China trying to benefit from US withdraw of Paris accord, while also working to eliminate the ‘petrodollar’

The Associated Press reported the following:

June 2, 2017

BEIJING (AP) — By backing off the U.S. commitment to address climate change, President Donald Trump leaves an opening for a chief economic rival, China, to expand its increasing dominance in the renewable energy industry. In reacting to Trump’s announcement that he was withdrawing the U.S. from the Paris climate accord, China reaffirmed its commitment to the landmark agreement and is poised to spend heavily in coming years on renewables.

Yet the world’s most populous country remains heavily reliant on coal to generate electricity and power its steel mills – a habit that could be hard to break without stifling its economic aspirations. …

In January, China announced the suspension or cancellation of plans to build an additional 100 coal-fueled power plants. Yet dozens more are still expected to be built and China’s also bankrolling plants in other countries. It’s by far the largest consumer of coal worldwide, producing 3.41 billion tons of the fuel last year – more than four times the volume in the U.S., the second largest coal consumer. Largely as a result, China is also the top emitter of greenhouse gasses blamed for worsening climate change. http://hosted.ap.org/dynamic/stories/A/AS_AP_EXPLAINS_CHINA_CLIMATE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2017-06-02-08-52-14

June 2, 2017

Anticipating a possible U.S. pullout, officials from China and the European Union – two of the world’s major polluters – had prepared a declaration reaffirming their commitment to the 2015 Paris Agreement, which is widely considered a landmark deal for bringing together almost all countries under a common goal.

Climate issues were expected to dominate discussions Friday between Chinese Premier Li Keqiang, who is leading a large delegation of ministers to Brussels, and EU Council President Donald Tusk and European Commission President Jean-Claude Juncker.

Speaking to European business leaders alongside Li, Juncker said EU-China ties are underpinned by “a rules-based international system.”

Brussels and Beijing believe in “the full implementation, without nuances, of the Paris climate agreement,” Juncker said, and underlined that there can be “no backsliding.”

European heavyweights France, Germany and Italy said in a joint statement on Thursday that they regretted Trump’s decision to withdraw from the accord, while affirming their “strongest commitment” to implement its measures. http://hosted.ap.org/dynamic/stories/E/EU_CLIMATE_GLOBAL_REACTION?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2017-06-02-08-30-20

Both Europe and China want to dominate the world. Currently, on certain matters, they are working together and with other countries, to dethrone the dominance of the USA and its Anglo-Saxon descended allies, like the UK.

As far as the Paris accord goes, many in the mainstream media are pushing the idea that China wants to lead the world in ‘clean’ energy and wants what is best for the environment. And while China certainly would like to dominate more industries and be less polluted, notice also the following:

China is currently modifying the terms of its oil trade with Saudi Arabia. Specifically, China is working on a deal to pay for Saudi oil using Chinese yuan. This effort poses a direct threat to the security of the dollar.

If this China-Saudi deal happens — yuan for oil — it’s another step closer to the grave for the petrodollar, which has dominated global finance since 1974. You can revisit Jim Rickards article about the Assault on the Dollar, here.

To recap, the petrodollar is weakening because the dollar is losing power as the world’s reserve currency. This is similar to the way pounds sterling gradually fell out of favor during the decline of the British Empire. The decline may take a long time, but what we’re seeing today is another step in the death march of the dollar.

Since 1974, Saudi has accepted payment for almost all of its oil exports — to all countries — in dollars. This is due to an agreement between Saudi and the U.S., dating back to the days of President Nixon.

Beginning about 15 years ago, China ceased being self-sufficient in oil, and began buying Saudi oil. As per all Saudi customers, China had to pay in dollars. Even today, China still pays for Saudi oil in U.S. dollars and not yuan, which perturbs China’s leaders.

Since 2010, China’s total oil imports have nearly doubled. According to Bloomberg News, China has surpassed the U.S. as the world’s largest oil importing nation. …

If Saudi begins accepting yuan for oil, all bets are off on the petrodollar. Yuan-for-oil will entirely change the monetary dynamics of global energy flows. I expect the U.S. dollar to weaken severely when that news breaks.

Much of this oil-for-yuan news is public information. Yet, for some strange reason, there’s a form of blindness within western policymaking and media circles concerning the implications of yuan-for-oil. The idea is so “off-the-wall” that many policy leaders simply ignore it. http://www.zerohedge.com/news/2017-06-01/chinas-next-step-destroy-dollar

What is the petrodollar?

