73 votes

What the Heck! Russia and China dump the PetroDollar! Was I asleep when this happened or what!

Hey Gang,

Have you guys heard that Russia and China have inked an agreement to dump the PetroDollar? Apparently happened September 6th 2012. Pretty heavy stuff. Here is the article I found:

http://www.examiner.com/article/dollar-no-longer-primary-oil...

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the stranger's picture

inter-parliamentary

First note; these links weren't available earlier, or rather, the engines weren't serving them up – as you all know. That's important to keep in mind – the delay means it's no longer news (it is, but not from an msm perspective, if that makes sense). Second, don't expect “dumps dollar” in an official release. I think “inter-parliamentary” may be instructive here.

China, Russia vow further inter-parliamentary, economic cooperation
http://news.xinhuanet.com/english/china/2012-09/06/c_1318326...

BEIJING, Sept. 6 (Xinhua) -- China and Russia on Thursday vowed to further promote cooperation between their two parliaments and intensify bilateral economic ties.

In his talks with visiting Russian Federation Council Speaker Valentina Matviyenko, Chinese top legislator Wu Bangguo offered a four-point proposal to step up the inter-parliamentary cooperation with an aim to take the bilateral ties to a higher level.

Wu, chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature, called on both sides to increase mutual political support and deepen mutual trust so as to safeguard both countries' interests on sovereignty, safety and development.

Secondly, the two sides need to cooperate more and better, and enhance exchanges in the fields of governance and legislation, urged Wu.

They also need to boost cultural and personnel exchanges on the occasion of hosting the tourism year in each country so as to strengthen friendship between young people and young politicians, said the top legislator.

Lastly, both countries need to intensify coordination and strategic cooperation in international and regional parliamentary organizations in order to safeguard common interests, according to Wu.

Echoing his Chinese host's remarks, Matviyenko said it is the priority of Russia's foreign policy to develop a Russia-China comprehensive strategic partnership of coordination.

She said the Federation Council is committed to making joint efforts with China's NPC to make full use of the Russia-China parliamentary cooperation committee, the highest-level regular meeting mechanism between China's top legislature and a foreign parliament, so as to conduct all-round cooperation and create good legal conditions for bilateral ties.

The sides agreed that local cooperation is the priority for bilateral ties in the next 10 years. Legislative institutions of both countries need to contribute more to promoting local cooperation and economic development, they believe.

After the talks, Wu and Matviyenko attended the second session of the sixth meeting of the China-Russia parliamentary cooperation committee.

Also on Thursday, Chinese Premier Wen Jiabao met with Matviyenko, pledging closer economic ties.

Wen said there is great potential for further economic and technological cooperation between China and Russia.

The two sides need to further open their markets to each other, liberalize and facilitate trade so that more enterprises, technology, capital and projects can enter into each other's market, Wen said.

He also called on both countries to step up joint investment, joint research and production in the hope of realizing mutual benefit.

According to Matviyenko, economic and trade cooperation is the basis of substantial bilateral cooperation. As Russia has joined the World Trade Organization, it is ready to work with China to expand cooperation on industry, forestry, innovation and high technology, the speaker vowed, adding that she hopes China can increase investment in Russia.

Related
http://www.economy.gov.ru/wps/wcm/connect/economylib4/en/hom...

http://english.sina.com/china/2012/0906/504230.html

http://www.international.gc.ca/commerce/visit-visite/APEC-20...

Sucinctest explanation of Petrodollar

Extortion.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Sucinct explanation of Petrodollar

This is a nice 12 minute summary of the petrodollar and it's impact on current world events. I probably should have included this in the body of this post but neglected to do so. It's probably been posted in this forum already but I'll include the link here for convenience:

http://www.crisishq.com/why-prepare/world-war-3-preserving-p...

Great article.

Bump

b

the stranger's picture

inflection points

11 International Agreements That Are Nails In The Coffin Of The Petrodollar

http://theeconomiccollapseblog.com/archives/11-international...

Under this post, there have been calls for “sources” - and that's fair. But it's also somewhat misleading to the overall topic. While the Granger et al have been making the Republican party a better place to deposit your gray-matter, many of us have been watching this trend for years. The trend is well documented, verifiable, and undeniable. The trend is increasing at an increasing rate.

