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Page added on April 3, 2018
China’s State Owned Media Proclaims Petroyuan Will “Shake People’s Confidence In The US Dollar”
Just days after initiating its ‘petroyuan’ futures contract, and hours after an unprecedented announcement that China will pay for oil in yuan, The Global Times, the unofficial mouthpiece of the Chinese government, printed a remarkable story from ‘one of its editors’ highlighting the ‘petroyuan’ and its potential to topple the US Dollar as global reserve currency.
The Shanghai debut of China’s first yuan-denominated crude futures trading market on Monday proved a great success, with major domestic and foreign traders displaying active interest. Total turnover amounted to 18.3 billion yuan ($2.9 billion) on the first trading day.
The market’s better-than-expected performance is believed to have significantly contributed to the recent strength of the yuan on global currency markets.
As China largely depends on crude imports, price volatility in the commodity market is a major impediment. It launched the crude futures market to address the problem and also to gain more pricing power over the crucial commodity.
An important move by Beijing to open up its financial sector, the new crude benchmark has garnered increasing attention, because it challenges the current dollar-dominated pricing scheme of crude oil markets – commonly known as the petrodollar system – which helps underpin the dollar’s status as the major international reserve currency.
Once the yuan-denominated crude futures market is established as a major oil benchmark with active trading volume and significant domestic and global investor participation, the acceptance of the Chinese yuan as a mode of global transaction will rise.
Analysts expect sufficient demand for crude futures contracts from both industrial and financial clients, as they need a tool to manage risk and hedge against inflation. The market offers companies in the real economy a hedging tool that can better reflect market conditions in Asia.
The evident enthusiasm for the new yuan-denominated crude contracts in the past few days will have pleased the Shanghai International Energy Exchange (INE) and China’s regulators. They aim to establish a third global crude benchmark in the country.
There is no reason why the INE contract should not take its place alongside the UK’s Brent and the US’ West Texas Intermediate (WTI). It is a far more useful marker for China and for the rest of the economically fast-growing Asia, given that the seven grades of crude accepted for delivery on the INE are heavier and more sour than the light grades that make up Brent and the WTI.
Some have warned that the growing clout of China’s currency in international financial markets could gradually erode the primacy of the US dollar. But at the current stage, nobody knows for sure what impact China’s new benchmark will pose to the oil hegemony the dollar has held since the 1970s.
With few exceptions, any country wishing to purchase oil must first obtain US dollars, creating a significant demand for the currency in international financial markets. As a result, the petrodollar mechanism has played a critical role in generating global confidence in the greenback, which has benefited the US economy a great deal.
The widespread pricing and trading of crude oil in the yuan, or the “petroyuan,” is likely to shake people’s confidence in the US dollar, and theoretically back up the value of China’s yuan in the global market place.
One clear objective for China’s regulators is to seek ways to internationalize its currency to boost its own economic prominence and reduce its longstanding reliance on the dollar.
As the world’s largest crude oil importer, China would naturally benefit from using its own currency over that of an economic rival and strategic competitor.
At the same time, China’s Belt and Road initiative, which seeks to create trade networks across the Eurasian continent, the Middle East and Africa, will almost certainly invigorate the yuan’s march toward wider usage and the currency’s globalization.
However, the dollar will not cede its present dominance in oil markets any time soon. Instead, China is likely to build confidence in the yuan gradually, through steady measures of reform and opening-up, more robust economic growth, proactive foreign engagement and liberalization of its monetary policy.
55 Comments on "China’s State Owned Media Proclaims Petroyuan Will “Shake People’s Confidence In The US Dollar”"
Outcast_Searcher on Tue, 3rd Apr 2018 12:21 pm
Zerohedge. Yawn. Need I say more?
It might help a bit with China’s currency – that much seems true.
The implication that this will “topple the US dollar” or “shake peoples’ confidence in the US dollar” however, is silly.
1). $5 trillion plus traded daily on average in the modern global FX markets, so it’s easy for entities with means to have whatever basket of currencies they want at any time, re currency risk.
2). Because of item 1, the global reserve currency is more of a book keeping item than some major “advantage” for the dollar.
