It's Over! - China Selling Oil in Yuan?

Thats what i call ' END OF PETRODOLLAR' and Nomore 'MONOPOLY'.I wonder How US will Handle this Threat , By going to War ?

Whatever, the US should get out of the oil game anyway, and move into the sustainable arena.

Originally posted by antonia
reply to post by MegaMind

 

No one. I mean NO one thought oil would drop that far that fast.

Really? Plenty of people said it. I read if frequently in the Financial Times. Plenty of people are saying it now.
www.ft.com...

No No No. That article is from 2012. NOT when oil went to $150 and then down to $45 all in about 9 months. Which LW got right. I'm not saying everything he says is believable or true but the man NAILED those events BEFORE they occurred AND NO ONE else got it like he did. I know because I was PAYING ATTENTION. Again find someone with an article dated before those events stating those events would take place. It shouldn't be hard for you because you said "every other analyst" was saying the same thing.

Now the dollar's days are numbered - RESERVE CURRENCY NO MORE!! And many are saying that not just LW - the dollar's days of domination are over.

Hell Central bankers in Europe and Leaders from around the world are all calling for the end of the dollars reserve status - its straight from the horse's mouth.

en.wikipedia.org...

The move by other nations to dispose of using the dollar in trade is the beginning of the end for the dollar's reserve status. Exporting the dollar is all the US has got. A debtor nation with a "service" economy won't survive without that special privilege it has had for nearly 4 decades now. The US economy is toast ... Literally destroyed from the inside out ...

Yes, its will be, but not now.
Will take sometime to toast, for now, its still OK.
However its started to boil already

When you see first bubble, its still ok, this news is NOT the first bubble.
First sign of dollar boiling was last year I think.

Whatever, the US should get out of the oil game anyway, and move into the sustainable arena.

No offense, you need to read more about dollar before want to make that statement.

You guys are living in a dream world, right between la la land, and wishful thinking land. Hating the US so much, that you get dispatched from reality, isn't really good for your health.

China is already beginning to get problems, there are layoffs, decline in growth, etc. China doing it's trade in Yuan, instead of US dollars is also a responce to the US demand, that they "remove their US anchor".

Originally posted by MegaMind

reply to post by MegaMind

 

It shouldn't be hard for you because you said "every other analyst" was saying the same thing.

money.cnn.com...

There you go. You will move the goalposts again though because you want to believe this guy. By all means do, I hope you buy his crap too (for his sake anyway).


As for China, the idea they are just going to move off the dollar is silly considering part of their strategy has been to keep the Yuan intentionally weak. They cannot do that if everyone is buying oil in the yuan. The Euro I can see, but not the yuan.

reply to post by antonia


Your link was yet another fail!

Here is what happened ...



Notice that by July 08 prices hit almost $150 and by December prices were $40.

On July 28, 2008 LW said oil would then drop to $50 a barrel in the next 6-12 months (it happened in 6 months) ... @5:50 mark



more videos etc found here

Google the prediction for yourself .... 2008 Lindsey williams predicts $50 oil

He also said earlier in 2008 that it would go to $150 in the summer ... I know because I heard him say it.

Trying to find a video for evidence ...

So basically Williams was able to "predict" what oil would do 6 months out for that year 2008. Many of his other "predictions" have not panned out. For example his "predictions" for oil in 2011. But I give the man credit where credit is due. HE NAILED IT IN 2008!! No one else I heard knew that oil would spike and fall the way it did in 2008.

Your articles that you linked to are not definite at all on time lines (a few years hence ... $50/barrel) and did not match Williams' predictions.

So far you still fail in your attempt to marginalize what Williams did ...

I haven't given Williams any money - in fact he drives me crazy trying to listen to him with all his "I beg of you" "write this down" and never getting to the point ...

Still I cannot lie in 2008 he pegged the oil prices perfectly and better than anyone I heard at the time. You could have made a killing with that info if you had the money and trusted him at the time. Problem is I didn't have the money and i didn't trust him ...

reply to post by MegaMind

So far you still fail in your attempt to marginalize what Williams did ...

Nothing I say will convince you and I know that. You want to believe Williams, well you go for it. I know what happened and you don't have to tell me. I was alive then and subscribed to the Financial Times, which is why I heard way before Williams opened his mouth. Unless you are a paid subscriber you can't read the archives, sorry. It was called the "Oil Bubble". As for the time it took the price to go down, that isn't unheard of. When a commodity shoots up quickly it also falls quickly. Other commodity markets faced the same thing in 2008.

Many of his other "predictions" have not panned out.

Oh, so it looks like the busted clock is right twice a day? You acknowledge many of his predications haven't panned out yet you cling to him still? There's nothing rational about that. But rational thought isn't what drives this arguement.

He also said earlier in 2008 that it would go to $150 in the summer ... I know because I heard him say it.

I did too, I also heard Peter Schiff say it.

On July 28, 2008 LW said oil would then drop to $50 a barrel by December ... @5:50 mark

money.cnn.com...
And oil was already falling when he opened his mouth. 50 dollars was the floor price before oil shot up in it's bull market that year. It was pretty easy to peg the price as oil always falls back to it's floor price when the bull market eventually gives out. But hey, you want to believe hucksters and con men, well you go for it. His elitist friend has been wrong a lot more than he's been right. Unless of course McCain is president and I'm jut living in a parallel universe.

