PetroYuan Proliferation: Russia, China To Settle "Holy Grail" Pipeline Sales In Renminbi

http://www.zerohedge.com/news/2015-06-17/petroyuan-proliferation-russia-china-settle-holy-grail-pipeline-sales-renminbi

The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi

The end of the petrodollar is arriving fast.  What that means to US consumers is to start stacking precious metals and Chinese yuan--or store barrels of crude oil in your garage.  I'm pretty sure the latter option is illegal and unsafe.

http://www.zerohedge.com/news/2015-06-09/petroyuan-born-gazprom-now-settling-all-crude-sales-china-renminbi

Koreans are getting in on the trend — renminbi deposits in Korea surge 55-fold

http://www.sovereignman.com/finance/koreans-are-getting-in-on-the-trend-renminbi-deposits-in-korea-surge-55-fold-15198/

And the next country to join the renminbi fan club is…

http://www.sovereignman.com/trends/and-the-next-country-to-join-the-renminbi-fan-club-is-14829/#commentform

90% Of Gazprom Clients Have "De-Dollarized", Will Transact In Euro & Renminbi

The US is tightening the noose on its own neck with every economic sanction against Russia, because it is accelerating the decline of the USDollar as the global reserve currency.  Obama and Congress don't understand the boomerang effects of a globally-linked financial and trade system.  But then again, neither do our top economists and bankers.

http://www.zerohedge.com/news/2014-06-07/90-gazprom-clients-have-de-dollarized-will-transact-euro-renminbi

Bundesbank, PBOC in Pact to Turn Frankfurt Into Renminbi Hub

http://www.businessweek.com/news/2014-03-27/frankfurt-sets-sights-on-yuan-offshore-trade-as-xi-visits-merkel

Bundesbank Warns China's Currency "On Its Way To Becoming Global Reserve Currency"

Folks, myself and the blogosphere have been warning of this imminent shift in reserve currencies.  The cat is now out of the bag.  The USDollar will lose its global reserve currency status.  The loss may not be complete--it may share that privileged status with other currencies.  But it is inevitable.

Be prepared for much higher import and domestic prices--on everything.  The outcome may not be immediate, as the USDollar may continue to temporarily strengthen as geopolitical fires emerge in other parts of the world.  But the dollar's safe haven status will eventually be challenged as the rest of the world wakes up to its debasement.  Counterfeiting--even if "legalized" or institutionalized, will have market consequences, intended or otherwise.

http://www.zerohedge.com/news/2013-07-06/bundesbank-warns-chinas-currency-its-way-becoming-global-reserve-currency

The birth of a global currency

http://www.businesswithoutborders.com/industries/others-industries/the-birth-of-a-global-currency/

Gold, the renminbi and the multi-currency reserve system

It's 44 pages long, but you might want to at least skim it because it's coming from advisers to some of the biggest international lending institutions, central banks, policy-makers, and sovereign wealth funds.  This is what our global financial system will look like going forward.

http://www.gold.org/download/pub_archive/pdf/gold_renminbi_multi-currency_reserve_system.pdf

Asian economies turn to yuan

The demise of the USDollar as the reserve currency--and inversely--the rise of the Chinese yuan as one, is largely ignored by the US media, despite warnings from US-based think tanks.  Us Americans have to turn to the global media to get tidbits.

http://www.chinadaily.com.cn/china/2012-10/24/content_15840495.htm

The USD Trap Is Closing: Dollar Exclusion Zone Crosses The Pacific As Brazil Signs China Currency Swap

http://www.zerohedge.com/news/usd-trap-closing-dollar-exclusion-zone-crosses-pacific-brazil-signs-china-currency-swap

Renminbi begins to go global

http://www.ft.com/intl/cms/s/2/c28cb520-998b-11e1-948a-00144feabdc0.html#axzz1yCxJTLdZ

Renminbi’s mysterious rise: trade finance or interest arbitrage?

http://blogs.ft.com/beyond-brics/2012/05/29/renminbis-mysterious-rise-trade-finance-or-interest-rate-arbitrage/#axzz1wQf5Tick

There Can Be Only One: China Sovereign Wealth Fund Says Renminbi Will Become Reserve Currency

http://www.zerohedge.com/news/there-can-be-only-one-china-sovereign-wealth-fund-says-renminbi-will-become-reserve-currency

Iran accepts renminbi for crude oil

This is further evidence of the "petrodollar" losing its hegemony in global oil markets.

http://www.ft.com/intl/cms/s/0/63132838-732d-11e1-9014-00144feab49a.html#axzz1uMVj61KI

Chinese Renminbi: the new USDollar?

http://www.gata.org/node/8961/print

In the be-careful-what-you-wish-for category, Congress, US Treasury Secretary Geithner, Fed Chairman Bernanke, the Obama Administration, along with the blessing of the G-20 countries, have accused the Chinese of manipulating their currency down in order to maintain unfair export competitiveness. The international banking community doesn't realize it's the Fed that is manipulating the USDollar, in a similar desperate attempt to devalue the greenback, and that the Chinese are merely pegging the Yuan to the USDollar. Hence, if the Fed stopped debasing the USDollar, the Yuan would also stop its devaluation trajectory.

But the unintended consequence of appreciating the Yuan would include the Chinese dumping US Treasury bonds from their reserves (i.e. Chinese sales of US Treasuries would devalue the USDollar and appreciate their native currency, the Yuan). This dumping would cause US Treasury bond prices to crash and cause yields (and interest rates) to soar. This would completely eliminate any chance the US has of a recovery from an already fragile economy.

Again, US government economists and policymakers are chasing their tails, and don't realize their latest "solution" will only create much bigger problems down the road.