WW III is about to be launched!

[Sadling]

Well, explain Canada then. We are their biggest customer for oil, and we sure as hell are not trying to force them to use our currency. If they were to decide tomorrow to start charging Euros or Yen or Disney Dollars, we would simply convert it to that digitally in the bank at the time of exchange. The actual currency does not matter a single bit.

CALGARY – When Prime Minister Stephen Harper, standing alongside Chinese Premier Li Keqiang in Beijing’s Great Hall of the People, announced last month that a Renminbi currency trading hub would soon open in Canada, Calgary’s oil and gas sector was paying particular attention.

“I think it probably brings us to a level playing field with the U.S., because right now everything goes through U.S. dollars,” said Greg Stringham, Canadian Association of Petroleum Producers vice-president of oil sands and markets.

The Chinese currency hub, the first of its kind in either North or South America, will allow Canadian companies to deal directly in Renminbi – a move that is expected to save importers and exporters billions of dollars in transaction fees, especially in foreign exchange transactions in and out of the U.S. dollar, while also eliminating an extra layer of uncertainty in the foreign exchange market. For the first time, the Canadian dollar will be valued directly against China’s currency.

The hub would also allow Canadian energy companies to number among the very few producers in the world to sell oil in a currency other than the U.S. dollar. In August, Russia’s Gazprom Neft began accepting Rubles or Chinese currency for oil sales off its eastern coast. Russian president Vladmir Putin has recently described the international oil trade as the “dollar dictatorship.”

‘Level playing field': Why a Chinese currency hub will help boost Canada’s oil sector | Financial Post

 

[joG]

CALGARY – When Prime Minister Stephen Harper, standing alongside Chinese Premier Li Keqiang in Beijing’s Great Hall of the People, announced last month that a Renminbi currency trading hub would soon open in Canada, Calgary’s oil and gas sector was paying particular attention.

“I think it probably brings us to a level playing field with the U.S., because right now everything goes through U.S. dollars,” said Greg Stringham, Canadian Association of Petroleum Producers vice-president of oil sands and markets.

The Chinese currency hub, the first of its kind in either North or South America, will allow Canadian companies to deal directly in Renminbi – a move that is expected to save importers and exporters billions of dollars in transaction fees, especially in foreign exchange transactions in and out of the U.S. dollar, while also eliminating an extra layer of uncertainty in the foreign exchange market. For the first time, the Canadian dollar will be valued directly against China’s currency.

The hub would also allow Canadian energy companies to number among the very few producers in the world to sell oil in a currency other than the U.S. dollar. In August, Russia’s Gazprom Neft began accepting Rubles or Chinese currency for oil sales off its eastern coast. Russian president Vladmir Putin has recently described the international oil trade as the “dollar dictatorship.”

‘Level playing field': Why a Chinese currency hub will help boost Canada’s oil sector | Financial Post

The man is either trying to deceive the people or never traded currencies.

 

[Sadling]

Read the link that I provided.

Sorry, but even you couldn't pinpoint the pertinent passage.

 

[Sadling]

The man is either trying to deceive the people or never traded currencies.

Yes, he just might be trying to pull off a conspiracy here . . .

 

[zyzygy]

CALGARY – When Prime Minister Stephen Harper, standing alongside Chinese Premier Li Keqiang in Beijing’s Great Hall of the People, announced last month that a Renminbi currency trading hub would soon open in Canada, Calgary’s oil and gas sector was paying particular attention.

“I think it probably brings us to a level playing field with the U.S., because right now everything goes through U.S. dollars,” said Greg Stringham, Canadian Association of Petroleum Producers vice-president of oil sands and markets.

The Chinese currency hub, the first of its kind in either North or South America, will allow Canadian companies to deal directly in Renminbi – a move that is expected to save importers and exporters billions of dollars in transaction fees, especially in foreign exchange transactions in and out of the U.S. dollar, while also eliminating an extra layer of uncertainty in the foreign exchange market. For the first time, the Canadian dollar will be valued directly against China’s currency.

The hub would also allow Canadian energy companies to number among the very few producers in the world to sell oil in a currency other than the U.S. dollar. In August, Russia’s Gazprom Neft began accepting Rubles or Chinese currency for oil sales off its eastern coast. Russian president Vladmir Putin has recently described the international oil trade as the “dollar dictatorship.”

‘Level playing field': Why a Chinese currency hub will help boost Canada’s oil sector | Financial Post

Where does that mention the alleged 1970's deal?

 

[zyzygy]

Yes, he just might be trying to pull off a conspiracy here . . .

Why ?

 

[Oozlefinch]

I have no axe to grind here, I don't care if is true or not but as you say we have not yet seen anything factual.

Pretty much my opinion.

