DE-DOLLARIZATION ACCELERATES AS RUSSIA NEARS LAUNCH OF RUBLE-PRICED OlL TRADING PLATFORM…..Jim Sinclair called this an economic Nuke in 2014

Investmentwatchblog.com
May 9th, 2016

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.

The Rest…HERE

This entry was posted on Monday, May 9th, 2016 at 10:40 am and is filed under Economics, God Help Us, Oil, Russia. You can follow any responses to this entry through the RSS 2.0 feed.