The Forex news is fascinating recently.
For example, I doubt most Americans on the street even know China’s yuan has reserve currency status.
This sort of thing will affect your state budgeting and everyday comfort (standard of living).
I haven’t been bullying the Yanks, OK maybe I have been lightly ribbing you, but I think it’ll be down to crypto and Sterling (not biased, based on structural factors) plus USD if it gets its own structure in order (I live in hope with a bagful of monies) and maybe Germany’s DM once the EU goes tits up.
Predictions subject to change say, if Germany does something really stupid i.e. go to war.
Begging the question: What do they know?
God loves an optimist, I suppose.
Why an EU army?
In March 2015, European Commission President Jean-Claude Juncker said the EU needed a common army to be taken seriously internationally. But Britain – previously Europe’s leading military power – had been opposed. Post Brexit, the EU can push ahead with plans.
See, for once I wasn’t being silly.
To taking sucker punches at the Petrodollar!
The International Monetary Fund added the yuan to its basket of reserve currencies last October, in addition to the U.S. dollar, the euro, the yen and the pound.
The story this time involves China’s plan is to price oil in yuan using a gold-backed futures contract. Even if that were true, the impact would be zero.
Gold-backing? Something America is loathe to return to?
Oh, if only someone had warned you about China.
Wouldn’t someone please warn you?
CNBC reports China has grand ambitions to dethrone the dollar. It may make a powerful move this year.
Their bold, not mine.
They view it in a vacuum. Bitch please. Russia has plenty oil and they’ve been in cahoots for years.
This is an open secret, look it up.
“I highly doubt China even seeks what these petro-yuan analysts claim.”
OK, man who works for Pacific Capital Management and includes no disclaimer of vested interest.
Here’s a pithier title
China and Russia: Digging the US Dollar’s Grave
That’s… that’s pretty much it.
China, the only country with enough weight to challenge U.S. financial hegemony, has just announced through its People’s Bank a payment versus payment, PVP, system for transactions in Russian rubles and Chinese yuans so as to reduce the influence of the U.S. dollar on international transactions.
The grand design behind the One Belt, One Road Initiative, ICR, has an integral gold-based currency component that could change the balance of global power in favor of the Eurasian nations, from Russia and the Eurasian Economic Union, EAEU, countries to China and all of Asia.
But I’m imagining things, right, gaslighters?
Could ya Google it? Would it kill ya to Google it first?
The Asians are our friends because they smile at us.
This is how China and Russia have financed the U.S. military budget in recent years, by purchasing bonds and bills that allow the U.S. Treasury to finance this deficit without raising interest rates.
They’re so polite!
Money can’t buy you class.
“It soon dawned on me that the real question to ask is: “Why are the Chinese rude?”
Yong Chen, tourism researcher and post-doctoral fellow at Hong Kong Polytechnic University, said most “bad” tourists don’t intend to be “bad” or “tourists”, they are just being themselves – they are being Chinese.”
The U.S. military budget is aimed at controlling China and Russia and the Eurasian bloc, and destroying their economies, while those countries need to hold dollar reserves against possible future U.S. currency wars.
With friends like that.
This is why you don’t develop foreign nations. Eventually they’ll screw you.
If only the Chinese had a children’s story around this lesson.
Literally telling their kids altruism and reciprocity is for suckers.
Congratulations, collectivism. I knew you could do it.
Corrupt your own children out of being weak and kind.
They don’t give dogs rights. I’m sure they’ll be nice to us.
“But animal rights campaigners believe a large number are stolen pets sold on the black market – some with collars still attached.”
“The Chinese have always been a cruel people – not only to animals or to neighbors but to each other as well. It’s in their arts, their literature, their philosophy…”
China, Russia, allied countries of Eurasia, the rest of the BRICS countries, countries of the Shanghai Cooperation Organization, SCO, and possible members such as Iran and Turkey, are preparing to reduce their vulnerability to a bankrupt world banking system.
Notice everyone hates Iran lately?
In 2016, China joined the International Monetary Fund as one of the five main currencies in the currency basket by which the IMF calculates the value of its Special Drawing Rights. That step gave the yuan a big boost in international acceptance. Before 2004 it was not permitted as an instrument of international trade outside of China, but since then its monetary authorities have laid a careful foundation for the internationalization of the yuan, which already exceeds expectations, to become a global anchor, a reserve currency that will overtake the Euro in the next few years.
