A few months ago, there was big news that both Russia and China had made a historic agreement to by-pass the US Dollar by trading in both rubles and renminbi yuan for gold during oil and refined petroleum transactions. The move was hailed as a look into the future of the world where a Chinese-dominated petro-money would be seen as the preferred alternative to the US petrodollar. The new “petroyuan” as it is being called, will be used by no less than 23 countries and will eventually become the premier monetary unit in the world, replacing the US petrodollar and, ultimately, the US Dollar as the #1 reserve currency.
That said, there is also the Shanghai Cooperation Organization (SCO) to consider as well. This is a huge multi-national organization that has been climbing in membership since the late 1990s and continues to become a worrisome look into the future of a twin colossus to the NATO organization. Its members include China and Russia, but also an array of many Muslim nations across the Middle East who are interested in this cozy relationship for financial and infrastructure stability in a world dominated by the United States’ influence in every nation’s dealings.
Finally, there is the Brazil, Russia, India, China, South Africa (BRICS) organization that is a capable assist mechanism for the upcoming petroyuan system and could very well knock the United States out of its monetized monopoly. Experts are warning that this is a warning shot across the bow of the Federal Reserve and US Treasury, while Bible experts are quoting revelatory scriptures regarding the End Days.
Curiously, there is also a cooler-heads analysis that is being largely ignored and then there’s my take on all this. Turn to the next page to read about the launch of the Chinese petroyuan which will launch in approximately two months, and the intimated results of such a launch!
Hey. Eat me!!
Here is the real acid test for a global currency. Go anywhere in the world with Yuan as your currency. Most people would perceive it as play money and refuse it. Now take a greenback anywhere in the world and it is not only recognized but preferred and, although you probably don’t know the exchange rate, the locals do and they’ll most likely give you a better rate than a bank and thank you for it. The US dollar is the de facto world currency. In fact, it is generally recognized that there is more USD in circulation outside the US than in our own country. In fact, to ebb the flow of dollars exiting our country, US citizens are limited to $10,000 cash when going abroad.
ROFL Come on Folks… she has no friends and quotes crazy Bernie.. She’s either a bot or an idiot.. Either way, now worth your time.
So, when are we going to see the amazing benefits of trickle-down economics that didn’t work for Reagan, didn’t work for Bush, didn’t work for Brownbeck, but somehow are going to mysteriously transform under Trump? Why is it going to be different this time? And why is it an economic policy that is rejected by every other nation?
Because they know that to thrive, for demand to be generated, that the middle class need to have disposable income. They are the ones who generate demand for consumer goods. The rich can only buy so many white goods, cars, houses, electronics, etc. Taxing them on their expenditure is not going to net as much federal income as the multitude of purchases by the middle class. They drive the demand in the economy.
The tax cuts have yet to show how they create jobs, but demand for goods and services would create jobs. Ditching the tax cuts and trimming the military budget would provide funds for investing in infrastructure, create jobs,and salaries that would enable them to buy goods and services. Priming the pump.
Trickle-down is utter b******t. It lines only the pockets of the already wealthy, who simply sock it away offshore, doing absolutely nothing for the country.
Yet corporations can off-site as much as they like, it seems, with creative accounting to avoid tax.
This is not the first time that an alternative to the dollar has been sought. Nor will it be the last, because there is a lack of confidence in it, especially with the economic disparity it is based upon. It is unsustainable, and the world wishes to not share the economic implosion that current economic policies will produce, if it can avoid it.
The Euro was once touted as an alternative, and oil-producing nations considered it as an alternative. That would$#%&!@*over the US, which would then be subject to oil changing price based upon the exchange rate, not like now, where the cost of oil is in dollars and its fluctuations are smoother. If the dollar tumbles in value, the impact on the oil price in the US is ameliorated. Some day, that cushion is going to be removed, and will further affect ordinary Americans that will be already have been pissed on by trickle-down economics.
Yes, there is a lot of plastic tat that comes out of China, but at present, it is the manufacturing giant, largely because of its cheap labor. But mechanization and cheap energy is changing that, enabling America to compete with wages that are only slightly higher than in China. So manufacturers in the US can drive down costs by using machines, stripping back labor costs, but eventually, who are they going to sell to in the US, when vast numbers have no reliable income?
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Yes Michelle
Your right but China’s products are still bad ! Thats why I won’t by their trash ! Its cheap made their but still high priced you buy what you ask for !
Is that the best you can come up with? A bunch of memes with no analysis?
Basing currency on the most consumed non renewable resource… Sounds legit..
Let him!!