On March 26 China will finally launch a yuan-dominated oil futures contract. Over the last decade there have been a number of “false-starts,” but this time the contract has gotten approval from China’s State Council.
The Chinese yuan hits a multi-year high against the dollar
Having seen the US dollar fall heavily against all major currencies, except the Japanese yen, on Monday, the People's Bank of China (PBOC) set the midpoint for the USD/CNY on Tuesday at 6.2816, its lowest level since August 11, 2015.
>Attaching the value of the Yuan to oil >To challenge the USD >A country which on top of possessing a massive domestic supply of oil, is politically aligned with 7 of the 10 highest producing oil nations in the world
How is this a good idea again?
Ian Carter
>rather submit to Chinese than Americans Yikes but expected from a frog
Owen Russell
We aren't submitted to China. If they become the world most country, it is unlikely that we will allow them to treat us like dogs like the US do.
Benjamin Ross
What do you even know how it is to be treated like a dog by the USA...
Evan Diaz
and what oil producing countries are courageous enough to accept yuan in lieu of the dollar?
>RT What's with all the fucking Russian shills today?
Aiden Nguyen
>it is unlikely that we will allow them to treat us like dogs like the US do. You regularly tell us to fuck off. If you're a dog you're a shitty one.
Jonathan Clark
ah yes, the imperialist decadent pig dog west will collapse any day now, putin today told me so
Jayden Powell
omg im so fucking prepared
Jonathan Rodriguez
On trade, maybe. But not on military affairs. You would never have accepted what you forced on us in the galileo system, and for good reasons. It is total, utter submission.
Mason Wood
about fucking time
Bentley Moore
this will collapse out weak economy, rip
Blake Morris
Can't wait for this. How much more do we have to wait before the dollar enter in an uncontrolled spiral of inflation?
William Howard
>yuros have such an inferiority complex they would rather the entire west crash and burn and submit to Chinamen than have the US stay more powerful than them
Yeah, they've been building infrastructure and factories all over Africa.
Dominic Allen
I find it hard to believe just that would be enough to destroy the US.
Alexander Ross
You haven't read rt. This is just the servility armenian propaganda for Putin.
Aaron Gonzalez
*Haven't to
Adam Reed
We already sell them the oil for thin air.
Asher Harris
That's part of the long-term plan
Austin Wood
>The dollar is dead! >This time for sure! >Soon, very soon
Christian Reyes
I'm ready for the violent balkanization of the US
Jordan Brooks
It didn't
Eli Morris
It's probably unlikely. The only thing less likely is the violent balkanisation of the UK.
Cooper Mitchell
Why exactly, do you think its unlikely? I'm not memeing or anything. Its feels like this country is ready to tear itself apart.
Jacob Lopez
>it is unlikely that we will allow them to treat us like dogs like the US do. Tell that to your corporate overlords. They'll buy your country out when they get big enough.
Liam Davis
Cali could tear itself off, and I were to go on a stretch New England doesn't particularly gain anything from being in the Union, but otherwise I can't really see any other states getting out.
Jacob Brown
You don't unironically believe this, do you? We're more culturally homogenized that ever before. The entirety of the Mid-West didn't even know English for the longest time, the Mormons are like another species of human, so on and so forth, if it didn't happen then (and they tried), it ain't happenin' now. The only likely course of this ever occuring if something big like gun rights was taken away. I know city dwellers and foreigners like to meme about preppers and lardass conservitards getting gunned down or drone struck, but I can't count the times on my fingers and toes that the Feds and ATF have been told to fuck off by local and state law enforcement. I know southern California is rapidly getting CHI'd, but that's definitely not enough.
Eli Stewart
China will take over the world I already secured a chinese girl Learning chinese before time is up
Also don't fucking believe RT shills, russians are fucking trolling the entire world This won't matter when China 1984's everyone everywhere
Chase Miller
it is legit an oil-backed currency though
Joseph Peterson
Backing your currency with the price of oil to try and challenge the USD is so absolutely retarded I refuse to believe the Chinese would actually be that stupid. The US and their North American and Middld Eastern allies have an unbelievably massive influence over the global distribution and consumption of oil. It is the single easiest commodity for the US to intentionally fuck with.
Oil is the last thing China would ever want to attach their currency to.
Xavier Smith
Let it happen, the sooner the better. This will kill all the liberals that is poisoning every country.
