Petroyuan Coming? End of the dollar?

[heavy_industry]

You keep worrying about things that you have absolutely no control over.

The real answer to this question: it doesn't matter.

Winners will keep winning. Losers will keep losing.

The world economy is more complex than anyone can possibly comprehend. Trying to predict the future in a system that has hundreds of thousands of variables is preposterous.

Pandemics, wars, civil unrest, new scientific discoveries, natural disasters, a F*cking meteorite. Anything can happen at any time without warning.

Focus on the things that you actually have control over. If you know how to achieve success, you will be able to survive or even thrive in any economy.

 

[MJ DeMarco]

Why?

Because US leaders play the short-game, like children playing checkers. China plays the long-game, like adults playing chess.

The end result is a foregone conclusion, the question is, when and what is the damage.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Guest-5ty5s4]

People are already decrying the amount of energy it takes for bitcoin to exist. Imagine the energy it would take, and computer processing power required, to manage a world wide clearing house for an electronic currency. The same globalists that want a carbon tax will push for electronic currency? I find it hard to believe. Maybe they are pshing for more efficient alt currency tech, at which point maybe you are right and I am naive. I just haven't heard anything like that.

And how would take be an improvement over the current system? The current dollar based system is basically electronic. This would require "the world" to agree. But world unity has peaked, and we are re-entering a phase of factionalism again.

Bitcoin takes a lot of energy because it's supposed to be deflationary and decentralized, the polar opposite of centralized government (and potential/imagined globalist) digital currency. Bitcoin has a mining algorithm that uses massive amounts of GPU power to make sure decentralized users check each other when creating new units and that only a finite amount of coins are entered into the system... again, the polar opposite of what governments want.

Why would they have complicated "mining" algorithms that use tons and tons of power for a CBDC? They wouldn't.

They would just type in the number of dollars or coins they want in their account or wallet to buy your home, land, business, etcetera, just like they can do now, cause more inflation, except there would be no cash or way to buy or sell things without being traced. Sucks to suck, poor people and those without documentation or means. Guess they never cared about you after all (hate to say we all knew that).

The entire point of this is that none of that matters and it never did. They never cared about that stuff. It's all lip service.

Powerful world leaders want control and unlimited money. Like always.

Inflation is simply a credit card with no limit, no interest, that the citizens pay for. It is the greatest business in the world.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kak]

US not looking good.

That doesn't mean China is looking good, either. I wouldn't want to invest there.

This is kind of my thoughts on the matter. No central bank is trustworthy. It’s trading one bankster for another.

Free markets don’t depend on trusting someone with central control. Look for the free market solution to actually stomp the dollar out. And no, I don’t think it’s going to be the existing crypto stuff.

Imagine a bunch of poor pimple faced basement dwelling crypto Twitter douches selling their coins to Chevron for international trade purposes. LOL.

 

[BizyDad]

Trying to predict the future in a system that has hundreds of thousands of variables is preposterous.

Pandemics, wars, civil unrest, new scientific discoveries, natural disasters, a F*cking meteorite. Anything can happen at any time without warning.

Focus on the things that you actually have control over. If you know how to achieve success, you will be able to survive or even thrive in any economy.

Spoken like an American living in the comfort of America. I don't know that you're American, but...

There is some truth in your words, but this isn't the whole truth.

Turning a blind eye to what's going on in the world is still turning a blind eye of what's going on in the world.

I challenge you to thrive in Ukraine's economy right now.

I'd say that's hyperbole, except for the fact that it's Ukraine's economy right now.

If you only focus on what you can control, then you have a very small view of the world. That's not necessarily a bad thing. Laser focus can be helpful.

But you also might miss a macroeconomic force that will wipe out your business.

Whereas if you were paying attention, you could have gotten out of there sooner. Let's not act like there wasn't warning for what happened in Ukraine.

Don't want to deal with hurricanes, don't live in Florida. Don't want to deal with earthquakes, don't live in California. I mean, "didn't see it coming" And it's close cousin "couldn't see it coming" sounds like a euphemism for "I wasn't thinking far enough ahead".

