China’s petro-gold plan to bypass the US dollar
China Gold ‘Panda’ 100 Yuan Coin
Over three months ago, I reported the following:
Both Europe and China want to dominate the world. Currently, on certain matters, they are working together and with other countries, to dethrone the dominance of the USA and its Anglo-Saxon descended allies, like the UK.
As far as the Paris accord goes, many in the mainstream media are pushing the idea that China wants to lead the world in ‘clean’ energy and wants what is best for the environment. And while China certainly would like to dominate more industries and be less polluted, notice also the following:
China is currently modifying the terms of its oil trade with Saudi Arabia. Specifically, China is working on a deal to pay for Saudi oil using Chinese yuan. This effort poses a direct threat to the security of the dollar.
If this China-Saudi deal happens — yuan for oil — it’s another step closer to the grave for the petrodollar, which has dominated global finance since 1974. You can revisit Jim Rickards article about the Assault on the Dollar, here.
To recap, the petrodollar is weakening because the dollar is losing power as the world’s reserve currency. This is similar to the way pounds sterling gradually fell out of favor during the decline of the British Empire. The decline may take a long time, but what we’re seeing today is another step in the death march of the dollar.
Since 1974, Saudi has accepted payment for almost all of its oil exports — to all countries — in dollars. This is due to an agreement between Saudi and the U.S., dating back to the days of President Nixon.
Beginning about 15 years ago, China ceased being self-sufficient in oil, and began buying Saudi oil. As per all Saudi customers, China had to pay in dollars. Even today, China still pays for Saudi oil in U.S. dollars and not yuan, which perturbs China’s leaders.
Since 2010, China’s total oil imports have nearly doubled. According to Bloomberg News, China has surpassed the U.S. as the world’s largest oil importing nation. …
If Saudi begins accepting yuan for oil, all bets are off on the petrodollar. Yuan-for-oil will entirely change the monetary dynamics of global energy flows. I expect the U.S. dollar to weaken severely when that news breaks.
Much of this oil-for-yuan news is public information. Yet, for some strange reason, there’s a form of blindness within western policymaking and media circles concerning the implications of yuan-for-oil. The idea is so “off-the-wall” that many policy leaders simply ignore it. http://www.zerohedge.com/news/2017-06-01/chinas-next-step-destroy-dollar
What is the petrodollar?
Essentially, it is the fact that although the US dollar is no longer backed by gold, since most oil is priced in US dollars, that gives the US dollar a backing in through a needed commodity, hence always insuring that the US dollar will have value. So it is sometimes called a petrodollar–which is broader than the term’s original intent. …
The existence of the ‘petrodollar’ seems to have helped the USA be in a position to increase its debt and that will not end well (cf. Habakkuk 2:2-8; Daniel 11:39).
As far as China goes, it wants more world influence and ultimately domination (watch Is China paving roads to Armageddon?), but the Bible shows that while China will be prosperous for a time, it will be a power from Europe that will essentially dominate the world for the last 3 1/2 years before Jesus returns. (Thiel B. China trying to benefit from US withdraw of Paris accord, while also working to eliminate the ‘petrodollar’. COGwriter, June 2, 2017)
Last year, I reported:
the Chinese see what happened as a step to dethrone the USA dollar as the world’s predominant reserve currency.
Notice something from several days ago:
World Bank backs China’s push to challenge US dollar dominance by selling SDR bonds ahead of G20 summit
World Bank vice-president says more Special Drawing Rights-denominated bonds may be issued after debut sale this week …
The yuan will officially become a component currency in the basket calculating the value of the SDR, offering the yuan nominal international reserve currency status along with the US dollar, the euro, the pound and yen. http://www.scmp.com/news/china/economy/article/2012119/world-bank-backs-chinas-push-challenge-us-dollar-dominance
The idea that putting the Chinese currency in the SDR basket to reduce/challenge the dominance of the USA dollar is obviously not limited to Jim Rickards.
Once the USA does lose its status as the world’s reserve currency, the USA will experience problems 99% of Americans probably do not think is possible. …
the USA has actual, past, and potential enemies as creditors.