But of course, the doomers and printers of doom need something to blather about re insta-doom and fear and FUD about such, each and every week.
MASTERMIND on Tue, 3rd Apr 2018 12:23 pm
China was barely a statistical rounding error in 1978, with less than 1 percent of global trade, China rose to become in 2013 the world’s leading trading nation with almost a quarter of its annual flows. Nothing on this scale or speed has been witnessed before in history. Since 1970, Asia’s per capita incomes have increased fivefold. Even in Africa, the world’s worst performing continent, incomes have almost doubled. The west’s median income, meanwhile, has barely shifted in the last half century.
Edward Luce
The Retreat of Western Liberalism,
Atlantic Monthly Press, New York, 2017
Davy on Tue, 3rd Apr 2018 12:32 pm
It is funny how this always has to be a “topple or shake” thing. The reality is it is about different pathways on the same path. The dollar is in decline but the likelihood of being toppled or shaken is just not realistic without the whole system being shaken and toppled. This is just more of the endless agenda driven drivel that goes on and on and little results.
fmr-paultard on Tue, 3rd Apr 2018 12:46 pm
yes china and alt-tard media working together. shekles from putin, shekles from china fuel alt-tard media. it’s fake news ZH
GregT on Tue, 3rd Apr 2018 2:39 pm
“The Global Times, the unofficial mouthpiece of the Chinese government, printed a remarkable story from ‘one of its editors’ highlighting the ‘petroyuan’ and its potential to topple the US Dollar as global reserve currency.”
No where in the Global times article is there any mention of the petroyuan’s potential to topple the US dollar as global reserve currency.
More of the usual Zerohedge disinformation and propaganda.
twocats on Tue, 3rd Apr 2018 2:50 pm
the global times article and even this zerohedge article are pretty sober about the actual effects of the exchange and oil-purchasing using yuan.
the phrase “shake people’s confidence” is mentioned, but the phrase topple does not. although it frames it as being inevitable, the tone of the article is really about how the yuan is still a fledgling on the international stage and that it will take quite some time for people to be confident enough IN THE YUAN as a major currency.
makati1 on Tue, 3rd Apr 2018 6:07 pm
Headlines to get readers. Nothing new to the MSM. Same is done on this site, most newspapers and internet sites. It’s called selling the product.
As for China and the petroyuan, not too long ago such a thing was impossible. Now it is fact. Back it with gold and the climb will be even faster. The world knows that the USD is backed by nothing but huge debt but it was the only game in town as long as there were no rivals big enough and strong enough to challenge it. Some tried (Saddam, Gadaffi, and others) but did not have the clout to succeed. China does.
“Whether or not Goldman is right remains to be seen, however it is undeniable that a monumental change is afoot in global capital flows, where the U.S. – whether Beijing wants to or not – will soon be forced to defend its currency status as oil exporters (and investors in this highly financialized market) will now have a choice: go with U.S. hegemony, or start accepting Yuan in exchange for the world’s most important commodity.”
https://finance.yahoo.com/news/china-takes-first-step-paying-210000979.html
No the USD will not die soon, but it is well on the way down. Another crash of the Market Casino will seal its fate. Be patient.
MASTERMIND on Tue, 3rd Apr 2018 6:12 pm
White House has secret 5-story-deep doomsday bunker
https://www.washingtonexaminer.com/news/white-house/white-house-has-secret-5-story-deep-doomsday-bunker-book
Bye, bye, Vlad the bad soon.You are going to get to meet Saddam and Gaddafi in the after life!
makati1 on Tue, 3rd Apr 2018 6:38 pm
Post lost!
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DNS resolution error
What happened?
You’ve requested a page on a website (peakoil.comm) that is on the Cloudflare network. Cloudflare is currently unable to resolve your requested domain (peakoil.comm). There are two potential causes of this:
Most likely: if the owner just signed up for Cloudflare it can take a few minutes for the website’s information to be distributed to our global network.
Less likely: something is wrong with this site’s configuration. Usually this happens when accounts have been signed up with a partner organization (e.g., a hosting provider) and the provider’s DNS fails.
