Dollar no longer primary oil currency as China begins to sell oil using Yuan (enemy, Obama)

[All American NYC]

Where is Obama on this?

"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...."This has never happened in the history of crude oil. Since crude oil became the motivating force behind our (U.S.) entire economy,...."This has never happened in the history of crude oil. Since crude oil became the motivating force behind our (U.S.) entire economy,

[Earlyretired]

Originally Posted by All American NYC

Where is Obama on this?

He's getting briefed on the plans for WW3...

[edwardianlady]

It was bound to happen eventually.....get over it and get used to it.

[gwynedd1]

This will be interesting.

My guess is China will keep snapping up dollars in a controlled manner. They just inserted themselves like a length of pipe. So we may not see much impact yet. They are trying to aim their consumption at home because of the inevitable slack demand from the US.

[enemy country]

This was predicted wayyy before Obama but feel free to do what has already destroyed us.

[workingclasshero]

Originally Posted by enemy country

This was predicted wayyy before Obama but feel free to do what has already destroyed us.

yes it was PREDICTED that if CHANGES didnt happen this would....and obama FAILED to make the change

[gwynedd1]

Exclusive: U.S. lets China bypass Wall Street for Treasury orders | Reuters

The relationship means the People's Bank of China buys U.S. debt using a different method than any other central bank in the world.

This looks like an action for a controlled exchange rate.

[Swingblade]

Who can blame China ? look at us. Right now we could be facing a credit down grade and we have Wall Street begging Uncle Ben for QE3. It will be interesting to see if we start war mongering against China and Russia.

[KUchief25]

China has been buying up piles of gold to prepare for this. "Our banking system is ready" yep.

[KUchief25]

Originally Posted by Swingblade

Who can blame China ? look at us. Right now we could be facing a credit down grade and we have Wall Street begging Uncle Ben for QE3. It will be interesting to see if we start war mongering against China and Russia.

I'd be doing the same thing if I were China. They have been waiting for the right time and that time is now. Russia is right along with em. Final nail in the coffin.