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Deutsche Bank becomes first foreign yuan clearing bank in Europe

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Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#231

Post by mirmor23 »

codedokode wrote: post #202
mirmor23 wrote: post #178

Earlier quoted context omitted.

> Most decent emergency / contingency plans will have the fire department, police or whatever local group show up at one or two designated gas stations to provide power, or require these stations to have on-site emergency power. this is just nonsense. https://en.wikipedia.org/wiki/2025_Iberian_Peninsula_blackou... while traveling i got caught up in this. no restaurants, no credit cards working, no grocery stores, no…

If you used cash as a reasonable person you would not even notice that cards aren't working.

> If you used cash as a reasonable person you would not even notice that cards aren't working.

lol. i see. gas stations were closed since pumps were out. similar story with other facilities. luckily, gas station snack shops accepted cash, so buying some water/snacks was possible.

cash is of no use if facilities are not open. now that everything has been spelled out, i'm sure you are able to comprehend ;)

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#232

Post by ButlerianJihad »

jmuguy wrote: post #162
codedokode wrote: post #113

Earlier quoted context omitted.

What's good in electric cars? If a large power plant is destroyed how are you going to charge your electric car to escape?

I hope its strictly an American fantasy to think you're driving out of anywhere when something like that happens. Buy a bicycle.

In Phoenix we all live in the shadow of the Palo Verde nuclear generation plant. And once on the radio I heard some pundits discussing contingencies if PV should glitch out and have a life-threatening disaster. And they matter-of-factly said, "you're gonna be walking." And that would be the truth; in a full-scale evacuation of a city like Phoenix, the freeways are not built to accommodate traffic like that, and yours truly has no car anyway, so I would be packing light and walking in the opposite direction, and/or ignoring the orders, to meet whatever fate awaits.

But I bet there would be a lot of bicycle and vehicle theft going on, in such an event.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#233

Post by Havoc »

zefir wrote: post #64

I wonder if this might be a reaction to the "blindsided" ECB, following a US decision to prop up the Japanese yen. This would be an interesting fracture. https://www.ft.com/content/d9922d0b-51a0-48be-811b-42e08f909...

Doubtful. The clearing house thing must have been in discussions for years already.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#234

Post by ben_w »

elzbardico wrote: post #163
WJW wrote: post #65

Earlier quoted context omitted.

I think this has the causality reversed. The dollar is the world's reserve currency because the US wields incredible negotiating power and has been the de facto military hegemony in the past few decades. It seems likely that the dominance the US has enjoyed in the recent past will diminish somewhat as other blocks with larger population bases catch up on the technology and industrialization fronts, and eventually sta…

US Military has been a paper tiger in reality for quite some time. The problem is that Trump decided to demonstrate this in practice. It is becoming obvious for gulf countries that US military protection is worth nothing.

The US military may be ossifying into a paper tiger, but I'd say Iran mainly shows Trump is a coward and an idiot.

From what I hear, what Trump did with Iran was burn through the US stockpile of certain fancy special-purpose wepons you're really only meant to use to punch a hole for your conventional forces to enter by. Trump is not willing to send in those conventional forces, because many of those personel will die. Trump may not care about the lives of the US personel per se, but with the mid-terms coming up he will care about the impact of those deaths on the election result.

Also: Gulf Wars I and II had a lot of build-up and prep, moving forces into the area; this was diving straight in because someone (my Israeli namesake) flattered Trump's ego.

Now I also think it's not even controversial to say that drone warfare is radically changing the nature of engagements. I don't believe the US could take on present-day Iran, owing to Iran's production of militarily relevant quantities of cheap and good-enough drones; a saturation attack can drain the defensive capabilities of warships, and while the exact performance is classified, a slow upgrade cycle would probably allow a saturation attack to overwhelm the *sensor* capabilities from not too long ago.

Laser defence systems may change that, but those aren't all-weather solutions, and the sea is the exact worse case for this. And I don't know if anyone's thinking about saturation attacks with submersible drones.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#235

Post by avisser »

xingped wrote: post #30
avisser wrote: post #19

Is it a yuan or is it a Renminbi?

It's a little confusing, but technically RMB (renminbi) is the official name of the currency and CNY (yuan) is the base unit of the currency. Think of it like the difference between USD ("US Dollar") vs "dollar and cents", except there is no fractional yuan equivalent of cents, so it's all just yuan.

