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Dollar no longer primary oil currency as China begins to sell oil using Yuan

rockhound60

By rockhound60,
in World Economy

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rockhound60 Newbie

rockhound60

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Dollar no longer primary oil currency as China begins to sell oil using Yuan

<LI class=created content="2012-09-12T08:05:47-06:00" property="dc:date dc:created" datatype="xsd:dateTime">September 12, 2012<LI class=author>By: Kenneth Schortgen Jr

On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S. dollar since its inception as a currency. For the first time since the 1970's, when Henry Kissenger forged a trade agreement with the Royal house of Saud to sell oil using only U.S. dollars, China announced its intention to bypass the dollar for global oil customers and began selling the commodity using their own currency.

Lindsey Williams: "The most significant day in the history of the American dollar, since its inception, happened on Thursday, Sept. 6. On that day, something took place that is going to affect your life, your family, your dinner table more than you can possibly imagine."

"On Thursday, Sept. 6... just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar. -

This announcement by China is one of the most significant sea changes in the global economic and monetary systems, but was barely reported on due to its announcement taking place during the Democratic convention last week. The ramifications of this new action are vast, and could very well be the catalyst that brings down the dollar as the global reserve currency, and change the entire landscape of how the world purchases energy.

Ironically, since Sept. 6, the U.S. dollar has fallen from 81.467 on the index to today's price of 79.73. While analysts will focus on actions taking place in the Eurozone, and expected easing signals from the Federal Reserve on Thursday regarding the fall of the dollar, it is not coincidence that the dollar began to lose strength on the very day of China's announcement.

Since China is not a natural oil producing nation, the question most people will ask is how will the Asian economic power get enough oil to affect dollar hegemony? That question was also answered by Lindsey Williams when he pointed out a new trade agreement that was signed on Sept. 7 between China and Russia, in which the Russian Federation agreed to sell oil to China in any and all amounts they desired.

Lindsey Williams: "This has never happened in the history of crude oil. Since crude oil became the motivating force behind our (U.S.) entire economy, and everything in our lives revolves around crude oil. And since crude oil became the motivating factor behind our economy... never, ever has crude oil been sold, bought, traded, in any country in the world, without using the American dollar."

"Crude oil is the standard currency of the world. Not the Yen, not the Pound, not the Dollar. More money is transferred around the world in crude oil than in any other product."

"On Friday, Sept. 7, Russia announced, that as of today, we will supply China with all of the crude oil that they need, no matter how much they want... there is no limit. And Russia will not sell or trade this crude oil to China using the American dollar." -

These duo actions by the two most powerful adversaries of the U.S. economy and empire, have now joined in to make a move to attack the primary economic stronghold that keeps America as the most powerful economic superpower. Once the majority of the world begins to bypass the dollar, and purchase oil in other currencies, then the full weight of our debt and diminished manufacturing structure will come crashing down on the American people.

This new agreement between Russia and China also has serious ramifications in regards to Iran, and the rest of the Middle East. No longer will U.S. sanctions against Iran have a measurable affect, as the rogue nation can simply choose to

to China, and receive Yuan in return, and use that currency to trade for the necessary resources it needs to sustain its economy and nuclear programs.

The world changed last week, and there was nary a word spoken by Wall Street or by politicians who reveled in their own magnificence as this event took place during the party conventions. A major blow was done on Sept. 6 to the American empire, and to the power of the U.S. dollar as the world's reserve currency. And China, along with Russia, are now aiming to become the controllers of energy, and thus, controllers of a new petro-currency.

http://www.examiner.com/article/dollar-no-longer-primary-oil-currency-as-china-begins-to-sell-oil-using-yuan

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despain Newbie

despain

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Everyone better buy bread. LOL! This is where we are, and if this thing does not go down real quick, we are screwed. We went after Sadam for trying to do this. China is a little different. We are getting pushed around, folks. This guy in charge could care less. That is my opinion, and we are in a lot of trouble. My dollar, your dollar, and the entire world's dollar is about to buy a lot less...if this happens. Again...just my opinion.

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Jmasters Newbie

Jmasters

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Everyone better buy bread. LOL! This is where we are, and if this thing does not go down real quick, we are screwed. We went after Sadam for trying to do this. China is a little different. We are getting pushed around, folks. This guy in charge could care less. That is my opinion, and we are in a lot of trouble. My dollar, your dollar, and the entire world's dollar is about to buy a lot less...if this happens. Again...just my opinion.

Years ago this would have been unheard of.Now with Bowing Barack were not being taken seriously.If anyone still has any doubts as to why he needs to be voted out of office now, there is no help for those folks.

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Butifldrm Apprentice

Butifldrm

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Thanks Rockhound

This should have been front page news

Yes I agree Socal. The majority of economic news pertinent to the destruction of the dollar is not found within the mainstream media. I am working furiously to move into hard assets. It is icredably hard especially when your money is held in 401K's. I pray God has his hand on this whole thing.

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Laid Back Veteran

Laid Back

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Over the past few years, China and other emerging powers such as Russia have been been quietly making agreements to move away from the U.S. dollar in international trade. The supremacy of the U.S. dollar is not nearly as solid as most Americans believe that it is. ;)

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yota691 Grand Master

yota691

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I just read the book AFTERSHOCK about the Next Global Financial Meltdown And the Major decline of the DOLLAR, and I suggest you all do as well.

Don't know why you got Neg for speaking the Truth!! I plus ya!! I say 50% drop in the USD value, for at least 10 more years!! O so get use to it, Or make a Change in Nov and Pray for true Change!! Neg away!!! The Dollar value Drops, doesn't mean everything else drops, it goes up!!

