As I wrote on 30 Aug. 2016, the days of the petrodollar and here, the foundation of the US superpower status, are numbered, both Putin, China and even Rothschild himself turning their backs on the petrodollar. This is disastrous for the US – and when Saddam Hussein skipped the dollar and traded oil in euros, Moammar Gaddafi did so, too, to trade oil in African dinars, Bashar Al-Assad of Syria also gave up oil they were attacked – the former 2 dictators even killed, by the US – leaving chaos with worldwide implications.
Jacob Rothschild warns the world against the failure of his central banks to manage an upcoming crash in the greatest financial experiment in history: Zero/negative interest rates and desperate “quantitative easing. Therefore, Rothschild is selling dollars and sterling, buying gold instead – thus burying the dollar of his own FED. He must be preparing for the one-world currency.
Activist Post 16 July 2017: Russia and China are now creating a new paradigm for the world economy and paving the way for a global de-dollarization.
The BRICS has formed its own worldbank – and the new Chinese AIIB Bank will not use the dollar as reserve currency. As the Telegraph wrote on 19 July 2014: The Dollar´s 70 year-old dominance is coming to an end
“A Russian-Chinese alternative to the dollar in the form of a gold-backed ruble and gold-backed Renminbi or yuan, could start a snowball exit from the US dollar, and with it, a severe decline in America’s ability to use the reserve dollar role to finance her wars with other peoples’ money,” Engdahl concludes.
So far, Russia and China have been too big lumps to swallow – but now Venezuela joins the company – an easy bite for the US to show China and Russia that threats to the petrodollar is a matter of war. For while Venezuela trades oil to China and Russia and buys arms from Russia it has no military pact with these powers
Sputnik 14 Sept. 2017: As US-Venezuelan tensions have further escalated as Washington had imposed new sanctions on Caracas, Venezuela reportedly has stopped using US dollars in oil trade.
Venezuelan authorities have told oil traders that the country would no longer make or accept payments for oil deals in US dollars, the Wall Street Journal reported, citing sources familiar with the situation.
Oil traders who export Venezuelan oil or import petroleum products have already begun to convert invoices to euros, the media outlet reported.
The new legislature has not been recognized by the country’s opposition, the European Union or the United States.
The restrictive measure specifically ban US companies from dealing with new debt obligations and securities issued by the Venezuelan government and the state oil company PDVSA, with a maturity of more than 30 days and more than 90 days, respectively.
THIS IS DANGEROUS FOR MADURO AND THE US
Activist Post 16 July 2017 To be clear, there is a revolutionary transformation of the entire global monetary system currently underway, being driven by an almost perfect storm. The implications of this transformation are extremely profound for U.S. policy in the Middle East, which for nearly the past half century has been underpinned by its strategic relationship with Saudi Arabia.
Reuters 13 July 2013:The formation of a BRICS gold marketplace, which could bypass the U.S. Petrodollar in bilateral trade, continues to take shape as Russia’s largest bank, state-owned Sberbank, announced this week that its Swiss subsidiary had begun trading in gold on the Shanghai Gold Exchange.
Russian officials have repeatedly signaled that they plan to conduct transactions with China using gold as a means of marginalizing the power of the dollar in bilateral trade between the geopolitically powerful nations. This latest movement is quite simply the manifestation of a larger geopolitical game afoot between great powers.
Sberbank was granted international membership of the Shanghai exchange in September last year and in July completed a pilot transaction with 200 kg of gold kilobars sold to local financial institutions, the bank said.
Sberbank plans to expand its presence on the Chinese precious metals market and anticipates total delivery of 5-6 tonnes of gold to China in the remaining months of 2017.
Russia’s second-largest bank VTB is also a member of the Shanghai Gold Exchange.
Moammar Gaddafi had an orderly state, the richest African state. He was also murdered by the US – leaving total chaos behind, swapping over on Europe as a transit country for African economic migrants: A monument of US and its helper´s (among them Denmark) stupidity
The Asia Times 27 April 2017: The Chinese government wishes to internationalize the yuan, and conduct trade in yuan as it has been doing, and is beginning to increase trade with Russia. However, when Russia and China agreed on their bilateral US$400 billion pipeline deal, China wished to, and did, pay for the pipeline with yuan treasury bonds, and then later for Russian oil in yuan.
This evasion of, and unprecedented breakaway from, the reign of the US dollar monetary system is taking many forms, but one of the most threatening is the Russians trading Chinese yuan for gold. The Russians are already taking Chinese yuan, made from the sales of their oil to China, back to the Shanghai Gold Exchange to then buy gold with yuan-denominated gold futures contracts – basically a barter system or trade.
The Chinese are hoping that by starting to assimilate the yuan futures contract for oil, facilitating the payment of oil in yuan, the hedging of which will be done in Shanghai, it will allow the yuan to be perceived as a primary currency for trading oil. The world’s top importer (China) and exporter (Russia) are taking steps to convert payments into gold. This is known. So, who would be the greatest asset to lure into trading oil for yuan? The Saudis, of course.
All the Chinese need is for the Saudis to sell China oil in exchange for yuan. If the House of Saud decides to pursue that exchange, the Gulf petro-monarchies will follow suit, and then Nigeria, and so on. This will fundamentally threaten the petrodollar.
China and Iran were the first to initiate bypassing the dollar, followed by Russia circumventing the SWIFT system and then India beginning to move away from the US dollar and starting bilateral trade deals. China and Japan made moves to trade directly, as did Japan with India, bypassing the dollar.
The use of alternative payment systems like gold, yuan, rupees, rubles and other monies, fiat and not, to evade the potential of sanctions and seizures of the US dollar, or its decline, are seen as favorable.
The petrodollar is the last vestige of that “American standard of living” middle America cherishes, and if the gold trade bonds fly and yuan changes hands as the oil flows, the US is going to get a shock when Saudi Arabia likes the look of red paper as much as green, or worse yet, yellow metal, a lot of which is moving east.
A heavy war is being waged on the US dollar – and it will have dramatic consequences for at least world economy – and possibly for the security of the world.