China has Replaced the Petrodollar - Making Gold the Worlds New Reserve Currency.
Russia and China
Have announced that Russian Oil Traded with China will now be paid in Yuan, which is instantly convertible to Gold. The immensity of this announcement will be realized over decades, as the USA losses its power and control over the world. Since the early 1970's Oil has backed the value of the US Dollar, as the World had to use US Dollars to Buy and Sell Oil. Effectively this has made the USA the strongest country, and kept the US Dollar very strong.
De-Dollarization Begins
The Worlds Oil producing Nations, now know they can complete Oil Trades in Yuan, which is instantly convertible to Gold. Countries trading Oil with China, will begin the changeover from US Dollars, these include Saudi Arabia, Venezaula, Oman, Iran, Angola and Kuwait, as well as, many others. Whilst Oil is the first commodity that is changing over to trade in Yuan, other Minerals will follow. China and Russia, have been preparing for this for 2 decades, buying huge amounts of Gold, and they are now in the Premier position for leading World Trade during the rest of this Century. The BRICS bank, will challenge the leadership of the World Bank, BRICS countries are , Brazil, Russia, India, China and South Africa.
Iraq and Libya
both tried to circumvent the power of the USA with Saddam and Gaddafi, both at different times announcing they would sell Oil without using US Dollars, of course they where both assassinated and their countries destroyed. China is prepared, and will not loss this economic battle, of course this is rewriting our modern history, as we watch, in real time.
Oil
Is the benchmark of World Power, and now many countries will be trading in Oil, without using US Dollars. The balance of power and influence in the World, has now shifted economically to China, Russia and India, supported by most of the Oil Producing countries of the World.
One Belt One Road
Is an huge network of Roads, Rail and Ports stretching across Asia to Europe and through the Pacific, built by China it will link their trading partners, and provide for Chinese economic expansion. Now along with the switch of Petrodollars to Yuan and Gold, the World has realized that the US Dollar is over valued, and has been selling off rapidly. The roles of various countries in Global Trade are shifting, and the balance of economic power has been taken from the USA by China.
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Yes, its amazing, as I am living in Asia, I can see the massive infrastructure being built to connect the countries.. Its a great part of the world, the Chinese strategy seems to be investment, not destruction as we have seen from the US .. As I have worked with some Chinese, sure they are business people, but they are also family and community people and have been trading for many years in all countries, to the betterment of those countries.. Its an exciting time here in Asia..
yes it is the future changing before our eyes and i reckon it will all turn out for the better
Totally agree, I am enjoying the ride. Thanks for the connection..))
glad to be friends
Likewise.. watching your posts with interest..))
Thank you for posting this...very interesting article.
This has been tried before....we will see how much the US sits back and allows this. The invasion of Iraq has nothing to do with WMDs or oil but the Petrodollar. It is imperative to the US Govt that the dollar is the worlds reserve currency...something they will go to the ends of the world to defend.
It is going to be interesting.
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they will watch as it slips away this time - because China is not a easy beat like Iraq and lets face it , the USA had enough trouble beating even Iraq.
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$1.113 USD/STEEMVolume: 34.4709 BTC, 127753 STEEM / Average Price: 0.00026982Last Updated Sun Sep 10 05:22:21 2017Ive been saying that the petrol dollar is the only thing holding up the USD. Now we are screwed. Buy gold now.
yes spot on
I personally don't think this matters. Oils is dying. Countries that have relied on it are now looking for other sources. The use in the US has leveled and will go down more and more. Fossil fuels are a thing of the past. Plus there is too much being produced. The costs are so low now that the margins suck. But hey sometimes the last girl to the dance get lucky. :)
lower demand has some relevance - however the loss of using USD as World reserve currency will be very significant and that is the point of my blog. I appreciate your comment and intelligent viewpoint.
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Hence, China's interest in Taiwan and why U.S. circles the ships around it... world's largest gold reserve.
It will be interesting to see how crypto currency and BitCoin fits into this. China doesn't seem keen on it, but it will be hard to stop completely. The U.S. will have choices to make in regards to petro dollars... go after the China's and Russia's of the world and/or go after cryptos- or in a twist - accept and be friendly to the emerging cryptos.
There is a word of caution for countries that go off USD petro, though... pretty soon their currency turns into an inflationary disaster like VZ's. Blame the CIA or is it simply bad economic policy? is a different discussion altogether.
Interesting post. Cheers!
your an interesting thinker -thanks very much for connecting - i am now following you and look forward to friendship
Thank you. I followed you back and look forward to more, too.
Awesome post and a good summary of the change that is happening. It is one nail after the other in the coffin of the petrodollar. Thanks for sharing !
thanks my friend
This will open up a huge world of opportunity to the rest of the world as the power house of the US starts to collapse. I hope it will bring more sharing of wealth and power to each country individually.
your right -- the world will be a better place if wealth is distributed more evenly
Question... do you really want an illiberal China and Russia leading the world? Not flag waving for the U.S. here. Our entanglements abroad have caused problems here, too. But seems to me this is possible a case of, be careful what you ask for.
Great question - as a short answer, No. The idea of any particular nation/s leading the world is something i would never wish for. Not even my own country. As i said before I truly hope the result of these events will bring more sharing of wealth and power to each country individually.
That is what makes Steem so beautiful. If you make 1 SBD in the US, it is the same equivalent value as 1 SBD made in Nigeria. Equality amongst individuality.
In agreement. $Crypto currency, like Steem, is the beginning of a new day.
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