1. It's the paper market of derivatives which is setting the current price of oil and gold, not the physical amount.
    (Leonidas, 1 January 2015 14:24)

    And, if it so, what's your point? That Russia is at the mercy of those who control the paper market of derivatives?
    (icj1, 4 January 2015 22:19)

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  2. A gold and natural resources backed monetary union would have tanked Russia even sooner. How can you state such nonsense, knowing full well that both oil and gold prices have collapsed along with the Ruble. Time to re-read your " Economics For Dummies" pamphlet your Greek professor sold you in order for you to get you university diploma. Perhaps your Greek politicians should also read it.
    (The Count of Kosova, 31 December 2014 00:44)

    Take a million barrels of oil or a million ounces of gold Einstein and apply a big lashing of derivative worthless bits of paper to it say 19x, market price now $100 a barrel or $1200 /ounce and as all that lovely paper turns to $0 the market price of oil or gold falls to what price?

    It's the paper market of derivatives which is setting the current price of oil and gold, not the physical amount.
    (Leonidas, 1 January 2015 14:24)

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  3. Putin must persuade China into a a new gold, oil and natural resource backed monetary union as an alternative to petrodollar.China will accept because they know next in line following Russia will be them. Therefore, a monetary union could provide the support for Russia ,China and to BRICS by extension.
    (Leonidas, 29 December 2014 19:32)

    Or, more likely, China and the BRICS will go down with Russia. A gold and natural resources backed monetary union would have tanked Russia even sooner. How can you state such nonsense, knowing full well that both oil and gold prices have collapsed along with the Ruble. Time to re-read your " Economics For Dummies" pamphlet your Greek professor sold you in order for you to get you university diploma. Perhaps your Greek politicians should also read it.
    (The Count of Kosova, 31 December 2014 00:44)

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  4. During an interview with the La Repubblica newspaper, Mogherini "suggested opening up direct dialogue with Moscow."

    Now a Putin-Junker-Pact, mindful of the good old Molotov–Ribbentrop Pact?
    (Questioner, 30 December 2014 11:31)

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  5. (Josip, 29 December 2014 14:27)

    The oil crises was not manipulated by the west. Yes it took credit for the manipulation but it was not responsible. In fact it was Saudi Arabia and it had nothing to do with Russia. The US is self sufficient in gas and oil through shale oil production and with gas via fracking. The Suadis want to return to a relient US on their comodities so they overproduction, all in aid of bankrupting the US gas and oil producers.
    These producers have borrowed heavily and there is some $70 trillion in loans from western banks. The US companies all rely on high oil prices to make a profit and repay debt. One by one they are in trouble and looks like triggering a second GFC but this time with the banks. What does the US do? Borrow another trillion to temporarily shore up these companies? Its far more complicated than most can imagine.
    Russia is a creditor nation. It has 400 billion in foreign currency plus more than twice that amount in gold. Plus its foreign debt is only 10% of GDP while the lowest in the west is Australia which is 12% of GDP.
    Don’t believe everything you hear on TV. Putin has plenty of room to move. The US is in debt to the tune of 130% of GDP.
    (sj, 30 December 2014 11:12)

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  6. The scary thing is that Putin has no more economic moves to make and his only choices will be capitulate on Ukraine
    (Josip, 29 December 2014 14:27)

    Despite the Western sanctions on Russian economy ,market manipulation, oil price rigging the crash came and went.They didn't work.The oil price collapse is a financial and strategic game to the death for US and it's European allies (it has happened before with different players) and are being dictated by the banking cartels as a recipe for keeping their Ponzi scheme alive.The truth is their time is nearly up.The debts can never be repaid and sooner or later must be written off one way or the other.
    Putin knows the US/EU intend to make Russia a pariah state ,cut it off from trade,banking and Western credit markets ,overthrow him in the process and replaced by a bankers compliant to Western interests.In order to counteract those threats Putin must persuade China into a a new gold, oil and natural resource backed monetary union as an alternative to petrodollar.China will accept because they know next in line following Russia will be them. Therefore, a monetary union could provide the support for Russia ,China and to BRICS by extension.
    (Leonidas, 29 December 2014 19:32)

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  7. everyone are sick of America and their lies and propaganda and that's a fact.....they are weak and broke and cant do nothing......china,russia and the brics and their friends are the new world order....
    (china-serbia friendship for life, 29 December 2014 18:44)

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  8. What a load of bull crap this woman spits from her mouth.

