Comments by "AQuietNight" (@AQuietNight) on "Sean Foo" channel.

  1.  @Esperalzi-Esfaral  The idea is you want to make money insuring ships because you make money on it. So you always need business. The last thing you want to be is the guy who insured a fully loaded oil tanker that may blow up in a harbor destroying the ship, destroying many buildings and possibly killing thousands of people. You are looking at a gigantic insurance payout. It is not unreasonable to say Russia ships or ships carrying Russian oil carry a higher risk of being damaged or sunk. Russian ships can be insured by the insurers but they are reducing their payout liability. Remember, Russia did not have to start this war, they chose to do it. Always keep that in mind, Russia DID NOT have to start this war.
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  2.  @Emphasis213  Come rain or shine, gold is always in demand. Copper, mmmm...not always. Diamond can be replicated by industrial process. Bananas spoil too fast.
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  3. China is drilling for oil more aggressively. They have had some success and every success gives them distance from Russian and Saudi oil.
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  4. The Chinese economy is slowing, they are already printing money. China also has two other problems: They are playing Santa Claus to the Third World while dealing with a world economy their friend without limits helps to implode. Russia fights a war but the Chinese economy will pay for it with loss in product sales worldwide. Going around the world promising this country a new railroad here, a expressway there all drains money out the economy. There is a make work effect but if these recipient countries can't make the payments, that has to come of of China's treasury. A huge investment that may not pay off for China for decades. Add the cost of a slow housing market and growing unemployment and I am sure the Chinese Treasury would sell off the U.S. Treasury notes to pump that money back into the economy. I doubt the Chinese are buying much gold. In a brief moment of honesty Li Keqiang once said we have no idea how big our debt is. That was probably the moment Xi Jinping put Li Keqiang on the up for retirement list. I could see the oil producers in the Mideast loading up on gold. They have the cash for it.
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  5. Japan was sitting on the Yen, keeping it below the market rate. After the value of the Yen was increased, the economy still did very well.
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  6. A pleasant little metal that doesn't excite people due to it's lack of mystique.
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  7. The U.S. dollar dropping long term would be better for Americans than a rising ruble will be for Russians.
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  8.  @annapikina288  It is all speculation. The Chinese selling off U.S. Treasury bonds maybe an indication the Chinese government needs money to pay it's bills due to the economy slowing down. A rising Russian ruble would be short term because the only thing Russia has to sell is oil. There have been announcements of large oil reserves around the world shows Russia will have to compete hard to sell it's oil in the future.
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  9. Putin essentially made Russia a vassal state of China. It's the Chinese that keep the lights on in Moscow now.
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  10. If a war between China and India breaks out, who would Russia back?
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  11. The only thing that would make BRICS bucks worthwhile is gold backing. Commodities change in value based on demand where gold is relatively stable. The problem with gold is it's great while you run up trade surpluses, but hell when you run up trade deficits. In the case of China right now they are pulling in money from trade but I am sure they know in the future nationalism and regionalism will push the creation of industry in developing countries which reduce the demand for Chinese made goods. This will cause an outflow of gold reducing the value of BRICS bucks for China. The basket of commodities probably won't work over the long term as the value of oil, iron ore and copper change. A country selling copper ore may not want to be tied to a country exporting oil if the price of oil drops due to new oil fields opening up. And there is still large reserves to be tapped.
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  12. Using gold is an inflexible system. You can print only the same amount of money as you have in gold reserves. Gold is $1795/oz now. That means the U.S. can only print $1795 in dollars. China can only print the equivalent in Yuan. This restricts economic growth. To make such a system work today governments will have to set the price of gold so there is enough gold available to allow international commerce. Would gold end up being $20,000 an oz? Even higher? For those who bought gold at $1795/oz, they would make a killing if such a conversion were to happen. Governments would just rather print unbacked currency. The U.S. used to print currency in gold certificates and silver certificates. This was a way to get around the restrictions of using the gold standard.
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  13. Did a weak Yen or a weak Yuan hurt Japan and China?
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  14. The 7 billion is being held until the lawsuits over 9/11//2001 are finished.
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  15. Japan today shows what China will look like 30 years from now. Japan's ax in the world was it's ability to produce sophisticated products at a lower price. Then China moved in. China is working to be the place that builds sophisticated products at a lower price. Now other countries are starting to travel the same road China is traveling. The United States and Europe are dealing with shrinkage too. The world will have over capacity and not enough consumers to buy the output.
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  16. In Asia you can have 2 countries threatening war with each other while signing new trade deals with each other at the same time.
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  17. More like China see's the world as a place to extract resources, much like the old colonial powers. The whole BRI thing was designed to bring in raw materials and spit out manufactured goods. Africa gets low value buys while China returns high value finished goods.
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  18. Saudi Arabia just signed a new defense agreement with the U.S.
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  19. Russia can have all the gold it wants, Russia only has wheat and oil to sell.
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  20. NATO is protecting a friendly country. Russia invading Ukraine is unforgiveable.
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  21.  @jamesdoe3713  Did Ukraine invade Russia or did Russia invade Ukraine?
