Page 2 of 4 FirstFirst 1234 LastLast
Results 11 to 20 of 33

Thread: Russia rejects US warnings over oil deal with Iran

  1. #11
    Sage
    Sherman123's Avatar
    Join Date
    Jul 2012
    Location
    Northeast US
    Last Seen
    11-23-17 @ 11:12 AM
    Gender
    Lean
    Undisclosed
    Posts
    7,774

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by MildSteel View Post
    I don't know about that popularity stuff. This is of interest

    Will China's Sale of Treasuries Force the Fed to Buy? - Barron's
    This is an article from more than two years ago and you seem to have drawn odd conclusions from it. China has continued to buy US treasuries at a steady, even at an increased pace due to the sluggish Eurozone recovery. It has only reduced in the past few months due to Fed announcement on slowing asset purchases. The reality is that Chinese holdings of US treasuries rose in 2012 and in 2013 (by 4%) after the brief slough in 2011. Their holdings are gigantic and they have given no serious indication that they intend anything other than inflections on the status quo. Ideologically (and usually emotionally) motivated individuals have been tooting the horn of the downfall of the USD as the chief reserve currency or a Chinese treasury sell-off. Neither have happened and they are less likely now than they were five or ten years ago.

  2. #12
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 09:46 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,496

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by Deuce View Post
    Oh I'm sure the right-wingers will start proclaiming this is all because Obama "looks weak," as if something cosmetic is really what makes the world turn. Then they'll try to avoid saying they support military intervention because they know that's stupid.
    Wait, you mean Obama's strategy hasn't intimidated Putin into doing what we want??
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  3. #13
    Banned
    Join Date
    Mar 2014
    Last Seen
    08-18-15 @ 09:36 AM
    Gender
    Lean
    Undisclosed
    Posts
    4,974

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by Sherman123 View Post
    This is an article from more than two years ago and you seem to have drawn odd conclusions from it. China has continued to buy US treasuries at a steady, even at an increased pace due to the sluggish Eurozone recovery. It has only reduced in the past few months due to Fed announcement on slowing asset purchases. The reality is that Chinese holdings of US treasuries rose in 2012 and in 2013 (by 4%) after the brief slough in 2011. Their holdings are gigantic and they have given no serious indication that they intend anything other than inflections on the status quo. Ideologically (and usually emotionally) motivated individuals have been tooting the horn of the downfall of the USD as the chief reserve currency or a Chinese treasury sell-off. Neither have happened and they are less likely now than they were five or ten years ago.
    I'm not disputing that they will continue to buy them because if they don't we won't have the money to purchase all those goods they are manufacturing. The point is that they have the desire to move away from using the dollar as a reserve currency and are in the process of diversifying their holdings.

    Here's something more recent, if you don't believe me that's from the state run press calling for a de americanized world

    Commentary: U.S. fiscal failure warrants a de-Americanized world - Xinhua | English.news.cn

    Commentary: U.S. fiscal failure warrants a de-Americanized world

    BEIJING, Oct. 13 (Xinhua) -- As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world.

    Emerging from the bloodshed of the Second World War as the world's most powerful nation, the United States has since then been trying to build a global empire by imposing a postwar world order, fueling recovery in Europe, and encouraging regime-change in nations that it deems hardly Washington-friendly.

    With its seemingly unrivaled economic and military might, the United States has declared that it has vital national interests to protect in nearly every corner of the globe, and been habituated to meddling in the business of other countries and regions far away from its shores.

    Meanwhile, the U.S. government has gone to all lengths to appear before the world as the one that claims the moral high ground, yet covertly doing things that are as audacious as torturing prisoners of war, slaying civilians in drone attacks, and spying on world leaders.

    Under what is known as the Pax-Americana, we fail to see a world where the United States is helping to defuse violence and conflicts, reduce poor and displaced population, and bring about real, lasting peace.

    Moreover, instead of honoring its duties as a responsible leading power, a self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas, instigating regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies.

    As a result, the world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites, while bombings and killings have become virtually daily routines in Iraq years after Washington claimed it has liberated its people from tyrannical rule.

    Most recently, the cyclical stagnation in Washington for a viable bipartisan solution over a federal budget and an approval for raising debt ceiling has again left many nations' tremendous dollar assets in jeopardy and the international community highly agonized.

    Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated, and a new world order should be put in place, according to which all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing.

    To that end, several corner stones should be laid to underpin a de-Americanized world.

    For starters, all nations need to hew to the basic principles of the international law, including respect for sovereignty, and keeping hands off domestic affairs of others.

