Dollar no longer primary oil currency as China begins to sell oil using Yuan

[Dissent]

Dollar no longer primary oil currency as China begins to sell oil using Yuan - National Finance Examiner | Examiner.com

 

[KissMy]

The article should say oil producing countries are now accepting China's Yuan as payment for oil instead of exclusively selling oil only in US dollars as they have for the past 42 years. I have been saying for years that our debt would destroy the US dollar as the global "Petro Dollar" & "World Reserve Currency". We have just passed the point of no return. By sending all our manufacturing to China it has given them the ability to use the Yuan as a "Petro Dollar" & reap the huge benefit of "Petro Dollar Recycling". Now the USA will be bypassed in the exchange of goods around the world. No longer must another country produce a product for Americans in order to earn a US dollar so they can purchase oil.

 

[Avatar4321]

Not a good thing.