Thursday, November 21, 2013

China markets on verge of bypassing dollar and selling oil futures in Yuan

A little over a year ago, China finalized an agreement with Russia where they would be allowed to purchase as much oil as they desired from the global energy titan, and pay in currencies other than the Petrodollar.  On Nov. 21, the 2nd largest global economy fired a new shot across America’s bow, and stands of the precipice of allowing oil to be bought on the futures market in Yuan, creating a direct conflict with dollar domination, and officially ending the petrodollar’s monopoly as the world’s sole reserve currency.

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