BBC says Yoga can fix Global Warming… guess we can keep driving…

OK, so I found that the BBC is broadcast on a local channel (during hours when I had been working). So what was one of their stories tonight? That Yoga can fix Global Warming…
No, Honest!

I’ve done a few web searches, even gone to a couple of BBC web sites (why do they need so many?…) and did searches on them. Could not find a link. But I swear I saw it. It was on BBC International (or some such… the news for folks not in the UK) and they really did say that if only we do more Yoga, it will fix global warming. Well, glad that is settled. So we can just keep on driving and using the BBQ as long as we do the right ‘poses’. OK, got it.

I did find this link:

http://grist.org/climate-energy/yoga-could-be-the-answer-to-climate-change-says-indias-prime-minister/

HOT PLANET? HOT YOGA!
Yoga could be an answer to climate change, says India’s prime minister

By Ben Adler on 1 Oct 2014

It seemed like a bad sign that India’s new prime minister, Narendra Modi, skipped the U.N. Climate Summit last week. What with India being the world’s second most populous country, the fourth-largest greenhouse gas emitter after China, the U.S., and the European Union, and a fast-growing economy, it would be worrying if its government were more concerned about short-term economic growth than a safe and stable climate, right?

[…]

Well, you can rest easy, because Modi spoke to the U.N. General Assembly on Saturday, and he revealed a brilliant plan for combating climate change. The only strange thing is that he didn’t want to come to the Climate Summit to share it.

We can achieve the same level of development, prosperity and well-being without necessarily going down the path of reckless consumption. It doesn’t mean that economies will suffer; it will mean that our economies will take on a different character. For us in India, respect for nature is an integral part of spiritualism. We treat nature’s bounties as sacred. Yoga is an invaluable gift of our ancient tradition. Yoga embodies unity of mind and body; thought and action; restraint and fulfillment; harmony between man and nature; a holistic approach to health and well-being. It is not about exercise but to discover the sense of oneness with yourself, the world and the nature. By changing our lifestyle and creating consciousness, it can help us deal with climate change. Let us work towards adopting an International Yoga Day.

Maybe reclining bound angle pose can save the planet. Heck, if that’s what it takes, I’m willing to give yoga a try… if I can just find the right instructor ;-)

But seriously, you know something has become a religion when “poses” will save the world. While the ‘reality’ of the story is that if we all just became non-materialistic yogis dedicated to posing and not to consuming, I suppose that there’s some reduction of CO2 production that ought to follow (if it really mattered). But the stronger reality is that this is a trendy PC thing unrelated to physics. It is entirely an artificial ‘social movement’ at this point. It has the fingerprints of ‘manufactured crisis for effect’ all over it, and the proposed ‘solutions’ are feel-good involvement ‘neighborhood organizer’ and propaganda efforts at this point.
Just so faux…

But I can see the advantage to some of those yoga poses… though they look more likely to heat things up than cool them down, IMHO…

Counterpoint

OK, just as a counterpoint to the ‘in crowd trendy PC’ line, there’s this Yoga site:

http://www.athayoga.info/global-warming/

After recounting the Doom In Our Time litany of Earth Ending Fears from ‘climate change’,
it says:

Al Gore with his acclaimed and widely popularized film “the Inconvenient Truth” shocks our mind, because our isolated little self’s get worried about our own survival (or at least for the children…). He tells us (supported by great media-skills) the observations, with which we started this contemplation; and paints a grim picture with such projections, as that: a million of species of life will be extinct in the next 40 years.

He does everything possible to install fear and worry in us! Fear is the instrument of manipulation! Not of education. Yes, and there are… at the end, like a trailer, suggestions what to do: such using energy-efficient light-bulbs, drive less, recycle, use less hot water, avoid excessive packaging; plant a tree etc. These suggestions are powerless….doomed, as he says himself… to being ignored. Why? Because fear…only creates the desire for self-preservation. When scarcity of food is announced, one rushes and buys and hordes…until the shelves are empty! “Me” and mine are important! Fear reinforces, the greed, which contributes vastly to those 30 % of Global warming, which man is responsible for.

If the 1st realisation about Global warming is — – the need to accept, man is not in charge; our ego must give up its aspiration of dominance; the 2nd. Point of realisation, is: – fear and worry about a doomsday future, can not propel people into changing habits, on the contrary it reinforces them and creates greed!

