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Thread: How China Just 'Reset' the Global Monetary System With Gold

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    How China Just 'Reset' the Global Monetary System With Gold

    China is heading towards real money, while the US sinks deeper into Wealth Spread FED fiat currency communism.


    (Dollar Photo Club)

    Saturday, 09 September 2017 12:08 AM

    China is taking the next big step towards dethroning the dollar’s place as the number one reserve currency around the world. But the strategy behind this big move could send gold soaring.

    International oil trade is the crux of the issue. For decades, the world’s largest oil importers have paid for oil using the petrodollar, which supports the dollar’s value and fuels U.S. government deficit spending (primarily because the petrodollar is backed by Treasuries).

    But now, China is looking to upset the current petrodollar system by introducing gold-backed “petroyuan” oil futures contracts. And since China is the largest importer of oil globally, this massive shift away from the petrodollar could be bad news for the U.S. But it could be great news for gold owners. Here’s why…
    Building the Petroyuan

    In June, China took the first step towards overturning the petrodollar by establishing a direct-trade relationship with Russia allowing for oil purchases to be made strictly in yuan. And just like that, the petroyuan was born.

    Not long after China’s new deal with Russia, Chinese officials began negotiations for a similar agreement with Saudi Arabia. But the discussion didn’t flow as smoothly as it did with Russia.

    That’s why China is taking things one step further with these new gold-backed futures contracts...
    Gold Solves Petroyuan Concerns

    Russia welcomed the petroyuan with open arms. But other big oil exporters haven’t been as keen to embrace it. Despite rising concerns around the U.S. dollar’s stability and viability, the yuan is still too illiquid and unestablished globally in comparison, causing many exporters to shy away from accepting it.

    But China has an ingenious way to solve this problem: Simply back the petroyuan with gold.

    By introducing these new petroyuan oil futures contracts that are convertible to gold, China is effectively negating exporters’ fears of accepting the yuan as trade payment.

    https://www.newsmax.com/Finance/Pete.../09/id/812544/
    Last edited by RonZeplin; 09-22-2020 at 02:17 PM. Reason: date stamp



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  4. #3
    Must spread some rep to RonZeplin....

    Any way, now we see why we're in an MMT/QE-infinity environment these days. There's little demand for all the new Treasuries from outside buyers, so without the Fed buying and printing, the FRN dollar would have already completely crashed due to failed debt auctions. The reckoning/reset is coming quickly but MMT/QE is still maintaining the illusion, at least domestically, for the moment.


    Quote Originally Posted by nikcers View Post
    Fake gold backed Chinese dollars is a good investment LOL. This is just a fallback plan because China's currency could collapse since they are becoming more and more isolated.
    China becoming isolated? Is that as compared to the US unilaterally reimposing sanctions on Iran while the rest of the UNSC says no? China is already back up and running full speed from their short little covid psyop exercise, but here we are still acting like everyone is dropping dead around town even though NO ONE even knows anyone that's ever had covid.

    You're as $#@!in' delusional and ill informed as Swordy is and that's saying something.
    Last edited by devil21; 09-23-2020 at 12:53 AM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.

  5. #4
    China just needs to install some of those solar panels they make on their rooftops. China needs to go green. They need AOC!

  6. #5
    Quote Originally Posted by devil21 View Post
    Must spread some rep to RonZeplin....

    Any way, now we see why we're in an MMT/QE-infinity environment these days. There's little demand for all the new Treasuries from outside buyers, so without the Fed buying and printing, the FRN dollar would have already completely crashed due to failed debt auctions. The reckoning/reset is coming quickly but MMT/QE is still maintaining the illusion, at least domestically, for the moment.




    China becoming isolated? Is that as compared to the US unilaterally reimposing sanctions on Iran while the rest of the UNSC says no? China is already back up and running full speed from their short little covid psyop exercise, but here we are still acting like everyone is dropping dead around town even though NO ONE even knows anyone that's ever had covid.

    You're as $#@!in' delusional and ill informed as Swordy is and that's saying something.
    Yeah they are becoming isolated. Russia is seeming to side with India and cancelled their shipment of s400. The Democrats have resulted to using Xi Jingpings talking points against the Trump administrations response to the Coronavirus and the Chinese state run media praises Joe Biden. Xi Jingping blamed western leaders for failing to respond to Coronavirus effectively and obfuscated the origins of the virus too. They did this months before democrats started to use those talking points.



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