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Out Of Mind » VOICES CARRY ~ TRUTHERS » Anonymous » China Prepares To Launch Its Gold Convertible Petro-Yuan March 26, 2018:

China Prepares To Launch Its Gold Convertible Petro-Yuan March 26, 2018:

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Now this is interesting news...

China Prepares To Launch Its Gold Convertible Petro-Yuan March 26, 2018: Five ‘Test Runs’ Have Successfully Completed.
16 Feb 2018 by Volubrjotr 0 Comments

China Reset
The world’s top oil importer, China, is expected to launch its long-awaited and delayed yuan-denominated oil futures contract at the end of March, according to Reuters’ sources.
The petroyuan is seen as Beijing’s challenge to the US dollar, the dominant global currency in oil contract settlements.
The contract could reportedly be launched on March 26 on the Shanghai International Energy Exchange (INE). The exchange has recently received the approval from China’s State Council.

In December, the INE announced a successful completion of the fifth dry run in yuan-backed oil futures contract trading. It said that 149 of its members traded 647,930 lots in the rehearsal with a total value of 268.2 billion yuan. The exchange said the system met the listing requirements of crude futures after the exercise.
The Chinese government announced plans last year to start a crude oil futures contract priced in yuan and convertible into gold. The contract will enable the country’s trading partners to pay with gold or to convert yuan into gold without the necessity to keep money in Chinese assets or turn it into US dollars.

China Dumping U.S. Paper Currency For Gold
Since the 1970s, the global oil trade has almost entirely been conducted in US dollars. The largest energy consumer, China, is interested in having oil contracts in its own currency. Beijing wants to create an Asian crude oil benchmark that would better reflect pricing for the oil imported and consumed in the world’s top importing region Asia. It expects the new benchmark to rival North Sea Brent and US West Texas Intermediate.
Analysts say the success of the yuan oil futures contract depends on the Chinese regulation of the market, which could divert international investors from bringing huge volumes into the contract.
Russia Today



The New Silk Road: China’s Soft Imperialism

I’ve seen a few documentaries about China’s One Belt One Road Initiative, one of, if not the largest infrastructure and investment megaprojects in history. It represents China’s growing role in global affairs, with a China-centered trading network throughout all of Asia, mustering the cooperation of land-locked, low-population neighbors who have traditionally been in Russia’s sphere of influence.
It’s an important story that I’ve seen told in a few different ways. This show was produced in English by DW, the German public broadcasting network. The cinematography is spectacular with lots of aerial vistas, illustrative graphics and realpolitik. The more human impacts are seen during the second half, along with glimpses of life in long-isolated countries like Muslim-majority, Russian-speaking Kazakhstan.
By landmass, Zazakhstan is the 9th largest country and the largest landlocked country in the world, with a population of only 18 million – or just over half the population of the Chinese city of Chongqing. Although the locals in this region are excited about heretofore unseen opportunities, there are also fears that the Chinese who come with the One Belt project will settle and eventually engulf their tiny population, in a stampede for their copious arable land and vast petroleum deposits.
The Chinese try to allay such fears by repeating that conquest and hegemony are not part of their culture. Meanwhile, Russia’s influence has waned in recent decades, its economy dwarfed by China’s.
A Russian-Kazakh commentator explains, “For Putin, as for Stalin before him, military strength is the primary factor but that’s just not enough in today’s world. You need an efficient economy, technology, science. Putin’s Russia has none of that. Kazakhstan and Uzbekistan are already turning towards China while trying to maintain a balance but Russia’s all talk. China has the money. All Russia has his memories her glorious past.”
China is the future and there’s a lot to learn here. Chongqing, in southwest China, where the One Belt begins is the most populous municipality in China. (I’d never heard that before!) China now has the largest network of high-speed railroads of trains, which travel at 250 km/h (160 mph). The trains are manufactured in partnership with French, Japanese, Canadian and German consortiums.
While many around the world are quaking in their boots at the prospect of China’s inexorable ascendency, there are doubtless many opportunities and hopefully, peace.

Thanks to:



Purps, nice post!..This has a WHOLE lot of importance relating to the financial eastern move. The Chinese have been waiting their turn for quite sometime.

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