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Actual for You - Iranian Oil Bourse Could Accelerate Uranium Price Rise
Profit is the main reason why people do business. This fact is no different if you do business online. And with so many competitions in the Internet, everyone should make their own way of getting more attention and be publicized. You also should target the market that perfectly fit your industry.Advertising and promotion play important role in getting this attention from targeted clients. Search engine optimization gains popularity in driving more traffic to a web site. Almost all people now rely on the Internet for information. And if your page rank on top of the others, most likely people will click the very first search that was returned for that information.So that would give you additional targeted visitor with just one search. But what if in that same instance, another 500 persons from around the world are searching for the same information? And if your page return at the top consistently, just imagine how many potential customers are there visiting and getting information from your site!Optimizing your online business will return visibility and success. It is a marketing strategy that would encourage frequent visit to your page. Remember that the key is having keywords that are search engine friendly. Sh
In January, China indicated the country may diversify its foreign exchange reserves, possibly in a controlled diversification process, to prevent a collapse of the U.S. dollar. Director-General of the research bureau for the People’s Bank of China, Tang Xu, recently announced it was “unlikely that China would reduce its current dollar assets to increase the proportion of other assets.” At the same time, he cautioned no one “is willing to put all of their eggs in one basket.” How’s that sound for a mixed message? According to the Xinhua news agency, China now holds $818.9 billion in foreign exchange reserves. London’s Financial Times estimated, “China is now on course to accumulate more than $1,000bn (US$1 trillion) in foreign exchange by the end of this year – a total that would surpass Japan, which had $847bn in reserves at the end of December.”
In all likelihood, Japan, South Korea and Taiwan would also reduce their U.S. dollar holdings to follow China’s lead should they aggressively begin selling. Questions worrying many financial analysts revolve around the condition of the US Dollar. M-3 is in overdrive. Over the past 6 weeks, over $177.8 billion has been added into the U.S. economy. In raw and non-seasonally adjusted numbers, that number is jumped by more than $293 billion, during the past three months. By using the past qua
A brick and mortar business is subject to fluctuations in a local economy. Nothing demonstrates this better then the recent Hurricane Katrina Disaster. All of those store owners, Bar Owners, Restaurant owners and all the rest will be put out of business for a long time. Some may never recover.Perhaps we can all learn a lesson from Cafe Du Monde. They are a landmark in the New Orleans and have been doing business their since 1862. While the store front establishment does a thriving business Cafe Du Monde also operartes a Mail order business as well as an Internet Store front. I have even seen their coffee for sale in local specialty markets as well as other online merchants. Clearly when New Orleans does emerge from this tragedy Cafe Du Monde will once again run a thriving coffee shop.If you currently run a brick and mortar business you need to think about diversifying with an online store front. If your Brick and Mortar Business does not translate well to an online store front you may want to consider starting an online Business as a hedge against future unknowns.Even if you don't own a business and go to a Job every day take a lesson from all those people in New Orleans and the rest of the Gulf Coast D
Some of the pretty ‘out there’ reports have began circulating, throughout 2005, about how it’s the “end of the world as we know it.” A few of the more serious reports suggested the current Iranian uranium enrichment dispute may be a prelude to an invasion of Iran, whether by Israel or the U.S. Top U.S. politicians are not ruling out a military strike against Iran. Both Iran’s Economy Minister, Davoud Danesh-Jafari, and Iran’s current president, Mahmoud Ahmadinejad, have both taunted the U.S. and others about uranium enrichment.
With someone as irascible and impetuous at Iran’s helm, as is the current president, , quite any of his wild notions could quickly become a shocking reality. For example, a few months ago, the Iranian president referred to the Jewish holocaust during WW II as a myth, setting off a global condemnation. Shortly thereafter, Iran announced it was convening a scientific conference to evaluate any evidence supporting the mythical holocaust. Unfortunately, all of this Iranian drama may just be Act One with two or three more to follow. What happens if Iran’s brash actions move the world’s reserve currency from dollars to euros?
