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Easy to understand primer on the significance of the Petro-Yuan’s shot across the bow to the Petro-Dollar.
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“There was a monumental event that occurred on March 26 that came and went with little fanfare but has huge implications to our everyday life. On that day, China began trading Petroyuan Futures in competition to the Petrodollar Futures.

… There is a major movement in foreign countries to de-dollarize. BRIC (Brazil, Russia, India, China) countries are especially aggressive at de-dollarizing to escape the US military complex. Countries around the world have grown tired of funding US military adventurism by being part of the “empire of debt”—$21 trillion and counting.

With China now trading Petroyuan Futures, these countries now have a way out. The Petroyuan has a major advantage over the Petrodollar in that it is convertible into gold at prevailing gold prices while the dollar is essentially an IOU backed by a country with $21 trillion of debt. When trading of the Petroyuan opened on March 26, they priced at a $4 premium to the Petrodollar with 40 central banks investing and several others preparing to do so. …”

http://ussanews.com/News1/2018/04/06/why-the-dollars-era-of-dominance-may-be-coming-to-an-abrupt-end/

Why the Dollar’s Era of Dominance May Be Coming to an Abrupt EndThere was a monumental event that occurred on March 26 that came and went with little fanfare but has huge implications to our everyday life. On that day, China began trading Petroyuan Futures in competition to the Petrodollar Futures. To fully understand the context of this event, it helps to go ov