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Serious 1B1R Policy #1: Ditch the USD$ as Oil Trading Currency! Trade War NOW!

Shut Up you are Not MM

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https://www.rt.com/business/403465-dollar-end-china-crude-rogers/


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Petrodollar end looming as China & allies dump it in oil trading - Jim Rogers
Published time: 15 Sep, 2017 15:27
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Petrodollar end looming as China & allies dump it in oil trading - Jim Rogers
© Jason Lee / Reuters
Beijing has announced plans to start a crude oil futures contract priced in yuan and convertible into gold. The step might lead to the emergence of a new Asia-based crude oil benchmark to compete with Brent or West Texas Intermediate futures.

Read more
© Marco Bello Venezuela ditches dollar for oil payments to dodge US penalties

RT talked to investing guru and financial commentator Jim Rogers to understand how much of a game changer this could be for an industry dominated by the dollar.

“This is just another step in that direction. Many people do not like using US dollars because if the US gets angry at you, they just set enormous pressure on you that can even get you out of business. China, Russia, and other countries understand this, and they are trying to move world trade and world finance away from that,” said the Jim Rogers.

As China is the world’s biggest crude buyer, the new contract may allow exporters to avoid US sanctions by trading oil in yuan. Such countries as Russia, Iran, Pakistan, Vietnam, China and many other Asian countries are interested in that, according to the expert.

The futures contract will allow participants to pay with gold or to convert yuan into gold without the necessity to keep money in Chinese assets or turn it into US dollars.

“The world has been moving that way. Iran will accept renminbi (yuan) from China now. The world is moving that way. China and Russia have currently swaps in rubles and renminbis. It is happening. But it is happening slowly. It takes a lot of time,” Rogers said.

'Vitally important': Russia to reduce reliance on US dollar & payment systems in response to #sanctionshttps://t.co/pnJFIPhCHfpic.twitter.com/CqDqoN7uXP
— RT (@RT_com) August 7, 2017

The investor stressed the shift is not going to happen swiftly.

“In this case, there are so many people that actively want it, I would suspect that in less than ten years you will see a major shift into the trading of oil to Asia,” he said.

“When US dollar replaced the pound sterling, there was no one really going around trying to do it quickly. But now you have major economies: Russia, China, Iran and others – very much want this to happen. So, it will happen faster,” Rogers added.



https://www.rt.com/business/403577-dropping-dollar-venezuela-oil-yuan/

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Dropping the dollar: Venezuela lists oil price in Chinese yuan

Published time: 16 Sep, 2017 19:11
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Dropping the dollar: Venezuela lists oil price in Chinese yuan
Oil pumps are seen in Lake Maracaibo, in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela. © Isaac Urrutia / Reuters
In response to sanctions from Washington, Venezuela has started reporting its oil prices in Chinese yuan, going against the international trend of listing prices in US dollars.

On Friday, the weekly Oil Ministry bulletin published its prices for September in yuan, rather than the US dollar. The price-per-barrel posted on Friday was 306.26 yuan, or $46.76 on the more commonly-used exchange rate, up from last week’s price of 300.91 yuan, or $46.15.
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© Jason Lee Petrodollar end looming as China & allies dump it in oil trading - Jim Rogers

“This format is the result of the announcement made on September 7th by the President [Nicolas Maduro]... that Venezuela will implement new strategies to free the country from the tyranny of the dollar,” the Venezuelan Oil Ministry said in a statement.

The decision to move to Chinese currency was made last week as a way to get around the sanctions imposed on Venezuela by the US government in August, which froze some Venezuelan assets and prohibited American citizens from doing business with the country.

This has hurt Venezuela’s oil exports at a time when the country is facing a severe economic crisis. At the time, the White House said the sanctions were “carefully calibrated to deny the Maduro dictatorship a critical source of financing”.

“The market is dominated by transactions with the US dollar, and we must develop other ways to conduct international transactions,” Finance Minister Ramon Lobo told VTV earlier.
Read more
© Mihail Metzel The BRICS strike back

Venezuela’s decision follows plans announced by China to start a crude oil futures contract priced in yuan and convertible into gold, which could lead to the emergence of a new Asia-based crude oil benchmark.

As China is the world’s biggest crude buyer, the new contract may allow exporters to bypass American sanctions by trading oil in yuan, something that has interested countries such as Russia and Iran.

“In 2012, Iran began to accept yuan for its oil and gas payments, followed by Russia in 2015,” political writer Dan Glazebrook wrote in a column for RT in June.

