uruknet.info
  اوروكنت.إنفو
     
    informazione dal medio oriente
    information from middle east
    المعلومات من الشرق الأوسط

[ home page] | [ tutte le notizie/all news ] | [ download banner] | [ ultimo aggiornamento/last update 13/11/2018 22:34 ] 23442


english italiano

  [ Subscribe our newsletter!   -   Iscriviti alla nostra newsletter! ]  




[23442]



Uruknet on Alexa


End Gaza Siege
End Gaza Siege

>

:: Segnala Uruknet agli amici. Clicka qui.
:: Invite your friends to Uruknet. Click here.




:: Segnalaci un articolo
:: Tell us of an article






Vladimir Putin and the rise of the petro-ruble

Mike Whitney

putin_oil.jpg

May 21, 2006



"If one day the world’s largest oil producers demanded euros for their barrels, it would be the financial equivalent of a nuclear strike". Bill O’ Grady, A.G. Edwards


Russia is planning a preemptive strike on the United States that is likely to trigger a market meltdown and economic disaster in America.

On May 10, in his State of the Nation speech to parliament, President Vladimir Putin announced that Russia would make the ruble "internationally convertible" so that it could be used in oil and natural gas transactions. Currently, oil is denominated exclusively in dollars. Putin’s announcement is tantamount to a declaration of war.

If Russia goes forward with its conversion plan, central banks throughout Europe and Asia will reduce their stockpiles of dollars sending billions of surplus greenbacks back to the US. The aftershocks on the American economy are bound to be catastrophic; precipitating either a deep recession or depression. The US cannot absorb the billions of dollars that are now circulating in oil transactions without undergoing a violent cycle of hyper-inflation.

"The ruble must become a more widespread means of international transactions," Putin said. "To this end, we need to open a stock exchange in Russia to trade in oil, gas, and other goods to be paid for in rubles."

Putin’s plan is similar to that of Iran, which announced that it would open an oil-bourse (oil exchange) on Kish Island in two months. The bourse would allow oil transactions to be made in petro-euros, thus discarding the dollar. Iran’s action has intensified the Bush administration’s belligerence and put the two nations on the fast-track to war. We should note that Saddam was attacked just 6 months after he made the conversion to euros. Iran should expect a similar fate.

The United States must protect its dollar-monopoly in the oil trade or it will lose the advantage of being the world’s "reserve currency". As the reserve currency, the US can maintain its towering $8.4 trillion national debt (and $800 billion trade deficit) without fear of soaring interest rates or hyper-inflation. The Federal Reserve simply prints money that foreign countries accept for valuable resources and manufactured goods. America’s economic supremacy depends entirely on its ability to compel nations into making their crucial energy acquisitions in greenbacks. This allows Washington to shift the expense of its war in Iraq as well as Bush’s enormous tax cuts onto the backs of the developing world. This is the system that the US intends to prolong into perpetuity.

America’s monopoly on the oil trade is the greatest fraud in history. The dollar is the equivalent of a bad check written on an account that is $8.4 trillion overdrawn. Regrettably, the Bush administration has every intention of defending this extortion-racket by eliminating any competition to the dollar. That means that the growing coalition of states (Venezuela, Russia and Iran) that are threatening to move away from the greenback, can expect the full force of Uncle Sam’s wrath.

Waging war may be an option with Iran, but what about Russia? Would the Bush administration risk nuclear Armageddon to protect the flaccid dollar?

The administration is exploring all of its options and is developing a strategy to crush Putin’s rebellion. (This may explain why Newsweek editor and spokesman for the Council on Foreign Relations (CFR), Fareed Zacharia, asked his guest on this week’s "Foreign Exchange" whether he thought Putin could be "assassinated"?!?)

In the recently published "Collapse of the petrodollar looming", Dave Kimble provides the details of Russia’s importance to the world oil market.

"Russia's oil exports represent 15.2% of the world's export trade in oil, making it a much more significant player than Iran, with 5.8% of export volumes. Russia also produces 25.8% of the world's gas exports, while Iran is still only entering this market as an exporter…. Venezuela has 5.4% of the export market."

Obviously, it is not in Russia’s interest to trade with its European partners in dollars any more than it would be for the US to trade with Canada in rubles. Putin can strengthen the Russian economy and improve Russia’s prestige in the world as an energy superpower by transitioning to rubles.

But will Washington allow Putin to succeed?

The Council on Foreign Relations (CFR), the secretive organization of 4,400 American elites from industry, finance, politics and the military (who run the machinery of state behind the mask of democracy) has already issued a tersely worded attack on Putin ("Russia’ Wrong Direction"; Manila Times) outlining what is expected for Russia to conform to American standards of conduct. The missive says that Russia is headed in "the wrong direction" and that "a strategic partnership no longer seems possible". The article reiterates the usual canards that Putin is becoming more "authoritarian" and "presiding over the rollback of Russian democracy". (No mention of flourishing democracy in Saudi Arabia or Uzbekistan?) The CFR cites Putin’s resistance to "US and NATO military access to Central Asian bases" (which are a dagger put to Moscow’s throat) the banishing of Washington’s "regime change" NGOs from operating freely in Russia ("Freedom Support Act funds") and Russia’s continued support for Iran’s "peaceful" development of nuclear energy.

