic-supply-dwindles-1413754 POLLUTION IN CHINA'S FARMLAND TRIGGERS FOOD SHORTAGE CONCERNS http://www.breitbart.com/Big-Peace/2014/01/03/Pollution-In-China-s-Farmland-Triggers-Potential-Food-Shortage-Concerns 1 Link to comment Share on other sites More sharing options...
lovetotravel Posted August 13, 2014 Share Posted August 13, 2014 I avoid Chinese products like the plague. Always have problems with them and for sure don't trust their food stuffs. You never know what's gone into it. My good friend lived in Shanghai for 8 years. He was in the hospital at least 2 times every year due to something he ate. One time he was in for a week. They never figured out what the problem was. Link to comment Share on other sites More sharing options...
lovetotravel Posted August 13, 2014 Share Posted August 13, 2014 Just saw this: http://money.cnn.com/2014/08/12/news/china-fast-food-suppliers/index.html?iid=HP_LN Ugh. In 2010 they discovered 1 in 10 meals cooked in China were done so with "recycled" oil. That's oil people scavenged from drains! Wow.... Best of luck, Russia! 1 Link to comment Share on other sites More sharing options...
lovetotravel Posted August 14, 2014 Share Posted August 14, 2014 http://www.nytimes.com/2014/08/14/world/europe/ukraine-crisis-hardens-germany-against-russia-an-old-partner.html Germany Puts Curbing Russia Ahead of CommerceBERLIN — Over recent months, something significant has happened in Europe: In the crisis over Ukraine, Germany has assumed leadership not just in its familiar fashion of trying to coax Russia away from belligerence and bluster, but in standing firm and imposing sanctions on Moscow even if they hurt German business. Perhaps even more remarkable is that Germans, long anxious to preserve commercial, energy and cultural ties with their vast eastern neighbor, have gone along. Seventy percent of 1,003 adults polled last week by Infratest dimap for the public broadcaster ARD approved of stricter sanctions; just 15 percent viewed Russia as a reliable partner in a poll with a three-percentage-point margin of sampling error. In marked contrast to France’s leadership, Chancellor Angela Merkel and her government — a united “grand coalition” of center-right and center-left — have kept German businesses apprised of any shift in thinking and made it clear throughout that tougher sanctions would be imposed if Russia fell further out of line. Link to comment Share on other sites More sharing options...
Asiantravel Posted August 14, 2014 Share Posted August 14, 2014 (edited) If Putin keeps this up, he will end up going the same way as Gadaffi Putin Says The Petrodollar Must Die, "The Dollar Monopoly In Energy Trade Is Damaging Russia's Economy" http://uk.reuters.com/article/2014/08/14/ukraine-crisis-putin-dollar-idUKL6N0QK3BP20140814 Edited August 14, 2014 by Asiantravel Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 14, 2014 Share Posted August 14, 2014 If Putin keeps this up, he will end up going the same way as Gadaffi Putin Says The Petrodollar Must Die, "The Dollar Monopoly In Energy Trade Is Damaging Russia's Economy" http://uk.reuters.com/article/2014/08/14/ukraine-crisis-putin-dollar-idUKL6N0QK3BP20140814 Say it ain't so. I postulated this one page one or 2 and was called a conspiracy nut for it. Petrodollar conspiracy becomes petrodollar fact. PUTIN SAYS RUSSIA SHOULD AIM TO SELL OIL AND GAS FOR ROUBLES GLOBALLY, AS DOLLAR MONOPOLY IN ENERGY TRADE IS DAMAGING ECONOMY 1 Link to comment Share on other sites More sharing options...
lovetotravel Posted August 14, 2014 Share Posted August 14, 2014 If Putin keeps this up, he will end up going the same way as Gadaffi Putin Says The Petrodollar Must Die, "The Dollar Monopoly In Energy Trade Is Damaging Russia's Economy" http://uk.reuters.com/article/2014/08/14/ukraine-crisis-putin-dollar-idUKL6N0QK3BP20140814 Say it ain't so. I postulated this one page one or 2 and was called a conspiracy nut for it. Petrodollar conspiracy becomes petrodollar fact. PUTIN SAYS RUSSIA SHOULD AIM TO SELL OIL AND GAS FOR ROUBLES GLOBALLY, AS DOLLAR MONOPOLY IN ENERGY TRADE IS DAMAGING ECONOMY That's not a serious article. It's just a rant from Putin. 1 Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 14, 2014 Share Posted August 14, 2014 If Putin keeps this up, he will end up going the same way as Gadaffi Putin Says The Petrodollar Must Die, "The Dollar Monopoly In Energy Trade Is Damaging Russia's Economy" http://uk.reuters.com/article/2014/08/14/ukraine-crisis-putin-dollar-idUKL6N0QK3BP20140814 Say it ain't so. I postulated this one page one or 2 and was called a conspiracy nut for it. Petrodollar conspiracy becomes petrodollar fact. PUTIN SAYS RUSSIA SHOULD AIM TO SELL OIL AND GAS FOR ROUBLES GLOBALLY, AS DOLLAR MONOPOLY IN ENERGY TRADE IS DAMAGING ECONOMY That's not a serious article. It's just a rant from Putin. Its a rant that confirms what Putin knows is the real issue here. It confirms that the US is in a fight for the petrodollar in Ukraine. Link to comment Share on other sites More sharing options...