“If this takes off, this could literally spell the beginning of the end of US global power. The dollar is the world's leading reserve currency, in the main, only because oil is currently traded in dollars. Countries seeking foreign exchange reserves as insurance against crises within their own currencies tend to look to the dollar precisely because it is effectively ‘convertible’ into oil, the world's number one commodity.”




https://www.rt.com/op-edge/403553-us-china-north-korea/



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'A US trade war with China will end US monopoly on global financial system’ – Jim Rogers

Published time: 16 Sep, 2017 14:08
Edited time: 17 Sep, 2017 08:07
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'A US trade war with China will end US monopoly on global financial system’ – Jim Rogers
© Reuters
If the Trump administration puts sanctions on China, this would hurt America more because it just forces China and Russia and other countries to cooperate, says investor and financial commentator Jim Rogers.

US Treasury Secretary Steven Mnuchin warned on Tuesday that the US could impose economic sanctions on China if it does not implement the new sanctions regime against North Korea, saying that the restrictions could involve cutting off Beijing’s access to the US financial system.

“If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the US and international dollar system, and that’s quite meaningful,” Mnuchin said at the Delivering Alpha Conference in New York City.

The UN Security Council unanimously approved a resolution banning North Korea’s textile exports and capping its oil imports following Pyongyang’s sixth nuclear test conducted last week.

READ MORE: UN Security Council unanimously adopts tougher sanctions on North Korea

RT spoke to famous investor, author, and financial commentator Jim Rogers to discuss global perspectives in the case of the US imposing sanctions on China.

RT: What is the likelihood that the US will go through with and actually impose economic sanctions on China if it does not implement the new sanctions regime against North Korea?
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U.S. Treasury Secretary Steve Mnuchin. © Yuri Gripas US threatens to ‘cut China off’ from dollar if it does not uphold sanctions against N. Korea

Jim Rogers: Sanctions are sanctions. They could do sanctions which are not very important or don’t do much damage. And then they will have good public relations which says they have sanctions, but it is meaningless. I would suspect if anything, that is what they will start with. If they put sanctions on China in a big way, it brings the whole world economy down. And in the end, it hurts America more than it hurts China because it just forces China and Russia and other countries closer together. Russia and China and other countries are already trying to come up with a new financial system. If America puts sanctions on them, they would have to do it that much faster and in the end America will lose its monopoly on the financial system, which will hurt America more than anybody.

RT: What do you think, is it an empty rhetoric and saber-rattling from Donald Trump because he said “those [UN] sanctions are nothing compared to what ultimately will have to happen” without specifying what he meant by that. Do you think this is just mere bluff on the part of the US, or would it really use the ‘nuclear option’?

JR: If it uses a nuclear option for sanctions, it will hurt America much more than will hurt North Korea, it will hurt America much more than it will hurt China, Russia and everybody else. It will force the rest of the world to find an alternative to the US financial system. If he does that, it is going to cause a lot of turmoil in the world financial economy and in the end it is going to hurt America more than it is going to hurt anybody else.

I would give you an example, if you look at Russian agriculture right now – America put sanctions on Russian agriculture trying to hurt Russia, but it has helped Russian agriculture. Russian agriculture is booming now. In the end, America has hurt itself more than it has hurt anybody else.

#Russia’s agriculture sector booming despite or thanks to intl sanctions https://t.co/NdgZOs0vlA
— RT (@RT_com) April 19, 2017

RT: If that happens, what would the consequences be for the global economy? Could this end up becoming a global economic crisis?

JR: We are probably going to have a global economic problem, maybe even crisis, in the next couple of years. This may be one of the things that start it. There is always something which starts a crisis. If America does something like this, this could be the thing that did it. In 1929, it started when America started a huge trade war with the rest of the world and the economists said, “please, this is a mistake,” but America did that anyway. And then we had a great collapse and The Great Depression of the 1930s.
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© Jason Lee Petrodollar end looming as China & allies dump it in oil trading - Jim Rogers

RT: Washington runs a $350 billion annual trade deficit with Beijing. China also holds more than $1 trillion in US debt. How could the US actually threaten China in such circumstances?

JR: Mr. Trump has been saying for over a year, two years, that he was going to start a trade war with China. He was going to put very high tariffs on Chinese goods. In his mind, he wants to do it, he is ready to do it. Some of his advisors are very much in favor of a trade war. It may very well happen. If it happens, it is going to be very bad for the world and it is going to be worse for America than for other people.

RT: How significant is Chinese trade with North Korea?

JR: For North Korea, it is extremely important - that is really the only trade partner. They don’t trade with many people except China. But it is not very important for China. China has got gigantic trade all over the world and North Korea is a very small economy.

RT: What impact will this have on North Korea itself? From an economic perspective, would they be able to keep up their military development under harsh sanctions regime?

