Post by account_disabled on Feb 20, 2024 6:31:56 GMT 1
The latest sanctions against Russia caused a sudden drop in the ruble, from 81 rubles to the dollar, to 150 rubles to the dollar. Although the invasion of Ukraine went badly for the Russians and the sanctions did a lot of damage, from March 7 to April 3, 2022, the ruble returned to 85 rubles per dollar. What happened? It's very simple: Russia declared that starting April 1, gas deliveries to "unfriendly" countries must be paid in rubles, or in gold. The Russian central bank also agreed to buy gold at 5,000 rubles per gram, effectively pegging the ruble to both gold and oil. The Russians managed to strengthen their currency by (a) increased demand for rubles (eg gas importers had to buy rubles to buy gas) and Read also: Korreshi's orders for the protesters: Take bread, pie and buttermilk with you! Horoscope, Tuesday, February 20, 2023/ What the stars have predicted for your sign (b) binding it to gold.
Russia just announced that Brazil Telegram Number Data this rule will be the prototype for other commodities in the future (eg wheat, chemical fertilizers, etc.) The terms of trade also shifted massively to Russia's advantage, (eg increased prices of energy and food-related goods, which are Russia's main exports). In this financial war, each side played to their strengths – the US with control of the US dollar payment system, the Russians with their power in energy (being the world's largest exporter of gas and exporter of third largest oil). Zoltan Pozsar, renowned analyst at Credit Suisse and former official at the US Treasury Department, stated that we are entering a new monetary order, which he calls Bretton Woods III: “Commodities are real resources… and resource inequality cannot be solved through quantitative easing… you can print money, but not oil to heat, or wheat to eat”.
According to Pozsar, Bretton Woods I was the post-World War II agreement that created a US dollar exchangeable for gold as the global reserve currency. Bretton Woods II began in 1971, when Nixon "temporarily" suspended the exchange of the US dollar for gold. “Now, we are witnessing the birth of Bretton Woods III – a new monetary world order, centered on commodity-based currencies in the East, that will probably weaken the Euro-dollar system and contribute to inflationary forces in the West… More before, the West could simply say: "our currency, your problem". Now, the East can say: "our commodity, your problem".
Russia just announced that Brazil Telegram Number Data this rule will be the prototype for other commodities in the future (eg wheat, chemical fertilizers, etc.) The terms of trade also shifted massively to Russia's advantage, (eg increased prices of energy and food-related goods, which are Russia's main exports). In this financial war, each side played to their strengths – the US with control of the US dollar payment system, the Russians with their power in energy (being the world's largest exporter of gas and exporter of third largest oil). Zoltan Pozsar, renowned analyst at Credit Suisse and former official at the US Treasury Department, stated that we are entering a new monetary order, which he calls Bretton Woods III: “Commodities are real resources… and resource inequality cannot be solved through quantitative easing… you can print money, but not oil to heat, or wheat to eat”.
According to Pozsar, Bretton Woods I was the post-World War II agreement that created a US dollar exchangeable for gold as the global reserve currency. Bretton Woods II began in 1971, when Nixon "temporarily" suspended the exchange of the US dollar for gold. “Now, we are witnessing the birth of Bretton Woods III – a new monetary world order, centered on commodity-based currencies in the East, that will probably weaken the Euro-dollar system and contribute to inflationary forces in the West… More before, the West could simply say: "our currency, your problem". Now, the East can say: "our commodity, your problem".