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Old December 17th, 2017, 04:08 PM   #21
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Gold Will Soar... As China Kneecaps The Dollar

by Tyler Durden Dec 13, 2017

Chris Lowe: To catch up real quick, why is the petrodollar at risk?

Nick Giambruno: Under the current petrodollar system, all global oil sales are made in dollars. However, the Chinese government recently announced a new mechanism that will allow oil producers anywhere in the world to trade oil for gold.

China’s new mechanism will totally bypass the US dollar and the US financial system… along with any restrictions, regulations, or sanctions from Washington. So for many oil producers, it will be much more attractive than the petrodollar system.

I call it China’s “golden alternative” to the petrodollar. Whatever you call it, though, it will allow for the large-scale trade of oil for gold, instead of dollars.

Here’s how it will work. The Shanghai International Energy Exchange is launching a crude-oil futures contract denominated in yuan, China’s currency. This will allow oil producers around the world to sell their oil for yuan.

Of course, the yuan is a fiat currency, just like the dollar. And most oil producers don’t want large stashes of yuan. The Chinese government knows this. That’s why it’s linked the crude-oil futures contract with the option to efficiently convert yuan into physical gold through gold exchanges in Shanghai and Hong Kong.

Chris Lowe: How soon will this new system be up and running?

Nick Giambruno: I spoke with officials at the Shanghai International Energy Exchange. They told me they plan to go live with it before the end of the year, or shortly thereafter.

Chris Lowe: But isn’t that a good thing? Isn’t gold, as a currency, more reliable than the dollar?

Nick Giambruno: I think it’s high time gold played a more central role in the global monetary system. The problem is ditching the petrodollar would negatively affect the US economy.

Think about it. If Italy wants to buy oil from Kuwait… or Argentina wants to buy oil from Brazil… they have to buy dollars on the foreign exchange market first.

This creates a huge artificial market for dollars.

It means the US can simply print dollars and exchange them for real things like French wine, Italian cars, Korean electronics, or Chinese manufactured goods.

It also helps create a deeper, more liquid market for US Treasury bonds. This pushes up prices… and pushes down yields… which allows the US federal government to finance enormous and permanent deficits.

The petrodollar has allowed Washington to spend astronomical amounts of money on welfare and other benefits for over half the population. This gives Americans a much higher standard of living than they would have otherwise. Most of them don’t know this or understand how it affects their everyday lives.



Gold Will Soar... As China Kneecaps The Dollar | Zero Hedge
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Old December 30th, 2017, 05:26 PM   #22
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AT&T workforce stricken with over 2000 layoffs U.S-wide days after $1000 tax reform bonus check
By Mike Wuerthele
Tuesday, December 26, 2017, 02:34 pm PT (05:34 pm ET)

In the days before Christmas, AT&T and DirecTV gave layoff notices to a large number of landline, legacy service, and home installers spanning the country —and more are coming.

AT&T workforce stricken with over 2000 layoffs U.S-wide days after $1000 tax reform bonus check
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Old January 12th, 2018, 05:38 PM   #23
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GE is cutting 12,000 jobs
by Chris Isidore @CNNMoney
December 7, 2017:

The company says the job cuts will mostly be outside the United States. The power division's headcount will be reduced about 18%. About 295,000 people worked for GE overall at the end of last year, but the company has cut jobs and costs throughout this year.

GE layoffs: It's cutting 12,000 jobs - Dec. 7, 2017
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Old January 12th, 2018, 06:04 PM   #24
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Hmm this was a july prediction, funny GM is increasing production hiring people and building next generation cars as noted in a new thread.

Looks like the ANTI Trumpsters wish crisis on our nation because they hate trump.
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Old January 12th, 2018, 06:05 PM   #25
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Originally Posted by katsung47 View Post
AT&T workforce stricken with over 2000 layoffs U.S-wide days after $1000 tax reform bonus check
By Mike Wuerthele
Tuesday, December 26, 2017, 02:34 pm PT (05:34 pm ET)

In the days before Christmas, AT&T and DirecTV gave layoff notices to a large number of landline, legacy service, and home installers spanning the country —and more are coming.

AT&T workforce stricken with over 2000 layoffs U.S-wide days after $1000 tax reform bonus check
They were not layoffs What happened AT&T increased pension benefits, 1 in every 1000 employees decided to retire.

https://www.cwa9415.org/

Last edited by TNVolunteer73; January 12th, 2018 at 06:07 PM.
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Old January 12th, 2018, 06:16 PM   #26
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Originally Posted by TNVolunteer73 View Post
Hmm this was a july prediction, funny GM is increasing production hiring people and building next generation cars as noted in a new thread.

Looks like the ANTI Trumpsters wish crisis on our nation because they hate trump.
DUDE !!!! Take a reading comprehension class please. The post was for GE as in GENERAL ELECTRIC, not GM, General Motors.

Now GM is hiring. But 95% of that is to replace existing work force due to natural attrition, mostly retirements. 60% of their people are over 50. 40% have reached both the age and the years of service to retire at any point they choose.

They are also not replacing people on a one for one basis. More like 3 out of every 4.
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Old January 12th, 2018, 06:19 PM   #27
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Originally Posted by BubbaJones View Post
DUDE !!!! Take a reading comprehension class please. The post was for GE as in GENERAL ELECTRIC, not GM, General Motors.

Now GM is hiring. But 95% of that is to replace existing work force due to natural attrition, mostly retirements. 60% of their people are over 50. 40% have reached both the age and the years of service to retire at any point they choose.

They are also not replacing people on a one for one basis. More like 3 out of every 4.
My Bad, But that still says the AUTO industry is not hurt. GE is a new player

Auto Sales, October 2017 - Business Insider
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Old January 12th, 2018, 06:24 PM   #28
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They were not layoffs What happened AT&T increased pension benefits, 1 in every 1000 employees decided to retire.

https://www.cwa9415.org/
You're such a fucking liar. There is NOTHING in the link yopu provided to back up your statement.

Your own link DID provide this !!!

Quote:
January 11, 2018
CWA is fighting AT&T's proposed layoff of more than a thousand workers, a betrayal of the company's promise to create thousands of good, middle class jobs.
https://cwa-union.org/news/cwa-fight...ss+Releases%29
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Old January 12th, 2018, 06:25 PM   #29
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My Bad, But that still says the AUTO industry is not hurt. GE is a new player

Auto Sales, October 2017 - Business Insider
And since when does GE build cars ??????
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Old January 12th, 2018, 06:35 PM   #30
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And since when does GE build cars ??????
You were the one that said they built cars not me.
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