JUN 2, 2017
ORIGINAL SOURCE: China’s Next Step to Destroy the Dollar by Byron King of dailyreckoning.com on 5/31/17
Byron King expands on what Jim Rickards had to say about the Chinese trying to buy oil from the Saudi's and now why Trump went on a mission there to prevent this. But Chinese oil imports have surpassed that of the U.S. which have put in question how long can this situation last and the petrodollar reign king?
China imports oil from Russia which can buy with it's yuan. Being that China is the largest gold producer in the world, In a way Chinese-Russian oil trade is now backed-up by a “gold standard.” Can you imagine what would happen if the Saudi's started accepting the Yuan?
Please read the rest here; China’s Next Step to Destroy the Dollar