Putin Attacks Petrodollar System, Demands ‘Unfriendly’ Nations Purchase Gas in Rubles

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Breitbart: Russian leader Vladimir Putin has issued a demand that “unfriendly” countries purchase natural gas in rubles rather than dollars or euros in an apparent attack against America’s global hegemony through the petrodollar and the international sanctions levied against Russia’s central bank.

Speaking before a cabinet meeting in Moscow on Wednesday, the embattled Russian strongman said that his government will no longer accept “compromised” currencies, such as the dollar or the euro, from countries that have levied sanctions in response to his invasion of Ukraine.

“I made the decision to implement within the shortest possible time the package of measures to transfer payments — we will start with that — for our natural gas supplied to the so-called ‘unfriendly’ states to Russian rubles,” Putin said per the Moscow Times.

“It doesn’t make sense to deliver our goods to the EU or U.S. and receive payments in dollars or euros,” he added.

The move is largely seen as a retaliatory strike in response to sanctions levied against the central bank of Russia, as well as the United States and EU taking the unprecedented move to freeze Russia’s international reserves, an estimated $300 billion mostly in dollars that Moscow had previously seen as an insurance policy should it be cut off from the international financial system.

Should Putin follow through with the threat, it would force European nations to purchase hundreds of millions of euros worth of rubles per day in order to cover the costs of its hefty gas imports from Russia, thereby propping up the struggling currency, which fell substantially after the invasion of Ukraine and the subsequent enactment of Western sanctions. Read More …

Opinion: An old expression from the 1970’s Watergate scandal, that toppled the Nixon presidency, ‘follow the money’, needs a re-do to ‘follow the dollar’.

King dollar, the world’s lone reserve currency, is under attack from within …

… money printing, or quantitative easing, that began in 2009 and continued into last week created approx. $15 trillion in debt on the Federal Reserve’s books and debased the dollar, making virtually everything more expensive.

And King Dollar is under attack from outside …

… Russia and China have been vocal about an economic partnership that would expedite trade between the two nations in yuan, by-passing the US dollar, attracting attention from another bemouth nation that is not worried about climate change:

“India Ignores Western Pressure, Buys ‘Cheap’ Russian Crude”

India

With China refusing to bend the knee to Washington’s “denounce Putin” demands, it appears the Biden administration’s narrative that the world is united against Russia is creaking at the seams as Bloomberg reports that cheap Russian Urals crude is finding willing buyers in India.

And why wouldn’t they… With Urals Crude trading at a stunning $30 discount to Brent, who can blame India for snapping it up.

And there is Iran and Venezuela who would take great pride in helping to crush the dollar, making it very possible that this un-holy group of nations could attract other nations who readily admit to needing oil to run their countries.

Fed Chief Powell Says It's Possible to Have More than One Reserve Currency in the World – Diminishing the US's Dominance in the World - Miami Standard

The final nail in the dollar’s coffin, however, was Federal Reserve Chairman Jay Powell’s March 2, 2022, statement that “it is possible to have more than one word reserve currency” took the proverbial cake.

If/when that happens, the US standard of living will change forever as the nations sell dollars to purchase whichever currency has world reserve status.

There will be only one form of currency when the final dictator takes the world stage. No other generation in history had the ability to control buying and selling as prophesied in Revelation 13:16-17.

Follow the dollar.