Just as GMRgold reported, Russian President Vladimir Putin and Chinese President Xi Jinping announced last week that along with other BRIC alliance nations they intended to begin using the Chinese yuan to replace the USDollar as the reserve currency of the world. It did not take long for the another sovereign nation and in this case a one of the twelve founding nations of NATO to pile on.
France’s TotalEnergies has reportedly completed China’s first purchase of imported liquefied natural gas to be settled in Chinese yuan through the Shanghai Petroleum and Natural Gas Exchange. The deal is reported to have an energy content of 3.2 billion to 3.4 billion British thermal units, and the LNG comes from the United Arab Emirates, Shanghai Securities News reported today.
GMRgold "Red Alert"
As the first blow to the PetroDollar materializes, the lack of response by the United States could signal other countries to settle international payments in other currencies other than the Greenback. The DXY was down and Gold was up in early trading while the Dow Jones Industrial Average was holding mostly steady for the day.
Serious investors are racing to safe haven assets as the USDollar sits on a historic precipice. The Precious Metals Arena is experiencing incredible volume and supply shortages. Delivery dates are beginning to stretch as premiums start to creep higher.
Smart Money always moves before the “herd mentality” takes over. For more information and current recommendations, contact your GMRgold Representative today.
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