The End of Dollar Hegemony? Thinkers forum · Zhang Weiwei & Aleksandr Dugin & Ejaz Akram

[Luosifen]

From 2 months ago, an interesting academic discussion between Zhang Weiwei (Director of China Institute of Fudan University), Aleksandr Dugin (the one that lost his daughter in the car bombing) and Ejaz Akram (advisor to Imran Khan) about what they think the future of the global financial system will look like:

 

[Viet]

From 2 months ago, an interesting academic discussion between Zhang Weiwei (Director of China Institute of Fudan University), Aleksandr Dugin (the one that lost his daughter in the car bombing) and Ejaz Akram (advisor to Imran Khan) about what they think the future of the global financial system will look like:

A propaganda liar of Russia and an unknown thinker of China dreaming of the end dollar.

The world is better off if they spend effort on how ending global warming.

 

[Indos]

A propaganda liar of Russia and an unknown thinker of China dreaming of the end dollar.

The world is better off if they spend effort on how ending global warming.

Russia oil and gas supply will float the developing world and the payment is Rubel, not USD anymore, the shift has already been accelerated after Western nations sanction Russian energy sector with their USD payment system.

Rupiah to Ruble - IDR to RUB exchange rate

Convert Indonesian Rupiahs to Russian Rubles with a conversion calculator, or Rupiahs to Rubles conversion tables

fx-rate.net

 

[Viet]

Russia oil and gas supply will float the developing world and the payment is Rubel, not USD anymore, the shift has already been accelerated after Western nations sanction Russian energy sector with their USD payment system.

Rupiah to Ruble - IDR to RUB exchange rate

Convert Indonesian Rupiahs to Russian Rubles with a conversion calculator, or Rupiahs to Rubles conversion tables

fx-rate.net

That’s unrealistic. to have an economic impact the country must have economic size. Russia economy is less than Italy in few years will be about Spain, then Netherlands. It’s like claiming the Dutch would require all payments in local currency for their products. Oil, gas, minerals are nothing than products.
Don’t forget if you have rubble you can only buy few Russia products in Russia. However you have dollar you can buy any products in the world.

 

[Indos]

That’s unrealistic. to have an economic impact the country must have economic size. Russia economy is less than Italy in few years will be about Spain, then Netherlands. It’s like claiming the Dutch would require all payments in local currency for their products. Oil, gas, minerals are nothing than products.
Don’t forget if you have rubble you can only buy few Russia products in Russia. However you have dollar you can buy any products in the world.

See what I wrote as shift is accelerating, I dont say the USD dominant will be fall in 2024, but the shift is already happening and accelerating

More Rubel, more Yuan, and more trading using Yuan-Rupiah, Yuan-Ringgit, etc are going on, I dont talk specifically about Russian Rubel impact. Cooperation between Central Banks in developing world to use non USD payment in the transactions has been on going since last year.

 

[Abid123]

That’s unrealistic. to have an economic impact the country must have economic size. Russia economy is less than Italy in few years will be about Spain, then Netherlands. It’s like claiming the Dutch would require all payments in local currency for their products. Oil, gas, minerals are nothing than products.
Don’t forget if you have rubble you can only buy few Russia products in Russia. However you have dollar you can buy any products in the world.

People like you have to stop looking at nominal GDP and more at GDP PPP. "Russia economy is less than Italy in few years will be about Spain".

Russia's economy is the 6th largest in the world. How do you think Russia has build 2nd or 3rd best military in the world? GDP PPP...

 

[Viet]

People like you have to stop looking at nominal GDP and more at GDP PPP. "Russia economy is less than Italy in few years will be about Spain".

Russia's economy is the 6th largest in the world. How do you think Russia has build 2nd or 3rd best military in the world? GDP PPP...

Ppp is worthless if you can’t buy products people want to sell. You can try to brag how high your Ppp you are kicked out of the store. Putin can brag Russia economy is $10 trillion but if they can’t afford BMWs then people here die laughing.
About military, yes that’s the only thing the Russians are proud of. That’s why their living standard is low.

 

[Chat SAMOSA]

Today's news from Pakistan: Pak govt is mulling getting 20% of 5 CPEC projects in advance, in USD to be held in Pakistan. In return Pakistan will issue PKR to the Chinese companies involved (that will pay this 20% in USD) for mtg their operational expenses. A creative solution enabled by US dollars.

