Rick's Rule for Hunting Tenbaggers

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The recent breakout in the gold price has enthralled many investors in the metals industry, but not Rick Rule. Known for his long-term vision, the natural-resource financier and president of Sprott US Holdings Inc. believes the episode a blip in the grand scheme. Instead, he contends investors should pay attention to US treasury securities as… Read More

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..