China declares War on the Petro Dollar

[Max B]

DENPASAR, Indonesia -- China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry.



The contract could become the most important Asia-based crude oil benchmark, given that China is the world's biggest oil importer. Crude oil is usually priced in relation to Brent or West Texas Intermediate futures, both denominated in U.S. dollars.

China's move will allow exporters such as Russia and Iran to circumvent U.S. sanctions by trading in yuan. To further entice trade, China says the yuan will be fully convertible into gold on exchanges in Shanghai and Hong Kong.

China sees new world order with oil benchmark backed by gold- Nikkei Asian Review

 

[FAH1223]

 

[QuintessentialMan]

 

[BigMoneyGrip]

Lmaoo

Ebola and swine flu bout to hit china properly

 

[ORDER_66]

Wow.....

 

[BaggerofTea]

goddamn

 

[Futuristic Eskimo]

The petrodollar system is only useful insofar as the dollars used to purchase the oil are cycled back into US assets (treasuries, stocks, US real estate, etc.). With major oil producing nations basically all running deficits due to the collapse in the price of oil, you don't need China creating bilateral trade arrangements to destroy what was once the petrodollar system. It really doesn't exist anymore. These countries are all basically net sellers of US assets at the moment and the effects have been marginal at best.

The main benefit is plainly stated within the article: "China's move will allow exporters such as Russia and Iran to circumvent U.S. sanctions by trading in yuan."

 

[kevm3]

Great thing we sent all of our manufacturing over there and are letting them buy up all of our assets.

 

[Master Teacher]

The petrodollar system is only useful insofar as the dollars used to purchase the oil are cycled back into US assets (treasuries, stocks, US real estate, etc.). With major oil producing nations basically all running deficits due to the collapse in the price of oil, you don't need China creating bilateral trade arrangements to destroy what was once the petrodollar system. It really doesn't exist anymore. These countries are all basically net sellers of US assets at the moment and the effects have been marginal at best.

The main benefit is plainly stated within the article: "China's move will allow exporters such as Russia and Iran to circumvent U.S. sanctions by trading in yuan."

denial is the first stage

 

[Strapped]

Lmaoo

Ebola and swine flu bout to hit china properly

Explain sir

 

[Strapped]

Will the navy stop the oil tankers

 

[OfTheCross]

China sees new world order with oil benchmark backed by gold- Nikkei Asian Review

 

[FAH1223]

The petrodollar system is only useful insofar as the dollars used to purchase the oil are cycled back into US assets (treasuries, stocks, US real estate, etc.). With major oil producing nations basically all running deficits due to the collapse in the price of oil, you don't need China creating bilateral trade arrangements to destroy what was once the petrodollar system. It really doesn't exist anymore. These countries are all basically net sellers of US assets at the moment and the effects have been marginal at best.

The main benefit is plainly stated within the article: "China's move will allow exporters such as Russia and Iran to circumvent U.S. sanctions by trading in yuan."

US sanctions are basically going to become toothless.

 

[newworldafro]

In the same day I'm released from The Bushes Correctional....what a way to start off HL......

How about some Oldies but Goodies ......

http://www.thecoli.com/threads/why-china-won’t-eclipse-the-united-states.224314/#post-8905808

Does word search on page .... "petro", "yuan", "dollar" ..... none are in the article ........ stops reading ...

Another perspective on our debt

all you need to know is if more countries pull out of the PetroDollar and replace with say the PetroYuan ......... we in for some shiit

So when are we going to do something about Saudi Arabia

If you don't mention or discuss the the words "petrodollar" or "petroyuan" in this thread, then brehs....I'm sorry...this thread is useless
You gone learn....................................................................................one day

Thread on Government Shutdown: THE FEDERAL GOVERNMENT IS OFFICIALLY REOPENED!

Maybe ..... is key word ............................. still there are other variables, maybe not directly related, but hiding in cut lIke


Petrodollar

Derivatives

Etc

International Oil companies leaving Nigeria.

Its not so much that they are leaving...........I mean that is huge.................but its really what currency will they be using to sell/trade their oil ...


Petrodollar or No??......Very much connected to China and Russia's $400 billion natural gas deal this week, which WILL NOT actually use Petrodollar$ ........


Again...not scaremongering...but sharemongering.....If more countries decide THEY DO NOT WANT TO USE the PETRODOLLAR FOR OIL/NATURAL GAS...there will be floods of 100s of billions/trillions of dollars coming back to the U.S........and what is inflation??? It is to large a supply of money in the system...I'm not saying its going be lights out overnight..but prices in accordance with everything we know about history, financial markets, economics will be rising in the U.S.


With that said....serious question, but does Nigeria have the technology on hand to drill, etc... I assume they do, but always figured, international corporations brought a level of expertise and technology that local companies and the government did not have...

BRICS nations agree on joint bank as West's econ. crisis deepens

Petrodollar as World Reserve Currency .................................. ................................... its looking extra


Understand yall .... when these countries, which are increasing, decide they don't want to trade in oil/natural gas especially USING DOLLARS, but other products/commodities as well, and start sending their trillions of dollars back to the U.S (THEY WON'T NEED THEM). ........... inflation will look like Godzilla on steroids (at least that's my alt media understanding) ..... ..... :holycrap: ...... I made a thread that I haven't updated, cause I got lazy as fuuck pulling in the links...... The Official Inflation (Trillion Dollar Bill) Thread ......



Remember when that crazy looking white elf dude....... I think his name was Ron Paul..... was spitting all that mumbo jumbo about the monetary system and folks said he was kook...... yall remember that right ??

US v China: is this the new cold war?

China came through like


I see now why so many countries lay claim......



When I first moved to Houston, I saw this big protest of Vietnamese at the Chinese consulate on sidewalks picketing on related territorial issues.


This is my understanding though. Its a lot of theatrics for public consumption. U.S. is in debt to China on a lot of fronts, the collateral since the U.S. can't really repay it back is...........land, resources, ....... human resources .... They say that National Parks, Reserves, etc are actually collateral on the debt. They say China is/will build new industrial parks and bring over their own people to work them. There is sense that the PetroDollar will sooner than later be replaced by a PetroYuan or a basket of currencies, meaning the U.S. will loose its ace in geopoliticaleconomic hole, the dollar as the reserve currency.


This is just one theory though ....

 

[50CentStan]

This won't end well for China, or us