-
Tom Kirkman posted an update 6 years ago
And so it *finally* begins … China’s slow, exceedingly deliberate and long term plan to challenge the PetroDollar monopoly with the PetroYuan.
Russia, Iran, Venezuela and a few other countries will probably cautiously climb on board.
But the key, deciding factor will be how Saudi Arabia responds.
The U.S. will of course try to sabatoge the PetroYuan, as the PetroDollar monopoly has allowed the U.S. Fed to print money seemingly without end.
If the PetroYuan eventually becomes a legitimate rival to the PetroDollar, then the $21 TRILLION in debt by the U.S. may need to start to be paid down, probably very painfully so.
https://oilprice.com/Energy/Energy-General/Could-Chinas-Brand-New-Oil-Futures-Flop.html
Will China’s New Oil Futures Flop? | OilPrice.comChina’s historic oil futures contract is set to launch this week, and while Beijing believes in its success, extreme price volatility could spoil the party