So despite buying in to the notion that people cause warming (though only 30% or so of it, by his figures), he does realize The Fear Game being played. Then, couched in some mystical wandering, we have what looks like an argument for adaptation rather than fear and guilt:

How did that saying of the 70th. go: You can’t stop the waves, but you can learn to surf! The preoccupation with the wave… shifts to the beauty of the ocean. Once you see the beauty of the ocean…you would not want to spoil it and destroy it! Every Wave is already ocean; You need to become aware that you are the ocean! You are, every human is… Divine power of life, the ultimate Self….if we destroy Life, we destroy our selves! There is only one message: become aware who you are! Tukaram (Indian sage) sings: “Even though I have this body, I have come to realize, That it’s not just a body, it is the house of God. And in this house of God, Though they say he is formless, His power abides.” The same power is in everybody and everything! That’s the important 3rd. realisation ,hence everything and everybody deserves the same respect, needs to honoured because there is only One earth, One Nature, One Life, One Self! Creation is the manifestation of that Self, that Consciousness, God, light…that immutable constant behind all! Remember… Every Yogic path is meant for gaining this knowledge. We purify our bodies, we meditate, we inquire, do jappa – only to this end, to recognise the absolute Self as our original nature, from there – our attitude to “Global warming” will be different! I.e. Accepting what is, and living in such a way as not to harm self or others, or indeed any facet of nature, for “ The Divine is in Everything”

So in the end is that saying that Yoga will save the world from Global Warming? Or that we just ought to go with the flow? Like most things mystical, it’s a bit of mystery. Rather like all of Global Warming ‘climate science’…

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About E.M.Smith

A technical managerial sort interested in things from Stonehenge to computer science. My present "hot buttons' are the mythology of Climate Change and ancient metrology; but things change...
This entry was posted in AGW and GIStemp Issues, Humor and tagged , , . Bookmark the permalink.

19 Responses to BBC says Yoga can fix Global Warming… guess we can keep driving…

  1. p.g.sharrow says:

    @EMSmith Sorry to be OT, but you may find this interesting:
    http://www.dailymail.co.uk/health/article-2653300/Cant-hold-drink-cope-pain-Blame-colour-eyes.html
    Eye color may be indicator for several behavior characteristics. pg.

  2. tom0mason says:

    Now what in this piece made me think of –
    Donald Sutherland as ‘Oddball’ in the 1970 movie Kelly’s Heroes.

    Oddball: “Why don’t you knock it off with them negative waves? Why don’t you dig how beautiful it is out here? …”

    http://www.imdb.com/title/tt0065938/

  3. SalvaVenia says:

    Yoga? For sure … :D

  4. Paul, Somerset says:

    Here you go:
    http://www.bbc.co.uk/news/magazine-30438566

    Can yoga solve climate change?
    9 hours ago
    The UN has adopted a resolution declaring June 21st as the International Yoga Day.
    The idea was put forward by Indian Prime Minister Narendra Modi during his UN speech, calling yoga India’s gift to the world and suggesting the spiritual aspects of Yoga can provide a solution to climate change.
    But what do yoga enthusiasts think of the idea?
    The BBC’s Brajesh Upadhyay reports from New York, also called the yoga capital of the US.
    _____________________________________________
    It just shows how little we Brits know about your great nation. I honestly never knew the alternative name for New York was The Yoga Capital Of The USA.

  5. Wayne Job says:

    I think many come here often, not many comment, EM your utterances are priceless. Your take on our global warmanist’s and their science is special, your asides like this yoga stuff is a treat.
    Thank you Sir.

  6. Paul Hanlon says:

    Well, we’ve just seen the Chinese laughing in Obama’s face, why should India miss out on all the fun. Only Brazil and South Africa to go. Although you could say they’ve already collectively given the West “the bird”, in forming their own World Bank for development.

    I think UKIP have caught the Zeitgeist in Britain way better than the other parties. You know there’s something up when now naturalised people are among the most vocal in calling for immigration reform. I can definitely see Britain exiting out of the EU, but staying within EFTA (European Free Trade Area).

    And that’s going to leave Ireland between a rock and a hard place. If Britain does leave the EU then well over 50% of our trade will be done with nations not in the EU. So economically we would be doing ourselves a massive disservice by staying in. Membership of the EU is what caused asset prices in Ireland to go so massively out of whack, ergo the subsequent correction.

    The EU is getting more and more involved in things that really should be handled at a local level. We’re told that 80% of our laws are made in Brussels, and 90% of laws are implemented locally, so why do we need such big national governments. The government “take” in most of the EU is over 50%, but they’re not doing anything like half the work.