Overall, I could not really care less if oil is traded in anything. It can be dollars, won, sheep or coffee beans. But the problem I keep seeing is the lack of any kind of credible proof and documentation. Just talk about secret meetings and agreements with absolutely nothing to back them up with. And their response is always cyclical. In addition, completely removed from the real geopolitics of the era.

 

[zyzygy]

Just talk about secret meetings and agreements

If they were secret then Sadling would know nothing about them. If they are not secret then where is the proof?

 

[joG]

Yes, he just might be trying to pull off a conspiracy here . . .

You think so? I would have said that the Chinese are doing exactly, what the USA has been demanding of them for two decades.

 

[Jango]

Pretty much my opinion.

Overall, I could not really care less if oil is traded in anything. It can be dollars, won, sheep or coffee beans. But the problem I keep seeing is the lack of any kind of credible proof and documentation. Just talk about secret meetings and agreements with absolutely nothing to back them up with. And their response is always cyclical. In addition, completely removed from the real geopolitics of the era.

There's bits-and-pieces all over the place about the U.S. relationship with Saudi Arabia.

New York Times October 2nd, 1981:

President Reagan broadened the American commitment in the Persian Gulf today by saying that the United States would not allow Saudi Arabia to fall into the hands of any internal or external forces threatening to cut off oil supplies for the West.

REAGAN SAYS U.S. WOULD BAR A TAKEOVER IN SAUDI ARABIA THAT IMPERILED FLOW OF OIL - NYTimes.com

"We'll protect you for your oil."

Q. Mr. President, you said a few minutes ago that you would not allow, you would not permit what happened in Iran several years ago to happen in Saudi Arabia. How would you prevent that? Would you take military intervention if that was necessary to prevent it?

The President. I'm not going to talk about the specifics of how we would do it, except to say that in Iran, I think the United States has to take some responsibility for what happened there—with some very shortsighted policies that let a situation come to a boiling point, that there was no need to do that.

But in Saudi Arabia, I just would call to your attention that it's not only the United States, it's the whole Western World. There is no way, as long as Saudi Arabia and the OPEC nations there in the East—and Saudi Arabia's the most important—provide the bulk of the energy that is needed to turn the wheels of industry in the Western World, there's no way that we could stand by and see that taken over by anyone that would shut off that oil.

Ronald Reagan: The President's News Conference

This shield of protection is applied to other OPEC members too, which is of course foreshadowing of the Gulf War when Saddadm went full retard and invaded Kuwait and threatened to invade Saudi Arabia as well attack Israel!

This morning Congress was notified of our intention to sell AWACS aircraft and F15 enhancement items to Saudi Arabia. I have proposed this sale because it significantly enhances our own vital national security interests in the Middle East. By building confidence in the United States as a reliable security partner, the sale will greatly improve the chances of our working constructively with Saudi Arabia and other states of the Middle East toward our common goal—a just and lasting peace.

Further, this sale will significantly improve the capability of Saudi Arabia and the United States to defend the oil fields on which the security of the free world depends.

Ronald Reagan: The President's News Conference

"We'll sell you some of our toys so you can defend yourself better because oil is really important."

Saudi Arabia had its own reasons for helping America fight the Soviets. First, the United States was instrumental to protecting Saudi oil fields and was a country with which the Saudi leadership wanted to stay on good terms. Second, Saudi Arabia was gravely concerned about the advancing Soviet Union. Riyadh interpreted Moscow's Afghanistan adventure as part of a Soviet-directed campaign to encircle the Arabian Peninsula with radical regimes and subvert the oil-rich monarchies. Soviet involvement in Yemen and Ethiopia bolstered that view. And third, it was awash in petrodollars, and could afford to help.

The U.S.-Saudi Love Affair Predates Bush - Council on Foreign Relations

Would an exclusive rights oil deal be something the U.S. would like and probably ask for since it is them who are arming and protecting Saudi Arabia? And if the U.S. asked, would Saudi Arabia go for it?

 

[Jango]

-- Continued --

I wont C&P this, but it is more from the above but from the book: Thicker than Oil: America

Here's another long read: http://www.hpu.edu/CHSS/History/Gra...nifer_Delaney_Final_MADMS_Thesis_Aug_2009.pdf

Book by Robert Baer: Sleeping With the Devil: How Washington Sold Our Soul for Saudi Crude - Robert Baer - Google Books

Stuff from the IMF: Petrodollar Recycling And Global Imbalances -- Presentation by Saleh M. Nsouli, Director, Offices in Europe, International Monetary Fund
https://www.imf.org/external/np/exr/center/mm/eng/mm_rs_03.htm

CRS: http://fpc.state.gov/documents/organization/134287.pdf

U.S. Senate: https://www.congress.gov/bill/94th-congress/senate-bill/1461

U.S. House of Representatives: https://fraser.stlouisfed.org/docs/historical/congressional/197408hr_intpetrodollar.pdf

U.S. Treasury Department: http://www.treasury.gov/press-center/press-releases/Documents/petrodollars.pdf

Other: Congress Gets Plan to Protect Dollar and Oil Supply - Need to Balance Imports Peterson Urges A id for Mideast To Protect Oil Supply and Dollar - Article - NYTimes.com


(Old) GAO Report: http://www.gao.gov/assets/130/126054.pdf

 

[Oozlefinch]

There's bits-and-pieces all over the place about the U.S. relationship with Saudi Arabia.

