In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.
More Bad News on the Horizon
HAIRY
Member Posts: 23,606
Putin proposes creation of ruble-denominated oil, gas exchange
By RIA
05/15/06 -- -MOSCOW, May 10 (RIA Novosti) - President Vladimir Putin said Wednesday that a ruble-denominated oil and natural gas stock exchange should be set up in Russia.
Speaking before both chambers of parliament, cabinet members, and reporters, Putin said: "The ruble must become a more widespread means of international transactions. To this end, we need to open a stock exchange in Russia to trade in oil, gas, and other goods to be paid for with rubles."
"Our goods are traded on global markets. Why are not they traded in Russia?" Putin said.
And another piece of bad news for the US economy:
Iran to require oil payments in euros
By United Press International
TEHRAN, May 15 (UPI) -- Iranian President Mahmoud Ahmadinejad announced Friday that in July Iran will abandon dollar payments for its oil and natural gas exports in favor of euros.
The move comes amid a standoff between Tehran and Washington over Iran's nuclear fuel enrichment program. The Bush administration insists the program is cover for a nuclear weapons program, a charge that Iran denies.
All current international oil transactions on the New York Mercantile Exchange and London's International Petroleum Exchange are priced in dollars.
Middleeastforex.com reported May 13 that Ahmadinejad announced the change Friday during a visit to Baku, Azerbaijan.
Many political observers see the decision as an attempt to pressure Washington, which is attempting to line up other U.N. Security Council members to act against Iran for its nuclear policies.
Iran has also proposed establishing a euro-based Iranian oil bourse to compete with NYMEX and the IPE. The proposal was first put forward in the beginning of the Third Development Plan (2000-2005), and began to receive serious attention in 2005. Some observers speculate that the Iranian switch to euros could negatively affect the dollar, as many central banks from oil importing nations could choose to stock up their currency reserves with euros rather than dollars.
By RIA
05/15/06 -- -MOSCOW, May 10 (RIA Novosti) - President Vladimir Putin said Wednesday that a ruble-denominated oil and natural gas stock exchange should be set up in Russia.
Speaking before both chambers of parliament, cabinet members, and reporters, Putin said: "The ruble must become a more widespread means of international transactions. To this end, we need to open a stock exchange in Russia to trade in oil, gas, and other goods to be paid for with rubles."
"Our goods are traded on global markets. Why are not they traded in Russia?" Putin said.
And another piece of bad news for the US economy:
Iran to require oil payments in euros
By United Press International
TEHRAN, May 15 (UPI) -- Iranian President Mahmoud Ahmadinejad announced Friday that in July Iran will abandon dollar payments for its oil and natural gas exports in favor of euros.
The move comes amid a standoff between Tehran and Washington over Iran's nuclear fuel enrichment program. The Bush administration insists the program is cover for a nuclear weapons program, a charge that Iran denies.
All current international oil transactions on the New York Mercantile Exchange and London's International Petroleum Exchange are priced in dollars.
Middleeastforex.com reported May 13 that Ahmadinejad announced the change Friday during a visit to Baku, Azerbaijan.
Many political observers see the decision as an attempt to pressure Washington, which is attempting to line up other U.N. Security Council members to act against Iran for its nuclear policies.
Iran has also proposed establishing a euro-based Iranian oil bourse to compete with NYMEX and the IPE. The proposal was first put forward in the beginning of the Third Development Plan (2000-2005), and began to receive serious attention in 2005. Some observers speculate that the Iranian switch to euros could negatively affect the dollar, as many central banks from oil importing nations could choose to stock up their currency reserves with euros rather than dollars.
Comments
The Moslem world does not want peace.
And another piece of bad news for the US economy:
Me thinks this is actually GREAT news for Hairy.[;)][}:)]
Too old to live...too young to die...
Do you not want me here?
Liked ya better as jist a normal guy.
Clouder..
See?
The Moslem world does not want peace.
And how do you come to this conclusion? BTW, when did Russia become Muslim?
quote:Originally posted by HAIRY
And another piece of bad news for the US economy:
Me thinks this is actually GREAT news for Hairy.[;)][}:)]
Why the attack? My dollar gets spent for gas just as yours does.
The ruble is much weaker than the dollar, the euro is stronger. So euro exchange=bad, ruble exchange=good
But I am sorry that I disappoint you.
Too old to live...too young to die...
quote:Originally posted by amsptcds
See?
The Moslem world does not want peace.
And how do you come to this conclusion? BTW, when did Russia become Muslim?
Sorry... I should have qualified that...
I saw that (in the article or whatever above) Iran will demand Euros for Oil, in lieu of dollars.
And I figure that if the really want peace, they would not have done such a thing, until the major shift to euros comes.