Dedollarization of the world economy continues – China for the first time purchased liquefied natural gas for the yuan, 65 thousand tons of LNG were purchased from the UAE.
And as ordered: for the first time in its history, the US Federal Reserve suffered an operating loss.
🇨🇳 Dedollarization of the world economy continues – China for the first time purchased liquefied natural gas for the yuan, 65 thousand tons of LNG were purchased from the UAE.
— RADAR ID INTL (@RADARIDNEWS) March 29, 2023
However, it is too early to talk about the de-dollarization of the world. The power of a currency cannot be decreed. It is built over years and even decades, by inspiring confidence in traders and investors. For this to happen, a solid economy, liquid and open financial markets, and credible regulations are needed.
The dollar replaced the pound as the world’s currency in the 1920s because the U.S. economy was thriving while the U.K. economy was weakened by the war. The Bretton Woods Agreement, signed 20 years later, only formalized the dollar’s dominance.
worldcrunch.com/business-finance/dedollarization-financial-markets-europe
How can this US administration fail in every single thing?
HINESE national oil company CNOOC and France’s TotalEnergies have completed China’s first yuan-settled liquefied natural gas (LNG) trade through the Shanghai Petroleum and Natural Gas Exchange, the exchange said on Tuesday (Mar 28).
Approximately 65,000 tonnes of LNG imported from the UAE changed hands in the trade, it said in a statement.
TotalEnergies confirmed to Reuters that the transaction involved LNG imported from the UAE but did not comment further.
CNOOC did not immediately respond to a request for comment.
China has placed an emphasis on settling oil and gas trades in yuan in recent years in a bid to establish its currency internationally and to weaken the US dollar’s grip on world trade.
Russia has increasingly embraced the yuan amid Western sanctions.
www.businesstimes.com.sg/international/china-completes-first-yuan-settled-lng-trade
Saudi Arabia just announced a trade alliance with China, Russia, India, Pakistan, and 4 Asian nations to decrease reliance on US dollar.
High inflation and the banking crisis are putting even more pressure on the USD.
Follow us @KobeissiLetter for analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) March 29, 2023
All three of these articles came out today.
Janet Yellen and the clowns in Washington DC are asleep at the wheel as to what is happening globally.
US policy is lost … pic.twitter.com/u0UXFMVIys
— Wall Street Silver (@WallStreetSilv) March 29, 2023
Building on this, if there is a sudden collapse forcing nations to sell US treasuries to support their own currency then what we're really talking about is The Great Reset not Operation Sandman
Again this is exactly what the US wants by blowing up Nord Stream & isolating Europe pic.twitter.com/4IAheA02bL
— Financelot (@FinanceLancelot) March 29, 2023
Apparently "Operation Sandman" is the new conspiracy floating around, a 100 nation dump of US treasuries to collapse the Dollar
#1 problem with this theory is needing Dollars to sell US treasuries. A skyrocketing Dollar is exactly what the US wants to print & buy their own debt t.co/mJMHLSWUmu
— Financelot (@FinanceLancelot) March 29, 2023
h/t 1030