China Puts Oil on a Gold Standard

7:46 AM

First published by Money Metals here: https://www.moneymetals.com/news/2017/09/05/china-oil-gold-standard-001150

The Chinese are preparing to launch an oil futures contract denominated in yuan and redeemable in gold. That is very bad news for the petro-dollar and for U.S. hegemony in the oil trade.

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