The road from dollar to euro may just be another transitory move. As the gold standard fell to the oil standard, the U.S. dollar began replacing gold in the 1970s as the “world’s reserve currency.” For the past thirty years, it’s been earth’s most sought-after currency, as any seasoned tourist knows. And as travelers have come to realize, the dollar’s dominance has weakened over the past few years. Today, the euro is more desirable in many countries where the dollar was once King. As late as a few years ago, Canadians joked about their one-dollar Loonie as the Canadian peso. Not true today. More than a few experts believe the C$ will someday soon trade on par with the USD. Iran’s launch of their Oil Bourse may be the proverbial straw that breaks the camel’s back. What they may now lack, an oil marker found on New York’s Mercantile Exchange and London’s International Petroleum Exchange (IPE), such as West Texas Intermediate, Norway Brent, or UAE Dubai. William Clark, author of Petrodollar Warfare (New Society Publishers, 2005), argued Iran’s new oil exchange would “usher in a fourth crude oil marker.”
If invoicing oil in euros gains momentum, what’s to stop other commodities, such as gold or natural gas, from being priced in euros? If the dollar continues its long-term decline, plunging below its late 2004 nadir, then how little confidence will resource-rich countries have in the fiat dollar? At least one serious expert believes it might make perfectly good sense to price a number of these commodities in Canadian or Australian dollars instead of U.S. dollars.
We talked to Wyoming legislator, former International Atomic Energy Agency consultant and president of Strathmore Minerals (TSX: STM; Other OTC: STHJF) David Miller believes, “A switch out of U.S. dollars would just accelerate the current rise in the price of uranium in terms of U.S. dollars for American utilities, the world’s largest consumers of uranium.” What if Cameco (NYSE: CCJ) decided to price uranium in Canadian dollars? “Cameco’s long-term contracts are coming up for renewals,” explained Miller. “It might make economic sense for Cameco to sell uranium in Canadian dollars, and it’s something they should consider. If the dollar falls hard, it would decrease Cameco’s revenue stream if prices and contracts remain in U.S. dollars.” Miller added, “A lower U.S. dollar would also make U.S.-produced uranium more attractively priced.” A uranium price, which has soared by more than 500 percent, has yet to seriously shake up the mindset of U.S. utilities, even in the context of a rapidly growing uranium supply deficit.
Another worry might now be registering on their radar screens: uranium imports from three of the world largest uranium producers may not be available later this decade. Russia’s hints at expanding their nuclear industry by about 300 percent, as reported by the Moscow Times in an article entitled “Putin Revives Nuclear Alliance” on January 13th, could impact the current supply of uranium to U.S. utilities from Kazakhstan. According to the U.S. Energy Information Administration, Kazakhstan supplied more than 4 million pounds of uranium to U.S. utilities in 2004, nearly 10 percent of all foreign uranium purchased.
If Russia’s nuclear alliance materializes with Kazakhstan and also includes Uzbekistan, U.S. utilities might lose access to about 8 million pounds of uranium annually. Domestically, the U.S. uranium mining industry only supplied 10.2 million pounds to owners of U.S. civilian nuclear power reactors in 2003. Neither Kyrgyzstan nor the Ukraine reported their uranium supply statistics for 2004, but they would reportedly be part of Russian’s new alliance. A year ago, Russian announced a deal to supply Iran with enriched uranium at the $800-million Bushehr nuclear facility being constructed in that country. Russia hopes to construct, over time, up to twenty more nuclear power plants in Iran. Uranium consumption alone by Iran to power those nuclear reactors would exhaust Russia’s current mining production of about 30 million pounds annually. One might wonder if that uranium transaction will be based in euros instead of dollars.
