Sunday, 16 September 2012

China Rejects US $$ in Favour of the Yuan


Dollar no longer primary oil currency as China begins to sell oil using Yuan    (excerpts)

  • OIL
  • SEPTEMBER 12, 2012
  • BY: KENNETH SCHORTGEN JR 
  • On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S.dollar since its inception as a currency...
    "On Thursday, Sept. 6... just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar. 

    The world changed last week, and there was nary a word spoken by Wall Street or by politicians who reveled in their own magnificence as this event took place during the party conventions...
    For more on finance and economics, you can follow Ken Schortgen Jr on Twitter, and listen to the weekly economic roundup segment of the Angel Clark radio show from 6-7p.m. est on Friday evenings.




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