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China will 'compel' Saudi Arabia to trade oil in yuan ? and that's going to affect the US dollar
"I believe that yuan pricing of oil is coming and as soon as the Saudis move to accept it ? as the Chinese will compel them to do ? then the rest of the oil market will move along with them," Carl Weinberg, chief economist and managing director at High Frequency Economics, told CNBC
In recent years, several nations opposed to the dollar being the world's reserve currency have progressively sought to try and abandon it OPEC kingpin Saudi Arabia is at the crux of the petrodollar China will "compel" Saudi Arabia to trade oil in yuan and, when this happens, the rest of the oil market will follow suit and abandon the U.S. dollar as the world's reserve currency, a leading economist told CNBC on Monday. Carl Weinberg, chief economist and managing director at High Frequency Economics, said Beijing stands to become the most dominant global player in oil demand since China usurped the U.S. as the "biggest oil importer on the planet." Saudi Arabia has "to pay attention to this because even as much as one or two years from now, Chinese demand will dwarf U.S. demand," Weinberg said. "I believe that yuan pricing of oil is coming and as soon as the Saudis move to accept it ? as the Chinese will compel them to do ? then the rest of the oil market will move along with them." https://www.cnbc.com/2017/10/11/chin...us-dollar.html |
They've been saying this for a few years but now that Trump is in office making America look like a third world nation that never keeps it's word and breaks agreements it's entirely possible that China can make this happen and take world power while Trump is in office.
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Total bullshit for this reason: the Yuan is not a free floating currency like the US Dollar or the Euro as example of two reserve currencies.
The Yuan value is set by the Chinese government. Quote:
That is not worth a fuck as a reserve currency. Until it is allowed to float at market value. How's the ruble doing? :upsidedow |
@ Barry
China calls the shots...the USA has been exporting it's inflation long enough...it's time for China to fuck vagina...buy yuan.... |
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today floating rate + tried linked with China after sanctions China establishes yuan-ruble payment system SHANGHAI (Reuters) - China has established a payment versus payment (PVP) system for Chinese yuan and Russian ruble transactions in a move to reduce risks and improve the efficiency of its foreign exchange transactions. China has ambitious plans to create a New Silk Road to expand links between Asia, Africa, Europe. Russia and Central Asia are considered top-priority oil and gas sources for China, the world?s top energy consumer. https://www.reuters.com/article/us-c...-idUSKBN1CH0ML |
well, whoopdie doo dudes.
The change all your money into Yuan -- put your money where your mouth is |
Any news on the gold backed Yuan? This could be interesting for the USD.
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Pray tomorrow for the collapse of the dollar and say hello to your gods for me.
Get on yo knees! |
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they are not ready to be any solid form of currency. I have been there many many times...the ghost cities are real. the average city outside of the major say 5 most people know about..still have people stopping to shit in the sidewalk....i have seen it with my eyes. There are whole blocks of super developed areas..high rises....no one living there...no one can afford to. a lot of places do not even have clean water you can drink from the tap. there is actual black smog you need to clean from your nose daily...like at the end of the day you shower..blow your nose and black soot covers the tissue. they still subjugate their own people..there are whole areas still thought of as slaves....they make next to nothing..on purpose.....so the girls are taken to bigger cities and whored out....good for me and you..cause holy fuck...but bad when you are thinking of being the world global reserve currency. then finally..their currency itself is fake...they manipulate it so the top dogs can make bank. That is the only thing they are interested in. dude...they drink prepubescent boys piss for good health....not in beijing..or shanghai...but in a shit ton of cities...lol A few elites are not going to push to take over the world....maybe 20-30 years from now they have a shot...right now...? come on |
This is the reason for the eventual war with North Korea... having the US on their doorstep would be a strong deterrence to China challenging the petrodollar.
China knows they will be next if they try to make this move. The entire US economy depends on the petrodollar. The US will not just sit idle as China and Russia try to make this move. It would be very easy to destabilize the entire middle east if OPEC were seen to be moving towards this. This could literally be the start of WW3. |
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Mike, the best defense is a strong offense ...