Edited by yota691
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Dinar_o'saurs Newbie

Dinar_o'saurs

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I just read the book AFTERSHOCK about the Next Global Financial Meltdown And the Major decline of the DOLLAR, and I suggest you all do as well.

Funny you should mention Robert Wiedemer I posted an article which referenced him yesterday & found the full length interview of AFTERSHOCK.

Don't know why you got Neg for speaking the Truth!! I plus ya!! I say 50% drop in the USD value, for at least 10 more years!! O so get use to it, Or make a Change in Nov and Pray for true Change!! Neg away!!! The Dollar value Drops, doesn't mean everything else drops, it goes up!!

True Yoda..... some are even saying up to 90% market corrections!! I referenced the article above that I posted.

Thanks for your timeless efforts.

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elmstreet61 Newbie

elmstreet61

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Everyone better buy bread. LOL! This is where we are, and if this thing does not go down real quick, we are screwed. We went after Sadam for trying to do this. China is a little different. We are getting pushed around, folks. This guy in charge could care less. That is my opinion, and we are in a lot of trouble. My dollar, your dollar, and the entire world's dollar is about to buy a lot less...if this happens. Again...just my opinion.

I agree...but you know...and don't get me wrong...I am not an America hater....but your gov along with mini-me Israel have been the world bullies for quite some time.

History repeats.....and just like the rise and fall of Rome...we're staring down the barrel of the fall of America.

Don't neg me for saying that....I love you guys really....but unfortunately...your gov and fed banksters have had yor fall in their sights...so don't shoot the messenger...it's all part of their plan.

Better get ready for a rough ride you guys. Do not put that off any longer..get prepped...get food and water etc etc...And God bless you.

Yes I agree Socal. The majority of economic news pertinent to the destruction of the dollar is not found within the mainstream media. I am working furiously to move into hard assets. It is icredably hard especially when your money is held in 401K's. I pray God has his hand on this whole thing.

So tell me...are your 401Ks locked in? Here in Australia, we can choose whether we have a managed retirement fund...or a self managed one.

As a business owner, I have a self managed one...and I can do what I like with that money, as long as it BENEFITS the retirement fund account...so if I want to use the cash in that account to buy stocks or the hard stuff, I can.

Is it not the same for you guys?

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Brisco Apprentice

Brisco

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Don't know why you got Neg for speaking the Truth!! I plus ya!! I say 50% drop in the USD value, for at least 10 more years!! O so get use to it, Or make a Change in Nov and Pray for true Change!! Neg away!!! The Dollar value Drops, doesn't mean everything else drops, it goes up!!

Thank you for the pos. Yoda

I must thank you for all the bird dogging you do for all of us.

Funny you should mention Robert Wiedemer I posted an article which referenced him yesterday & found the full length interview of

AFTERSHOCK.

Dinar_o' I also viewed the Wiedemer interview as well. That is what motivated me to purchase the book and the new release coming out tomorrow 9/18/2012

True Yoda..... some are even saying up to 90% market corrections!! referenced the article above that I posted.

Thanks for your timeless efforts.

Yoda I think your right a lot of people are going to have to learn to get by with less "back to basics" if you will.

After reading this book and learning more, I will certainly look at any new found wealth with a different vision.

I have had each family member read this book as well so they understand decisions I will be making from this day forward.

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yota691 Grand Master

yota691

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Here another article to go with Rockhound60

Dollar near its lowest level in 7 months of his stimulus measures

dollar-banknote-17092012-300x224.jpg

Economy | September 17, 2012

New - London: the dollar hovered around its lowest level in seven months against a basket of currencies on Monday and is expected to remain under pressure after the Federal Reserve began (the U.S. central bank) cash Thiv plan last week.

And raised the dollar's decline on recent speculation that the Bank of Japan may consider its role in facilitating monetary policy in a two-day meeting until next Wednesday if the yen continues to climb.

And stuck euro strength against the dollar after hitting its highest level in four months last week, but some analysts said investors may want to take profit at these levels.

The euro settled at 1.3115 dollars shy of its highest level in four months of 1.3169 struck on Friday on trading platform E. P. S. And rose by six percent from the lowest level in two years of $ 1.2042 hit in July.

The dollar index 78.872 after falling to 78.601 on Friday, a level not recorded since February.

The Federal Reserve said last week it would buy mortgage securities worth 40 billion dollars a month until the labor market improves significantly. The move increased the investors' appetite for assets they deem high risk while impacted negatively on the dollar.

The dollar fell 0.1 percent to 78.32 yen stable above the lowest level in seven months 77.13 yen struck on Thursday after the U.S. central uncovered monetary stimulus plan.

http://aljadidah.com/2012/09/%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%82%D8%B1%D8%A8-%D8%A3%D8%AF%D9%86%D9%89-%D9%85%D8%B3%D8%AA%D9%88%D9%8A%D8%A7%D8%AA%D9%87-%D9%81%D9%8A-7-%D8%A3%D8%B4%D9%87%D8%B1-%D9%85%D8%AA%D8%A3%D8%AB/

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uncirculd Newbie

uncirculd

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Posted (edited)

Over the past few years, China and other emerging powers such as Russia have been been quietly making agreements to move away from the U.S. dollar in international trade. The supremacy of the U.S. dollar is not nearly as solid as most Americans believe that it is. ;)

The Bric countries trying to squeeze the dollar. Yeah, and our media hides it from us? I think they have another plan. They are always up to something or another.

If you read alan greenspans book it would make you sick. It funny because many of us here know it's coming, and you got so many bubble heads out there that don't have a clue, nor do they care.

Edited by uncirculd
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