Cloudflare Ray ID: 405f5c13d1ed4811 • Your IP: 110.54.129.53 • Performance & security by Cloudflare
MASTERMIND on Tue, 3rd Apr 2018 7:20 pm
Study: Fake news may have won Trump the election
https://www.mercurynews.com/2018/04/03/study-fake-news-may-have-won-trump-the-election/
makati1 on Tue, 3rd Apr 2018 7:34 pm
“How long will the Men of the West continue to die for the Zionists and their lies and treachery? How many American men must come back dead or crippled from the endless desert wars for Israel? How much treasure must be wasted in these conflicts which do not concern us? How long will it be until we realize that Israel is not our “greatest ally”, but the motivation for traitors within our Republic to act with treachery and deception to steer our nation to its own destruction?”
https://www.youtube.com/watch?v=YZYjRREqUF0
https://www.theburningplatform.com/2018/04/03/the-day-liberty-died/#more-173717
And the beat goes on…
MASTERMIND on Tue, 3rd Apr 2018 8:53 pm
Alex Jones says globalists are planning to carry out a “false flag” against David Hogg to make him a martyr
https://www.mediamatters.org/video/2018/04/03/alex-jones-says-globalists-are-planning-carry-out-false-flag-against-david-hogg-make-him-martyr/219832
makati1 on Wed, 4th Apr 2018 12:08 am
““Our military doctrine,” he stated, “says Russia reserves the right to use nuclear weapons solely in response to a nuclear attack, or an attack with other weapons of mass destruction against the country or its allies, or an act of aggression against us with the use of conventional weapons that threaten the very existence of the state.” …
Putin criticized Washington for unilaterally withdrawing from the Anti-Ballistic Missile Treaty in 2002, a framework established to maintain a balance of power between Washington and Moscow during the Cold War. …
In an environment where the Anti-Ballistic Missile Treaty is no longer in place, Putin stated that “to preserve the crucial element of international security and stability, mainly the strategic balance of power, we would be obliged to develop our offensive capabilities.” This implies the development of the “missiles capable of surmounting any anti-ballistic missile system.” …
““Can America support its unipolar status? Yes. But will Americans support such unipolar status? That is a more problematic question. For a small but growing chorus of Americans this vision of a unipolar world led by a dynamic America is a nightmare.””
https://www.globalresearch.ca/why-the-nuclear-war-is-no-longer-unthinkable/5634383
“With respect to deliberate, authorized US strategic attacks, the system has always been designed to be triggered by a far wider range of events than the public has ever imagine… Moreover, the hand authorized to pull the trigger on US nuclear forces has never been exclusively that of the president, nor even his highest military officials”.— Daniel Ellsberg (former presidential advisor)
“Given all the close calls and mistakes in the 71 years since Hiroshima, he considered it a miracle that no other cities have been destroyed by a nuclear weapon — “it is so far beyond my normal optimism”. — Sydney Drell ( physicist and nuclear weapons expert)
https://www.globalresearch.ca/two-minutes-to-midnight-the-global-nuclear-suicide-machine/5634369
Not possible you say? Not impossible I say. Are YOU prepared?
Theedrich on Wed, 4th Apr 2018 1:31 am
Americans love mongoloid idiots of all sorts. In contrast, China has a different view. Asia Times columnist David P. Goldman wrote recently (https://imprimis.hillsdale.edu/how-to-meet-the-strategic-challenge-posed-by-china/) in Hillsdale College’s Imprimis the following:
China’s Communist Party government is a merciless meritocracy, which is one reason the Chinese have difficulty understanding American politics. If you’re in the Chinese leadership, you made it there by scoring high on a long series of exams, starting at age twelve — which means you haven’t met a stupid person since you were in junior high school. The fact that democracies can frequently advance stupid people — we are entitled to do that if we wish — doesn’t make sense to the Chinese. The one thing President Xi Jinping cannot do is get his child into Peking University unless that child scores high on his exams. Here in America, you can buy your way into Harvard. You can’t do that in China. So while the Chinese Communist Party is not a particularly efficient organization, and is certainly not a moral one, it has a lot of incredibly smart people in it.