    There was a war in Ireland called the Tithe War where the church tried to introduce a 10% tax. That didn’t go very well for them, yet we are happy to hand over half of everything we produce to an entity who will use it to find other ways to take even more off of us. Who will use it to sow even more FUD at a time when we should be celebrating the genuine progress we have made, and the goldilocks environment we happen to be living in.

    In the meantime, after the success of our European “adventure”, my daughter and myself are planning a road trip around Morocco for next year. It’s supposed to be a business friendly country and the government take is 30%. So the first order of business is, besides enjoying ourselves, to get a handle on the local laws and customs, what restrictions there are, open a bank account, and see how easy it is to form a company there.

  7. R. de Haan says:

    As if AGW is the problem. They just nuked the taxpayer for everything he’s got http://www.zerohedge.com/news/2014-12-12/presenting-303-trillion-derivatives-us-taxpayers-are-now-hook

    Did you know there is wonderful land for sale at 8 usd per squire meter in a place where no taxes have to be paid and every buck you earns goes right into your own pocket?
    http://www.offshorecorporation.com/panama-ibc

    Did you know you can build a wonderful home, bar, restaurant, resort for the cheap using sea containers: http://tomecekstudio.com/work/dwellings/shipping-container-house/

    Did you know you get 20 years tax free earnings if you rent out cabins and employ two locals?

    Did you know there are a lot of benefits for foreign residents like a tax free car import every two years and locals knocking at your door to by your car when you order a new one.

    Did you know the people living in the border area with Costa Rica are very nice and support any initiative because they understand it is in their advantage when someone want to build something to promote the economy.

    I know, the grass is always greener at the other side of the fence.

  8. Graeme No.3 says:

    It might work, after all science from the BBC often induces the cringe position.

  9. gregole says:

    Hey now, in defense of yoga – a personal story: I hurt my back for the umteenth time about two years ago and somebody suggested I try yoga. I did and it made it worse.

    So I tried a different kind of yoga where we chant, visualize different colored light, breath into our chakras – activate our auras; the whole enchilada. And the back; and the hip; and the shoulders are much better. I go every week.

    Of course I also started walking every day. Oh, and I lost a bunch of weight by dieting. Oh and I changed jobs to a much less stressful job. But I’m sure it was the yoga what done it. And, I might add, lots of nice looking ladies do yoga!

    Additionally, you can see by consulting the data, Man-Made Global Warming has been pretty much zilch for the last two years, so I chalk it up to my doing yoga. You. Are. Welcome.

  10. omanuel says:

    Astrology, meditation and yoga are far more scientific than post-1945 consensus models of reality.

    Tonight, I am convinced leaders of national academies of science – like the US NAS, the UK RS, etc., specifically the geophysics sections deceived the public as well as political leaders when they began social geo-engineer on planet Earth and its inhabitants to hide the source of energy that destroyed Hiroshima and Nagasaki in 1945.

    http://stevengoddard.wordpress.com/2014/12/12/global-cooling-in-hayhoeville/#comment-468419

    Why do I believe that?

    1. The life of every person on Earth – ordinary citizens as well as politicians – has been jeopardized by lock-step misrepresentation of the object that made our elements, birthed the solar system five billion years (5 Ga) ago and still controls every atom, life and world in the solar system today.

    2. Homeland Security officials and FEMA finally released a fact sheet on the danger of misunderstanding the Sun this month, “Federal Interagency Response Plan — Space Weather” under the Freedom of Information Act, but still refuse to release the actual plan!

    http://www.abouthomelandsecurity.com/survivespaceweather.html

    3. Leaders of the US NAS and UK RS also refuse to address or discuss nine pages of precise data that show the fate of humanity depends on our understanding of the pulsar-centered star at the center of the solar system, 1 AU from planet Earth:

    https://dl.dropboxusercontent.com/u/10640850/Solar_Energy.pdf

    With kind regards,
    – Oliver K. Manuel
    Former NASA Principal
    Investigator for Apollo
    Mentored by P.K. Kuroda,
    John H. Reynolds & Tatz
    (Mitsunobu Tatsumoto)

  11. John Robertson says:

    While I agree Yoga has benefit, I am mostly reminded of an old insult from my drinking days.
    Instead of telling an offensive person to go F themselves , I would invite them to learn Yoga and go down on themselves.
    The gears would grind and violence would ensue.
    I am coming to the conclusion we need to agitate for government action on climate change..
    As in criminal investigation type action.
    RICO statutes look interesting.
    Up here good old fashioned treason charges might work.
    Cruelty to trees?
    Attempting to starve the flora and fauna?
    As the cycle cools the fools and bandits are exposed, just as the bill comes due to the taxpayer.
    Canada’s largest province, Ontario or Ontar-I Owe I owe, is just finding out they spent $50 billion on windmills and solar panels.
    They seem a little cranky about the outflow of capital and businesses.
    My prediction is we are in a dead zone until the real conversation is held, probably by mobs of taxpayers, who are only now connecting their rising fiscal pain to the idiocy of their kleptocratic classes.
    Once their pain reaches the necessary threshold the “conversation” will be short.