How likely would it be that other commodities might be priced in a currency, other than the U.S. dollar? Austria-based financial analyst Toni Straka, who publishes “The Prudent Investor,” wondered in his article, entitled “Killing the dollar in Iran,” (August 26, 2005; Asia Times) “Could the proposed Iranian oil bourse (IOB) become the catalyst for a significant blow to the influential position the US dollar enjoys?” Straka suggested in that same article, “A decline of the dollar's position in oil trading might also open the floodgates in other commodity markets where the dollar is the medium of exchange but where the US has only a minority market share.”
A cursory study of diverse articles, focused around the IOB, strongly suggest that sometime after March 20th, if Iran does launch their Oil Bourse, the dollar might find itself sinking below its March 2005 low on a course taking it beneath a December 2004 bottom.China’s relationship with Iran may also be alarming for the U.S. dollar in the context of a euro invoicing for oil. In 2004, China became Iran’s top oil customer with the signing of a $100 billion oil pipeline deal. News reports suggest there may be two or more deals to have Iran export to China over 350 million tons of liquefied natural gas and 150,000 barrels of crude oil per day, over a 25-year period. Invoiced in euros, instead of U.S. dollars, purchases of that magnitude could create more than a bit of geopolitical economic friction.
In January, China indicated the country may diversify its foreign exchange reserves, possibly in a controlled diversification process, to prevent a collapse of the U.S. dollar. Director-General of the research bureau for the People’s Bank of China, Tang Xu, recently announced it was “unlikely that China would reduce its current dollar assets to increase the proportion of other assets.” At the same time, he cautioned no one “is willing to put all of their eggs in one basket.” How’s that sound for a mixed message? According to the Xinhua news agency, China now holds $818.9 billion in foreign exchange reserves. London’s Financial Times estimated, “China is now on course to accumulate more than $1,000bn (US$1 trillion) in foreign exchange by the end of this year – a total that would surpass Japan, which had $847bn in reserves at the end of December.”
In all likelihood, Japan, South Korea and Taiwan would also reduce their U.S. dollar holdings to follow China’s lead should they aggressively begin selling. Questions worrying many financial analysts revolve around the condition of the US Dollar. M-3 is in overdrive. Over the past 6 weeks, over $177.8 billion has been added into the U.S. economy. In raw and non-seasonally adjusted numbers, that number is jumped by more than $293 billion, during the past three months. By using the past quar
Managing your network can be one of the most challenging aspects of networking. If you have the drive and put in the appropriate amount of time, it can be very rewarding both personally and professionally.Because it can be difficult to keep in touch with your network on a regular basis, you need to be creative and keep in front of your contacts. Some relationships will be easier to maintain than others.You need to figure out how much effort you want to put forth with certain people versus your entire network.Keep Good Notes About PeopleOne of the first things you need to do when you meet people is to take good notes after your conversations. On the back of a business card, write down important information about people’s careers and their personal lives.Information to remember could include job description, past employers, college attended, city of birth and birthday. The more you remember, the more you have to record about a person. This can help you stay in touch with an individual.After you take notes on a business card, you should immediately transfer this information into a contact management system such as Palm, Act or Goldmine. Whatever system you decide to use, it’s important
The road from dollar to euro may just be another transitory move. As the gold standard fell to the oil standard, the U.S. dollar began replacing gold in the 1970s as the “world’s reserve currency.” For the past thirty years, it’s been earth’s most sought-after currency, as any seasoned tourist knows. And as travelers have come to realize, the dollar’s dominance has weakened over the past few years. Today, the euro is more desirable in many countries where the dollar was once King. As late as a few years ago, Canadians joked about their one-dollar Loonie as the Canadian peso. Not true today. More than a few experts believe the C$ will someday soon trade on par with the USD. Iran’s launch of their Oil Bourse may be the proverbial straw that breaks the camel’s back. What they may now lack, an oil marker found on New York’s Mercantile Exchange and London’s International Petroleum Exchange (IPE), such as West Texas Intermediate, Norway Brent, or UAE Dubai. William Clark, author of Petrodollar Warfare (New Society Publishers, 2005), argued Iran’s new oil exchange would “usher in a fourth crude oil marker.”
