Another Step Towards an Alternative to the Petrodollar

Another incremental step in the slow moving tsunami that is the PetroYuan.

Monopolies suck, which is why I support the PetroYuan as a viable alternative to the virtual monopoly of the PetroDollar.

A viable commercial alternative to the U.S. Dollar for the global oil trade will add some competition, and competition is good for consumers, and good for pragmatic Capitalism.
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Another Step Towards Collapse of Petrodollar

"For the past year and half a major topic throughout the alternative press has been the new Chinese oil futures contract settled/priced in yuan. The fact that China is directly challenging the Federal Reserve Note, U.S. dollar, is quite a significant change. 

For those that have been paying attention this new futures oil contract is nothing more than the next step in China moving completely away from the Federal Reserve Note, and the “world reserve currency” system and towards a multi-polar world with several currencies being used for international trade. ..."

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Do you know, a friend just told me that the new U.S. sanctions on Iran would be great news for China: they'll just buy Iranian crude for petroyuans and everybody will be happy. Are we seeing what reports like to call a tectonic shift in global currency domination?

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7 minutes ago, Marina Schwarz said:

Do you know, a friend just told me that the new U.S. sanctions on Iran would be great news for China: they'll just buy Iranian crude for petroyuans and everybody will be happy. Are we seeing what reports like to call a tectonic shift in global currency domination?

Marina, I've been writing about and talking about and discussing the PetroYuan for at least a year.

Yes, I think it will have a major impact.

Here's one of my old interviews from last year, where I discussed the PetroDollar and PetroYuan with the host, Ryan Ray over in Texas (via Skype).

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The Global Energy Leaders Podcast

Episode 91 -Tom Kirkman on the Petrodollar

Sep 28th, 2017

On today’s episode, Ryan Ray visits with Tom Kirkman as he returns to The Global Energy Leaders Podcast from Malaysia to discuss the Petrodollar.

 

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I also see a nicely timed boost for yuan crude contracts...

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