the petro dollar

After enjoying the fruits of your labors, we all need a place to chill. This is that place. Totally senseless irrelevant banter encouraged.
User avatar
Butcher Bob
Karma God
Karma God
Has bestowed Karma : 1317 times
Received Karma : 921 times
Posts: 3894
Joined: Thu May 21, 2009 10:18 am

the petro dollar

Post by Butcher Bob »

Butcher Bob wrote:...because imaginary money doesn't have any actual value.
This is why having oil denominated in USD is so important. Only being able to buy oil with USD gives the USD value. As other currencies are used, the value of the USD will start to erode.

bentech
MPG Ambassador
Karma Hippie
Karma Hippie
Custom Title: eye the witch Melancholy
Location: socal
Has bestowed Karma : 33 times
Received Karma : 28 times
Posts: 17529
Joined: Mon Jun 06, 2011 1:38 pm

the petro dollar

Post by bentech »

"That is why the 'kill the Fed' and gold folks want to return to a physical based system...because imaginary money doesn't have any actual value."

aside from creating more 'general welfare' than the agrarian world had seen in 10,000 year?


they could care less!

to a man all they want to do is destroy society
just when their isn't enough natural world to go around
that is feed everyone

they want what that will unleash
its the only fair world as far as their values are concerned...
"we must strive to become good ancestors" nader
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com

bentech
MPG Ambassador
Karma Hippie
Karma Hippie
Custom Title: eye the witch Melancholy
Location: socal
Has bestowed Karma : 33 times
Received Karma : 28 times
Posts: 17529
Joined: Mon Jun 06, 2011 1:38 pm

the petro dollar

Post by bentech »

China has sold $3 billion of sovereign dollar bonds. This is only the third such move by Beijing in the last 14 years, and the first involving bonds with a 30-year maturity.

China sold $1.5 billion of five-year bonds at 3.25 percent, $1 billion of 10-year bonds at 3.5 percent, and $500 million of 30-year bonds at four percent, the Finance Ministry said on Friday, as quoted by Reuters.

China has made the sale at a time when yuan has depreciated 10 percent against the dollar amid an escalating trade war with the US. “For any other normal corporate borrower the decision might have been to stand on the sidelines and wait for the market to stabilize a bit, but China is a little bit of a different animal,” a banker who worked on the deal told Reuters.

Printing machine: US Treasury issuing more bonds to feed soaring debt but there are no takers
Beijing is the largest holder of US debt. As of July, China had $1.17 trillion invested in debt minted by the US Treasury.


https://www.rt.com/business/441146-us-t ... hina-sale/" onclick="window.open(this.href);return false;
"we must strive to become good ancestors" nader
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com

Dick Fein
Karma Jackpot
Karma Jackpot
Custom Title: Wiki Freak
Posts: 925
Joined: Mon Oct 22, 2012 6:48 pm

the petro dollar

Post by Dick Fein »

Looks like the end of the road.

User avatar
Jesús Malverde
Site Moderator
Karma Bhudda
Karma Bhudda
Custom Title: Munchy Sock since OG lol
Has bestowed Karma : 70 times
Received Karma : 131 times
Posts: 2469
Joined: Fri May 27, 2011 6:59 pm

the petro dollar

Post by Jesús Malverde »

China traded interest bearing bonds denominated in USD for USD that bear no interest, thus depriving themselves of the interest income. :facepalm:
One for the rook

One for the crow

One to rot

and one to grow

bentech
MPG Ambassador
Karma Hippie
Karma Hippie
Custom Title: eye the witch Melancholy
Location: socal
Has bestowed Karma : 33 times
Received Karma : 28 times
Posts: 17529
Joined: Mon Jun 06, 2011 1:38 pm

the petro dollar

Post by bentech »

it was an investment...
"we must strive to become good ancestors" nader
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com

bentech
MPG Ambassador
Karma Hippie
Karma Hippie
Custom Title: eye the witch Melancholy
Location: socal
Has bestowed Karma : 33 times
Received Karma : 28 times
Posts: 17529
Joined: Mon Jun 06, 2011 1:38 pm

the petro dollar

Post by bentech »

The Central Bank of Russia has continued getting rid of US Treasury bonds in August. The share of Russian investments in American debt is getting close to zero.

