China about to implement gold-backed petro-yuan. Will Crush dollar.

[ShootSpeeders]

Libya and Iraq tried this and america invaded and crushed them.

China Launches ‘Petroyuan’ To End Global Dollar Dominance

oct 25 2017 China, the world’s biggest oil importer, is set this year to implement its plan to end the global dominance of the U.S. dollar by launching a gold-backed futures contract denominated in yuan. Experts say that Beijing’s plan to introduce a gold-backed crude oil futures contract based on the yuan represents an important step in the country’s push to end the dollar’s global dominance. The adoption of the new crude oil benchmark by major players in global oil markets would sound the death knell of the currently dominant dollar-denominated oil futures, according to experts.

Adam Levinson, head of Graticule Asset Management Asia, told Bloomberg that China’s latest move is part of a long-term plan for the yuan to topple the dollar as the currency used to price oil in global markets. Chinese planners correctly believe that setting up the yuan to compete with the dollar in global markets is essential to achieving the status of an economic superpower.

Besides its state-owned oil companies, China hopes that countries, such as Russia, Iran, and Venezuela, targeted by the U.S. with economic sanctions would be the first to adopt the new yuan-based benchmark as part of their strategy to reduce their vulnerability to U.S. foreign policy, which seeks to use economic sanctions to punish countries that refuse to toe the line.

 

[Toddsterpatriot]

Nobody is going to trust the Yuan.

 

[Indeependent]

Nobody is going to trust the Yuan.

With or without noodles?

 

[The Irish Ram]

This is a big economic deal.

 

[Toddsterpatriot]

This is a big economic deal.

Why?

 

[ShootSpeeders]

This is a big economic deal.

I think so too. And not much america can do about it this time.

 

[Votto]

Nobody is going to trust the Yuan.

 

[BluesLegend]

35% of them will be defective

 

[TNHarley]

35% of them will be defective

Deport all the illegal juans!

 

[Toddsterpatriot]

Nobody is going to trust the Yuan.

It whines too much.

 

[Toddsterpatriot]

35% of them will be defective

And they'll poison your dog.

 

[Indeependent]

Is there a coincidence that this announcement comes at the same time as closing factories that are not conforming to pollution control standards?

 

[Moonglow]

Is there a coincidence that this announcement comes at the same time as closing factories that are not conforming to pollution control standards?

IMF?

 

[OKTexas]

Libya and Iraq tried this and america invaded and crushed them.

China Launches ‘Petroyuan’ To End Global Dollar Dominance

oct 25 2017 China, the world’s biggest oil importer, is set this year to implement its plan to end the global dominance of the U.S. dollar by launching a gold-backed futures contract denominated in yuan. Experts say that Beijing’s plan to introduce a gold-backed crude oil futures contract based on the yuan represents an important step in the country’s push to end the dollar’s global dominance. The adoption of the new crude oil benchmark by major players in global oil markets would sound the death knell of the currently dominant dollar-denominated oil futures, according to experts.

Adam Levinson, head of Graticule Asset Management Asia, told Bloomberg that China’s latest move is part of a long-term plan for the yuan to topple the dollar as the currency used to price oil in global markets. Chinese planners correctly believe that setting up the yuan to compete with the dollar in global markets is essential to achieving the status of an economic superpower.

Besides its state-owned oil companies, China hopes that countries, such as Russia, Iran, and Venezuela, targeted by the U.S. with economic sanctions would be the first to adopt the new yuan-based benchmark as part of their strategy to reduce their vulnerability to U.S. foreign policy, which seeks to use economic sanctions to punish countries that refuse to toe the line.

That will last till a couple of major players start trying to redeem those yuan for physical gold.


.

 

[ShootSpeeders]

That will last till a couple of major players start trying to redeem those yuan for physical gold.

.

You can't redeem dollars for anything. THINK

 

[Toddsterpatriot]

That will last till a couple of major players start trying to redeem those yuan for physical gold.

.

You can't redeem dollars for anything. THINK

I redeem dollars for stuff all the time.

 

[whitehall]

Barry Hussein told Americans that we would be "weaned off fossil fuel" in the near future. Doesn't that sound treasonous or at least criminally inept in retrospect ? Maybe it was part of Hussein's plan to reduce America's influence to 3rd world country. The best way to avoid China's threat to dominate the world's oil supply of course is to become independent of foreign oil.

 

[Fort Fun Indiana]

This whole thing is a silly myth propagated by Russian and Chinese propaganda machines and gold brokers.

 

[OKTexas]

That will last till a couple of major players start trying to redeem those yuan for physical gold.

.

You can't redeem dollars for anything. THINK

China imports about more than half the oil they use, are they going to pay for all of it in gold? If they are you best be buying a lot of gold because the price will go through the roof.


.

 

[ShootSpeeders]

[
China imports about more than half the oil they use, are they going to pay for all of it in gold?

.

They didn't say that. They will pay in yuan which can be converted into gold. That's the plan anyway. THINK