24 votes

Dollar no longer primary oil currency as China begins to sell oil using Yuan

This announcement by China is one of the most significant sea changes in the global economic and monetary systems, but was barely reported on due to its announcement taking place during the Democratic convention last week. The ramifications of this new action are vast, and could very well be the catalyst that brings down the dollar as the global reserve currency, and change the entire landscape of how the world purchases energy.

Ironically, since Sept. 6, the U.S. dollar has fallen from 81.467 on the index to today's price of 79.73. While analysts will focus on actions taking place in the Eurozone, and expected easing signals from the Federal Reserve on Thursday regarding the fall of the dollar, it is not coincidence that the dollar began to lose strength on the very day of China's announcement.

Since China is not a natural oil producing nation, the question most people will ask is how will the Asian economic power get enough oil to affect dollar hegemony? That question was also answered by Lindsey Williams when he pointed out a new trade agreement that was signed on Sept. 7 between China and Russia, in which the Russian Federation agreed to sell oil to China in any and all amounts they desired.

MORE:
http://www.examiner.com/article/dollar-no-longer-primary-oil...




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Here's one from March

http://www.dailypaul.com/223065/brics-brazil-russia-india-ch...

God grants liberty only to those who love it, and are always ready to guard and defend it. – Daniel Webster

Do we have any other sources to vet this?!?!

This is HUGE news. But every article i can find all sources, the Lindsey Williams. Looked into Williams and he seams like he spouts this type of stuff regularly. Which does not mean its not true but I cannot seam to find any other articles discussing this with any other source..

The only thing that comes up other than the Williams source is articles, refering to China buying Iranian Oil using the Yuan. Nothing else refering to the Yuan being used on a more broad base international level.

I agree with previous posters that this is at least the news of the year, if not the decade and century. If this is true, that China will open its currency to be traded for Oil, with MENA and the rest of Asia. The dollar collapse is firmly in place. This is one of those types of moments, the catlyst, paired with Fed Reserve and QE3...

If anyone has an alternate source please provide below, Im pretty freaked out not going to lie.

Don't stop believing

Thanks for posting.

I like how the most important news is the stuff that you find out about 2 weeks after it happened and is never really covered.

This is huge news....

It doesn't matter who wins the next election. They both play for the same team.

The wars will continue as this video explains.

http://www.dailypaul.com/255265/libertarians-vs-republicans-...

www.SuccessCouncil.com
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Cyril's picture

Do be do be do be do do do

Do be do be do be do do do dah be do be do dah be do.

Prediction :

U.S. Secretary of Energy is going to find something is unfair.

U.S. Secretary of Defense gonna jump in, with concerns from Mrs Hitlery Clinton and her CFR / U.N. buddies as well...

That China is playing for a nasty coup against the U.S. encouraged by their bad, and oh sooo dangerous ! friends from Iran.

That it's worrisome for world peace stability to leave the Dollar so ungratefully,

etc, etc, etc.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

i also signed in

just to bump this.

"The two weakest arguments for any issue on the House floor are moral and constitutional"
Ron Paul

Maybe the most significant news of the year

maybe the decade and virtually nobody is talking about it. I signed in just to up-vote your post.

HopeRenewed - 6/13/2011
Neither should we sacrifice Liberty for Safety nor Integrity for Concessions. True Liberty can not exist in the absence of integrity. Liberty gained through compromise is but a temporary illusion.