Even scientific discoveries don't happen overnight. Maybe read some scientific journals to see what people are working on before the mass public knows what's going on.

Conversely, if you don't pay attention to macroeconomic forces, you might miss an opportunity to ride a wave to the top that makes you look like a genius.

There's nothing in this thread that merits being called preposterous. We are simply people leaning on each other's understanding to try and gain a better foothold in this world.

We have every right to try and improve our understanding. We have every right to try and act on some of this stuff. Who are you to say that we have no control over it?

What if I decide to start an anti-fed blog, and then write a book, and then become a speaker, warning about the ills of the Fed.

And what if all that was inspired by the commentary in this thread? In this hypothetical world, Kak and Chosen would be catalysts towards my big life change.

And who are you to tell me that I can't do it? I've achieved overnight results before.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kevin88660]

China is accelerating the pace of RMB internationalization.

Whenever there is a shift in the global reserve currency, the new challenger usually needs to come in with some form of backing with complex assets such as energy or precious metal, and leads to their rapid price appreciation.

The doomsday financial sphere has been a crying wolf for over a decade. But Maybe the wolf is coming this time.

RMB becomes Brazil's second-largest international reserve currency

The Chinese yuan, or renminbi (RMB), has surpassed the euro to become Brazil's second-largest international reserve currency.

news.cgtn.com

China completes first LNG cross-border yuan settlement transaction - Global Times

www.globaltimes.cn

https://www.nasdaq.com/articles/petrodollar-dusk-petroyuan-dawn:-what-investors-need-to-know

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kevin88660]

Funny to read this post now as earlier today I opened a position in Singaporean bonds as a proxy to play exactly what you are talking about. I used to have one in Chinese bonds but couldn't accept to be relying on the CCP.

Yields are good enough to be interesting and it serves as a hedge against the USD and especially for me against the EUR. I also feel much more comfortable owning Singaporean debt than French debt.

Dedollarisation is probably real but these are deep processes that play out on very high time frames.

Major obstacle towards RMB internationalisation is self-imposed by China. Largely due to capital control. If global capital could go in out of China quickly at ease that will increase the demand of RMB.

My trading play will be more focused on energy and precious metal. A currency crisis of Dollar will inevitably benefit these assets.

 

[Guest-5ty5s4]

US not looking good.

That doesn't mean China is looking good, either. I wouldn't want to invest there.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[EmotionEngine]

Something I saw on Twitter since people are freaking out. Not sure it will take 30 years in the modern era but it won't be tomorrow.

 

[BizyDad]

I think Russia has more to fear from China than we do.

China and Russia are allies right now.

Allies of convenience. This is like saying Mexico and the US are allies right now.

Sure. True.

But there is a big brother little brother, don't-you-dare-even-think-of-crossing-me-because-you-need-me-more-than-I-need-you, tone to these "alliances".

Everyone is concerned China will push towards Taiwan. But what if China pushes towards the oil in Russia? Russia is a pariah now. Military being weakened. Who in the world would step up to rally around Russia if China makes such a move for the sake of their national interest?

Now that would be playing chess, not checkers.

What I'm most curious about, is how to prepare for de-dollarization.

Like I said in my prev. post, my (mostly worthless W.A.G. of a ) prediction is not that the Yuan or some other currency will "replace" the dollar, but rather that Fedcoins or some other globalist digital currency will.

People are already decrying the amount of energy it takes for bitcoin to exist. Imagine the energy it would take, and computer processing power required, to manage a world wide clearing house for an electronic currency. The same globalists that want a carbon tax will push for electronic currency? I find it hard to believe. Maybe they are pshing for more efficient alt currency tech, at which point maybe you are right and I am naive. I just haven't heard anything like that.

And how would take be an improvement over the current system? The current dollar based system is basically electronic. This would require "the world" to agree. But world unity has peaked, and we are re-entering a phase of factionalism again.

