patrick.net

Soo, the Cretin of Kremlin sold his oil to India to the tune of $38B. Is there a problem? Yes, there is: he sold all that oil not for actual $38B but for $38B worth of Rupees which he can't convert to anything else and can't spend anywhere outside India. Except he doesn't want or need anything India has to offer and India doesn't offer anything he wants/needs. Seeing his conundrum Indians have graciously offered to allow the Cretin of Kremlin to invest in some Indian companies and at least get some dividends.... drumroll.... in Rupees!

Hooray for BRICS!!! Hooray for de-dollarisation!!!

Yup. Exactly right, Eric Holder.

Same problems arise with the Brazillian real, Chinese yuan (although in that case the Chinese simply refused to redeem for the Russians) and South African rand.

https://www.politico.eu/article/india-has-russia-kremlin-over-crude-oil-barrel/

How about that, @indc the Indian rupee isn't even worth much to desperate Russians. Can still be used as toilet paper when Indians squat beside the road tho, I am sure.

@komputudo ^^one of the reasons why the world needs a reserve currency. Doesn't HAVE to be the dollar, technically. But any decent level of global trade requires one.

Trollhole says

Doesn't HAVE to be the dollar, technically.

But it will need a deep well of liquidity and a large bond market like uhhh, we have.

just_passing_through says

But it will need a deep well of liquidity and a large bond market like uhhh, we have.

Bingo! And don't forget non-bond assets, like R/E.

This was why the Japanese were buying up golf courses, most of Hawai, Rockefeller Centre, etc, Then 15 years later, it was the Chinese.

UK, Canada and Oz/NZ are next up, pretty much in that order. But Canada recently started to limit foreign R/E purchases and NZ stopped it about 5 years ago.

Europe was on track until around 2008 when they raided foreign deposits in a Cypress bank to bail out the European owners. Until then, the euro was on track to at least challenge the dollar for reserve currency status.

Eric Holder says

allow the Cretin of Kremlin to invest in some Indian companies and at least get some dividends

They can invest in companies that export to Russia like electronic equipment, machinery, and fruits and vegetables.

https://tradingeconomics.com/india/exports/russia

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ad says

Eric Holder says

allow the Cretin of Kremlin to invest in some Indian companies and at least get some dividends

They can invest in companies that export to Russia like electronic equipment, machinery, and fruits and vegetables.

https://tradingeconomics.com/india/exports/russia

Yeah, rest of the world are not investor friendly to foreigners like the Anglo-American sphere is.

Even first tier nations like Japan and Germany.

Trollhole says

Yeah, rest of the world are not investor friendly to foreigners like the Anglo-American sphere is.

Even first tier nations like Japan and Germany.

Can Russia buy stocks of Indian companies ? If not owning directly, then buy shares of companies on the stock market in India.

Still have to liquidate them in Indian rupees. But India does export to Russia as far as electronics, machinery, and agriculture products.

ad says

Can Russia buy stocks of Indian companies ? If not owning directly, then buy shares of companies on the stock market in India.

Don't know. Doubt it. India is corrupt as hell and foreigners get burned.

This is why the rupee isn't a viable alternative to the dollar as a reserve currency or as part of a basket of other loser currencies used to set up some sort of BRICS currency.

ad says

But India does export to Russia as far as electronics, machinery, and agriculture products.

But there is only so much of that Russia needs or India is allowing Rissia to buy.

Again: R-E-A-D

https://www.politico.eu/article/india-has-russia-kremlin-over-crude-oil-barrel/

Yes Trollhole, I read it : "New Delhi needs to give approval for larger transactions, and so far it's not doing that for its oil spending. Instead, India has reportedly offered an unconventional solution — reinvesting rupees into its own economy. "Our Indian partners have assured us that they will suggest promising areas where they could be invested,” Lavrov said."

This is a similar arrangement to China "investing" in Central America and Africa.

ad says

Yes Trollhole, I read it : "New Delhi needs to give approval for larger transactions, and so far it's not doing that for its oil spending. Instead, India has reportedly offered an unconventional solution — reinvesting rupees into its own economy. "Our Indian partners have assured us that they will suggest promising areas where they could be invested,” Lavrov said."

This is a similar arrangement to China "investing" in Central America and Africa.

