Um, Walter, Easter is a religious holiday, possibly just confined to Christianity. I, personally don't get too excited about Easter. It's mainly for the kids anyway.
US Stock Market Officially Crashes
- Thread starter mentalfloss
- Start date
Um, Walter, Easter is a religious holiday, possibly just confined to Christianity. I, personally don't get too excited about Easter. It's mainly for the kids anyway.
I never could see the excitement envisioning a poor guy nailed to a cross all day!
China decided to 'sweeten the pot' so to say by announcing on March 24
that foreigners who participate in their new oil futures market will also have their
income taxes exempted.
Beijing will waive income tax for overseas investors trading yuan-denominated crude
oil futures contracts, the Finance Ministry announced on Tuesday. The measure, to
cover both institutional and individual investors is aimed at attracting foreign capital.
Foreign brokers will also be exempted from paying income tax on commissions they
earn from dealing in the new futures contracts to be launched at Shanghai’s International
Energy Exchange on March 26, the Xinhua news agency reported.
This move appears not only intended to entice oil producing nations to sell their output to
China rather than London or the U.S., but to also bring in foreign capital in competition to
America's tax reform policies meant to do the same thing.
As China's Yuan oil contract goes online in advance of Monday's trading, Beijing adds a sweetner by removing income tax from foreigners who participate ~ The Daily Economist
This is an informative article ...
China Is Days Away From Killing the Petrodollar
By Nick Giambruno
March 20, 2018
China Is Days Away From Killing the Petrodollar | International Man
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.
----
Every country needs oil. And, for a short while longer, they need US dollars to buy it. That’s a very compelling reason to hold large dollar reserves.
This is the essence of the petrodollar system, which has underpinned the US dollar’s role as the world’s reserve currency since the early 1970s.
Right now, if Italy wants to buy oil from Kuwait, it has to purchase US dollars on the foreign exchange market to pay for the oil first.
----
In part, this is what separates the US dollar from a purely local currency, like the Mexican peso.
The dollar is just a middleman. But it’s used in countless transactions amounting to trillions of dollars that have nothing to do with US products or services.
Since the oil market is so enormous, it acts as a benchmark for international trade. If foreign countries are already using dollars for oil, it’s just easier to use dollars for other international trade, too.
In addition to nearly all oil sales, the US dollar is used for about 80% of all international transactions.
This gives the US unmatched geopolitical leverage. The US can sanction or exclude virtually any country from the US dollar-based financial system at the flip of a switch. By extension, it can also cut off any country from the vast majority of international trade.
----
China knows most oil producers don’t want a large reserve of yuan. So producers will be able to efficiently convert it into physical gold through gold exchanges in Shanghai and Hong Kong.
As of March 26, countries around the world will have a genuine, viable way to opt out of the petrodollar system.
US demands China reconsider ‘catastrophic’ ban on importing foreign garbage & recyclables
March 25, 2018
China is by far the biggest importer of US recyclables. Banning US junk imports will have a catastrophic impact on the US labor market and will drive up waste management costs. According to the US Institute of Scrap Recycling Industries (ISRI), in 2016 alone American scrap exports to China totaled $5.6 billion and provided the industry with 155,000 jobs.
“In any given year, approximately one-third of the scrap recycled in the United States is prepared for shipment to the export market, and China is the recycling industry's largest customer,” ISRI President Robin Wiener told China Daily earlier. “This includes more than $1.9 billion in scrap paper and $495 million in scrap plastics. A ban on imports of scrap commodities into China would be catastrophic to the recycling industry.”
http://english.mep.gov.cn/News_service/media_news/201707/t20170728_418690.shtml
that foreigners who participate in their new oil futures market will also have their
income taxes exempted.
Beijing will waive income tax for overseas investors trading yuan-denominated crude
oil futures contracts, the Finance Ministry announced on Tuesday. The measure, to
cover both institutional and individual investors is aimed at attracting foreign capital.
Foreign brokers will also be exempted from paying income tax on commissions they
earn from dealing in the new futures contracts to be launched at Shanghai’s International
Energy Exchange on March 26, the Xinhua news agency reported.
This move appears not only intended to entice oil producing nations to sell their output to
China rather than London or the U.S., but to also bring in foreign capital in competition to
America's tax reform policies meant to do the same thing.
As China's Yuan oil contract goes online in advance of Monday's trading, Beijing adds a sweetner by removing income tax from foreigners who participate ~ The Daily Economist
This is an informative article ...
