- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Petro Dollar days numbered? Saudi/China Oil deal
Posted on 4/5/23 at 8:19 am to SaintsTiger
Posted on 4/5/23 at 8:19 am to SaintsTiger
BRICS alliance will be the end of the petro-dollar and the Euro-dollar markets.
Posted on 4/5/23 at 4:15 pm to seawolf06
quote:
BRICS alliance will be the end of the petro-dollar
If and only if the Saudis back it. Which given Joe's relationship with the crown prince... yeah possibly huh?
However, Russia needs to sell O&G. They can't do it with dollars since the sanctions. Who needs to purchase? India, China, Brazil. Let's see, Brazil voted against Russia on a UN resolution. China and India are having border disputes. Russia and China are the most corrupt and opaque countries to deal with. Brazil has a history of government officials embezzling government money. South Africa and India? Every one of those countries have 5 different views and philosophies. What do they have in common besides wanting Rusian oil? It's autocratic leaders. The only winner with BRICS is Russia IMO. Putin once again checks our geriatric leader stuck in the 90's world.
I think I babbled through that ok.
Posted on 4/5/23 at 8:03 pm to Cdawg
quote:
Joe Biden is dethroning King Dollar in real time. The US dollar’s financial dominance is under siege from a uniquely bad combination of foreign and domestic policies, and Americans should be deeply concerned by the fallout if the dollar loses its 80-year reign as the world’s reserve currency.
In just the past weeks, China conducted the first major LNG sale in renminbi instead of dollars, struck a major deal with Brazil to conduct trade in their own currencies, and just announced the sale of 65,000 tons of LNG to France denominated in yuan. This dovetails with the Biden administration’s inflationary policies and ham-handed sanctions on Russia that accelerated foreigners’ flight from the dollar at the very moment the world doubts if the dollar remains a safe and reliable store of value.
LINK
Tucker talked about this tonight too.
Posted on 4/5/23 at 8:43 pm to seawolf06
Global Oil trade accounts for 4.5% of global trade total. This is minuscule and fear mongering at best. It doesn’t even make a dent to the USD.
Posted on 4/5/23 at 8:44 pm to SaintsTiger
quote:And Tucker was just as wrong as the rest of you.
Tucker talked about this tonight too.
Posted on 4/5/23 at 8:45 pm to seawolf06
quote:Saying this over and over doesn't make it true (nor make you smart.)
BRICS alliance will be the end of the petro-dollar and the Euro-dollar markets.
This post was edited on 4/6/23 at 11:30 pm
Posted on 4/5/23 at 8:58 pm to Shepherd88
quote:
Global Oil trade accounts for 4.5% of global trade total. This is minuscule and fear mongering at best. It doesn’t even make a dent to the USD.
True enough. Although that’s not the whole story. Ever since Biden began sanctioning Russia, ie, freezing all of their citizen’s dollars, smart foreigners have been dumping dollars.
Start around 1740 (Tucker on YouTube)
This post was edited on 4/5/23 at 9:01 pm
Posted on 4/6/23 at 11:36 pm to SaintsTiger
quote:
smart foreigners have been dumping dollars.
Why is that smart?
quote:Care to show your math on this? What is the date of the sanctions you mention?
Ever since Biden began sanctioning Russia, ie, freezing all of their citizen’s dollars
This article makes it seem like it was exactly 1 year ago: LINK
And the USD index shows we are higher than this time last year.
LINK
So, in your estimate, it's been "smart" to dump dollars, despite the fact that the USD index went MUCH higher on the heels of the sanctions AND still remains higher than the day the sanctions were announced?
Some of you guys need to go for a walk and reset your biases and methods.
Posted on 4/7/23 at 7:12 am to Big Scrub TX
quote:
So, in your estimate, it's been "smart" to dump dollars, despite the fact that the USD index went MUCH higher on the heels of the sanctions AND still remains higher than the day the sanctions were announced?
Some of you guys need to go for a walk and reset your biases and methods.
Maybe you need to reset your biases. An innocent foreigner is screwed if the US freezes his dollars simply because of issues with his government.
