The world’s top oil importer, China, is expected to launch its long-awaited and delayed yuan-denominated oil futures contract at the end of March, according to Reuters’ sources. The petroyuan is seen as Beijing’s challenge to the US dollar, the dominant global currency in oil contract settlements. UPDATE March 26, 2018: China’s Gold PetroYuan Futures Open:… Continue reading China Prepares To Launch Its Gold Convertible Petro-Yuan March 26, 2018: Five ‘Test Runs’ Have Successfully Completed.
Petrodollars have dominated the global energy markets for more than 40 years. But now, China is looking to change that by replacing the word dollars for yuan. Nations, of course, have tried this before since the system was set up by former US Secretary of State Henry Kissinger in tandem with the House of Saud back… Continue reading Chinese Petroyuan To Replace Rothschild Deep State Petrodollar
Gold And The Dollar Devaluation? 1) Voltaire said over 200 years ago, "Paper money eventually returns to its intrinsic value - zero." 2) The value of the U.S. dollar has declined from about 1/40 of an ounce of gold to its current level of about 1/1300 ounce of gold since 1971. 3) Because central bank… Continue reading U.S. Dollar Has Declined To 1/1300 Ounce Of Gold Since 1971
The writing is on the wall for dollar hegemony. As Russian President Vladimir Putin said almost two months ago during the BRICs summit in Xiamen, “Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial… Continue reading China Launching “Petroyuan”