So... how long until WW3 actually does break out?

[Shogon]

Not sure why nobody is talking about this...

I mean, what are the chances the American empire declines and they just go into the night willingly and quietly? I suppose it's possible... but, yeah... it's pretty clear that China and Russia are weening themselves completely off of the dollar, at least as much as possible... without shit really hitting the fan.

Personally, I think if this trend continues with other countries throwing the dollar by the wayside, we have a decent chance of seeing WW3 within the next decade, unless it's during the tenure of a U.S. President that is really war avoidant. Guess we'll see.

https://www.ft.com/content/8421b6a2-1dc6-4747-b2e9-1bbfb7277747


China and Russia ditch dollar in move towards ‘financial alliance’

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https://www.ft.com/content/8421b6a2-1dc6-4747-b2e9-1bbfb7277747

Russia and China are partnering to reduce their dependence on the dollar — a development some experts say could lead to a “financial alliance” between them.

In the first quarter of 2020, the dollar’s share of trade between Russia and China fell below 50 per cent for the first time on record, according to recent data from Russia’s Central Bank and Federal Customs Service.

The greenback was used for only 46 per cent of settlements between the two countries. At the same time, the euro made up an all-time high of 30 per cent, while their national currencies accounted for 24 per cent, also a new high.

Russia and China have drastically cut their use of the dollar in bilateral trade over the past several years. As recently as 2015, approximately 90 per cent of bilateral transactions were conducted in dollars. Following the outbreak of the US-China trade war and a concerted push by both Moscow and Beijing to move away from the dollar, however, the figure had dropped to 51 per cent by 2019.

Alexey Maslov, director of the Institute of Far Eastern Studies at the Russian Academy of Sciences, told the Nikkei Asian Review that the Russia-China “de-dollarisation” was approaching a “breakthrough moment” that could elevate their relationship to a de facto alliance.

“The collaboration between Russia and China in the financial sphere tells us that they are finally finding the parameters for a new alliance with each other,” he said. “Many expected that this would be a military alliance or a trading alliance, but now the alliance is moving more in the banking and financial direction, and that is what can guarantee independence for both countries.”

De-dollarisation has been a priority for Russia and China since 2014, when they began expanding economic co-operation following Moscow’s estrangement from the west over its annexation of Crimea. Replacing the dollar in trade settlements became a necessity to sidestep US sanctions against Russia.

“Any wire transaction that takes place in the world involving US dollars is at some point cleared through a US bank,” said Dmitry Dolgin, ING Bank’s chief economist for Russia. “That means that the US government can tell that bank to freeze certain transactions.”

This article is from the Nikkei Asian Review, a global publication with a uniquely Asian perspective on politics, the economy, business and international affairs. Our own correspondents and outside commentators from around the world share their views on Asia, while our Asia300 section provides in-depth coverage of 300 of the biggest and fastest-growing listed companies from 11 economies outside Japan.


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The process gained further momentum after the Trump administration imposed tariffs on hundreds of billions of dollars worth of Chinese goods. Whereas previously Moscow had taken the initiative on de-dollarisation, Beijing came to view it as critical, too.

“Only very recently did the Chinese state and major economic entities begin to feel that they might end up in a similar situation as our Russian counterparts: being the target of the sanctions and potentially even getting shut out of the Swift system,” said Zhang Xin, a research fellow at the Center for Russian Studies at Shanghai’s East China Normal University.

[Shogon]

Continued...


In 2014, Russia and China signed a three-year currency swap deal worth Rmb150bn ($24.5bn). The agreement enabled each country to gain access to the other’s currency without having to purchase it on the foreign exchange market. The deal was extended for three years in 2017.