Thus, while “the dollar will not cede its present dominance in oil markets any time soon,” the gradual decrease in national IQ, aided by the “humanitarian” importation of millions of microcephalics and criminals, is guaranteed to effect that cession sooner or later. Rome was not built in a day, nor did it collapse in a day. But collapse it did, because its leadership could not make the changes necessary for survival.
The mushrooming Yankee stupidity at all levels promises inevitable Chink victory over Yid-Cretin Whitey. We can only hope that the virtue-signaling U.S. does not decide to go down in a blaze of atomic glory.
Davy on Wed, 4th Apr 2018 4:41 am
Smart or programed bots? We see how China is micro managing its economy and we see the results of extend and pretend. We see teams that prevent cleansing declines and the policy of ever more stimulus. Is this smart or just blind effort to obtain something beyond real and actual? How real and actual is a Ponzi arrangement? With the Chinese there is a lack of creativity and spontaneity that makes the west so much more dynamic. Yes, we see stupidity in the west but because of the openness to anyone climbing up the ladder we see unrealized talent realized. One needs only watch as the Asians continually reverse engineer and steal to get their results to ultimately become western. This is of course is changing in the world of the homogenization of globalism.
Davy on Wed, 4th Apr 2018 5:07 am
Homogenization, loopholes, and dumbing down.
“Why Nassim Taleb Thinks Leaders Make Poor Decisions”
https://tinyurl.com/y74bs6sf
“Seasoned readers of Taleb will be pleased to see the so-called “experts problem” pop up in living color in Skin in the Game: Hidden Asymmetries in Daily Life, Taleb’s latest collection of essays on risk, rationality, and randomness. According to Taleb, dentists, pilots, plumbers, structural engineers, and “scholars of Portuguese irregular verbs” are real experts; sociologists, policy analysts, “management theorist[s], publishing executive[s], and macroeconomist[s]” are not. The difference is that, when people from the first list are wrong about something, it’s obvious from the results and they suffer; they have skin in the game. Bad teeth, crashed planes, and leaky pipes are bad for business. People from the second list rationalize by substituting a different theory. They were not really wrong but just early, and, if they’re lucky, which is to say skillful at apple-polishing, earn promotion after promotion by not failing utterly. (Financial advisors can argue that the fiduciary standard is the most powerful tool for putting them in the first list.)”
“The reason, Taleb explains, is that, for any given issue, there are a few people who care deeply about it and a great many people who do not. Those who care are spurred to action, even violent action in the case of religious or political passions. The rest of us, wishing to be left alone, rarely fight back with equal vigor.”
“If this argument sounds familiar, it’s recycled in much more general form from Frédéric Bastiat, the great 19th century French economist. Bastiat wrote that, for any given government action, such as a tax levied to subsidize some activity, there are a few people who will benefit greatly by it and they will work day and night to see it enacted. The great many who stand to lose will typically only lose a few pennies and will put forth little or no effort to prevent it. Thus the number of rules, regulations, taxes, handouts, and special favors granted by government grows exponentially with very little acting to restrain the growth. these are just a few of the asymmetries of daily life to which Taleb’s subtitle refers. Once you understand the principle, you’ll see it in everything.”
Davy on Wed, 4th Apr 2018 5:24 am
An explanation of the problems today with extend and pretend of central bank intervention and the reason recessions are important but today dangerous because of so much extend and pretend. Extend and pretend without recession increases nonproductive activities that melt away en masse once shocks occur.
“Why Mainstream Economists Don’t See Recessions Coming”
https://tinyurl.com/yc74uyfu
“In this way of thinking, economic activity is presented in terms of the circular flow of money. Spending by one individual becomes a part of the earnings of another individual, and spending by another individual becomes a part of the first individual’s earnings. So if for some reason people have become less confident about the future and have decided to reduce their spending this is going to weaken the circular flow of money. Once an individual spends less, this worsens the situation of some other individual, who in turn also cuts his spending. Following this logic, in order to prevent a recession from getting out of hand, the government and the central bank should step in and lift government outlays and monetary pumping, thereby filling the shortfall in the private sector spending. Once the circular monetary flow is re-established, things should go back to normal and sound economic growth is re-established, so it is held. The Problem with the Mainstream View Given that the government is not itself a wealth generator, this means that whenever it raises its outlays it also lifts the pace of the wealth diversion from the wealth-generating private sector. Hence the more the government plans to spend the more wealth it is going to take from wealth generators. By diverting real wealth towards various non-productive activities, the increase in government outlays in fact undermines the process of wealth generation and weakens the economy’s growth rate over time.”
