China resetting worlds reserve currency system

[Artdealer]

http://www.livetradingnews.com/china-begins-resetting-worlds-reserve-currency-system-53992.html#.WbD8GsiGPIV

Thoughts?

[Artdealer]

Big news here!

[9000]

USA went to war with countries which tried to trade oil for other than USD, China is a major global player and war with China will be catastrophic, like WWIII catastrophic.

Maybe others will follow and we see EUR/oil markets also.

Bitcoin/oil would be awesome.

[davis196]

http://www.livetradingnews.com/china-begins-resetting-worlds-reserve-currency-system-53992.html#.WbD8GsiGPIV

Thoughts?

Perhaps this has something to do with North Korea and all the drama between USA and Kim.
The US dollar value will decrease and that`s why China wants to do something to change the worlds reserve currency system.China was the biggest US debt holder and the country with the biggest US dollar reserves.The US dollar is not best option for a reserve currency anymore.

[Hydrogen]

Could you post the entire article with a link for verification purposes? As opposed to only a link with no article? It sucks having to open a proxy everytime I want to read something, not wanting to risk being hit by clickbait malware.

This story of china moving towards policies which are less friendly towards the united states is nothing new. Its only the latest in a long chain of events which has undermined the united states as a global superpower over the past 5 decades.

Someone could easily write up a massive conspiracy theory about how the united states has deliberately been attacked from outside and from within with the end goal of destroying any advantage america has in terms of business, defense, education, wealth. While nations like china have been given preferential treatment with the possible end goal of ensuring they emerge as a global power. There's a lot of evidence for it.

[ekoice]

Well,that's a great initiative against US dominance.Ever since 1973,when OPEC countries decided to sell crude oil only for USD has made USD to enjoy the position as a global reserve currency.China and russia has been searching from earlier to create an alternative for trading oil instead of USD.Iran already offered to some countries that it is ready to sell crude oil in local currencies of some countries like india instead of USD.Now,china has gone a step ahead by buying crude oil in RMB Yuan and then those countries could convert RMB Yuan in to gold in hong kong and shangai exchanges.This would definitely decrease the dominance of US in world matters since its USD would start losing its importance.

[TheCoinGrabber]

Could you post the entire article with a link for verification purposes? As opposed to only a link with no article? It sucks having to open a proxy everytime I want to read something, not wanting to risk being hit by clickbait malware.

This story of china moving towards policies which are less friendly towards the united states is nothing new. Its only the latest in a long chain of events which has undermined the united states as a global superpower over the past 5 decades.

Someone could easily write up a massive conspiracy theory about how the united states has deliberately been attacked from outside and from within with the end goal of destroying any advantage america has in terms of business, defense, education, wealth. While nations like china have been given preferential treatment with the possible end goal of ensuring they emerge as a global power. There's a lot of evidence for it.

Well I heard about a lot of accusations about China devaluing the yuan to still keep the country attractive to foreign investors. They won't be able to keep it up though, the labor cost there is increasing and manufacturing would move to cheaper countries like Bangladesh. Still, it irks me that anyone can do that without negative consequences.

Well, nothing has really changed, countries are still at each other's throats even though we no longer live like kingdoms in GOT. China might win this, after all they are not subject to that whim democracies call elections. They can keep to a plan for a long, long time. After all they don't think in terms of presidential terms, they think in centuries.

https://www.thetrumpet.com/14006-chinas-hundred-year-strategy

[Pab]

Here is how China will do that https://asia.nikkei.com/Markets/Commodities/China-sees-new-world-order-with-oil-benchmark-backed-by-gold?page=1
Very smart,thay were buying gold for long time,now biggest nuclear bomb is in his hands,meanwhile dollar  is going down gold and btc are booming,we can see the end of dollar domination,what with usa debt than
1sat-1$

[Artdealer]

Could you post the entire article with a link for verification purposes? As opposed to only a link with no article? It sucks having to open a proxy everytime I want to read something, not wanting to risk being hit by clickbait malware.

This story of china moving towards policies which are less friendly towards the united states is nothing new. Its only the latest in a long chain of events which has undermined the united states as a global superpower over the past 5 decades.

Someone could easily write up a massive conspiracy theory about how the united states has deliberately been attacked from outside and from within with the end goal of destroying any advantage america has in terms of business, defense, education, wealth. While nations like china have been given preferential treatment with the possible end goal of ensuring they emerge as a global power. There's a lot of evidence for it.

Why dont you just google the article?  Do you know how to use your brain?

[inanilujimi]

I think this is a very unusual idea from china.
it is no wonder that China has become a highly developed country in the past a decade.

[skyline247]

I think this is a very unusual idea from china.
it is no wonder that China has become a highly developed country in the past a decade.

Yeah China is known for manipulating their currency in way no other country has been capable of doing in history. It is a big reason why they are becoming a big superpower these days.

[TheJuice]

Not sure honestly. China and cryptos have a long history, I can't see any govt being against cryptos forever. I think govt will need to acknowledge all soon.

[holdingkrypto]

What is clear is that everything is changing and there will be unexpected results and I think good oportunities.

[virasog]

This is not going to affect the crypto world much at all and not really going to have much of an effect anywhere else. The fact is that it is likely not going to complete all the way and it is just something that they are playing around with in an effort to create a stronger base for themselves in the end. The short term is that the value of the pairing of their currency versus others should drop, but that is for the forex market discussions and has nothing to do with anything here.

[Huonghoang1939]

China is creating a domino effect, when the rich guy BTC China pulled the market.
In the future I do not know what China will do next when China has always owned the game BTC

[MoonIsBlue]

China is just making it's next step in the game of chess that they play with the USA.
Honestly I think that a economic shift is imminent and unavoidable the exact outplay of it is what you can speculate on.
It's a process though which is happening already, might take a few decades but it will play out.

[hatshepsut93]

USA went to war with countries which tried to trade oil for other than USD, China is a major global player and war with China will be catastrophic, like WWIII catastrophic.

Maybe others will follow and we see EUR/oil markets also.

Bitcoin/oil would be awesome.

USA won't go to war with nuclear countries or even just countries with strong military, it would be very wasteful and ultimately pointless. But they would definitely retaliate economically.

Eventually oil will drop in its value because of emergence of better energy sources, but bitcoin should definitely aim to replace Dollar as world's most used currency, because its independent from any state.