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Jim Willie tells Elijah Johnson and James Anderson the launch of the gold and oil Yuan contracts is the most important financial event in a generation.
The Chinese want their own place in global finance. No longer does the dollar have a monopoly on oil. “This is the end time for the Dollar’s dominance.” China is moving away from the U.S. not solely by leaving the Dollar, but also through the trade conflict.
Willie predicts China will demand the Saudi’s sell oil in RMB terms. This will be a “knife in the heart of the Petrodollar.”