China could shatter petrodollar by compelling Saudi Arabia to trade oil in yuan

[TaiShang]

Okay gents, which of the following will become reality first?
China buys oil with its own money, China collapses, or India becomes shupa dupa power?
Cheers

India is already a superpower. Since 2012.

So, your question (that part) is invalid.

About the other part, China already uses Yuan partially in international trade. So, it will increasingly use Yuan for trade. And, China is the largest trading nation on Earth.

I think that's important by itself.

 

[Hamartia Antidote]

RMB can be changed to gold anytime.
http://www.thedailyeconomist.com/2017/09/china-ready-to-crush-petrodollar-and.html

That's not the regular Chinese Yuan. It's a future's contract backed by gold. For the regular Yuan you can't even go to a Chinese bank and convert a large sum into anything else never mind getting gold for it.

There's not enough gold on the planet to cover China's or the US's currency. Unless you want gold to be like $1M an ounce. Making almost everybody on the planet a multimillionaire. Or China drastically devalues the Yuan to 1/10000 of its current value making everybody in China poor again.

"China has already said it wants to start a crude oil futures contract priced in yuan and convertible into gold."

This is the key. Basically, the Chinese will buy Saudi oil using their yauns, with those yauns Saudis will go to Shanghai stock exchange and buy gold.

Gold standard is coming back in near future with new price indexing. Expect price of gold to rise in near future. Chinese wont be selling their horded gold for the suppressed cheap gold prices set by western financial institutions.

Gold is already at historically record highs. $41/gram!!! Lol! Isn't there some words in some book warning people not to idolize gold...
Untold numbers of people have died because of the bloodlust for their gold.

 

[rcrmj]

Pretty much everything, buddy.

well```the trend is going to be the other way around, that country was pretty much built on stolen land, money and technologies. When everything goes normal in the East there arent much things America can be proud of soon.

 

[Taimoor Khan]

Gold is already at historically record highs. $41/gram!!! Lol! Isn't there some words in some book warning people not to idolize gold...

There are many who are adamant that it is undervalued by the institutions like COMAX to support the dollar.

 

[Hamartia Antidote]

There are many who are adamant that it is undervalued by the institutions like COMAX to support the dollar.

How is $41 a gram of yellow shiny metal undervalued? It's already ridiculous. Where should it be?

 

[SBUS-CXK]

China needs to win the coming world war that it will have to eventually fight against United States and the mega-alliance of all white nations...the Last time China faced a mega-alliance of the Whites and Honourary whites (Japanese), it was not a favourable outcome..only good outcome from the Boxer Rebellion was the birth of the Scientific temper among the Chinese

If China can defeat this White Mega-Alliance, it would have won the right to be Saudi's protector...Best of Luck to the Whites as well as the Chinese. Civilizations march forward because of the overwhelming collective energy of its people...right now at this point in History, the Energy of the Chinese Civilization is overflowing at the brim

Fantastic fantasy. But the reality is different.

First of all, China has no propaganda of "super power". There is no intention of the "2.5 line war". There is no surgical attack on any country. China is just doing business. Why do all white countries fight China? What are their motivations? What benefits can they get?

So we should consider modi's "non monetization". How many poor people commit suicide? That's the main problem.

 

[Taimoor Khan]

How are western financial institutions suppressing gold prices?

Through paper gold and silver. It is estimated that for every ounce of physical gold the institutions like COMEX are storing in their vaults, there is 100 ounce in paper gold they are selling in market.

 

[Hamartia Antidote]

Why do all white countries fight China? What are their motivations? What benefits can they get?
.

Japan is white? Or are you just making a nonsensical statement throwing every white country on the planet into one big basket?

 

[Taimoor Khan]

How is $41 a gram of yellow shiny metal undervalued? It's already ridiculous. Where should it be?

Its estimated that, for every ounce of physical gold, institutions like COMEX are selling 100 ounce of paper gold in market. You can do the math, the real value of physical gold.

 

[SBUS-CXK]

Japan is white?

So the US and Japan are "all white countries"?

 

[Hamartia Antidote]

So the US and Japan are "all white countries"?

Why do all oriental countries fight all oriental countries?

 

[Taimoor Khan]

No. But if it is -- why not ? Same topic no matter who wrote the article.


Right...Every time 'it is real'.

Back then, people cried out for the Soviets to save them from the US. Today, it is supposedly China the inevitable and next power to replace the US and save you. All these yrs, one 'could' after another 'could'. And each time, the Chinese dragon slink away.

If someone is going to replace US, it will happen in your great grandchildren's lifetime.

Then you dont have to worry about anything. I am happy, you are content, bob is your uncle!

 

[SBUS-CXK]

Why do all oriental countries fight all oriental countries?

No, Pakistan, Bangladesh, Sri Lanka, Nigeria, Burma, Thailand, Malaysia, Philippines, Iran, Iraq, Saudi Arabia, Kuwait, Turkmenistan, Uzbek, Buick... They are China's weapons customers.

So why say "all white countries fight China"?

 

[Hamartia Antidote]

Its estimated that, for every ounce of physical gold, institutions like COMEX are selling 100 ounce of paper gold in market. You can do the math, the real value of physical gold.

The value of gold is what somebody on some day is willing to pay for it. If you feel like paying $500 for a gram of gold then nothing is stopping you from paying that amount...unfortunately most people these days think $41 a gram is the most they'd pay.

This is like people seeing some item they own listed on eBay for $500...so their's must be worth $500 too. Unfortunately it is only worth anything when somebody actually buys it. Until then $500 is just a price.

No, Pakistan, Bangladesh, Sri Lanka, Nigeria, Burma, Thailand, Malaysia, Philippines, Iran, Iraq, Saudi Arabia, Kuwait, Turkmenistan, Uzbek, Buick... They are China's weapons customers.

So why say "all white countries fight China"?

They are also customers of countries other than China. So if you call simple competition "white"' fighting then I guess you have issues.

 

[Yaseen1]

u.s will attack SaudiArabia if they not sell oil in dollars