The Survivalist News

Is China About to End of the Global Financial System as We Know It?

Friends, the fact that most oil futures globally are traded in US dollars is a key reason for the greenback being the global reserve currency. China and Russia are trying to move the world away from using the US dollar as the reserve currency. Why should you care? The US dollar being the reserve currency brings tremendous benefits to US and allows us to print money. Since the rest of the world wants and needs US dollars, we so far haven’t been truly hurt by our endless printing of money. If/when US dollar ceases to be reserve, this may dramatically hurt us.

http://oilprice.com/Latest-Energy-News/World-News/China-Readies-Yuan-Priced-Crude-Oil-Benchmark-Backed-By-Gold.html

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