Putin doesn’t like Trump, he’s playing Trump to buy time.
His eggs are already in a Chinese basket.
In a 2016 report, the HSBC bank reported that since 2012, the Yuan (or renminbi, RMB) has become the fifth most used currency in the world. Elvira Nabiullina, governor of the Central Bank of Russia said: “We have finished working on our own payments system, and if something happens, all operations in SWIFT format (World Society for Interbank Financial Telecommunication) will also work within our system. We have created an alternative,” something which alarms the U.S. Treasury, the Federal Reserve and Wall Street banks.”
Wait, it gets worse.
In order to avoid a steep fall in oil revenue, Suadi Arabia’s King Salman visited Moscow in early October where no doubt the plan for a petroyuan was discussed
China has been pushing for more use of the yuan in oil settlements. As the country has become the largest importer of oil, surpassing the U.S., it can call the shots internationally and provide greater energy security. So Beijing hopes to challenge the dollar by establishing a futures market with its own currency and reports indicate that China is willing to introduce a benchmark index of oil with a price in yuan in the coming months.
Elon Musk, you’re our only hope.
An oil futures market based on the yuan will stimulate demand for its currency that will give China strategic influence.
Watch where the weak ones flock.
Due to sanctions and global intimidation by the U.S. Treasury Department, Iran, in particular, was one of the first to adopt yuan-based oil sales. Now in 2017, Venezuela is following suit. For the same reason, Russia agreed to trade some oil based on the yuan in 2015. Any decline in the status of the dollar severely weakens Washington’s ability to wage its economic war against Russia and destabilize the Eurasian bloc.
China and Russia do not seek to attack the dollar to destroy it, but to create an independent alternative reserve currency for other nations that want to protect themselves from increasingly frequent financial attacks by U.S. Treasury banks, Wall Street and hedge funds.
In the same way that treating cancer is good for the tumor.
Now, China and Russia’s system of settling bilateral payments is being extended to other Belt and Road Initiative countries in Eurasia, to the BRICS countries and to Venezuela as part of its geopolitical orbit, the Chinese government’s declaration contributes towards creating this alternative monetary system. Moreover, as an alternative backed by gold, independent of the politically explosive and speculative U.S. dollar system, in years to come it could protect China’s allies from economic attacks and financial war
Message is clear: We’re not going down with Uncle Sam.
The central bank has “a stronger grip” on the yuan exchange rate now thanks to the adoption of a murky counter-cyclical factor in setting the daily price of the yuan, Larry Hu, the chief China economist for Macquarie Securities, wrote in a note.
Corrupt as ever.
China’s current account surplus was US$106.3 billion in the first nine months of this year, or about 1.2 per cent of its gross domestic product.
Meanwhile, it reported a US$60.8 billion surplus in its financial account for the first nine months, a big turnaround from a deficit of US$389 billion in the same period last year.
Petroyuan up, Petrodollar down.
This is now.
Biggest importer of oil in the world, Leonardo DiCaprio doesn’t say a word.
This page, also cited on a Saudi business site, is an Error page until you look at the cache.
As in, it hides from you based on where you view it.
United States can get most of what it wanted, including intimidating and bullying anyone in the world, partly because of its almighty U.S. dollar. It’s a known fact that the U.S. is broke. America is the world’s biggest debtor nation – owing more than US$20.37 trillion – and climbing. Whenever they run out of money, they would start the printing machines to print more.
Trump has said this.
It’s the demands for U.S. dollar that keeps the currency note valuable. But a combination of geopolitical pressures could spark the end of the U.S. dollar as the world’s reserve currency, according to the head of FX strategy at Saxo Bank. When the faith on the notes disappears, the powerful America could crumble. That day has actually already begun – quietly and slowly but surely.
John Hardy of Saxo Bank said – “The world is turning its back on the almighty dollar.” And thanks to President Donald Trump, the day when business depends lesser on the U.S. dollar than it is today has been leapfrogged. The U.S.-Europe transatlantic relationship is fast loosening its shine as the E.U. realizes it’s time they become more independent.
The EU connection is over-stated. It’s Russia and China.
The E.U. doesn’t need the U.S. to survive. In fact, the European Union’s economy is bigger than the United States. For the second year in a row in 2016, China – not the U.S. – was actually the world’s biggest economy, generating US$21.3 trillion in economic output. That number is enough to wipe out today’s U.S. national debt, with some loose change.
