EU brings industry together to tackle dollar dominance in energy trade

"EU brings industry together to tackle dollar dominance in energy trade"

"The European Union has convened a wide-ranging industrial group to work on promoting the euro and fighting the monopoly of the U.S. dollar in oil and commodities trading, reflecting broader tensions with Washington over trade and sanctions. The group, which involves executives from European oil firms such as OMV and Eni and gas and power firms such as Fluxys and Engie, will meet behind closed doors in Brussels under the auspices of the European Commission on Thursday. The workshop is part of an EU push to challenge the dominance of the dollar, with an EU official saying such a shift must be market-led. Participants are invited to dig into "constraints on (market-initiated) alternatives to the use of U.S. dollar through wider use of the euro, in spite of the benefits of such a change", the Commission said in materials prepared for the meeting. The meeting, part of a consultation process until mid-2019, is expected to provide new input to EU plans for promoting the euro in energy trading.

https://lnkd.in/d2mA4xc

 

US Dollar.jpg

Share this post


Link to post
Share on other sites

The problem is NOT Uncle Sam's crinkled green back; but Fiat money based monetary system controlled & multiplied arbitrarily by Central Banksters & FRB associates worldwide; the world economy or better still the global village inhabitants have seen & put behind Breton Woods agreement Gold backed Dollar  demised following VW & Nixon Shock, and also the demise of Oil backed Petro Dollar free fall since 2000 & particularly 2008 FMD & relentless QE series; now there is only Dollar backed by ICB's; thus the invention of crypto-currencies to partially combat BIC banksters; WS "deplorable's" YJ "barbarians"on streets of France and all other unrest's around the globe indicate clearly people are fed up and angry with nearly 2 centuries of Money printing & FRB Debt manufacturing industries. According to IMF/WB data  World aggregate GDP for 2017 was $80T against a backdrop by some estimate of over $300T global debt. People around the world are all resoundingly & angrily denouncing boom & bust recessionary hyperinflation economy facilitated by fiat money of any color all with the same creed; Euro , Yuan, Rubble, Yen, CHF or GBP have no advantage over Uncle Sam's Petro-Dollar ; ECB has no moral authority over & higher than that of FRB or BOE; all are agents of state committing fraud and crime as articulated by Austrian School of Economics; all are doomed and all should be denounced. If ordinary citizens were to print money at home thy 'll be put behind bars, so should be BIC banksters.

Share this post


Link to post
Share on other sites