China Is Days Away From Killing the Petrodollar
By Nick Giambruno
March 20, 2018
China Is Days Away From Killing the Petrodollar | International Man
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.
----
Every country needs oil. And, for a short while longer, they need US dollars to buy it. That’s a very compelling reason to hold large dollar reserves.
This is the essence of the petrodollar system, which has underpinned the US dollar’s role as the world’s reserve currency since the early 1970s.
Right now, if Italy wants to buy oil from Kuwait, it has to purchase US dollars on the foreign exchange market to pay for the oil first.
----
In part, this is what separates the US dollar from a purely local currency, like the Mexican peso.
The dollar is just a middleman. But it’s used in countless transactions amounting to trillions of dollars that have nothing to do with US products or services.
Since the oil market is so enormous, it acts as a benchmark for international trade. If foreign countries are already using dollars for oil, it’s just easier to use dollars for other international trade, too.
In addition to nearly all oil sales, the US dollar is used for about 80% of all international transactions.
This gives the US unmatched geopolitical leverage. The US can sanction or exclude virtually any country from the US dollar-based financial system at the flip of a switch. By extension, it can also cut off any country from the vast majority of international trade.
----
China knows most oil producers don’t want a large reserve of yuan. So producers will be able to efficiently convert it into physical gold through gold exchanges in Shanghai and Hong Kong.
As of March 26, countries around the world will have a genuine, viable way to opt out of the petrodollar system.
US demands China reconsider ‘catastrophic’ ban on importing foreign garbage & recyclables
March 25, 2018
China is by far the biggest importer of US recyclables. Banning US junk imports will have a catastrophic impact on the US labor market and will drive up waste management costs. According to the US Institute of Scrap Recycling Industries (ISRI), in 2016 alone American scrap exports to China totaled $5.6 billion and provided the industry with 155,000 jobs.
“In any given year, approximately one-third of the scrap recycled in the United States is prepared for shipment to the export market, and China is the recycling industry's largest customer,” ISRI President Robin Wiener told China Daily earlier. “This includes more than $1.9 billion in scrap paper and $495 million in scrap plastics. A ban on imports of scrap commodities into China would be catastrophic to the recycling industry.”
http://english.mep.gov.cn/News_service/media_news/201707/t20170728_418690.shtml
Well, the Chinese oil exchange opened as planned .....
The markets should be quite interesting during the next 7 to 10 days as confidence in the new Chinese exchange builds.
PetroYuan Futures Open - Over 10 BillIon Notional Trades In First Hour
By Tyler Durden
March 25, 2018
https://www.zerohedge.com/news/2018...en-over-10-billion-notional-trades-first-hour
After all the preparation, all the expectation, cheerleading and doomsaying, China's Yuan-denominated crude oil futures contract began trading tonight and appears to be off a good start with well over 10 billion yuan notional traded within the first hour.
So far it has tracked WTI futures well, trading at around a $2 premium to WTI (when translated from yuan to USD)...
Additionally, well over 23,000 contracts have traded within the first hour for a notional trading volume of over 10 billion yuan - more than $1.5 billion notional... signaling significant demand.
The markets should be quite interesting during the next 7 to 10 days as confidence in the new Chinese exchange builds.
PetroYuan Futures Open - Over 10 BillIon Notional Trades In First Hour
By Tyler Durden
March 25, 2018
https://www.zerohedge.com/news/2018...en-over-10-billion-notional-trades-first-hour
After all the preparation, all the expectation, cheerleading and doomsaying, China's Yuan-denominated crude oil futures contract began trading tonight and appears to be off a good start with well over 10 billion yuan notional traded within the first hour.
So far it has tracked WTI futures well, trading at around a $2 premium to WTI (when translated from yuan to USD)...
Additionally, well over 23,000 contracts have traded within the first hour for a notional trading volume of over 10 billion yuan - more than $1.5 billion notional... signaling significant demand.
The us will be the top exporter of oil in the next year or two
it's the seller that decides what things will sell for.
No, so called "clearer vision" is NOT the answer.
JESUS CHRIST = RICH JESTS US.
it's the seller that decides what things will sell for.
No, so called "clearer vision" is NOT the answer.
JESUS CHRIST = RICH JESTS US.
Stormy Daniels is but a sideshow in the minds of investors in the stock market.
