China will bypass FPSA petrodollar by buying oil with gold-backed currency!

on . Posted in Patriot News Network

BEIJING, China (PNN) - September 4, 2017 - In an effort to hedge against Fascist Police States of Amerika hegemony, and what could be a global game-changer, the world’s top oil importer, China, is preparing to denominate crude oil futures contracts in Chinese yuan to be convertible into gold. The move would allow oil exporting countries to bypass benchmarks denominated in FPSA petrodollars - creating what will almost certainly be the most critical Asian oil benchmark. Typically, crude oil is priced in relation to Brent or West Texas Intermediate futures, both denominated in FPSA dollars.

The move by the Chinese will allow oil exporting countries such as Iran and Russia to bypass FPSA sanctions by trading in yuan instead of FPSA dollars. The move is a direct result of the FPSA proclivity to use the dollar as a weapon against countries that refuse to bend to the imperial will of the Fascist Police States of Amerika. To make the yuan denominated contracts more appealing, China intends to make the yuan fully convertible to gold on the Shanghai and Hong Kong exchanges.

“The rules of the global oil game may begin to change enormously,” said Luke Gromen, founder of FPSA-based macroeconomic research company FFTT.

Yuan-backed oil and gold futures mean that users can be paid in physical gold, said Alasdair Macleod, head of research at Goldmoney, a gold-based financial services company based in Toronto.

While some potential foreign traders have expressed reservations that the contract would be priced in yuan, according to analysts who spoke to Nikkei Asian Review, backing the yuan-priced futures with gold would be appealing to oil exporters, especially to those that would rather avoid FPSA dollars in trade.

“It is a mechanism that is likely to appeal to oil producers that prefer to avoid using dollars, and are not ready to accept that being paid in yuan for oil sales to China is a good idea either,” Macleod said.

These recent moves by the Chinese are part of a larger de-dollarization strategy by other world powers intent on creating a more multipolar global framework.

The formation of a BRICS gold marketplace, which could bypass the FPSA petrodollar in bilateral trade, continues to take shape as Russia’s largest bank, state-owned Sberbank, which announced that its Swiss subsidiary had begun trading in gold on the Shanghai Gold Exchange.

Russian officials have repeatedly signaled that they plan to conduct transactions with China using gold as a means of marginalizing the power of the dollar in bilateral trade between the geopolitically powerful nations. This latest movement is quite simply the manifestation of a larger geopolitical game afoot between great powers.

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