Showing posts with label A brilliant ploy. Show all posts
Showing posts with label A brilliant ploy. Show all posts

Friday, December 19, 2014

Free Fall of the Ruble – A brilliant ploy of Russian economic Wizards? Who’s chess game?





by Peter Koenig 

The world is still hell-bent for hydrocarbon-based energy. Russia is the world’s largest producer of energy. Russia has recently announced that in the future she will no longer trade energy in US dollars, but in rubles and currencies of the trading partners. In fact, this rule will apply to all trading. Russia and China are detaching their economies from that of the West. To confirm this decision, in July 2014 Russia’s Gazprom concluded a 400 billion gas deal with China, and in November this year they signed an additional slightly smaller contract – all to be nominated in rubles and yuan. 

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