Mainstream media acknowledges China will likely compel Saudi’s to sell oil in RMB, causing major hit to dollar and Petrodollar

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In an interview on CNBC on Oct. 11, economist Carl Weinberg told the business network that China is going to compel Saudi Arabia to sell them their oil in the Yuan currency, which will have a serious consequence to the dollar and the Petrodollar system.
Beijing is likely to “compel” Saudi Arabia to sell crude oil in yuan, and others will follow, according to the chief economist and managing director at High Frequency Economics Carl Weinberg. This will hit the US dollar, he says. In an interview with CNBC Weinberg said China has become a key player in the oil market since overtaking the US to become the world's largest importer. Saudi Arabia has “to pay attention to this because even as much as one or two years from now, Chinese demand will dwarf US demand,”Weinberg told the media.
“I believe that yuan pricing of oil is coming and as soon as the Saudis move to accept it — as the Chinese will compel them to do — then the rest of the oil market will move along with them,” he added. A..

How I Became a Gold-Bug

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My father was Hugo Salinas Rocha -“Salinas” was his father’s surname, and “Rocha” was his mother’s surname; the custom of using both parents’ surnames is universal in Latin America. Father was a successful merchant in Mexico City, and in the 1930’s he ran a store in downtown Mexico City. The store belonged to a company […]

Dec 19/Terror in Ankara, Turkey; Zurich, Switzerland and Berlin, Germany/China wants conditions attached to the release of drone/China not happy with Trump’s words that the drone was stolen/Bond prices collapse in China overnight/About 1.1 trillion USA dollars have left China since August 2015/Monte de Paschi reaches the 11 th hour in its rescue attempt/In the gold and silver rigging case, the judge releases the gold emails and they are devastating/A MASSIVE 14.23 TONNES OF GOLD LEAVES THE GLD/YET 1.327 MILLION OZ ENTERS THE SLV VAULTS/

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Gold at (1:30 am est) $1140.50 up $5.20 silver  at $16.03:  down 12 cents Access market prices: Gold: $1139.00 Silver: $16.00 THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON Somehow Shanghai gold fix is not available today  . The Shanghai fix is at 10:15 pm est last night and 2:15 am est early this […]

Baltic Dry Index

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The global economic activity has been falling since the end of 2010. The chart below, called the Baltic Dry Index, measures shipping activity around the world. Due to company and personal debt being too high, global trading is on the decrease, thus affecting the GDP growth. Capital (money) and not debt creates growth. Daily essentials […]