Breaking: Petrodollar Cracks: Saudi Arabia Considers Accepting Yuan For Chinese Oil Sales

[Song Hong]

US to seize Russian asset (never mind Oligarch or not), and give them to traitor Zelenski and gang, under the name of Ukraine aid.

Oil Sheikhs trembles.

This will be the start of the end of US asset as the endpoint of petrodollars.

Reason why oil Sheikhs are accepting CNY payment.

Seized Russian Oligarchs’ Assets Could Be Used For Ukraine Aid Under Senate Bill

"We ought to seize those ill-gotten luxuries and put them to use helping [Ukraine]," Sen. Whitehouse said of the bill, which has garnered some bipartisan support in the House and Senate.

www.forbes.com

 

[Viet]

So long as China, world biggest industrial output nation is helping Russia, there is no way Russia will loss the war of attrition. It will be the West that will loss.

Which is the reason, West is asking China to join in the sanction. Wet dream.

Chinese are capitalist, they certainly take the opportunity, they will squeeze Putin, what else. Oil, gas, gold, natural resources, everything cheaper. Russia military weak.

 

[FairAndUnbiased]

The chinese lack experience and gamesmanship in hegemony building as they are to hesitant and isolations.. They need forward thinking advisors which MBS can bestow upon them

Chinese were conquerers and imperialists for over 2000 years. China started as a small farming civilization in the Yellow River Valley and expanded to span a continent. China destroyed the Xiongnu, the Xianbei, the Mongols. Han conquered Xiyu before it was Xinjiang and Chinese inhabited the Tarim Basin before the Uighrs. The Dutch and Portuguese Empires expanded across Asia - until they were stopped at Taiwan by the Ming Navy, and no further did they go. Japan attacked Korea in 1500, and they were thrown right back into the ocean by Ming troops. We regime changed Ceylon and dragged their king back to China in chains.

but that's all in the past. China used to be a fierce dragon, now China is a cuddly panda like Bing Dwen Dwen.

 

[Song Hong]

The seizure of Russian asset in the west will be extremely harmful to London and New York as world financial center. I am not sure why Western elites IQ degraded to such level.

Hitherto, people will be hesitate to park their monies there.

Shanghai will rise.

 

[MH.Yang]

Chinese were conquerers and imperialists for over 2000 years. China started as a small farming civilization in the Yellow River Valley and expanded to span a continent. China destroyed the Xiongnu, the Xianbei, the Mongols. Han conquered Xiyu before it was Xinjiang and Chinese inhabited the Tarim Basin before the Uighrs. The Dutch and Portuguese Empires expanded across Asia - until they were stopped at Taiwan by the Ming Navy, and no further did they go. Japan attacked Korea in 1500, and they were thrown right back into the ocean by Ming troops. We regime changed Ceylon and dragged their king back to China in chains.

but that's all in the past. China used to be a fierce dragon, now China is a cuddly panda like Bing Dwen Dwen.

Yes, China now has a huge territory and a homogeneous population of more than one billion. These do not come from winning the lottery, but from the accumulation of hegemony and imperialism for thousands of years.
We used to be imperialists ourselves, so we don't hate the British who defeated us in the Opium War. It's natural that the murderer should be killed. We deserve it. That's why we don't do that when Indians put all the problems on the British colonists.
But we don't want to repeat the mistakes of thousands of years, now we are more interested in making money. We should dominate global trade, not engage in imperialism.

 

[Viet]

The seizure of Russian asset in the west will be extremely harmful to London and New York as world financial center. I am not sure why Western elites IQ degraded to such level.

Hitherto, people will be hesitate to park their monies there.

Shanghai will rise.

Ah who cares in the west about the oligarchs best friends of comrade Vladimir?
Ukraine says the red hordes causing a damage of $550 billion and rising. Ukraine will take that Russia oversea assets. What will Putin do? Starting a thermonuclear war?

 

[rcrmj]

Let me explain in simple terms, you pay in Dinars, the dinars go into the Saudi banks who converts this to their Yuan reserve to buy Chinese stuff which gets shipped from China using COSCO the third larger shipper with ships made in China and crewed by Chinese protected by the Chinese Navy in Djibouti. For your banks to earn the Yuan they sell oil to China and we deposit the Yuan in that Saudi Bank.

apart from all the "theories" and hypothesis, answer me one question, without the help from illegal operation and black market, how much other currencies we can convert per person per year in China?

 

[CAPRICORN-88]

US to seize Russian asset (never mind Oligarch or not), and give them to traitor Zelenski and gang, under the name of Ukraine aid.