F430murci Posted August 14, 2014 Share Posted August 14, 2014 (edited) If Putin keeps this up, he will end up going the same way as Gadaffi Putin Says The Petrodollar Must Die, "The Dollar Monopoly In Energy Trade Is Damaging Russia's Economy" http://uk.reuters.com/article/2014/08/14/ukraine-crisis-putin-dollar-idUKL6N0QK3BP20140814 Putin has to blame the bad Russian economy on something. He sure won't accept responsibility for it himself. Nevertheless, this time next year it will be same, same. US economy and housing will be up, stock market will be 18,400, and Russia will be facing double digit inflation and 10+ percent rates. The only ones suffering are the poor Russian common man and women, but they are used to it. Hopefully all of that food Putin said he will getting from China is not food coming from all of those Chinese agricultural areas that were too polluted to produce food for its own citizens. Poor Russians and Ukranians for that matter. Just don't see it getting better for them anytime soon. Edited August 14, 2014 by F430murci 1 Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 15, 2014 Share Posted August 15, 2014 If Putin keeps this up, he will end up going the same way as Gadaffi Putin Says The Petrodollar Must Die, "The Dollar Monopoly In Energy Trade Is Damaging Russia's Economy" http://uk.reuters.com/article/2014/08/14/ukraine-crisis-putin-dollar-idUKL6N0QK3BP20140814 Putin has to blame the bad Russian economy on something. He sure won't accept responsibility for it himself. Nevertheless, this time next year it will be same, same. US economy and housing will be up, stock market will be 18,400, and Russia will be facing double digit inflation and 10+ percent rates. The only ones suffering are the poor Russian common man and women, but they are used to it. Hopefully all of that food Putin said he will getting from China is not food coming from all of those Chinese agricultural areas that were too polluted to produce food for its own citizens. Poor Russians and Ukranians for that matter. Just don't see it getting better for them anytime soon. This is something that Putin has been planning for and talking about in speeches for 10 years. Putin could easily just become another US lapdog and the Russian economy would putter along like most US lapdog states. Putin basically has been a US lapdog for the last 10 years. Russia has been doing his part and selling oil in dollars which finances the US trade and govt debt while putting depreciative pressure on the Ruble. This is what the US does: It tells the world that a devalued currency is a good thing. And at the same time, it proclaims that they want the dollar strong. In a normal economy, the productive output of a country raises the value of the currency so that commodities like energy are cheaper then they otherwise would be. Thus, raising the living standard of the people in the said country. Because the cheaper essentials are, the more discretionary income the person has to spend on other things. But under the petrodollar system, the more productive a country is, the more they finance the US trade and government debt. Just look at the forign exchange reserves of China if you want an example. This is why Putin is playing the long game. He is willing to try and take the petrodollar down, in the hope that in the future, the Russian people's standards of living will rise with the productivity of the country. Link to comment Share on other sites More sharing options...
lovetotravel Posted August 15, 2014 Share Posted August 15, 2014 BS. Putin is the antithesis of a US lap dog. He's doing everything he can to jeopardize Russia's relations with the west. From that same article I linked to above. Not that any pro-Putin types would read it.http://www.nytimes.com/2014/08/14/world/europe/ukraine-crisis-hardens-germany-against-russia-an-old-partner.html?_r=0 “I am sobered that in Europe, 25 years after the Cold War, we have still not advanced to the point where we can deal in a different way with unavoidable differences of opinion,” Mr. Steinmeier, the foreign minister, was quoted as saying to the weekly newspaper Die Zeit in a wide-ranging interview in April that reflected the hardening view in Berlin. Seventy years after World War II, he added, “we confront in just a few short weeks a policy that changes borders by force. That cannot become the norm, either in Europe, or the world.” Besides, he said, “the hollowing out of the principle of territorial inviolability could, in the end, be most dangerous of all to the multination state of Russia.” FYI. Petrodollar is an old term. It's now Petrocurrency. And Canada is one of the major players:http://en.wikipedia.org/wiki/Petrodollar 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. So I guess Putin is also angry at Canada? And the UK and Holland and.... http://en.wikipedia.org/wiki/Petrocurrency Currencies correlated with oil prices[edit]The pound sterling has sometimes been regarded as a petrocurrency as a result of North Sea oil exports.[1] 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.[citation needed] 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. And maybe Putin can be angry at Iran for using the Euro? Wow, he's got a lot of countries to be angry with. Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 15, 2014 Share Posted August 15, 2014 BS. Putin is the antithesis of a US lap dog. He's doing everything he can to jeopardize Russia's relations with the west. From that same article I linked to above. Not that any pro-Putin types would read it. http://www.nytimes.com/2014/08/14/world/europe/ukraine-crisis-hardens-germany-against-russia-an-old-partner.html?