We have unlimited 3rd world immigration

Exactly. We are still the place people want to come to. Sometimes they are disappointed when they get here, but we have it SO EASY in this country our men want to become women and our women think they can be men.

No one ever dreamed this is what "pinnacle success" would look like, but here we are.

We are a country that has politicians who don't represent the average citizen

When has this ever not been true? Politicians do have to look at things more than just the concerns of the common man, which is why most actions taken by them were unpopular in their time. Even our own revolution was instigated by a minority opinion which fomented resentment until a movement was built.

Our country doesn't produce anything.

Except our own food, oil, technology, military hardware, software, spaceships, cars, and soon in my state, high end semi-conducters. Shoot, we are even re-shoring textiles.

No one wants to work.

The Japanese don't even have people to work. They use robots. So can we.

People are just looking to game the system for free money.

I refer you to every era in history.

makes a run for the exit.

To where exactly? Australia and New Zealand don't want us. Europe has many things worse than here. Anyone that wants to leave, go. I say bring in the immigrants that do all the grunt work anyway and let their children re-invigorate this country.

 

[BizyDad]

“I’m not superstitious but I am a little stitious.”

Some of my worst fears and the worst conspiracy theories keep coming true..

I just hope we can pivot, or better

If social credit scores are introduced, a major backlash wouldn’t be out of the question

Little stitious. Lol.

Here's something I've learned from the forum.

I'm not sure if you were here for the Atlas shrugged reading group. It was pretty early on in my time at The Forum, and I remember arguing with people like @Kak . Like in my mind, these people were crazy. This kind of stuff was never going to happen. Okay, maybe not never, but DEFINITELY not in my lifetime. I was confident anyone who thought that was smoking crack. Just straight crazy talk.

And then COVID hit. And I saw "everything" that we talked about in that thread come to pass.

2 days ago I was pretty sure this stuff wasn't going to happen. Literally one day later, and I'm like hmm maybe that That Chosen One has a point...

I never say never anymore...

Except for when I do. Lol.

 

[Guest-5ty5s4]

At first I thought that the reason the dollar was being "dropped" around the world was due to inflation. That didn't make sense though, because every currency was also fiat and also experiencing inflation.

Then I read about Biden's actions against Russia and Russian banks and it made more sense. The thing was that for the longest time, US currency was neutral and was used for exchange worldwide. Only recently was the dollar actually politicized - before, it was only threatened to be used politically.

Now that it's being used politically, all of these countries are dropping it as the real exchange currency.

It's not a good thing for America.

What's more, Biden "making good on the threat" isn't that great because most people don't see it or understand it... and the consequences are not very big either, as you can see, because Russia has alternatives (China, BRICS, etc.)

Biden is playing checkers. We have dumb leaders.

 

[YanC]

Funny to read this post now as earlier today I opened a position in Singaporean bonds as a proxy to play exactly what you are talking about. I used to have one in Chinese bonds but couldn't accept to be relying on the CCP.

Yields are good enough to be interesting and it serves as a hedge against the USD and especially for me against the EUR. I also feel much more comfortable owning Singaporean debt than French debt.

Dedollarisation is probably real but these are deep processes that play out on very high time frames.

 

[BizyDad]

If global capital could go in out of China quickly at ease that will increase the demand of RMB.

I will just throw out that I am nowhere close to an expert on this subject. But I have to ask...

Would it?

Or would outflow exceed inflow and capital flee to the US? That's what happened the last time China got a little loose in its policy, right? And that's why they closed the doors again.

Idk... Seems to me for something to be the global reserve currency, the largest economy in the world would probably have to use it.

Because the largest economy in the world doesn't really care about any day-to-day market fluctuations or manipulations in the currency.

And doesn't the Chinese government watch their currency just a little too tightly, whether we're talking about the yuan or the petrolyuan, I just don't see it unseating the dollar anytime soon.

I feel like every few years I hear about something else that's going to unseat the dollar.

And here we are.