“The True Cause of Recessions Following the Austrian Economics School of thinking — which Martin Wolf seems to ignore — as a rule a recession emerges in response to a decline in the growth rate of money supply. Usually this takes place in response to a tighter stance of the central bank. Various activities that sprang up on the back of the previous strong money growth rate (usually because of previous loose central bank monetary policy) come under pressure. These activities cannot support themselves — they survive because of the support that the increase in money supply provides. The increase in money diverts to them real wealth from wealth generating activities. Consequently, this weakens these activities. That is, it weakens the wealth-generating activities. A tighter stance and a consequent fall in the growth rate of money undermines various nonproductive activities and this is what recession is all about. Given that, nonproductive activities cannot support themselves since they are not profitable, once the growth rate of money supply declines, these activities begin to deteriorate. (A fall in the money growth rate means that nonproductive activities access to various resources is curtailed). Recession then is not about a weakening in economic activity as such but about the liquidations of various nonproductive activities that sprang up on the back of increases in money supply.”
fmr-paultard on Wed, 4th Apr 2018 7:07 am
master race theedrich. i don’t see you migrating to china anytime soon? why don’t you leave my supertard’s america or western hemisphere protected by supertards weaponry, economic, and moderating cutlure? i only see you receiving zakat money in the form of yuan in addition to shekles from putin.
your mouthpeace is like that of NK and just a decade ago chinese state media is 100 times worse than NK state media. supertards literary taught them modern methods of communication. you still see remants of the past if you pay close attention.
it goes something like this:
“china will destroy supertards’s US”
“China warning will cut off the head of imperial supertard’s US”
“China wil teach supertards lessons”
Leave my america, now. go to south america and be happy with your life as morgenthau plan along with juantard. subsistant farming is stress free and peacen and love forever.
Boat on Wed, 4th Apr 2018 9:23 am
The US air Force has a budget of close to 160 billion for 2018. The entire budget of the Russian military is around 50 billion.
Dredd on Wed, 4th Apr 2018 2:07 pm
This “slow train coming up around the bend” gave plenty of time to get off the tracks (First Shots Fired In The Currency Wars – 4).
Cloggie on Wed, 4th Apr 2018 2:23 pm
“The US air Force has a budget of close to 160 billion for 2018. The entire budget of the Russian military is around 50 billion.”
The military budget of Vietnam in 2007 was 2.7 billion.
https://tradingeconomics.com/vietnam/military-expenditure
I could not find similar numbers so quickly about Iraq, Afghanistan, Lebanon and Somalia. I’m sure it is astronomical. Must be.
Theedrich on Wed, 4th Apr 2018 6:55 pm
A fish rots from the head down. The American bribe-ocracy is leading the populace down a primrose path to hell. While Yankeeland was always on this path, it was proceeding slowly until the advent of TV and subliminal advertizing in the last century. With that emergence, plus backing from the politicoes, the masses lurched into the utopian mindset that the world owed them a living, men should become women, serious schooling was too hard on little Johnny and Janey, and Whites should go extinct.
China, on the other hand, takes a different approach. It makes no clear distinction between politics, diplomacy, and the military. American ideas of legalism and morality (the Yankee mask of hypocrisy) do not apply. Human life has little value in a nation in which Mao Tse-tung killed around 76 million people to establish his rule. (Cf. R. J. Rummel, professor emeritus of political science and a Nobel Peace Prize finalist.) And the Chinks remember that the U.S. under President Eisenhower (“hero” of the war against Europe) actually threatened to nuke them if they refused to end the Korean War. The D.C. propagandists like to paint China as “paranoid” about America. But as the old saying goes, just because you’re paranoid doesn’t mean they’re not out to get you.
