Dollar no longer primary oil currency as China begins to sell oil using Yuan

[Islam4globe]

MUSLIM MUGHAL EMPIRE...???? what are you trying to say? you mean It was not emperor Akbar, it was khalifha Akber????

My friend Economist: Clever or pretending to be Clever friend.

MUGHAL EMPIRE did rule sub-continent no doubt. But it got deficiencies at that time in terms of Islam.

But for future ISLAMIC RULE on Sub-Continent it will be pure Khilafah inshaAllah.

 

[Unicorn]

@Unicorn don't you love Islamic Rule. Sure you do, as your ancestors did and they defended the Muslims Empire with blood before invasion of British Raj, after British Raj sides were changed and we Muslims became all alone as we are now and happy but still waiting for good old days of One Region under Islamic Flag with true teachings of Islam to be implemented including giving 100% rights/security/equal opportunities to other faiths which does not exists in Modern Liberal/Secular Democracy.

Hope you will wait or will inform your generations to accept ISLAMIC RULE in future once it spreads to INDIA.

My world revolves around only true religion of 1 GOD i.e. ISLAM. Thanks for mentioning. Really Appreciated. With the Blessings of ALLAH.<|_|_| | .

How The Holy Quran (Last True Revelation of God) describes ALLAH?

Answer: http://www.quran4u.com/Quran HTML/Sura 78-114/112akhlasem.htm

1.Say (O Muhammad SAW):"He is Allh, (the) One.

2."Allh-us-Samad(The Self-Sufficient Master, Whom all creatures need,He neither eats nor drinks).

3."He begets not, nor was He begotten;

4."And there is none co-equal or comparable unto Him."


​

You are welcome to study about Islam.

Start reading and studying Islam here with open/neutral mind.

www.irf.net

Its a nice source for Islamic Information. Give it a try friend.

Thanks.

India will remain Democratic with man made laws(bigsmile).

I have read first 6 chapters and some day read the rest.

 

[crankthskunk]

Months ago I wrote that Chinese on course to do that. They started to diversify their reserves first and are gradually moving away from dollars. It has to be done gradually, otherwise Chinese themselves to lose the most, they hold huge reserves of Dollars; they invested heavily in dollars through US government borrowing requirements.

There are many countries who slowly are going to adopt this line. If Unicorn thinks that suppliers wouldn't adopt the practice to sell oil in other currencies than he is dreaming. If you take the Chinese international trade, OK it imports huge quantity of oil at the moment and its requirement would only going to increase. But it also export huge amounts of consumer goods to other countries. It has trade surplus with majority of countries. It can easily afford to pay in Yuan to the countries who export oil to China. Those countries would be more than happy to deal in Yuan, because they import huge quantity of goods from China, they could easily pay for their imports in Yuan back to China and that way the dollar could be gradually out of the scene for at least part of the world trade China is involved in. Remember it has a huge share and it is growing, while USA share of world trade is declining or static. I have to look at the figures.
But this decision of Chines is significant for world trade. I was expecting it. I pointed to it in my earlier comments on this topic.

As I have said many times on this forum, gradually the Dollar would become toilet paper money, which it really is. The Americans have to learn like all other countries of the world how to pay for their daily requirements from oil to foodstuff like all other countries do.
At the moment it is easy for them, print more money and pay for it, as long as it goes out of the USA for paying foreign invoices, it doesn't even have inflationary effect in the USA. Unlike the Rupees printing of which by corrupt PPP to meet their budgetary requirements causing huge food and other commodities inflation in Pakistan. It also eroded the value of the rupees. No wonder the rupees value is nose diving for last few years.

Once the Americans cannot pay using their fiat money for everything, they had to have reserves like all other countries, they already have huge trade deficit with many countries. It is going to hit the dollar's exchange rate against other currencies, devalue the dollars and then the penny would drop for the average Americans. At the moment they do not understand it.

Americans are going to do another run of the printing press, the QE3 is underway to finance the corrupt banks by the FED. There is already a clamor in the Financial world many blaming FED for the ills of American economy and the future of the dollar.

It is coming slowly, no doubt about it. The only problem is before it happens or about to happen the USA would start WWIII.
It is already underway gradually.
Why everyone thing such huge military complex is created and maintained, it had work wonders in 30's recession and it would be used again when US feel threatened economically. Everyone mark my words.