Image of Trading Oil for Gold: China’s Gold-Backed Petro-Yuan Market, Threatens the US Dollar?
Trading Oil for Gold: China’s Gold-Backed Petro-Yuan Market, Threatens the US Dollar?
China recently announced they will trade oil for yuan “backed” by gold. The story has gotten some press (none of it mainstream mind you), and many have questions as to what it really means. While quite complicated as a whole, when you break this down into pieces I believe it is a quite simple and logical end to Bretton Woods.For a background, China has had an exchange open for about a year where g... [Read More]
Image of China buying oil from Iran with yuan - BBC News
China buying oil from Iran with yuan - BBC News
China is buying crude oil from Iran using its currency the yuan, an Iranian diplomat has said.Oil transactions are usually settled in dollars but US sanctions make it difficult for Iran to accept payments in the US currency.Iran is using the revenue to buy goods and services from China, Mohammed Reza Fayyad, Iran's ambassador to the United Arab Emirates, confirmed.China is the biggest buyer of Ira... [Read More]
Image of Non-Dollar Trading Is Killing the Petrodollar -- And the Foundation of U.S.-Saudi Policy in the Middle East | HuffPost
Non-Dollar Trading Is Killing the Petrodollar -- And the Foundation of U.S.-Saudi Policy in the Middle East | HuffPost
BEIRUT — A profound transformation of the global monetary system is underway. It is being driven by a perfect storm: the need for Russia and Iran to escape Western sanctions, the low interest rate policy of the U.S. Federal Reserve to keep the American economy afloat and the increasing demand for Middle East oil by China.The implications of this transformation are immense for U.S. policy in the Mi... [Read More]
Image of PressTV - Russia joins 4 ex-Soviet nations in creating new alliance
PressTV - Russia joins 4 ex-Soviet nations in creating new alliance
Russia has joined four ex-Soviet nations in creating a new alliance aimed at boosting economic and trade ties among the member states. Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan have joined to form the Eurasian Economic Union (EEU), which is schedule to come to existence on January 1. [Read More]
Russia to Help Kill U.S. Dollar - Economic Expert Interview, Marin Katusa - YouTube
Watch this must-see interview as Marin Katusa discusses global resource control, America’s future, the death of the dollar and how to prepare yourself for a massive paradigm shift: [Read More]
Image of Putin Says The Petrodollar Must Die: “The Dollar Monopoly In Energy Trade Is Damaging Russia’s Economy
Putin Says The Petrodollar Must Die: “The Dollar Monopoly In Energy Trade Is Damaging Russia’s Economy
On one hand, despite initial weakness following Europe’s triple-dip red alert, futures declined only to surge higher after some headline or another out of Russia was again spun to suggest imminent Ukraine de-escalation (something which Russia whose only interest is to keep crude prices high, has absolutely zero interest in), perpetuating a rumor which was set off by a Russian media outlet tweet la... [Read More]