    Furthermore, the authority of the United Nations in handling global hotspot issues has to be recognized. That means no one has the right to wage any form of military action against others without a UN mandate.

    Apart from that, the world's financial system also has to embrace some substantial reforms.

    The developing and emerging market economies need to have more say in major international financial institutions including the World Bank and the International Monetary Fund, so that they could better reflect the transformations of the global economic and political landscape.

    What may also be included as a key part of an effective reform is the introduction of a new international reserve currency that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.
    China go a rather rude awakening back in 2008. The Premier, Wen Jiabao was publically begging the US to remain a credible nation and honor it's debt commitments.

  4. #14
    Sage
    Sherman123's Avatar
    Join Date
    Jul 2012
    Location
    Northeast US
    Last Seen
    11-23-17 @ 11:12 AM
    Gender
    Lean
    Undisclosed
    Posts
    7,774

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by MildSteel View Post
    I'm not disputing that they will continue to buy them because if they don't we won't have the money to purchase all those goods they are manufacturing. The point is that they have the desire to move away from using the dollar as a reserve currency and are in the process of diversifying their holdings.

    Here's something more recent, if you don't believe me that's from the state run press calling for a de americanized world

    Commentary: U.S. fiscal failure warrants a de-Americanized world - Xinhua | English.news.cn



    China go a rather rude awakening back in 2008. The Premier, Wen Jiabao was publically begging the US to remain a credible nation and honor it's debt commitments.
    The United States has been vigorously encouraging China to liberalize the RMB/Yuan for years which is the critical first step in making it a viable reserve currency. Thus far they are the ones holding the breaks on it--not us. They can be as interested in seeing it happen all they want it doesn't change the fact that it would be a massive long term undertaking. Moreover that they are taking no serious steps in that direction. There is so much that needs to be done for the RMB to be a viable reserve currency, let alone one that can challenge the dollar or the Euro.

    Edit: One more thing. When people say 'diversify currency portfolio' that's all well and good but the reality is that with the implosion of the Eurozone no-one has had a good viable alternative to dollars. Euros could make a comeback but since the Great Recession everyone has been going to the USD.
    Last edited by Sherman123; 04-11-14 at 01:26 AM.

  5. #15
    Banned
    Join Date
    Mar 2014
    Last Seen
    08-18-15 @ 09:36 AM
    Gender
    Lean
    Undisclosed
    Posts
    4,974

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by Sherman123 View Post
    The United States has been vigorously encouraging China to liberalize the RMB/Yuan for years which is the critical first step in making it a viable reserve currency. Thus far they are the ones holding the breaks on it--not us. They can be as interested in seeing it happen all they want it doesn't change the fact that it would be a massive long term undertaking. Moreover that they are taking no serious steps in that direction. There is so much that needs to be done for the RMB to be a viable reserve currency, let alone one that can challenge the dollar or the Euro.
    They are not purposing their currency as a replacement. What they have purposed is a basket of currencies or some similar scheme. For example:

    China calls for new global currency - ABC News

    China calls for new global currency

    China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week's London summit on the financial crisis.

    The surprise proposal by Beijing's central bank governor reflects unease about its vast holdings of U.S. government bonds and adds to Chinese pressure to overhaul a global financial system dominated by the dollar and Western governments. Both the United States and the European Union brushed off the idea.

    The world economic crisis shows the "inherent vulnerabilities and systemic risks in the existing international monetary system," Gov. Zhou Xiaochuan said in an essay released Monday by the bank. He recommended creating a currency made up of a basket of global currencies and controlled by the International Monetary Fund and said it would help "to achieve the objective of safeguarding global economic and financial stability."


    Zhou did not mention the dollar by name. But in an unusual step, the essay was published in both Chinese and English, making clear it was meant for a foreign audience.

    China has long been uneasy about relying on the dollar for the bulk of its trade and to store foreign reserves. Premier Wen Jiabao publicly appealed to Washington this month to avoid any response to the crisis that might weaken the dollar and the value of Beijing's estimated $1 trillion in Treasuries and other U.S. government debt.

    For decades, the dollar has been the world's most widely used currency. Many governments hold a large portion of their reserves in dollars. Crude oil and many commodities are priced in dollars. Business deals around the world are done in dollars.

    But the financial crisis has highlighted how America's economic problems and by extension the dollar can wreak havoc on nations around the world. China is in a bind. To keep the value of its currency steady some say undervalued the Chinese government has to recycle its huge trade surpluses, and the biggest, most liquid option for investing them is U.S. government debt.