1) thank you for reading it.
2) forcing Russia to do with its rupees what it doesn't want to do just proves why the rupee is never going to be a reserve currency.

Trollhole says

2) forcing Russia to do with its rupees what it doesn't want to do just proves why the rupee is never going to be a reserve currency.

Yes India has total leverage over Russia in this case. They are getting a major boost to their economy from this due to the sanctions on Russia.

Russia better send its brightest and best down there to monitor their investments. But I think the way India's economy is growing, I don't think it will be bad investments for Russia.
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ad says

But I think the way India's economy is growing, I don't think it will be bad investments for Russia.
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Oh, they will rip them off via fraud big time:

Economic crime and fraud continue to be a significant challenge for Indian companies, with 66% of organisations experiencing at least one form of economic crime in the past two years as per the first edition of the report.

https://www.pwc.in/press-releases/2023/economic-crime-and-fraud-continue-to-plague-indian-companies-pwc-india.html

Another reason the Indians are doing this I bet: they don't want the Russians to cause price increases in certain areas in the Indian economy, like food or copper/iron, etc.

PedoIwog says

ad says

But I think the way India's economy is growing, I don't think it will be bad investments for Russia.
.

Oh, they will rip them off via fraud big time:

Economic crime and fraud continue to be a significant challenge for Indian companies, with 66% of organisations experiencing at least one form of economic crime in the past two years as per the first edition of the report.

https://www.pwc.in/press-releases/2023/economic-crime-and-fraud-continue-to-plague-indian-companies-pwc-india.html

Another reason the Indians are doing this I bet: they don't want the Russians to cause price increases in certain areas in the Indian economy, like food or copper/iron, etc.

Good point that India is going to benefit the most from Russia selling it oil and then putting restrictions on payment for that oil.

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The solution to all currency problems is simply to use silver or gold by weight once again, as was done for thousands of years.

Physical shipment is not necessary if there exists at least one trustworthy bank in the world. Amsterdam's Wisselbank fulfilled this role for centuries before finally defaulting.

Patrick says

The solution to all currency problems is simply to use silver or gold by weight once again, as was done for thousands of years.

Yeah a family member told me many years ago that a one ounce gold coin use to buy a very nice three piece suit with socks, shoes, white shirt and tie.

He said the same coin should continue to buy the same quality suit and accessories.

That is how gold is suppose to maintain its purchasing power.

Patrick says

The solution to all currency problems is simply to use silver or gold by weight once again, as was done for thousands of years.

Deprives the banking system of absolute power, and the government is under the banking system, and is bribed by it.

ad says

Patrick says

The solution to all currency problems is simply to use silver or gold by weight once again, as was done for thousands of years.

Yeah a family member told me many years ago that a one ounce gold coin use to buy a very nice three piece suit with socks, shoes, white shirt and tie.

He said the same coin should continue to buy the same quality suit and accessories.

That is how gold is suppose to maintain its purchasing power.

One person's nice suit is another's cheap rags he won't be seen dead in.

One of the nations getting ready to dethrone the dollars:

https://m.youtube.com/watch?v=Iiny1GrfhYM

It's a good thing the Globalists and the West have those HAARP and DEWs to surreptitiously destroy the BRICS malfeasors. Otherwise, we might have to nuke them.

RWSGFY says

One of the nations getting ready to dethrone the dollars:

https://m.youtube.com/watch?v=Iiny1GrfhYM

Yes. Notice how the nations involved are mostly Loser Nations?

PumpingRedheads says

RWSGFY says

One of the nations getting ready to dethrone the dollars:

https://m.youtube.com/watch?v=Iiny1GrfhYM

Yes. Notice how the nations involved are mostly Loser Nations?

Indeed.

UAE no longer using Federal Reserve debt notes for oil trades, and recently joined BRICS. BRICS isn't the next big thing by any means, just another sign the US fiat currency has had it. Hope you know what real diversification looks like...

NuttBoxer says

Hope you know what real diversification looks like...

Does it look like $38B worth of Soviet money in Rupees currently stuck in India w/o any way to be exchanged, because the only way Indian CB allows it to be spent is on some Indian goods (Soviets don't want any, because they need weapons, electronics and industrial machinery for their warmongering effort) or as investment in some Indian companies which would pay dividends in ... drumroll! ... Rupees again?