  12. E.M.Smith says:

    @R. de Haan:

    I’d say that’s about right. I’ve been watching this develop and figured it was pretty much the end game some years back. There is no ‘stomach’ for debt limitation. The socialist penchant for spending ‘other peoples money’ can not be resisted, and it continues until all the money is spent. Stir in some China Mercantilism and their desire to break our industry and financial power; well….

    Tersely put: We are on the wrong side of the Laffer Curve AND way over our heads in debt. We can’t get more than about 20% tax revenues (due to said Laffer Curve) and then only via CUTTING tax rates, which will not be done. Service on debt and obligations (think SSI) is now locked in to exceed that amount of tax that can be collected. The end game is some kind of collapse or revolt. Only the details change.

    IMHO, the outcome will be a currency buggery via inflation that will be not shown in the official statistics. (That’s what they have been doing so far and not called on it. Beans and lentils that had cost me 39 CENTS / lb just a few years ago are now $1.39 / lb… but not in the inflation numbers. Gasoline is up about 3 x what it was under Baby Bush, but my paycheck not so much. So it goes…)

    So I have almost no currency / deposit accounts balances. I own “stuff” of one kind or another.

    If you must hold large currency balances, I suggest the Swiss Franc. It was 25 ¢ a couple of decades back and now it is headed for parity with the $US.

    The trigger will be when The Fed can no longer keep interest rates near zero. At that point, the debt service as a percent of government budget will balloon to levels that consume total tax revenues for non-discretionary spending. That’s the SHTF moment, IMHO. (IFF they keep printing M1 at that point, inflation goes hyper… so they will be constrained to both sides.)

    But it takes time… Obama will be out of office by then and it will be hung on the next guy. Were it not for the pain involved, it would be fun to watch the Democrats have to eat their own cooking by being that ‘next guy’… But Horrible Hillary would be so painful in other ways as to make the schadenfreude insufficient compensation…

  13. Graeme No.3 says:

    Europe is in worse shape. Higher debt, lower economic growth rate, some countries with electricity prices that make Obama drool, and they’re borrowing to pay the interest on their borrowings. They can’t ‘spend their way out of trouble’.
    The only way out they see is a prolonged period of highish inflation, but attempts to get this happening are being ‘hampered’ by falling prices and demand. Officialdom there is terrified of decades of deflation and stagnation. The collapse is likely to start there. Hard to see what will happen but the EU will collapse and various Welfare States fall into “troubled times”.

  14. p.g.sharrow says:

    A possible outcome. Bankers, specially Federal Reserve holds much of government debt. They manage to mount inflation faster then interest is allowed to rise and pay off the debt with worth less dollars. No loss to them as the purchase value of the debt to the Reserve is “zero” anyway. Hard on people that hold cash instruments. It would appear that we are in the start of that game. This is a game that has been played by Central Banks many times before. Very hard on people out on the street. Revolution is the general outcome. Central Banking Elite always think they are smarter then they actually are. pg

  15. Daavid A says:

    “The trigger will be when The Fed can no longer keep interest rates near zero”

    Yes, but when will that be? It appears that the international currencies “least ugly contest” is managing to, so far, prevent the world from economic collapse, as most currencies which would be internationally isolated due to disparate methods of “quantitive easing”, are not rejected due to all playing the same game. When the US dollar is rejected as international currency, is my bet as to when the US will lose the ability to control interest rates, but I am open to other more informed ideas.

    This of course leads to the question of when will the US dollar lose it position as the currency of international trade? (Further, will it happen incrementally or rather rapidly?)

  16. E.M.Smith says:

    @Graeme No 3:

    Watch the financial news / economic stats. It shows that clearly. The USA, being less along that road, has almost got OK growth. Maybe a percent over actual inflation (or maybe a bit under…the statistics are too buggered to say for sure IMHO). The EU is not getting lift off (even with stats buggerage…). They will flop well before the USA.