If invoicing oil in euros gains momentum, what’s to stop other commodities, such as gold or natural gas, from being priced in euros? If the dollar continues its long-term decline, plunging below its late 2004 nadir, then how little confidence will resource-rich countries have in the fiat dollar? At least one serious expert believes it might make perfectly good sense to price a number of these commodities in Canadian or Australian dollars instead of U.S. dollars.
We talked to Wyoming legislator, former International Atomic Energy Agency consultant and president of Strathmore Minerals (TSX: STM; Other OTC: STHJF) David Miller believes, “A switch out of U.S. dollars would just accelerate the current rise in the price of uranium in terms of U.S. dollars for American utilities, the world’s largest consumers of uranium.” What if Cameco (NYSE: CCJ) decided to price uranium in Canadian dollars? “Cameco’s long-term contracts are coming up for renewals,” explained Miller. “It might make economic sense for Cameco to sell uranium in Canadian dollars, and it’s something they should consider. If the dollar falls hard, it would decrease Cameco’s revenue stream if prices and contracts remain in U.S. dollars.” Miller added, “A lower U.S. dollar would also make U.S.-produced uranium more attractively priced.” A uranium price, which has soared by more than 500 percent, has yet to seriously shake up the mindset of U.S. utilities, even in the context of a rapidly growing uranium supply deficit.
Another worry might now be registering on their radar screens: uranium imports from three of the world largest uranium producers may not be available later this decade. Russia’s hints at expanding their nuclear industry by about 300 percent, as reported by the Moscow Times in an article entitled “Putin Revives Nuclear Alliance” on January 13th, could impact the current supply of uranium to U.S. utilities from Kazakhstan. According to the U.S. Energy Information Administration, Kazakhstan supplied more than 4 million pounds of uranium to U.S. utilities in 2004, nearly 10 percent of all foreign uranium purchased.
If Russia’s nuclear alliance materializes with Kazakhstan and also includes Uzbekistan, U.S. utilities might lose access to about 8 million pounds of uranium annually. Domestically, the U.S. uranium mining industry only supplied 10.2 million pounds to owners of U.S. civilian nuclear power reactors in 2003. Neither Kyrgyzstan nor the Ukraine reported their uranium supply statistics for 2004, but they would reportedly be part of Russian’s new alliance. A year ago, Russian announced a deal to supply Iran with enriched uranium at the $800-million Bushehr nuclear facility being constructed in that country. Russia hopes to construct, over time, up to twenty more nuclear power plants in Iran. Uranium consumption alone by Iran to power those nuclear reactors would exhaust Russia’s current mining production of about 30 million pounds annually. One might wonder if that uranium transaction will be based in euros instead of dollars.
How likely would it be that other commodities might be priced in a currency, other than the U.S. dollar? Austria-based financial analyst Toni Straka, who publishes “The Prudent Investor,” wondered in his article, entitled “Killing the dollar in Iran,” (August 26, 2005; Asia Times) “Could the proposed Iranian oil bourse (IOB) become the catalyst for a significant blow to the influential position the US dollar enjoys?” Straka suggested in that same article, “A decline of the dollar's position in oil trading might also open the floodgates in other commodity markets where the dollar is the medium of exchange but where the US has only a minority market share.”
A cursory study of diverse articles, focused around the IOB, strongly suggest that sometime after March 20th, if Iran does launch their Oil Bourse, the dollar might find itself sinking below its March 2005 low on a course taking it beneath a December 2004 bottom.China’s relationship with Iran may also be alarming for the U.S. dollar in the context of a euro invoicing for oil. In 2004, China became Iran’s top oil customer with the signing of a $100 billion oil pipeline deal. News reports suggest there may be two or more deals to have Iran export to China over 350 million tons of liquefied natural gas and 150,000 barrels of crude oil per day, over a 25-year period. Invoiced in euros, instead of U.S. dollars, purchases of that magnitude could create more than a bit of geopolitical economic friction.