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  22.  @hanmi1216  China could do the same for Siberia. As for native Americans, no one cares. Some other country would move right in. But it is nice you care. How many peoples did the Han forced themselves on?
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  23.  @gookarhwee5721  The issues between Russia and Ukraine go back centuries. Clearly being a neighbor of Russia is not a healthy situation. Keep in mind Putin has said he will go into any country where he feels ethnic Russians may be threaten. Viktor Yanukovych was corrupt and under him Ukraine was coming apart. He enjoyed support from Russia and he was seen as Russia's man but enjoyed strong support from only the smaller part of the country. If Ukraine wishes to join NATO that is Ukraine's choice, NATO never invaded Russia while the Soviet Union/Russia attacked it's neighbors several times since the 1900's. Russia simply has nothing to stand on concerning fears of being attacked by NATO. Keep in mind Ukraine did have independence for a brief period ending in 1920 but was reinvaded by the Soviet Union.
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  24.  @gookarhwee5721  Using your logic the United States should demand China eliminate the PLA because it makes the U.S. uncomfortable. Russia has no business dictating who Ukraine can be friends with, more so as Russia has historically had little respect for neighboring nations borders. Poland knows Belarus is a flunky to Russia. Belarus has been suggesting it should go into Ukraine on the side of Russia.
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  25. Russia started this war but it will be China that pays for it. You can not discount that aspect. The Chinese are getting heated over Covid, think how they will feel when they start losing their jobs.
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  26. German car companies produce autos in China itself. Germany runs a trade deficit with China.
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  27. They tried that back in the 1930's. It didn't work out too well for them.
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  28. The U.S. government made a profit from the bank bailouts.
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  29. Germany loses money on trade with China. What is happening now is what I said would would happen: China is paying for Putin's war.
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  30. Brics doesn't matter. When the U.S. and Europe stop buying their products, their economies will go down too. Look at China today.
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  31. The gold of the future may be wheat. Productive farmland is becoming short of supply and the war in Ukraine shows just how sensitive a grain shortage may affect prices. China a few years ago was looking at a massive wheat shortage a few years ago due to drought but rains did happen at the very last minute which saved the crop. China was exploring massive overseas buys of wheat. If industry were to move to China in a big way, that leaves a problem. If China acquires a lot of key industry, that means less workers with money to buy their products. Which means less exports, which means less incoming money. China is heavily dependent on exports now and you see the effects of less exports on the Chinese economy now. You can sell only so many BMWs to the Chinese population. A model that you might follow is the British Empire after World War 2. A leader in commerce and industry, by the 1920's the British economy was already having problems. The gold standard didn't save their industry and actually became a straight jacket that limited their ability to compete. Granted, it's never a bad idea to buy some gold, that is good advice, But I am not sure I see that rosy a future for the gold backed Yuan. There will be a period of wonderfulness that may occur, but over the long term the gold backed yuan may straight jacket the Chinese economy.
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  32. I doubt Putin gained anything. He did create a mess trying to bully Ukraine but I am hard pressed to see his actions as successful. I get the sense China is less than pleased with their friend with no limits as well.
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  33. Europe bought on the spot market, one of the more expensive ways to buy gas and oil. The United States supplies natural gas around the world and supplies are very tight. The U.S. domestic price has gone up quite a bit.
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  34. If the long game means the Chinese economy gets hurt badly, there will be angry phone calls being placed to Moscow from Bejing. Xi Jinping is already indicating displeasure with Russia. Putin has already made a few tepid comments about talks but Putin can not back off no matter how many Russian soldiers get killed. Putin is trying to save his face at this point.
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  35. Don't you think Europe has had a few centuries of experience with Russia?
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  36.  @popthatbeep  When you pay a hooker for sex, it should not be confused with love.
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  37.  @menofwar1155  Russia was the young virgin dressed in white raiment. We all know that!
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  38.  @SeanFooGold  The fact you can go to a central bank office and get actual bullion was a prime selling point for gold backed currency. U.S. gold certificates were just that... you could bring a $20 paper certificate to a U.S. Treasury office and get actual gold back. Or you could spend it like any other currency. Confidence in a gold backed currency was because anyone could exchange it. If gold backing was just for the members of the "club", people would just see it as play money for the elites and wouldn't find it as having any real value for them. Unless actual gold coinage was struck and put into circulation, any such plan will probably fail. The valuation for say, 1/10th, 1/2 and 1 oz gold coin would be hard to regulate as the gold price today isn't stable enough. In order to make this work, the governments would have to set a price for gold as they did when Bretton Woods was in place.
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  39. Brazil's Lula doesn't seem to be hitting all the right notes and he may be living in a time long past. BRICS isn't quite the home run Brazilians thought it would be and many feel uncomfortable becoming too dependent on China. Brazil has slowly been tilting to a more liberal society while they are now tied to two unliberal countries, China and Russia. Maybe Argentina is taking this all into consideration.
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  40.  @prabhakar0076  What India has going for it is China is Communist. Get rid of the Communist Party and China would be very formidable for India.
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