In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘gold-backed yuan’

Challenging the dollar: China and Russia’s plan from petroyuan to gold

Posted by seumasach on October 5, 2017

“The reason the dollar plays such an important role in the world economy is due to the following three major factors: the petrodollar; the dollar as world reserve currency; and Nixon’s decision in 1971 to no longer make the dollar convertible into gold. As is easy to guess, the petrodollar strongly influenced the composition of the SDR basket, making the dollar the world reserve currency, spelling grave implications for the global economy due to Nixon’s decision to eliminate the dollar’s convertibility into gold. Most of the problems for the rest of the world began from a combination of these three factors.”

Federico Pieraccini

Strategic -Culture

If we were to identify what uniquely fuels American imperialism and its aspirations for global hegemony, the role of the US dollar would figure prominently.

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The Almighty dollar against the Great Petro-Yuan Temptation

Posted by seumasach on September 19, 2017

GEAB

17th September, 2017

Qatar, North Korea, the Baltic Sea, risk of a World War III… and all the military ranting mentioned in the media lately, are issues going hand in hand with the programmed and imminent advent of the catastrophic scenario for the dollar as a unique world reference currency: the Petro-Yuan will be in place at the end of the year. More than a petro-currency, it will be a petro-gas-gold-currency! The West is thus preparing to switch to total anachronism with this founding act of the 21st century multipolar world. 2014-2017: here we are, at the end of a three-year exacerbation period of tensions on all front lines (West against the rest of the world) and we are witnessing the up-coming end of the dollar’s reign over the world and over all financial systems and their related economic activities. Sanctions, blockades, proxy-wars, direct military threats… the question is whether the current clash of arms is really a warning sign of an Nth suicide of the West whilst hoping in vain to stop time, or whether the solution conveying power is on the verge of carrying away all possible resistance.

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China sees new world order with oil benchmark backed by gold

Posted by seumasach on September 3, 2017

Nikkei Asian Review

1st September, 2017

DENPASAR, Indonesia — China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry.

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Moscow And Beijing bypass US Dollar, shift to gold trade

Posted by seumasach on April 3, 2017

Zero Hedge

1st April, 2017

The Russian central bank opened its first overseas office in Beijing on March 14, marking a step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system, and to phase-in a gold-backed standard of trade.

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Gold in 2016

Posted by seumasach on January 10, 2016

Alasdair Macleod

Gold Money

7th January, 2015

Advance signs of a global slump in economic activity emerged in 2015

Furthermore, the dollar’s strength, coupled with widening credit spreads confirms a global tendency for dollar-denominated debt to contract. These developments typically precede an economic and financial crisis that could manifest itself in 2016, partially confirmed by the disappointing performance of equity markets. If so, demand for physical gold can be expected to escalate rapidly as a financial crisis unfolds.

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China, gold prices & US default threats

Posted by seumasach on October 22, 2013

F.William Engdahl

RT

21st October, 2013

In the very days when a deep split in the US Congress threatened a US government debt default, the gold price should normally jump through the roof, yet the opposite was the case. It is worth a closer look why.

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China converting US debt to gold

Posted by seumasach on August 20, 2013

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