JR: If China actually cuts off their oil or something, no, then North Korea cannot do much of anything. North Korea would have troubles surviving if they do something like that. It depends on the sanctions, so far China has not done anything which would destroy North Korea. But they could destroy North Korea if they cut off all trade.

Tatiana Klimova, RT
 

Shut Up you are Not MM

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A Sino-American Trade War will be surely Global & 99% of SG53 faked GDP will vaporize

Primary mechanism of (Since) LKY - GCT - LHL false GDP is to Launder $$ for MNC & Give Tax-Free Global HQ status to help MNC Evade Chinese & American Govt Taxes. Pipe their Made-In-China products GDP via SG53 books and Sold in USA. Hence Inflating a false SG53 GDP that has Absolutely nothing to do with SG53 peasants lives nor employment nor income, except a few fake HQ office jobs, and false GDP figure for PAP ministers to mis-justify their own huge salaries.

These figures will vaporize by Sino-American Trade War, and SGD$ currency will be lost more worthless than Malaysian Ringgit or even Thai Bahts.

SG53 empty national reserve and CPF hoax will be exploding. SGX indexes and HDB home prices will plummet to dirts.

These are INEVITABLE.
 

Hangover

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Re: A Sino-American Trade War will be surely Global & 99% of SG53 faked GDP will vapo

Jim Rogers is the biggest buay-zhun in the past decade.

On the contrary, I am not surprised if China will be kicked out of SWIFT:
1. Only foreign banks in China has assess to SWIFT
2. Only offshore Chinese banks has assess to SWIFT
3. Chinese speculators trust bitcoins more than chinese yuan

Without the SWIFT payment system, China will need another generation to catch up with US to be the largest economy in the world.
 

The_Hypocrite

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Ah tiong land also have to be careful as it's the number 1 investor of US treasury bills n it has other USD investment. Also the USA will soon be the largest oil exporter and it's economy is moving away from oil...so the petrol dollar will be made obsolete by the USA itself in future.
 

SeeFartLoong

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Ah tiong land also have to be careful as it's the number 1 investor of US treasury bills n it has other USD investment. Also the USA will soon be the largest oil exporter and it's economy is moving away from oil...so the petrol dollar will be made obsolete by the USA itself in future.

Only silly Singaporean will consider that as INVESTMENT.

It is a Financial Weapon instead of Investment.

You own your opponent / enemy by debt. Make them badly dependent on you financially. You manipulate or sabotage them after that to ELIMINATE / DESTROY them as the TRUE OBECTIVE.

It is Not A Business. It is a war. You fork out funds not for business gains, but Strategic Gains. You are fully prepared to Write Off Totally.

Your gain is a Strategic Position to REPLACE THE GLOBAL SUPERPOWER = DEFEATING / DESTROYING it.

Period.

Subsequent gain from this victory will gain advantages by globally control and supremacy and unlimited Exploitation of the Small Weak powers like SG53.

HUAT AH!
 
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HongKanSeng

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Loong surrendered belly up because Trade Wall between USA & China will have SG53 burnt down to dust.

Loong surrendered but will not be able to save SG either as trade war will still happen as Trump will proceed, and SG GDP will vaporize even if PRC offered some limited help.
 

yblzh

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Very seriously and stern measure of trade war between Russia & USA now!

https://www.rt.com/business/403804-russian-sea-ports-ruble-settlements/

Putin orders to end trade in US dollars at Russian seaports

Published time: 19 Sep, 2017 13:41
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Putin orders to end trade in US dollars at Russian seaports
Novorossiysk commercial sea port © Vladimir Astapkovich / Sputnik
Russian President Vladimir Putin has instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, according to the Kremlin website.

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© Bloomberg / Getty Images Russia cutting dependence on US dollar – economy minister

To protect the interests of stevedoring companies with foreign currency obligations, the government was instructed to set a transition period before switching to ruble settlements.

According to the head of Russian antitrust watchdog FAS Igor Artemyev, many services in Russian seaports are still priced in US dollars, even though such ports are state-owned.

The proposal to switch port tariffs to rubles was first proposed by the president a year and a half ago. The idea was not embraced by large transport companies, which would like to keep revenues in dollars and other foreign currencies because of fluctuations in the ruble.

Artemyev said the decision will force foreigners to buy Russian currency, which is good for the ruble.

In 2016, his agency filed several lawsuits against the largest Russian port group NMTP. According to FAS, the group of companies set tariffs for transshipment in dollars and raised tariffs from January 2015 "without objective grounds."

The watchdog ruled that NMTP abused its dominant position in the market and imposed a 9.74 billion rubles fine, or about $165 million at the current exchange rate. The decision was overturned by a court in Moscow in July this year.


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