Another milestone came during Chinese president Xi Jinping’s visit to Russia in June 2019. Moscow and Beijing struck a deal to replace the dollar with national currencies for international settlements between them. The arrangement also called for the two sides to develop alternative payment mechanisms to the US-dominated Swift network for conducting trade in roubles and renminbi.
Russian President Vladimir Putin hosts his Chinese counterpart, Xi Jinping, in June 2019
Russian President Vladimir Putin hosts his Chinese counterpart, Xi Jinping, in June 2019 © AFP

Beyond trading in national currencies, Russia has been rapidly accumulating renminbi reserves at the expense of the dollar. In early 2019, Russia’s central bank revealed that it had slashed its dollar holdings by $101bn — over half of its existing dollar assets. One of the biggest beneficiaries of this move was the renminbi, which saw its share of Russia’s foreign exchange reserves jump from 5 per cent to 15 per cent after the central bank invested $44bn into the Chinese currency.

As a result of the shift, Russia acquired a quarter of the world’s renminbi reserves.

Earlier this year, the Kremlin granted permission to Russia’s sovereign wealth fund to begin investing in renminbi and Chinese state bonds.

Russia’s push to accumulate renminbi is not just about diversifying its foreign exchange reserves, Mr Maslov explained. Moscow also wants to encourage Beijing to become more assertive in challenging Washington’s global economic leadership.

“Russia has a considerably more decisive position toward the United States [than China does],” Mr Maslov said. “Russia is used to fighting, it does not hold negotiations. One way for Russia to make China’s position more decisive, more willing to fight is to show that it supports Beijing in the financial sphere.”

Dethroning the dollar, however, will not be easy.

Jeffery Frankel, an economist at Harvard University, told Nikkei that the dollar enjoyed three major advantages: the ability to maintain its value in the form of limited inflation and depreciation, the sheer size of the American domestic economy, and the United States having financial markets that are deep, liquid and open. So far, he argued, no rival currency has shown itself capable of outperforming the dollar on all three counts.

Yet Mr Frankel also warned that while the dollar’s position is secure for now, spiralling debts and an overly aggressive sanctions policy could erode its supremacy in the long run.

“Sanctions are a very powerful instrument for the United States, but like any tool, you run the risk that others will start looking for alternatives if you overdo them,” he said. “I think it would be foolish to assume that it’s written in stone that the dollar will forever be unchallenged as the number one international currency.”

A version of this article was first published by the Nikkei Asian Review on August 6 2020. ©2020 Nikkei Inc. All rights reserved.

[RRR3]

You should seriously try smoking weed man.

[~primetime~]

You should seriously try smoking weed man.

That is actually bad for schizophrenia/paranoia

[SATAN]

2-3 years

[Derka]

A stronger China is not in Russia's best interest. China's the largest oil importer in the world and 2,600 miles of thin border is all that stands between the world's largest standing army and the largely-untapped natural resources of Siberia.

As to the currency stuff...not ideal but Russia's largest trade partner (the EU) and China's largest trade partner (the US) all still do business in dollars.

[Shogon]

Hopefully not before i buy my raptor.

:roll:

True story.

[Gohan]

Hopefully not before i buy my raptor.

Don’t do, way too expensive

[Rooster]

Not sure why nobody is talking about this...

I mean, what are the chances the American empire declines and they just go into the night willingly and quietly? I suppose it's possible... but, yeah... it's pretty clear that China and Russia are weening themselves completely off of the dollar, at least as much as possible... without shit really hitting the fan.

Personally, I think if this trend continues with other countries throwing the dollar by the wayside, we have a decent chance of seeing WW3 within the next decade, unless it's during the tenure of a U.S. President that is really war avoidant. Guess we'll see.

https://www.ft.com/content/8421b6a2-1dc6-4747-b2e9-1bbfb7277747

LMAO . Why would even China waste a wealth that they built and created with all the blood sweat and tears with cheap labor and selling their resources cheap. Youre holding into this stupidity trying to create an interest on imaginary money like bitcoin. Dollars will always be a necessary commodity because when everyone buy oil, they need dollars. Only a WW3 will break that system and why would we even do that.