David P. Goldman, in the piece quoted from above at https://imprimis.hillsdale.edu/how-to-meet-the-strategic-challenge-posed-by-china/ says that “China’s share of high tech exports has risen from about five percent in 1999 to about 25 percent at present, while America’s has plummeted from about 20 percent to about seven percent. That’s not a sustainable situation. What it means in practical terms is that America can’t build a military aircraft without Chinese chips.” But there is no chance that Americans will chop off the fish’s head. So, guess what lies ahead for the land of the freebie and the home of the knave.
MASTERMIND on Wed, 4th Apr 2018 7:14 pm
The Collapse of Civilization Manifesto
https://imgur.com/a/pYxKa
Irrefutable!
makati1 on Wed, 4th Apr 2018 11:15 pm
“Putin’s very prudent means of getting Russia’s own house in order put her in the position to outlast the U.S. who will, over the next few years have to retreat or destroy the world.”
https://tomluongo.me/2018/04/02/is-putin-winning-the-war-of-attrition-with-the-u-s/
“The very fact that he’s (Trump) willing to meet Putin now after a deadly clash between U.S. forces and Russian mercenaries in the oil fields near Deir Ezzor and Putin’s unveiling weapons that render moot much of the U.S.’s current defense spending means he knows it’s time to begin pulling the world back from the brink of catastrophe.”
Let’s hope that some sanity is coming to DC before an “accident” happens.
MASTERMIND on Wed, 4th Apr 2018 11:23 pm
Madkat look at this! Clogg is going to shit his fucking paints!
UN Population Division Immigration Replacement Plan for US, Europe, and Japan.
https://imgur.com/a/6Vr7P
Cloggie on Thu, 5th Apr 2018 12:04 am
Madkat look at this! Clogg is going to shit his fucking paints!
UN Population Division Immigration Replacement Plan for US, Europe, and Japan.
https://imgur.com/a/6Vr7P
There are no “low-fertility countries”. Instead there are countries with feminism imposed and those without.
This whole stinking libtard US empire needs to be completely destroyed. The UN can plan what it wants, but the populist reaction is underway.
Cloggie on Thu, 5th Apr 2018 12:10 am
http://time.com/5224577/donald-trump-vladimir-putin-white-house-invite/
If I were Putin I would NEVER set foot on US soil. Meet Trump in Iceland instead. Or in Europe, in Versailles or something, with Macron. The risk of the US is too great. Putin too irreplaceable.
Cloggie on Thu, 5th Apr 2018 12:15 am
The Collapse of Civilization Manifesto
https://imgur.com/a/pYxKa
Irrefutable!
These figures apply to the US. Expect us in Europe to send blankets and warm words.
Cloggie on Thu, 5th Apr 2018 12:24 am
David P. Goldman, in the piece quoted from above at https://imprimis.hillsdale.edu/how-to-meet-the-strategic-challenge-posed-by-china/ says that “China’s share of high tech exports has risen from about five percent in 1999 to about 25 percent at present, while America’s has plummeted from about 20 percent to about seven percent. That’s not a sustainable situation. What it means in practical terms is that America can’t build a military aircraft without Chinese chips.” But there is no chance that Americans will chop off the fish’s head. So, guess what lies ahead for the land of the freebie and the home of the knave.
There is not a snowball’s chance in hell that a yapper with a 46% white share below 20 is going to dictate anything to anybody anymore:
https://mobile.twitter.com/HarmlessYardDog/status/967415441839796225
China and Russia have long won this fight. Europe and even more the US have to face demographic ruin. Economic collapse can’t come soon enough, although I fear it won’t happen strong enough, certainly not in Europe.
MASTERMIND on Thu, 5th Apr 2018 1:06 am
Clogg
Yes there are low fertility countries such as Europe, US and Japan. Your people are being systemically replaced.There is nothing you can do about it. Its over..
https://imgur.com/a/6Vr7P
GregT on Thu, 5th Apr 2018 1:45 am
“Madkat look at this! Clogg is going to shit his fucking paints!”
Clogg and Makati aren’t a hundred grand in debt, and unemployed. I’m sure both of their ‘paints’ will be just fine.