New York Times October 2nd, 1981:

A decade and 3 Presidents later.

Go back a few decades, and we were allies with Japan, then fought a World War against them, then were allies again.

And similar claims can be made against Russia/Soviet Union/Russia.

Plus do not forget, by that time the Soviets had been in several wars with Israel, and had it's ass handed to it each and every time, with Soviet weapons and advisors. And they had seen how that "Soviet assistance" came with some pretty hefty strings.

Now for "exclusive oil rights"? That is insane. Never happened, and neither the US nor Saudi Arabia would want that.

Sorry, you can't take "everything" and toss it into a big pile and say it is proof of a conspiracy. We were on neutral terms with the Soviets, who were on neutral terms with both Japan and Germany. Therefore we were neutral with Japan and Germany.

Sorry, logic does not work that way.

 

[Fledermaus]

It's because when you've bought into a lie, your ego gets attached to it, and then you start to defend the lies.

it's not that much different from the Stockholm syndrome where people in captivity will start to associate with and even fall in love with their captors and the abuse they had to endure.

Indeed,

Explosives in WTC

No airliner in the Pentagon

Flight 93 shot down

Thermite in the towers

Molten steel

Molten concrete

So many cases where someone has bought into a lie, and let their ego get attached to it..... And continue to defend the lies......

 

[Northern Light]

It would be mutually beneficial to the USA and Russia to start wars at this time, due to their failing economies and increasing civil unrest. War time always lets governments get off the hook for the mistakes they've made, thanks to the old bait and switch.

Unfortunately I think such a war at this point could have dire consequences.

 

[Oozlefinch]

It would be mutually beneficial to the USA and Russia to start wars at this time, due to their failing economies and increasing civil unrest.

"Failing economies"?

The value of the dollar is on the rise, DJIA is at record highs, and the price of gold is falling.

If the "economy was failing", then all of those figures would be the reverse. Stocks and GDP would be dropping, and the price of gold would be rising as more people were trying to secure their assets.

Next time, try making a claim based upon facts, not fantasy and political motivations.

 

[Jango]

A decade and 3 Presidents later.

Go back a few decades, and we were allies with Japan, then fought a World War against them, then were allies again.

And similar claims can be made against Russia/Soviet Union/Russia.

Plus do not forget, by that time the Soviets had been in several wars with Israel, and had it's ass handed to it each and every time, with Soviet weapons and advisors. And they had seen how that "Soviet assistance" came with some pretty hefty strings.

Now for "exclusive oil rights"? That is insane. Never happened, and neither the US nor Saudi Arabia would want that.

Sorry, you can't take "everything" and toss it into a big pile and say it is proof of a conspiracy. We were on neutral terms with the Soviets, who were on neutral terms with both Japan and Germany. Therefore we were neutral with Japan and Germany.

Sorry, logic does not work that way.

What are you talking about?

 

[NWO_Spook]

the "do not need is a lie" and unconstitutional contrary to intent.

just like jolly old england before the revolution kings and slaves!

and they never fired a shot!

And here we have more dumb ****.

 

[Oozlefinch]

And here we have more dumb ****.

However, there is over $370 billion in gold at Fort Knox, which is part of our national assets.

 

[Oozlefinch]

And here we have more dumb ****.

Technically, the statement is true. But accurately it is incorrect. However, technically we own almost nothing but ourselves.

At any time, the US can claim "eminent domain" and displace everybody in the country. And the homes and property are not mortgaged, but are collateral for the value of US currency. And mortgage and collateral are not the same thing. Especially when the value of the collateral far exceeds the value of the debt.

If you use your house as collateral on a loan and then default, that does not mean that the person you took the loan from can seize your house. All it means is that they can place a lien on your house, so that when you sell it they get paid before you do. A Mortgage only applies when you are buying a house, and the house itself is the collateral.

And most in the US really have no idea how special even the arrangement of the US is, where people can actually "own" property.

To be technical, the Monarch of England (currently Elizabeth II) is the actual owner of all land in England and in the Commonwealth. And her people are subjects, not citizens.

The property is "deeded" to the people, and can be transferred. But technically and legally, she owns it. All that is transferred is possession of the land. A very different stance then that here in the US.

