The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Monday, December 3, 2018

World's largest commodity is now on Blockchain as North Sea oil market first to begin trading on platform

While most of the financial world is caught up in the cryptocurrency craze, most investors often forget that cryptos are simply assets traded on a much bigger platform.  And now on Dec. 2 we can add oil trading to this engine as the North Sea oil market has officially moved to trading on the Blockchain.

Oil majors and trading firms can start finalizing crude oil deals on a live blockchain-based platform for the first time, in a move that could revolutionize the market. 
Commodities trading firms have piloted similar schemes in recent years as blockchain technology has the potential to drastically cut costs in an environment of razor-thin profit margins. 
London-based platform Vakt is the first of these to go live, with shareholder Gunvor Group saying it was rolled out on Nov. 28, although no trades took place that day. 
Blockchain, the platform behind cryptocurrency Bitcoin, is viewed by many as a solution to trade and settlement inefficiencies, as well as a way to improve transparency and reduce the risk of fraud. – Epoch Times
The North Sea oil market was not the first to begin transitioning its trading to the blockchain, as Russia is also in the process of doing this for both their energy and agricultural markets.  However they appear to be the first major market to be ready to go live, and it will interesting to see how soon most Brent Crude trading also transitions over to the Blockchain once it fully kicks into gear.

EU initiates proposal to dump the dollar and to create a PetroEuro system

When the U.S. and President Trump decided to renege on the JCPOA Iran nuclear agreement, it set in motion the will within Europe to reject this action and to seek alternatives to dollar hegemony.  And besides a plan to create their own continental SWIFT alternative, the European Commission on Dec. 3 initiated plans to not only drop the dollar as a trade settlement currency, but also to create their own 'PetroEuro' for use in energy deals.

Amid increasing tensions between Trump and various European leaders (cough Macron cough) and the ongoing threats of sanctions and tariffs, the European Commission plans to outline initiatives to develop the international role of the euroaccording to a draft document obtained by Bloomberg. 
As Viktoria Dendrinou reports, the plan has three dimensions including the European financial sector, the international financial sector and key strategic sectors such as energy... 
Member states should promote wider use of the euro in relations with third countries in field of energy, including in contracts within the framework of bilateral and multilateral international agreements,” intergovernmental agreements with third countries a model clause, developed by the Commission, related to the use of the euro as default currency
“Participants in European energy markets should use more energy-related contracts denominated in euro 
“Price reporting agencies should facilitate the launching of euro-denominated price benchmarks for crude oil 
“Commodity exchanges should facilitate the further development of euro-denominated derivative contracts on crude oil and refined products- Zerohedge

Qatar initiates an OPEC 'Brexit' as they will leave the cartel at beginning of 2019

With a new report out showing that 40% of the world's energy production is now controlled by just three countries (with two of them not even part of OPEC), the power and authority once held by the Middle Eastern cartel appears to be waning fast.  And in response to this, and the dying Petrodollar agreement, Qatar announced on Dec. 3 that they will officially be leaving OPEC at the beginning of next year.

Qatar leaving the Organization of the Petroleum Exporting Countries (OPEC) is largely a symbolic step, expert tells RT, as the Gulf state is a marginal player in the oil trade. But they say repercussions will be felt in Riyadh. 
While the move is merely symbolic for Qatar, a founding member quitting OPEC after 57 years cannot look positive for the organization, John Hall, chairman of Alfa Energy, a UK-based consulting company said in an interview with RT. 
“They are making their point,” the expert said, stressing Doha was driven by Saudi Arabia and the Saudi-led blockade. “It will hit [the] credibility of the OPEC, as well as it will hit Saudi Arabia as the de-facto leader of the OPEC.” - Russia Today
While Qatar is certainly not a heavyweight in OPEC, it is a charter member who's significance in the region cannot be understated.  And with their largest natural gas facilities being tied to Iran in a joint partnership, they cannot afford to be sanctioned or coerced by the Saudi's, especially since the U.S. has instigated a return of sanctions on Iran.

Indeed, it is fairly apparent that Qatar has been in the process of disconnecting itself from OPEC for some time, especially since they have already begun to accept Chinese Yuan and Euros as trade payment in the past year at the expense of the Petrodollar.  And with the likelihood of Saudi Arabia losing more and more of its authority in the region thanks to Russia's growing market share and the escalation of U.S. production, OPEC's days are surely numbered and as with any breakup, those who exit the door first usually end up with the least amount of pain.