[Shogon]

LMAO . Why would even China waste a wealth that they built and created with all the blood sweat and tears with cheap labor and selling their resources cheap. Youre holding into this stupidity trying to create an interest on imaginary money like bitcoin. Dollars will always be a necessary commodity because when everyone buy oil, they need dollars. Only a WW3 will break that system and why would we even do that.

https://media.tenor.com/images/0f459b6002adf0f251c0859a06bedfa1/tenor.gif

[FourthTenor]

LMAO . Why would even China waste a wealth that they built and created with all the blood sweat and tears with cheap labor and selling their resources cheap. Youre holding into this stupidity trying to create an interest on imaginary money like bitcoin. Dollars will always be a necessary commodity because when everyone buy oil, they need dollars. Only a WW3 will break that system and why would we even do that.


This is not an unfair point.

Theres an argument that invading other countries for oil is actually in all of our best interest, and the best interest of much of the free world. If we dont take control, someone elese will. And that might be worse. For us, for our neighbors, and even for the everyday citizens of these places.

I tend to resent the manner it’s done and the public deception involved, which has led me to typically condemning the idea in general. But I dunno. The world is pretty complicated. Unfortunately we dont wanna face a lot of the unpleasant, inescapable realities life presents to us.

Im not immune to it, tho I think Im more honest than most. God only knows how youre supposed to protect a country’s long term interests while placating a public full of ItsMillerTimes and the unhinged freak-on-a-leash brigade.

[Norcaliblunt]

:
That is actually bad for schizophrenia/paranoia

:roll:Lmao

[Shogon]

This is not an unfair point.

Theres an argument that invading other countries for oil is actually in all of our best interest, and the best interest of much of the free world. If we dont take control, someone elese will. And that might be worse. For us, for our neighbors, and even for the everyday citizens of these places.

I tend to resent the manner it’s done and the public deception involved, which has led me to typically condemning the idea in general. I dunno. The world is pretty complicated. Unfortunately we dont wanna face a lot of the unpleasant, inescapable realities life presents to us.

Im not immune to it, tho I think Im more honest than most. God only knows how youre supposed to protect your countries long term interests while placating the likes of ItsMillerTime and the unhinged freak-on-a-leash brigade.

It is an unfair point. Because that's the entire point of the damn thread. The dollar doesn't have some literal divine quality where it will always have to be used definitively without choice.

[Rooster]

A stronger China is not in Russia's best interest. China's the largest oil importer in the world and 2,600 miles of thin border is all that stands between the world's largest standing army and the largely-untapped natural resources of Siberia.

As to the currency stuff...not ideal but Russia's largest trade partner (the EU) and China's largest trade partner (the US) all still do business in dollars.

China buy most of their oil from Middle East (47%). Only 15 % is from Russia. If they both trust each other, it would be ideal and mutually beneficial for bordering countries to enrich themselves and trade with each other. Shit not happening because it’s not sustainable to fake it in the long run. The gravity will always pull two things alike. Let me put it this way everyone will have their own national interest and only those bishes does the posturing like they are together when they talk about us.

[Rooster]

It is an unfair point. Because that's the entire point of the damn thread. The dollar doesn't have some literal divine quality where it will always have to be used definitively without choice.

On what backing? We have the strongest military that control the seven seas , thus we control the flow of trade. If Iran decided to close their chokepoint, strait of Hormus, who can tell them open it or else. China?, Russia? The one with most bitcoin? Lol

[FourthTenor]

It is an unfair point. Because that's the entire point of the damn thread. The dollar doesn't have some literal divine quality where it will always have to be used definitively without choice.


Of course not. But as long as oil is in demand, controlling the oil supply is a huge boost to a country’s currency, right?? After all, they call it ‘black gold’ for a reason.

Oil will eventually go by the wayside, but probably not any time soon. I agree the long term future of the dollar is on precarious footing, but short and even medium term, I think there are reasons to be skeptical of a full collapse.

[Rooster]

This is not an unfair point.

Theres an argument that invading other countries for oil is actually in all of our best interest, and the best interest of much of the free world. If we dont take control, someone elese will. And that might be worse. For us, for our neighbors, and even for the everyday citizens of these places.

I tend to resent the manner it’s done and the public deception involved, which has led me to typically condemning the idea in general. But I dunno. The world is pretty complicated. Unfortunately we dont wanna face a lot of the unpleasant, inescapable realities life presents to us.

