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Tag Archives: petrodollar
Recycling Societies for Power and Profit
Recycling Societies for Power and Profit The Cruel Fate of the Pawns of Empire A curious diplomatic spectacle is playing out, as the imperial senate tussles over how hot to make it for the Saudis, and how close to hold the vassal sheikhs’ feet to the fire. Once again we are shown how weak and […]
Iran Signs Oil Deal With Total, Deal Done In Euros
Iran Signs Oil Deal With Total, Deal Done In Euros As Airbus and Peugeot finally return to post-sanctions Iran, the trade-off is Iranian oil, with French Total SA taking the plunge in an agreement to buy up to 200,000 barrels per day of Iranian crude–but the catch is that sales will be in euros. Deals signed […]
Oil Bust Could End Dollar Domination
Oil Bust Could End Dollar Domination The US dollar survived the collapse of Bretton Woods in the ‘70s because its use in crude oil transactions made it the king of reserve currencies, but can it survive a collapse of petro dollars? Can the world survive the catastrophic geopolitical consquences that would follow? There is an […]
Ron Paul Says to Watch the Petrodollar
Ron Paul Says to Watch the Petrodollar The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. […]
Dying Petrodollar Ripples Through Markets As Asset Managers Bemoan Loss Of Saudi Bid
Dying Petrodollar Ripples Through Markets As Asset Managers Bemoan Loss Of Saudi Bid One of the key things to understand about China’s liquidation of hundreds of billions in US paper is that far from being a country-specific phenomenon, it actually marks the continuation of something that’s been taking place in other emerging markets for some […]
The Petroyuan Cometh: Launch Of Renminbi-Denominated Oil Futures Contract Imminent
The Petroyuan Cometh: Launch Of Renminbi-Denominated Oil Futures Contract Imminent Whenever one talks about the death of the petrodollar, the unspoken question lurking just beneath the surface is this: is the rise of the petroyuan just around the corner? This year, we’ve gotten quite a bit of evidence to suggest that the answer to that question […]
Europe’s Biggest Bank Dares To Ask: Is The Fed Preparing For A “Controlled Demolition”
Europe’s Biggest Bank Dares To Ask: Is The Fed Preparing For A “Controlled Demolition” Why did we focus so much attention yesterday on a post in which the IMF confirmed what we had said since last October, namely that the BOJ’s days of ravenous debt monetization are coming to a tapering end as soon as 2017 (as […]
Fallout From Petrodollar Demise Continues As Qatar Borrows $4 Billion Amid Crude Slump
Fallout From Petrodollar Demise Continues As Qatar Borrows $4 Billion Amid Crude Slump Early last month in “Cash-Strapped Saudi Arabia Hopes To Continue War Against Shale With Fed’s Blessing,” we noted the irony inherent in the fact that Saudi Arabia, whose effort to bankrupt the US shale space has blown a giant hole in the […]
ConocoPhillips Fires 10% Of Global Workforce, Warns Of “Dramatic Downturn” To Oil Industry
ConocoPhillips Fires 10% Of Global Workforce, Warns Of “Dramatic Downturn” To Oil Industry Remember when the oil crash was supposed to be “unequivocally good” for the global economy and the US consumer, only for this to be disproven as the biggest macroeconomic lie since “QE is good for the people”? We do – quite vividly […]
Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks
Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks Last weekend, we explained why it really all comes down to the death of the petrodollar. China’s transition to a new currency regime was supposed to represent a move towards a greater role for the market in determining the exchange rate for the yuan. […]
The Collapse Of The Petrodollar: Oil Exporters Are Dumping US Assets At A Record Pace
The Collapse Of The Petrodollar: Oil Exporters Are Dumping US Assets At A Record Pace Back in November we chronicled the (quiet) death of the Petrodollar, the system that has buttressed USD hegemony for decades by ensuring that oil producers recycled their dollar proceeds into still more USD assets creating a very convenient (if your printing press […]
Petrodollar Mercantilism Explained In One Chart
Petrodollar Mercantilism Explained In One Chart Over the past several months, with the price of crude plummeting to half where it was compared to a year ago, we have written much about the monetary reality of the Petrodollar (and more importantly, its recent disappearance), the socioeconomic implications for oil/commodity exporters, the liquidity considerations for the […]
The Death Of The Petrodollar Was Finally Noticed
The Death Of The Petrodollar Was Finally Noticed Three months ago, we wrote “How The Petrodollar Quietly Died, And Nobody Noticed“, in which we explained in painful detail why far from the simple macroeconomic dogma which immediately prompted the macro tourists to scream that “oil prices dropping are good for US consumers“, the collapse in […]
