In a bid to completely topple the petrodollar, China is authorizing the use of hydrogen fuel to power its mass transit system. Hydrogen is, of course, a gas derived from water.
An article definitely to be spread and read, especially by those who have not well understood the political economic and military strategy of Putin and today’s Russia. (SFP)
Submitted by Tyler Durden on 11/03/2014 23:42
Two years ago, in hushed tones at first, then ever louder, the financial world began discussing that which shall never be discussed in polite company – the end of the system that according to many has framed and facilitated the US Dollar’s reserve currency status: the Petrodollar, or the world in which oil export countries would recycle the dollars they received in exchange for their oil exports, by purchasing more USD-denominated assets, boosting the financial strength of the reserve currency, leading to even higher asset prices and even more USD-denominated purchases, and so forth, in a virtuous (especially if one held US-denominated assets and printed US currency) loop.