Rolluplostinspace wrote:.
Nothing to do with supplying oil to America.
No.
But they can make things hard or easy by manipulating the price of Oil globally. Which has a knock on effect to the global economy.
Rolluplostinspace wrote:.
Nothing to do with supplying oil to America.
Rolluplostinspace wrote:And all that is about to changre as Russia and China have been stockpiling gold.
wutang wrote:Fletch wrote:Rolluplostinspace wrote:I'm beginning to suspect that America may well be starting the process of ditching the Saudis.
I suspect it's pressure on Saudi to continue selling oil in dollars and not to get too close to Russia or China. They purchased S400 by all accounts which upset the US and have had talks about trading oil with them and others in local currency or the gold backed petro Yuan.
The Dollar represents 87% (1st) of traded foreign currency (2016). The Yuan is a mere 4% (7th) . The Ruble is 1.1% (17th).
To put in contrast both the Candanian and Aussie Dollars are more traded that the Yuan and the Mexican Peso is traded twice as much as the Ruble.
Of the top 10 currency traders 5 are American and 3 are British, the others being German and Swiss.
https://en.wikipedia.org/wiki/Foreign_exchange_market
wutang wrote:Rolluplostinspace wrote:And all that is about to changre as Russia and China have been stockpiling gold.
In what time frame?
Again:
Dollar = 87%
Yuan = 4%
What level do you see the Yuan reaching and by when?
Fletch wrote:wutang wrote:Fletch wrote:Rolluplostinspace wrote:I'm beginning to suspect that America may well be starting the process of ditching the Saudis.
I suspect it's pressure on Saudi to continue selling oil in dollars and not to get too close to Russia or China. They purchased S400 by all accounts which upset the US and have had talks about trading oil with them and others in local currency or the gold backed petro Yuan.
The Dollar represents 87% (1st) of traded foreign currency (2016). The Yuan is a mere 4% (7th) . The Ruble is 1.1% (17th).
To put in contrast both the Candanian and Aussie Dollars are more traded that the Yuan and the Mexican Peso is traded twice as much as the Ruble.
Of the top 10 currency traders 5 are American and 3 are British, the others being German and Swiss.
https://en.wikipedia.org/wiki/Foreign_exchange_market
I was referring to oil sales, not the use of it in general trade, though that is diminishing outside of the west as is the use of SWIFT.
Non-Dollar Trading Is Killing the Petrodollar — And the Foundation of U.S.-Saudi Policy in the Middle East
https://www.huffingtonpost.com/alastair ... ccounter=1
Transacting in RMB will be attractive for countries that are afraid that the United States might sanction them and keep them out of the dollar market. But for anyone other than that specialized group, transactions in dollars are likely to dominate for the foreseeable future.
Rolluplostinspace wrote:I can't give a time frame as I'm useless at getting the timing right on these things.
Zero Hedge is a batshit insane Austrian school finance blog... It's essentially apocalypse porn. It has accurately predicted 200 of the last 2 recessions
https://rationalwiki.org/wiki/Zero_Hedge
wutang wrote:More links to gold-bugs, pump and dump grifters and other generally far-right austrian school loons
wutang wrote:Rolluplostinspace wrote:.
Nothing to do with supplying oil to America.
No.
But they can make things hard or easy by manipulating the price of Oil globally. Which has a knock on effect to the global economy.
Fletch wrote:And yet you use Brookings with a straight face and then claim the US has provided stability.
a major recipient of overseas funds, producing policy papers, hosting forums and organizing private briefings for senior United States government officials that typically align with the foreign governments’ agendas.
Most of the money comes from countries in Europe, the Middle East and elsewhere in Asia, particularly the oil-producing nations of the United Arab Emirates, Qatar and Norway, and takes many forms. The United Arab Emirates, a major supporter of the Center for Strategic and International Studies, quietly provided a donation of more than $1 million to help build the center’s gleaming new glass and steel headquarters not far from the White House. Qatar, the small but wealthy Middle East nation, agreed last year to make a $14.8 million, four-year donation to Brookings, which has helped fund a Brookings affiliate in Qatar and a project on United States relations with the Islamic world.
wutang wrote:Fletch wrote:And yet you use Brookings with a straight face and then claim the US has provided stability.
A certain measure of it, for capital, at least, which is fundamentally all that matters under capitalism.
Compare the last 60 years with the previous 60 (2 world wars, various socialist/communist revolutions) and you will see that for capitalism things have been more stable.
As for the Brookings Institute:a major recipient of overseas funds, producing policy papers, hosting forums and organizing private briefings for senior United States government officials that typically align with the foreign governments’ agendas.
Most of the money comes from countries in Europe, the Middle East and elsewhere in Asia, particularly the oil-producing nations of the United Arab Emirates, Qatar and Norway, and takes many forms. The United Arab Emirates, a major supporter of the Center for Strategic and International Studies, quietly provided a donation of more than $1 million to help build the center’s gleaming new glass and steel headquarters not far from the White House. Qatar, the small but wealthy Middle East nation, agreed last year to make a $14.8 million, four-year donation to Brookings, which has helped fund a Brookings affiliate in Qatar and a project on United States relations with the Islamic world.
Gets funding from oil-producing nations. But I thought they were all lining up to ditch the dollar why would they write articles dismissing the Yuan as a rival currency
Fletch wrote:TRUMP RELEASES OFFICIAL STATEMENT ON KHASHOGGI MURDER. IRAN IS GUILTY
https://southfront.org/trump-releases-s ... is-guilty/
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