In These New Times

A new paradigm for a post-imperial world

China’s next step to destroy the dollar

Posted by seumasach on June 3, 2017

Of course, China’s goal is not to destroy the dollar but to negotiate a new global monetary system, a currency reset, in which the dollar will continue to play a role, albeit a greatly reduced one. A yuan for Saudi oil deal would help to focus Trump’s mind on outcome, the best one he can hope for.

Daily Reckoning

31st May, 2017

China is currently modifying the terms of its oil trade with Saudi Arabia. Specifically, China is working on a deal to pay for Saudi oil using Chinese yuan. This effort poses a direct threat to the security of the dollar.

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