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freediver

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Re: foundations
Reply #540 - Mar 16^th, 2024 at 3:06pm

Bias_2012 wrote on Mar 16^th, 2024 at 1:55pm:

https://www.ozpolitic.com/album/forum-attachments/foundations.PNG

Does anyone really think we have equality before the law? Muslims in Australia are more equal before the law than Traditional Aussies. Muslims reject everything in that Foundations of Modern Civilisation pyramid, so the Lib/Labs treat them like they can do no wrong attempting to keep them on side

You must learn Freediver

I am talking about foundations, not perfections.

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People who can't distinguish between etymology and entomology bug me in ways I cannot put into words.

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MeisterEckhart

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Re: foundations
Reply #541 - Mar 16^th, 2024 at 3:11pm

thegreatdivide wrote on Mar 16^th, 2024 at 1:26pm:

Quote:

Neither wanted the Chinese Yuan - one of the many reasons being the CCP's predilection for their prolific printing of them - 4 times greater per capita than the US.

google

[i]China has stated that it will no longer trade for oil using the US dollar. Instead it will buy oil using the Yuan and buy mainly from Russia.21 Oct 2023

A few published payments in Yuan and then it's back to US dollars and unrecorded gold.

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« Last Edit: Mar 16^th, 2024 at 3:17pm by MeisterEckhart »

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MeisterEckhart Gold Member Offline Australian Politics Posts: 11796 Gender:	Re: foundations Reply #542 - Mar 16^th, 2024 at 3:17pm The reason bullion dealers can feel confident about the claim that precious metals (particularly gold and silver) have intrinsic value is that it is the only medium of exchange when all others fail or become unfeasible.
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thegreatdivide

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Re: foundations
Reply #543 - Mar 16^th, 2024 at 4:03pm

MeisterEckhart wrote on Mar 16^th, 2024 at 2:54pm:

thegreatdivide wrote on Mar 16^th, 2024 at 1:26pm:

google

India is believed to have paid for Russian crude largely in dollars or the UAE dirham. India also has begun trading other commodities for oil. Part of last month's payment was made in bananas, Russian media report, and in-kind payments with other types of fruit are reportedly on the table as well.

'Believed to have' eh! You mean Mr Google doesn't know?

Bananas, eh! Someone had a good laugh writing that up!

The truth is closer to India paying for Russian oil with 'black' gold - all the better for Russia to pay for arms and materiel to supply the war, to China.

more mr google:

https://www.reuters.com/business/energy/payment-woes-delay-supply-russian-sokol-...

Indian state refiners settle oil trade with Russia in United Arab Emirates dirhams after the government advised them against use of the Chinese yuan, though private refiners are still paying in yuan owing to a lack of alternatives.

Obviously India and the US are desperate to avoid internationalization the yuan; India is shooting itself in the foot.

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« Last Edit: Mar 16^th, 2024 at 4:14pm by thegreatdivide »

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thegreatdivide

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Re: foundations
Reply #544 - Mar 16^th, 2024 at 4:09pm

MeisterEckhart wrote on Mar 16^th, 2024 at 3:11pm:

A few published payments in Yuan and then it's back to US dollars and unrecorded gold.

Nonsense.

https://eastasiaforum.org/2024/01/17/chinese-yuan-gains-currency-in-the-gulf-sta...

Chinese yuan gains currency in the Gulf states

And the Gaza genocide maintained by US-made bombs will only hasten the process.

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« Last Edit: Mar 16^th, 2024 at 4:15pm by thegreatdivide »

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thegreatdivide

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Re: foundations
Reply #545 - Mar 16^th, 2024 at 4:13pm

MeisterEckhart wrote on Mar 16^th, 2024 at 3:17pm:

The reason bullion dealers can feel confident about the claim that precious metals (particularly gold and silver) have intrinsic value is that it is the only medium of exchange when all others fail or become unfeasible.

But all others do not become unfeasible; the Britsh pound was replaced by the US dollar, and by mid century the yuan and Indian rupee will be among the major global trading currencies.

