It’s On: Gazprom Prepares “Symbolic” Bond Issue In Chinese Yuan
by Tyler Durden
ZeroHedge.com
04/10/2014
Curious what the fate of the petrodollar is? Look no farther than this Interfax update blasted moments ago by Bloomberg: “Gazprom Considers ‘Symbolic’ Yuan Bond Issue, Interfax Says.”
Bloomberg adds that the gas giant is considering proposals from potential organizers to market bonds in yuan, Interfax reports, citing people with knowledge of the matter.
Gazprom unlikely be able to gain more than $300m due to mkt volume, newswire reports
No mandates, deal timeline yet
Issue may add new investors, become a “topical” public relations act amid tensions with U.S., EU
Well, yes. It’s called “symbolic” for a reason. More importantly, it is a symbol of what happens when one can “create” money de novo without the presence of the world’s increasingly defunct reserve currency, either secured by gas or by future cash flows, i.e., unsecured.
The Rest…HERE
