Putin calls for ending dollar use in oil sales and expanding it into all international payments

On Oct. 28, Russian President Vladimir Putin spoke at the Fuel and Energy Presidential Commission and re-emphasized his stance on the petro-dollar system, and the need to ensure its end for oil and other energy purchases.  This continuing admonition of dollar hegemony comes as Putin’s administration has already submitted a bill to the Duma calling for an end of dollar based energy sales within CIS nations, especaially as U.S. imposed sanctions edge towards their third year.

In addition to oil and energy sales, Putin also pointed out that it is the focus and mission of Russia to eventually end all use of the dollar in international trade where it is not needed outside of direct trade with the U.S. itself.

Russian President Vladimir Putin blasted the government for turning a blind eye on US dollar payments in the domestic oil trade.

“I would like to mention one crucial issue in the development of the energy industry, and the economy as a whole. It is a question of finally stopping the use of foreign currency in internal trade,” said Putin at the fuel and energy presidential commission on Tuesday.

Putin posed the question to the Russian Finance Minister.

“Mr. Siluanov, aren’t settlements in foreign currencies prohibited by [Russian] law? And what do we have in practice? Fees for shipment of oil products and crude oil in the Russian ports of Novorossiisk, Taman, Ust-Luga, Kozmino, Primorsk and others – are either directly priced in US dollars, or denominated in US dollars on online trading systems, practically in real time,” asked the President.

Putin also stressed the importance of not using the US dollar in international trade, a goal that has been on the Kremlin’s agenda since the deterioration of relations with the US over Ukraine. –  Russia Today

Over the past two years, Russia, China, and the BRICS coalition have built alternate and competing infrastructures to challenge the hegemony of the dollar and the polar reserve currency.  And with China now willing to sell oil to the world in Yuan instead of dollars, and a new alternative to SWIFT (CIPS) functional in the East, the potential of the world moving away from the dollar without the need for a new Bretton Woods is now greater than ever.

Russia-Threatens-to-Pull-Off-dollar-Crash-Economy

Over time America has used the dollar and its position as the reserve currency as an economic weapon, locking out nations like Iran and Russia from being allowed to fully function in the global financial system.  And just as the U.S. has nearly destroyed the dollar’s stability by increasing the currency by tens of trillions via quantitative easing, major economies like Russia and China are setting the stage for the end of the petro-dollar system, and the integration of a new platform that eliminates global reserve requirements althogether.

Kenneth Schortgen Jr is a writer for Secretsofthefed.comExaminer.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.

HERE IS A LIST OF EVERY SINGLE TIME OBAMA COMMITTED AN IMPEACHABLE OFFENSE THAT DEMS & MEDIA COVERED UP “Impeach!” It’s been more than eight years since Democrats uttered that word – long enough for anyone to wonder if it was still in their vocabulary, considering the deafening silence through the dozens of serious scandals during President Obama’s administration – but now that President Trump is the man in the White House, it’s back with a vengeance. . . Democrats everywhere are wildly slinging the “I” word, hoping to nail Trump for high crimes and misdemeanors after the New York Times claimed a memo written by former FBI Director James Comey said the president urged him to end the federal investigation into former national security adviser Michael Flynn. . . Some members of Congress are getting in on the action. They include Reps. Maxine Water, D-Calif., and Al Green, D-Texas. Even a Republican, Rep. Justin Amash, claimed Wednesday there are grounds to impeach President Trump. House Oversign Committee Chair Rep. Jason Chaffetz, R-Utah, asked for the alleged Comey memo and other documents. Chaffetz tweeted that he is prepared to subpoena the information. And Sen. John McCain, R-Ariz., invoked “Watergate.” . . Now the Democratic Party is reportedly poll testing impeachment as a 2018 election issue. More than 1 million people signed a petition calling on Congress to impeach Trump. . . Wasting no time Wednesday, the mainstream media sprang into action, enthusiastically echoing the left’s impeachment calls. MSNBC launched a Watergate ad implying Trump is America’s new Richard Nixon. . . “Watergate. We know its name because there were reporters who never stopped asking questions,” says MSNBC host Chris Hayes, who hinted that Trump is next on the impeachment chopping block. “Now, who knows where the questions will take us. But I know this: I’m not going to stop asking them.” . . Meanwhile, some overzealous members of the left plastered fliers around Washington, D.C., demanding all White House staffers resign Wednesday. . . The posters read: “If you work for this White House you are complicit in hate-mongering, lies, corrupt taking of Americans’ tax money via self-dealing and emoluments, and quite possibly federal crimes and treason. Also, any wars will be on your soul. … Resign now.” . . But constitutional scholar Jonathan Turley, who voted for President Obama, warned “impeachment” enthusiasts not to get ahead of themselves with President Trump. Why? . . At this time, there’s no evidence Trump actually committed a crime. . . “The criminal code demands more than what Comey reportedly describes in his memo,” Turley wrote in a May 17 opinion piece posted at the Hill. Turley explained: . . For the first time, the Comey memo pushes the litany of controversies surrounding Trump into the scope of the United States criminal code. . . However, if this is food for obstruction of justice, it is still an awfully thin soup. Some commentators seem to be alleging criminal conduct in office or calling for impeachment before Trump completed the words of his inaugural oath of office. Not surprising, within minutes of the New York Times report, the response was a chorus of breathless “gotcha” announcements. But this memo is neither the Pentagon Papers nor the Watergate tapes. Indeed, it raises as many questions for Comey as it does Trump in terms of the alleged underlying conduct. . . A good place to start would be with the federal law, specifically 18 U.S.C. 1503. The criminal code demands more than what Comey reportedly describes in his memo. There are dozens of different variations of obstruction charges ranging from threatening witnesses to influencing jurors. None would fit this case. That leaves the omnibus provision on attempts to interfere with the “due administration of justice.” . . However, that still leaves the need to show that the effort was to influence “corruptly” when Trump could say that he did little but express concern for a longtime associate. The term “corruptly” is actually defined differently under the various obstruction provisions, but it often involves a showing that someone acted “with the intent to secure an unlawful benefit for oneself or another.” Encouraging leniency or advocating for an associate is improper but not necessarily seeking an unlawful benefit for him. . . -Obama’s Iran nuke deal -Obama knew about Hillary’s private email server -Obama IRS targets conservatives -Obama’s DOJ spies on AP reporters -Obamacare & Obama’s false promises -Illegal-alien amnesty by executive order -Benghazi-gate -Operation Fast & Furious -5 Taliban leaders for Bergdahl -Extortion 17 -‘Recess ‘ appointments – when Senate was in session -Appointment of ‘czars’ without Senate approval -Suing Arizona for enforcing federal law -Refusal to defend Defense of Marriage Act -Illegally conducting war against Libya -NSA: Spying on Americans -Muslim Brotherhood ties -Miriam Carey -Birth certificate -Executive orders -Solyndra and the lost $535 million -Egypt -Cap & Trade: When in doubt, bypass Congress -Refusal to prosecute New Black Panthers -Obama’s U.S. citizen ‘hit list’