I wonder how much of all of this is shaped by propaganda. You guys in Asia say you keep reading stories about this. But I do a Google search, and I only find a handful of stories going back four years. (To be clear, I'm suggesting there's propaganda on both sides).

It's interesting to get your perspective. Challenges my bubble a little bit.

But with the United States pulling out of wars in the Middle East and Afghanistan, and pulling manufacturing out of China to bring it to North America, I think we're finally starting to clean up our house.

And if we clean up our house, the dollar is just going to be stronger. We're getting leaner and meaner over here.

Is some new idea really going to take this over? I thought maybe the Euro had as good a shot as any. Doesn't look like it anymore...

 

[socaldude]

Why?

The back door in the US was left wide open. "Gotcha" will be the famous last words. A lot of what seems a$$-backwards being done in the US, I think is actually a clever strategy/agenda by a small group of people.

We are a country that has politicians who don't represent the average citizen and won't stop selling us out for bottom dollar and full of entities that won't stop stealing anything nailed to the floor.

Our country doesn't produce anything. No one wants to work. People are just looking to game the system for free money. We have unlimited 3rd world immigration masquerading as Ellis Island. Our citizenry is obese and misinformed.

It's just a matter of time before the party's over and the invoice is due and everyone makes a run for the exit.

I've lost all faith in America. The government, the economy, it's institutions and it's citizenry/democracy.

 

[Kak]

Little stitious. Lol.

Here's something I've learned from the forum.

I'm not sure if you were here for the Atlas shrugged reading group. It was pretty early on in my time at The Forum, and I remember arguing with people like @Kak . Like in my mind, these people were crazy. This kind of stuff was never going to happen. Okay, maybe not never, but DEFINITELY not in my lifetime. I was confident anyone who thought that was smoking crack. Just straight crazy talk.

And then COVID hit. And I saw "everything" that we talked about in that thread come to pass.

2 days ago I was pretty sure this stuff wasn't going to happen. Literally one day later, and I'm like hmm maybe that That Chosen One has a point...

I never say never anymore...

Except for when I do. Lol.

I say this a lot now… Literally NOTHING surprises me anymore.

 

[Freddy270291]

This is why the world needs Trump back. Especially to prevent a war here in Asia. The world demands Trump to be back asap to save humanity.

Dem neocons are trying everything to not make him run for elections, because if he runs he will probably win (unless of other frauds during the voting process).
I don't sympatize for him (because I am not american, so not following the campaigns), but if I compare his previous 4 years to Biden's period I see he did much better.. the old man in power now is a shame, honestly.

 

[Kevin88660]

Watch out, America: China and Russia are stockpiling gold

This could be the start of those countries’ attack on the dollar.

www.marketwatch.com

Yeah I knew I rememberd something from way back about Russia and China stockpiling gold, they've been doing that for a few years now, so maybe they're bringing the gold standard back? I'd actually be kind of excited for it if that's the case.

Exciting but also dangerous.

Probably need to have some stored food, bottles of water, and weapons (legal only), depending on where you are. No harm being a little bit more paranoid.

Major currency depreciation lead to massive imported inflation. If things get too bad there might be SHTF moment in the surrounding.

 

[Kevin88660]

Joe Biden has plans for us lol. Discuss. How does this affect most people let alone fastlaners who have made it?

If there is a significant U.S. dollar depreciation against foreign currencies, those easy paths such as “make half a million dollar in U.S. and retire in Thailand” kind of paths might be severely affected.

It will also hit dollar denominated assets. The FIRE community who relies on “S&P always go up” will find their retirement plan further set back by a decade or more.

 

[Guest-5ty5s4]

Why?

The factors that are commonly used to rank countries economically - debt, inflation, political stability, public approval, birth trends, immigration and emigration... There are quite a few headwinds right now. They can be turned around but at the moment there are just so many negatives... It's not positive. We really need good people with experience and skill to get more involved...