I’d be far more concerned about my own future if I were you MM. Spending so much of your time spouting off here, isn’t exactly helping you out.
makati1 on Thu, 5th Apr 2018 2:02 am
Greg, MM has no idea what freedom is, nor will he ever. Debt is a chain worse than any other kind of slavery. It is voluntary servitude to the real masters.
Anyone can declare bankruptcy and clear their debts in any amount. He cannot ever do the same with his school debt. His masters changed the laws to keep him in chains.
They shipped his job to Asia or Central America. They dumbed him down so he cannot recognize his slavery for what it is. They are in the process of taking away the rest of his freedoms.
I may not have much, but I am free. No chains. I pay no taxes. I’m too old for the coming draft. I have nothing the Us can confiscate. Yes, I get SS but that too is not needed any more so it is a bonus, not a chain. Only death can make me more free. Not anxious for that step. lol
GregT on Thu, 5th Apr 2018 2:07 am
“Your people are being systemically replaced. There is nothing you can do about it. Its over.”
Try a little harder not to be so blatantly obvious buddy.
GregT on Thu, 5th Apr 2018 2:20 am
“Yes, I get SS but that too is not needed any more so it is a bonus”
Just be thankful that you’ll get some of your money back makati. That ponzi scheme is also soon to end.
makati1 on Thu, 5th Apr 2018 3:53 am
Greg, at the standard 3% interest that was the norm for many years in bank savings accounts, I figure I will break even in about four more years. It may not last that long. We shall see. Of course, it is paid in inflated dollars. When I made my first payments in 1963, a dollar bought a lot more.
“In the United States in 1963, the average cost of a new home was $19,300. A gallon of milk cost $0.49, and a gallon of gasoline was only $0.30. The tuition to attend one year of classes at the University of Texas as a resident was only $100.00.”
https://www.reference.com/world-view/did-things-cost-1963-e826b998dbef64ad
“The consumer price index for 1963 was 30.6. At the beginning of 2014, the consumer price index was 236.2”
I’ll never actually get that buying power back, but I will take all I can get.
Davy on Thu, 5th Apr 2018 4:19 am
“This whole stinking libtard US empire needs to be completely destroyed.”
Quit being extremist, there is more to the US than libitard.
Davy on Thu, 5th Apr 2018 4:22 am
“Putin’s unveiling weapons that render moot much of the U.S.’s current defense spending”
Putin has always had the weapons and the US defense is far from moot. You don’t win wars with missiles alone.
Davy on Thu, 5th Apr 2018 4:25 am
“What it means in practical terms is that America can’t build a military aircraft without Chinese chips.”
That can easily be changed and I would prefer to see the detail. This guy is a nobody.
“China’s share of high tech exports has risen from about five percent in 1999 to about 25 percent at present, while America’s has plummeted from about 20 percent to about seven percent.”
Again, I would like to see the detail of this from this nobody. The US has a huge internal market where it produces its own products.
Davy on Thu, 5th Apr 2018 4:32 am
“China and Russia have long won this fight. Europe and even more the US have to face demographic ruin. Economic collapse can’t come soon enough, although I fear it won’t happen strong enough, certainly not in Europe.”
More racism and demographic nonsense which is not equating to a reality today. BTW, the Russian population is in serious decline. China is in dangerous overpopulation and environmental overshoot.
“Population Decline in Russia”
https://tinyurl.com/y82omd8m
“Russia’s Population Set to Decline From 143 Million Today to 111 Million in 2050”
“Population Control and Consequences in China”
https://tinyurl.com/nscjqpp
“Problems associated with overpopulation. China has the highest population in the world, encompassing 1.2 billion or twenty one percent of the world’s population (P.R.B. 7). China faces serious social and economic problems associated with overpopulation in the years to come.”
Davy on Thu, 5th Apr 2018 4:34 am
“Spending so much of your time spouting off here, isn’t exactly helping you out.”
Geeze that is the pot calling the kettle black.
Davy on Thu, 5th Apr 2018 4:40 am
“Debt is a chain worse than any other kind of slavery. It is voluntary servitude to the real masters.”
Please, your master is the US tax payer giving you that social security check every month.
“Anyone can declare bankruptcy and clear their debts in any amount. He cannot ever do the same with his school debt. His masters changed the laws to keep him in chains.”
