China Ready To Crush The US Dollar

[OutWest]

"When Saudi Arabia announces they will start selling oil in yuan instead of dollars that will be the moment the US dollar crashes. Saudi Arabia is the key figure in holding the petro dollar deal together." – Dr. Jim Willie

China will 'compel' Saudi Arabia to trade oil in yuan — and that's going to affect the US dollar
https://www.cnbc.com/2017/10/11/china-w ... ollar.html

Yep, China wants to screw itself by undercutting the dollar... for all the mental flatulence, China is in a tenuous situation with its economy and will tend to be pretty cooperative with things as they are.

[Taco]

Most people think this oil fueled, credit fueled, stock market fueled, gravy train were riding on is going to last forever. No one believes the US government will ever let the economy or the dollar crash but that is exactly what's going to happen and when it does it will be hugely destabilizing.

[xiongmao]

There just isn't enough internal consumer demand in China. Today my students told me the minimum wage here is 13.5RMB/hr. You'd need to work 2.5 hours to get a coffee in Starbucks.

A couple of weeks ago I bought some clothing and found out it was made in the Phillies. Is this the next manufacturing powerhouse? Also I've been vaguely looking for tech jobs in Asia, and Vietnam is looking really good for tech.

China has some good phones (Huawei especially) but one spying scandal (legit or false flag) could kill their Western export markets.

[Taco]

The worst financial crisis in world history is just around the corner but do people care what happens? Nope, they don't give a shit about it. Once they get locked out of their bank account that's when the gloves come off.

All other fiat currencies take their value from the dollar, not gold. So, the destabilizing forces on the dollar could take down the whole fiat currency complex as well...

Petro Yuan To Launch Reminbi As Global Currency And Kneecap Petro Dollar
https://www.rt.com/business/423461-petr ... ollar-oil/

[Taco]

"The world's push towards de-dollarization continues to accelerate as Americans go about their daily lives worrying more about blasphemous comedians, participation trophies, and Kim and Kanye's traitorous behavior.

From yuan-denominated oil futures (and soon to be yuan-denominated metals contracts) to Europe's decision to use Yuan to pay for Iranian oil; and from non-dollar settlement systems for Russia/Chinese trade to Turkey's call for citizens to dump the dollar, it appears each action of the Trump administration deepens the distrust in the dollar hegemony, coalescing the world against Washington's reserve currency unipolar order.

In a well-placed interview in China's Xinhua news - the official press agency of the People's Republic of China - officials from Africa are seen calling for more yuanification of the massive continent's economies."

China buying oil from Iran with yuan
https://www.bbc.com/news/business-17988142

De-Dollarization Escalates: "African Economy Needs More Usage Of Chinese Yuan"
https://www.zerohedge.com/news/2018-06- ... inese-yuan