Ruble Hits 100 Against the Euro As Currency Collapse Accelerates

[Mosamania]

Saudi Arabia is really doing a number on Russia, same tactic used to bring the soviet union to its knees is being played out again. This guy am I right?

 

[jhungary]

youre dumb, gold was since millenia a currency, once it was used and latter the currencies were pegged to gold like the dollar until the 70s. Learn history instead your retarded western propaganda

lol.........

Too Freaking funny, I don't even know where to start telling you, you are wrong. This is wrong in any perceived level.

Well, first of all, you do not have a sense on how currency works. For currency to work, one have to have a reserve so a free market cannot buy or sell that reserve and that reserve can never be touched, hence creating a price for it. Hence whatever you use as a currency have to be independent from the trading market. Otherwise everything link from the currency would be depending on the currency. In short, your "currency" would have a different value EVERYDAY. That thanks to the supply and demand of gold.

Now I don't know about you, but 1 Rouble must be equal to 1 Rouble today, tomorrow or yesterday and any given day. But Gold worth 1128 USD/ounce today, but worth 1125 USD/ounce yesterday and probably a different rate tomorrow. Tell me, how in does it make sense if 1 rouble worth 1 rouble today and worth 1.25 rouble tomorrow lol.

You cannot use gold as a currency while still trading for it. or you cannot "Define" a value on it.

Secondly, the world stopped using "Gold Standard " in 1930s, after the great depression, the one you keep referring to that used until 1970s is called "Gold Exchange Standard" or the "Bretton Woods system"" That's different dude, did you even know that??

Read up please, Books is your friend

Bretton Woods system - Wikipedia, the free encyclopedia

Gold standard - Wikipedia, the free encyclopedia

lol....idiocy knows no bound

edit :: Typo. oops.

 

[senheiser]

lol.........

Too Freaking funny, I don't even know where to start telling you, you are wrong. This is wrong in any perceived level.

Well, first of all, you do not have a sense on how currency works. For currency to work, one have to have a reserve so a free market cannot buy or sell that reserve and that reserve can never be touched, hence creating a price for it. Hence whatever you use as a currency have to be independent from the trading market. Otherwise everything link from the currency would be depending on the currency. In short, your "currency" would have a different value EVERYDAY. That thanks to the supply and demand of gold.

Now I don't know about you, but 1 Rouble must be equal to 1 Rouble today, tomorrow or yesterday and any given day. But Gold worth 1128 USD/ounce today, but worth 1125 USD/ounce yesterday and probably a different rate tomorrow. Tell me, how in does it make sense if 1 rouble worth 1 rouble today and worth 1.25 rouble tomorrow lol.

You cannot use gold as a currency while still trading for it. or you cannot "Define" a value on it.

Secondly, the world stopped using "Gold Standard " in 1930s, after the great depression, the one you keep referring to that used until 1970s is called "Gold Exchange Standard" or the "Bretton Woods system"" That's different dude, did you even know that??

Read up please, Books is your friend

Bretton Woods system - Wikipedia, the free encyclopedia

Gold standard - Wikipedia, the free encyclopedia

lol....idiocy knows no bound

edit :: Typo. oops.

wall of nonsense propaganda LOL i wont read your post so you feel bad for wasting your time

 

[Superboy]

dollar to ruble dropped to 59

 

[jhungary]

wall of nonsense propaganda LOL i wont read your post so you feel bad for wasting your time

Of course it's nonsense . You
1.) Don't know how Economy Works
2.) Don't know how Currency Works
3.) Don't know the different between Gold Standard and Gold Exchange standard

That's pretty much all there is in this kind of topic, and you know absolutely zero out of all 3, then of course what I said is a nonsense.

Knowledge is your friends, dude, it's time to read up

 

[Superboy]

dollar to ruble dropped to 58

 

[rmi5]

Saudi Arabia is really doing a number on Russia, same tactic used to bring the soviet union to its knees is being played out again. This guy am I right?

That's exactly what I was thinking about. North Caucasus(Dagestan, Chechenya, Ossetia, Adyghe), and Tatasran and Bashqisrtan, and Yakutia would be the first ones on the disintegration list
The old empire needs changes ...

 

[Hindustani78]

China foreign minister says willing to help Russia| Reuters
BEIJING Sun Dec 21, 2014 10:29pm EST

(Reuters) - China is willing to help Russia if needed but believes that the country has the ability to overcome its current economic problems, Chinese Foreign Minister Wang Yi was quoted as saying in a state newspaper on Monday.

The ruble has dropped about 45 percent against the dollar this year, suffering particularly steep falls early last week. President Vladimir Putin has declined to call it a crisis and said the currency would eventually rise again.

Wang, speaking to reporters over the weekend, said that Russia also had the "wisdom" to get out of difficulties, the official China Daily reported.

"If the Russian side needs, we will provide necessary assistance within our capacity," he said, noting that the two countries had consistently helped each other.

He did not elaborate.

China's trade minister, also speaking at the weekend, proposed more use of China's currency in settling trade with Russia in the face of the weaker ruble to ensure safe and reliable trade.