America is no friend of Russia. It took full advantage of the confusion following the fall of the Soviet Union and used it to apply its neoliberal policies which destroyed the ruble, crushed the economy, and transferred the vast resources of the state to a handful of corrupt oligarchs. Putin single-handedly, put Russia back on solid footing; taking back Yukos from the venal Khordukovsky and addressing the pressing issues of unemployment and poverty reduction. He now enjoys a 72% approval rating and does not need the advice of the Bush administration or the CFR on the best political path for Russia.

The US is assuming its traditional antagonistic role towards Russia by putting more military bases in Central Asia, feeding the turmoil in Chechnya, isolating Russia from its European neighbors, and directly intervening in its elections.

When the G-8 summit takes place next week, we should expect a full-throated attack from the corporate media disparaging Putin as the latest incarnation of Adolph Hitler. (It should also be noted that Putin’s announcement of converting the oil trade to rubles has not appeared in ANY western media. Like the Downing Street Memo, the firebombing of Falluja, or the "rigged" 2004 elections, the western media scrupulously avoids any topic that may shed light on the real workings of the US government)

Putin’s challenge to the dollar is the first salvo in a guerilla war that will end with the crash of the greenback and the restoration of parity among the nations of the world. It represents a tacit rejection of a system that requires coercion, torture and endless war to uphold its global dominance. When the dollar begins its inevitable decline, the global-economic paradigm will shift, the American war machine will grind to a halt, and the soldiers will come home.

For that, we can thank Vladimir Putin and the rise of the petro-ruble.


:: Article nr. 23442 sent on 22-may-2006 01:21 ECT

www.uruknet.info?p=23442



:: The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website.

The section for the comments of our readers has been closed, because of many out-of-topics.
Now you can post your own comments into our Facebook page: www.facebook.com/uruknet




Warning: include(./share/share2.php): failed to open stream: No such file or directory in /home/content/25/8427425/html/vhosts/uruknet/colonna-centrale-pagina-ansi.php on line 385

Warning: include(): Failed opening './share/share2.php' for inclusion (include_path='.:/usr/local/php5_4/lib/php') in /home/content/25/8427425/html/vhosts/uruknet/colonna-centrale-pagina-ansi.php on line 385



       
[ Printable version ] | [ Send it to a friend ]


[ Contatto/Contact ] | [ Home Page ] | [Tutte le notizie/All news ]







Uruknet on Twitter




:: RSS updated to 2.0

:: English
:: Italiano



:: Uruknet for your mobile phone:
www.uruknet.mobi


Uruknet on Facebook






:: Motore di ricerca / Search Engine


uruknet
the web



:: Immagini / Pictures


Initial
Middle




The newsletter archive




L'Impero si è fermato a Bahgdad, by Valeria Poletti


Modulo per ordini




subscribe

:: Newsletter

:: Comments


Haq Agency
Haq Agency - English

Haq Agency - Arabic


AMSI
AMSI - Association of Muslim Scholars in Iraq - English

AMSI - Association of Muslim Scholars in Iraq - Arabic




Font size
Carattere
1 2 3





:: All events








     

[ home page] | [ tutte le notizie/all news ] | [ download banner] | [ ultimo aggiornamento/last update 13/11/2018 22:34 ]




Uruknet receives daily many hacking attempts. To prevent this, we have 10 websites on 6 servers in different places. So, if the website is slow or it does not answer, you can recall one of the other web sites: www.uruknet.info www.uruknet.de www.uruknet.biz www.uruknet.org.uk www.uruknet.com www.uruknet.org - www.uruknet.it www.uruknet.eu www.uruknet.net www.uruknet.web.at.it




:: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more info go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
::  We always mention the author and link the original site and page of every article.
uruknet, uruklink, iraq, uruqlink, iraq, irak, irakeno, iraqui, uruk, uruqlink, saddam hussein, baghdad, mesopotamia, babilonia, uday, qusay, udai, qusai,hussein, feddayn, fedayn saddam, mujaheddin, mojahidin, tarek aziz, chalabi, iraqui, baath, ba'ht, Aljazira, aljazeera, Iraq, Saddam Hussein, Palestina, Sharon, Israele, Nasser, ahram, hayat, sharq awsat, iraqwar,irakwar All pictures

 

I nostri partner - Our Partners:


TEV S.r.l.

TEV S.r.l.: hosting

www.tev.it

Progetto Niz

niz: news management

www.niz.it

Digitbrand

digitbrand: ".it" domains

www.digitbrand.com

Worlwide Mirror Web-Sites:
www.uruknet.info (Main)
www.uruknet.com
www.uruknet.net
www.uruknet.org
www.uruknet.us (USA)
www.uruknet.su (Soviet Union)
www.uruknet.ru (Russia)
www.uruknet.it (Association)
www.uruknet.web.at.it
www.uruknet.biz
www.uruknet.mobi (For Mobile Phones)
www.uruknet.org.uk (UK)
www.uruknet.de (Germany)
www.uruknet.ir (Iran)
www.uruknet.eu (Europe)
wap.uruknet.info (For Mobile Phones)
rss.uruknet.info (For Rss Feeds)
www.uruknet.tel

Vat Number: IT-97475012153