Can’t feed your family with by looking at the USD index. Restaurants and grocery stores won’t accept that as payment. Doesn’t take too much imagination to see why oligarchs in Belarus would want to hedge hard against the USD too.
You can watch the video for more information. I’ll explain it to you. But you have to pay me in dollars
Posted on 4/7/23 at 10:08 am to SaintsTiger
More debunking
A sampling:
There's much more
A sampling:
quote:
Settlement of commodities in Non-USD has been happening for decades. INVOICED AND SETTLED is a whole different story, and to my knowledge, that just has not happened. The world chooses USD for its STABILITY and LIQUIDITY.
USD share of global FX reserves may be off its highs, but it has consistently stayed at or above 60% for decades even in the face of its stiffest competition with the birth of the Euro in 1999. The Euro is the most successful challenger to the USD to date by far, yet it still has not penetrated 20% of global share of FX reserves. One of its biggest shortcomings — it’s very difficult to have monetary union without political union.
There's much more
Posted on 4/7/23 at 10:44 am to Big Scrub TX
Stop ruining their bad news circle jerk. LOL
Posted on 4/7/23 at 11:08 am to Big Scrub TX
And the Japanese Yen is still double the share of the Chinese Yuan as far as currency composition of global reserves.
Posted on 4/7/23 at 12:29 pm to Shepherd88
quote:
Recent Fed policies on hiking interest rates have caused the U.S. dollar to strengthen in the global market. This is causing pain in countries that rely on dollar prices for international commerce, as is the case for many in the Southeast Asia region.
Last week, a meeting of ASEAN finance ministers and central bank governors had the issue of reducing dependency on the U.S. dollar, euro, yen, and British pound from financial transactions at the top of its agenda.
The Association of Southeast Asian Nations, is a political and economic union composed of 10 countries in Southeast Asia, including Malaysia, Indonesia, Thailand and the Philippines. The meeting highlighted the need to move to a local currency transaction scheme.
The Global X FTSE Southeast Asia ETF ASEA , which follows the FTSE ASEAN Index, tracking the performance of companies from Indonesia, Philippines, Vietnam, Malaysia, Thailand and Singapore, is up 3.4% in the past month and over 9% in the last 6 months. In the meeting, Indonesian President Joko Widodo urged his counterparts to gradually stop using foreign payment systems, including U.S.-based Visa Inc and Mastercard.
Moving away from Western payment systems is necessary to protect transactions from "possible geopolitical repercussions," Widodo said, according to an official report.
Out of the 10 countries in the trade association, only Singapore has instituted sanctions on Russia after its invasion of Ukraine.
Breaking The Buck
Yup nothing to see here. Excellent news for the value of a dollar.
Inflation is transitory too.
Posted on 4/7/23 at 1:20 pm to Shepherd88
quote:Ouch! I'm still smarting from when Japan took us over in 1989.
And the Japanese Yen is still double the share of the Chinese Yuan as far as currency composition of global reserves.
Posted on 4/7/23 at 2:24 pm to SaintsTiger
Meh
Dollar was up big again the last day or so
The hero Russian currency sunk to its lowest level in a year.
Dollar was up big again the last day or so
The hero Russian currency sunk to its lowest level in a year.
Posted on 4/7/23 at 3:34 pm to notiger1997
quote:
Meh Dollar was up big again the last day or so The hero Russian currency sunk to its lowest level in a year.
They’re trading in yuans. China gets their oil. Russia gets China’s cheap good. No dollars nor ruples needed. This isn’t complicated.
Posted on 4/7/23 at 3:53 pm to SaintsTiger
Cool
I’ve been reading for two weeks that the dollar is crashing. When’s that happening?
I’ve been reading for two weeks that the dollar is crashing. When’s that happening?
Posted on 4/7/23 at 3:58 pm to notiger1997
No crash. Just declining in relative value over time.
Currently our biggest export isUS treasuries. We can do better.
Currently our biggest export isUS treasuries. We can do better.
Popular
Back to top
Follow TigerDroppings for LSU Football News