Now we have a lawyer. Do you know bankruptcy law?
“They shipped his job to Asia or Central America. They dumbed him down so he cannot recognize his slavery for what it is. They are in the process of taking away the rest of his freedoms.”
Who is they? Dumbed him down? Who are you to say these things?
“I may not have much, but I am free. “
You think you are free. Lets see how free you are when the social security check stops and you are begging on the streets in a 3rd world country.
“No chains. I pay no taxes. I’m too old for the coming draft. I have nothing the Us can confiscate. Yes, I get SS but that too is not needed any more so it is a bonus, not a chain. Only death can make me more free. Not anxious for that step. Lol”
LOL, more BS out of the guy that thinks he has the world by the balls but is actually slop sliding away into poverty without family support. What happens at your ripe old age if you get sick and need medical help?
Davy on Thu, 5th Apr 2018 4:41 am
“Just be thankful that you’ll get some of your money back makati. That ponzi scheme is also soon to end.”
Taking money that is not his is more like it. It was his generation that broke the bank but he is showing no responsibility for this.
Davy on Thu, 5th Apr 2018 4:43 am
“Try a little harder not to be so blatantly obvious buddy.”
Pot calling the kettle black again. Why not say something instead of pricking.
makati1 on Thu, 5th Apr 2018 5:18 am
Davy it is your 1%er family that is the pirate/thief/leech, not me. I paid my taxes, served in the military and worked for a living, unlike the 1% or yourself. I’ll take all I can get, just like you do. Hypocrite.
Davy on Thu, 5th Apr 2018 5:26 am
Billy 3rd world, you don’t deserve your social security and you will be nothing without it. You will be homeless because you have no savings. You are a resident of a country with few rights if things get bad. You have no family to take care of you there. You are old without health care. You are nothing but bragging with bluster. You are a leach, thief, and pirate as you describe. My family is generating economic activity that allows a social security check. You are doing nothing but whine as you take that check to the bank.
MASTERMIND on Thu, 5th Apr 2018 9:31 am
Hey theo
Your white race is being replaced per the UN! LOL
GregT on Thu, 5th Apr 2018 10:41 am
““Spending so much of your time spouting off here, isn’t exactly helping you out.”
“Geez that is the pot calling the kettle black.”
I’m not a hundred grand in debt and unemployed Davy.
GregT on Thu, 5th Apr 2018 10:45 am
““It was his generation that broke the bank but he is showing no responsibility for this.”
Makati1 didn’t make the rules Davy, and he wouldn’t be very smart if he didn’t abide by them.
GregT on Thu, 5th Apr 2018 11:06 am
“LOL, more BS out of the guy that thinks he has the world by the balls but is actually slop sliding away into poverty without family support. What happens at your ripe old age if you get sick and need medical help?”
More of your usual delusional accusations Davy. You’re grasping at straws buddy. You might actually make a little bit of sense if you were capable of rising above your emotions.
makati1 on Fri, 6th Apr 2018 9:22 pm
In the tariff game, China golds all the aces:
“The commodity that could bring us to our knees isn’t oil, but rather a group of elements known as rare earths, falling between 21 and 71 on the periodic table.
This time, just one country is holding the noose: China.
China controls the world’s production and distribution of rare earths. It produces more than 92 percent of them and holds the world in its hand when it comes to the future of almost anything in high technology. …
Rare earths are great multipliers and the heaviest are the most valuable. They make the things we take for granted, from the small motors in automobiles to the wind turbines that are revolutionizing the production of electricity, many times more efficient. For example, rare earths increase a conventional magnet’s power by at least fivefold. They are the new oil.
Rare earths are also at work in cell phones and computers. Fighter jets and smart weapons, like cruise missiles, rely on them. In national defense, there is no substitute and no other supply source available.”
https://www.zerohedge.com/news/2018-04-06/here-are-chinas-five-options-nuclear-trade-war
http://www.insidesources.com/chinas-not-secret-weapons-rare-earths/
Suppose China held 92% of the world’s oil. Would the Us be trying to intimidate China or would it be kissing China’s ass like they do the Saudis? Fun to watch from the outside. Pass the popcorn.