America really needs a real renewable or new energy roadmap -- NOW! Like Kennedy's vision of going to the moon: we need a leader with an energy independence vision. And coal mines (think Dickens) , oil fracking (think Rockefeller and monopolies) -- carbon related energy resource development is absolutely NOT the answer -- it is just going deeper down the rabbit hole only to find absurdity. One day we will find a way to make cheap power with hydrogen (hydrolysis). |
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Russia and Ukraine - Coub - GIFs with sound |
Laugh all you want -- but they are producing hydrogen fuel now with geothermal power. Hydroelectric power could be used also. Solar cells are becoming better and better every year. Pump that oil fast before there is little market left.
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Having renewable energy does nothing to protect the dollar. If the US doesnt consume oil they lose the petrodollar and China steps in anyway. The dollar will plummet and so will the US economy. Demand needs to remain strong. With lower prices look what is happening to Venezuela, Russia and Nigeria. With lower oil prices we also have deflation that is starting to effect debt payments. There's a lot more here to read about why low oil prices could be very bad for everyone... Ten Reasons Why A Sustained Drop In Oil Prices Could Be Catastrophic | OilPrice.com US national security and economic interests are closely tied to oil... if you dont believe me you dont have to look any further than the war in Iraq and how Bush & Co lied to get in there... |
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https://media.publika.md/ru/image/20...8_87185900.jpg https://gdb.rferl.org/FD4E4AD3-1CAE-...w1023_r1_s.jpg |
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The Chinese peasant has used chicken manure to make methane cooking gas for ages.
Expanding oil prices have caused recessions over and over. Oil is probably worth $25 bbl in a manipulated market |
Imagine stumbling into this thread to find everyone making a case for Bitcoin. Unbelievable.
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Moving from America to Hong Kong I can see a bigger picture of different world currencies. I have not used or even seen a U.S. note in a long time.
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Want to fund any loans secured by real (property) assets? I wonder what a court would say about a mortgage in kind -- because BTC is not legal tender |
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But good luck trying to convince anyone. I have been trying for over 10 years. But it's funny, every nation that has suggested switching currency for oil trading forcefully, we have been at war with (except china but they have only been suggestive). Most nations want the 'stability' of the dollar/oil equation. But you have these issues with 3rd wold oil producing nations that have pillaged the profits. They are looking out for their interest. And you have this fact that Obama redacted the oil export ban that is starting to have a effect on international markets, putting more pressure on everyone else. India just started to receive US oil exports in the past week. (Ha... let me see Trump erase that one.. he is taking credit for better trade defecate and this is where it came from). The market is going to adjust but it may take a few rocky years baring any more wars. |
Just another move as China moves to #1 in World Powers. Given to them by corrupt politicians and billionaires. What did you think this would go differently?
Then you're too stupid for words. |
Very sexy indeed. Give me more.
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Will never happen. Keep of drooling commie.
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What about ultra-modern Russia and its ultra-modern economy ? will someone buy OIL AND GAS in 30 years ? no word about Russia in this video :1orglaugh:1orglaugh:1orglaugh wonder how its economy will shrink... unless of course you will count bribes and corruption into GDP, then it would be superpower like always was ! |
Well ruff -- bitcoin is real fiat -- backed by bullshit.