And why wouldn’t it? The “dollar” reserve system went terminal in the last days of Bush and it moves closer to it's end with each passing day. Sure, it will likely take years to complete because of the size of the system, but that's no hard, fast requirement. I remind myself of is this quote by Gary Lammert, "Just like the formation of galaxies and hurricanes and nautilus shells, the universe of the macro-economy operates through non stochastic fractal growth progression and nonlinear decay. Expect the unexpected."

Our point of view is forced through the dollar lens; we see the world through green colored glasses. Don't let that cloud your judgment. As the derivative matrix weakens, as the oil-dollar loses viscosity, and as the rule of law continues to break down, there will be inflection points. I suggest one is near.

I haven't been able to find

anything specific about a Sept. 6 agreement with Russia. A lot of discussion
seems to be based on an article that Robert Fisk wrote for the (UK) Independent
back in 2009:

http://www.independent.co.uk/news/business/news/the-demise-o...

There have been developments that seem to be pretty well
verifiable regarding China buying oil from Iran w/yuan, the
Russians and Chinese agreeing to conduct trade in their own currencies
(happened in 2010), and the Russians - since the opening of a
pipeline from Eastern Siberia to China in Jan. 2012 have been
exporting a lot more oil to China.

Gazprom and the Chinese haven't agreed on price (for natural gas),
but they claim to be making progress and Gazprom has a huge pipeline
project they say is ready to start construction as soon as an agreement is reached.

I can't find any independent references to the Lindsay Williams' supposed blockbuster
September 6 announcement, but things do seem to be moving in the general direction of
the Chinese are continuing to put the pieces in place to snag the world reserve
currency status once the Fed/USG manage to completely implode the dollar (which
doesn't look to take all that long at the rate they're going..).

"Practically perfect in every way" - Mary Poppins measures up

Please be kind to strangers. You are one yourself, to others.

"Practically perfect" - your reply. Generally agree.

"every way" - The Granger has taken much of her born days making political parties less bad. Though I don't walk in her shoes, I read carefully what she writes... What she warns... She tells her story as best she knows it. Seems she tells truths that we are not comfortable with. She tells what she has seen.

    CELEBRATE MARK TWAIN'S SEVENTIETH BIRTHDAY The New York Times, December 6, 1905

    Fellow-Workers in Fiction Dine with Him at Delmonico's.
    HEAR WHY HE LIVED SO LONG - And How They, if They Resemble Him, May Reach Seventy, Too - Roosevelt Sends Congratulations.

See what can help.

    It was on the 10th day of May -- 1884 -- that I confessed to age by mounting spectacles for the first time, and in the same hour I renewed my youth, to outward appearance, by mounting a bicycle for the first time. The spectacles stayed on.
    - Mark Twain's Speeches

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Keep Searching. Don't Leave It To Others To Learn The Truth.

Start With This...

This source dates back to 1941. Established by the USSR Council of People’s Commissars and the Communist Party Central Committee by resolution and named "Sovinformburo" (Soviet Information Bureau) it was originally "tasked to compile reports on the situation on the frontline of the war, work on the home front, and the partisan movement for the radio, newspapers and magazines....[Now,] the main criteria of RIA Novosti’s (changed to Russian Information Agency, 1998) information services were the combination of promptness, objectiveness, authenticity and its own opinion regardless of the political situation."

...at your own risk...

MOSCOW, September 2, 2012: Russia’s APEC Integration ‘Just Beginning’ – Experts

MOSCOW, September 9, 2012: 2012 APEC Summit a Success - Putin

Possible photo of the "culprits": http://en.rian.ru/photolents/20120908/175847452_5.html

Update: Yes, I know they don't mention the Oil-to-Yen Agreement but all the pieces are there.

Just Don't stop searching and don't leave it to others to learn the truth.

"True is not told, it is realized."

oh!

And off topic. I found this: Top Court Says Russians Cannot Hit Back at Police

Their rights are going the way of the Petrodollar...

~Good Night, And Good Luck~

You were asleep.

We discussed it here as the BRICS summit in spring signed it into agreement... RT reported it widely too:

http://youtu.be/tznt-Q9Uf58

Not that I'd expect any other americans at all to have caught this news, but DP goers should have heard it...

USD's going down, nothing can stop it now. I give it 3 years tops.

HONEST RON 2012!
LEGALIZE LIBERTY!

Maybe asleep....