 

[BizyDad]

debt, inflation, political stability, public approval, birth trends, immigration and emigration

Because US leaders play the short-game, like children playing checkers. China plays the long-game, like adults playing chess.

The end result is a foregone conclusion, the question is, when and what is the damage.

True. But everything is relative. We printed a lot of money. China printed more. We have inflation. Europe has it worse.

At the end of the day, we make all our own food, can supply all our own energy needs, are bring back manufacturing for key industries either directly within our borders or to Mexico so efficiencies will be achieved, and other than a nuclear attack, we don't face military threats on our borders.

Meanwhile, Europe has to deal with a war, most of the world will be dealing with Russian oil going offline, Russian and Ukraine food, fertilizer, and mineral exports going to 0/next to nothing. South/Southeast Asia have to deal with an increasingly bellicose China who had their access to high end semi-conductors turned off, amongst other issues they face.

China plays the long game? Maybe. Do you think perpetual lockdown was the right way to handle COVID? With manufacturing ground to a halt, they lost a lot of foreign investment, never to return. And many countries are defaulting on their belt and road loans. So maybe they just aren't that good at the game either.

With respect MJ, that wasn't really an answer. That was not unlike the kind of fearmongering US politicians engage in.

I think Russia has more to fear from China than we do.

On top of all that, we still have the world's most powerful navy. So the Philippines, S Korea, Japan, Australia are all lining up on "our side" of the coming world order while maintaining varying degrees of self direction.

Or at least that is what the propaganda I see would have me believe. Again, I am not an expert and do not claim to see what other people claim is obvious.

Ask me about small business, I know a lot. Ask me about global economics and I'm on this thread to learn. I'm hoping people can counter the narrative I've been seeing. Or perhaps folks in other countries can confirm what my largely American perspective sees. I have a bubble. The bubble makes sense to me. What am I missing?

 

[Guest-5ty5s4]

True. But everything is relative. We printed a lot of money. China printed more. We have inflation. Europe has it worse.

At the end of the day, we make all our own food, can supply all our own energy needs, are bring back manufacturing for key industries either directly within our borders or to Mexico so efficiencies will be achieved, and other than a nuclear attack, we don't face military threats on our borders.

Meanwhile, Europe has to deal with a war, most of the world will be dealing with Russian oil going offline, Russian and Ukraine food, fertilizer, and mineral exports going to 0/next to nothing. South/Southeast Asia have to deal with an increasingly bellicose China who had their access to high end semi-conductors turned off, amongst other issues they face.

China plays the long game? Maybe. Do you think perpetual lockdown was the right way to handle COVID? With manufacturing ground to a halt, they lost a lot of foreign investment, never to return. And many countries are defaulting on their belt and road loans. So maybe they just aren't that good at the game either.

With respect MJ, that wasn't really an answer. That was not unlike the kind of fearmongering US politicians engage in.

I think Russia has more to fear from China than we do.

On top of all that, we still have the world's most powerful navy. So the Philippines, S Korea, Japan, Australia are all lining up on "our side" of the coming world order while maintaining varying degrees of self direction.

Or at least that is what the propaganda I see would have me believe. Again, I am not an expert and do not claim to see what other people claim is obvious.

Ask me about small business, I know a lot. Ask me about global economics and I'm on this thread to learn. I'm hoping people can counter the narrative I've been seeing. Or perhaps folks in other countries can confirm what my largely American perspective sees. I have a bubble. The bubble makes sense to me. What am I missing?

The United States has had the tremendous advantage of printing the world's reserve currency for almost a century now. If that privilege is lost, it could change everything.

The currency is a fiat currency, like all other currencies. You are right that every country is in the same boat. However, losing that status is not the same as all other countries, because that means going from a place of enormous power to a place of being the same as everyone else.

Like toppling a giant... not great for our position...

Being a fiat currency also means that the main things backing the country are ability to repay through taxes, more debt, firepower/might, and general stability. Recent events show that our leadership and political situation at home are ... less than ideal or stable.


China and Russia are allies right now.

You don't need a PhD to read books and learn things.

