In Unprecedented Move, China Plans To Pay For Oil Imports With Yuan Instead Of Dollars

In Unprecedented Move, China Plans To Pay For Oil Imports With Yuan Instead Of Dollars:

A change in the default crude oil transactional currency – which for decades has been the “Petrodollar”, blessing the US with global reserve currency status – would have monumental consequences for capital allocations and trade flows.

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Dollar Plunges Most In 10 Months – Worst Start To A Year Since 1987

Dollar Plunges Most In 10 Months – Worst Start To A Year Since 1987:

This morning’s collapse in the dollar – the biggest daily drop since March 2017 – has extended the 2018 demise to 3.2%, the worst start to a year since 1987.

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Pakistan Ditches Dollar In Trade With China In Retaliation For Trump Twitter Meltdown

Pakistan Ditches Dollar In Trade With China In Retaliation For Trump Twitter Meltdown:

Less than a day after President Trump slammed Pakistan on Twitter for failure to combat terrorism, stating, “It’s not only Pakistan that we pay billions of dollars to for nothing, but also many other countries, and others,” and after it was revealed that the US will withhold $255 million in aid, Pakistan’s central bank announced it will be replacing the dollar with the yuan for bilateral trade and investment with China.

“SBP has already put in place the required regulatory framework which facilitates use of CNY in trade and investment transactions,” the State Bank of Pakistan (SBP) said in a press release late Tuesday, ensuring that imports, exports and financing transactions can be denominated in the Chinese currency.

“The SBP, in the capacity of the policy maker of financial and currency markets, has taken comprehensive policy related measures to ensure that imports, exports and financing transactions can be denominated in yuan,” Dawn news, Pakistan’s most widely read English-language daily, announced while quoting the SBP press release.

Read morePakistan Ditches Dollar In Trade With China In Retaliation For Trump Twitter Meltdown

Gold, Yuan, Or Crypto? Ron Paul Asks ‘What Will Replace Dollar Hegemony?’

Gold, Yuan, Or Crypto? Ron Paul Asks ‘What Will Replace Dollar Hegemony?’:

All Empires have collaborators and accomplices.

Creditors, vassals, and partners will play ball with the Empire if they see it in their interest to do so.

But once the Empire over-stretches militarily or financially (or both) the search for the exit door begins.

Ron Paul discusses the race to get away from the dollar on today’s Liberty Report…

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Pakistan considers dumping dollar for yuan in trade with China

Pakistan considers dumping dollar for yuan in trade with China:

The government of Pakistan is considering a proposal to start using the Chinese yuan in trade with China, according to the Interior Minister Ahsan Iqbal, as quoted by Pakistan’s English-language daily Dawn.

“We are examining the use of yuan instead of the US dollar for trade between the two countries,” the minister told the media after the official launch of the Long Term Plan (LTP) for the China-Pakistan Economic Corridor (CPEC).

Bilateral trade between Pakistan and China was worth $13.8 billion in 2015 to 2016, a decade after the countries signed a free trade agreement. Pakistan will continue to use the rupee domestically, according to Iqbal.

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Russia-China Real Gold Standard Means End Of US Dollar Dominance

Russia-China real gold standard means end of US dollar dominance:

The BRICS counties are considering starting an internal gold trading platform, according to Russian officials. When this happens, the global economy will be significantly reshaped, and the West will lose its dominance, predicts a precious metals expert.

In 2016, 24,338 tons of physical gold were traded, which was 43 percent more than in 2015, according to Claudio Grass, of Precious Metal Advisory Switzerland.

Gold moving from the West to the East

“We have to put the BRICS initiative into a broader context. It is just part of a geopolitical tectonic shift which started decades ago. We have seen a constant outflow of physical gold from the West to the East. At the same time, the West has lost the economic war, and as a consequence, the focus now turns to the financial system. China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse, he told RT.

The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy

Read moreRussia-China Real Gold Standard Means End Of US Dollar Dominance