Essentially, it is the fact that although the US dollar is no longer backed by gold, since most oil is priced in US dollars, that gives the US dollar a backing in through a needed commodity, hence always insuring that the US dollar will have value. So it is sometimes called a petrodollar–which is broader than the term’s original intent.

Here is more about that:

After the collapse of the Bretton Woods gold standard in the early 1970s, the U.S. struck a deal with Saudi Arabia to standardize oil prices in dollar terms. Through this deal, the petrodollar system was born, along with a paradigm shift away from pegged exchanged rates and gold-backed currencies to non-backed, floating rate regimes.

The petrodollar system elevated the U.S. dollar to the world’s reserve currency and through this status, the U.S. is able to enjoy persistent trade deficits, and become a global economic hegemony. The petrodollar system also provides the United States’ financial markets with a source of liquidity and foreign capital inflows through petrodollar “recycling.” However, before the effects of the petrodollars on the U.S. dollar can be examined, a brief history lesson is in order. …

Since the most sought after commodity in the world–oil–is priced in U.S. dollars, the petrodollar helped elevated the greenback as the world’s dominant currency. In fact, according to the Bank for International Settlements (BIS) triennial survey, 87 percent of all foreign exchanges deals initiated in April 2013, involved the USD on one side. With this status, the U.S. dollar was able to enjoy, what some have asserted to be an “exorbitant privilege” of perpetually financing its current account deficit by issuing dollar denominated assets at very low rates of interest, as well as, becoming a global economic hegemony.

For instance, countries like China, who hold vast quantities of U.S. debt have voiced their concerns in the past about the possible dilutive effects to their asset holdings should the dollar depreciate. However, the privileges associated with being able to run persistent current account deficits come at a price. As the reserve currency, the U.S. is obligated to run these deficits to fulfill reserve requirements in an ever in an ever-expanding global economy. If the United States were to stop running these deficits, the resulting shortage of liquidity can pull the world into an economic contraction. However, if the persistent deficits continued ad infinitum, eventually foreign countries will begin to doubt the valuation of the dollar and the greenback may lose its role as the reserve currency; this is known as the Triffin Dilemma. http://www.investopedia.com/articles/forex/072915/how-petrodollars-affect-us-dollar.asp#ixzz4iqqtZ9CU accessed 06/02/17

If enough oil producing nations stop pricing oil in US dollars, the theory is that the US dollar will drop, or even collapse.

Someone said this could happen as early as 2015:

Market Collapse then New World Order in 2015? A long-time financial adviser named Harvey Organ claims that claims that because of insufficient gold in the central banks of USA and UK, that Shanghai would bring about exposing this and that this would lead to a massive, overnight, rise in the price of gold and silver, diminished value of their currencies. He states a market collapse will occur before the end of 2014, that the petroyuan will replace the petrodollar, and that a Chinese led New World Order will be in place for 2015. Is this possible? Where does the leader of the ‘New World Order’ come from? What does the Bible teach? This is a video.

Although I did not believe such a collapse could have happened in 2015 (nor do I believe such for 2017), the reality is that the Bible tells of a time when the US will be taken over (Daniel 11:39) and its massive debts will be a reason that many will be opposed to it (cf. Habakkuk 2:2-8).

The existence of the ‘petrodollar’ seems to have helped the USA be in a position to increase its debt and that will not end well (cf. Habakkuk 2:2-8; Daniel 11:39).

As far as China goes, it wants more world influence and ultimately domination (watch Is China paving roads to Armageddon?), but the Bible shows that while China will be prosperous for a time, it will be a power from Europe that will essentially dominate the world for the last 3 1/2 years before Jesus returns.

The Bible also shows that neither China nor Europe will solve the environmental problems facing the world as it teaches it will take the return of Jesus to do this (see also The Bible, Christians, and the Environment).

Some items of possibly related interest may include:

America’s Day of Reckoning 2017 Dollar Collapse? Economist James Dale Davidson says that a financial bloodbath will hit the USA and there is nothing that Washington can do to stop it. He claims that at least 57 nations have gotten together to dethrone the US dollar as the world’s reserve currency. He claims this can happen any day or in a few months. He mentions China, Russia, the AIIB, and gold. He claims his track record in predicting massive shifts in the past should assure people that he is right about this. He claims that there will be massive unemployment, near elimination of social security benefits, and more. In a post he sent me a link to July 13, 2016, James Dale Davidson wrote, “During the next six months, you will see the stock market plummet by at least 50%, real estate will drop 40%, savings accounts will lose 30%, and unemployment will triple. It’s already starting to unfold.” Is James Dale Davidson possibly right on any of this? Dr. Thiel goes over many of his claims and explains what the Bible shows related to the coming collapse of the US dollar. This is a video.
Can the Bilderberg Group Affect 2017 and Beyond? The infamous Bilderberg Group met in Dresden, Germany from June 9-12 in 2016. This super-secretive group has been meeting since 1954 and has admitted to some subjects it would cover, but blocked out cell phone reception and forbid coverage of the discussions by the media. This is considered THE meeting to be part of for the elites who are working for a global-type of government. It is by invitation only. They are working towards their version of the New World Order as opposed to the good news of the Kingdom of God. At least one top leader apparently attended to try to get the Bilderberg Group’s support for a bid to become the next Secretary-General of the United Nations to replace Ban ki-Moon, whose term ends 31 December 2016. Dr. Thiel explains some of what is going on in the light of end-time biblical prophecies in this video.
Cashless society in 2016? Is the world moving towards a cashless society? What are some of the advantages and some of the problems associated with a cashless society? Are there governments planning on implementing steps in 2016 that are encouraging a cashless society? Is the United Nations pushing for this? What about the Bilderberg Group? Are there steps in Europe, Africa, Asia, Australia, Latin America, and North America being taken to move towards cashlessness? Does the Bible tell of a European power that intends to control buying and selling? This is a video.
Eliminate the $100 bill? Various ones, like Harvard economist and Trilateralist Larry Summers have called for the elimination of the USD$100 bill and the 500 Euro note. In Asia, South Korea is heading towards cashlessness by 2020. Electronic currencies are information and subject to monitoring. Did something God inspired the Apostle John over 1900 years ago now able to come to pass? This is a video.
Collapse of the Euro and Dollar? War in 2020? Larry Edelson of Money and Markets described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the ‘granddaddy of all cycles”? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
When Will the Great Tribulation Begin? 2017, 2018, or 2019? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Will the Great Tribulation Start in 2017?
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? What about WWIV? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2026 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Are You Being Called by God? Norman Shoaf wrote various points to consider.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
Can those in the USA/UK see the Handwriting on the Wall? Is everything fine in the USA/UK or is it like the days of Noah? Can we learn from the handwriting that appeared on a wall thousands of years ago? Here is a link to a related YouTube video Can you see the ‘Handwriting on the Wall’?
United Nations: Humankind’s Last Hope or New World Order? Is the UN the last hope for humanity? Or might its goals end up with sinister results? Two related videos include UN’s ‘New Universal Agenda’ is a False Gospel! and United Nations and Vatican Are Planning the New World Order.
Laudato Si: Pope’s Agenda or Kingdom of God? Pope Francis’ 2nd encyclical is titled ‘Laudato Si.’ In it, he goes over his views related to environmental, economic, social, moral, agricultural, and spiritual issues. He advocates international cooperation to solve various problems he believes are affecting humanity. Is that Pope’s agenda the solution? What about the Kingdom of God? does the Bible teach? Two related articles include Laudato Si: Will Pope Francis’ economic actions match his words? and Laudato Si: A call for a one-world government?
The Bible, Christians, and the Environment How should Christians view the environment? Does the Bible give any clues? What are some of the effects of air, water, and land pollution? Is environmental pollution a factor in autism and death? Do pollutants seem to double the autism risk? What will Jesus do? Here is a link to a related sermon: Christians and the Environment (there is also YouTube video available titled Air Pollution, Autism, and Prophecy).
The Bible, Christians, and the Environment How should Christians view the environment? Does the Bible give any clues? What are some of the effects of air, water, and land pollution? Is environmental pollution a factor in autism and death? Do pollutants seem to double the autism risk? What will Jesus do? A YouTube video is available titled Air Pollution, Autism, and Prophecy.
Weather Blessings and Sorrows Are weather problems a warning? What should be done? What does the Bible teach about weather? What about floods, droughts, heat, earthquakes, tornadoes, and solar storms? Here is a related YouTube video Does God Use Weather? A related item in the Spanish language would be Bendiciones y maldiciones del clima.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? A YouTube video of interest may be Is China THE Threat to the United States of America?
When Will the Great Tribulation Begin? 2017, 2018, or 2019? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Will the Great Tribulation Start in 2017?
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Could a Donald Trump presidency be apocalyptic? A related video is titled: Donald: ‘Trump of God’ or Apocalyptic?
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.
Donald Trump and America’s Apocalypse This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America’s Apocalypse.
Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Donald Trump and America’s Apocalypse-Kindle Edition.