In this report I talk about the Petrodollar, the emerging Shanghai oil futures contract and what it all means for the world's monetary system.
International Energy Exchange (Shanghai): http://www.ine.cn/en/
China Delivers Knockout Blow to Petrodollar. Part 1: https://steemit.com/money/@maneco64/china-delivers-knockout-blow-to-petrodollar
China Delivers Knockout Blow to Petrodollar. Part 2: https://steemit.com/money/@maneco64/china-delivers-knockout-blow-to-petrodollar-part-2China
Delivers Knockout Blow to Petrodollar. Part 3: https://steemit.com/dtube/@maneco64/68rm73dr
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Just imagine for a minute, getting 1oz of gold for $35.....and then traveling to the future where gold is $1200!
ps please come by my channel if you want to chill to some sad vibes
Personally I don't like gold as an investment because every time a disaster has happened, people are really worried only about food and water
How much Precious Metals do you think is a good percentage to have in your retirement portfolio? Are you a believer of 10%?
@realestatecoach I think it is up to the individual do decide (depends on his/her circumstances) how much gold they want to save. I think of gold more as savings rather than an investment. The other point I would make is that the idea of retirement is something that has been imposed on people by the financial elites as they want us to keep pumping their fiat game. Why should I stop doing what I love at a certain age? So to answer your question it depends how much you save. If you save 10% of your earning then I would put it into gold and silver. Savings is not investing. The problem is that savings in fiat money does not exist anymore or doesn't pay as interest rates are near zero and inflation eats away at your capital so peole have been forced to invest in the stock market.
I think that you're right in the the petro yuan won't kill the US dollar. It may facilitate it's decline though. The US has been using sanctions as a weapon against other countries where it can freeze their dollars held in US banks and they all need to hold dollars if they want to buy oil. So, this is the beginning of undoing some of this.
I think gold and silver (monetary metals) will be the biggest beneficiaries.
I agree but we all know they are going to fight tooth and nail to keep them where they're at. A rising gold price is indicative of a failing currency and they are acutely aware of this. I think we'll see increased volatility in the 2nd quarter and entrance into the bear market in the 3rd.
you took the words out of my mouth @read3986, the US would go any length to ensure they are in charge, they wouldn't want to loose their influence to determine the world's economic power
Thanks dhamtex, we're seeing a good example of what you're talking about with Syria. Isis is gone and now the US is openly occupying a foreign country without the government's consent and is trying to split the place in half. The economic problems we're going to see 3rd quarter should bring a halt to that sort of thing.
as always excellent post , keep posting good stuff :)
I'm not convinced gold will go up in real value. I am convinced the dollar will go down though.
The thing though is that the dollar and gold are inversely related.
I expect gold to maintain it's real value but not really increase. Just because the dollar gets destroyed doesn't mean everything else in the world is suddenly more valuable it just means it's more expensive priced in worthless dollars.
I agree with you and that is why gold is such a great assurer of value. It might not make you uber rich but it will protect your life's work and efforts while fiat won't.
It may be better than the dying dollar but if you should probably buy some crypto as a hedge so you don't lose out. I think probably at least 10% of a portfolio should be in cryptos now in case they replace the dying normal fiat currencies. If cryptos really are becoming the new currencies than gold is a bleeding value asset but at least gold won't ever completely die like the USA dollar "might".
@mysearchisover I do have cryptos too. Steem is one of them and a few others. This is one of my posts earlier this year about the subject:https://steemit.com/market/@maneco64/why-precious-metals-and-crypto-currencies-are-my-investments-of-choice-in-the-next-few-years
That's arguable!
Well, the world is changing...
The million dollar question, though, is:
Will China overtly take control of Gold pricing (through the Shanghai Gold Exchange) away from London and New York?
Personally, (and I must mention that I have been living in China for the past decade and have become a great student of their politics and culture) I don't think they will.
They will let it (London & New York) implode first and then reveal their 20,000+ tons of gold reserves and then reprice gold much much higher.