“If you want gas, find roubles.” Those are the words of Vyacheslav Volodin, the speaker of the lower house of the Russian parliament, as reported by the BBC this week. The story follows up with a bombshell that has been scarcely reported:
The Kremlin also said Russia could start demanding payment in roubles for other commodities such as fertiliser, grain, metals and timber.
This means that Russia isn’t merely demanding rubles for gas and oil exports; it’s also going to demand rubles for commodities.
The ruble has already achieved a full recovery from its initial plunge following the economic sanctions put in place by the West. While the corporate media was initially claiming Russia’s currency would collapse within days, quite the opposite has happened. Russia’s currency is actually climbing steadily in value while the dollar, the euro and the yen are all losing value at a shocking rate.
Today will be remember as the beginning of the end of the US dollar, and the end of the “empire of debt” that it bolstered since 1971.