    But will they be first?… I don’t think so.

    Japan has just pushed the lever as far as it can go, and are still looking at stagflation in the face of deflationary expectations as the best they can hope for. They might well ‘fall’ before the EU.

    Russia is in the toilet. Between oil price collapse and the western sanctions, it’s a hard spot.

    So were I to bet, I’d likely bet “Russia first, then Japan, and following closely the EU” with the USA mostly being moribund but not collapsing for a few years. Still time to fix it with some aggressive cuts in Government Spending and taxation rates.

    @P.G:

    Yes. The only real choice “we” have is to inflate away the $Trillions of debt. The real issue is the Demographic Bomb. Not enough babies to support all the pensions and Social Security. Thus the push to get a new crop of suckers immigrants in here (legal or otherwise) to be responsible for the payments.

    It is a generational fraud, as the baby boomers hope to spend all they want then leave the bill to someone else.

    @Daavid A:

    Incrementally and it is already underway. Russia and China have begun the process with some trade being in ‘native currencies’. There is also a push by Brazil to join the club.

    They have started setting up an alternative settlements plan / process. It is largely the Saudi who have kept oil settlements in $US, and even they are not real happy at the moment. (Iraq and Libya and Iran had been very unhappy with the $US as currency of choice… and golly, now 2 of the 3 have had ‘regime change’… and the third has sanctions…) This is a hardball game.

    The USA can’t be nearly as effective in bossing around Putin, but are trying… and getting Saudi to help out too IMHO.

    Brazil is still a wild card. But there is clearly something going on given how the stocks from there, and especially the Petrobras oil stocks, have dropped the last few years. I’ve not gone down that rabbit hole in a while, though, so can’t speak to exactly what is happening. They did elect a more strongly Socialist President who was not as willing to leave their markets alone, so maybe he, being more activist, has screwed up the Brazilian Miracle. They do seem to cycle that way.

    The UN push to strangle the world under a Socialist yoke via Agenda 21 and “Carbon Taxes” is also a factor. Where it is most effective, you get the most collapse fastest. (See the Spanish experience and the German / UK experiments…) With China outside of that, it is doing well. While it is a bad parasite that kills the host, it is a good predator that does…

    My fear is that this will end as all such have ended in the past: Economic collapse and wars of aggression. As it is, we have economic stagnation / deflation / recession (depending on USA, Japan, Spain as EU exemplar) along with ‘wars of oppression’ (USA in the middle east, ISIL / ISIS and others in Africa / Middle East. Russia in Ukraine. Though the Russian pattern is now on the edge of flat out aggression for territory – though from which side of the edge is murky…)

    It almost looks like it is being played as a ‘slow game’ to see if the ‘boil a frog’ can be done on a global scale. Or perhaps enough people are “on to it” that they can’t push it as fast as they want. (“They” being the various governments involved).

    As of now, the strongest currency is likely the Swiss Franc and the Chinese Yuan. The Swiss tend to track a line between the Euro and Gold and have gone from about 25 cents to about $1 over my lifetime, so huge win vs $US. They are subject to political price moves when things heat up. The Yuan is managed in a peg to the $US, but one that is now slipping slowly. Not so much as to halt Chinese Mercantilist advantage, but it does slowly rise vs $US. This will likely pick up as the $US hits the skids….

    There are some other decent currencies, but mostly so small as to not be usable in international trade. The Swedish Krona for example. Now managed to largely track the Euro, but can go its own way. The British Pound too (but subject to strange political wandering and under the EU / UN pressures will have issues as the UK economy hits the skids).

    There is one group that argues for a replacement of the $US by a new international currency. They would like to see the $US collapse as the trade dollar. Replaced by International Monetary Fund (IMF) Special Drawing Rights – SDRs. But under the skin those are just a basket of major currencies and some gold ( Pound, $US, Euros…) so as those currencies go, so goes the SDRs… It’s mostly an argument over who does what The Fed presently does…

    My solution is just to not carry a lot of currency nor currency denominated assets. My house is a house. My car is a car. My debt melts away. I don’t have any debt instruments owed to me and I’m not invested in bonds at near zero interest… So mostly I don’t care if they bugger the currency. It’s a pita to keep up with price changes, but…

    I suppose if I was on a fixed pension I’d care, but those left my planning many decades back.

  17. E.M.Smith says:

    @Larry Ledwick:

    Just got done reading your links.