Maybe in Tampa trying to get seated as a delegate...
Maybe trying to get home in time to batten down the hatches for Issac...
Maybe busy catching up on the tax slavery of my medical practice...
Maybe preppin, preppin, preppin...

Well, if you're

prepping you've probably been paying attention
in general, even if you missed this particular item.

It does appear to have been developing and have
been under discussion here and there for some time.

I think the first I heard of it was when Max Keiser was
interviewing some British guy who is mainly involved
in silver(?) earlier this year. Tried to find it again to post
the link here but couldn't find it...

Did you get your news from

Did you get your news from the mind control box in sept? This is the sort of thing they keep secret.

the stranger's picture

to infinity (and beyond)

QE to infinity has consequences; mainly, displacement of the Fed “dollar” as reserve currency. This trend has been in motion for a while. The SWIFT blunder accelerated the process. JSMineset covered this repeatedly. Gerald Celente was the first to point out this particular China/Russia landmark on the road to hell. But developments in this trend 'away from the dollar' have been covered by The Privateer, The Hattrick Letter, and others.

China & Russia agreements to trade oil in their own currencies is huge of course, but further examples have become a steady stream. Global finical markets are beginning to trade oil outside the USDollar; and that, in and of itself, will accelerate the process. Aside from simply destroying the currency through inflation, forcing nations to make new arrangements, the Saudi-petro-dollar may be another weak spot.

All this has been years in the making but the whole structure is starting to creak. The paper games in metals markets has been off the charts lately. I sense extreme effort expended to get us through the November elections. We stand on the edge of great displacements before years end.

Source?

I am not a doubter, but I would LOVE it if someone could provide a credible source for this... That is, an official release by one of the states involved. This requires some serious and immediate preparations, and that is not something I want to base on someone who has been selling the same "get ready, a secret deal has been signed" story for a few years.

Unlearning and self-teaching since 2008. Thanks, Dr. Paul!

Debbie's picture

Thanks!

Thanks!

Debbie

Thanks

Appreciate your sharing. Don't get me wrong, I am not dismissing the credibility of these sites; that said, I have found an increasing number of doom and gloom sites warning that the end is right around the corner and trying to sell me all of the goods I will need. That does not mean that I think those sites are incorrect in their outlook. On the contrary, I think they are spot on. For me, the question has always been one of timing, which is why the supposed 9/6/12 announcement by China that it will back the world's oil trade with a sound currency would be so critical.
If no one has heard Pete Santilli's 220th episode from a few days ago, I highly recommend listening to it. He makes a great deal of sense out of many of the dots that I have been trying to connect with a very plausible path of least resistance: the demise of the Petrodollar is imminent, and the US has always had a contingency plan for such an eventuality, which is to "claw like a cornered cat" (to borrow Santilli's metaphor). The clawing and wild fighting is about to begin, and the powers that be know full well what that means for our way of life here at home, hence the Obama Administration fighting in court to keep the indefinite detention provisions of the NDAA in full force (recall that he said at the time he signed the bill that he was not comfortable with these provisions) and the militarization of local police forces, mass purchases of ammunitioin, etc.
I don't dismiss the truth of those websites, but that doesn't mean that anything non-MSM can be accepted without scrutiny. I am looking for an official release from the Chinese government. These are serious things happening... Too serious to ignore these fringe sites but also too serious to take as gospel from the sites. The search for truth continues...

Unlearning and self-teaching since 2008. Thanks, Dr. Paul!

This is a game changer

for the demise of the USD as the Reserve Currency.

I wonder if anybody else will jump on board with this.

Saudi Arabia and Nigeria are already doing trade and infrastructure deals with China.
Will they start selling their oil in something other than dollars?

You get Opec members joining in with selling oil in something other than US dollars and a huge devaluation of the dollar will happen almost overnight.

"In the end, more than they wanted freedom, they wanted security. They wanted a comfortable life, and they lost it all -- security, comfort, and freedom. When ... the freedom they wished for was freedom from responsibility, then Athens ceased to be free."

Be Wary of Lindsey Williams ...

The only source I can find for this info is Lindsay Williams. I've done a fairly extensive search and the only pieces I've seen are duplicates of the same original source, that quotes Williams.

Pastor Williams claims to be an "insider" in the global energy and financial markets, and frequently shows up on Alex Jones show with "inside" information about "something that is sure to change life as we know it / the sky is falling" (in so many words).