Oil Sheikhs trembles.

This will be the start of the end of US asset as the endpoint of petrodollars.

Reason why oil Sheikhs are accepting CNY payment.



View attachment 824818

Seized Russian Oligarchs’ Assets Could Be Used For Ukraine Aid Under Senate Bill

"We ought to seize those ill-gotten luxuries and put them to use helping [Ukraine]," Sen. Whitehouse said of the bill, which has garnered some bipartisan support in the House and Senate.

www.forbes.com

Only a lawless and rogue nation will do that.

Domestic US law is NOT international law.

Russia and other victims can filed their complaints against USA in ICJ.

With a ruling fromm ICJ, Russia can then legally demand them back or seized US assets in compensation.

 

[8888888888888]

The Chinese Yuan makes up only 1.2% of reserve currency use. It will take a long time to replace the US dollar with anything else.

It’s going to increase

 

[MH.Yang]

Ah who cares in the west about the oligarchs best friends of comrade Vladimir?
Ukraine says the red hordes causing a damage of $550 billion and rising. Ukraine will take that Russia oversea assets. What will Putin do? Starting a thermonuclear war?

Yes, Putin really can't do anything, but this can give the Chinese a reason to confiscate all western factories&Investments&Patents in China in the future.
After all, it was the West that first violated the international principle of "inviolability of private property". Then, if necessary, China can also come for the same reason. Can't we find evidence of western aggression against other countries?

 

[xyx007]

I am sure you will enjoy this video and I am sure you will laugh while watching this video because at the end of the video I can't stop laughing when I heard russian oil is sold in rupees to India with a 20% discount.

https://twitter.com/x/status/1504396666706800640

 

[Viet]

Yes, Putin really can't do anything, but this can give the Chinese a reason to confiscate all western factories&Investments&Patents in China in the future.
After all, it was the West that first violated the international principle of "inviolability of private property". Then, if necessary, China can also come for the same reason. Can't we find evidence of western aggression against other countries?

What has China to do with the West seizing Russia assets? You can sit back and watch the show. There is a thing called accountability. You do something you bear the consequences.

 

[cloud4000]

Yuan is already free floating and not pegged.

It literally has risen in value vs the USD in the past few days alone. This is easily verified by googling USD RMB exchange rate.

Rising in value =! peg. It is the dictionary definition of not being pegged.

RMB has appreciated for years and the exchange rate has fluctuated by almost 20% in the past 15 years. Again a fluctuation of value is the opposite of a peg.

I strongly suggest you learn what a currency peg actually is.

You are only partially right. The yuan is no longer pegged to the USD. I admit this after doing some more research. Nevertheless, it's not completely free-floating. either. Per Bank of China's website:

The overall goal of reforming RMB exchange rate regime is to establish and improve a managed floating regime based on market supply and demand, and keep RMB exchange rate basically stable at an adaptive and equilibrium level.

A more detailed view is provided by the IMF here that is worth reading.

CNY is not linked to any currency, and the Chinese govt does not oppose the appreciation of CNY, it just hopes that CNY will not appreciate too fast.
The slow and stable appreciation of CNY is more in line with the interests of the world economy, and the rapid rise will bring unnecessary risks.

Tying the world economy to a single currency is dangerous and unstable. Therefore, we do not want to use CNY to replace the US dollar. The world currency should be diversified and allow multiple currencies to share risks.

The USD is not the sole reserve currency, but, perhaps, the most popular one. You need to ask why this is? Because people trust it. The reasons are various.

 

[Han Patriot]

apart from all the "theories" and hypothesis, answer me one question, without the help from illegal operation and black market, how much other currencies we can convert per person per year in China?

50k dollars worth of I am not mistaken. I don't think RMB is ready for low level individual transfer, its more for trading firms and sanctioned countries. Volumes in non sanctioned countries can be tracked through accounting and declarations, but for countries like Iran, Russia, NK, Venezuela, and Syria, nobody is going to declare shit. Trade is trade regardless of whether it done with rogue or 'civiized' countries. Trade is just the exchange of goods and services.

It maybe possible with digital rmb.

 

[CrazyZ]

KSA is just adapting to reality. It should accept dollar or Yuan. It should also consider a broader MENA currency union .....but not like the EU. More like the IMF and its SDR. A MENA SDR should also be accepted for payment of oil.

US TV reporter in rage, blaming Biden administration for this milestone failure​

Saudi Arabia considers ditching the dollar for Chinese oil sales​

Its far more then Kashogi, USA no longer has sound monetary policy nor does it guarantee KSA security like it use to.