Petro-Yuan Is The Newest Weapon For The China-Russia-Iran Anti-USD Alliance

Authored by Jeff Brown via The Saker blog,

Pictured above, the currency symbols for the old Spanish peseta and the Chinese yuan. Maybe Baba Beijing can synthesize the two of them into a cooling looking petro-yuan logo.

After 25 years of dreams, planning, rumors and testing, the Chinese petro-yuan is now official. Right now, almost all global oil trade is conducted in US dollars, using two benchmark varieties of crude, West Texas Intermediate and North Sea Brent, as the industry standards. It is no accident that these two benchmarks are based on imperial crude, American and British, and the irony of this is surely not lost on Baba Beijing (China’s leadership).

China is not selling oil, so the petro-yuan is a futures purchase contract denominated in renminbi for the country to import the stuff. As the world’s biggest importer of hydrocarbons, Baba Beijing has long felt that pricing all its millions of tons of imports should be in its national currency. Why should China pay for Russian natural gas or Venezuelan crude in Western empire’s currency of global financial control, Uncle Sam’s greenback?

Opinions outside China range from being non-plussed, to claiming it is the most important news in modern financial history, but you would have to search far and wide in Eurangloland (NATO, EU, Israel, Australia and New Zealand) and its heavily censored and suppressed media, to see for yourself. Outside the obligatory statement of fact in financial outlets like the Wall Street Journal, Financial Times, Reuters and Bloomberg, silence from the West’s mainstream media is deafening, as this screenshot below shows, when searching the topic. Only one mainstream article showed up on page #1 of the web search and that was CNBC from 2017. Even just looking for “petro-yuan” gives identical results. It’s a Western media black hole.

The West’s censorship and suppression of news that reports the truth about China, Russia and Iran is lethally effective. Hitler called it the Big Lie. Eurangloland learned from a master.

Both end points on the above range of ideas are probably exaggerated. But, the fact that any global oil seller can now buy non-US dollar oil contracts is momentous, for sure. In 1971, Richard Nixon took the US dollar off the gold standard and got OPEC to restrict global hydrocarbon sales to greenbacks. Thus, overnight, the world’s reserve currency was pure fiat money, which is still being kept propped up by the need for the world economy to buy dollars, in order to purchase the most strategic commodity on earth. Here are two ranges of opinion on Nixon’s decision (from this to this).

Many people don’t want to acknowledge that their decision to switch from the US dollar to the euro, by Iraq’s Saddam Hussein and Libya’s Muammar Gaddafi, had a lot to do with their countries being invaded, plundered, destroyed, and then they being killed in a highly humiliating and public fashion. In both cases, once they made the switch, it was just months before they were sacked.

Other, more powerful oil producers have already ditched the greenback, but Western empire only knows how to prey on weaker states, like Grenada, Panama, Serbia, Africa and the like. Iran has already stopped using the US dollar, as has Russia with China, which helps explain the West’s vociferous, self-defeating illegal sanctions and embargos on them.

Both Iran and Russia make Uncle Sam brown the backside of his red-white-and-blue bloomers, as well as for the Zionist state of Israel. I don’t even have to mention Eurangloland’s white knuckle fear of China. The China-Russia-Iran anti-dollar alliance versus the West is causing the latter’s elites to suffer from extreme geopolitical dysentery. Vulnerable, and it has to be said gullible Iraq and Libya, yes – but this towering trio not so much, as they are two of the world’s biggest petro-exporters next door to the biggest importer, and all are armed to the teeth with high-tech military hardware. When you look at the map below, it graphically shows how ridiculous it is for these three players to do business in dollars. New York and Washington are so far, far away.

Whatcha gonna do about it, Eurangloland? There’s not a damn this you can do, short of destroying humanity and the world. Sadly, there are many psychopaths in Washington, Brussels, London and Paris who would prefer that, than accept imperial collapse.

As usual, you have to go outside the Great Western Firewall and its propaganda Big Lie, to see the real world. For those who want to delve deeper, RT has done an informative series of articles and the South China Morning Post (SCMP) has done a couple of good ones.

RT:

https://www.rt.com/business/422314-petro-yuan-futures-dollar-death/
https://www.rt.com/business/422448-china-oil-futures-outstrips-brent/
https://www.rt.com/business/422472-russia-china-petro-yuan/
https://www.rt.com/business/422776-trade-war-petro-yuan/
https://www.rt.com/business/422838-petro-yuan-dollar-gaddafi/
https://www.rt.com/business/423461-petro-yuan-us-dollar-oil/

SCMP:

http://www.scmp.com/business/global-economy/article/2139646/chinas-yuan-denominated-oil-futures-what-took-you-so-long
http://www.scmp.com/comment/insight-opinion/article/2139781/yuan-denominated-oil-futures-mark-significant-move

Comments

Conscious Reviver Mon, 04/09/2018 - 23:14 Permalink

The map is missing many aligned countries, for instance, Turkey, Syria, Iraq, Qatar, Korea, Philippines, Pakistan, Burma, Azerbaijan, the rest of the SCO countries, like all the 'stans. 

