China Is Days Away From Killing the Petrodollar


darkbeaver
#1
China Is Days Away From Killing the Petrodollar

by Nick Giambruno, Senior Editor


Not long ago, there was a popular joke in China that went something like, “Who is Xi Jinping?”
The answer was, “The husband of Peng Liyuan,” the famous singer Xi is married to.
Today, Xi is China’s president. He leads 1.4 billion people. And he’ll likely be the most powerful person in the world soon.
As I mentioned last Wednesday, Trump’s new steel and aluminum tariffs are part of a larger, escalating battle between the US and China.
China is rapidly displacing the US as the dominant global power. This shift is inevitable. China’s economy will be twice as large as the US economy by 2030.
This leaves the US with limited options…
  1. It could kick back and let China displace it as the most powerful country in the world.
  2. It could start a military war with China.
  3. And it could push the current trade battle into an all-out economic war against China.
I think a full-blown economic war is the most likely. Under President Trump, it’s all but certain.
That said, the Trump administration seems to underestimate China’s position—in both the short and long term.
 
captain morgan
#2
Quite the opposite DB.

China is attempting to rope gold, oil and their currency into a trading platform.

This will act to enshrine oil as a commodity backing their currency.

The next step is for the Yuan to compete with USDs

We'll see how it works
 
EagleSmack
#3
How many days?
 
captain morgan
#4
That is a 2-pronged question.

  1. When does the program start?
  2. Will they have any success competing with the USD

unlikely it will succeed
 
mentalfloss
+1
#5  Top Rated Post
In this thread, oil grunts get scared.
 
Murphy
#6
Doubtful, but keep trying. You should text Waldo and head over to the mall.
 
captain morgan
#7
Are they allowed back in the mall these days?
 
Walter
#8
What a stoopid thread.
 
captain morgan
#9
Quote: Originally Posted by darkbeaver View Post

China Is Days Away From Killing the Petrodollar

by Nick Giambruno, Senior Editor


Not long ago, there was a popular joke in China that went something like, “Who is Xi Jinping?”
The answer was, “The husband of Peng Liyuan,” the famous singer Xi is married to.

It wasn't really that popular of a joke