Posted on 03/26/2018 8:55:51 AM PDT by Enlightened1
Well, now that we are an exporter of the precious liquid, I’m a lot less concerned about this.
Hey, how’s bitcoin doing these days? :)
Ah. Russia Today.
If I had a petro-yuan (or bitcoin) for every article that heralded the death of the US Dollar . . . . .
Where is Houston?
What does Halliburton have to say about this...lol
Who developed the oil industry????
LOL!!
This isn’t the 70s.
A lot of moves China will likely make will be designated as merely reactions to Trump, but what people need to realize is that China has full intentions to be world dominant. Whatever moves they’re making now are moves they would have made anyway.
How stupid. There will be no death of the dollar. When a leftist makes a prediction, it’s just wishful thinking.
The petro-yuan will be gold back and the dollar is not.
I am hoping the Trump Administration will push to get us back on to the Gold Standard.
If we do not, then the U.S. Petro Dollar over time will be at risk of no longer being the world’s reserve currency.
Exactly! Big joke if you ask me. AFAIK, China hasn’t even been able to keep any kind of future’s market going in even one commodity, for any length of time. Can’t imagine why China thinks foreign traders would put up with their arbitrary, heavy-handed crap for even a second. And Chinese gamblers... I mean traders... will make the market so volatile Westerners just won’t go anywhere near it. imo
In the absence of that move, this whole thing is really just semantics.
If I stop selling my products for dollars and only accept $1.49 candy bars as payment, I'm still trading in dollars.
The dollar losing its reserve status would be a good thing for the US Republic.
Our ability to create massive debt, and print money in a totally fiat, manipulated currency has supported the massive progressive nanny state. Politicians, particularly leftist ones, are always able to find money for their schemes. We proved it again just last week.
Ahh yes, the vaunted chinese oir dorrar
Gonna let the Chi-Com money float against all other currencies? or just teh new Yuan Petro dollar? No more currency “’nipulation’”?
You’re gonna hear the sound of a billion voices screaming “Holy Shiite!” all at at once.
Trading oil for gold is groovy.
We gots lots o oil, gibs me dat golt!
that's where they're going with this. all fiat currency not backed by a tangible commodity with value - such as oil, gold, silver, etc - all eventually become worthless. everyone, throughout history. The Chinese have been buying gold for years. the US probably doesn't have anywhere near the tonnage claimed. the dollar is doomed.
Until China lifts capital and financial controls the only reason to do a contract in Yuans is if the money is immediately being used to but stuff from China.
Gold or Gold plated Tungsten?
There isn’t enough gold in the world to back China’s currency the way you describe — especially the currency of CHINA.
Sorry — that last post wasn’t complete ... “especially the currency of CHINA and its 1.5 BILLION PEOPLE.
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