The major stock market indexes have given up all the gains posted since November as the Trump policies that have boosted stocks - lower taxes, lax regulation and a crippled labor movement - have been stepped on by Trump the policy-maker, who is starting a trade war with China, persisting in a fiscal feud with his own party, and promoting advisers who are advocates for real wars in the Middle East and on the Korean peninsula.
The Dow Jones Industrial Average fell more than 400 points on Friday, a day after slumping by more than 700 points after President Trump moved to slap tariffs on up to $60 billion worth of China-made goods and China reciprocated by saying it would target imports from the United States. Stocks had their worst week since January 2016, and the Dow is on pace to post its worst month since August 2015.
https://www.thestreet.com/story/145...ies-stepped-on-by-trump-the-policy-maker.html
The major stock market indexes have given up all the gains posted since November as the Trump policies that have boosted stocks - lower taxes, lax regulation and a crippled labor movement - have been stepped on by Trump the policy-maker, who is starting a trade war with China, persisting in a fiscal feud with his own party, and promoting advisers who are advocates for real wars in the Middle East and on the Korean peninsula.
The Dow Jones Industrial Average fell more than 400 points on Friday, a day after slumping by more than 700 points after President Trump moved to slap tariffs on up to $60 billion worth of China-made goods and China reciprocated by saying it would target imports from the United States. Stocks had their worst week since January 2016, and the Dow is on pace to post its worst month since August 2015.
https://www.thestreet.com/story/145...ies-stepped-on-by-trump-the-policy-maker.html
You'd never know it this morning as D.J. bounces back with a vengeance! Good call, Walter! :lol:
Okay .... We are about an hour into the trading day and I am not too impressed with a gain of 350 points on the Dow.
The headlines coming out of the gate this morning was more anti-Russia stuff which is great for the markets.
However; I feel very strongly that the Dow will drop at least another 1000 points before the end of the week. America may even need to increase the Fed Rate again within the next 15 days. The longer the Fed takes to raise the rates again, the larger the increase will be.
The headlines coming out of the gate this morning was more anti-Russia stuff which is great for the markets.
However; I feel very strongly that the Dow will drop at least another 1000 points before the end of the week. America may even need to increase the Fed Rate again within the next 15 days. The longer the Fed takes to raise the rates again, the larger the increase will be.
Hi! Pgs
Oh! I am not worried at all about the markets in an economic sense. I could care less because I have nothing invested there.
I am overly concerned with the rapid decline of the U.S. Capitalist System because with each major loss on the markets brings us closer to warfare.
The U.S. is just not gonna sit back and watch it as a spectator ..... It is going to strike out and strike hard militarily against any threat of it's world hegemony. (Just as England did against Germany in 1918.)
When Donnie Trump talks about "Make America Great Again" .... He means Make the American Empire Great Again.
I believe that we are closer to warfare now than at any time during my life and certainly a more dangerous time than the Cuban Missisle Crisis.
Oh! I am not worried at all about the markets in an economic sense. I could care less because I have nothing invested there.
I am overly concerned with the rapid decline of the U.S. Capitalist System because with each major loss on the markets brings us closer to warfare.
The U.S. is just not gonna sit back and watch it as a spectator ..... It is going to strike out and strike hard militarily against any threat of it's world hegemony. (Just as England did against Germany in 1918.)
When Donnie Trump talks about "Make America Great Again" .... He means Make the American Empire Great Again.
I believe that we are closer to warfare now than at any time during my life and certainly a more dangerous time than the Cuban Missisle Crisis.
You don't have a pension? No Provincial, CPP, Union, employer funded or otherwise?
Pensions own 85% of the market.
Don’t be worried it is mostly monies held on paper by the 1% . Who cares .
I meant to add , join in . It is not the 1% who are the winners , it is the smart people . If a smart person is creative enough he becomes a 1%er .
Well, obviously I know full well that pension plans and whatever have market investments.
I was replying to a comment suggesting that I should short the market .... and I wanted to state that my views had nothing to do with playing the markets. I read the markets as an indicator of/for geopolitical consequences.
I was replying to a comment suggesting that I should short the market .... and I wanted to state that my views had nothing to do with playing the markets. I read the markets as an indicator of/for geopolitical consequences.
Yes I totally get that , however you appear to be a relatively intelligent person , why not use that intelligence to prosper ? Remember the logical Mr. Spock, live long and prosper .