Déjà view errorcode99 Tue, 04/10/2018 - 00:40 Permalink

"1. Who cares"...errorcode101

2. Chicom tourists as top international tourists in terms of numbers and spending...

3. Singapore...Japan @ 162 third highest visa free access certainly have tough immigration/visa restrictions.

“Chinese tourists are the most powerful single source of change in the tourism industry.” Taleb Rifai, secretary general of the World Tourism Organisation (UNWTO), stresses every word.

He raises his finger and explains: “Not only is it the biggest domestic market in the world, where 4.4 billion trips are made each year, but it’s also the leading global outbound market, with over 135 million international departures in 2016. This number has been increasing in double digits since 2010 and it’s merely the tip of the iceberg.

“The potential of the Chinese market is far greater, because only 6 per cent of Chinese people own a passport. So we expect 200 million Chinese to travel abroad in just a few years’ time.”

http://www.scmp.com/magazines/post-magazine/long-reads/article/2113116/…

In reply to by errorcode99

J S Bach Conscious Reviver Mon, 04/09/2018 - 23:23 Permalink

It must be noted that Hitler's description of the "Big Lie" in Mein Kampf was not an advocation of it, but rather his understanding of what the jews use as a technique in their media to twist facts, distort reality and ultimately prod the gullible herd to their own cultural and physical destruction.

Big Lie - egalitarianism - all races of men are equal

Big Lie - feminism - men and women are the same

Big Lie - homosexuality - merely an alternative lifestyle

Big Lie - the holocaust - a planned extermination of the jews

Big Lie - diversity/Third World immigration - multiculturalism is a strength and benefits all

Big Lie - usury - fiat currency is a sound monetary policy

Big Lie - Russiagate - a ruse to inflame war sentiments

Biggest Lie - jews are God's "chosen" people.

I'm sure you, dear reader, can add more to the list... as it is endless.  The point is... there is (((one entity))) responsible for the promotion of ALL of them.  Figure it out.

In reply to by Conscious Reviver

Enrabard J S Bach Tue, 04/10/2018 - 04:42 Permalink

Holocaust appeared only since 1942. And it was genocide not of Jews but mostly Poles, jewish Poles, native Poles, all Polish citizens, Gypsies and other minorities. First camps (also Auschwitz) were made for Poles Catholics and elites. It was in 1942 when they started mass murder because capacity of camps to shoot and starve people was not enough to keep up with pace or bringing new waves of people. Jews started acting like nationalists just after war, not before it. Earlier they were just citizens of country - yes tribal in their market practices but they were just smarter and it was easier to make business with other Jew than someone else you had less trust for - and rich Jews were so much minority - the rest was as analphabetic as the rest of population. Yes since 1942 it was planned extermination of people - Poles were also in mass amounts shot on streets. This was war. The same genocide Russians were doing in Syberia by starving and killing people by work in -30 -40 C temperture - later also Stalin starved to death many millions of Ukrainians - just because he could sell wheat and buy means to build bigger industry. West wasn't clean also. Like Churchill who starved to death innocent millions in Bangladesh, not counting what they did with France in Africa, and France in their own country at time of bloody revolution (which was playbook later for Lenin and others)... Hitler views got more and more radical as war was becoming harder and harder. And West didn't want to accept Jews - this is the biggest sin of western jews - these who the most profit on holocaust today - i mean their elites - simple Jews real Holocaust survivors even doesn't get a penny in many cases...

In reply to by J S Bach

Veritas X- Sy Kloine Bee Tue, 04/10/2018 - 00:12 Permalink

Regarding Mein Kampf and the best English-Translation, please use the following as reference material:

https://duckduckgo.com/?q=Mein+Kampf+by+Adolf+Hitler++Published+1941+Re…

&

https://archive.org/details/meinkampf035176mbp

I have this book in my personal library. It is considered a *non-corrupted version* & best translation in English by experts.

Meaning, not corrupted by (((them))).

X-

In reply to by Sy Kloine Bee

LetThemEatRand Mon, 04/09/2018 - 23:17 Permalink

It is no coincidence that the man who orchestrated the petrodollar was Kissinger.  The petrodollar is important for America, sure, but only in the sense that Americans are lucky enough to enjoy having the (current) currency of the bankers.  To me, the only question that matters is whether the bankers decide to ditch the US dollar reserve currency system in favor of some global basket currency, or if they decide the dollar is worth fighting for because other countries are not willing to let them continue printing currency for their own benefit.  Only the owners know where this stands.