    To better insulate countries from the ills of one country or one currency, Zhou said the IMF should create a "reserve currency" based on shares in the body held by its 185 member nations, known as special drawing rights, or SDRs.

    He said it also should be used for trade, pricing commodities and accounting, not just government finance.

    In Washington, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner both rejected China's call for a global alternative to the U.S. dollar's role as the international reserve currency.
    .......................
    Quote Originally Posted by Sherman123 View Post
    Edit: One more thing. When people say 'diversify currency portfolio' that's all well and good but the reality is that with the implosion of the Eurozone no-one has had a good viable alternative to dollars. Euros could make a comeback but since the Great Recession everyone has been going to the USD.
    The point is that people are dissatisfied that there are no good alternatives. Therefore they are making moves to rid themselves of their dependencies on the dollar. This trade arrangement between Russia and Iran is an example.

  6. #16
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    Virginia
    Last Seen
    Today @ 10:49 AM
    Gender
    Lean
    Conservative
    Posts
    76,323

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by Deuce View Post
    Oh I'm sure the right-wingers will start proclaiming this is all because Obama "looks weak," as if something cosmetic is really what makes the world turn. Then they'll try to avoid saying they support military intervention because they know that's stupid.
    No it's because your policies suck, you want to be a world economic power as a welfare state. FORGET IT!
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  7. #17
    Sage
    Sherman123's Avatar
    Join Date
    Jul 2012
    Location
    Northeast US
    Last Seen
    11-23-17 @ 11:12 AM
    Gender
    Lean
    Undisclosed
    Posts
    7,774

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by MildSteel View Post
    They are not purposing their currency as a replacement. What they have purposed is a basket of currencies or some similar scheme. For example:

    China calls for new global currency - ABC News





    The point is that people are dissatisfied that there are no good alternatives. Therefore they are making moves to rid themselves of their dependencies on the dollar. This trade arrangement between Russia and Iran is an example.
    But they really aren't. China has been 'calling for a new global reserve currency' for almost a decade now. They've made no serious move in that direction because it isn't possible or desirable at present--hence the large increase in Chinese T-bond purchases over the past two years. They've been doing the opposite. As I said before there is no plausible basket of currencies at present that can supplant the dollar, the Euro was a possibility until the Great Recession. The other would be the RMB/Yuan but only if they undertook a massive liberalization program--something we've been encouraging for years. This is the reality for the foreseeable future.

  8. #18
    Sage

    Join Date
    Oct 2007
    Location
    New York
    Last Seen
    12-13-17 @ 12:40 PM
    Gender
    Lean
    Centrist
    Posts
    11,691

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by MildSteel View Post
    I don't know about that popularity stuff. This is of interest
    It should be noted that the story cited was published in March 2012. Since that time, China's holdings of Treasury securities have increased.

    Latest data: http://www.treasury.gov/resource-cen...uments/mfh.txt
    Historical data: http://www.treasury.gov/resource-cen...s/mfhhis01.txt

  9. #19
    Sage
    Sherman123's Avatar
    Join Date
    Jul 2012
    Location
    Northeast US
    Last Seen
    11-23-17 @ 11:12 AM
    Gender
    Lean
    Undisclosed
    Posts
    7,774

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by donsutherland1 View Post
    It should be noted that the story cited was published in March 2012. Since that time, China's holdings of Treasury securities have increased.

    Latest data: http://www.treasury.gov/resource-cen...uments/mfh.txt
    Historical data: http://www.treasury.gov/resource-cen...s/mfhhis01.txt
    Thanks for reiterating that, I ran that by him but it didn't seem to land.

  10. #20
    Banned
    Join Date
    Mar 2014
    Last Seen
    08-18-15 @ 09:36 AM
    Gender
    Lean
    Undisclosed
    Posts
    4,974

    Re: Russia rejects US warnings over oil deal with Iran

    Quote Originally Posted by donsutherland1 View Post
    It should be noted that the story cited was published in March 2012. Since that time, China's holdings of Treasury securities have increased.
    Is should be noted that if you look at your chart that there was a drop from 1316.7 in November 2013 to 1270.0 in December 2013. That is a substantial drop. The increase that is shown in January 2014 is to 1273.5, which is still far below the 1316.7 in November. THE INCREASE FROM DECEMBER TO JANUARY WAS 1334 PERCENT LESS THAN THE DECREASE FROM NOVEMBER TO DECEMBER!

Page 2 of 4 FirstFirst 1234 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •