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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

#421

Post by rasz »

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…

>Saudi Arabia needs oil prices at ~$86.60/barrel to balance their budget

They can always cut down on candles, they will be fine.

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

#422

Post by [deleted] »

patmorgan23 wrote: post #414
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?

How are you gonna use the electric gas pump in that scenario? The electric car guy just needs a few solar panels.

[deleted]

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

#423

Post by pocksuppet »

thesmtsolver2 wrote: post #342
danlugo92 wrote: post #285

Earlier quoted context omitted.

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...

False equivalence. Also funnily you left out Europe, why? For instance, you can mock Trump and question the US all day. You can’t do that in China. Even this website is banned in China.

People who've been to China consistently report that you can mock the regime and people do, but in private.

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

#424

Post by tialaramex »

seanp2k2 wrote: post #347
FpUser wrote: post #316

Earlier quoted context omitted.

I would add energy generation to ICE fuel. This is about 84-86% of total I believe

This, and it's murky because a good chunk of that used directly by ICE will move over to power generation to power EVs -- it's not as if we're anywhere close to 100% renewable power even just for EVs here. There's a good EIA graph about halfway down on https://www.weforum.org/stories/climate-action/us-fossil-fue... that breaks it down.

For both transport and home heating you need to remember that the electricity is hugely more efficient in these roles. So not only is some of that electricity from a renewable source, you also need much much less electricity than you did liquid fuel in the first place because it was more efficient.

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

#425

Post by SanjayMehta »

OutOfHere wrote: post #281
SanjayMehta wrote: post #219

Earlier quoted context omitted.

You don't know who is the President of the USA.

And how is that relevant? You have a bad habit of routinely making extremist statements without backing them up. It is not the first time I have seen you do it. The US is not an authoritarian regime. To call it infinitely worse than China in this regard is false, and is a laughable claim. The President will be out in a few years.

This is risible: comparing unpredictability with authoritarianism. Ever heard of apples and oranges?

The US is only predictable in its unnecessary belligerence.

As for the president, who will be out in a few years, thank you for proving my point: the next one will be different. Unpredictable what that fellow will do. At least we know China will be authoritarian.

And as for extremism, let me add the only group more extremist than the US are ISIS and their ilk: "with us or against us," killing civilians without trial (Venezuela most recently), Albright saying on TV that the deaths of "half a million children was worth it." Shouldn't even mention Hiroshima and Nagasaki.

Your actions are extremist and you're offended by mere words?

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

#426

Post by lenerdenator »

pocksuppet wrote: post #423
thesmtsolver2 wrote: post #342

Earlier quoted context omitted.

False equivalence. Also funnily you left out Europe, why? For instance, you can mock Trump and question the US all day. You can’t do that in China. Even this website is banned in China.

People who've been to China consistently report that you can mock the regime and people do, but in private.

So, in a way that will have zero impact on the political course of the nation?

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

#427

Post by throw-the-towel »

tommica wrote: post #89
westpfelia wrote: post #83

Earlier quoted context omitted.

No, and I dont think China wants the Yuan to be the reserve currency. But this is a good step in allowing better currency trading/exchange. Which can make imports between the EU and China cheaper.

For a moment, after that EU will come up with a new regulation / taxation causing everything to become more expensive again.

Will? It's already happening, the EU is putting tariffs on China.

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

#428

Post by [deleted] »

Al-Khwarizmi wrote: post #264
DrBazza wrote: post #230

Earlier quoted context omitted.

I did a lazy ask google, and it thinks less than 3% of crude oil is used for energy. The vast bulk of oil being used: 'transportation (gasoline, diesel, jet fuel), heavy machinery, and non-energy uses like asphalt and plastics rather than power plants'. That is of course, one of the big problems of 'going green' - electricity production is low hanging fruit and understood by the general public. When that's 'solved' (…

Around 50% is used for road transport, though, which is poised to be replaced and was one of the parent poster's main points.

[deleted]

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

#429

Post by thenthenthen »

xingped wrote: post #132
mytailorisrich wrote: post #95

Earlier quoted context omitted.

No there are cents, they are called fen (分). It's in Japan that it's all just Yen.

Yeah, you're right, you just literally never see any transaction using the 0.01 unit (fen) and only very rarely see any transaction use the 0.1 unit (jiao).

Isnt 0.1 one mao?

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

#430

Post by thesmtsolver2 »

pocksuppet wrote: post #423
thesmtsolver2 wrote: post #342

Earlier quoted context omitted.

False equivalence. Also funnily you left out Europe, why? For instance, you can mock Trump and question the US all day. You can’t do that in China. Even this website is banned in China.

People who've been to China consistently report that you can mock the regime and people do, but in private.

> do, but in private.

Yeah, thanks for confirming my point.

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