In January, China indicated the country may diversify its foreign exchange reserves, possibly in a controlled diversification process, to prevent a collapse of the U.S. dollar. Director-General of the research bureau for the People’s Bank of China, Tang Xu, recently announced it was “unlikely that China would reduce its current dollar assets to increase the proportion of other assets.” At the same time, he cautioned no one “is willing to put all of their eggs in one basket.” How’s that sound for a mixed message? According to the Xinhua news agency, China now holds $818.9 billion in foreign exchange reserves. London’s Financial Times estimated, “China is now on course to accumulate more than $1,000bn (US$1 trillion) in foreign exchange by the end of this year – a total that would surpass Japan, which had $847bn in reserves at the end of December.”
In all likelihood, Japan, South Korea and Taiwan would also reduce their U.S. dollar holdings to follow China’s lead should they aggressively begin selling. Questions worrying many financial analysts revolve around the condition of the US Dollar. M-3 is in overdrive. Over the past 6 weeks, over $177.8 billion has been added into the U.S. economy. In raw and non-seasonally adjusted numbers, that number is jumped by more than $293 billion, during the past three months. By using the past qua
One of the easiest and quickest way to start making money online is by becoming an affiliate but before you start investing your time and money here are some important questions that you need to find the answers for to save you alot of frustrations afterwards.1. How do they notify you if a sale is made?2. Does the affiliate program offer you a free way to join without buying the product or service?3. Is the product or service related to your target audience?4. Contact other affiliates already in the program to see if they have had any problems.5. Do they offer backend products so you can get repeat sales from the same person?6. How often will you receive a commission check?7. Do you get credited for a sale if people come back in month and then make a purchase?8. Do they provide you with proven sales material? (links, banners, classified ads, sales letters etc)9. Will they give you the leeway to create promotional ads or other creative ideas?10. Do they offer you access to an online sales stats page?11. Do they use a reputable system to track your sales?12. Does the affiliate program pay commission for sales of people who sign up under you?
Another worry might now be registering on their radar screens: uranium imports from three of the world largest uranium producers may not be available later this decade. Russia’s hints at expanding their nuclear industry by about 300 percent, as reported by the Moscow Times in an article entitled “Putin Revives Nuclear Alliance” on January 13th, could impact the current supply of uranium to U.S. utilities from Kazakhstan. According to the U.S. Energy Information Administration, Kazakhstan supplied more than 4 million pounds of uranium to U.S. utilities in 2004, nearly 10 percent of all foreign uranium purchased.
If Russia’s nuclear alliance materializes with Kazakhstan and also includes Uzbekistan, U.S. utilities might lose access to about 8 million pounds of uranium annually. Domestically, the U.S. uranium mining industry only supplied 10.2 million pounds to owners of U.S. civilian nuclear power reactors in 2003. Neither Kyrgyzstan nor the Ukraine reported their uranium supply statistics for 2004, but they would reportedly be part of Russian’s new alliance. A year ago, Russian announced a deal to supply Iran with enriched uranium at the $800-million Bushehr nuclear facility being constructed in that country. Russia hopes to construct, over time, up to twenty more nuclear power plants in Iran. Uranium consumption alone by Iran to power those nuclear reactors would exhaust Russia’s current mining production of about 30 million pounds annually. One might wonder if that uranium transaction will be based in euros instead of dollars.
How likely would it be that other commodities might be priced in a currency, other than the U.S. dollar? Austria-based financial analyst Toni Straka, who publishes “The Prudent Investor,” wondered in his article, entitled “Killing the dollar in Iran,” (August 26, 2005; Asia Times) “Could the proposed Iranian oil bourse (IOB) become the catalyst for a significant blow to the influential position the US dollar enjoys?” Straka suggested in that same article, “A decline of the dollar's position in oil trading might also open the floodgates in other commodity markets where the dollar is the medium of exchange but where the US has only a minority market share.”
