The Russian roulette has started: the West is attacking the rouble. (Not that it hasn't attacked it before...). Bloomberg on UK wanting to exclude Russia from the Swift banking network: http://www.bloomberg.com/news/2014-...-block-russia-from-swift-banking-network.html That's what the West did with Iran. If the West keeps excluding everyone around, it'll wake up excluding itself one day Anyway, the sanctions and economic-financial warfare against Russia are working. The Rouble has never been so weak in recent years: What will they (the Russians) fight back with? I suppose Russia has partly implemented its petrodollar-exiting strategy already. But the effects will probably be more visible a few years later. They could start dumping their dollars, buying roubles with them. I don't see why that would be a problem for them - provided that they don't overdo it - don't create too much inflation and, don't get rid of too many dollars at one some, because that could hit them. Financial warfare is stupid. Like little kids who don't know what consequences there will be.
The West? It's just the UK. And actually, who in the UK? The UK didn't want to join the Euro zone, yet they want something from it?
Probably be able to purchase some of their copious amounts of energy , cheaply and directly with that so called devaluled rouble
http://www.bloomberg.com/news/2014-...-block-russia-from-swift-banking-network.html According to this Russian (translated) article, SWIFT wasn't even operational in Russia in juli, or at least: it didn't have an operation center there. SWIFT discussed then with their central bank to create such one. And that referred new system is indeed domestic, the same purpose that the SWIFT operation center there would serve. So this story, this so called 'restriction' doesn't appear to change much to todays situation.
It is not just the West that are now net sellers of roubles....it will be asians as well. It is not an attack, simply market forces. This was discussed several months ago when the idea of Russia dumping u.s. treasuries was raised... Now why the hell would Russia dump u.s. treasuries when right now they are increasing in value for the Russian government......it is a double win for Russia...the value of the treasuries are rising and the exchange rate is getting better all the time. Hell this war just might maket them some money.
:lol: "The West" is rather obvious nowadays: UK+USA. Continental Europe is less enthusiastic about pulling the Russian bear's hair... Those who are faraway from Russia are very "brave". They're not in the proximity and they don't know how it is to experience thousands of Russian tanks rolling across their country... Unlike Hungary in 1956... I think Europe is about to "split" politically, economically. The EU, at least. The West is more against Russia than the East. The latter will bear the consequences, because they're closer to Russia.
News speak of a "weakened Russia" and they're comparing it to Iran. The West tried isolating Iran (as we know), they pretty much succeeded in destroying their economy. Their currency inflated etc. They might attempt to do the same to Russia. Still... Russia is like two continents and with more commodity resources than anyone else, major power... gold, oil. BRICs memeber... How do they expect to succeed against Russia?
Russia has been working on a new payment system. So, after a while they won't even need anything: http://www.primevalues.org/market-watch/russia-gold-ruble-delink-from-dollar.htm And a totally new commodity exchange would sell all of their petrol and other commodities in roubles: http://www.primevalues.org/market-watch/russia-bypass-petrodollar-system.htm ...and they also wanted to sell Iran's oil through that exchange. I would like to know at what stage these developments are right now.