Furthermore, consider that while the USA has been accumulating pledges in the form of US Treasury bonds and notes, the Chinese have been accumulating gold (see China, Gold, and the AIIB). Various ones in Europe have been repatriating gold from the USA, like the Germans (see Germany is repatriating and accumulating gold–why?). Germany is getting more gold. The Bible teaches that the final King of the North will accumulate gold and take it from Egypt in Daniel 11:40-43; cf. Revelation 18). (Thiel, B. G20, SDR, China, & JR’s ‘Timetable for the Dollar’s Demise’. COGwriter, September 6, 2016)
Back in March 2015, I reported:
Notice another article about China, gold, and its AIIB:
Gold And Silver – China’s AIIB Spells U.s. Dollar Demise, Not Clear For Precious Metals
The Asian Infrastructure Investment Bank [AIIB]. What is it? Yet another political disaster for the Obama administration as it leaves a wide swath of blunder after blunder in massively failed efforts to keep US allies from aligning with China’s newest anti-US, anti- fiat Federal Reserve “dollar, AIIB. It will not just compete with the World Bank, a US- dominated financial entity, the AIIB will logically replace the World Bank in its own Asian sphere of influence. …
If WWIII breaks out, as an increasing number of voices are expressing, it will be due to the singular effort of the US and no other reason.
Back to the AIIB. It is a clear announcement by the rest of the world that the fiat “dollar,” as a world reserve currency is fading faster and faster away as the leading international currency for settling trade between nations. The AIIB is China’s announcement to the rest of the world that it has had it with the bully tactics of the US, and China wants, is actually closer to demanding that she be given her due respect as a world leading power overtaking the US in increasing measures for what constitutes a new world economic leader.
The AIIB will become a leading lender for new development, particularly in Asia where a lot of new growth and development is underway. This is in sharp contrast to the US that uses warfare as its badge of “economic development,” more like destruction. Just look at Libya, Afghanistan, Iraq, now Ukraine, ongoing attempts to destabilize Syria. Anywhere the US is involved, it is destroying nations. By contrast, China and Russia are making deal after deal for true economic development in and with other countries without immersing those countries in unrepayble debt situations.
China’s AIIB will put an end to that, and the US is very unhappy. The UK agreed to join with the AIIB, much to the consternation of Obama, accusing the UK of “constantly accommodating” China. http://www.marketoracle.co.uk/Article49933.html
The time will come when the US dollar is totally worthless and will stop being a world reserve currency. …
China is trying to take steps. Not all of them will work. However, WWIII will come, and actions by the Europeans, the USA, and others are leading to it. (Thiel B. China, Gold, and the AIIB. COGwriter, March 31, 2015)
Back in 2009, in my book 2012 and the Rise of the Secret Sect, I published the following:
It would seem that once the U.S. dollar totally collapses people all around the world will consider that even if the Euro is strong, having a more gold-backed currency would be safer. Having the European power acquiring a lot more gold to back the Euro (even if the backing is only implied) or possibly other future European currency (that might potentially replace the Euro) may greatly increase European credibility, prosperity, and influence around the globe.
Why is any of this relevant?
Because we are seeing steps to make this happen.
The Germans have repatriated gold, and ahead of schedule (see Germany has brought back its gold and EU approves CETA and/or watch Germany, Gold, and the US Dollar). The German Europeans are also taking other steps towards world dominance (e.g. ‘Undemocratic’ European Union has become a German empire).
