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General Congreve

Gas Payment In Assets, Not Funny Money.

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Anecdotal I know, but just been down the pub with a neighbour. He has a mate that works in the natural gas industry who buys gas from foreign producers for wholesale over here. Now he wasn't too clued up about which country his friend was talking about, (referring to it just being somewhere in the Middle East), but on a recent trip to this country, the fellas his friend was dealing with said "we'll happily sell you gas, but we won't accept payment in cash, we have too much of this as it is and we get too little interest on it. Instead we want assets as payment. We'd like you to acquire us a wind farm in return for this sale". And so his friend arranged for his company to buy a wind farm and forward the ownership of the wind farm as payment.

The point is, do the sellers not want our soon to be worthless funny money any more? Is this the 'Global Dash for Assets' that Daddy Bear speaks of. I sure think it could be.

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Anecdotal I know, but just been down the pub with a neighbour. He has a mate that works in the natural gas industry who buys gas from foreign producers for wholesale over here. Now he wasn't too clued up about which country his friend was talking about, (referring to it just being somewhere in the Middle East), but on a recent trip to this country, the fellas his friend was dealing with said "we'll happily sell you gas, but we won't accept payment in cash, we have too much of this as it is and we get too little interest on it. Instead we want assets as payment. We'd like you to acquire us a wind farm in return for this sale". And so his friend arranged for his company to buy a wind farm and forward the ownership of the wind farm as payment.

The point is, do the sellers not want our soon to be worthless funny money any more? Is this the 'Global Dash for Assets' that Daddy Bear speaks of. I sure think it could be.

Why is this in the off topic forum rather than the main pages. This is VERY interesting if true.

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The Oil and Gas industry has been involved in both Barter and Switch trading for many years now.

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Anecdotal I know, but just been down the pub with a neighbour. He has a mate that works in the natural gas industry who buys gas from foreign producers for wholesale over here. Now he wasn't too clued up about which country his friend was talking about, (referring to it just being somewhere in the Middle East), but on a recent trip to this country, the fellas his friend was dealing with said "we'll happily sell you gas, but we won't accept payment in cash, we have too much of this as it is and we get too little interest on it. Instead we want assets as payment. We'd like you to acquire us a wind farm in return for this sale". And so his friend arranged for his company to buy a wind farm and forward the ownership of the wind farm as payment.

The point is, do the sellers not want our soon to be worthless funny money any more? Is this the 'Global Dash for Assets' that Daddy Bear speaks of. I sure think it could be.

Interesting - most of all the anecdote that a Middle Eastern (probably Qatari) gas producer is exchanging natural gas for a wind farm in the UK.

Perhaps all the gas and oil isn't going to last as long as we think?

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but what happens when protectionism sets in, with each country voting in a xeonophic juche regime and seizing the assets that these middle easterners bought?

its about as safe to buy assets in the UK for these middle easterners as taking GBP (i.e. not safe at all).

only assets that can be taken out of the country (and quickly) are worth it in my opinion.

the next 10 years will be interesting.

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but what happens when protectionism sets in, with each country voting in a xeonophic juche regime and seizing the assets that these middle easterners bought?

its about as safe to buy assets in the UK for these middle easterners as taking GBP (i.e. not safe at all).

only assets that can be taken out of the country (and quickly) are worth it in my opinion.

the next 10 years will be interesting.

So they're playing right into our hands, we take all their gas and oil and give them our hard assets in payment, then it's a quick change of government policy when we run out of things to sell and hey presto, we've nationalised all foreign assets, Ker-ching!

Money for nothing and the cheques for free.

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