    Here is the truth.

    [link]

    The US Congress passed the Russian sanction bill (costing $1.1 trillion USD) with only THREE of 425 members present and the record states it was passed unanimously.

    Just a few examples of what the West is doing in Ukraine...


    Fifty million dollars to assist in a corporate takeover of Ukraine's oil and gas sectors.

    Three hundred and fifty million dollars for military assistance to Ukraine, including anti-tank, anti-armor, optical, and guidance and control equipment, as well as drones.

    Thirty million dollars for an intensive radio, television and Internet propaganda campaign throughout the countries of the former Soviet Union.

    Twenty million dollars for "democratic organizing" in Ukraine.

    Federica Mogherini is lying.
    (Roger7, 29 December 2014 15:48)

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  9. Confrontational approach was never needed and it is what made such a mess to begin with. Hope they mean it seriously.
    (Sreten, 29 December 2014 15:19)

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  10. It seems that the EU and US position is actually opposite to what she is saying. They seem to be turning the screws even harder on the Russian economy and goading Ukraine to be more and more defiant against their former masters. I guess this makes sense in a way since Russia has about a year before economic collapse unless oil prices go over $80 per barrel. The scary thing is that Putin has no more economic moves to make and his only choices will be capitulate on Ukraine and regain access to foreign loans or cause a larger war that will likely help increase oil prices while keeping his citizens fooled as his buddies continue to loot the country.
    (Josip, 29 December 2014 14:27)

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  11. Stopping the confrontation is a good idea for many reasons. First is that the cavalry attack did not scare Russia and it’s ready for the long fight. Current developments not only worsen the economic positions of the two sides but what is worst it only prolongs the agony in Kiev. And it means cutting the tail of the cat by 1 centimeter per month. Now that IMF is close to release another USD 15 Bln of credit the Europeans have to close their eyes at the fact that their money have zero chance to be paid back. So they are to participate in the American adventure in Ukraine and be part of the financing the bacchanalia.

    For many reasons European companies will lose competition to the American ones in the end. Seems that EU protectorate states can see it better now. But because of the US grip they keep on talking about the pretexts like Crimea and Ukraine. With the cynic genomes like their western Europeans should shut up forever because all their wealth is based on robbery and murder. But now that they have cut themselves from cheap gas coming from a tough player like Turkey the overseas monkey’s mottoes persuade them no more. So we have a better chance for peace on the continent.
    (RK, 29 December 2014 12:58)

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  12. Moscow does not have to cooperate at all. In fact it’s the EU that is looking for a way out. Russia will not back down and it will get what it wants as the west is not in any position to start anything as it has neither the resources nor capacity to win. An interesting new item that did not make much news in that Putin has changed Russia’s military doctrine from use of nuclear (for Americans its nukilar) weapons for defence to first strike.
    “....the latest data shows that trade between Russia and Europe is declining, while trade between Russia and the US is increasing,”
    What an odd statement, does this mean those sanctions on Russia are all BS? If this is true surely the US is backstabbing the EU by demanding European sanctions meanwhile they are reaping profits at Brussels’ expense.
    (sj, 29 December 2014 12:16)

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  13. “On the one hand, we should strengthen our support for Ukraine, where the internal economic situation could very quickly become very serious. And, on the other hand, we should begin a direct debate with Moscow on our relations and the role Russia could play in other scenarios of the crisis,” Mogherini said.

    When are the sorry pretensions of Mogherini & her ilk going to match the reality that Putin probably knows more than an average EU resident how much rhetoric measures against military or economic capability? Every time EU 'spokespeople' open their mouths, with their inflated sense of their own importance, they are an embarrassment to those they are supposed to represent.For US/EU/Kiev regime, losing the war was never an option and their plans didn't envisage anything other than a neo-nazi controlled Banderastan. Now that they have lost, what do they expect, the people of Donbass and Lugansk to say,"OK, guys, no hard feelings", and go back to the way the things were before? No one in Eastern Ukraine - neither the militia fighters, nor the people - will trust Kiev regime again, who killed their loved ones and destroyed their lives' work, their houses and their livelihoods. So independence is really now the only acceptable and feasible way to go.
    (Leonidas, 29 December 2014 12:00)

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