China and Russia have close diplomatic and economic ties, particularly in the energy sector.

However, China has largely stayed out of the crisis over Ukraine, trying not to be seen to take sides and calling for talks to resolve the issue.

China's exports to Russia rose 10.5 percent and imports climbed 2.9 percent in the first three quarters of the year from the same period in 2013, with total trade valued at $70.78 billion.

China's foreign exchange regulator said last week that they were closely monitoring the slide in the ruble but that they hadn't seen a significant impact on cross-border capital flows.

(Reporting by Ben Blanchard; Editing by Joseph Radford)

Saudi Arabia is really doing a number on Russia, same tactic used to bring the soviet union to its knees is being played out again. This guy am I right?

‘No conspiracy behind oil prices’ | Front Page | Saudi Gazette
Last updated: Sunday, December 21, 2014 10:50 PM

ABU DHABI — Saudi Oil Minister Ali Al-Naimi dismissed claims of a “plot” to push prices down for political goals, insisting that the Kingdom’s policy is “based on pure economic principles.”

“Recently, a number of articles and reports claimed that Saudi Arabia is engaged in a conspiracy, using oil prices, to undermine other oil producers and non-conventional suppliers.

Certainly, such claims are baseless and indicate a lack of understanding, deliberate misjudgment, or otherwise.

Saudi Arabia’s oil policy is predicated on mere economics, no more, no less,” he told an energy forum in Abu Dhabi on Sunday.

Naimi said he was confident world prices would improve after a slide he blamed partly on “lack of cooperation” by producers outside OPEC.

“I am confident that oil markets will recover... and that oil prices will improve,” Naimi told an energy forum in Abu Dhabi.

He said the sharp drop in prices was partly due to the “lack of cooperation by main producing countries outside OPEC, misleading information and speculators’ greed.”

Naimi, whose country is OPEC’s leading producer, said producers from outside OPEC would eventually “realize the importance of cooperation to secure new fair prices.”

He predicted that “high-cost producers will not continue to increase production.”

He said oil-producing Arab countries should continue to play a positive role in the stabilization of the global oil market and promotion of international cooperation in this regard, and they should strive to keep oil as an essential source of energy.

 

[Mosamania]

China foreign minister says willing to help Russia| Reuters
BEIJING Sun Dec 21, 2014 10:29pm EST

(Reuters) - China is willing to help Russia if needed but believes that the country has the ability to overcome its current economic problems, Chinese Foreign Minister Wang Yi was quoted as saying in a state newspaper on Monday.

The ruble has dropped about 45 percent against the dollar this year, suffering particularly steep falls early last week. President Vladimir Putin has declined to call it a crisis and said the currency would eventually rise again.

Wang, speaking to reporters over the weekend, said that Russia also had the "wisdom" to get out of difficulties, the official China Daily reported.

"If the Russian side needs, we will provide necessary assistance within our capacity," he said, noting that the two countries had consistently helped each other.

He did not elaborate.

China's trade minister, also speaking at the weekend, proposed more use of China's currency in settling trade with Russia in the face of the weaker ruble to ensure safe and reliable trade.

China and Russia have close diplomatic and economic ties, particularly in the energy sector.

However, China has largely stayed out of the crisis over Ukraine, trying not to be seen to take sides and calling for talks to resolve the issue.

China's exports to Russia rose 10.5 percent and imports climbed 2.9 percent in the first three quarters of the year from the same period in 2013, with total trade valued at $70.78 billion.

China's foreign exchange regulator said last week that they were closely monitoring the slide in the ruble but that they hadn't seen a significant impact on cross-border capital flows.

(Reporting by Ben Blanchard; Editing by Joseph Radford)



‘No conspiracy behind oil prices’ | Front Page | Saudi Gazette
Last updated: Sunday, December 21, 2014 10:50 PM

ABU DHABI — Saudi Oil Minister Ali Al-Naimi dismissed claims of a “plot” to push prices down for political goals, insisting that the Kingdom’s policy is “based on pure economic principles.”

“Recently, a number of articles and reports claimed that Saudi Arabia is engaged in a conspiracy, using oil prices, to undermine other oil producers and non-conventional suppliers.

Certainly, such claims are baseless and indicate a lack of understanding, deliberate misjudgment, or otherwise.

Saudi Arabia’s oil policy is predicated on mere economics, no more, no less,” he told an energy forum in Abu Dhabi on Sunday.

Naimi said he was confident world prices would improve after a slide he blamed partly on “lack of cooperation” by producers outside OPEC.

“I am confident that oil markets will recover... and that oil prices will improve,” Naimi told an energy forum in Abu Dhabi.

He said the sharp drop in prices was partly due to the “lack of cooperation by main producing countries outside OPEC, misleading information and speculators’ greed.”

Naimi, whose country is OPEC’s leading producer, said producers from outside OPEC would eventually “realize the importance of cooperation to secure new fair prices.”

He predicted that “high-cost producers will not continue to increase production.”

He said oil-producing Arab countries should continue to play a positive role in the stabilization of the global oil market and promotion of international cooperation in this regard, and they should strive to keep oil as an essential source of energy.

