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THE FED PONZI SCHEME IN DANGER: Putin Wants To Eliminate The Dollar From Russian Trade

from RT:


Russian President Vladimir Putin blasted the government for turning a blind eye on US dollar payments in the domestic oil trade.

“I would like to mention one crucial issue in the development of the energy industry, and the economy as a whole. It is a question of finally stopping the use of foreign currency in internal trade,” said Putin at the fuel and energy presidential commission on Tuesday.

Putin posed the question to the Russian Finance Minister.

“Mr. Siluanov, aren’t settlements in foreign currencies prohibited by [Russian] law? And what do we have in practice? Fees for shipment of oil products and crude oil in the Russian ports of Novorossiisk, Taman, Ust-Luga, Kozmino, Primorsk and others – are either directly priced in US dollars, or denominated in US dollars on online trading systems, practically in real time,” asked the President.

“This is, of course, unacceptable. It directly contradicts current legislation. I don’t understand what the regulatory authorities are looking at,” Putin added.

Putin also stressed the importance of not using the US dollar in international trade, a goal that has been on the Kremlin’s agenda since the deterioration of relations with the US over Ukraine.

Read More @ RT.com

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1 comment to THE FED PONZI SCHEME IN DANGER: Putin Wants To Eliminate The Dollar From Russian Trade

  • rich

    and japan wants to buy the whole market………….

    Owning Half of Japan’s ETF Market Might Not Be Enough for Kuroda

    Japan’s central bank already owns more than half of the nation’s market for exchange-traded stock funds, and that might just be the start.

    The Bank of Japan will boost stimulus on Friday, according to 16 of 36 economists in Bloomberg’s latest survey, with 12 saying it would do so by increasing its annual ETF-buying budget. With 3 trillion yen ($25 billion) a year in existing firepower, the BOJ has accumulated an ETF stash that accounted for 52 percent of the entire market at the end of September, figures from Tokyo’s stock exchange show.

    Policy makers weighing a deeper foray into equities shows how the world’s third-biggest stock market has become one of the most important Abenomics battlegrounds. The Topix index is up 21 percent since the central bank unexpectedly tripled its ETF budget almost a year ago, and Citigroup Global Markets Japan Inc.’s Tsutomu Fujita says there’s room for them to triple it again. For Amundi Japan Ltd., expanding the program would do more harm than good.

    “At a fundamental level, I don’t support the idea of central banks buying ETFs or equities,” said Masaru Hamasaki, head of the investment information department at Amundi Japan. “Unlike bonds, equities never redeem. That means they will have to be sold at some point, which creates market risk.”
    Risk-Taking Activity

    http://www.bloomberg.com/news/articles/2015-10-28/owning-half-of-japan-s-etf-market-might-not-be-enough-for-kuroda

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