In The News Today

Posted at 12:39 PM (CST) by & filed under Bill Holter.

Bill Holter’s Commentary

John Williams with real numbers once again…

– Fourth-Quarter 2017 Gross Domestic Product GDP Annualized Real Growth Revised to 2.89% (Previously 2.54%), Down from 3.16% in Third-Quarter 2017

– Fourth-Quarter Gross Domestic Income (GDI), Theoretical GDP Equivalent, Slowed to 0.87% from 2.44% in Third-Quarter

– Fourth-Quarter Gross National Product (GNP), Broadest Measure of the Economy, Slowed to 2.71% from 3.65% in Third-Quarter

– First-Quarter 2018 Real Merchandise Trade Continued on Track for Worst Shortfall in Modern Reporting

– March Economic Numbers Should Disappoint Expectations

– First-Quarter GDP Increasingly Looks Like a Contraction

– Better-Quality Economic Measures Still Show No Economic Expansion

“No. 943: Gross Domestic Product, Gross National Product, Gross Domestic Income, Trade ”

http://www.shadowstats.com

Bill Holter’s Commentary

“Unprecedented”?  Haven’t we told you about this for more than a year?

In Unprecedented Move, China Plans To Pay For Oil Imports With Yuan Instead Of Dollars
March 31, 2018

Just days after Beijing officially launched  Yuan-denominated crude oil futures (with a bang, as shown in the chart below, surpassing Brent trading volume) which are expected to quickly become the third global price benchmark along Brent and WTI, China took the next major step in the challenging the Dollar’s supremacy as global reserve currency (and internationalizing the Yuan) when on Thursday Reuters reported that China took the first steps to paying for crude oil imports in its own currency instead of the US Dollars.

 

 

 

 

 

A pilot program for yuan payment could be launched as soon as the second half of the year and regulators have already asked some financial institutions to “prepare for pricing crude imports in the yuan”, Reuters sourcesreveal.

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