PetroYuan Continues to Chip Away at Petrodollar Supremacy.
In this report I cover the early market action from London on Monday, July 16th, 2018. I look briefly at the precious metals, the stock market and the dollar.
I also do an update on the battle for supremacy between the petrodollar and the petroyuan. According to an article from zerohedge, https://www.zerohedge.com/news/2018-07-15/de-dollarization-chinese-refiner-replaces-us-imports-iranian-crude, the process of "de-dollarization" continues as the trade war between the U.S. and China could now force China to import oil from Iran and West Africa instead of the U.S.
I note that I have spoken several times on this subject of the petrodollar and conclude that more and more countries will start buying oil for yuan instead of dollars as the mechanism for doing so has been in place via the International Energy Exchange in Shanghai since March this year.
To conclude my report I look at a new crypto currency exchange called Chaince that focuses on the EOS blockchain projects.
Chaince: https://chaince.com/
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If most international trade and businesses transaction is been done with yuan currencies this will definately be a major blow to the united States dollar , as it will help to strengthen the Chinese's yuan and makes it a major global currency
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Mario do a piece on the opening of China --- this was done by western elites and was plan all along. David Rockefeller was very instrumental behind the scenes. They went from communism with state owning everything to a neo liberal style capitalism. They have very very rich class especially the children of the eight immortals (the immortals are the founders of modern China after Mao died). Very interesting -- I think China is alot more screwed up then we are lead to believe. Chinese hold gold and their citizens are encouraged to buy gold (unlike in west) -- I think this is the way China will protect itself when the US dollar collapses and their US treasuries are worthless. Your thoughts --
Interesting to see how China manages the Yuan in terms of it strengthening at the expense of their manufacturing industry. We have had some clients already express they are looking at other countries for manufacturing due to the increasing costs in China, a stronger Yuan is only going to make things more difficult in terms of costs.