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China Completes LNG Gas Trade with Chinese Yuan, Ending US Dollar Reliance for Energy Trades
In what is a landmark development, China and France have completed an LNG gas trade using the Chinese yuan,
THUS ENDING THE RELIANCE ON THE US DOLLAR FOR ENERGY TRADES. Moreover, Reuters reported that the transaction involving 65,000 tonnes of LNG from the UAE marked the first yuan-settled LNG trade through the Shanghai Petroleum and Natural Gas Exchange.

Chinese National oil company, CNOOC, and France’s TotalEnergies completed the transaction on Tuesday, according to reports. Additionally, Energy World reported TotalEnergies confirmed the transaction “involved LNG imported from the UAE but did not comment further.”

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https://watcher.guru/news/china-com...ing-us-dollar-reliance-for-energy-trades

Well it looks like the Biden administration have finally succeeded in making the US dollar obsolete on the world stage.

First it was a deal with Russia
Then Saudi Arabia
Then some African nation
Now France

Who will be next? Germany?

So long, petrodollar, Communist China and its artificially propped-up yuan is in the ascent.

19th century - the British century
20th century - the American century
21st century - the Chinese century

Empires / cultures rise and fall.

When our first ally jumps ship, it’s a pretty big deal.

You might want to look up:

“Chinese Equivalent to the world bank” and look at who all has signed on.

China has been very busy with issuing bailouts.

The Govt. has spent and borrowed America right into the toilet. Just watch, the only way out is eliminate the dollar, and this bunch in office wants to go all digital.

Help a guy out here fellas. I know I'm a boomer so it's all my fault but I have no idea what it means to my life or standard of living (however low that may be) if the USD is no longer the worlds reserve currency. Let's say eggs are 3.60 USD a doz convert that to Yuan @.15 cents, my eggs are now 24.40 Yuan. Why will I care if my piddly 2000 SS check in now 13,333.33 Yuan. wtf???

Right now, federal reserve notes are (were) required for international trade. All those FRNs the govt been printing have been spread throughout the world. If the world doesn't need them anymore, they'll come home. That will greatly increase the number of FRNs in circulation here, and you've never seen inflation in this country like that.

Increased money supply=inflation?

What do you think has BEEN driving inflation?....

here is a dumb quiestion ,if that happens and all them dollors come back .Since our dollors are not backed by gold ,Why not just burn them up like wore out bills ,so not to cause inflation? .i mean they just print more when they want to spend it ,which we know causes inflation .so just get rid of excess bills, and not cause inflation .what would be the ramifications ,or problems ? I know nothing about economics

When the rest of the world no longer desires to have U.S. dollars in hand, those dollars become way less valuable at home.

If our Government wanted it different, it would be different.

Most of those dollars aren't pieces of paper. They're computer codes. When you bought your house, did you (or your mortgage company) show up with a bunch of paper? Or did someone hit a few keys and the "money" was transferred?

Keep an eye on exchange rates to measure US Dollar

https://www.x-rates.com/table/?from=USD&amount=1

yep now got it

Boomer cares only about himself, nothing about the long term future of the country. Many such cases!

Our standard of living will drop like a rock. Our debt will instantly be unsustainable. The world buys treasury bonds to keep dollars in a safe haven until needed for trade. If the world doesn’t need dollars to trade the there is no demand for dollars. Suddenly the Yuan , Ruble , etc are all in demand for trade and the world will park their money in those currencies. I’m no gold bug but gold is going to get expensive. The BRICS nations have been buying huge amounts of gold to back their currencies for trade. They have been slowly converting dollars to gold. The dollar is like the titanic. We just struck the iceberg and most of the passengers have no idea of what is coming.

Yep. We (American citizens) have effectively “benefitted” from a pyramid scheme. The scheme?? Fleecing the rest of the world, over the last few decades, into believing that our money was actually worth something.

They think they’re still dealing with the hard-working dads and grandpas of the 1950’s. They’re dealing with the “lazy kids”, who know nothing about how to run the business, and are operating off the “good name” of their parents.

Our dollar was worth something, because the rest of the world wanted it, and thought we were a “productive” country, not a nation of “consumers”. If they no longer provide a demand for it, and can use the currency of a nation that actually PRODUCES something, then the value goes down, precipitously.

Question: When a nation no longer has something holding it together (race/culture/religion/politics), AND it no longer even has a stable form of currency (which the government could use to keep folks “in line”, “behave or we seize your investments/bank account!”), what is likely to happen??