This Would Be A Good Time To Buy Yuan As A Hedge Against The US Dollar While China Is Actively Working To End The Petro-Dollar

China’s been busy. This would be a good time to buy yuan as a hedge against the US fiat dollar.
7.000 yuan = $1372
https://www.sterlingcurrencygroup.com/buy-currencies.html

Yuan reaches record high against the US dollar

Further appreciation predicted, which would fuel inflation on the mainland and in Hong Kong
http://www.scmp.com/news/article/1213468/yuan-reaches-record-high-against-us-dollar
Petrodollar:
A petrodollar is a United States dollar earned by a country through the sale of its petroleum (oil) to another country.^[1] The term was coined in 1973 by Georgetown University economics professor, Ibrahim Oweiss, who recognized the need for a term that could describe the dollar received by petroleum exporting countries (OPEC) in exchange for oil.
http://en.wikipedia.org/wiki/Petrodollar

How the Chinese currency is replacing the U.S. Dollar in global oil markets
April 17, 2013 – 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.
With their industrial base all but gone, the housing market bubble popped, and the Federal Resereve funding the majority of the government debt with printed currency, the American economy can ill-afford a new challenge to its currency’s reserve status. It is this very reserve status which has led to America being able to consume more than it produces for decades upon decades as foriegn countries were willing to trade consumer products for paper IOU’s. 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. OPEC has confirmed on April 4th of this year that they expect China to surpass the United States as the world’s largest oil importer in 2014. This shift in global oil flows is being driven by the twin pillars of a booming Chinese economy and America’s newfound booming domestic oil and gas supply. This shift in the oil trade carries with it massive geopolitical implications that will reshape the world as we know it.
http://www.financialsense.com/contributors/dan-collins/rise-petro-yuan
China and Iceland seal free trade agreement
http://www.france24.com/en/20130415-china-iceland-seal-free-trade-agreement
15 APRIL 2013 – AFP – Iceland became the first European country to sign a free trade agreement with China on Monday, as Beijing looks to gain a foothold in the strategic Arctic region
Xi calls for enriching Sino-French partnership
http://news.xinhuanet.com/english/china/2013-04/12/c_132304781.htm

BEIJING, April 12 (Xinhua) — President Xi Jinping said Friday that China and France should deepen mutual trust, enhance cooperation and enrich bilateral comprehensive strategic partnership. Xi expressed his belief that the development of China-France relations benefits not only the two nations and the two peoples, but is also conducive to constructing new patterns for developed nations to work with emerging economies and developing nations, boosting China-European Union relations and making progress in the multi-polarization and democratization of the international relations.
China and Australia in currency pact
http://www.bbc.co.uk/news/business-22075345
The Australian dollar has become the third currency, along with the US dollar and the Japanese yen, to trade directly with the Chinese yuan.The move is seen as a significant step in China’s push for a more international role for its currency. Beijing is trying to promote the yuan as an alternative to the US dollar’s role as a global reserve currency. China is the biggest buyer of Australia’s natural resources such as iron ore. But with no mechanism in place to directly convert between the Australian dollar and the Chinese yuan, the two countries have long used the US dollar as a trading currency. Indeed, most commodities and commodity futures are priced using the US currency. There is no international law that dictates that all contracts must be agreed upon in US dollar terms” With the new deal coming into effect, there is likely to be an increase in Australian and Chinese firms agreeing prices in either of their currencies. “There is no international law that dictates that all contracts must be agreed upon in US dollar terms,” said Mr Oakley.
“All that the companies have to do is pick up the phone, talk to each other, and decide what currency they want to use.”
China and Brazil sign $30bn currency swap agreement
http://www.bbc.co.uk/news/business-21949615
China and Brazil have signed a currency swap deal, designed to safeguard against future global financial crises. Along with being the world’s second-largest economy, China is also Brazil’s biggest trading partner. “If there were shocks to the global financial market, with credit running short, we’d have credit from our biggest international partner, so there would be no interruption of trade,” said Guido Mantega, Brazil’s economy minister. The agreement was signed on the sidelines of the fifth Brics (Brazil, Russia, India, China and South Africa) summit being held in Durban, South Africa.
UK and China poised for currency swap deal
http://www.bbc.co.uk/news/business-21552601
The Bank of England is in negotiations with its Chinese counterpart on a deal likely to boost trade between the UK and China in the yuan. The Bank and the People’s Bank of China are close to signing a three-year currency swap arrangement, governor Sir Mervyn King said. The UK is looking to become a centre for the Chinese currency, also known as the renminbi. Such agreements allow central banks to swap currencies and can be used by firms to settle trade in local currencies rather than in US dollars, as happens now, since China’s currency is not fully convertible to other currencies.
G20 considers wider role for China’s yuan
http://www.bbc.co.uk/news/business-12905205
G20 leaders have moved towards agreeing that China’s currency should have a wider role in global finance.
Iraqi oil: Once seen as U.S. boon, now it’s mostly China’s
http://www.mcclatchydc.com/2013/03/27/187100/iraqi-oil-once-seen-as-us-boon.html
WASHINGTON — Ten years after the United States invaded and occupied Iraq, the country’s oil industry is poised to boom and make the troubled nation the No.2 oil exporter in the world. But the nation that’s moving to take advantage of Iraq’s riches isn’t the United States. It’s China. The International Energy Agency expects China to become the main customer for Iraq’s vast oil reserves. Fatih Birol, the agency’s chief economist, recently declared “a new trade axis is being formed between Baghdad and Beijing.” Birol said that about 80 percent of Iraq’s future oil exports were expected to go to Asia, mainly to China.
The Tower of Basel: Secretive Plans for the Issuing of a Global Currency
http://www.globalresearch.ca/the-tower-of-basel-secretive-plans-for-the-issuing-of-a-global-currency/13239


Reality Check: Is This The End of The Petro-dollar?


Alexander