A cursory study of diverse articles, focused around the IOB, strongly suggest that sometime after March 20th, if Iran does launch their Oil Bourse, the dollar might find itself sinking below its March 2005 low on a course taking it beneath a December 2004 bottom.China’s relationship with Iran may also be alarming for the U.S. dollar in the context of a euro invoicing for oil. In 2004, China became Iran’s top oil customer with the signing of a $100 billion oil pipeline deal. News reports suggest there may be two or more deals to have Iran export to China over 350 million tons of liquefied natural gas and 150,000 barrels of crude oil per day, over a 25-year period. Invoiced in euros, instead of U.S. dollars, purchases of that magnitude could create more than a bit of geopolitical economic friction.
In January, China indicated the country may diversify its foreign exchange reserves, possibly in a controlled diversification process, to prevent a collapse of the U.S. dollar. Director-General of the research bureau for the People’s Bank of China, Tang Xu, recently announced it was “unlikely that China would reduce its current dollar assets to increase the proportion of other assets.” At the same time, he cautioned no one “is willing to put all of their eggs in one basket.” How’s that sound for a mixed message? According to the Xinhua news agency, China now holds $818.9 billion in foreign exchange reserves. London’s Financial Times estimated, “China is now on course to accumulate more than $1,000bn (US$1 trillion) in foreign exchange by the end of this year – a total that would surpass Japan, which had $847bn in reserves at the end of December.”
In all likelihood, Japan, South Korea and Taiwan would also reduce their U.S. dollar holdings to follow China’s lead should they aggressively begin selling. Questions worrying many financial analysts revolve around the condition of the US Dollar. M-3 is in overdrive. Over the past 6 weeks, over $177.8 billion has been added into the U.S. economy. In raw and non-seasonally adjusted numbers, that number is jumped by more than $293 billion, during the past three months. By using the past qua
Recently, in cotton and cotton industries, the highest frequency of appearance may be the US Cotton Association International and the African cotton.When people open textile media, in cotton and cotton textile sectors, they often see the coverage of US cotton and African cotton. People are concerned largely about the recent activities of the US Cotton Association International in China, while African cotton comes into people's vision due to the grand opening of the China-Africa Cooperation Forum.When these excitements gradually retreated into quietness, people should embark on some consideration.US Cotton Marketing InspirationUS cotton merchants and US Cotton Association International have taken great pains to explore Chinese market, as China is the largest market to US cotton.US cotton has its advantage in price and quality, so it has won the favor of many textile enterprises.However, with the further opening of Chinese market, Australia and other countries and regions have entered China's cotton market. The market share of US cotton imports in China dropped to 45 percent from 50 percent in 2005-2006.Faced with this development trend and the rapid growth of China's cotton textile ca
How likely would it be that other commodities might be priced in a currency, other than the U.S. dollar? Austria-based financial analyst Toni Straka, who publishes “The Prudent Investor,” wondered in his article, entitled “Killing the dollar in Iran,” (August 26, 2005; Asia Times) “Could the proposed Iranian oil bourse (IOB) become the catalyst for a significant blow to the influential position the US dollar enjoys?” Straka suggested in that same article, “A decline of the dollar's position in oil trading might also open the floodgates in other commodity markets where the dollar is the medium of exchange but where the US has only a minority market share.”
A cursory study of diverse articles, focused around the IOB, strongly suggest that sometime after March 20th, if Iran does launch their Oil Bourse, the dollar might find itself sinking below its March 2005 low on a course taking it beneath a December 2004 bottom.China’s relationship with Iran may also be alarming for the U.S. dollar in the context of a euro invoicing for oil. In 2004, China became Iran’s top oil customer with the signing of a $100 billion oil pipeline deal. News reports suggest there may be two or more deals to have Iran export to China over 350 million tons of liquefied natural gas and 150,000 barrels of crude oil per day, over a 25-year period. Invoiced in euros, instead of U.S. dollars, purchases of that magnitude could create more than a bit of geopolitical economic friction.
