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Another nail in the coffin of the petrol dollar?


mr-dead

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  • 1 month later...

I've been having a closer look at the information now that

there's been a while for those in authority to dispute any

claims.

if true what I believe is that it has nothing to do with gold.

oil producers can currently sell oil to china in dollars and

then use those dollars to buy gold if they so wish. if china

is trying to get oil producers to accept yuan and then if they

so wish to convert those yuan, then oil producers who want

gold for their oil will get a similar amount of gold. it's not

about gold or more demand for gold but china trying to

replace oil traded in dollars by using yuan as payment.

 

HH

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China entered the SDR system last year. They have long abandoned the idea of an alternative currency to the dollar. The SDR will be the next reserve currency. 

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