So the conversation might go, "Hi we're Deutsche Bank - we're able to clear renminbi transactions up to one million yuan." ?

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#236

Post by trillic »

qprofyeh wrote: post #26

I wonder if it has anything to do with the currency apparently being backed by an immense reserve of oil (proven to the world by this year's geopolitical events), then coal, and then a massive amount of renewable solar, hydro, wind kWh's and infrastructure to deliver it to homes and shops. More and more it feels like a nation's kWh throughput is the new metric to track its global influence in manufacturing, industry,…

The more interconnected the grid gets, the more true this becomes.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#237

Post by 4gotunameagain »

thelastgallon wrote: post #93
jillesvangurp wrote: post #57

Earlier quoted context omitted.

One consequence of the transition to renewable energy and electrified transport, is that oil imports will start to decline. And the dollar is of course the currency of choice for that. The US economy and other countries that export fossil fuels will feel the impact over the next decade or so. The energy transition might go a lot quicker than people seem to expect. Currently about 20% of global car sales is electric.…

Demand destruction will collapse profits and accelerate the oil/dollar downfall. Saudi Arabia can profitably pump oil probably under $10/barrel. If demand drops, thats where oil should be. China with [EVs|Solar|BESS|Turbines] will replace all of the fossil fuel countries (US, middle-east, Russia). This is probably the biggest transition in the history of mankind. This is energy production, storage and all the applian…

If the price were to drop all the way down to $10/barrel, demand would skyrocket.

The future where oil demand is so low and and will remain low even after low prices is much further ahead I'm afraid.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#238

Post by rzerowan »

samrus wrote: post #206
thelastgallon wrote: post #93

Earlier quoted context omitted.

Demand destruction will collapse profits and accelerate the oil/dollar downfall. Saudi Arabia can profitably pump oil probably under $10/barrel. If demand drops, thats where oil should be. China with [EVs|Solar|BESS|Turbines] will replace all of the fossil fuel countries (US, middle-east, Russia). This is probably the biggest transition in the history of mankind. This is energy production, storage and all the applian…

> China with [EVs|Solar|BESS|Turbines] will replace all of the fossil fuel countries (US, middle-east, Russia) I dont agree with china having the same position as the FF exporters. Simply because with renewables, you export the means to produce energy rather than the energy itself. So in terms of monetary value, china will be selling alot less panels than the FF countries sell oil. And other countries can also manufa…

ACtually no , even with the export of primary goods that go into the manufactue of renewables like solar the price differential still favours China. A recent example is the boom of local solar manufacture in India whil relies on solar modules imported from china.The assembled panes are still 2X the price of a similar fullly aseembled one from China. And not due too subsidies of labour - a lot of the value chain is highly automated and densely colocated diffrerent from other industrail setups where complimentary industries are geographically separeted which increase final costt by adding unreliable transport and delays into the mix. So at scale and with high volume will continue to be the dominated by China , wear and tear even with renewables will continue to favour the first mover as tech evolves over time.The solar modules/batteries of 10-15 years ago are not the same effficency as those of today.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#239

Post by baggachipz »

tgv wrote: post #198
pocksuppet wrote: post #167

Earlier quoted context omitted.

they didn't say it was

The use of "nations" in that comment is not clear nor substantiated, not in the comment itself, nor in the article. So just to be clear that DB is not tied to a nation, even though the name suggests it is.

And do nations use Deutsche Bank's services?

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#240

Post by Symbiote »

soco wrote: post #207
thelastgallon wrote: post #93

Earlier quoted context omitted.

Demand destruction will collapse profits and accelerate the oil/dollar downfall. Saudi Arabia can profitably pump oil probably under $10/barrel. If demand drops, thats where oil should be. China with [EVs|Solar|BESS|Turbines] will replace all of the fossil fuel countries (US, middle-east, Russia). This is probably the biggest transition in the history of mankind. This is energy production, storage and all the applian…

But, how much of the extracted oil becomes ICE fuel? Because other transports cannot be converted that quick (air, sea...) and most if not all petrochemical industries will still need to exist even if all cars drive electric. So how big will be the effect of crashing fuel demand?

25% of oil production is for cars

16% for trucks and buses

7% for aviation

4% for shipping

2% for rail and domestic waterways

25% + a chunk of the 16% (city buses, shorter distance or smaller trucks, etc) is a good amount.

https://www.statista.com/statistics/307194/top-oil-consuming...

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