The Collapse of the American Empire, page-10

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watso

29,537 Posts.

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18/07/21

09:31

Post #: 54579711
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Originally posted by moorookamick: ↑

https://www.yicaiglobal.com/news/china-ansteel-rio-tinto-settle-first-cross-border-iron-ore-deal-in-yuan-https://www.reuters.com/article/us-china-baowu-bhp-idUSKBN22O0LZ

Iron ore which is our biggest and growing export to Chinais now being
traded in Yuan (Rinimbi) cutting out the USD as the medium of exchange.

Like the Suez Canal war being the catalyst for the demise of the Pound
Stirling as the global reserve currency , IMO the Trump regime may
be seen later as the catalyst for the demise of the Greenback.

The Trump regime reset the US policy on China from that of being
an emerging market based economy to that of being a hostile
CCP command economy and the ensuing trade war will have a clear
signal to China that if it wants to retain its Global lead intrude, then
it simply has to rid its trade transactions of the USD.

IMO that process is happening right now and the big test will be
when China insists on the removal of the USD from its oil & gas
purchases.

Sadam Husein tried that in the early Zeros but of course his regime
came to an abrupt end shortly afterwards. IMO, China will be keenly
aware of that.

https://www.theguardian.com/business/2003/feb/16/iraq.theeuro

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that was interesting about the purchase of iron ore in chinese currency .. watso was not aware of that ..

In a separate statement, Baowu noted it had now struck yuan-based deals with the “three giants” of iron ore - BHP, Rio Tinto and Vale.
The fourth-biggest iron ore miner, Australia’s Fortescue Metals Group, is also selling in yuan after setting up a trading entity in China in April 2019.

probably early tentative steps - but from little things big things grow ..

yes - sadam hussein tried to cut out the american dollar for oil sales .. and what about libya - gaddaffi was talking about an african gold dinar (or whatever) ..

all the wars in the middle east are about the enforcement of countries accepting american dollars for their oil.. the american dollar is backed by the oil reserves of other countries (and why america is really interested in imposing democracy in venezuela )..
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