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Originally posted by LastStarfighter
As long as the dollar is used to trade oil, USA will stay number one. Indeed this is the driving force behind the worldwide US military action.
China and the east are in a constant bid to trade oil in their own currency and thats why the USA invaded Iraq, and supported the arab spring.
Originally posted by EA006
reply to post by Wrabbit2000
If the Petro-Dollar is based on nothing more than a promise then basically the entire worlds money is the same. If China does go back to the gold standard then it puts them in a very strong position, if you couple that with the speculation that the NWO have moved their (our) gold to the far-east then it paints a disturbing picture for the future of the U.S. China may not surpass the U.S this century but unless WW3 does break out then China will be top dog.
Originally posted by lunarcartographer
Energy - The lack of any significant oil and natural gas in China vs the fact that the US will become oil independent based on the massive shale oil and natural gas reserves, and will be an important factor in the direction of future economies of both US and China.
------- International Security Observer ------------------
"Shale Oil Revolution in America. How does it affect the world?
The World Energy Outlook’s forecast in October 2012 that the United States of America will overtake the Kingdom of Saudi Arabia in oil production has initiated a new debate within the oil industry – Will this lead to a fundamental change in global oil markets? Will the importance of the Middle East decline? Will the US-Middle East relationship weaken because of this development?
The industry’s concern is not unfounded. This forecast challenges some of the basic tenets of the global oil industry. For decades, Saudi Arabia has been the largest source of oil in the world, closely followed by Russia. With one fifth of the world’s proven oil reserves[ii] and considerable power wielded within the OPEC (Organization of Petroleum Exporting Countries) the Kingdom has held and continues to hold immense sway on how oil moves around the world. The US, consuming approximately 25 per cent of the world’s oil is the largest consumer and importer of oil, despite a decline in consumption in the past year (due to low domestic demand).[iii] In recent years, China’s imports have increased making it the second largest importer of crude oil in the world but the US is still the largest consumer of energy, by a significant margin.[iv]
Nevertheless, the development and exploitation of shale oil reserves in the US seem to challenge these “traditional norms”. In 2011, the US exported more gasoline, diesel and other petroleum products than it imported – for the first time since 1949[v]. Crude oil imports reduced to their lowest since 1999 because of reduced domestic demand and growth in domestic production from shale oil reserves.
Link to article:
securityobserver.org...
Originally posted by EA006
reply to post by LastStarfighter
They may have to convert it to dollars but it's still based on a promise.
Originally posted by EA006
reply to post by Arnie123
China will take what it needs.
(RT.com)-The Republican-controlled United States House of Representatives approved a bill on Thursday that would require the government to begin paying back foreign nations before spending funds on domestic items.
Because the government would have to settle up its debt with bond holders first, foreign nations — particularly China — would be the first to receive payment in theory. Opponents of the bill has thus labeled HR 807 the “Pay China First Act,” a moniker that House Speaker John Boehner (R-Ohio) didn’t disagree with in an interview just days before it was passed.
Originally posted by UMayBRite!
China doesn't have a culture of honesty and will self destruct eventually from corruption. The people
will be relatively docile as long as there is growth. When they are poisoned and abused
sufficiently they will have a civil war. Then we will have shortages of everything!
Chinese people are becoming increasingly alarmed
from the quality of their food, for example. There is a huge business of shipping American
baby food from the USA because brand alone isn't sufficient proof of safety.