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World number one miner BHP (ASX, LON, NYSE: BHP) made Tuesday an exceptionally rare public disclosure of drilling results from a very early-stage exploration program in South Australia, which is already being called by some experts “the thickest high-grade copper intersection seen in years.” The mining giant identified an iron oxide, copper, gold (IOCG) mineralized… Read More
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..
Although gold has a bigger reputation today as a monetary metal, it was often deemed too valuable for everyday transactions throughout history. For the most part, common people in places like Ancient Rome used silver to buy daily staples like grain or wine. As a result, silver has a strong reputation through monetary history as… Read More
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