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CHINA, RUSSIA NO LONGER BUYING OIL WITH PETRO DOLLAR

This happened on September 12th officially.

*China and Japan announced plans to bypass the dollar and use their own currencies in their trade relations. Discussions involving a partnership between South Korea and China to exchange their currencies also have taken place. This is a huge development as China, Japan and South Korea are the dominant economic powers in that Asian region.

*China and Russia have, for more than a year, been conducting trade using rubles and the yuan.

*China and the United Arab Emirates (UAE) have announced an agreement which will use the yuan for oil trades. The Chinese National Bank said that this agreement, worth around $5.5 billion, was made to “strengthen financial cooperation, to promote trade and investments, and to mutually assure regional financial stability.”

*Russia and Iran have agreed to use rubles as a means of currency in their trades. Russia has joined China in opposing U.S. sanctions against Iran and fully intends to maintain a close relationship with Iran.  economyincrisis.org/content/the-beginning-of-the-end-for-the-u-s-dollar-as-the-world-reserve-currency

I know this is old news to some… But be aware this is directly influencing current activity.  Perhaps even the ships off the coast situation.

Additional info:  Lindsay Williams: www.examiner.com/article/dollar-no-longer-primary-oil-currency-as-china-begins-to-sell-oil-using-yuan

Lindsey Williams: “This has never happened in the history of crude oil. Since crude oil became the motivating force behind our (U.S.) entire economy, and everything in our lives revolves around crude oil. And since crude oil became the motivating factor behind our economy… never, ever has crude oil been sold, bought, traded, in any country in the world, without using the American dollar.”

“Crude oil is the standard currency of the world. Not the Yen, not the Pound, not the Dollar. More money is transferred around the world in crude oil than in any other product.”

“On Friday, Sept. 7, Russia announced, that as of today, we will supply China with all of the crude oil that they need, no matter how much they want… there is no limit. And Russia will not sell or trade this crude oil to China using the American dollar.” –Interview with Natty Bumpo on the Just Measures Radio network, Sept. 11

 

 

 

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