Rise of ‘PetroYuan’ is a step in the demise of the US dollar

Chinese Renminbi Yuan

Overseas steps keep being taken to eliminate the US dollar as the primary reserve currency in the world:

Rise of the PetroYuan

How the Chinese currency is replacing the U.S. Dollar in global oil markets

A growing number of nations want to replace the dollar as the History is being written in the East. As the U.S. stays distracted with stone age warriors in Central Asia and the Middle East, the last platform of the American economic foundation, the U.S. Dollar’s currency reserve status, is being underminded by their trade partners in Asia. Both Australia and Japan are set to start direct-trading in Chinese currency and they are not the only ones. There are almost 20 countries whom have currency swaps in place with China all in order to side-step the U.S. Dollar in global trade. At the China Money Report, we have written extensively on the “Rise of the Renminbi”. What is new and largely unreported and what we will cover in this article is the “Rise of the Petroyuan,” as China is now converting its oil imports into Chinese Yuan as opposed to U.S. Dollars. This will be a new challenge and possibly the fatal blow to the U.S. Dollar as the dominant global reserve currency…

The Dollar’s reserve status came about naturally after WW2 as the U.S. was the world’s larget trading nation, exporter, and creditor. Today, China occuppies all of these slots.

China will soon occupy a new slot: That of the world’s largest oil importer…

Recent reports from Reuters, have confirmed that China is now trading their own domestic currency, the Yuan, for oil. Both Russia, and Iran are now using Yuan for oil sales to China. Venezuela is sure to follow. With Russia and Iran accepting Yuan for oil that means there are now almost 1 million barrels per day being exchanged for Yuan instead of USD. Angola can be expected to move oil sales into Chinese Yuan if they haven’t already. Over half of their oil sales are now to China. http://www.financialsense.com/contributors/dan-collins/rise-petro-yuan

Now, some have gotten very excited about this, but others realize that China has issues:

…news that Brazil and China have signed a $30 billion currency swap agreement gave a renewed boost to excited chatter over the rising influence of China’s currency, the renminbi (RMB). The belief, in many quarters, is that the RMB is well on its way to becoming an “international” currency — and many, both inside and outside China, are convinced it will inevitably eclipse the U.S. dollar as the world’s leading reserve currency. China is destined to surpass the U.S. as the world’s largest economy, the thinking goes, so just like everyone uses dollars now, they will soon be using RMB…

I would argue that this excitement is vastly over-hyped…Because China’s domestic markets are mostly closed to foreigners, and the RMB isn’t freely convertible, moving money into and out of Chinese investments isn’t easy. That may be gradually changing, but it won’t happen overnight…

The main point that a lot of people miss: for the RMB to become a truly global currency, China’s entire relationship with the rest of the world economy would have to change, in ways the Chinese have strongly resisted so far. http://www.theatlantic.com/china/archive/2013/03/is-the-chinese-renminbi-the-next-global-reserve-currency/274454/

Now while most people probably think that China has potential (and it basically should), it also has problems. It will be Europe, and not China, that will become the world’s leading economic power. China has many issues that will prevent it from being truly on top, though it is getting wealthier.

The USA on the other hand is getting poorer. It just does not know it.

Now the point of this post is not really China, but the US dollar. What is happening in Asia, and elsewhere, shows that the world is moving away from the US dollar. All the arrangements that the Chinese and others are doing are making it easier for the ultimate break from the dollar.

Notice some of what I wrote in my book Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term:

Notice what the Hebrew seer Habakkuk wrote over 2,600 years ago:

³ For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry… ⁵ Indeed, because he transgresses by wine, He is a proud man…⁶“Will not all these take up a proverb against him, And a taunting riddle against him, and say,
‘Woe to him who increases
What is not his—how long?
And to him who loads himself with many pledges’?
⁷Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. ⁸ Because you have plundered many nations, All the remnant of the people shall plunder you…” (Habakkuk 2:3,6–8).

Hence, Barack Obama seems to currently be fulfilling the part of that prophecy in verse 6 of increasing pledges/debt. And he will do more to fulfill it. This Habakkuk prophecy, if it is applicable to the U.S.A, also suggests that American dollars will ultimately be of no value to creditors around then (or to probably anyone else).

Interestingly, one foreign creditor, China, has raised concerns about the U.S. debt that are so serious, that its potential dumping of that debt has been called China’s “nuclear option” (Gertz B, China Debt Threat. Washington Times, March 2, 2011) against the U.S.A.—an option that involves no military intervention, but that could greatly harm the U.S.A.

The Bible clearly warns against cheapening the money supply and encourages having it hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Barack Obama’s policies, following certain other administrations, have ignored these warnings.

Furthermore, the time will come when the U.S.A. government will no longer be able to borrow at low interest rates and/or it will create more money electronically and/or via the printing press to try to continue. Massive inflation is coming. Make no mistake about it, the U.S.A. dollar will ultimately crash and be worthless. That “pride” of American power will be broken (cf. Leviticus 26:19)…

Since the Roe vs. Wade decision in 1973, the U.S.A. switched from being a creditor nation and instead has become the greatest debtor nation in the history of humankind—perhaps this is resulting in a biblical curse? Because the U.S.A. owes alien nations trillions of dollars, it appears that the curse in Deuteronomy 28:44 of having to borrow from aliens is happening now. President Barack Obama has put forth economic policies that will (for at least several years) greatly increase that debt and ultimately interest rates—this is something that the U.S.A. will not truly be able to afford. Increasing national debt will lead to destruction at the appointed time of the end (Habakkuk 2:3–8). Others will not be able to reverse enough of the debt to stop Habakkuk 2:3-8 from being fulfilled…

The credit rating for the U.S.A. will drop further (though it could temporarily improve).

When the U.S. dollar is no longer the de facto reserve currency for the world, this will hurt the U.S.A. financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will punish the U.S.A. for (cf. Ezekiel 22:13-16). Inflation will eventually hit the U.S.A. extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the U.S.A. Eventually, and not in Barack Obama’s second term, the U.S.A. dollar will become worthless. (Thiel B. Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term. Nazarene Books, 2013, pp. 14-15,45-46,67)

I would also add that WHEN the USA has to increase interest rates, this will lead to a downward spiral, that while it likely will have some “ups”, while result in the USA being taken over and destroyed. The Bible warns about the indebted one getting taken over by its creditors at the appointed time of the end (cf. Habakkuk 2), and the USA is currently the greatest debtor nation in the history of the world. And after interest rates rise for the USA dollar, it will be worse in the USA than almost any economist will publicly admit.

The USA dollar will be replaced. Nations around the world are taking steps to replace it, and the USA itself continues to increase debt, which will help make the replacement of the US dollar biblically required.

Some articles of possibly related interest may include:

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.
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?
Abortion, the Bible, and a Woman’s Right to Choose Do you know what the Bible teaches on this? Has the Roman Catholic Church allowed abortions? What about the real Church of God? Some may also, or instead, wish to view the YouTube video Abortion, the Bible, and US Debt.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-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 the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves?
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. 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 Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.