Dollar no longer primary oil currency
as China begins to sell oil using Yuan
Courtesy of TIme, Facts
Global Energy
Oil Sources for China.
September 12, 2012
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
the 1970's, when Henry Kissenger forged a trade agreement with the
Royal house
of Saud to sell oil using only U.S. dollars, China
announced its intention to bypass
the dollar for global oil customers and began selling the
commodity using their own
currency.
Lindsey Williams: "The most significant day in the history of
the American
dollar, since its inception, happened on Thursday, Sept. 6. On
that day,
something took place that is going to affect your life, your
family, your
dinner table more than you can possibly imagine."
"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 announcement by China is one of the most significant sea
changes in the
global economic and monetary systems, but was barely reported on
due to its
announcement taking place during the Democratic convention last
week. The
ramifications of this new action are vast, and could very well be
the catalyst that
brings down the dollar as the global reserve currency, and change
the entire
landscape of how the world purchases energy.
Ironically, since Sept. 6, the U.S. dollar has fallen from 81.467
on the index to
today's price of 79.73. While analysts will focus on actions
taking place in the
Eurozone, and expected easing signals from the Federal Reserve on
Thursday
regarding the fall of the dollar, it is not coincidence that the
dollar began to lose
strength on the very day of China's announcement.
Since China is not a natural oil producing nation, the question
most people will
ask is how will the Asian economic power get enough oil to affect
dollar hegemony?
That question was also answered by Lindsey Williams when he
pointed out a new
trade agreement that was signed on Sept. 7 between China and Russia,
in which
the Russian Federation agreed to sell oil to China in any and all
amounts they
desired.
Lindsey Williams: "This has never happened in the history of
crude oil.
Since crude oil became the motivating force behind our (U.S.)
entire
economy, and everything in our lives revolves around crude oil.
And since
crude oil became the motivating factor behind our economy...
never, ever
has crude oil been sold, bought, traded, in any country in the
world, without
using the American dollar."
"Crude oil is the standard currency of the world. Not the
Yen, not the Pound,
not the Dollar. More money is transferred around the world in
crude oil than
in any other product.""On Friday, Sept. 7, Russia
announced, that as of today,
we will supply China with all of the crude oil that they need, no
matter how
much they want... there is no limit. And Russia will not
sell or trade this crude
oil to China using the American dollar."
These duo actions by the two most powerful adversaries of the U.S.
economy and
empire, have now joined in to make a move to attack the primary
economic
stronghold that keeps America as the most powerful economic
superpower. Once
the majority of the world begins to bypass the dollar, and
purchase oil in other
currencies, thenthe full weight of our debt and diminished
manufacturing structure
will come crashing down on the American people.
This new agreement between Russia and China also has serious
ramifications in
regards to Iran, and the rest of the Middle East. No longer will
U.S. sanctions
against Iran have a measurable affect, as the rogue nation can
simply choose
to sell its oil to China, and receive Yuan in return, and use
that currency to trade
for the necessaryresources it needs to sustain its economy
and nuclear programs.
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. A major blow was done on Sept. 6 to the
American empire,
and to the power of the U.S. dollar as the world's reserve
currency. And China,
along with Russia, are now aiming to become the controllers of
energy, and thus,
controllers of a new petro-currency.
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.