In January, China indicated the country may diversify its foreign exchange reserves, possibly in a controlled diversification process, to prevent a collapse of the U.S. dollar. Director-General of the research bureau for the People’s Bank of China, Tang Xu, recently announced it was “unlikely that China would reduce its current dollar assets to increase the proportion of other assets.” At the same time, he cautioned no one “is willing to put all of their eggs in one basket.” How’s that sound for a mixed message? According to the Xinhua news agency, China now holds $818.9 billion in foreign exchange reserves. London’s Financial Times estimated, “China is now on course to accumulate more than $1,000bn (US$1 trillion) in foreign exchange by the end of this year – a total that would surpass Japan, which had $847bn in reserves at the end of December.”
In all likelihood, Japan, South Korea and Taiwan would also reduce their U.S. dollar holdings to follow China’s lead should they aggressively begin selling. Questions worrying many financial analysts revolve around the condition of the US Dollar. M-3 is in overdrive. Over the past 6 weeks, over $177.8 billion has been added into the U.S. economy. In raw and non-seasonally adjusted numbers, that number is jumped by more than $293 billion, during the past three months. By using the past qua
With search engine algorithms becoming more and more complex you have to wonder at what point it will actually begin to harm to relevance of the results.I've always been a simple guy. To me the less moving parts in something the better. It doesn't matter whether it's a piece of software or an SUV to me. I like things simple. I also am a fervent believer in math. I've always thought that complex systems in software could be replaced by sweet little algorithms that look like they're doing the same thing but are actually taking some shortcuts based on math and data.When I look at search engines though I begin to see the limits of my perceptions approaching. I don't know if it's just the way it has to be or maybe some are just getting ahead of themselves. As of late my favorite search engine is beggining to shift from the emporer of all search engines to a supposed lesser entity.My question then. Is it possible that a search engines method of crawling and ranking pages could get so incredibly complex that it begins to backslide from among the ranks of the elite?I am starting to believe this is true, though I hate to say it. Search engines have alot to put up with these days. People are always trying to opti
In January, China indicated the country may diversify its foreign exchange reserves, possibly in a controlled diversification process, to prevent a collapse of the U.S. dollar. Director-General of the research bureau for the People’s Bank of China, Tang Xu, recently announced it was “unlikely that China would reduce its current dollar assets to increase the proportion of other assets.” At the same time, he cautioned no one “is willing to put all of their eggs in one basket.” How’s that sound for a mixed message? According to the Xinhua news agency, China now holds $818.9 billion in foreign exchange reserves. London’s Financial Times estimated, “China is now on course to accumulate more than $1,000bn (US$1 trillion) in foreign exchange by the end of this year – a total that would surpass Japan, which had $847bn in reserves at the end of December.”
In all likelihood, Japan, South Korea and Taiwan would also reduce their U.S. dollar holdings to follow China’s lead should they aggressively begin selling. Questions worrying many financial analysts revolve around the condition of the US Dollar. M-3 is in overdrive. Over the past 6 weeks, over $177.8 billion has been added into the U.S. economy. In raw and non-seasonally adjusted numbers, that number is jumped by more than $293 billion, during the past three months. By using the past quarter as a benchmark, M3 is on a pace to add $1.2 trillion of stimulation flooding into the economy in a twelve-month period.
Bearish currency speculators argue the current petrodollar system unfairly benefits the U.S. and often describe how the U.S. continues to print greenbacks without exporting commodities or manufactured goods, by paying for them with issuance of more dollars and Treasuries. As the argument goes, the U.S. controls the world oil market through the dollar. An exodus from dollars, perhaps even its loss as the world’s reserve currency, would certainly provide a turbulent market scenario for oil speculators. That would very likely spill over into other commodity markets. As David Miller has suggested, it could very well accelerate the price rise of spot uranium. Since originally writing this article, spot uranium prices have soared above $40/pound and show no end to their current rocket ride.
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