The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label opec. Show all posts
Showing posts with label opec. Show all posts

Friday, June 2, 2017

China in process of finally destroying the petrodollar by negotiating an agreement with Saudi Arabia to denominate oil in Yuan

Ever since 2013 when Russia and China began to buy and sell oil in a currency other than the dollar, the clock began to tick on U.S. hegemony over the global financial system.  This is because ever since 1973, the world has been forced to use the petrodollar system and function under a singular reserve currency that for the first time in centuries was not backed by a precious metal.

And subsequently over the next four years, the crack initiated by both Russia and China has begun to spread, with not only Moscow becoming the world's leading producer and distributor in energy, but also in agreeing to sell their oil and natural gas in both Rubles and Yuan.  And this left the last remaining roadblock to completely destroying the petrodollar being the stability and unity of OPEC nations who have stood firmly with the United States in holding onto that 1973 agreement.

However this final hurdle for the East in their battle against dollar hegemony may soon be achieved as China is currently in negotiations with Saudi Arabia to have oil also to be sold in RMB.

China is currently modifying the terms of its oil trade with Saudi Arabia. Specifically, China is working on a deal to pay for Saudi oil using Chinese yuan. This effort poses a direct threat to the security of the dollar. 
If this China-Saudi deal happens — yuan for oil — it’s another step closer to the grave for the petrodollar, which has dominated global finance since 1974. You can revisit Jim Rickards article about the Assault on the Dollar, here
To recap, the petrodollar is weakening because the dollar is losing power as the world’s reserve currency. This is similar to the way pounds sterling gradually fell out of favor during the decline of the British Empire. The decline may take a long time, but what we’re seeing today is another step in the death march of the dollar. - Daily Reckoning
The entire foundation of the dollar being designated as the global reserve currency today is due to its ties to oil, and in particular, to the agreement that OPEC nation force customers to buy their oil only in U.S. dollars.  But once this agreement is breached, then not only will the dollar likely lose its status as the singular reserve currency by de facto rejection, but the U.S. economy and financial system will collapse because the only thing propping it up is the ongoing need for foreign countries to have to buy dollars in order to purchase energy and other commodities.

On the surface the U.S. doesn't appear to be worried about losing its reserve currency status, but this is far from the truth when you understand that most of the wars that the U.S. has engaged in since 2001 have all been about protecting dollar hegemony, and trying to keep Russia and China from succeeding in their plans.

Tuesday, June 7, 2016

Analysts declare OPEC as finished, which opens door for power vacuum in energy sphere

As last week’s OPEC meeting in Vienna came to a close, once again no consensus was formed on price and production levels, leaving OPEC to now be what many analysts are calling, a dead and finished organization.
For the entire year, and especially after the U.S. removed sanctions from Iran to allow them to start selling oil in the public markets again, OPEC has been split between production increases and freezes, and it has led the coalition to crack after almost 50 years of lock-step agreement between the world’s major producers of oil.
This of course now opens the door to a vital power struggle, which is likely to see Russia emerge as the head of a new energy partnership that could leave Saudi Arabia out in the cold, since their reserves are on the downside of peak production, and the U.S. has chosen to throw them under the bus now that the petro-dollar is out as the global standard.
Read more on this article here...

Thursday, March 17, 2016

Foreigners dump dollars in January at the highest rate on record

From August of last year through December, foreigners dumped more than $550 billion in dollar based assets as the demise of the petrodollar in global trade continues to expand.  And as we begin 2016, a new report out for January shows that more treasuries were dumped in that month alone than in any month on record.
The previous high of $48.1 billion in treasuries sent back to the U.S. was shattered in January as foreigners dumped their dollars at a rate of $57.2 billion.  Much of this was tied to country’s using their dollar reserves to shore up their own currencies, but a large part also included less need for dollars to purchase oil and other commodities as the global economy moved strongly into recession.

Read more on this article here...

Thursday, August 27, 2015

Are Russia and the OPEC nations creating plans for the end of the Petro-dollar this week?

This week marks the annual MAKS air show that is held each year in Moscow and surrounding regions, and there is a very interesting lineup of attendees that are coming to this year’s event.  Among them are several leaders from the Middle East and from OPEC nations, and it will bring together several parties that have the power to direct energy and military policies going forward for their countries.
But what is of strategic importance, and what could possibly end up being a monumental sea change in the global energy spectrum, is that this week’s event could bring about the plans for an end of the petro-dollar, and a rise of oil and natural gas being sold primarily in Yuan, or even perhaps gold.

Read more on this article here...