Implied Violins LetThemEatRand Tue, 04/10/2018 - 01:13 Permalink

Actually, all of that was decided at least thirty years ago - just check out the embedded Economist article in this post:

https://deusnexus.wordpress.com/2017/09/07/one-world-currency-bitcoin/

Our (((owners))) have done this bullshit for at least six hundred years - and probably ever since Babylon:

https://azizonomics.com/2012/01/04/a-history-of-reserve-currencies-in-one-graph/

And who are our (((owners)))?  Why, check out this research - turns out, only 8 (((families))) have run this scam since the 1700's:

http://www.globalresearch.ca/the-federal-reserve-cartel-the-eight-families/25080

...and if you go back another 5 millennia to Babylon, there are only five more families added if one looks at the maternal side of these (((families))).  Makes one wonder if the reason for women taking the male name was to hide this fact?

All of what is going down right now was PLANNED, long ago; and similar bullshit happened every time there was a change in the world's reserve currency previously...the only difference is that now, world consequences have increased.  Question is: can we stop (((them))) before they kill us all??

 

In reply to by LetThemEatRand

spyware-free Blankone Tue, 04/10/2018 - 00:16 Permalink

Do you ever do the slightest basic research when a thought pops into your head to see if your musings have any basis in reality?
https://www.rt.com/business/418665-russia-banks-ready-shut-swift/
https://www.rt.com/business/422103-russia-swift-shutdown-rosneft/

Also, the U.S. doesn't solely control SWIFT. SWIFT directors themselves have come out and said there is no discussion about cutting Russian access off since they know that would cause a major disruption in oil trade.

In reply to by Blankone

besnook Mon, 04/09/2018 - 23:23 Permalink

china imports 7-8 million barrels of oil/day (bpd). at 60 dollars a can that's 420mil dollars/day taken out of the petrodollar column. it may not seem like much but a system that depends upon dollar expansion for sustenance this is a death blow.

spyware-free besnook Mon, 04/09/2018 - 23:57 Permalink

it won't just be China buying oil on this exchange. Also, with China a major importer of Saudi oil you can bet the kingdom will be divesting those sales from the petrodollar and use the petroyuan. The petroyuan is the number one reason China and Russia are irritating the zio-cons. Their precious lever of control is being diminished.

In reply to by besnook

uhland62 IronForge Tue, 04/10/2018 - 01:51 Permalink

It certainly is but since the MSM do not report on it much, we kind of like to be reminded of where it's currently at. 

With regard to competition to the Petro-Dollar by the Petro-Yuan it follows the simple principle of not putting all eggs in one basket:

不要把所有的鸡蛋放在一个篮子里。

Bùyào bǎ suǒyǒu de jīdàn fàng zài yīgè lánzi lǐ.

.   

In reply to by IronForge

JBL Tue, 04/10/2018 - 00:13 Permalink

wait...how is other countries buyin oil using their own currency a weapon? 

 

wasnt there a guy who said: theres no such thing as a free lunch? >.<

uhland62 JBL Tue, 04/10/2018 - 01:59 Permalink

Every time country A sells oil for the obligatory USD, the US makes some percentage. The USD received need to be exchanged to their own currency.

And those who bought the oil had bought the USD for payment, generating another currency exchange fee. With so much oil being traded for big sums worldwide, the US's percentage in exchange fees must have been substantial or the US would not have defended their monopoly so viciously. 

 

Less money = weapon. 

In reply to by JBL

JibjeResearch Tue, 04/10/2018 - 00:18 Permalink

OBOR was conceived in 2011, put to practice in 2013, changed to BRI in 2017 ...

Our US MAGA wasn't good enough to understand it.

BRICS is the core.... regional markets.  The BRI is an economic war.

Brazil

Russia

India

China

S.Africa

S.Africa mutates to the Continent of Africa when those nations agreed to their FTA. 

ASEAN is on board.

Eastern EU is on board

CELAC is on board

We failed to see it because our morale is corrupted.

VideoEng_NC Tue, 04/10/2018 - 01:54 Permalink

For China to do this they simply can't do currency manipulation like they've done in the past or their petro yuan dollar never sets sail.  This  contradicts what Bloomberg reports earlier today.  China wants their 3rd world cake & be 1st to partake but they're going to have to make a choice.  Maybe they just attack Syria first & get the Gog ball rolling.

lakabarra Tue, 04/10/2018 - 04:05 Permalink

I'm getting bored. When finally does the petrodollar do a real nosedive?

Anyway it did not serve the US, because they got spoiled and instead of working and inventing great stuff they started to import, wage wars and mass survey everyone.