Notice also:
September 9, 2017
Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. …
“Venezuela is going to implement a new system of international payments and will create a basket of currencies to free us from the dollar,” Maduro said in a multi-hour address to a new legislative “superbody.” He reportedly did not provide details of this new proposal.Maduro hinted that the South American country would look to using the yuan instead, among other currencies.“If they pursue us with the dollar, we’ll use the Russian ruble, the yuan, yen, the Indian rupee, the euro,” Maduro also said.Venezuela sits on the world’s largest oil reserves but has been undergoing a major crisis, with millions of people going hungry inside the country which has been plagued with rampant, increasing inflation. In that context, the recently established economic blockade by the Trump administration only adds to the suffering of ordinary Venezuelans rather than helping their plight. …
Iran has been using alternative currencies like the yuan for some time now and shares a lucrative gas field with Qatar, which may ultimately be days away from doing the same. …
Nuclear giants China and Russia have been slowly but surely abandoning the U.S. dollar, as well, …
Now Venezuela may ultimately join the bandwagon, all the while cozying up to Russia …
This moves comes just days after The BRICS Summit where Putin unveiled his “fair multipolar world,” which culminated, as Pepe Escobar explained, in the following
Meet the oil/yuan/gold triad
It’s when President Putin starts talking that the BRICS reveal their true bombshell. Geopolitically and geo-economically, Putin’s emphasis is on a “fair multipolar world”, and “against protectionism and new barriers in global trade.” The message is straight to the point. …
And then, Putin delivers the clincher;
“Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies.”
“To overcome the excessive domination of the limited number of reserve currencies” is the politest way of stating what the BRICS have been discussing for years now; how to bypass the US dollar, as well as the petrodollar.
Beijing is ready to step up the game. Soon China will launch a crude oil futures contract priced in yuan and convertible into gold.
This means that Russia – as well as Iran, the other key node of Eurasia integration – may bypass US sanctions by trading energy in their own currencies, or in yuan.
Inbuilt in the move is a true Chinese win-win; the yuan will be fully convertible into gold on both the Shanghai and Hong Kong exchanges. http://www.zerohedge.com/news/2017-09-08/venezuela-about-ditch-dollar-major-blow-us-heres-why-it-matters
As far the Chinese go, they do have a public plan:
Trading Oil for Gold: China’s Gold-Backed Petro-Yuan Market, Threatens the US Dollar?
China recently announced they will trade oil for yuan “backed” by gold. …
We also know China has been a huge importer of gold for the last 4-5 years and done so publicly via Shanghai receipts and deliveries. …
China is now suggesting THEY will be the ones to trade oil and not use the dollar for settlement. Instead, settlement will be in yuan.
… does China want to become the world’s reserve currency? I do not think so as they have seen economies of the issuers of the reserve currency destroyed time after time throughout history. Rather, China wants to lead the parade away from the dollar or at least steer it. Whether via a larger slice of the SDR pie, or another as yet to be introduced currency I do not know.
What we do know: the U.S. is broke and very likely nearly out of gold. …
Wrapping this up, we need to know “what” all this means? Most importantly it means the world will have an alternative to settling in dollars …which means less overall demand for dollars. This alone will weaken the dollar much further than the huge move we have already seen. A weaker dollar will mean much higher prices (inflation) for the imported goods we no longer manufacture at home.
There is a bigger problem here that few are thinking of yet. How will the U.S. settle trade if the dollar becomes so weak it becomes shunned …AND we have no gold for international settlement left? This is a very serious question and one pertaining directly to the standard of living for Americans. …
China is leading a world that is ready to follow in a direction away from dollars. As for gold, it will explode in price in terms of a weakening dollar but there is potentially more. http://www.globalresearch.ca/trading-oil-for-gold-chinas-gold-backed-petro-yuan-market-threatens-the-us-dollar/5608136
China sees new world order with oil benchmark backed by gold
DENPASAR, Indonesia — China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry.
The contract could become the most important Asia-based crude oil benchmark, given that China is the world’s biggest oil importer. Crude oil is usually priced in relation to Brent or West Texas Intermediate futures, both denominated in U.S. dollars.China’s move will allow exporters such as Russia and Iran to circumvent U.S. sanctions by trading in yuan. To further entice trade, China says the yuan will be fully convertible into gold on exchanges in Shanghai and Hong Kong.
“The rules of the global oil game may begin to change enormously,” said Luke Gromen, founder of U.S.-based macroeconomic research company FFTT. …
Yuan-denominated gold contracts were also launched in Hong Kong in July — after two unsuccessful earlier attempts — as China seeks to internationalize its currency. The contracts have been moderately successful.