Im not immune to it, tho I think Im more honest than most. God only knows how youre supposed to protect a country’s long term interests while placating a public full of ItsMillerTimes and the unhinged freak-on-a-leash brigade.

LMAO, we don’t invade countries for oil. We protect them and the flow of trade around the world.

I definitely agree that it’s on our best interest to be the one that take over and be that top dog not only for us but around the world. Because if you look at the history, there’s always someone that is greedy enough and have that ego and the end was a devastating consequences. Russia is known for their terrors in state level. China is known for silencing intellectuals with their tyrant form of government. Our people will not stood up for those kind of people.

[Rooster]

Of course not. But as long as oil is in demand, controlling the oil supply is a huge boost to a country’s currency, right?? After all, they call it ‘black gold’ for a reason.

Oil will eventually go by the wayside, but probably not any time soon. I agree the long term future of the dollar is on precarious footing, but short and even medium term, I think there are reasons to be skeptical of a full collapse.

Crude is the most efficient energy and cheapest so even with presence of alternative energy, it will always be a necessary commodity. Our country have about $200 trillion of energy reserve that will remain untapped until the rest of the world run out.

[FourthTenor]

LMAO, we don’t invade countries for oil. We protect them and the flow of trade around the world.

I definitely agree that it’s on our best interest to be the one that take over and be that top dog not only for us but around the world. Because if you look at the history, there’s always someone that is greedy enough and have that ego and the end was a devastating consequences. Russia is known for their terrors in state level. China is known for silencing intellectuals with their tyrant form of government. Our people will not stood up for those kind of people.

I meant that we invade other countries in consideration of the oil business, not that we’re literally piping their oil back to the US.

[Rooster]

Of course not. But as long as oil is in demand, controlling the oil supply is a huge boost to a country’s currency, right?? After all, they call it ‘black gold’ for a reason.

Oil will eventually go by the wayside, but probably not any time soon. I agree the long term future of the dollar is on precarious footing, but short and even medium term, I think there are reasons to be skeptical of a full collapse.


China- Hey Saudi I want to buy million barrels of oil.

Saudi - Do you have dollars?

China- Hey USA, can I get million dollars

US- What can you trade? I need goods or services.

China - We provide cheap labor and cheap goods

US- Good trade


Thats the trade for you in the nutshell.

[Rooster]

I meant that we invade other countries in consideration of the oil business, not that we’re literally piping their oil back to the US.

Did we invade Saudi?

We did what Dutch did even without invading or colonizing for raw materials and resources.

we flash the paper brah.

[Long Duck Dong]

Idk but if someone invades the US, you know the left will be cheering them on right up to the point they are locked up in cages.

[~primetime~]

If we ever took oil into consideration those days are LONG gone...there has been an oil glut for over 5 years now...the US is the largest producer of oil in the world and shale can't even stay in business currently...covid actually took the price of oil into the negative

[FourthTenor]

Did we invade Saudi?

We did what Dutch did even without invading or colonizing for raw materials and resources.

we flash the paper brah.


Of course not, the Bush Fam has close business ties with the Saudi royal family. We invaded Iraq, presumably to remove a rogue dictator who doesnt play ball with his giant oil reserves the way the US wants him to.

Who knows why we invaded a shit-poor country like Afghanistan, save for the fat payout to GE, Halliburton, Boeing, Lockheed etc. Sure as hell had nothing to do with them being any kind of real threat to the everyday lives of Americans, propaganda notwithstanding.

[Rooster]

If we ever took oil into consideration those days are LONG gone...there has been an oil glut for over 5 years now...the US is the largest producer of oil in the world and shale can't even stay in business currently...covid actually took the price of oil into the negative


We don’t produce oil, we import crude oil and refine them and export it around the world. We did what Dutch did before they discovered their natural gas reserve . That’s one way to become wealthy without natural resources. But we also colonized and bought every gold that we can find and stack them. That’s a real wealth .