Btw, I am pro-United States, I am just saying what I've read and researched from my best attempt at being unbiased. It does not make me happy to say that things look a bit sour.

--
All that being said, I don't think the Yuan is the biggest concern (one world government, digital currency, those are my biggest concerns), I am NOT claiming to be an "expert," I am not making any "solid" predictions about the future, just sharing my opinions and guesses that are nearly worthless really. Hopping on a very interesting thread, and hoping that things turn around for a great country I call home.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Guest-5ty5s4]

Something I saw on Twitter since people are freaking out. Not sure it will take 30 years in the modern era but it won't be tomorrow.

View attachment 48201

What I'm most curious about, is how to prepare for de-dollarization.

Like I said in my prev. post, my (mostly worthless W.A.G. of a ) prediction is not that the Yuan or some other currency will "replace" the dollar, but rather that Fedcoins or some other globalist digital currency will.

 

[Kevin88660]

What I'm most curious about, is how to prepare for de-dollarization.

Like I said in my prev. post, my (mostly worthless W.A.G. of a ) prediction is not that the Yuan or some other currency will "replace" the dollar, but rather that Fedcoins or some other globalist digital currency will.

Hedge against import inflation. Because if Dollar appreciates against foreign currencies, everything not made in U.S. will be more expensive.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MitchC]

This is kind of my thoughts on the matter. No central bank is trustworthy. It’s trading one bankster for another.

Free markets don’t depend on trusting someone with central control. Look for the free market solution to actually stomp the dollar out. And no, I don’t think it’s going to be the existing crypto stuff.

Imagine a bunch of poor pimple faced basement dwelling crypto Twitter douches selling their coins to Chevron for international trade purposes. LOL.

The only alternative or threat to bitcoin is if something better comes along, like actually sound money, so it’s worth betting on, you win either way.

Hopefully a gold backed currency or something good is coming back.

I have a feeling it is.

Either way the dollar has been worthless since 1971 and will continue to be so what does this change?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kak]

The only alternative or threat to bitcoin is if something better comes along, like actually sound money, so it’s worth betting on, you win either way.

Hopefully a gold backed currency or something good is coming back.

I have a feeling it is.

Either way the dollar has been worthless since 1971 and will continue to be so what does this change?

The problem is that no real treasury has any money and no reserve bank has any real reserves. Everyone has been on MMT for a century and no one can just go re-establish sound money.

What are they going to do to get enough gold to back an entire national currency? Print money to buy it? In doing so they also have to admit they screwed up, which makes their problems worse. It’s a catch 22.

Maybe a super small country with a balanced budget slowly becomes a banking giant, but the west will just call them terrorists and kill them if they threaten the Ponzi scheme they have going.

 

[heavy_industry]

Spoken like an American living in the comfort of America. I don't know that you're American, but...

There is some truth in your words, but this isn't the whole truth.

Turning a blind eye to what's going on in the world is still turning a blind eye of what's going on in the world.

I challenge you to thrive in Ukraine's economy right now.

I'd say that's hyperbole, except for the fact that it's Ukraine's economy right now.

If you only focus on what you can control, then you have a very small view of the world. That's not necessarily a bad thing. Laser focus can be helpful.

But you also might miss a macroeconomic force that will wipe out your business.

Whereas if you were paying attention, you could have gotten out of there sooner. Let's not act like there wasn't warning for what happened in Ukraine.

Don't want to deal with hurricanes, don't live in Florida. Don't want to deal with earthquakes, don't live in California. I mean, "didn't see it coming" And it's close cousin "couldn't see it coming" sounds like a euphemism for "I wasn't thinking far enough ahead".

Even scientific discoveries don't happen overnight. Maybe read some scientific journals to see what people are working on before the mass public knows what's going on.

Conversely, if you don't pay attention to macroeconomic forces, you might miss an opportunity to ride a wave to the top that makes you look like a genius.

There's nothing in this thread that merits being called preposterous. We are simply people leaning on each other's understanding to try and gain a better foothold in this world.

