More News, Rumors and Opinions Monday Afternoon 4-3-2023
TNT:
LouNDebNC: The Yuan Is an 'Inevitable,' 'Serious Threat' to the U.S. Dollar
Carney: The Yuan Is an 'Inevitable,' 'Serious Threat' to the U.S. Dollar
Jacob Bliss
Carney on ‘Fox and Friends’: China’s Yuan Is an ‘Inevitable,’ ‘Serious Threat’ to the Dollar Being World’s Currency
Breitbart News economics editor John Carney said in an interview on Sunday morning’s Fox and Friends that the Chinese yuan is an “inevitable” and “serious threat” to the U.S. dollar being the world’s currency.
Discussing the Chinese yuan possibly being a threat to the U.S. dollar and hindering the ability of the dollar to be the currency of the world, Carney told the host that he believes it is “inevitable” and it is a “serious threat.”
Carney also agreed with the host that the U.S. dollar has gone through three stages since World War II: when the U.S. was the biggest economy in the world, when the dollar took over global banking, and after the fall of the Soviet Union when the “entire world more or less came under the domination of the U.S. dollar.”
However, he noted that the U.S. dollar is now “drifting away” as China and Russia are “starting to build an alternative block of currencies.”
Carney further explained that the alternative block of currencies could lead to a fractured global market of currencies in the future, like on a “Cold War basis,” with “different blocks of economies in different blocks of currencies.”
“But we are trying to have a smaller trade deficit with China. That’s one of the explicit goals of the United States policy right now,” he clarified. “If that happens, the trade deficit is what gives China so many dollars. That’s why they buy so many treasuries as we try to cut down on that trade deficit.”
“China naturally will have fewer dollars, which will mean that they need to move into a non-dollar-based system,” Carney added. “So this will benefit us as well. It’s part of our policy. It hasn’t been necessarily great for the U.S. economy to have the whole world work on dollars; it actually could end up being beneficial.”
However, when asked what his perspective is about the yuan as a “viable” option to the U.S. dollar and if he believes the “tipping point” could be dependent on what Saudi Arabia uses for their oil transactions, Carney explained that the Saudis want to more or less “diversify their portfolio.”
“They don’t know who’s going to win the contest for the world. And so they do want to make sure that they have some exposure to China and some exposure to the United States,” Carney asserted. “I don’t think, in the long run, that the yuan is actually a threat that it is ever going to become the dominant currency of the world because the Chinese Communist system is not open enough,” whereas the U.S. system is very open, and other countries trust the reserve currency is not going to be manipulated.
“We try to keep inflation very low. We haven’t done a good job of that in the last couple of years, but we have a 40-year track record of keeping inflation low and worked out doing it again. That gives the world a lot more security than China can,” Carney continued, motioning that Europe, Japan, and the Saudis, along with most of the other oil countries, would maintain a close relationship with the dollar, but there will eventually be some sort of “alternate blocks” in the future.
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Courtesy of Dinar Guru
Frank26 Some of the 3-zero notes will co-exist with the new small category notes and the coins that are soon to join the 3-zero notes that are in circulation right now. This whole concept about printing the 20k note it's actually just a rumor...the fact that they're talking about this 20k is just another round megaphone announcement to the citizens of Iraq that a change is coming to their currency.
Breitling Look. We're speculating. You have to believe Iraq can add value to its currency based on how much customers they have, how much production they have and the control of their money supply. They created artificial inflation with their money supply. Always remember that. Always go back to that. If you don't believe they can reduce this money supply then this investment definitely isn't for you.
KTFA:
Clare: Erbil-Baghdad oil and gas agreement will be announced in the next two days
The source also revealed that a delegation of the Kurdistan Regional Government (KRG) will go to Baghdad tomorrow to discuss the technical aspects of the final agreement between Erbil and Baghdad on the issue of oil exportation.
4/03/2023
An informed source confirmed to Kurdistan 24 that the agreement between Erbil and Baghdad will be announced in the next two days.
The source also revealed that a delegation of the Kurdistan Regional Government (KRG) will go to Baghdad tomorrow to discuss the technical aspects of the final agreement between Erbil and Baghdad on the issue of oil exportation.
The Iraqi Oil Ministry announced today that the Iraqi government insists on accelerating the consumption of oil exportation from the Kurdistan Region to the Ceyhan port in Turkey.
Kurdistan Region Prime Minister Masrour Barzani on March 25 released a statement that “our recent understandings with Baghdad have laid the groundwork for us to overcome the arbitration ruling today.”
At Baghdad's request, Turkey halted the export of oil through its Ceyhan port on the Mediterranean on Saturday. The KRG was exporting nearly 400,000 bpd while Baghdad was sending 70,000 barrels a day through the pipeline. LINK
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"It Truly Is Crazy & Evil..Entire System Summed In 6 Letters: I.O.U, Y.O.U." - US Dollar
Mike Maloney: 4-3-2023
The entire world monetary system can be summed up in just six letters: I.O.U. Y.O.U. (I OWE YOU..YOU!)
All banks, whether they are commercial banks or central banks, do not lend anything that already exists. Instead, they just imagine a number, and then they lend it to you...with interest.
This gets even more insane as we go, it truly is crazy...this is fundamentally an evil system that transfers wealth from the many to the few.
Mike calls it the greatest theft in human history. In Chapter 4 of The Great Gold and Silver Rush of the 21st Century, Mike explains in full detail exactly how central banking and currency creation have warped our financial system, creating the most dangerous bubble in human history.
If it sounds confusing, it’s that way by design. The powers that be have deliberately made the financial system as confusing as possible, to the point where most people give up out of frustration.
But if you commit to making this effort, you’ll learn exactly how we ended up in this current financial mess… plus, you’ll see exactly how to protect yourself when the system finally comes tumbling down. It’s shocking, to say the least.