And European Union – not the U.S. – was in second place behind China, churning US$19.2 trillion while third place America produced US$18.6 trillion. Together, China and the EU generated about 33.9% of planet Earth’s economic output of US$119.4 trillion. However, the U.S. could easily send the Middle Kingdom Chinese into financial chaos by wrecking its economy – with Section 301.
“Unless it’s about China.”
The equation is very simple;
High IQ population, accounting for density = Lots of $$$$
But sure, you’ve got a few thousand brains in Silicon Valley. Good for you. And how many will flee to Israel when the Petrodollar is ruined for good? Geniuses per person in America, expected to save the rest? What if they refuse to work? Why do you allow second passports? At least stop cucking for China, your future superiors.
China knew it but has no choice but to play ball, for now. And the Chinese also knew the only way to fight back eventually is to rely lesser on the U.S. dollar, without which Washington would not be able to tell anyone in the world what to do and what not to do. Just like the EU, it doesn’t make sense for China to trade with other countries based on U.S. dollar.
As the world’s biggest economy, the Chinese has long realized how dumb it is to do business using the dollar, instead of their own currency – Yuan or Renminbi. The U.S.-North Korea conflict is a classic example how China can be arm-twisted to fix a problem started by the U.S. But soon, that could change and the U.S. domination may be a thing of the past.
Not only China is the world’s biggest economy today, they are also the world’s largest consumer of crude oil. As the Republicans and Democrats are doing a fabulous job destroying their own nation, China is working on a plan to “force”Saudi Arabia to trade oil in Yuan, instead of the traditional U.S. dollar.
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.” He said – “I believe that Yuan pricing of oil is coming and as soon as the Saudis move to accept it, then the rest of the oil market will move along with them.”
Is this a wishful thinking, considering 80% of world trades are being conducted using U.S. dollar? Not at all, if one can see how many enemies the U.S., and Donald Trump for that matter, has made over the decades. In April, China and Russia has started the ball-rolling in killing the U.S. dollar when both powerful nations agreed to trade oil in a non-dollar environment.
With trade volume of US$59.5 billion in 2016, China’s ICBC (Industrial and Commercial Bank of China) has opened a clearing bank in Russia for trade settlements on business involvement – including electricity, mining, chemical, oil and gas, telecommunication, retail, machinery and metallurgy sector in Russia.
But Trump got a phone call.
With more countries, such as Iran and Venezuela, being added to the list of America’s foreign enemies, those nations who have been suffering at the hands of U.S. financial and trade sanctions will be happy participants in the Chinese scheme and could provide critical mass. Now, China is targeting Saudi Arabia, the leader of OPEC cartel.
Since a 1974 agreement between U.S. President Richard Nixon and Saudi King Faisal, Saudi Arabia has accepted payments for nearly all of its oil exports in dollars. And King Salman uses this excuse in order not to offend the U.S. when trades with the Chinese. Beijing, however, isn’t impressed that they need to pay using their rival’s currency.
To pressure Saudi, China has been purchasing less and less oil from the Middle Eastern kingdom. It doesn’t help Saudi’s bargaining chips that crude oil prices remain stubbornly low. Mr. Weinberg said – “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.”
America should be worried about China’s plan to crown their own currency – “de-dollarization” – because the demand for the U.S. dollar would be between US$600-US$800 billion less, when oil trade is moved out of dollars to Yuan. Not comfortable with the not-so-glorious Yuan / Renminbi currency? No problem, because the Chinese has another currency on the offering – “GOLD.”
It was a clever plan because not only China is openly challenging the U.S. imperialism, the latest move by the Chinese will allow oil exporting countries such as Iran and Russia to bypass U.S. sanctions by trading in Yuan instead of U.S. dollars. To make the Yuan denominated contracts more appealing, China is making the Yuan fully convertible to gold on the Shanghai and Hong Kong exchanges.
I bet that gold isn’t faked.
This is what they’ve been planning with the real ones.
Yuan-backed oil and gold futures, when fully implemented, mean that users can be paid in physical glittering gold. Already, Russia’s biggest bank Sberbank has announced in July that its Swiss subsidiary had begun trading physical gold on the Shanghai Gold Exchange. While “petro-yuan” isn’t as attractive as “petro-dollar”, the “petro-yuan with gold” could definitely be a game changer.
