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Posts Tagged: “yuan“

Saudi Arabia’s De-dollarization Explained
The longstanding US-Saudi petrodollar agreement is unraveling, with Riyadh inching towards diversified currency deals including the yuan. Our guest commentator sheds light on the history and present challenge to the petrodollar, and what this means for US dollar decline.

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Is the Chinese Yuan Beginning to Chip Away at Dollar Dominance?
China appears to be chipping away at dollar dominance. While there is no indication that the dollar is in imminent danger of toppling from its perch as the global reserve currency, more central banks are warming up to the yuan.

Looser Monetary Policy in China Could Further Boost Chinese Gold Demand
While the Federal Reserve talks about tightening monetary policy, the Chinese central bank is heading in the opposite direction. This could boost gold demand in that country even further. Earlier this month, the People’s Bank of China announced a 0.5% cut in financial institutions’ required reserve ratio (RRR). According to the World Gold Council, this move […]

War on Cash: Chinese Digital Currency Gets a Boost
Last summer, the Chinese government launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending. Last week, the digital yuan got a boost when China’s biggest online retailer announced […]

China Ups Ante in War on Cash With Rollout of Digital Currency
The Chinese government has launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending. It also raises some concern that the Chinese could threaten dollar-dominance.

Dollar’s Share of Global Currency Reserves at 6-Year Low; Yuan’s Share Biggest Ever
The percentage of US dollars held as currency reserves globally dropped to the lowest level in nearly six years in the second quarter of 2019 according to the latest IMF data. Meanwhile, Chinese yuan made up the biggest percentage of reserves ever. The dollar’s shrinking share of global reserves comes as countries like Russia and […]

Peter Schiff: We Have Global Currency Weakness; They’re All Losing Value When Priced in Gold
Several currencies have been strong against the dollar over the last couple of days, but as Peter Schiff said in his podcast, the biggest gainer wasn’t a currency at all. It was real money – gold. Gold hit six-year highs on Monday and set records in a number of currencies. It continued to move upward […]

Jim Rogers: The Dollar Is on the Way Out
Investment guru Jim Rogers recently told RT that the dollar is just a few short years away from losing its global dominance. In the next few years, the American dollar is going to lose its position as the world’s reserve currency and the world’s medium of exchange.”

The Petroyuan Is For Real
Late last month, China finally launched its much anticipated yuan-denominated oil futures contract. Many analysts think this is yet another sign that the mighty dollar’s world dominance is coming to an end.

Turkish President Fires Another Shot in an Escalating War Against the Dollar
Turkey went on a gold-buying spree in 2017 and that trend continued in the first two months of 2018. Turkish President Recep Tayyip Erdoğan likes gold and it’s pretty clear the president has been pushing Turkey’s central bank to buy gold and reduce foreign currency reserves in an effort to move away from dependence on […]

A Nightmare Before Christmas: China Set to Launch Yuan-Denominated Oil Contracts
China wants to dethrone the dollar and it could take a step in that direction before the end of the year. According to numerous reports, China is prepared to launch a yuan-denominated oil futures contract before Christmas. Last week, the Shanghai International Energy Exchange successfully completed a fifth round of yuan-backed oil futures testing. According to […]