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Chinese Oil Credits Explained by DC
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Chinese Oil Credits Explained by DC
DC: How do oil credits work and why is China buying them? Part of the way to work this economic model is to give oil credits where they position themselves to buy oil from Iraq with discounted dollars. It’s like they have discount coupons to buy oil at $32 per barrel, and they will then allow countries to buy these coupons or oil credits, and they can pull some of them off the market over the next 30 years by exchanging them for dinars. It’s gradual as their production increases. That is why countries like China are so eager to exchange for dinars, because they only produce a quarter of their own oil. They have the money and they will buy all the discounted oil credits they can. That’s why the contract rates are so high, because we are selling them to China for oil credits.
Ssmith- GURU HUNTER
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Re: Chinese Oil Credits Explained by DC
This is IMO one of their best lies. It sounds reasonable, even seems like a good idea. But I chalange yo to find one reference to their existence outside of guru sites.
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Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
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Re: Chinese Oil Credits Explained by DC
ssmith wrote:DC: How do oil credits work and why is China buying them? Part of the way to work this economic model is to give oil credits where they position themselves to buy oil from Iraq with discounted dollars. It’s like they have discount coupons to buy oil at $32 per barrel, and they will then allow countries to buy these coupons or oil credits, and they can pull some of them off the market over the next 30 years by exchanging them for dinars. It’s gradual as their production increases. That is why countries like China are so eager to exchange for dinars, because they only produce a quarter of their own oil. They have the money and they will buy all the discounted oil credits they can. That’s why the contract rates are so high, because we are selling them to China for oil credits.
Absolutely absurd. Think of the mechanics here. Iraq "sold" you a 25,000 dinar note for about 21 dollars. Now they want it back and are going to give you 800,000 dollars worth of oil for it? Oh, except they have to "discount" the oil otherwise why wouldn't China just buy the oil with the massive amount of USD they have, so I guess maybe 1,000,000 or 1,200,000 dollars worth of oil.
Doing this, Iraqs oils supply would be constantly decreasing and the amount of dinar inside Iraq would be constantly increasing. Which spells MASSIVE hyperinflation.
They don't want the dinar they sold you back, period. Let alone so much they'd pay a fortune for them. The best thing for Iraq financially would be if they never saw a single one of the dinar they exported ever again.
FS4Enthusiast- VIP Member
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Re: Chinese Oil Credits Explained by DC
Technically speaking most of what China holds is UST bonds. They hold somewhere around 8% or 1T, Japan holds about the same, but most (69%) are held in the US, mostly either by various federal government agencies (13%) or by various retirement and corporate accounts (56%).
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
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Re: Chinese Oil Credits Explained by DC
the tnt bunch, IMHO, have gone full retard
alfred e. neuman- New Member
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