De reden dat Ruland van de dollar af wil is een eenvoudige: het land weigert zich door de USA de wet te laten voorschrijven,.

Mede in verband daarmee was Rusland afgelopen tijd vooral op zoek baar goud aan te schaffen. Dat had enige onverwachte bij-effecten:

This week, Andrew Maguire reveals that Russia is joining China in building huge, undisclosed physical gold reserves. The precious metals expert explains the resulting pressure piled on the BIS and the significant threat posed to dollar hegemony.
As Basel III draws ever closer, Andrew Maguire reveals the BIS is ramping up competitive gold buying ahead of the June 28th implementation date.
A week on, the long-time wholesaler reviews last Friday’s BIS Options Expiry, where the gold price reacted exactly as forecasted in the previous episode.

Vandaag kwam daar achter aan dat president Putin veel bedrijven in Rusland aanmoedigt hun dollarreserves af te bouwen en te vervangen door de euro.

On Monday a flurry of bombshell statements came out of Russia after at the end of last week Putin blasted the United States for using the dollar as a tool for waging “economic & political war” in an address before the St. Petersburg International Economic Forum. Amid a tightening US and EU sanctions noose, most recently surrounding the Nord Stream 2 pipeline, Putin also suggested a more “acceptable” scenario of European nations paying for Russian gas in euros, amid what alarmingly appears a broader de-dollarization effort which includes Russia’s sovereign wealth fund deciding to dump all of its dollars and dollar-denominated assets in favor of those denominated in euros, yuan – or further buying precious metals like gold. “The euro is completely acceptable for us in terms of gas payments. This can be done, of course, and probably should be done,” Putin calmly said Thursday.

Voor de EU is dit een grote meevaller, die het belang van de euro een boost geeft. Strategisch verzwakt het de positie van de USA tegenover Rusland ietsje, omdat het het drukmiddel van SWIFT-bankieren op de Russische regering elimineert.

And now Russia’s Finance Minister has announced preparations for stimulus to move FX liquidity into euros while specifying it’s mulling ordering state companies to switch to euros, according to RIA news. Additionally, Moscow said it’s responding to calls for more sanctions by “preparing” for possible disconnect from international payment systems, namely SWIFT.

Dit is een pad dat Rusland al langere tijd bewandelt. Dat het haar olieleveranties in dollars krijgt betaald is een bron van ongemak voor Rusland. SWIFT is het wereldwijde betaalsysteem waarin de dollar, door de USA gecontroleerd, de meest gebruikte valuta is.

However, a mere couple hours later the Finance Ministry walked back some of the most provocative earlier official statements: “Russia will rely on economic means to encourage companies to shift from dollar to euro and doesn’t plan any restrictions on use of U.S. currency,” a follow-up report noted.
Bloomberg noted, “RIA Novosti and Tass withdrew earlier articles citing Finance Ministry official as saying the government plans directives to order state companies to make the shift. RIA and Tass said the official retracted his quotation.” Perhaps this was yet another early “warning” signaling the West and no “mistaken” citation at all?…

Zeker nu de USA een steeds uitgebreider politiek van dollar manipulatie volgt, is het logisch dat Rusland zich aan een dergelijk controle wil onttrekken.

Here’s what the Monday TASS statements in questions said… “Russia is preparing for additional sanctions, and serious work has been initiated into dealing with the country’s potential disconnection from international payment systems, Russian Deputy Foreign Minister Alexander Pankin said at parliamentary hearings in the State Duma.”
“Of course, we need to prepare for additional restrictive measures, we usually call sanctions. It is clear that it is impossible to prepare for everything, but already in the economic and financial departments, serious work has been launched related to the transfer of settlements into national currencies, the introduction of payment systems,” Pankin said.

Met als voetnoot:

However, he also noted the Kremlin is planning for a lot of “what if” scenarios.. “you cannot get ready for all of them,” he stated. “It is clear that we cannot be completely shut down, in the current world, this is impossible… Today, nobody can fully support and develop themselves by their own efforts and means,” Pankin added.

Putin’s aankondiging had directe gevolgen voor de koersverhouding tussen dollar en euro:

Duur: 39:01 min.

Publicatie 4 juni

---

Kinesis is a revolutionary monetary system, based 1:1 on allocated physical gold and silver. Through blockchain technology, Kinesis enables the global community to instantly purchase, trade, send and spend physical precious metals. The Kinesis Money platform is bringing back a true store of value to the global economy while rewarding all who participate with a series of yields.

In case you missed it, in last week’s Live from the Vault, Andrew Maguire broke down CME’s seemingly counterintuitive move to raise margins into a rising gold price. Watch here. 

Meer over Rusland vindt u hier.