Petrodollar end looming as China & allies dump it in oil trading - Jim Rogers

[VCheng]

Ignorance is a bliss, wish i can get it too
IF petro dollar didnt matter why did US made a deal with Saudis to only trade in Dollars, they could have asked them to trade in British pounds. USD became reserve currency because every country needs to buy fuel not because it looks pretty

ps: I think you have no clue what people are referring petro dollars to

The Saudis wanted US protection back when the deal was made. They offered to sell their oil in USD because that was just about the only thing they could offer in return. Note that all other producers are not bound by this agreement. Anybody wishing to buy oil in other currencies is free to do so.

In reality there is no such thing as the petrodollar. This is a term used only by those who wish to claim that the USD would be worthless if oil is not sold by it, to negate the enormous economic strength of 50 united states behind it, and the fact that most producers are under no compulsion to denominate their oil in dollars, but a choice.

 

[Hamartia Antidote]

Time to convert dollars into bitcoins.

Not a good long term solution since quantum computers will soon be cracking the 10 minute window of their transaction codes.

 

[Solomon2]

I hate Americans to the core, not to mention. A savage leadership that justifies her wars/destructions to keep it's economy alive...

What a sick mind you have!

BTW, and on-topic, i know little about China's plans but i am sure that neither them nor us, cannot continue with dollar's dominance. Sanctions are always available to threaten our countries.

Ah, that's your core issue: America's control of the dominant reserve currency limits the mullahs' ability to export terror abroad. Should we weep about that?

 

[Muhammed45]

What a sick mind you have!
Ah, that's your core issue: America's control of the dominant reserve currency limits the mullahs' ability to export terror abroad. Should we weep about that?

USA's terror regime's crimes across the middle east is a well known fact. Your president! confessed :

Are you going to say that you don't take your own president seriously and American president is an absolute moron?

 

[Solomon2]

...Your president! confessed...Are you going to say that you don't take your own president seriously and American president is an absolute moron?

I don't have to:

...Trump is only a lackey of Imperialists, if you listened to him when he was talking at UN, you would have felt that someone has put his mad lap dog at the UN summit and closed it's sling to the podium and ordered it to snapping the audience!. That's what i see from Trump -

You couldn't do any better than a video from someone you consider a "lackey" and "mad lap dog". So your task is now to convince us readers that you believe in what you wrote today and not in what you wrote a month ago - and why you have the credibility for us to believe in your judgment in the future.

 

[Muhammed45]

"lackey" and "mad lap dog"

No i didn't say that. You are talking about something that needs assessments. US presidents are mostly lackeys of Zions and AIPAC. Trump is real face of USA and Imperialism.

I don't have to:



You couldn't do any better than a video from someone you consider a "lackey" and "mad lap dog". So your task is now to convince us readers that you believe in what you wrote today and not in what you wrote a month ago - and why you have the credibility for us to believe in your judgment in the future.

Leave my own credibility. I am not a hired agent like others that follow an specific agenda

BTW, You didn't say that Trump as president of US is credible or not!!!?

 

[TruthTheOnlyDefense]

This man thinks pretty low about India his wife was sexually assaulted in India when they went there a while ago.

 

[Hack-Hook]

Well changing to yuan in trades is good step but there is a big but.
Do we want to change petro-dollar to petro-yuan ? Won't it be repeating a mistake?

I think if you want to trade with China yuan is good but why use yuan for trading with eu or USA all these national currency have no value of themselves the real deal is gold. Not yuan or dollar or eu or bitcoin or.....


This move is only positive if limited only to China and for other countries they use other measure or use simply good old fashioned gold as base .

 

[The Accountant]

we have been hearing the words "dollar is collapsing" for about 2 decades now and nothing happens.

What ? dollar has already collapsed twice but somehow they are managing through waging wars in middle east ...

US in historically high debt ratio most of which is owned to the enemy nation China ...

US dollar was about to collapse in 2000 share market crisis when the bailout the whole IT industry and then in 2008 ...

All the president in last 1 and a half decade are chosen based on economic reforms and litterally the standard of living of US is declining ...

Although it took 7 decades by Dollar to become sole currency of the world trade so it will not die in a day ...