EU member-states now have permission to pay for oil and natural gas in rubles

submitted by BravoVictor from voxday.net

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[–]aaarrgh 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (0 children)

It's that or freeze in winter. But there are still smart 'leaders' who want to get rid of that gas from those naughty Russians.

[–]jostiniane 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

So we are not winning yet?

[–]jet199 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

But I thought they killed leaders who did this?

You mean that isn't true and their people just had enough of their murdering ways?

[–]F-R-O_G 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Clown world. Smoke and mirrors. Dog and pony shows to entertain the dumb Muggles, while the magic worshipping "Elite" have it going on.

[–]Kuasocto 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

So that's good news, right?

Wait, why does anyone even need "permission" for that shit in the first place, it should all be up to the seller to decide what currency he wants to be paid in.

[–]BravoVictor[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

The US strong arms most countries into using dollars to buy fuel, (i.e. the petrodollar), creating an international market for US dollars. This is useful to the US in two way:

  1. It creates a huge amount of soft power. The US can more easily engage in economic warfare against countries just by cutting off their access to dollars or freezing their US dollar accounts.
  2. It helps the US negate its massive debt by deflating its currency. If the US just printed dollars, as it is, but no one was buying them, they'd encounter massive inflation and default overnight. But by forcing everyone to trade fuel in dollars, that effectively helps partially tie its value to oil, and counter inflation, indirectly allowing the rest of the world to pay for US debt.