China Launches Yuan-Ruble Payment System

More evidence signalling the end of the petrodollar.

http://www.zerohedge.com/news/2017-10-12/china-launches-yuan-ruble-payment-system

China Launches Yuan Gold Fix To "Exert More Control Over Price Of Gold"

The train has left the station.  Gold and silver prices are soaring, probably due to the launching of the Shanghai Gold Exchange.

http://www.zerohedge.com/news/2016-04-19/china-launches-yuan-gold-fix-exert-more-control-over-price-gold

U.S. Scared To Death As China Just Secured Larger Flow Of Gold As Part Of Its Plan To Back The Yuan With Gold

http://kingworldnews.com/u-s-scared-to-death-as-china-just-secured-larger-flow-of-gold-into-china-as-part-of-plan-to-back-the-yuan-with-gold/

China To Establish Yuan-Denominated Gold Fix In Bid To Upend London Benchmark

http://www.zerohedge.com/news/2015-05-06/china-establish-yuan-denominated-gold-fix-bid-upend-london-benchmark

Ottawa, Beijing strike deal on yuan trading hub

Even our most staunch north American ally is de-dollarizing, near America's own backyard.   Canada has to, for financial survival, as the days of a unipolar reserve currency are numbered.  Of course, everyday Americans will be the last to realize this, as the dollar propaganda machine must propagate USDollar strength by thrashing foreign currencies even more.  This includes destroying the Russian ruble (Ukraine, economic sanctions, crude oil suppression (hat tip to Saudi Arabia)), the yen (QE to infinity (hat tip to Abe-economics)), and the Euro (blowback from constrained Russian energy exports).

In other words, market participants mistakenly still perceive the USDollar as a safe haven asset--the cleanest shirt in the dirty laundry bin.  However, with Chinese bilateral trade agreements in place--including with Russia, the yuan will inevitably play a bigger role in a multi-pollar currency world.  Which is exactly why the PBOC is continuing to purchase gold, to eventually back up the yuan with said gold reserves.

Protecting the global reserve currency status of the dollar is of utmost importance to financial elites because they know US Treasury debt obligations can never be repaid.  However, America's unlimited credit card will one day reach its cul-de-sac, once creditors realize they're left holding the bag.

http://www.theglobeandmail.com/report-on-business/ottawa-beijing-strike-deal-on-yuan-trading-hub/article21438028/

Russia’s Gazprom Neft to Sell Oil for Rubles, Yuan

http://en.ria.ru/business/20140827/192383783/Russias-Gazprom-Neft-to-Sell-Oil-For-Rubles-Yuan.html

British Columbia, Ontario to cooperate on Yuan trading hub

It's becoming obvious USDollar hegemony is coming to an end.  Canada--really?

http://www.bnn.ca/News/2014/8/27/British-Columbia-Ontario-to-cooperate-on-Yuan-trading-hub.aspx

China signs currency swap worth 150 billion yuan with Switzerland

Another nail in the coffin of dollar hegemony.

http://www.reuters.com/article/2014/07/21/us-china-switzerland-currency-idUSKBN0FQ0H520140721

China to Set Yuan Clearing Banks in Luxembourg, Paris

The rise of the Chinese yuan as an international currency doesn't spell the doom of the USDollar, but it will eventually end the dollar's reserve currency status.  Hello, inflationary pressures generally, and imports specifically.

http://www.nasdaq.com/article/china-to-set-yuan-clearing-banks-in-luxembourg-paris-20140629-00048?

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/27_Paul_Craig_Roberts_-_The_Entire_U.S._Gold_Hoard_Is_Now_Gone.html#sthash.GGRuT5Q9.dpuf

Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles

http://www.zerohedge.com/news/2014-06-26/gazprom-ready-drop-dollar-settle-china-contracts-yuan-or-rubles

Celente - It’s Raining Bankers To Protect The US Dominance

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/2/18_Celente_-_Its_Raining_Bankers_To_Protect_The_US_Dominance.html

Dollar no longer primary oil currency as China begins to sell oil using Yuan

http://www.examiner.com/article/dollar-no-longer-primary-oil-currency-as-china-begins-to-sell-oil-using-yuan

"The most significant day in the history of the American dollar, since its inception, happened on Thursday, Sept. 6. On that day, something took place that is going to affect your life, your family, your dinner table more than you can possibly imagine."

"On Thursday, Sept. 6... just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar.

"This has never happened in the history of crude oil. Since crude oil became the motivating force behind our (U.S.) entire economy, and everything in our lives revolves around crude oil. And since crude oil became the motivating factor behind our economy... never, ever has crude oil been sold, bought, traded, in any country in the world, without using the American dollar."

"Crude oil is the standard currency of the world. Not the Yen, not the Pound, not the Dollar. More money is transferred around the world in crude oil than in any other product."

"On Friday, Sept. 7, Russia announced, that as of today, we will supply China with all of the crude oil that they need, no matter how much they want... there is no limit. And Russia will not sell or trade this crude oil to China using the American dollar."

- Lindsey Williams

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

Toronto Reviews Bid to Become Yuan Currency Trading Hub

Even America's closest allies will abandon the USDollar as the global reserve currency.

http://www.bloomberg.com/news/2013-07-04/toronto-reviews-bid-to-become-yuan-currency-trading-hub.html

UK and China in £21bn currency swap deal

Even the staunchest U.S. allies are slowly abandoning the USDollar in their international trade settlements.

http://www.bbc.co.uk/news/business-23020718

Here’s What China Is Secretly Planning for the Yuan

http://www.cnbc.com/id/100726245

Westpac, ANZ secure deal to trade Australian dollar and Chinese Yuan

http://www.theaustralian.com.au/business/westpac-anz-secure-deal-to-trade-australian-dollar-and-chinese-yuan/story-e6frg8zx-1226614879328

The birth of a global currency

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

Russia & China Know Final Currency Devaluation Is Coming

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/2/14_Russia_%26_China_Know_Final_Currency_Devaluation_Is_Coming.html

Why It’s Taking 7 Years For Gold To Be Returned To Germany

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/16_Why_Its_Taking_7_Years_For_Gold_To_Be_Returned_To_Germany.html