Commodity Trade Mantra

Posts Tagged ‘Ruble’

Why Russia Will Halt the Ruble’s Slide and Keep Pumping Oil

Fall of the ruble has accompanied a precipitous decline in oil prices. Russia, a resource-based economy, is hurt by oil weakness. But oil is traded nearly everywhere in US dollars, which are presently enjoying considerable strength. Russia can sell their oil in dollars but pay their expenses in devalued rubles & make capital improvements.

Russian Bear—or Gold Bull?

Russia announced that it’s central bank bought about 150 tonnes of gold this year. Fact is that Russia has been buying gold for years. This trend has taken Russia’s gold holdings from around 400 tonnes 13 years ago to a fast approaching 1,200 tonnes at the end of 2014. A clear message: Russia prefers to hold gold more than the US dollar.

Gold-Backed Currency? Not Any Time Soon, But Be Prepared

How can there be a gold-backed currency? While all eyes are focused on some kind of gold-backed currency emerging to replace the failing petrodollar and skyrocket gold and silver prices, all should be aware of the current world reserve currency and how all of these war-induced skirmishes are to maintain and protect it.

The Nail In Petrodollar Coffin: Gazprom Accepts Oil Payment In Ruble, Yuan

Russia will export energy to either Europe or China, and receive payment in either Rubles or Yuan, in effect making the two currencies equivalent as far as the Eurasian axis is concerned, but most importantly, transact completely away from the US dollar thus, finally putin'(sic) in action the move for a Petrodollar-free world.

No Escape from the Dollar as the Currency Standard

All commodities are priced internationally in dollars & the dollar is used for over 80% of cross-border trade settlements.The yuan, ruble, rupee & all other Asian & emerging-economy currencies involved may be able to trade between themselves without the dollar, but still remain on a dollar standard.

Russia Buys 900,000 Ounces Of Gold Worth $1.17 Billion In April

Russia may be planning to give the ruble some form of gold backing in order to protect the ruble from devaluations and protect Russia from an international monetary crisis. Global central banks demand is set to continue as macroeconomic, monetary and geopolitical uncertainty is unlikely to abate any time soon.

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