    Generally, yes, that’s about right; though presented in a bit of a hyped way IMHO.

    Why I think it isn’t THAT bad, just very bad ;-) …

    First off, foreign banks created many of those dollars and they can’t be ‘repatriated’ here. It is that same old “Fractional Reserve Banking” thing, but in other countries so under their Central Bank and not backed by The Fed here. So, say the Bank Of Brazil gets $10 Million deposited and has a 10% reserves requirement, it can loan out $9 Million to PetroBras, who can then redeposit it until needed in the Bank Of Brazil who can then loan out $8.1 Million to BrasChem who… Repeat until done.

    In some cases (when I first learned of this about 40 years ago so the rules likely changed under the last round of ‘almost collapsed again better tighten the rules’) the holdings in foreign currencies can even be under few / no requirements from the associated Central Bank as to specific reserve requirements. The Central Bank of Bolivia doesn’t need to defend the $US creation via fractional reserves, only the Bolivian currency. So it is more general “Banking Laws” and not the national currency reserves requirements that apply… so YMMV as to how much reserves ratio is applied.

    Now when BrasChem decides to hold Rubles, instead of $US, those Brazil-Dollars do not come home to the USA to be spent, they evaporate as the reserves ratio unwinds.

    It is entirely unclear how much of the total international trade in $US is done with such fictional fractional reserve (non-Fed) dollars.

    But it’s still a big problem.

    What is also clear is that the total foreign holdings of US Govt securities is gigantic. That IS the problem of The Fed if those stop being held as reserves. Those are 100% US obligations and have a 1:1 impact if rejected.

    Essentially, if Obama had not found someone to hold about $9 Trillion of treasuries, he would have had that much inflation to deal with. So far. As Russia moves away from accepting them, and as China gets tired of taking them to fund our debt, and as Japan retires and starts cashing them in (happening soon or now…) those dollars come home to roost. 1 for 1.

    Similarly, the whole mortgage SIV fraud has tainted the global market for US mortgages (that then nearly collapsed the world banking system). (SIV is Special Investment Vehicle – the sausage made with some good and some bad mortgages then sold as A rated…) All sorts of machinations to keep THOSE $US from landing back in the USA. Yet as those mortgages ‘run off’ or are written off, those $US will be recycled, and likely not back into $US mortgages… Even with that, some $Trillions have ended up in TARP and the EU equivalent. Essentially moving the trash onto the balance sheets of Central Banks where the hope is that the wind down will be managed OK. So as the EU banks collect those $US mortgage payments, and payoffs, those $US get cycled back to us or into something more useful to them. That will be a downward pressure on the $US for decades to come (where selling the SIVs was an upward pressure, then…)

    With dropping US export of manufactures, fewer financial “products” (be they SIVs or Treasuries) for exchange, and any movement by Russia, China, EU, etc. to want some other currency or gold to accept for their labors and products, the $US will have significant pressure on it to fall. I just don’t see it as a catastrophic collapse as the articles claim (all in a specific year? Nah…) More like the collapse that has already happened. (A stamp cost 5 ¢ when I was a kid, now $1/2 and a gallon of gas was 27 ¢ now $2.70 and more. So a $US is now worth a dime US then… it has already collapsed 90%+ in 50 years.)

    I expect it to be spread out over about 20 years. We’ll see if they can keep it up that long ;-)

    We’ll also likely see more movement to sliding pegs between currency pairs. As Euro / Ruble contracts get written, there will be some pressure to hold relative values at least a little bit stable. As the trade volume goes up, this becomes easier to do (as a change of a few Rubles of demand in one contract is an ever smaller percentage of the already committed money flows).

    FWIW, the total FX (Foreign Exchange) settlements in any one day are already gigantic. The FX system could absorb a whole lot more ‘swaps’ inside currency pairs and not notice. It doesn’t really need a $US translation in the middle of it for doing an oil trade. ( Ruble to $US to Yuan to buy China products then Yuan to $US to Ruble to buy offsetting oil is just kind of silly and a Ruble to Yuan / Yuan to Ruble would work just as well).

    So basically it’s a worry, but not a major one. The major one is the trade deficit with China and the massive $Trillions of Treasuries being floated each year out of thin air. Without them being accepted by someone, we get massive inflation “right quick” or a government shutdown of impressive form. (or the remote possibility of a tax hike to horrific that the economy rolls over and dies… but I doubt anyone, even in government, is that dense…)

    When China and Saudi stop funding that US debt is when the Fat Lady starts singing… IMHO.

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