PETRO DOLLAR GOING THE WAY OF THE DODO BIRD AS CHINA BEGINS SELLING OIL USING YUAN
SEPTEMBER 15, 2012
The dollar’s death by a thousand cuts just sustained a few hundred proverbial slashes as China officially announced Thursday that the international banking and payment transfer system is ready for any nation in the world to begin accepting the Chinese Yuan as payment for oil.
Combine the Chinese announcement with Thursday’s open-ended and unlimited quantitative easing announcement by the Fed and the dollar is dead.
On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S. dollar since its inception as a currency. For the first time since the 1970′s, when Henry Kissenger forged a trade agreement with the Royal house of Saud to sell oil using only U.S. dollars, China announced its intention to bypass the dollar for global oil customers and began selling the commodity using their own currency.