Russian investments in US securities as of August have fallen to just $14 billion. Back in 2011, Russia was one of the largest holders of US debt with a $180 billion investment.

The reason is not only about politics and US sanctions against Russia, a broker at Otkritie bank Timur Nigmatullin told RIA Novosti. The US Federal Reserve is hiking interest rates, which makes American bonds cheaper, he said. “Russia has almost dropped out of the list of holders of US government debt, being the 54th largest holder.”

“A further sale of US Treasury bonds by Russia will most likely be compensated by buying gold and opening short-term deposits at banks,” he said. The share of precious metals in the country's foreign reserves has reached a record 18 percent, closely approaching the share of dollar investments.

The largest investors in US debt, China and Japan, have also cut their holdings. Chinese holdings of US sovereign debt dropped to $1.165 trillion in August, from $1.171 trillion in July, marking the third consecutive month of declines. Japan has slashed its holdings of US securities to $1.029 trillion in August, the lowest since October 2011.

The reason for holding money in US bonds is global trade, which is still dominated by the dollar, director of macroeconomic analysis at Expert RA Anton Tabah told Izvestia daily. So, countries are forced to have a lot of dollars in cash, and US bonds are the best option for that.

India and Turkey have followed Russia's lead. Turkey has dropped out of the top-30 list of holders of American debt, while India has been liquidating its investment for five consecutive months to $140 billion in August.


https://www.rt.com/business/441615-russ ... s-us-debt/" onclick="window.open(this.href);return false;




Sanctions are forcing Russia to find alternative settlement currencies to the US dollar to ensure the security of the country's economy, according to President Vladimir Putin.

“We are moving to the de-dollarization of the economy. We are doing so not because we want to undermine the dollar, but because we want to ensure our security. We are constantly facing sanctions, they do not give us the opportunity to work in dollars,” Putin said on Thursday at the Valdai Discussion Club meeting in Sochi.

The alternative to the greenback could become a basket of national currencies, an instrument being developed by BRICS countries. “If such tools are invented, it will be possible to get away from the dollar. As soon as this happens, the dollar will have hard times,” Putin said.
The Russian president said that the US is forcing a number of countries to abandon the dollar in international payments. “This is a typical mistake of an empire. Our American friends are undermining confidence in the dollar as a single currency,” Putin said.
“European countries want to trade w

ith Iran. They do not believe that Tehran violated any conditions of the nuclear deal. Therefore something like an alternative to SWIFT international payment system is being invented,” the president said.

https://www.rt.com/business/441677-russ ... of-dollar/" onclick="window.open(this.href);return false;
"we must strive to become good ancestors" nader
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com

bentech
MPG Ambassador
Karma Hippie
Karma Hippie
Custom Title: eye the witch Melancholy
Location: socal
Has bestowed Karma : 33 times
Received Karma : 28 times
Posts: 17529
Joined: Mon Jun 06, 2011 1:38 pm

the petro dollar

Post by bentech »

The Bank of England (BoE) is refusing to release around $550 million in gold owned by Venezuela back to the country over the UK regulator's claim of growing uncertainty about Caracas’s intentions for the 14 tons of gold bars.
"we must strive to become good ancestors" nader
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com

User avatar
roller24
Karma God
Karma God
Has bestowed Karma : 331 times
Received Karma : 493 times
Posts: 3337
Joined: Thu May 21, 2009 10:14 pm
Contact:

the petro dollar

Post by roller24 »

good video

User avatar
Butcher Bob
Karma God
Karma God
Has bestowed Karma : 1317 times
Received Karma : 921 times
Posts: 3894
Joined: Thu May 21, 2009 10:18 am

the petro dollar

Post by Butcher Bob »

What the fuk is going on with the oil market?
We have gas as low as $1.75/gallon in my state....most places are around $2.
That's a far cry from the $4+ we've seen before.
Good side is, fracking grinds to a halt when oil gets this low.
Bad side is.....something's going on. :notamused:

Post Reply