 

[Sadling]

Where does that mention the alleged 1970's deal?

CALGARY – When Prime Minister Stephen Harper, standing alongside Chinese Premier Li Keqiang in Beijing’s Great Hall of the People, announced last month that a Renminbi currency trading hub would soon open in Canada, Calgary’s oil and gas sector was paying particular attention.

“I think it probably brings us to a level playing field with the U.S., because right now everything goes through U.S. dollars,” said Greg Stringham, Canadian Association of Petroleum Producers vice-president of oil sands and markets.

The Chinese currency hub, the first of its kind in either North or South America, will allow Canadian companies to deal directly in Renminbi – a move that is expected to save importers and exporters billions of dollars in transaction fees, especially in foreign exchange transactions in and out of the U.S. dollar, while also eliminating an extra layer of uncertainty in the foreign exchange market. For the first time, the Canadian dollar will be valued directly against China’s currency.

The hub would also allow Canadian energy companies to number among the very few producers in the world to sell oil in a currency other than the U.S. dollar. In August, Russia’s Gazprom Neft began accepting Rubles or Chinese currency for oil sales off its eastern coast. Russian president Vladmir Putin has recently described the international oil trade as the “dollar dictatorship.”

‘Level playing field': Why a Chinese currency hub will help boost Canada’s oil sector | Financial Post

What do you imagine Stringham is saying. Read the boldened print. Does that tell you anything about whether or not other oil producers sell their oil in other than U.S. dollars? Regardless of how the deal was arranged, or whether or not it was recorded, the fact remains that a country must acquire U.S. dollars to purchase OPEC oil.
______________________________________________

From the same article:

As University of Calgary Haskayne School of Business professor Bob Schulz explained, virtually all of the oil trading around the world is denominated in U.S. dollars, thanks in large part to “petro-dollar” agreements struck in the 1970s between the U.S. and OPEC countries like Saudi Arabia. The U.S. agreed to provide the Saudis and other countries protection in exchange for OPEC members selling their oil in U.S. dollars.
______________________________________________

Now, in order to deny that the petrodollar system is what it is, you can add professor Shulz to the growing list of other conspiracy theorists whom you must believe don't understand what you do.

 

[NWO_Spook]

However, there is over $370 billion in gold at Fort Knox, which is part of our national assets.

And in Australia the Perth Mint handles our gold reserves, but our dollar's strength isn't linked to it in any way. Can you imagine the disruption to our respective economies since the First Gulf War if our currencies were tied to gold and silver?

 

[NWO_Spook]

Technically, the statement is true. But accurately it is incorrect. However, technically we own almost nothing but ourselves.

I'm not saying it is wrong as it actually supports my point, but the attached childish nonsense was the 'dumb ****'. As the saying goes, do we really own anything?

 

[NWO_Spook]

What do you imagine Stringham is saying. Read the boldened print. Does that tell you anything about whether or not other oil producers sell their oil in other than U.S. dollars? Regardless of how the deal was arranged, or whether or not it was recorded, the fact remains that a country must acquire U.S. dollars to purchase OPEC oil.

No, that is a poor interpretation of the text. Again, countries trade in US dollars, but they don't actually have to hoard the currency. The sections you stress also don't state that actual currency is required to enact any transaction...that's silly. Payment in US dollars is electronic and as such, doesn't require any currency to change hands.

 

[Jango]

A decade and 3 Presidents later.

Go back a few decades, and we were allies with Japan, then fought a World War against them, then were allies again.

And similar claims can be made against Russia/Soviet Union/Russia.

Plus do not forget, by that time the Soviets had been in several wars with Israel, and had it's ass handed to it each and every time, with Soviet weapons and advisors. And they had seen how that "Soviet assistance" came with some pretty hefty strings.

Now for "exclusive oil rights"? That is insane. Never happened, and neither the US nor Saudi Arabia would want that.

Sorry, you can't take "everything" and toss it into a big pile and say it is proof of a conspiracy. We were on neutral terms with the Soviets, who were on neutral terms with both Japan and Germany. Therefore we were neutral with Japan and Germany.

Sorry, logic does not work that way.

The United States and Saudi Arabia established full diplomatic relations in 1940.

Saudi Arabia

3 Presidents since 1981?

You speak in absolutes when there is much information directly and easily defeating your opinion of what the bilateral relationship entails and what perks exist.

...our longstanding bilateral cooperation on energy issues...

FACT SHEET: United States-Saudi Arabia Bilateral Relationship | The White House

Why is it such a bad thing that the U.S. and Saudi Arabia made a business deal?

 

[NWO_Spook]

Why is it such a bad thing that the U.S. and Saudi Arabia made a business deal?

I can't see where he actually stated that it was a bad thing.