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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: krypto2000]
    #25087166 -

krypto2000 said:
It might make the country more powerful but that wouldn't necessarily translate to the average person, you could equally argue it would even be worse.


I would argue that, in general, it makes it better for the average person.

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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: LightningT]
    #25096576 -

It is march 28th.

Your idea went down in flames. :smug:


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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: starfire_xes]
    #25096656 -

starfire_xes said:
It is march 28th.

Your idea went down in flames. :smug:


It isn't going to completely collapse the dollar in one day same way bitcoin/cryptocurrencies aren't going to collapse the banks in 1 day either. Same way E-commerce didn't collapse retail in one day but one day retail could be very obsolete.

Edited by LightningT (03/28/18 09:23 AM)

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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: LightningT]
    #25096658 -

‘Single biggest change in capital markets, maybe of all time’: China launches oil futures that could topple dollar

Edited by LightningT (03/28/18 09:20 AM)

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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: LightningT] * 1
    #25096704 -

LightningT said:
starfire_xes said:
It is march 28th.

Your idea went down in flames. :smug:


It isn't going to completely collapse the dollar in one day same way bitcoin/cryptocurrencies aren't going to collapse the banks in 1 day either. Same way E-commerce didn't collapse retail in one day but one day retail could be very obsolete.


There's going to be a slow long term weaker demand for US dollars to purchase oil, that's most likely bearish for the currency.

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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: qman]
    #25096798 -

Its another nail in the coffin. The world economy will collapse along with the usd and other currencies. Few will want the yuan and when china can't export anymore because its buyers are broke they go broke too.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: LightningT]
    #25097185 -

LightningT said:
‘Single biggest change in capital markets, maybe of all time’: China launches oil futures that could topple dollar


Oil is soon to be the past anyway right?


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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: LightningT] * 1
    #25100885 -

LightningT said:
starfire_xes said:
It is march 28th.

Your idea went down in flames. :smug:


It isn't going to completely collapse the dollar in one day same way bitcoin/cryptocurrencies aren't going to collapse the banks in 1 day either. Same way E-commerce didn't collapse retail in one day but one day retail could be very obsolete.



OK, I got it.  It will collapse at the time they find evidence of Trumps collusion. :smug:


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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: Stonehenge] * 1
    #25101245 -

Stonehenge said:
Its another nail in the coffin. The world economy will collapse along with the usd and other currencies. Few will want the yuan and when china can't export anymore because its buyers are broke they go broke too.


China is becoming steadily less reliant on exports. Their middle class is growing rapidly, and so is their demand for semi-luxury household. I wouldn't be surprised if China could consume its entire production of common trinkets within a generation or three.

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Re: March 26th: The End of the Petrodollar and Rise of the Petro-Yuan. Could Conflict break out? [Re: LightningT]
    #25103192 -

Saddam was not permitted to sell oil, to anyone.

It's not just what oil is purchased in which currency.  It's up to the seller to determine that.  Also it's what debt is allowed to be paid with.  Not specific merchandise debt, but simply credit debt.

I guess it's like your visa card and visa no longer accepts US dollars.  You would have to go purchase another currency at cost, then pay your debt with that.  Losing money and stability along the way.

Face it, China owns a lot of US debt.  But most US debt is owned by Americans.  So if China no longer accepts US currency for paying off US debt (or even the interest payments), it opens up to instability.


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"in sterquiliniis invenitur in stercore invenitur"

In filth it will be found in dung it will be found

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