THE GOLDEN PETRO-YUAN AND THE CHINESE BRIDE IN THE ARABIAN DESERT
China is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold. Such a move not only has the potential to drastically change the rules of the global oil game but could also have consequential economic and geopolitical ramifications. Could this measure be a mere response to a perceived US proclivity to use the dollar and economic sanctions as a means of geopolitical coercion? Or could this be the end of Bretton Woods II happening before our very eyes? Is China just leading a parade away from the dollar to secure a larger slice of the SDR pie? Or could China be poising itself to ring the passing bell of the Petrodollar system? Is it even possible for Saudi Arabia to start pricing oil in Chinese yuan? Then, how likely is a scenario in which Saudi Aramco could serve as the bride in a “Heqin 和親”, or marriage alliance, between the house of Saud and Zhong Guo (China)?
http://volguard.com/General/Pages/InformationGridsDetail.aspx?id=2349&t=2048
Good read… That wind is blowing in another direction…
WtR