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Thread: China Resets The World Reserve Currency System - PETROYUAN

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    China Resets The World Reserve Currency System - PETROYUAN

    http://www.livetradingnews.com/china...tem-53992.html

    Snip

    Since Y 1973, OPEC Crude Oil has been quoted and traded using USDs, otherwise known as “Petrodollars.”

    The “recycling” of petrodollars into US Treasuries has been the life-blood of the US economic and political system. In addition to reducing a major source of funding for the US Government’s enormous deficit spending, the introduction of a Gold-backed RMB Yuan Crude Oil futures contract is an important step toward removing the USD as the world’s reserve currency.
    More at link
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  3. #2
    The “recycling” of petrodollars into US Treasuries has been the life-blood of the US economic and political system.
    How much in US Treasuries do petrodollar counties own? Out of $20,000 billion in Treasuries, Saudi Arabia has $142 billion and UAE has $59 billion- or a combined one percent. http://ticdata.treasury.gov/Publish/mfh.txt'

    IF they stopped buying, they would not be missed much.



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