Probably not. Whatever "real diversification" looks like, accumulating some nonconvertible shitcurrency ain't it.

Why would American's be holding Rupees? Are you so obsessed with your mother country, you didn't understand my warning is for US residents? Fuck, just move to Russia and get it over with.

NuttBoxer says

Why would American's be holding Rupees?

Why would Americans be shitting on the dollar and promoting weird shit like BRICS at every turn, like it's the best thing since sliced bread?

NuttBoxer says

Are you so obsessed with your mother country, you didn't understand my warning is for US residents? Fuck, just move to Russia and get it over with.

My mother country? Is this another confession through projection?

Hey man, you're one who can't stop talking about Russia. Turning every conversation into a Russian topic, worrying about how the Russians will spend their Rupees and stave off collapse.

Now if you can stop fapping to your Russian porn for five seconds, maybe you'd see our government has fucked us, and our currency is about to do the same on a whole new level. Maybe you'd think about some ways to protect whatever fiat wealth you've accumulated so your life doesn't collapse like the USSR did.

But maybe you're just too distracted hating a country that doesn't give a shit about you to realize the one you live in is about to flush your ass.

But maybe you can tell me. Why would an American be want to promote a banking system designed to enslave us? Sounds like something a Russian saboteur would do, or at least a traitor. See, you clearly don't support honesty and a strong America because you never want to face, or call out anything that's destroying our country. You have more in common with the Kremlin than you'd like to imagine.

NuttBoxer says

Hope you know what real diversification looks like...

NuttBoxer says

UAE no longer using Federal Reserve debt notes for oil trades, and recently joined BRICS.

Sure they are. Sure they are.

Patnet needs a system for removing zero effort comments that add nothing. Or a bot to lavish attention on people who obviously are attention deprived...

NuttBoxer says

Patnet needs a system for removing zero effort comments that add nothing. Or a bot to lavish attention on people who obviously are attention deprived...

Sure it does. Sure it does.

And hey! Let's have a committee of Deep State fucks who decide what is a 'zero comment that adds nothing'.

NuttBoxer says

Patnet needs a system for removing zero effort comments that add nothing.

Like just literally ignoring them or implementing the ignore feature?


But that’s not enough for some. Some are totalitarian bullies by nature trying to make the world a safe space for their own feelings. Hint, that never works, the easily offended never overcome their own feelings. No matter how hard they try to control others, they cannot control themselves and how they manage their own emotions. That is their real problem.

We can just stick with the puppets. Anyone who dismisses the crisis the US and their fiat currency is in are obviously rooting for our countries downfall, whether they understand that or not. Hope those strings aren't too tight...

The WHOLE world is in crisis, not just the USA. But scripture tells us two things that everyone living in the end times should know. 1: it is going to get worse and worse until the end comes. 2: Then Jesus will return to make things right again.

With what is going on in the world it is clear His return is imminent. Anyone who dismisses this will either be ashamed or worse yet terrified at His coming. Don’t dismiss the writing on the wall. Trust Jesus to save you from your sins and He will forgive you, wash you clean in His eyes and rescue you from the wrath to come.

NuttBoxer says

We can just stick with the puppets. Anyone who dismisses the crisis the US and their fiat currency is in are obviously rooting for our countries downfall, whether they understand that or not. Hope those strings aren't too tight...

Confused. Does that have to do with taxation too?

https://twitter.com/CryptoNewsYes/status/1638312091399471104

One indicator that there is not runaway debt accumulation is debt to GDP ratio. At least it has steadied around 120%.

It was about 105% from 2016 to the start of the pandemic in early 2020.

If the ratio drops to 110% within the next 2 years then the risks of a debt crisis are further reduced, hence this defeats the argument that the US federal government is destroying or abandoning the dollar.

https://fred.stlouisfed.org/series/GFDEGDQ188S

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The question is how liquid and valuable is the US dollar ? If you have a dollar, then how easy is it to buy services and goods ?

Russia is being paid in Indian currency for oil it exports to India. How easy is for Russia to use that India currency to buy goods and services that it needs ?

buy rice, coffee, mangoes and software services from India ?

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