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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

#351

Post by curmudgeon22 »

nemomarx wrote: post #223
_heimdall wrote: post #214

Earlier quoted context omitted.

I'll be surprised if renewables overtakes oil for energy production anytime soon. I could see nuclear doing that, but I never can get past the challenges of maintenance and replacement costs for solar panels, turbines, and especially for storage. I will be very happy to be proven wrong here over time though. New battery technology could make a big improvement. And I keep hearing that AI will give us answers to all ou…

Are we using that much oil for energy? The leading non renewable power source now is natural gas or similar, which I didn't think interacted much with the oil market. So even without nuclear, if the future is natural gas pipelines for baseload oil would still be mostly a manufacturing and vehicle fuel deal.

My understanding is that the shift towards natural gas is largely because it is a very cheap byproduct of fracking (for oil). It happens to be "greener" when burned so gets green-washed also.

I wonder what would happen if oil demand was significantly reduced, thus reducing fracking.

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

#352

Post by M95D »

the_gipsy wrote: post #328
jmuguy wrote: post #162

Earlier quoted context omitted.

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

Strictly an American fantasy, that you're left on your own in the face of any kind of disaster.

AFAICT americans are left on their own in the face of any kind of disaster. But, to be fair, in Europe we don't (yet) have the kinds of disasters that they have, so I can't say if europeans are left on their own or not.

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

#353

Post by onraglanroad »

imtringued wrote: post #228
_heimdall wrote: post #214

Earlier quoted context omitted.

I'll be surprised if renewables overtakes oil for energy production anytime soon. I could see nuclear doing that, but I never can get past the challenges of maintenance and replacement costs for solar panels, turbines, and especially for storage. I will be very happy to be proven wrong here over time though. New battery technology could make a big improvement. And I keep hearing that AI will give us answers to all ou…

Ah yes, nuclear is known for having cheap replacement costs, especially Fukushima was known for being particularly cheap. Solar power is the worst, it gets more expensive every year. Regarding batteries... It's over for sodium based batteries (the ones promising us cheap battery storage) because dry coated Lithium ion batteries are coming onto the market which means sodium batteries are an economic dead end.

Until we get dry coated sodium ion batteries of course. Not sure it's over.

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

#354

Post by throwaway27448 »

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,…

> In other words electric power now equates to global power.

In living memory, has this not been the case? Oil's use as an energy source is far more meaningful than its material use.

Part of why I always questioned why calling a country a "gas station" was supposed to be insulting. Yea, that's the main ingredient of being a world power.

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

#355

Post by benhill70 »

zer00eyz wrote: post #20

Deutsche banks slogan should be "If you need to do something shady call Deutsche". At some point china will loose the ability to keep its global currency (Yuan, should be inflating) decoupled from the domestic one (Renminbi is deflating). They have been keeping long running issues in Banking, and Relestate at bay but a global recession (and were on the cusp it seems) is going to be brutal to china. I suspect that if…

You are getting down voted, but folks really need to look at DB extremely shady history.

Read the list for yourselves: https://en.wikipedia.org/wiki/Deutsche_Bank#Controversies

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

#356

Post by Danox »

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…

Oil and gas is more valuable for other uses besides burning it up into thin air. Humans have just been pretty sloppy any country that has plenty of oil and gas won’t go broke.

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

#358

Post by Danox »

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…

China has shown the willingness to develop and use any source of energy. The same cannot be said for the United States.

China is now the world leading developer of Thorium Reactors.

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

#359

Post by WarmWash »

RGamma wrote: post #343
WarmWash wrote: post #209

Earlier quoted context omitted.

It's a fundamental attribute of reality. Take it up with mother nature, because power struggles exist everywhere, even in dumb systems with no intelligence. Weak things go away, strong things stay around. Weak things need to become stronger than strong things to displace them.

There's more than enough energy and resources to go around for humans to peacefully coexist "forever", albeit in lesser numbers than today. The civilization meta game is what ruins it, despite our best attempts to regulate that. And a global self destruct button helps massively... until it does not.

Like I replied to the other commenter, it's an unstable equilibrium. Lots of things can stay perfect forever if nothing throws off the delicate balance.

We can focus effort on maintaining this balance...but doing that requires power to be used. And just like that we are back at step one.

We can communally build up trust to such a high level that everyone can act independently to maintain balance, but this naturally creates a situation where the more trust there is, the bigger the payoff for the one who breaks it. Essentially the prisoners dilemma.

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

#360

Post by Danox »

toomuchtodo wrote: post #170
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…

Saudi Arabia needs oil prices at ~$86.60/barrel to balance their budget, per Bloomberg. It is not the marginal cost to pump a barrel, but what a country needs to support their sticky spending from previously assured energy exports. Governments will collapse long before we approach low single digit oil prices on the global market. The World Is Awash With Oil and Prices Are Poised to Keep Falling - https://www.bloomber…

China is currently pursuing all types of energy/solutions. They are not stuck on any particular one, is that because they’re run by engineers instead of lawyers/MBA’s…
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