 

[Han Patriot]

Ppp is worthless if you can’t buy products people want to sell. You can try to brag how high your Ppp you are kicked out of the store. Putin can brag Russia economy is $10 trillion but if they can’t afford BMWs then people here die laughing.
About military, yes that’s the only thing the Russians are proud of. That’s why their living standard is low.

Paper is also useless if you know what I mean. As long as resource suppliers like Russia Venezuela and Iran use Rmb. Dollar dominance will diminish, its just economics, you can't keep on printing dollars. Money is after all a means of exchange, but if US keep on abusing their currency, sooner or later teh cards will fall. Its just common sense

 

[dbc]

Russia oil and gas supply will float the developing world and the payment is Rubel, not USD anymore, the shift has already been accelerated after Western nations sanction Russian energy sector with their USD payment system.

Rupiah to Ruble - IDR to RUB exchange rate

Convert Indonesian Rupiahs to Russian Rubles with a conversion calculator, or Rupiahs to Rubles conversion tables

fx-rate.net

Here is a well established proven fact. Russia's ability to produce oil and gas will be significantly depleted without access to Western technology. Why do you think Iran has the lowest recovery rates among all oil and gas producers. What did you think western companies are doing in Pekanbaru, Balikpapan and pretty much everywhere in Indonesia? To access this technology Russia needs dollars or euros. Without production Russia has nothing to sell. Selling oil in Rouble is an act of desperation to artificially float the currency - it's not sustainable. The last thing Russia needs is large reserves of unstable violative currencies from countries that don't have anything the Russians need in quantities large enough to offset Russian oil exports. Other than China no one qualifies.

Second, to have any hope of displacing the dollar you need a country with a large trade deficit. The US trade deficit is what keeps massive amounts of dollars in circulation. China is the opposite, it is an exporter with a massive trade surplus with almost every nation on earth. China's consumer spending was miles off the US pre-covid and now has fallen off a cliff post COVID. So much so the Chinese are cutting interest rates and relaxing the requirement for second home ownership going against Xi's 2017 directive, and yet the property market is in recession.

If you buy into the fantasy of a nobody - a guy called Ejaz Akram an Associate Professor of Religion at the university of Lahore on youtube then you are quite gullible.

 

[Indos]

Here is a well established proven fact. Russia's ability to produce oil and gas will be significantly depleted without access to Western technology. Why do you think Iran has the lowest recovery rates among all oil and gas producers. What did you think western companies are doing in Pekanbaru, Balikpapan and pretty much everywhere in Indonesia?

There are still MNC energy companies operating in Indonesia, but currently our state owned energy company, PT Pertamina, is supplying the most of our oil.

Our biggest gas block look like will only be operated by Japan (Inpex) and PT Pertamina as Western companies want to leave the block

---------------------------------

The Indonesian government is directing national oil company Pertamina to buy Shell’s (LON:SHEL) 35% equity in the proposed Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is led by Japan’s Inpex (TYO:1605).

The Masela development has long struggled to gain traction. Moreover, Shell’s divestment process has so far been unsuccessful, adding further uncertainty for the stalled project, which holds 360 billion cubic metres (cm) of gas in the Abadi field.

As a result, Indonesia’s President Joko Widodo, has instructed his government to explore options for state-owned enterprises, notably Pertamina, to buy Shell’s share of the project.

Development of the block is important for Indonesia as it seeks to significantly boost upstream gas production this decade. For Japan, the project is seen as increasingly more strategic following Russia’s invasion of Ukraine. Japan, as part of the G7, has taken a stand against Russia, which leaves Japanese interests in the Sakahalin-2 LNG export project at risk in Far East Russia.

Indonesia’s Pertamina pushed to buy Shell’s stake in Masela LNG project

The Indonesian government is directing national oil company Pertamina to buy Shell’s (LON:SHEL) 35% equity in the proposed Abadi liquefied natural gas

www.energyvoice.com

 

[Indos]

State-owned enterprises still dominating geothermal development in Indonesia

Geothermal operation and development is still largely dominated by state-owned enterprises in Indonesia.

www.thinkgeoenergy.com

Indonesia's Pertamina targets 17% rise in 2022 oil, gas output- exec​

A Pertamina fuel station in Labuan Bajo on Flores Island, Indonesia April 7, 2018. REUTERS/Henning Gloystein

JAKARTA, Feb 24 (Reuters) - Indonesian energy company PT Pertamina Hulu Energi aims to boost its oil and gas output this year by 17% to 1.04 million barrels of oil equivalent per day, including output from overseas assets, its chief executive said on Thursday.

