One More Step Closer To Hyperinflation

weimar-mutilatedWe are one more step closer to hyperinflation…

A little over a month ago, when Russia announced the much anticipated “Holy Grail” energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar’s stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. This changed rather dramatically overnight when in a little noticed statement, Gazprom’s CFO Andrey Kruglov uttered the magic words:

  • GAZPROM READY TO SETTLE CHINA CONTRACTS IN YUAN OR RUBLES: CFO

 

In other words just as the US may or may not be preparing to export crude – a step which would weaken the dollar’s reserve status as traditional US oil trading partners will need to find other import customers who pay in non-USD currencies – the world’s two other superpowers are preparing to respond. And once the bilateral trade in Rubles or Renminbi is established, the rest of the energy world will piggyback.

full article: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles

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