Peak Oil is You

Donate Bitcoins ;-) or Paypal :-)

Page added on February 25, 2016

Bookmark and Share

Moscow, New Delhi to trade in own currencies

Moscow, New Delhi to trade in own currencies thumbnail

India and Russia are developing a road map for mutual settlements in national currencies which could open prospects for both countries, India’s Ambassador to Russia Pankaj Saran told RIA Novosti on Wednesday.

“Transition to mutual settlements in national currencies of the BRICS looks promising. Russian and Indian companies are interested in using national currencies in trade settlements,” he said, adding that there is already a mechanism in place for them to use.

According to the ambassador, New Delhi and Moscow aim expanding economic and trade cooperation. They have already chosen priority sectors such as agriculture, pharmaceuticals, jewelry, technical equipment and machinery, oil and gas, and textiles.

During Prime Minister Narendra Modi’s visit to Moscow in December, the two countries set a goal of tripling trade to $30 billion over the next ten years and significantly boost mutual investment.

They also signed a number of multi-billion dollar defense and nuclear energy deals. India has approved the purchase of five S-400 air defense systems from Russia which is part of the biggest arms deal between the two countries in a decade.

Moscow said it will supply India with 10 million tons of oil annually in the next 10 years and build at least 12 new nuclear reactors by 2035.


10 Comments on "Moscow, New Delhi to trade in own currencies"

  1. dooma on Thu, 25th Feb 2016 1:54 am 

    Abandon ship!

    The U.S.S America should pray to their “God” that global warming melts the economic iceberg that it is steaming at full speed towards…

  2. makati1 on Thu, 25th Feb 2016 3:02 am 

    I should start a list of countries now trading without the USD. It is at least 10 countries and growing fast. The BRICS group is just part of the chopping away at the Empire’s Achilles’s heel. Go for it!

  3. Davy on Thu, 25th Feb 2016 6:05 am 

    It sure turned out different for those who just months ago were promoting the prics I mean Brics. The dollar was going to be destroyed and the Yuan the new global reserve currency. China was going to dump US treasuries and crush the US economy. Russia and China were going to become the Bric Asian axis to crush the evil Merikans militarily and economically.

    The prics are all in severe economic difficulties. China’s currency may depreciate 30%-50%. Russia is in a long term recession that will likely not improve until oil does. Oil is likely not to improve so what does that tell you. Russia is bleeding money in the ME. Brazil is in a depression. India is a mess as is normal. South Africa, WHO? The US is going down but not how the anti-Merikans wanted it to be. They wanted death to Merika and victory to the Turds.

    The US will decay and devolve into something regional maybe not even as a republic with 50 states. The US could end up into blocks of like regions which may include Canadian parts. Yet, this will come after the rest of the world also does their decay and devolution. It is likely only the death of globalism that is going to destroy the US economy and global position. If for some reason the US failed sooner than it would take down the rest.

    The Russians and the Indians using their own currencies for trade deals is a smart move when it is a smart move. People like warinfo who trumpet it as some kind of new economic paradigm are just preaching their anti-Merikan agenda. We are going down together. It appears the brics are going down first and leading the rest down.

    It all kinda started way back when the US decided hyper financialization was a good thing. Back when slick Willey was slipping a cigar to Monica. That led so innocently to 08 like a wolf in sheep clothing. We must include in all this the uncontrollable Chinese expansion that made the global rich richer. It really doesn’t matter though because the limits we hit where there anyway and would have been hit sooner or later anyway. This is about a species living beyond its means in an unsustainable global system with dramatic overpopulation. The death of the dollar is really insignificant now. It is the death of globalism we should be worried about. Many of us will not survive the end of the global system.

  4. Davy on Thu, 25th Feb 2016 6:21 am 

    We are starting to see what the new global financial system is shaping up to be. We see the Nirp with talk of ending large bills and the trend towards less cash in the economy. This is basically just a new level of economic control. We are seeing manipulations of markets like the link bellow with trade halts when trading goes too far in the wrong direction.

    More and more we are seeing the emergence of a new world order at least in the financial sphere. I doubt we will ever see a one world order in the political. We are too much a polarized multipolar world and getting worse. I say getting worse but we may see a mutual trend towards political stabilization for economic reasons. Most politicians are rich and or in a revolving relationship with the rich. The rich do not want too much volatility to make them less rich.

    We are likely to see more concerted global effort at control and manipulation of markets. This is inevitable because we are clearly into a period of macro global decay and deflation. The powers know that at some point we could see global hyperinflation because of serious loss of confidence. Hyperinflation is nothing more than raw economic panic. This has to be considered the end game because where do you go from this kind of control? There are no other options except collapse. How long this will last will probably be dictated by how long the global leadership can maintain these latest efforts but also how long decay can be managed. This is the last step of pretend, extend and amend.

    “Euronext Halts “Part Of The Market” Due To Technical Difficulties”

    “Once again, we can’t help but wonder if the developed world isn’t learning from China, where any time a surge of volatility emerges, markets are just quietly shut down, or worse.”

  5. Davy on Thu, 25th Feb 2016 6:33 am 

    “When Currency Pegs Break, Global Dominoes Fall”

    “The problem is you need a big stash of dollars to sell when you want to defend your peg. If you run out of dollars (usually held in U.S. Treasury bonds), you can’t defend your peg, and the peg breaks.”

    “The problem with currency pegs is they have a nasty habit of breaking. The Seneca Cliff offers a model for the way pegs appear stable for a long time and then collapse:”

    “When a currency peg breaks, it unleashes shock waves of uncertainty and repricing that hit the global financial system like a tsunami.”

    “Now that China’s peg to the dollar is under assault, what happens to the global economy when a weakening China finds it can’t stop a rapid devaluation of its currency?”

  6. freak on Thu, 25th Feb 2016 12:29 pm 

    Seriously with all the talk about a digital cashless society how could the banks every keep it functioning with a crumbling infrastructure and no money to repair it.

  7. Dooma on Thu, 25th Feb 2016 10:56 pm 

    If America halved it’s military budget, pulled out of the conflicts that are financially crippling the economy and removed all their foreign bases, there would be plenty of money for infrastructure projects.

    All they have to do is buy their oil like the rest of the world.

    It is not like any country is going to try and invade them. Not when the civilian population is armed to the teeth.

    Oh fuck, the NSA will watch me now because I am a communist.

  8. Truth Has A Liberal Bias on Thu, 25th Feb 2016 11:16 pm 

    The USA needs resources and goods and they have nothing to offer in return but green pieces of paper. The USA keeps all those bases and wars on the go because that’s what keeps people in the mood to accept pieces of paper in return for tanker loads full of oil and goods. What besides green pieces of paper does America have that anybody in the world wants. Maybe if the world took an interest in acquiring large collections of fat lazy retards you might have something but until then you gotta keep people respecting those dollars.

  9. Neil talleagle on Fri, 26th Feb 2016 2:41 am 

    Yet another step… toward the eventual world currency the BRICSO…!

  10. Neil talleagle on Fri, 26th Feb 2016 2:43 am 

    Yet another step towards the new global currency, the BRICSO…!

Leave a Reply

Your email address will not be published. Required fields are marked *