BATTLEFORWORLD – September 12, 2017: Financial hurricanes are everywhere and there’s no storm bigger than a category seven hitting the U.S. Dollar. Rest in peace Petrodollar. Russia will sell oil for Yuan, and also swap Yuan for gold. Where’s the U.S. Dollar is all of this. Nowhere. And China is launching a Yuan-based priced crude oil contract. Which you can buy in Yuan and convert immediately to gold. A few countries have tried this before: Remember Saddam Hussein had tried trading oil in Euros and he was assassinated, and Muammar Gaddafi tried to trade oil in Euros and he was assassinated, etc. And so countries have been trying to get out of the U.S. Dollar for quite sometime. The dollar world reserve currency was crafted so that when you buy oil, you have to buy dollars first, and that is what keeps the dollar up. But now China has taken a bold step in the 21st Century to replace the U.S. Dollar. (BATTLEFORWORLD: And the U.S. is going to launch all sorts of overt and covert attacks against China to try and upset China’s Yuan emergence.) And we are going to have another recession in the United States and it’s going to happen soon. Link: Reference
RT – In this episode of the Keiser Report, Max and Stacy ask, “RIP, Petrodollar?” China readies a yuan-priced oil benchmark backed by gold. Is this the final nail in the dollar’s coffin? In the second half, Max interviews Michael Pento of PentoPort.com to discuss the oil-gold-yuan futures contract, North Korea, hurricanes and coming market meltdowns.