NEW DELHI/LONDON, March 8 (Reuters) - U.S.-led international sanctions on Russia have begun to erode the dollar's decades-old dominance of international oil trade as most deals with India - Russia's top outlet for seaborne crude - have been settled in other currencies. Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in yuan, people familiar with the matter said, a move that would dent the U.S. dollar’s dominance of the global petroleum market and mark another shift by the world’s top crude exporter toward Asia. Plenty more to come on this topic but USA sanctions are having unintended consequences and bring the US $s future into doubt and then we have the BRICs country's ultimately we are talking about over 50% of the worlds population who are trying to get away from the US$ and these country are heading back to a GOLD based monetary system . The only issue we have to worry about is how high will the POG go , some say another 25% others 300% , 300% that's around $10,000 an OZ now wouldn't that be nice , we are allowed to dream but you never know .
BC8 Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
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