China's New Gold-Backed Oil Futures Contract Cuts Out U.S. Dollar
- Thread starter Boston.Knight
- Start date
It's specifically designed to help Iran and, ultimately (with other resources), North Korea avoid sanctions.
It will also hurt the US dollar long-term. At the same time, it will push not only Canada, but the US, to further guarantee Fracking investments for the long-term.
Make no mistake, the green energy investments are happening. US$2/gallon is the cheapest we'll ever see again, and $3+ is likely in the coming years. So Fracking will continue as it is profitable, and we have a nice side effect of natural gas here in the Americas, especially since green energy will only be 40% of global production by 2040, and more like 30% in the Americas (between Canadian-American fracking, and Brazilian et al. sugar economies).
But that's still expensive enough that every petroleum company is investing in green energies. And we'll be heavily green in the 2nd half of the 21st century.
It will also hurt the US dollar long-term. At the same time, it will push not only Canada, but the US, to further guarantee Fracking investments for the long-term.
Make no mistake, the green energy investments are happening. US$2/gallon is the cheapest we'll ever see again, and $3+ is likely in the coming years. So Fracking will continue as it is profitable, and we have a nice side effect of natural gas here in the Americas, especially since green energy will only be 40% of global production by 2040, and more like 30% in the Americas (between Canadian-American fracking, and Brazilian et al. sugar economies).
But that's still expensive enough that every petroleum company is investing in green energies. And we'll be heavily green in the 2nd half of the 21st century.
The dollar is cratering. Trump wants to eliminate the debt ceiling. Nancy Pelosi and Chuck Schumer agree. 
http://www.zerohedge.com/news/2017-09-07/trump-reportedly-wants-end-debt-ceiling
http://www.zerohedge.com/news/2017-09-07/trump-reportedly-wants-end-debt-ceiling
Trump and the libs want to go nuts printing money. The debt ceiling is a farce. There is no debt ceiling, let's be honest. It's always going to go up, from here to eternity.
We're addicted to money printing and debt. We've created a tale of two cities: those with inflatable assets like stocks and houses, and those without - who can barely afford to make rent every month.
We're addicted to money printing and debt. We've created a tale of two cities: those with inflatable assets like stocks and houses, and those without - who can barely afford to make rent every month.
Yes, it scares me to death.The dollar is cratering. Trump wants to eliminate the debt ceiling. Nancy Pelosi and Chuck Schumer agree.
http://www.zerohedge.com/news/2017-09-07/trump-reportedly-wants-end-debt-ceiling
At the same time, there are some arguments that there's a better approach. I just don't want the current approach removed, I want it replaced, and I want to see that replacement first.
We'll see.
From what I read, Trump wants to replace it, not remove it.
I think the Democrats are in for a surprise, because the current system allows them to demonize the Republicans. We'll see how much they fight Trump for the replacement.
If they don't, then it means we're f'd.
I always believed China had a gold backed monetary strategy it was going to unleash on the world at the right time. The oil contract is just the tip of the iceberg. The Yuan will be the reserve currency before you and I kick off.
My fear is this tale of two cities. I've been to countries where the upper class lives behind iron fences with security guards. If the net worth gap between the classes continues to divide, what ends up happening is that the low class gets pushed out first, followed by the middle class. We're seeing that now across the U.S. re: housing and rental prices.
My fear is this tale of two cities. I've been to countries where the upper class lives behind iron fences with security guards. If the net worth gap between the classes continues to divide, what ends up happening is that the low class gets pushed out first, followed by the middle class. We're seeing that now across the U.S. re: housing and rental prices.
Yep.I always believed China had a gold backed monetary strategy it was going to unleash on the world at the right time. The oil contract is just the tip of the iceberg. The Yuan will be the reserve currency before you and I kick off.
My fear is this tale of two cities. I've been to countries where the upper class lives behind iron fences with security guards. If the net worth gap between the classes continues to divide, what ends up happening is that the low class gets pushed out first, followed by the middle class. We're seeing that now across the U.S. re: housing and rental prices.
This is why I'm not only looking for a small homestead of 3 acres with a small house here in Alabama, but I'm planning on buying 10-20 acres more somewhere, and plopping down a couple of containers on it ... allegedly for storage. But also, would make a great 'prepper' option too.
What's happening now is that the government is able to appease the lower classes with handouts and free stuff. My inlaws are eligible for medicaid, and they get better health care than I do. What happens if all these entitlements go away?
That's what I've been saying for a long time.
Heck, one of the reasons I hated Obamacare is that it didn't have provisions like Romneycare. Based on salary, companies could be penalized for not offering adequate 'buy up' and 'high-end PPO' plans in Romneycare. I know because my employer, at the time, had their engineering center, their 2nd largest office, in MA. Obamacare minimums, unlike Romneycare minimums, lets employers give people making high 5 figures the same plans as crappy lower 5 figures.
I know, I personally went out and got my own group insurance from outside my employer in 2015, refusing my employer's, and then opted for Corba over another employer's in 2016. And for that, the US gov't penalized me with taxes on my premiums, as both employers qualified for "ACA minimums." Talk about being penalized for being responsible, paying 3x as much for 10x better coverage, and then having to pay another 1x for the taxes.
I mean, why bother if the government sets the bar so low?
As I always say to every Progressive ... "Socialized medicine would be cheaper and cover more people than the ACA ... but isn't that the strategy?"
Yes. But to automatically raise it going forward is basically the latter. That's what people are worried about.
Maybe China will release a gold backed monetary strategy. Unless they solved the issues that occurred in the early 20th century, history will repeat itself. In economic downturns, fiat based systems lower the interest rate and release more money to stabilize the supply. In a gold backed system, you can't do that - you end up with money shortages and deflation. We've seen how that story ends before.I always believed China had a gold backed monetary strategy it was going to unleash on the world at the right time. The oil contract is just the tip of the iceberg. The Yuan will be the reserve currency before you and I kick off.
My fear is this tale of two cities. I've been to countries where the upper class lives behind iron fences with security guards. If the net worth gap between the classes continues to divide, what ends up happening is that the low class gets pushed out first, followed by the middle class. We're seeing that now across the U.S. re: housing and rental prices.
![[roll]](http://l.yimg.com/j/assets/img/emoticons/classic/roll.r191677.gif "roll [roll]")
. Let me know how that works out for you.