We have every right to try and improve our understanding. We have every right to try and act on some of this stuff. Who are you to say that we have no control over it?

What if I decide to start an anti-fed blog, and then write a book, and then become a speaker, warning about the ills of the Fed.

And what if all that was inspired by the commentary in this book. In this hypothetical world, Kak and Chosen would be catalysts towards my big life change.

And who are you to tell me that I can't do it? I've achieved overnight results before.

That's a very valid point my friend.

But I would say that 90% of the focus should be on what is right in front of you, while the other 10% is keeping an eye on what is going on around in the world.

The percentage may differ based on the country you live in and the industry in which you are working.

But either way, even that 10% of global awareness that you maintain, should be completely devoid of any negative emotions (e.g. anxiety), because that will only cripple you and make you irrational.


I've learned this lesson the hard way during the covid era:

What happens around you may not always be under your control, but what is happening within you should be 100% under your control.

And who are you to tell me that I can't do it? I've achieved overnight results before.

Of course you did!
Achieving your dream physique has never been easier!
Use the coupon code "heavy_industry" for your 50% off discount!*

*Terms and conditions may apply. Results may vary.

 

[Kevin88660]

Dem neocons are trying everything to not make him run for elections, because if he runs he will probably win (unless of other frauds during the voting process).
I don't sympatize for him (because I am not american, so not following the campaigns), but if I compare his previous 4 years to Biden's period I see he did much better.. the old man in power now is a shame, honestly.

This thread could also be "Grandpa Joe's de-dollarization Progress Thread". He has made tremendous progress this year, compared to the action faking of the previous predecessors.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kevin88660]

I already started accumulated bullions from more than ten years ago.

I used to read financial information and geopolitical events daily. It was quite an awful time distracted away from building real business related skill.

It just seems that the wolf might be really coming this time. I added in some derivate position of leveraged silver 3SIL. (not financial advice).

For members who are familiar with goldbug community kind of stuff, over the past few years there were successful lawsuits from miner companies against financial speculators keeping the price of precious metals down.

Ex-Wall Street Trader Convicted of Fraud in Precious Metals Spoofing Scheme

A federal jury in the Northern District of Illinois convicted a former trader at JPMorgan Chase and Credit Suisse today of fraud in connection with a spoofing scheme in the gold and silver futures markets.

www.justice.gov

This is one of the major event on “conspiracy theory” turning into fact.

Another popular “conspiracy theory” was that China holds more gold than its official reserve, calculated from Hong Kong imports figures alone.

We shall see.

OPEC just announced another round of production cut to boost price.

F. William Engdahl ‘s thesis on petroldollar was that America allowed OPEC’s oil embargo using Israel as an excuse. It was a win-win for both as OPEC raises prices to increase market cap of oil as a commodity. As dollar is getting used to price oil, this creates demand for dollar.

If history repeats, China could be just copying it. Xi just visited Saudi King MBS as well, before the OPEC’s announcement on production cut.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Xeon]

China is accelerating the pace of RMB internationalization.

Whenever there is a shift in the global reserve currency, the new challenger usually needs to come in with some form of backing with complex assets such as energy or precious metal, and leads to their rapid price appreciation.

The doomsday financial sphere has been a crying wolf for over a decade. But Maybe the wolf is coming this time.

RMB becomes Brazil's second-largest international reserve currency

The Chinese yuan, or renminbi (RMB), has surpassed the euro to become Brazil's second-largest international reserve currency.

news.cgtn.com

China completes first LNG cross-border yuan settlement transaction - Global Times

www.globaltimes.cn

https://www.nasdaq.com/articles/petrodollar-dusk-petroyuan-dawn:-what-investors-need-to-know

I'm now seeing news daily about more and more countries embracing this concept lol, including ASEAN. Not sure if it's possible to have 2 world reserve currencies, e.g: the USD and whatever currency China/Russia comes up with.

I only worry about my fixed deposits if something happens to the USD.