EU to dump the dollar? Euro to become global trade currency?

[scooterscot]

Very interesting development... and makes a lot of sense too. Why should the EU countries continue buying energy in dollars when the dollar is expensive and said energy comes from non-US countries, like Russia who are dumping dollars?

European Commission President Jean-Claude Juncker will argue the euro should become the global currency for trade instead of the U.S. dollar in his State of the Union speech Wednesday morning.

Addressing the European Parliament in Strasbourg, he will make a pitch for the EU to “punch above its weight, not below,” according to an EU diplomat briefed on the speech. Juncker’s message will be that with the Trump administration withdrawing the U.S. from the world, there is an opportunity for Europe to fill the gap. “There’s no logic at all in paying energy imports in dollar not euro,” an EU diplomat said.

source: https://www.politico.eu/article/jean...rade-currency/

[vetran]

Cue Trump invading Brussels, Or is that only the Bushes & Germany?

As usual the EU logic is compelling.



Hmm
$=60%
€=20% as were the Mark+Franc were before the Euro.

I think that is a Kylie

for our old chum Drunker

[GreenMirror]

There is only one reserve currency.

London property.

HTH BISDI.

[BlasterBates]

Cue Trump invading Brussels, Or is that only the Bushes & Germany?

As usual the EU logic is compelling.



Hmm
$=60%
€=20% as were the Mark+Franc were before the Euro.

I think that is a Kylie

for our old chum Drunker

Lets see what happens now that there is a moron in charge of the Dollar.

[Bean]

Lets see what happens now that there is a moron in charge of the Dollar.

It did fine under Bush jnr didn't it?

[Mordac]

Lets see what happens now that there is a moron in charge of the Dollar.

How do you know the Chair of the Federal Reserve is a moron?

[tomtomagain]

Very interesting development... and makes a lot of sense too. Why should the EU countries continue buying energy in dollars when the dollar is expensive and said energy comes from non-US countries, like Russia who are dumping dollars?

Because commodities are priced in dollars.

Why do you think that pricing oil in any other currency would make the price more stable?

[scooterscot]

*this is not financial advice*

Because commodities are priced in dollars.

And why is that? Because the US sell their debt to other countries. It's been that way for years. Now something very interesting is happening... US debt is being dumped. The most astonishing part is no one knows who's buying it. I suspect it's the FED. The day that secret is no longer a secret expect turmoil in the markets. Almost if the cliff edge is being engineered. When the US cannot sell their debt the dollar is going to experience massive problems. Suddenly you don't want to trade those commodities in a unstable currency.

Brace yourself.

For an understanding where we are in the debt cycle, watch the video below. Keep in mind the last time interest rates were this low was back in the 1930's, it took 20+ years to recover before everyone was smoking weed and having causal sex instead of shaking hands to say hello. Central banks have no tools in the toolbox anymore to advert a crisis let alone the impending debt crisis.

If you're not into crypto then consider insulating your wealth with metals like gold or silver. I mean the actual physical stuff not contract derivatives. The derivatives markets, IMO, will collapse as a result of the debt crisis.

[ladymuck]

Cue Trump invading Brussels, Or is that only the Bushes & Germany?

As usual the EU logic is compelling.



Hmm
$=60%
€=20% as were the Mark+Franc were before the Euro.

That's a terribly poorly constructed chart. No title, no axes labels, no legend.

It could be showing the relative girth of your stomach compared to that of normal people for all I can tell.