Death of the PetrodollarCCP & Saudi's will likely unseat trade for oil denominated in dollars soon.
The Chinese Communist Party & the Federal Reserve (by way of currency devaluation) have long entered a contest to see who can destroy the value of the US dollar most quickly. The CCP is now working on a methodology where it can buy oil produced in the Middle East directly in yuan — thereby strengthening the value of yuan as an ‘export’ by bypassing the traditional ‘petrodollar’ exchange. What do the BRICS+, Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union (EAEU) all have in common? None of them want to be beholden to the United States preexisting domination ove… 9 days ago · 27 likes · 4 comments · The Farm At some point — the CCP may even want to de-couple the yuan from its fixed exchange ratio with us dollars. A price that they manipulate to benefit Chinese exports. All they need to work out are the international payment and settlement systems, as well as the timing of all these moves. If this happens in the near-term — expect a massive drop in the standard of living in most Western countries practically overnight. The Farm is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. You're currently a free subscriber to The Farm. For the full experience, upgrade your subscription. © 2022 The Farm |