[FourthTenor]

If we ever took oil into consideration those days are LONG gone...there has been an oil glut for over 5 years now...the US is the largest producer of oil in the world and shale can't even stay in business currently...covid actually took the price of oil into the negative


Ofc Im speculating but this feels more like the inevitable ebb and flow of the market than reflecting a true decline in oil’s practical value, no?

[Shogon]

On what backing? We have the strongest military that control the seven seas , thus we control the flow of trade. If Iran decided to close their chokepoint, strait of Hormus, who can tell them open it or else. China?, Russia? The one with most bitcoin? Lol

Oh, damn, man. I guess you're right. I guess empires with the strongest military never fall and there is literally no way that we are on the down swing.

[Rooster]

Of course not, the Bush Fam has close business ties with the Saudi royal family. We invaded Iraq, presumably to remove a rogue dictator who doesnt play ball with his giant oil reserves the way the US wants him to.

Who knows why we invaded a shit-poor country like Afghanistan, save for the fat payout to GE, Halliburton, Boeing, Lockheed etc. Sure as hell had nothing to do with them being any kind of real threat to the everyday lives of Americans, propaganda notwithstanding.

Iraq is a key to control that Middle East just like Iran. We have been itching to take Iran, we just don’t want to look like a villain doing it.

Afghanistan is a strategic location with plenty of untapped minerals to boot. Also if we are able to take Assad out and take Syria, Russia will be left with little leverage ( Definitely put a clamp on their 70% of their GDP). Iran will definitely go with our flow after that.

Seems like your opinion is all media based propaganda. Follow the money and power and you will get better sense.

[FourthTenor]

Iraq is a key to control that Middle East just like Iran. We have been itching to take Iran, we just don’t want to look like a villain doing it.

Afghanistan is a strategic location with plenty of untapped minerals to boot. Also if we are able to take Assad out and take Syria, Russia will be left with little leverage ( Definitely put a clamp on their 70% of their GDP). Iran will definitely go with our flow after that.

Seems like your opinion is all media based propaganda. Follow the money and power and you will get better sense.


So you assert “we dont invade countries for oil” but you assert we invade Afghanistan for minerals.

Is oil a mineral? Tbh I have no clue, Im guessing youll look up the answer and then pretend to have known it already.

Seems like youre being contrarian for the sake of sounding smart.

[Rooster]

Oh, damn, man. I guess you're right. I guess empires with the strongest military never fall and there is literally no way that we are on the down swing.


LMAO with that blanket statement. Why can’t you just say buy the Bitcoin. Brah do you think Feds print all the paper on this digital age (LMAO). Can they possible create money out of thin air and make it disappear out of thin air ( and collect the interest). Or that countries buying oil creates our money out of thin air. Why do you think armored car collect all the papers. Hmm mm. do the Feds burn that paper. Hmmm

[Rooster]

So you assert “we dont invade countries for oil” but you assert we invade Afghanistan for minerals.

Is oil a mineral? Tbh I have no clue, Im guessing youll look up the answer and then pretend to have known it already. Either way your assertions seem pedantic and it feels like your focus is on sounding smart and contrarian more than having a useful dialogue.

We buy them with our papers.

Our paper in exchange with their natural resources.

We buy one bar of iron and make thousand needles, what’s your profit?

[Norcaliblunt]

WW3 is what this country needs. It’ll unite us for a common good.

[~primetime~]

Ofc Im speculating but this feels more like the inevitable ebb and flow of the market than reflecting a true decline in oil’s practical value, no?

It's been over produced...there is too much of it...OPEC is having to cut oil production down so that it doesn't become completely worthless

oil demand I believe is still going up (pre-covid I mean) but it is starting to level off as cars become more efficient and batteries are starting to gain market ground

[~primetime~]

We don’t produce oil, we import crude oil and refine them and export it around the world. We did what Dutch did before they discovered their natural gas reserve . That’s one way to become wealthy without natural resources. But we also colonized and bought every gold that we can find and stack them. That’s a real wealth .
The United States is the largest producer of oil in the world.