If there was no legal tender currency bitcoin would be not be convertible at all. I propose a way to convert bitcoin into real world assets and you make fun of the idea. I would tell you to eat your bitcoin -- but they don't exist to chew. |
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Trump's son will live in a world of Mexican Rapists then :laughing-
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When a person is making profit nothing much matters. You keep harping on nothing. It only counts when BTC fails and it's not failing is it? If, someday, it fails, we will all sit at your feet for more of your wisdom. Until then, cha ching! |
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All of that new money that was printed and pumped back into the federal economy made the numbers look good but it really never reached the actual voters - which is why Trump got elected. The "one percenters" were given a nice gift by Obama though. If the dollar wasnt tied to oil, we would be in a situation right now of hyper-inflation and the stock market, bitcoin and real estate would be tanking. This is why Trump is trying to decertify the Iran deal. Iran is the mortal enemy of the Saudis. We need to stay on the good side of the Saudis and we do not need Iran to become a threat to the flow of oil in the Middle East. Once Saddam and Iraq became one, they were removed. Once Kadahfi indicated he wanted to move off the dollar to gold to buy his oil, he was removed. I dont see the US coming off the petrodollar anytime soon and I really dont see them relinquishing it to the PetroYuan. All that will lead to is war. And China will never take over the #1 world power spot until that happens. And China at this point cannot take on the US in a war. They might have the largest land forces but they dont have the same air force or navy and could be quickly defeated. They have 1 aircraft carrier while we have 19. There are approximately 55 years of oil left in the ground so none of this is likely to change in the next 5 decades. |
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Every invasion and government overthrown in the middle east was to maintain the petrodollar. Saddam had plans to start trading oil in Euros. Ghaddaffi had far-developed plans to start trading oil in a new African gold backed currency. |
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Really, I would like to see some fairly regulated, and hard asset backed, means of international exchange using a new global currency. Whether Bitcoin zooms to unheard of *values* or becomes worthless will not matter to most of us. |
Well, a civil war may have erupted in Iraq last night and the oil prices are up.
The Kurdish independence movement is nothing new but today the Kurds have assembled an army. So, if you are happy being a sucker for the oil economy -- this is your happy day. |
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BTW , the rest of your posts on this topic are spit on and insightful great to see brains with knowledge posting on this topic thx :thumbsup |
Exclusive: China offers to buy 5 percent of Saudi Aramco directly - sources
https://www.reuters.com/article/us-s...-idUSKBN1CL1YJ |
Aramco was scheduled for a worldwide IPO because Saudi Arabia is hurting for money now. The IPO was *backpeddled* suddenly from the international market. My best guess is the the Chinese think they would be buying assets at a good price -- perhaps in expectation of an oil price rebound?
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I don't think China will do it for stock-market speculation - them interest real sector.
I think they want to buy 5% Aramco and receive oil for free as dividends from it + they have free labour with nets on plants. This will greatly increase their competitiveness. "Saudi Arabia’s Crown Prince Mohammed bin Salman said last year the kingdom was considering listing about 5 percent of Aramco in 2018 in a deal that could raise $100 billion, if the company is valued at about $2 trillion as hoped." interesting sum $100 billion, like Trump's arms deal with SA >civil war >Kurds have assembled an army USA command by them as I know |
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politically engaged ! |
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Besides China can beat the USA without violence...they have millions of refugees ready to march to your allies in the region...when I say millions I mean 100 million just for fun...the Geneva convention is a bitch...you get to feed them while the Communist party raughs at you! You would beg them to sell you yuan so that you can purchase your own oil from the Saudis just so that they take the refugees back ROR! How fucking ironic is it that the Communist party is calling the shots now? OMFG I can imagine your denial...the commies beat you at capitalism... |
It was gonna be oil sold in euros 10 years ago that would kill the dollar.. The simple fact is no other currency has power around the world like the US dollar..
China's yuan isn't doing that anytime soon.. |
The funny thing is that it will do exactly what the Fed has been trying to do for the last ten years. It is a pride thing, not a good thing for the middle income American. Of course, anyone who is a middle income American is too dumb to know any of this. USA is kind of a hard place to live as we are pretty dumb when it comes to most stuff.
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#Iraq #Kirkuk #OutlawsDefeated crying here https://twitter.com/mustafalhadithi/...195840/video/1 runaway here https://twitter.com/IraqLiveUpdate/s...94653348040704 |
same shit new day
Iraq-Kurd Clash Cuts Oil Output at Disputed Kirkuk Fields Bloomberg 2h ago Related Coverage Iraqi government troops surround Mosul, await orders Local Source Anadolu Agency 1h ago Rising tensions in oil-rich northern Iraq keep crude prices elevated MarketWatch 4h ago |
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