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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

#301

Post by scottLobster »

rsanek wrote: post #263
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 is much more of a "fossil fuel country" than the US. They've got a ways to go to even catch up. https://ourworldindata.org/grapher/energy-mix?tab=stacked-di...

Uh, that chart shows they source a greater percentage of their power from renewables than we do with the exception of nuclear and biofuels. Their wind, solar and hydropower bars are all wider, and they're building more nuclear.

They just don't have our easy-access shale fields. If it wasn't for fracking our coal percentage would likely be just as high

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

#303

Post by jcfrei »

somenameforme wrote: post #177
decimalenough wrote: post #47

Earlier quoted context omitted.

The yuan will never become a reserve currency as long as China maintain tight currency controls around importing and exporting it. It's very difficult to (legally) send CNY out or China. The euro is in a much better position to be adopted as an alternative, but its share of global reserves has been flat at around 20% for years. https://data.imf.org/en/news/imf%20data%20brief%20march%2027

Prior to Bretton Woods countries were well aware that no single country could be entrusted with the power granted in being the global reserve currency. It's too much power that's too tempting to abuse. But they also learned from the collapse of Bretton Woods that even orchestrated agreements with built-in penalties just don't work, because countries can simply ignore them when beneficial. So I think we're headed to a…

> Prior to Bretton Woods countries were well aware that no single country could be entrusted with the power granted in being the global reserve currency.

That's a misleading statement. First of all at the beginning of the 20th century the British pound was clearly the global currency - where a lot of the international commerce happened. Then towards the 1930s and later on the Dollar took over that role. But that role carried much less weight back then - globalization was still in its infancy and a "global reserve currency" as we understand it today simply didn't exist back then. Right now some Dutch pensioners money is invested in American, Canadian, Australian, German, etc. companies. And the parts for most consumer goods are coming from all over the world. Pre Bretton Woods basically none of this existed. This global financial system we speak of today is unprecedented and only exists since the late 70s - where most countries abandoned their currency controls (apart from the US and CH which never really had them).

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

#304

Post by pnut »

rsanek wrote: post #263
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 is much more of a "fossil fuel country" than the US. They've got a ways to go to even catch up. https://ourworldindata.org/grapher/energy-mix?tab=stacked-di...

I think you're not telling the full story with that chart. https://ourworldindata.org/grapher/energy-mix?tab=line&stack...

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

#305

Post by realityking »

soco wrote: post #255
Symbiote wrote: post #240

Earlier quoted context omitted.

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...

You mean a good amount of the 46% consumed by road transports. So my napkin says, when we all switch to driving EV the oil demand will drop by 15%. It's something for sure, but not overly dramatic (to me).

Trucks and buses are starting to be electrified as well. Some boating as well but that‘s a rounding error.

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

#306

Post by lenerdenator »

westpfelia wrote: post #106
lenerdenator wrote: post #78

Earlier quoted context omitted.

> not bombing anyone Not that they wouldn't bomb Taiwan if they thought they could get away with it. The reason they can't, of course, is that doing so carries the risk of starting a thermonuclear war with the United States. > causing chaos to it's [sic] allies... Well, there's two ways to think about this. 1) China doesn't really have allies. They've a long history of pissing off their neighborhood extending back ce…

> Not that they wouldn't bomb Taiwan if they thought they could get away with it. There is zero evidence of this. The last time China even engaged in a direct military conflict was the 1970s. Where as even before Trump America could have invaded almost any country on the planet. and it wouldnt have been to shocking.

> There is zero evidence of this

You're either being willfully obtuse, have very little knowledge of the relations between the Republic of China and the People's Republic of China, or are here to troll.

It's absolutely on the CCP's agenda to bring Taiwan under PRC control, by force if necessary. This has been one of their main objectives since the KMT fled to the island when the CCP captured the mainland. [0] The Strait is arguably one of the hottest geopolitical areas on Earth with major implications for pretty much everyone.

As far as "direct military conflict", depends on your definition of that. If the PLA is having one of its units regularly attack American or Western digital infrastructure, I'd very much consider that to be an attack, and there's plenty of evidence of that. There have also been border skirmishes with India.

[0] https://en.wikipedia.org/wiki/Cross-strait_relations

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

#307

Post by lenerdenator »

danlugo92 wrote: post #285
lenerdenator wrote: post #55

Ah, yes, the best way to react to increased authoritarianism in the US is to checks notes begin doing more business with a country that is the final word in authoritarianism.

Grow up man, we need people to grow up and see the world for what it really is before we can fix it You go against the government (for real) in ANY country you get a bullet, simple as that... That is everywhere... In USA, China, Russia, Paraguay, Laos, or wherever you go look...

Ah, yes. That's how it ended for Joe Biden, right?

"It's all the same", just isn't true. If it were, you wouldn't see any conflict.

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

#308

Post by xyzsparetimexyz »

tgv wrote: post #174
westpfelia wrote: post #106

Earlier quoted context omitted.

> Not that they wouldn't bomb Taiwan if they thought they could get away with it. There is zero evidence of this. The last time China even engaged in a direct military conflict was the 1970s. Where as even before Trump America could have invaded almost any country on the planet. and it wouldnt have been to shocking.

> There is zero evidence of this. Ah, all those exercises are just for fun.

No, they're for force projection. The ideal success with Taiwan is to convince them with a hearts and minds play.

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

#309

Post by DarkNova6 »

pizzathyme wrote: post #22

The US wields incredible negotiating power and hegemony because the dollar is the world’s reserve currency. Like the British pound and the Dutch guilder before it, if that loses reserve currency status it will be harder to borrow on favorable terms, which would affect the entire US economy. This is a big step in that perhaps starting to happen over the next few decades.

At this point it is not a question of whether this will happen but only when. Next to digital currencies and the yuan, Trump has successfully killed the Petrodollar.

The free influx of money, and particularly investor money that gave the US an evergreen advantage will seize. Slow at first, then more and more as time moves on.

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

#310

Post by nairboon »

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.

Do you also make this clarification whenever Bank of America is mentioned, such that no one is confusing it with the FED?
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