Pertamina Looks for Dollar Alternatives in Oil

The solution to emerging economies rising deficits? Or just buy from Iran, people!

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24 minutes ago, Marina Schwarz said:

The solution to emerging economies rising deficits? Or just buy from Iran, people!

Keep seeing stories of countries wanting to stop using the $ for oil purchases for economic reasons or to avoid the US trying to control who they trade with. If it gains real traction, and it appears to be, the US is in for the mother of all corrections,Trump will go down in history as the President  that ruined the US. He has no idea what he is doing its truly amazing. 

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It really is amazing and it might just turn out to be good for the world.

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(edited)

47 minutes ago, Marina Schwarz said:

It really is amazing and it might just turn out to be good for the world.

Hopefully but I am not sure how a world dominated by China and Russia is going to look mind you, if the Euro comes out on top then we might get lucky.

Edited by jaycee

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I don't think this is a real possibility. The more the merrier, I say. In a good way, that is.

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6 hours ago, Marina Schwarz said:

I don't think this is a real possibility

Why not? Serious question.

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Because other big geopolitical players would not let it happen. Europe may be weak and pathetic but it's not completely helpless and the U.S., with or without dollar hegemony, is and likely to remain strong in the observable future. Let's ignore the mainstream rant about Trump's Russian leanings and try to see the actual picture and how it could develop.

We could either see an exacerbation of the East-West confrontation (more likely in the short term) or, if sober minds prevail, a softening and a more constructive sort of relationships. I realize the Big Bad Wolf line is very popular in some parts of the world but it may not be as sustainable as some think, at least until there is even a handful of people who can think with their own brains rather than their TVs. But in saying this I'm excessively optimistic. Realistically, I believe the East-west division will deepen and this will not be of benefit to the West but I do believe it will not lead to a Russian-Chinese hegemony to replace the U.S. not anytime soon. Russia doesn't have the means and I don't really think it cares about that whatever MSM say, and China has the issue of culture: its culture is not as easily exportable as U.S. culture. 

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Would you say it is a matter of time? 

As I see it China is becoming the worlds bank, so sooner or later they should be able to set terms ? It might not be tomorrow, but eventually.. 

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