What an interesting window of opportunity could open after Russians announcing that they will trade commodities (soon most of them will make the list, no doubt) with ‘unfriendly nations’ for rubles only.
What if you could switch your status from ‘unfriendly’ to ‘friendly’ ? I’d say the already operating rule with countries like India and China will apply, allowing you to sell your merchandise in your national currency while buying the raw materials and whatever else with rubles from Russia.
Replace the global ‘reserve currency’ with bilateral, ‘pairs’ of currencies, what a good incitement to have both a balanced trade and to act carefully with your own currency’s money supply.
Someone noticed that Russia’s request to ask for rubles payments is not the ‘nuclear option’ answer to the western sanctions, asking for payments in gold would have been. More of a reason to jump on the current opportunity.
How do you change status ? Simple. Give up the stupid, self-destroying sanctions.
Let the US handle the ‘moral issues’, they created the mess in Ukraine, they have the most to lose from ruining dollar’s prestige, they created the Kosovo precedent which opened the territorial reconfigurations Pandora box. Let them defend ‘democracy’, give me the natural gas and oil. (I always despised the ecologist blackmailers, I like fossil fuels and a warm, luxurious world – plants love carbon!)
Most of the countries in the world don’t care about Ukraine’s fate. Not more than they cared for any in the long list of countries ravaged by all kinds of wars, very few, if any, justified.
Ukrainians played their cards poorly. Right, they didn’t have much choice when their politicians and governments answer first to foreign interests. Too bad, I know the feeling, but I don’t honestly care for their plight when, as a country, I’m conditioned from outside to react as commanded, regardless of the costs such an action can inflict upon myself.
I can, nevertheless, point out that, as a sovereign country, if or when this will happen, my country could benefit from the radically changing world rules. The old system is rotten, ideologically enforced globalism is a disaster, let’s try something else. Especially since the new set of rules is still in its infancy, no clear hegemon has emerged, on the contrary, the main proponent must act extremely careful, for his own sake.
An era is ending. Strangely significant that the trade in rubles announcement coincided with Albright’s death, major architect of the anti-national, globalist through coercion, world which is now crumbling before our eyes.
Bye, bye, dollar, we had a good run! Sorry, euro, you were always just an illusion!