So what he is saying basically is that none OPEC oil producers should get in line and learn their place if they don't want their economy to melt.

 

[Tameem]

Saudi Arabia is really doing a number on Russia, same tactic used to bring the soviet union to its knees is being played out again. This guy am I right?

West win Ok....but What is the core benefit of KSA if Russia goes down?

What KSA doing to russia is pure animostic.....Why?

What is the rational behind a monarchy to side with pure democratic forces (US+EU) here?

 

[Hindustani78]

So what he is saying basically is that none OPEC oil producers should get in line and learn their place if they don't want their economy to melt.

I think this oil prices being low is mainly to over come from the economic crisis worldwide and giving government space to recover and bring confidence among the population.

None of the Oil producing countries will be in loss and for sure they will negotiate some other energy deals. I think now we will see Saudis moving ahead for the nuclear energy along with GCC, Egypt and Jordan.

 

[Mosamania]

West win Ok....but What is the core benefit of KSA if Russia goes down?

What KSA doing to russia is pure animostic.....Why?

What is the rational behind a monarchy to side with pure democratic forces (US+EU) here?

Saudi Arabia is siding with itself, Russia, USA, Iran, all of them got hit. USA's oil companies shares went tumbling down. Russia's oligarchs are losing more money per day than they even had in their nightmares. And Iran keeps threatening everyday that the oil price going down is unislamic which I find hilarious.

Russia and Iran were targeted because of their anti-Saudi stances lately, pertaining different parts of the middle east. USA because it became the largest oil producer in the world last month and Obama is taking stances that conflict Saudi interests. So brining the oil prices down is the right move to get everyone back in line.

I think this oil prices being low is mainly to over come from the economic crisis worldwide and giving government space to recover and bring confidence among the population.

None of the Oil producing countries will be in loss and for sure they will negotiate some other energy deals. I think now we will see Saudis moving ahead for the nuclear energy along with GCC, Egypt and Jordan.

Saudi Arabia already started building 13 Nuclear reactors and 32 Solar Energy Farms are being constructed. The drop in oil price is political. Saudi Arabia did it in the 80s as well to choke the soviets in Afghanistan, and many Russian historians say that if you trace the fall of the soviet union.

"The timeline of the collapse of the Soviet Union can be traced to September 13, 1985. On this date, Sheikh Ahmed Zaki Yamani, the minister of oil of Saudi Arabia, declared that the monarchy had decided to alter its oil policy radically. The Saudis stopped protecting oil prices, and Saudi Arabia quickly regained its share in the world market. During the next six months, oil production in Saudi Arabia increased fourfold, while oil prices collapsed by approximately the same amount in real terms. As a result, the Soviet Union lost approximately $20 billion per year, money without which the country simply could not survive."

The Soviet Collapse

Now Russia is getting adventurous again. Backing the despot in Syria and threatening Saudi Arabia with military action at different occasions. So they need to be taught a lesson in manners.

 

[Hindustani78]

Saudi Arabia already started building 13 Nuclear reactors and 32 Solar Energy Farms are being constructed. The drop in oil price is political. Saudi Arabia did it in the 80s as well to choke the soviets in Afghanistan, and many Russian historians say that if you trace the fall of the soviet union.

Which companies are constructing those reactors and Solar energy farms ?

I think dropping of the oil price is a combined effort by which economies can be recovered and here even blame game is going on. Russian Federation seems to be asking OPEC countries for the pricing and as always the OPEC countries are under pressure from the major powers , each country is having its own policy and benefit.

Now Russia is getting adventurous again. Backing the despot in Syria and threatening Saudi Arabia with military action at different occasions. So they need to be taught a lesson in manners.

Here its more or less on the Syrian regime , Is the Syrian regime is in position to attack Saudi Arabia ? I don't think that the Syrian regime will do anything like that , yesterday Syrian Army shot down Israeli drone in Quneitra.

 

[Mosamania]

Which companies are constructing those reactors and Solar energy farms ?

I think dropping of the oil price is a combined effort by which economies can be recovered and here even blame game is going on. Russian Federation seems to be asking OPEC countries for the pricing and as always the OPEC countries are under pressure from the major powers , each country is having its own policy and benefit.





Here its more or less on the Syrian regime , Is the Syrian regime is in position to attack Saudi Arabia ? I don't think that the Syrian regime will do anything like that , yesterday Syrian Army shot down Israeli drone in Quneitra.

Russia is the one threatening military action against Saudi Arabia. Syria did not shoot down any drone, it fell in tact. An Israeli drone on patrol along the border as they usual have them do. But OPEC is more or less controlled by GCC countries which tow the Saudi line.

 

[nvKyleBrown]

I think you are all imagining conspiracies where there is only economics. I don't think anyone is out to get anyone, per say - it is a fact of life that there is more oil available these days. It is a fact of life that the world economy is down a bit. The combination drives oil prices lower. The fact that there are speculators in the market who _were_ holding prices up, but now have gotten out of the way has contributed to the free fall.

I don't think there is any grand plot. Russia (and other oil producers) are victims of circumstance, not malice or design.

Not everything happens because of a conspiracy. The world is not that controlled.