[Axe]

The United States is the largest producer of oil in the world.
:lol

[FourthTenor]

It's been over produced...there is too much of it...OPEC is having to cut oil production down so that it doesn't become completely worthless

oil demand I believe is still going up (pre-covid I mean) but it is starting to level off as cars become more efficient and batteries are starting to gain market ground


That's what I'm saying, the price itself is a result of various factors including over production. The ability to control the supply is still crucial I would think. As you point out, the demand is still going up.

[Rooster]

The United States is the largest producer of oil in the world.

Yes we are , you’re correct. I meant those are independent producers who operate only internally within our country. In global level , we import crude oil and resell it as refined.

[~primetime~]

That's what I'm saying, the price itself is a result of various factors including over production. The ability to control the supply is still crucial I would think. As you point out, the demand is still going up.

But the price of oil has been so low, we can't even keep our own production online, and we produce a lot...US shale companies can't even stay in business right now. When covid hit there was a moment when you literally couldn't give oil away...it was actually in the negative.

[Lebron23]

Op is suffering from Mental Illness. World War 3 ain't going to happen not in this life time.

[MrFonzworth]

Op is suffering from Mental Illness. World War 3 ain't going to happen not in this life time.

Was waiting for you to chime in so I can know the truth. I can finally get some sleep

[AintNoSunshine]

A war involving these countries are dangerous, if not careful the world will be largely destroy.

[Nanners]

If/When WW3 happens, it will probably result in a large nuclear war, which would likely mean the end of organized human civilization on this planet (at least temporarily)... or worst case scenario result in the total extinction of humanity.

Hopefully it never breaks out

[Axe]

Ww3 will not happen as long as op is a closet gay

[Doomsday Dallas]

According to the Albert Pike letters, it's suppose to be a huge war in the Middle East between Jews & Muslims.

my feeling is once Iran comes back into the picture... WWIII could follow soon after.

eventually somebody will make a move on Iran.

[Lakers Legend#32]

Trump does not have the patience or attention span for a military build up, so he will use nukes right away.

[Table]

https://www.youtube.com/watch?v=SxK9x0p8Nf4


https://www.youtube.com/watch?v=vuBWbpTJRqk

[Table]

According to the Albert Pike letters, it's suppose to be a huge war in the Middle East between Jews & Muslims.

my feeling is once Iran comes back into the picture... WWIII could follow soon after.

eventually somebody will make a move on Iran.

Albert Pike was a fat smelly slob. Probably a pedophile like his brothers. He definitely wrenched his knob watching the daughters of his bros twerk on stage so he and his ilk can judge the hottest daughter/grand daughter of them all. Job's daughter never wins, it's always the Rainbow Snatch.


https://www.youtube.com/watch?v=3oBYNUatbS4

[Table]

Trump does not have the patience or attention span for a military build up, so he will use nukes right away.

Magic Pen!s lacked the patience to put a condom on when he took it in the bum. Now he has a weirdo tranny son that also takes it in the bum.

[JEFFERSON MONEY]

Magic Pen!s lacked the patience to put a condom on when he took it in the bum. Now he has a weirdo tranny son that also takes it in the bum.

Please get help.

[Shogon]

https://www.youtube.com/watch?v=3oBYNUatbS4

https://freethinkingministries.com/wp-content/uploads/2018/10/NPC-crowd-485x282.jpg

[warriorfan]

https://freethinkingministries.com/wp-content/uploads/2018/10/NPC-crowd-485x282.jpg

****ing crazy. It’s interesting when she leads the Tee ball question “should we impeach Donald Trump?” and after a second or two of the hamster wheel turning you see the persons face light up like a Christmas tree. “Yesssss!”, and immediately after, many of them start darting their eyes around, making sure everyone else is well receiving their pleas of OMB.

These poor souls just wanted to be liked, needed, loved. The only way they know how to achieve this is shrieking random nonsense about the orange man, tear down the system, etc etc. This is a direct action of the fall of the nuclear family. These people don’t have families, want families, but ultimately don’t know how to have a family besides loosely affiliated counter-culture groups that band under OMB.