patrick.net

Someone is buying lots of RUBs, USD and EUR as far as its currency goes....
The war started at the arrow 2/24 and it looks like someone is hedging the bet Putin tells them all
to bring me GOLD BTC or RUBs or fuck off... Funny the dummies from Europe say he "has to" honor existing
oil contracts with EURs... There is a way but at the end of the day Putim may take the EURs
but will near instantly sell off EURs (catch 22). Europe's FX and equities are taking a smack down as I type .Hold my beer.
The only thing saving the USD is all those shorts on commodities before it all goes nickle on their ass's

Cash says

Funny the dummies from Europe say he "has to" honor existing
oil contracts with EURs...

contractually he doesn't need to honor anything from the minute on the unilateral sanctions were imposed. We'll see how this develops.

Putin's equity markets on recovery and they raised int. rate to 20%.
Could you even imagine the fed doing the same? Of coarse not.

What happens on the ground vs. the shadow dancing and sword rattling of the politicos on the world stage don't always track with each other. Reports are that USA and Europe continue to 'buy' Russian gas and oil by whatever means, and somehow Russia continues to supply it.

@Patrick, I'm going to start flagging comments if the person is just flinging poo, meaning only shares opinion, never reads anything, and spouts non-stop hatred. I'm all for free speech, but this kind of vitriol benefits no one.

@NuttBoxer Please don't do that unless the comment is about you personally.

Everyone has the right to his or her opinion about politics.

mell says

Cash says

Funny the dummies from Europe say he "has to" honor existing
oil contracts with EURs...

contractually he doesn't need to honor anything from the minute on the unilateral sanctions were imposed. We'll see how this develops.

He needs the dough.

Eric%20Holder You've posted no relevant points, have failed to read the OP article, or even your own source, and just repeat the same opinion over-and-over. Change the record never-Trum.. Err never-Putin'er.

NuttBoxer says

Eric%20Holder You've posted no relevant points, have failed to read the OP article, or even your own source, and just repeat the same opinion over-and-over. Change the record never-Trum.. Err never-Putin'er.

I read the article. Which "my own source" have I "failed to read"? And where is your coherent counter-points to my "opinion"? Stop whining and show us the depth of your knowledge and reasoning abilities. So far you came across as very shallow wrt the topics like Eastern European history, for example, of which I have much better grasp due to my professional interest and involvement in the area since mid-90s.

Back to ignore then. But it's sad that someone with so little to share is being allowed diarrhea of the keyboard instead of keeping the conversation focused on relevant talking points. There is room for moderation beyond just personal insults if someone is just repeating themselves, and does it so often. Especially when the comments are constantly sarcastic and hate-filled. His behavior is the equivalent to shouting over everyone who disagrees.

NuttBoxer says

Back to ignore then.

So, not even an attempt to show knowledge and reasoning abilities? So sad.

Eric Holder says

Which "my own source" have I "failed to read"?

BUELLER?

BTW way UK is buying RUBs up like the others as Putin pummels them all silly.
mell says

contractually he doesn't need to honor anything from the minute on the unilateral sanctions were imposed. We'll see how this develops.

Exactly, but no matter Russia will come out on top with what ever choice Europe or for that matter UK and USA makes.
Putin has the drop on them all, we live in a total different world starting 2/24/2022.

@Eric Holder:

Please note the example of Gary back in the day. Take a step back - we're not your enemies. Think of it like eating - most people would venture a taste of something; on the other hand, almost everyone hates being force fed or firehosed.

Peace.

Patrick says

Thing is, no one is going to sell gold for $1550/ounce when they can get $1925/ounce. So I don't see how the Russian bank's announcement changes anything.

Latest exchange rate is up to approx. $1825/ounce from $1550...in less than 4 days

remember when fed bailed out hedge funds in 2019? they are all broke.

komputodo says

Patrick says

Thing is, no one is going to sell gold for $1550/ounce when they can get $1925/ounce. So I don't see how the Russian bank's announcement changes anything.

Latest exchange rate is up to approx. $1825/ounce from $1550...in less than 4 days

If you read the article, no one is going to sell at that price. Russia isn't attacking the physical gold market, but the paper one, which is highly manipulated. This is really a move to expose the real value of commodities in order to increase the value of the Ruble. In doing so they attack the fiat markets, and threaten the entire fake global economy. And because they have the physical resources, Russia can do this.

NuttBoxer says

If you read the article, no one is going to sell at that price.

the article said nobody will sell at $1550/ounce....and still nobody will sell at $1825/ounce....but will they sell at $2400/ ounce?

NuttBoxer says

This is really a move to expose the real value of commodities in order to increase the value of the Ruble.

which just happened.....the ruble is up significantly against the dollar....So much for the MOTHER OF ALL SANCTIONS.....Like most plans by idiot US pols, the sanctions ended up fucking up the USA.

Eric Holder says

The whole "gas for rubble" idea has already died the very predictable quick death: "Germany's government said on Wednesday it has received assurances from Russia that Europe would not have to pay for Russian gas supplies in rubles."

So did the "Death of the Ruble" which lasted no more than a few weeks;



NuttBoxer says

If you read the article, no one is going to sell at that price. Russia isn't attacking the physical gold market, but the paper one, which is highly manipulated. This is really a move to expose the real value of commodities in order to increase the value of the Ruble. In doing so they attack the fiat markets, and threaten the entire fake global economy. And because they have the physical resources, Russia can do this.

This. Real value is in essential commodities, and yeah, gold is essential to much hi-tech. Oil is absolutely necessary as well. REITs aren't. The Neoliberals have been getting resources for a steal using printed money, the gravy train is about to come to an end. We knew this for years, the only question is the speed of it.

DooDahMan says

The highly esteemed economist Michael Hudson called this but no one in this country saw fit to report it or similar warnings from anyone/anywhere else. Go figure.

Report it to whom?

AmericanKulak says

The whole "gas for rubble" idea has already died the very predictable quick death: "Germany's government said on Wednesday it has received assurances from Russia that Europe would not have to pay for Russian gas supplies in rubles."

Ummmm...It was rubles for gas from "unfriendly countries". Seems like germany decided to stop virtue signaling and restore good relations with Russia and simply telling the usa and its sanction to go fuck themselves.

komputodo says

Ummmm...It was rubles for gas from "unfriendly countries". Seems like germany decided to stop virtue signaling and restore good relations with Russia and simply telling the usa and its sanction to go fuck themselves.

Looks like a mistake with the quote somehow-That was Eric Holder, not me.