He has done this so many times now - that I've personally heard - and his predictive power so far has been pretty weak.

It's very possible this arrangement was made b/t China and Russia.

And the advice to prepare and make sure you are ready for what would happen IF this were true, is certainly good as gold.

But the source of this info is not in any way reliable IMO.

When I hear this news from:

- Economic Policy Journal (Wenzel)

- Zero Hedge

- Doug Casey

- Peter Schiff

Then I'll take this news with a whole lot more credibility.

Right now? I'm taking it with a dose of skepticism.

the stranger's picture

Be wary, sure

Be wary of Lindsay Williams, yes – but this was inevitable. If you really read Zero Hedge you'd likely know that.

Yes, inevitable

Graham is the only one that I can find, saying:

(sic) 'It started on 9/6/12. The agreement was made. Get ready for the end'

And all of the articles I've found so far are copies of the same exact press release - or they state "an article says"

These are blogs and people copying off of the same press release. From this one guy, who loves making apocalyptic statements without any verification, and more often than not has been blowing hot air.

This is what I'm skeptical of unless, its confirmed by other sources I consider reliable.

I checked zerohedge. And others. Nothing found.

?

the stranger's picture

You're prudent

I'm more concerned with with the trend, and everything that I track shows it increasing. You're prudent to search for confirmation of this story. Maybe the story is a plant or maybe it's accurate and we won't get multiple source confirmation until later down the road. I also think this trend likely to play out over many years. However, this and other indicators point large displacements soon.

this is highly inflationary.

this is highly inflationary.

the stranger's picture

dead-on SIERRAHPBT

hyper-inflationary

[US War Department phone rings.] Hello. Granada? Long time...

War Dept.: 1-800-War-Phone. Hello. May I help you?

Granada: Yes. Granada here...

War Dept.: Long time no h... What's that?

Granada: Send your troops. Our tourist business is down. Schools down... Fishing? Not since British Petroleum killed them.

War Dept.: Kind of busy here. Syria. Iraq. Afghan...

Granada: No. We don't need a big war. Just a little sabre rattling will do.

War Dept.: No can do. Let me give you just one list of countries that need to settle up. You might join their coalition.

Here there current list of Wars in Progress. They might better be labeled “Armed Conflicts” since most hardly rise to the level of a serious “war.”

  1. Afghanistan/Pakistan
  2. Iraq/Turkey
  3. Sudan/Chad/CAR
  4. Yemen
  5. Somalia/Ethiopia
  6. Syria
  7. D.R. Congo
  8. Israel/Palestine
  9. India
  10. Burma
  11. Thailand
  12. Philippines
  13. Colombia
  14. Nigeria

Granada:Will Rogers the humorist used to wonder, "Does America have scouts out looking for war?"

War Dept.: Yes. But, I am busy right now. As I said... I found this on the Internet. Perhaps they can help you find an adversary. Here are their requirements:

    To get onto my list, two or more armed groups have to be engaged in ongoing lethal violence over political objectives. Terrorism counts but organized crime doesn’t, nor does government violence against unarmed demonstrators. The Uppsala Conflict Data Project has a more extensive list (with more smaller conflicts) with more exact criteria.

Granada: Thanks. I'll give them a call. Any other recommendations?

War Dept.: Russia is nice this time of year. Later in the Fall, China would be inviting? ... Not much for coalitions. You always can ask. Good for you to call. Let me know how it goes... Bye now.
[Hang up phone. Fade to black.]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Mr. Twain

How did you get the text to TAB and center the way you have in this post. I would Very much like to post some stuff in the future with that ability.

~Good Night, And Good Luck~

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Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

In November 2000

Saddam decided to stop accepting US currency to purchase his oil.

http://www.time.com/time/magazine/article/0,9171,998512,00.html

A year later, we invaded Iraq. Coincidence? I think not.

I think foreign oil may have more importance as prop for our currency than providing for our energy needs. I suspect we buy foreign oil not so much that we need it, but to launder our weaken dollar in exchange for a more valuable commodity. Perhaps Saddam saw our US dollar for what it becoming---Monopoly money to be hauled around in a wheelbarrow. So maybe he didn't like trading his oil for a paper scam, and like Chicago gangsters our government under Bush took him out for getting wise to the con.

Conscience does not exist if not exercised

"No matter how cynical you get, it's impossible to keep up!
---Lily Tomlin