Reporting by Bernadette Christina Munthe Writing by Fransiska Nangoy Editing by Ed Davies

Indonesia's Pertamina targets 17% rise in 2022 oil, gas output- exec

Indonesian energy company PT Pertamina Hulu Energi aims to boost its oil and gas output this year by 17% to 1.04 million barrels of oil equivalent per day, including output from overseas assets, its chief executive said on Thursday.

www.reuters.com

 

[Indos]

8 Indonesians involved in Turkey's Black Sea gas find​

320 billion cubic meters of natural gas discovered last week off Turkey's Black Sea coast​

Pizaro Gozali Idrus and Umar Idris |26.08.2020
JAKARTA

Eight Indonesian engineers were part of the team which discovered natural gas reserves off Turkey's Black Sea coast.

Turkish President Recep Tayyip Erdogan announced last week the discovery of the 320 billion cubic meters (11.3 trillion cubic feet) of natural gas.

The gas field is expected to start operations in 2023 to coincide with Turkey’s 100-year anniversary.

“Not many people have the knowledge and experiences in wireline drilling. That is why we are hired to work here and to train the local staff in Turkey,” said Beni Kusuma Atmaja, who was part of the team.

Apart from him, Randyka Komala, Bahriansyah Hutabarat, Rifani Hakim, Dian Suluh Priambodo, Hardiyan, Indra Ari Wibowo, and Ravi Mudiatmoko were listed as expert staff from Indonesia.

Praising their expertise, Imam Asari, the Indonesian consul general in Istanbul, said: "It should be an example for young people in Indonesia to pursue wider knowledge and achieve great things."

Apart from Turkey, many Indonesian oil and gas professionals work for multinational companies in Malaysia, Abu Dhabi, and the United States.

Oil and gas expert Ibrahim Hasyim said expats working abroad are usually retirees or former employees of the state-owned energy company Pertamina and students who graduated from overseas university.

Fahmy Radhi, another expert, said that Indonesian engineers chose to work abroad as they were paid higher than in the homeland.

"In Indonesia they feel like they are treated as second class citizens and not [recognized] based on their capabilities, both in national and foreign oil and gas companies," said Radhi.

*Writing by Rhany Chairunissa Rufinaldo and Maria Elisa Hospita from Anadolu Agency's Indonesian language service.

8 Indonesians involved in Turkey's Black Sea gas find

320 billion cubic meters of natural gas discovered last week off Turkey's Black Sea coast - Anadolu Agency

www.aa.com.tr

 

[dbc]

There are still MNC energy companies operating in Indonesia, but currently our state owned energy company, PT Pertamina, is supplying the most of our oil.

Our biggest gas block look like will only be operated by Japan (Inpex) and PT Pertamina as Western companies want to leave the block

---------------------------------

The Indonesian government is directing national oil company Pertamina to buy Shell’s (LON:SHEL) 35% equity in the proposed Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is led by Japan’s Inpex (TYO:1605).

The Masela development has long struggled to gain traction. Moreover, Shell’s divestment process has so far been unsuccessful, adding further uncertainty for the stalled project, which holds 360 billion cubic metres (cm) of gas in the Abadi field.

As a result, Indonesia’s President Joko Widodo, has instructed his government to explore options for state-owned enterprises, notably Pertamina, to buy Shell’s share of the project.

Development of the block is important for Indonesia as it seeks to significantly boost upstream gas production this decade. For Japan, the project is seen as increasingly more strategic following Russia’s invasion of Ukraine. Japan, as part of the G7, has taken a stand against Russia, which leaves Japanese interests in the Sakahalin-2 LNG export project at risk in Far East Russia.

Indonesia’s Pertamina pushed to buy Shell’s stake in Masela LNG project

The Indonesian government is directing national oil company Pertamina to buy Shell’s (LON:SHEL) 35% equity in the proposed Abadi liquefied natural gas

www.energyvoice.com

it doesn't matter who owns and operates the field. If you go to any well site in Indonesia you will see it littered with equipment and personnel from western firms.

 

[Viet]

Paper is also useless if you know what I mean. As long as resource suppliers like Russia Venezuela and Iran use Rmb. Dollar dominance will diminish, its just economics, you can't keep on printing dollars. Money is after all a means of exchange, but if US keep on abusing their currency, sooner or later teh cards will fall. Its just common sense

You are less smart than average Chinese.
No, paper money is not backed by oil. It’s your Iq. Japan invents Walkman, Germany first automobile. What invention did Russia? Thermobombastic flamethrower?