On March 26, the petrodollar will begin its funeral march to oblivion as the Shanghai International Energy Exchange allows any Chinese and foreign traders to trade oil in local currencies other than the dollar. This is very significant considering that China is the world’s largest oil consumer as of last year.
A statement from the Shanghai International Energy Exchange says,
“Approved by the China Securities Regulatory Commission (“the CSRC”), the Shanghai International Energy Exchange Co., Ltd., or INE, is an international exchange that is jointly initiated and established by relevant entities including the Shanghai Futures Exchange, and open to global futures participants. As a self-regulated entity, INE discharges its duties pursuant to the Company Law, the Regulations on the Administration of Futures Trading and relevant rules and regulations prescribed by the CSRC.
Registered in the China (Shanghai) Pilot Free Trade Zone on November 6th, 2013, INE operates the listing, clearing and delivery of energy derivatives including crude oil, natural gas, petrochemicals, etc., formulates business rules, implements self-regulation, publishes market information, and provides technology, venue and facility services.
Based on the principles of “openness, fairness and impartiality”, INE is devoted to establishing a global trading platform for energy derivatives that is “internationalized, market-oriented, rules by law and professionalized” to objectively reflect the energy supply-demand conditions, provide a tool in price discovery, risk management and asset management for energy producers, distributors, consumers and investors, so as to facilitate the optimal allocation of energy resources and promote the economic development.”
- http://www.ine.cn/en/about/simintro/
Superimposing this in the context of what China has been doing in the South China Sea, Latin America and in the Middle East, this means that any deliberate disruption of the market by way of instigated conflict, or mere speculative attacks against the INE, will never be allowed.
How China Is About to Shake Up the Oil Futures Market
By Sungwoo Park | February 9, 2018, 4:29 PM GMT+8
China, the world’s biggest oil buyer, is opening a domestic market to trade futures contracts. It’s been planning one for years, only to encounter delays. The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay in local currency. Also, foreign traders will be allowed to invest — a first for China’s commodities markets — because the exchange is registered in Shanghai’s free trade zone. There are implications for the U.S. dollar’s well-established role as the global currency of the oil market.
- When will trading begin?
From March 26. Multiple rounds of testing have been carried out and all listing requirements met. The push for oil futures gained impetus in 2017 when China surpassed the U.S. as the world’s biggest crude importer. The Asian nation’s purchases reached a record high last month.
Top Oil Buyer: China surpasses U.S. as world’s biggest crude importer
- Why is this important for China?
Futures trading would wrest some control over pricing from the main international benchmarks, which are based on dollars. Denominating oil contracts in yuan would promote the use of China’s currency in global trade, one of the country’s key long-term goals. And China would benefit from having a benchmark that reflects the grades of oil that are mostly consumed by local refineries and differ from those underpinning Western contracts.
- How do oil futures work?
Futures contracts fix prices today for delivery at a later date. Consumers use them to protect against higher prices down the line; speculators use them to bet on where prices are headed. In 2017, oil futures contracts in New York and London outstripped physical trading by a factor of 23. Crude oil is among the most actively traded commodities, with two key benchmarks: West Texas Intermediate, or WTI, which trades on the New York Mercantile Exchange, and Brent crude, which trades on ICE Futures Europe in London.
Another factor that would sidetrack the Deep State petrodollar is the breathtaking and massive nuclear power plant constructions inside China, and soon in other parts of Eurasia.
Meanwhile, the White House has just announced that more jobs are coming due to an increased spending for the military industrial complex.
Trump has just signed the spending bill to avert a complete corporate government shutdown, which includes the budget for the arms and war manufacturers.
Just signed Bill. Our Military will now be stronger than ever before. We love and need our Military and gave them everything — and more. First time this has happened in a long time. Also means JOBS, JOBS, JOBS!
— Donald J. Trump (@realDonaldTrump) February 9, 2018
This means that in the near future, the rest of the world will have more DEATHS, DEATHS, DEATHS!
… if the Hegemon will have its way.
But Deep State, dream on.
The LAST thing mankind needs is a so-called “New FINANCIAL Babylonian Slave MONEY system..It implies just ANOTHER system where LOANS are needed for mankind to thrive…UNDERSTAND anyone???
DEBT is what enslaves people, and the USA just made another loan by passing a budget…The One thing it NEEDS to STOP doing!
Governments are CONTROLLED by this VATICAN run “Babylonian Slave system”…
WE will ONLY become FREE the day we get rid of the need for MONEY.
The “Chimera Group” or the SECRET Space Program is working for this system…and THAT is where ALL the stolen(Missing) wealth is going too.
Ask yourself; WHY does the SSP NEED Money, IF it was a LOVING arrangement???
Divine Providence has NO Need for MONEY…Understand folks…SATAN (Vatican)does thought…SEE???
Step away from the bong!
