In this report I cover the recent news about the yuan backed oil futures contract set to start trading at the Shanghai International Energy Exchange by the end of 2017. I also explain how participants in this exchange will be able to easily convert their yuan holdings into physical gold.
China Delivers Knockout Blow to Petrodollar.
7 years ago in #money by maneco64 (75)
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Nice post...
Thanks @masum44
Same too u
With the Feds unable to raise interest rates and unable to dump their balance sheets when they bought up all the loans, the IMF is now looking at SDR's.
I still say we are going to a gold backed currency, gold will be used as one way to value a countries money, and It will give China a great boost, they have been acquiring it over the last many years, in not so sure quietly, everyone knows this, but it has been ignored by the business news and financial markets.
Just seeing how Gold and Silver has been held down yet it is being hoarded by governments , countries and so if it's good enough for them to stack it it's good enough for me too, silver has to be the most undervalued asset . Great video!!
@buster544 Thanks. A gold standard would make money neutral again and not a political instrument. Let's hope it happens.
Money will never be neutral
Dollars still exist? Wow, the world of crypto has really taken me in! Great video. I need to watch stuff like this sometimes to bring myself back down to earth and really understand what is going on economically overall...
Subscribed, upvoted and followed
I agree with you assetminds. We should all read up on crypto even if we do not get involved yet.
@assetminds Thanks for the feedback and follow.
Would I be right in saying if interest rate goes up that would not be Feds short term interest rate but the market.
Do you think it would send fear and sudden selling in the stock markets all over the world but more so the US. China becoming the world reserve currency would send shock wave around the world, but not the bankers or the fed.
@keela Yes by interest rates going up I mean more the longer term rates that the Fed does not control.
Gold backed trades but it's from a communist country which does not follow the 'rule of law' principle. Who will invest in a country where your assets can be seized?
+croat I have heard assets can be seized in the US too. It's called Civil Asset Forfeiture. Oh I forgot! FDR confiscated Americans' gold back in 1933 too. I actually would rather trade on the Shanghai Futures Exchange than on the CME.
Exactly! The land of the free is not so free. Trump just extended the Civil Asset Forfeiture law.
Thanks to know about this project of "Shanghai international crude oil contract".Hope it will bring lot of success and t able to take a good position in international exchange market.. Have stood day friend!
Everything considered, it looks to me that China would benefit from a higher Gold price. I haven't thought it through yet.
Oil caused disasters in the world because of wars
A: How is this going to affect the price of tea in China?
B: The conspiracy theorists point to an article in an article in "The Economist" from 1988 where it talks about a world currency. The cover of the magazine had a coin that said 2018 on it. It also has the word tea on it. Which is odd unless the word tea was some hidden code for China.