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New Trade Agreement Between China & Russia for OIL---China Now Only Buys Oil with Yuan

 
Anonymous Coward
User ID: 2447787
United States
09/17/2012 02:09 AM
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New Trade Agreement Between China & Russia for OIL---China Now Only Buys Oil with Yuan
[link to americankabuki.blogspot.com]

"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."

"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."

"This new agreement between Russia and China also has serious ramifications in regards to Iran, and the rest of the Middle East. No longer will U.S. sanctions against Iran have a measurable affect, as the rogue nation can simply choose to sell its oil to China, and receive Yuan in return, and use that currency to trade for the necessary resources it needs to sustain its economy and nuclear programs."

This looks like huge news---I saw there was a thread on China replacing the U.S. dollar with their yuan as world currency, but not this agreement with Russia. Thoughts?

(couldn't post under my username MtnLioness--password isn't matching and no longer have that email account, so waiting for GLP to send my confirmation to a new account to my new email)
Anonymous Coward (OP)
User ID: 2447787
United States
09/17/2012 02:18 AM
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Re: New Trade Agreement Between China & Russia for OIL---China Now Only Buys Oil with Yuan
Anyone know about this agreement between Russia and China?
MtnLioness1 (OP)

User ID: 2447787
United States
09/17/2012 02:35 AM

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Re: New Trade Agreement Between China & Russia for OIL---China Now Only Buys Oil with Yuan
Got my new account.......so,am I the only one who thinks this is a BFD? rex
The world has taken a turn for the surreal. ~Saving Private Ryan
side show bob

User ID: 1547533
New Zealand
09/17/2012 03:20 AM
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Re: New Trade Agreement Between China & Russia for OIL---China Now Only Buys Oil with Yuan
Yeah this will set the cat amongst the pigeons. I can't understand the logic of printing many more billions of dollars and I think the rest of the world sees it the same way. As your dollar devalues world currencies increase in value, this will eventually force counties to trade in a more stable currency as exporters suffer, their currency becomes to expensive due to the weak US dollar. Sad to say but I think it may be curtains for the US, they seem hell bent in destroying themselves due to super inflation.

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