_r=0 “I am sobered that in Europe, 25 years after the Cold War, we have still not advanced to the point where we can deal in a different way with unavoidable differences of opinion,” Mr. Steinmeier, the foreign minister, was quoted as saying to the weekly newspaper Die Zeit in a wide-ranging interview in April that reflected the hardening view in Berlin. Seventy years after World War II, he added, “we confront in just a few short weeks a policy that changes borders by force. That cannot become the norm, either in Europe, or the world.” Besides, he said, “the hollowing out of the principle of territorial inviolability could, in the end, be most dangerous of all to the multination state of Russia.” FYI. Petrodollar is an old term. It's now Petrocurrency. And Canada is one of the major players: http://en.wikipedia.org/wiki/Petrodollar 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. So I guess Putin is also angry at Canada? And the UK and Holland and.... http://en.wikipedia.org/wiki/Petrocurrency Currencies correlated with oil prices[edit]The pound sterling has sometimes been regarded as a petrocurrency as a result of North Sea oil exports.[1] 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.[citation needed] 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. And maybe Putin can be angry at Iran for using the Euro? Wow, he's got a lot of countries to be angry with. First off, let me clear up some pointless confusion that you introduced. Since 1971, OPEC oil is quoted and traded in US dollars. This is the one and only petrodollar. The term petrocurrency (unlike petrodollar, its not a recognized word) only refers to the effects that oil production has on a countries currency in the forign exchange markets. One term is nothing like the other. Russia has been reluctantly playing the petrodollar game since Putin took power. It was only in around 2010/2011 that Russia starting taking meaningful steps against petrodollar hegemony. Because Putin understands that as long as Russia is playing the petrodollar game (subsidizing the US) , the Russian people will not reap the benefits of their economic output in the form of currency appreciation. All of a sudden , the US started warming up the cold war again. Link to comment Share on other sites More sharing options...
lovetotravel Posted August 15, 2014 Share Posted August 15, 2014 Understand this fairly well. As much as any layman. But the big deal is Russia wants to supply LNG to China. China wants it done in Yuan. Russia in their own currency. It will be interesting to see how this plays out. But yes, the status of the US based "petro dollar" does look to be in potential trouble. Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 16, 2014 Share Posted August 16, 2014 (edited) "Anti-Putin" Alliance Fraying: Germany, Slovakia, Greece, Czech Republic Urge End To Russian Sanctions Zerohedge 16.8/14 Last week Germany reported that in the second quarter, its GDP declined by 0.2%, worse than Wall Street consensus. This happened a few shorts days after Italy reported a second consecutive decline in its own GDP, becoming the first Europen country to enter a triple-dip recession. What's worse, Europe's slowdown took place before the brunt of Russian sanctions hit. http://www.zerohedge.com/news/2014-08-16/anti-putin-alliance-fraying-germany-slovenia-greece-czech-republic-urge-end-russian- Edited August 16, 2014 by Harsh Jones Link to comment Share on other sites More sharing options...
Harsh Jones Posted August 16, 2014 Share Posted August 16, 2014 Understand this fairly well. As much as any layman. But the big deal is Russia wants to supply LNG to China. China wants it done in Yuan. Russia in their own currency. It will be interesting to see how this plays out. But yes, the status of the US based "petro dollar" does look to be in potential trouble. The sooner everyone moves on from the petrodollar era, the better it will be for everyone. Including the US. Link to comment Share on other sites More sharing options...
Pakboong Posted August 17, 2014 Share Posted August 17, 2014 (edited) Understand this fairly well. As much as any layman. But the big deal is Russia wants to supply LNG to China. China wants it done in Yuan. Russia in their own currency. It will be interesting to see how this plays out. But yes, the status of the US based "petro dollar" does look to be in potential trouble. Both China and Russia along with the other major BRICS players plan is to create a gold backed currency that will be used among the some 80 current countries who are signing up with BRICS. It is not necessarily the US that have a problem with this arrangement potential but, the IMF shareholders who coincidentally hold the world"s 3rd largest gold reserve do have a big problem with it.. The obvious question should be how can a bank accumulate the world's 3 largest gold reserve in some 60 years by simply loaning money to needy central banks? The start-up money in 1944 was relatively small so how could they parlay that tiny amount in order to buy hundreds of tons of gold? Obviously, these share holders are making $trillions and they are not about to share it with Putin and BRICS without a fight. Edited August 17, 2014 by Pakboong Link to comment Share on other sites More sharing options...
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