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Timeline: Greece's financial crisis. By Nick Thompson, CNN November 1, 2011 12:09 p.m.

Timeline: Greece's financial crisis

EDT. China, Russia Agree To Use Yuan, Ruble In Bilateral Trade. BEIJING (MNI) - China and Russia have signed an agreement to use the yuan or ruble in their bilateral foreign trade. The People's Bank of China said in a statement that it has agreed with the Central Bank of Russia that companies from the two countries can choose to use the Chinese yuan, Russian ruble or any freely-convertible currency to settle foreign trade. Foreign trade on China's border with Russia is already informally conducted in yuan or rubles. Beijing is pushing trade settlement in yuan as part of its efforts to internationalize the currency.

China, Cleverly Dumping US Dollars. FN: China is dumping dollars, but far more cleverly than you might think. Immobilienblasen has noticed a rather curious tendency for China to overpay in "China Inc. " Deal Premiums. What exactly is that all about? Well, imagine you had a bunch of money... err... US dollars for example. Peak oil. A 1956 world oil production distribution, showing historical data and future production, proposed by M.

Peak oil

King Hubbert; it has a peak of 12.5 billion barrels per year about the year 2000 Historical US crude oil production showing initial similarity to a Hubbert curve Peak oil, an event based on M. King Hubbert's theory, is the point in time when the maximum rate of petroleum extraction is reached, after which the rate of production is expected to enter terminal decline.[1] Peak oil theory is based on the observed rise, peak, (sometimes rapid) fall, and depletion of aggregate production rate in oil fields over time.

AJE. 9. Iran’s New Oil Trade System Challenges U.S. Currency. Source:, October 27, Title: “Iran Next U.S.

9. Iran’s New Oil Trade System Challenges U.S. Currency

Target,” Author: William Clark Faculty Evaluator: Phil Beard, Ph. Petrocurrency. Petrocurrency is a portmanteau neologism used with three distinct meanings, though often confused: Trading surpluses of oil producing nations, originally called petrodollarsCurrencies of oil producing nations which tend to rise in value against other currencies when the price of oil rises (and fall when it falls).Currencies used as a unit of account to price oil in the international market.


Oil producers' trading surpluses[edit] With the large rise in oil prices in the 1970s, there was concern that the world economy might contract if the oil producers extracted money and failed to recycle it back to oil consumers.