Reblogged this on The Most Revolutionary Act and commented:
On March 26, the Shanghai International Energy Exchange will allow Chinese and foreign traders to trade oil in local currencies other than the dollar. This is very significant considering that China is the world’s largest oil consumer as of last year.
Maturity and synchronicity of resistance needs to be developed further to take the ultimate risk off the table in confronting the US to end its despotic adventurism. Russia and China best understand the tide is turning against the hegemon and they alone seem to have the nerves, the resources and the resolve required to bide time and strengthen bridges until some of that sentiment is reflected in as many Countries as possible at a State and military level.
A concerted and singleminded majority of feet being put down is vital to quash US ambitions and to demonstrate to the US the absolute futility on its part in continuing to pursue full spectrum dominance. Turkey’s role in it to wake up the NATO lackeys is integral, only the tools available can be put to use, hopefully it proves up to its task. Iran, Pakistan, DPRK etc are all major players whether they want to be or not, they’re in the scope of the global pariahs work. If it doesn’t work we’re all going to lose, but that certainly won’t be Russia’s fault. If China and Russia fail in their valiant attempts to restore sane and pragmatic, lawful and respectful global paradigm to a multipolar World, choking the petrodollar and alleviating American’s financial chokehold on the planet, nobody can black them. The US is as likely to lash out as to listen to reason. Modesty is not in its exceptional dictionary. The onus is on us all to apply pressure on our pathetic excuses for Governments to step up to the plate to strengthen the possibility of attaining a diplomatic solution before it’s off the table and mutually assured annihilation is all that’s left. If we lose it’s ultimately ourselves we’ll no longer have to blame.
The US corp is in its death throws, when it went into chapter 7 it forced the Territories into Chapter 11. When that happened, the military stepped in, America First, with Trump as signatory and figure head. The Republic, which has been vacant for the 150 years will emerge from this. We have been averting ww III for years now, expect that to continue. Meritocracy is the paradigm shift. Good character is now the commodity.
Once again different pres same old message, MORE MONEY GIVEN FOR WAR MACHINES…. oh but it means jobs… really yes so you can get killed eventually by the worlds blowback… what is wrong with Zionist Murikan thinking??? cant see any further than ‘we got more than you’ and might is right,when it obviously is NOT.
Disgusting inhuman’s at the top, taking orders from rothschilds isrealhellhole of destruction.
I have been one sounding the alarm about BRICS and its intent to step outside the restrictions of the petro-dollar.
The United States has unfortunately been taking dramatic actions in this century to acquire petro-security for its foreseeable future through false flag and armed aggression which I condemn when a more unified effort suitable to all nations would be more equitable and less upsetting to the world than more hot or cold war.
Understanding that the US , as most countries do, have strategic plans that seek optimal outcomes in a self-serving manner a transition off the petro-dollar would significantly impact the economic security of the US, particularly if this transition is effected too rapidly.
Some within the US deep state / shadow govt obviously do not want these transitions to occur at all and I submit that this is the underlying process that brought us the recent coup in Saudi Arabia and the $600 B arms deal with the US, likely designed to keep SA within the petro-dollar scheme/agreement.
Frankly most of the current world geopolitics is geared around the varying factions relating to keeping or dumping the petro-dollar. However, if this is all done properly with wary but wise intellects the current paradigm, if it refrains itself from grave war, surely can result in a system of fluid exchange processes between the two dominating petro-currencies as the Chinese themselves cannot afford to simply overturn the petro-dollar basket within the world’s apple cart.
You may be SHOCKED to learn that OUR so-called “Leaders” SOLD-out this country to the Chinese LONG AGO (2009 to be exact)…PLUS the Chinese our using “Eminent Domain” to BUY OUT the ENTIRE country…ALL this time we have been LIED to about EVERYTHING FOLKS!
NOW you should SEE WHY they are moving to overtake our currency too…WAIT till you SEE what the Chinese have been up to LONG AGO!
Watch: “The LIE the Vatican told”….THERE you will learn ALL about what’s REALLY GOING ON…ABOUT EVERYTHING!
To read about the Chinese version of the NWO!!!
Its contained in video series # 4 & 5 of: http://www.youtube.com/watch?time_continue=4&v=RcBowjBTE_s/
Make sure to take notes!!!
Well it is heartening to read comments from enlightened folks -all of you mentioned the USA’s imperial blood-bath. Most people don’t see the USA as an ugly beast mowing down humans. It is. And thank goodness for China and Russia putting up some resistance to the USA/NATO aggressions.
It is quite likely that the USA will stop the pretense and go right into hot war over this currency ploy. China and Russia are the voices of reason and hopefully, as suggested here, they will proceed slowly… At least from their public statements, BRICS has good intentions for the world. The USA too, if they don’t keep pushing.
NO MONEY!! International agreement like after WW2. – the best part was “no nation’s military shall cross another nation’s borders”[and that way there could not be another WW]. Geneva Convention, right, thank you.