Chinese character: “You cannot reason with these kinds of people,” Wang said. “They think they can do anything with their money.”
“Living in China, where the rule-of-law doesn’t exist, means everyone has to look out for their own interest. It also means people have little or no respect for laws.”
Yes, have fun trading with them!
“Consistent with our views, the broad rebound in global growth in 2017 left the dollar weaker against much of the G10,” Waldman says.
“Going forward, as the global recovery explores its “room to grow”, the dollar should continue to depreciate,” the strategist adds, before citing a number of factors that lend additional support to his bearish Dollar view.
“This has led to the biggest deterioration in the US net international asset position vis a vis where it should be based on the accumulation of current account deficits,” says Waldman.
Another factor, less directly connected to Waldman’s topic but still relevant to the greenback’s trajectory, is global central bank buying of US Dollars.
It is disproportionately represented in central bank currency holdings, particularly as America’s share of the global economy is in long-term decline, given the rise of the emerging world.
Congratulations, you trained your replacement.
Only an idiot would send their factories overseas and expect the prosperity to remain at home.
To allow your elite Universities to be swamped by the foreign competition is a direct betrayal of your people. At least there should be caps on overseas students for fairness.
‘You should consider our feelings’: for Chinese students the state is an extension of family
Collectivists. Worse than SJWs.
The recently released Chinese student’s recording of the argument he has with his teacher about using the word “Taiwan” illustrates how issues of sovereignty and territoriality can be very emotional for Chinese students.
Censorship, they crave it.
In the video, the Chinese student says, in a calm voice: “You have to consider all the students … Chinese students are one third of this classroom. You make us feel uncomfortable.” He goes on to argue, “You have to show your respect.” The discussion becomes somewhat unclear, but it sounds like the student then says, “It really makes us feel terrible.”
Aaaand then the threats. Naturally the alt right is too chickenshit to call out the Chinese when they pull this BS.
The mantra of “hurting the feelings of the Chinese people” is not new. This emotionally charged phrase is used regularly in the Chinese press, with varying degrees of vitriol
Your new masters. You are not allowed to criticize in a white country.
On top of surgery to look more trustworthy, this isn’t espionage at all.
Meanwhile the natives suffer as the education in their country goes to wealthy outsiders.
We invented the University.
Would they commit treason?
Qian Xuesen first fought his deportation, but later accepted his fate and went on to become the founder of China’s missile and space programs.
They said he was a traitor, he proved them correct.
The reason Korea is talking shit to America. This one Chinese student. True story.
Qian Xuesen came to the United States to study aeronautical engineering at MIT and Caltech. He helped the U.S. military develop jet-assisted takeoff technology during World War II, and became the founding director of Caltech’s Jet Propulsion Laboratory. The United States even sent Xuesen to Germany to help interrogate Nazi scientists, including famed rocket scientist Wernher von Braun who went on to help found the U.S. space program.
Why were you trusting a foreigner with this?
He became a Chinese national hero, and oversaw an accelerated development of Long March rockets that would form the foundation for China’s missile and space programs.
“Indian sources credit China as the source of the new [Pakistani] ABABEEL warhead multiple reentry vehicle technology and it is indeed plausible Pakistan passed such Chinese-origin technology to North Korea.” According to Fisher, China may also have provided the warhead technology directly to North Korea.
Asians are loyal to one another, they hate Whites.
The University system is a whore.
Until recently, preference was directed toward American and Canadian universities, but the 19th China International Education Exhibition Tour which was held last weekend in Beijing with more than 400 universities from 20 countries and regions taking part, showed a different picture.
The major reason for students becoming interested in studying in European countries is that many schools do not charge tuition to international students, and it is a good opportunity for getting a good grasp of a foreign language other than English.”
How is that legal considering the human rights of the natives, whose taxes fund those institutions?
- The number of Chinese students far exceeds any other nationality at 91,215. This is the only country showing a significant increase in student numbers.
Meanwhile, the people who made these places worth attending.
Why can’t post-grads get a place easily? Racism. Anti-white racism.
They aren’t even as smart as the ones who do get in.
The Asians are beginning to chirp up like paid-up SJWs.
Meanwhile, we’re deliberately being impoverished by being banned from those positions in our own country.
Even non-whites born here are screwed over for shinier foreigners.
Yes, keep talking about American academia like it’s a bubble and not a toxic waste spill.