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RE: Petro Yuan Just Launched! U.S. Petrodollar DOOMED as China Attempts To Control Oil Market!
The relevance of the US dollar will take a hit and its dominance as a reserve currency will surely be impacted as well. How long will the transition take and who (or what) will replace it?
My personal belief is that there will be a major crisis and the world powers will get together and decide what the next monetary system will be. It will be some sort of global currency to back the nations currencies. Something like the IMF SDR.