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updated Wed. August 10, 2022

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Thus, the petro-dollar also plays a critical role in generating global confidence in the dollar. And in currency markets, confidence is king. The widespread pricing and trading of crude in yuan, or the petro-yuan, would shake this global confidence and simultaneously serve a number of strategic purposes for ...
A new war of words has broken out between Washington and Caracas after President Donald Trump banned the use of the oil-backed cryptocurrency launched by Venezuela in a bid to undermine the dominance of the petro-dollar. Trump signed an executive order late on Monday prohibiting trade in the ...

David discusses an emerging international market dynamic that some think may threaten US dollar hegemony. While left-leaning news media focus on alleged call girl encounter by President Trump, they say nothing of newly formed futures exchanges in Shanghai for both oil and gold. They ignore the fact ...
The knock-on political risks of switching from petro-dollar to petro-yuan are alarming. Despite globalwide skepticism, Chinese media report that the plan for yuan-oil contracts is moving swiftly. And that's just oil, of which China consumes approximately 12 percent globally, according to the World Economic ...
The knock-on political risks of switching from petro-dollar to petro-yuan are alarming. Despite globalwide skepticism, Chinese media report that the plan for yuan-oil contracts is moving swiftly. And that's just oil, of which China consumes approximately 12 percent globally, according to the World Economic ...

According to him the petro dollar boom is over as commodity prices have collapsed leading to the need for hard choices to be made on how to expend the little available resources and new sources of generating revenue. “Headline inflation has breached the single digit rule, real Gross Domestic Product ...
Venezuela's oil-backed Petro Dollar cryptocurrency, or El Petro as it's locally known, has officially entered the pre-sale stage. And appropriately enough for a cryptocurrency, it's being largely held up in state media as a method of dodging the "illegal sanctions" imposed by the USA. "El Petro was created by ...

Outside of the West, significant moves are being made to dethrone the petro-dollar, with support from Non-OPEC and OPEC members alike. The leader of this charge? China. With the launch of its yuan-priced oil futures, China is aiming to persuade the world's oil majors to trade crude in its national currency. While the ...
Why petro-yuan is posing little threat to petro-dollar. December 09 2017 12:14 AM. Business. RELATED STORIES. An employee arranges yuan banknotes at the Korea Exchange Bank headquarters in Seoul. China's moves to set up trading oil in yuan have sparked enthusiasm about what could be a shift in the global ...
(Bloomberg) -- China's moves to set up trading oil in yuan have sparked enthusiasm about what could be a shift in the global financial system: a reduced role for the U.S. dollar. Players like Adam Levinson, founder of hedge fund Graticule Asset Management Asia, call it a "huge story" to come. But with ...
... one of the largest exporters of oil in the world have agreed to use the petro-Yuan to bypass the petro-dollar. The petro-Yuan threatens the U.S. dollar's hegemony around the globe as several nations have recently demonstrated as they all share an interest in joining the transition from the U.S. dollar to the ...
The imminent introduction of oil trading in yuan is a very bold move by the Chinese, because the US will not give up the basis of its hegemony – the dollar as the world's reserve currency – without a fight, Max Keiser, host of RT's financial program 'Keiser Report' has said. The Chinese plan to roll out a ...
We have been listening to the non-stop demonization of Russia by the mainstream media and many U.S. politicians, since the election. We all know where this kind of demonization leads. It leads to war. Think about that: War between the United States and Russia. How quickly would that evolve into ...
It will help Chinese buyers to lock the future oil prices and pay in their local currency, giving an answer to Uncle Sam by pitching of Petro-Yuan against Petro-Dollar. The most important part of the Chinese strategy is that they have located this “Shanghai International Energy Exchange Program” in their Free ...
This meant that US could get away by having a 20 thousand billion dollars budget deficit as it could print the dollars backed by “black gold”. What does it mean to challenge America by competing against the ultimate economic tool, the petro-dollar? As the prospect of petro-yuan becomes a reality, China will ...


 

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