China Game Changer: Will Petroyuan or Gold Replace Petrodollar System?

Discussion in 'General Precious Metals Discussion' started by Silver2012, Nov 29, 2013.

  1. Silver2012

    Silver2012 New Member

    Joined:
    Jul 23, 2012
    Messages:
    237
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Toronto, Ontario
    China, Iran and Russia seem to be moving away from the petrodollar. What effect will this have on the USD & gold?

    [youtube]http://www.youtube.com/watch?v=dF1Pkdf5nlc[/youtube]
    www.DailySilverUpdate.com

    A large amount of demand for U.S. dollars comes from this arrangement and if it were to change, the dollar would suffer. China is already moving to buy all of its oil in yuan while Russia and Iran have already started to transact in yuan.
     
    Silver2012, Nov 29, 2013
    #1
  2. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,653
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    Absolutely.

    China is now the biggest importer of oil so more and more reason for the producers to take Yuan for the oil rather than dollars.
     
    trew, Nov 29, 2013
    #2
  3. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

    Joined:
    Jun 18, 2012
    Messages:
    4,656
    Likes Received:
    72
    Trophy Points:
    48
    Location:
    NSW
    If the US keeps shunning Saudi Arabia over Iran and Syria it could happen a lot quicker
     
    Caput Lupinum, Nov 29, 2013
    #3

Share This Page