Here is another guy who nails it (on the economy) ... 2006!

reply to post by antonia


Great evidence to back your claim that every other analyst at the time saw the price going to $50 a barrel in the next 6 months!

Look I'm not into LW (no clinging here) and he's has been wrong so don't get all weepy eyed that I might just be so stupid to believe everything he says.

Get over it! He was right about the 2008 oil price drop when no one else thought it would ...

BTW what are the cheerleaders over at the FT saying about the dollar and the world economy right now? hmmm?

reply to post by MegaMind

Get over it! He was right about the 2008 oil price drop when no one else thought it would ...

I didn't say he was wrong, I said plenty of other people were saying the same thing. In fact, the man you just posted said something similar before Williams, so did other guests on Jone's show such as....Bob Chapman. So on this point you are wrong.

BTW what are the cheerleaders over at the FT saying about the dollar and the world economy right now? hmmm?

Buy a copy and find other for yourself.

China and Japan are now trading with each other in their own currencies and not US Dollars....everyone said that would never happen and just last month....she happened.

Japan's mad at us and jumped ship to keep their city lights on. You all laughed at me less than a year ago when I said it was going to happen. Saying they would never work together and had too much hatred for each other.

They did what they had to do to survive...band together.

When the British pushed the world into WWI it was to try and preserve the British Trade system which was under attack by new railways and emerging economies like those in Germany and Russia. The conditions are the same now for us! The petro dollar is indeed under attack as is the American way of life! I think we will see the world at war very soon! What really troubles me is the fact that there can be no victory against Russia and China!

Seems like end game to me! Blame yourselves, the unrestricted import of cheap crap is what weakened the US! Russia is sitting on the largest oil reserves in the world and so when the commies moved out it a natural progression for those with power to seize the wealth! This alone will see Russia outshine the US! The petro dollar is dead the minute Russia says to trade in another currency!

Bob Chapman and Peter Schiff are awesome ... and hardly every other analyst ...

The mainstream/ lamestream love to cheerlead this economy and tell us we are in a recovery and everything is going to be OK. People like those mentioned already have a different story to tell and it turns out its one much closer to the truth.

Originally posted by antonia
Buy a copy and find other for yourself.

No thanks ...

LW is a stooge. His "connections" were from some time ago, now he is being fed all manner of disinformation and half truths.

As for the petro dollar. Lindsey might have spent more time researching and less time preaching. The PD was replaced more or less by the Special Drawing Rights in the IMF. In the basket of assets required to borrow money from the IMF - the Fed collective, is............. the dollar. That's right, in order to borrow money from the IMF you have to have a boat load of US Dollars in your bank. This was put in place to prevent the PD collapse issue from having a major effect on the fiat currency world until the collection of all the world's assets are complete.

Further, as long as SA and a few other ME states buy in dollars AND do not spend those dollars, the rate of inflation is curbed - the cost of oil is the main mechanism for staving off inflation, the inflation caused by printing money used to buy guns to kill the same people who vowed not to spend the dollars they get for oil. The oil bourse itself is used to manipulate the currency to keep collapse in check until all the world assets are owned by the IMF banks.

Iran is the last major holdout, electing to not join the IMF fiat currency compound interest scheme by pledging their physical assets yet - including human bodies, to the IMF in exchange for the right to not be killed and freedom to borrow money at interest. This is Iran's crime against humanity, one they will probably pay a price for.

Lindsey, while well meaning, is a dupe. He's old, he's a preacher who's, in many ways, an entertainer and he doesn't really know what he's talking about anymore.

I said $150 too, if theres a war and charts dont lie. Other than that, yuan is still years before becoming the main currency. I think we will see XDR if USD fail and of course, NWO

Off topic:
Guess how much the guy is holding. Is there dollar in that denomination ? I havent seen that much.

Originally posted by MegaMind.

The mainstream/ lamestream love to cheerlead this economy and tell us we are in a recovery and everything is going to be OK.

Well sure, if all you do it watch CNN or american channels. That's why you never heard about that prediction before LW or AJ. Asia Times reported on the oil bull market long before AJ did. If you can't be bothered to read something non-american then you are going to be in the dark. FT is not a lamestream publication and the very fact you haven't read it tells me you probably didn't know much about the market at all before you heard LW's pony show.

reply to post by mobiusmale


These are some valid points. Until, that is, you take into account the amount of gold China has been buying lately. Some sources say they'll have more than us in 3-5 years - if what we have stored is even accurate, considering they audit themselves.

In the case of a rapidly declining dollar (since most currencies in the world are, in some way, tied to or backed by the dollar), gold would be the only 'relatively' safe haven.

reply to post by antonia


FT's articles are linked to from drudge from time to time. I watch RT. I am not a financial news hound.

I never watch Fox, CNN or MSNBC anymore - haven't for the past 5 years ...

Enough! I'm tired of reading your condescending post ...

reply to post by Donkey_Dean

The petro dollar is dead the minute Russia says to trade in another currency!

According to the article Russia has already promised China all the oil they want to sell...