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« Last Edit: Mar 16^th, 2024 at 4:19pm by thegreatdivide »

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MeisterEckhart

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Re: foundations
Reply #546 - Mar 16^th, 2024 at 4:14pm

thegreatdivide wrote on Mar 16^th, 2024 at 4:03pm:

MeisterEckhart wrote on Mar 16^th, 2024 at 2:54pm:

thegreatdivide wrote on Mar 16^th, 2024 at 1:26pm:

google

India is believed to have paid for Russian crude largely in dollars or the UAE dirham. India also has begun trading other commodities for oil. Part of last month's payment was made in bananas, Russian media report, and in-kind payments with other types of fruit are reportedly on the table as well.

'Believed to have' eh! You mean Mr Google doesn't know?

Bananas, eh! Someone had a good laugh writing that up!

The truth is closer to India paying for Russian oil with 'black' gold - all the better for Russia to pay for arms and materiel to supply the war, to China.

more mr google:

https://www.reuters.com/business/energy/payment-woes-delay-supply-russian-sokol-...

Indian state refiners settle oil trade with Russia in United Arab Emirates dirhams after the government advised them against use of the Chinese yuan, though private refiners are still paying in yuan owing to a lack of alternatives.

What??!! No bananas?? The petrofruit of the future!!

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thegreatdivide Gold Member Offline Australian Politics<br /> Posts: 12449 Gender:	Re: foundations Reply #547 - Mar 16^th, 2024 at 4:17pm .
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MeisterEckhart

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Re: foundations
Reply #548 - Mar 16^th, 2024 at 7:23pm

thegreatdivide wrote on Mar 16^th, 2024 at 4:13pm:

MeisterEckhart wrote on Mar 16^th, 2024 at 3:17pm:

The reason bullion dealers can feel confident about the claim that precious metals (particularly gold and silver) have intrinsic value is that it is the only medium of exchange when all others fail or become unfeasible.

But all others do not become unfeasible; the Britsh pound was replaced by the US dollar, and by mid century the yuan and Indian rupee will be among the major global trading currencies.

Whichever fiat currencies are used as world reserves, gold will remain the primary international medium of exchange when those fiat currencies fail or are embargoed/restricted.

Countries that maintain gold reserves will always keep a percentage of it 'off the books' for those transactions that require secrecy and opacity such that those transactions will not incur sanctions or directly affect world markets, such as the precious metals markets.

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Grappler Truth Teller Feller Gold Member Online Australian Politics Posts: 83729 Proud pre-1850's NO Voter Gender:	Re: foundations Reply #549 - Mar 16^th, 2024 at 7:38pm Ah, Grasshoppers - what is the value of a dollar's worth of bananas in the oil market? How many bananas make up one American Ruprecht?
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Grappler Truth Teller Feller Gold Member Online Australian Politics Posts: 83729 Proud pre-1850's NO Voter Gender:	Re: foundations Reply #550 - Mar 16^th, 2024 at 7:39pm .
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MeisterEckhart Gold Member Offline Australian Politics Posts: 11796 Gender:	Re: foundations Reply #551 - Mar 17^th, 2024 at 7:16am thegreatdivide wrote on Mar 16^th, 2024 at 4:03pm: Obviously India and the US are desperate to avoid internationalization the yuan; India is shooting itself in the foot. Why should India prefer Yuan over US dollars, Euros, gold or, in this case, UAE Dirhams?
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MeisterEckhart

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Re: foundations
Reply #552 - Mar 17^th, 2024 at 7:30am

MeisterEckhart wrote on Mar 17^th, 2024 at 7:16am:

thegreatdivide wrote on Mar 16^th, 2024 at 4:03pm:

Obviously India and the US are desperate to avoid internationalization the yuan; India is shooting itself in the foot.

Why should India prefer Yuan over US dollars, Euros, gold or, in this case, UAE Dirhams?

Could it be because the US dollar, the Euro and the Yen account for over 90% of foreign exchange transactions, with gold being convertible to anything?

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freediver Gold Member Offline www.ozpolitic.com Posts: 48833 At my desk.	Re: foundations Reply #553 - Mar 17^th, 2024 at 9:40am They just don't trust the Chinese government. Neither individual businessmen nor other governments would. And for good reason too.
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MeisterEckhart Gold Member Offline Australian Politics Posts: 11796 Gender:	Re: foundations Reply #554 - Mar 17^th, 2024 at 9:54am freediver wrote on Mar 17^th, 2024 at 9:40am: They just don't trust the Chinese government. Neither individual businessmen nor other governments would. And for good reason too. Yes, the Yuan is an unreliable currency due to the CCP's manipulation of its value.
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