The existence of yuan-backed oil and gold futures means that users will have the option of being paid in physical gold, said Alasdair Macleod, head of research at Goldmoney, a gold-based financial services company based in Toronto. “It is a mechanism which is likely to appeal to oil producers that prefer to avoid using dollars, and are not ready to accept that being paid in yuan for oil sales to China is a good idea either,” Macleod said. 09/01/17 https://asia.nikkei.com/Markets/Commodities/China-sees-new-world-order-with-oil-benchmark-backed-by-gold
Notice that, “The rules of the global oil game may begin to change enormously.” That means that some see this is a significant step in the demise of the dominance of the US dollar.
It has long been my view that gold would be involved in backing a replacement to the US dollar.
And while the gold-petro-yuan is NOT the final replacement to the US dollar as the world’s primary reserve currency, it is a step that will weaken US dollar dominance.
Dethroning the US dollar will cause massive economic problems for the USA. Much more than almost anyone believes. The standard of living in the USA has been raised/subsidized for years because of the status of the US dollar. That status is weakening. This will ultimately severely hurt the USA.
We are getting closer to the great tribulation (Matthew 24:21; see also When Will the Great Tribulation Begin?) and final time of the Gentiles (Luke 21:24).
Some items of possibly related interest may include:
America’s Day of Reckoning 2017 Dollar Collapse? Economist James Dale Davidson says that a financial bloodbath will hit the USA and there is nothing that Washington can do to stop it. He claims that at least 57 nations have gotten together to dethrone the US dollar as the world’s reserve currency. He claims this can happen any day or in a few months. He mentions China, Russia, the AIIB, and gold. He claims his track record in predicting massive shifts in the past should assure people that he is right about this. He claims that there will be massive unemployment, near elimination of social security benefits, and more. In a post he sent me a link to July 13, 2016, James Dale Davidson wrote, “During the next six months, you will see the stock market plummet by at least 50%, real estate will drop 40%, savings accounts will lose 30%, and unemployment will triple. It’s already starting to unfold.” Is James Dale Davidson possibly right on any of this? Dr. Thiel goes over many of his claims and explains what the Bible shows related to the coming collapse of the US dollar. This is a video.
Can the Bilderberg Group Affect 2017 and Beyond? The infamous Bilderberg Group met in Dresden, Germany from June 9-12 in 2016. This super-secretive group has been meeting since 1954 and has admitted to some subjects it would cover, but blocked out cell phone reception and forbid coverage of the discussions by the media. This is considered THE meeting to be part of for the elites who are working for a global-type of government. It is by invitation only. They are working towards their version of the New World Order as opposed to the good news of the Kingdom of God. At least one top leader apparently attended to try to get the Bilderberg Group’s support for a bid to become the next Secretary-General of the United Nations to replace Ban ki-Moon, whose term ends 31 December 2016. Dr. Thiel explains some of what is going on in the light of end-time biblical prophecies in this video.
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
Eliminate the $100 bill? Various ones, like Harvard economist and Trilateralist Larry Summers have called for the elimination of the USD$100 bill and the 500 Euro note. In Asia, South Korea is heading towards cashlessness by 2020. Electronic currencies are information and subject to monitoring. Did something God inspired the Apostle John over 1900 years ago now able to come to pass? This is a video.
Collapse of the Euro and Dollar? War in 2020? Larry Edelson of Money and Markets described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the ‘granddaddy of all cycles”? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
When Will the Great Tribulation Begin? 2017, 2018, or 2019? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Will the Great Tribulation Start in 2017?
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? What about WWIV? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2026 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Are You Being Called by God? Norman Shoaf wrote various points to consider.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? A YouTube video of interest may be Is China THE Threat to the United States of America?
When Will the Great Tribulation Begin? 2017, 2018, or 2019? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Will the Great Tribulation Start in 2017?
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Could a Donald Trump presidency be apocalyptic? A related video is titled: Donald: ‘Trump of God’ or Apocalyptic?
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.
Donald Trump and America’s Apocalypse This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America’s Apocalypse.
Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Donald Trump and America’s Apocalypse-Kindle Edition.
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