Header_Ad

Monday, September 11, 2017

Gold-Backed, Yuan-Denominated Oil Futures Could Dethrone US Petrodollar

A recent move by China could take a big step toward dethroning the US petrodollar. The Chinese have announced the launch of a gold-backed, yuan-denominated oil futures contract. The move potentially creates a way for oil exporters to circumvent US dollar denominated benchmarks by trading in yuan. The contracts will be priced in yuan, but […]

Gold-Backed, Yuan-Denominated Oil Futures Could Dethrone US Petrodollar



from SchiffGold.com http://ift.tt/2xqrmZg