The
imminent introduction of oil trading in yuan is a very bold move by
the Chinese, because the US will not give up the basis of its
hegemony – the dollar as the world’s reserve currency – without
a fight, Max Keiser, host of RT’s financial program ‘Keiser
Report' says.
The Chinese plan to roll out a yuan-denominated oil contract before the end of this year is a very brave move, since countries who “tried to exit the oil-dollar matrix have met terrible ends,” Keiser pointed out.
“Saddam Hussein wanted to trade oil in Euros and he was killed, Muammar Gaddafi wanted to trade his energy in something other than the US dollar – he was killed,” Keiser said.
China, however, has the resolve and the resources to pull-off the de-dollarization, and besides, it’s backed by several major countries which are “resistant to America’s financial cartel,” namely Russia and Iran, Keiser says.
“Kudos to China for taking this project on and of course they are rumored to be a big buyer in the Aramco offeri…
The Chinese plan to roll out a yuan-denominated oil contract before the end of this year is a very brave move, since countries who “tried to exit the oil-dollar matrix have met terrible ends,” Keiser pointed out.
“Saddam Hussein wanted to trade oil in Euros and he was killed, Muammar Gaddafi wanted to trade his energy in something other than the US dollar – he was killed,” Keiser said.
China, however, has the resolve and the resources to pull-off the de-dollarization, and besides, it’s backed by several major countries which are “resistant to America’s financial cartel,” namely Russia and Iran, Keiser says.
“Kudos to China for taking this project on and of course they are rumored to be a big buyer in the Aramco offeri…