Loading ...And it knows Davos has zero leverage over Russia’s actions from here on out.
Which brings me to the statements linked above by Gazprom CEO Alexei Miller, speaking at a panel at the St. Petersburg Economic Investment Forum (SPEIF) who just put the situation in the starkest terms there is.
“The game of nominal value of money is over, as this system does not allow to control the supply of resources. …Our product, our rules. We don’t play by the rules we didn’t create.”
Miller’s statement should be thought of as a statement of principle across all theatres of operation for Russia. This doesn’t just apply to natural gas or oil. This is everything, all of Russia’s dealings with the West from here on out will be on its terms not the West’s.
This is clearly the biggest geopolitical middle finger in the post WWII period.
Miller is clearly laying out the rules for a new, commodity-centric monetary system, one based on what Credit Suisse’s Zoltan Poszar called ‘outside money’ — commodities, gold, even bitcoin — rather than the West’s egregious use of ‘inside money’ — debt-based fiat and credit — to perpetuate old colonialist behavior well
after Russia soft-pegged the ruble to gold.
https://www.zerohedge.com/geopolitical/luongo-russias-new-rules