saudi arabia

While most of the financial world is paying attention to the U.S. stock market reaching another high, quietly, a major announcement came out of China that will put them on the global currency map like never before.  China announced in September the creation of future Oil contracts, which will be open to international traders, and countries.  What makes this historical move unique, is that payments will be made in their country’s currency, the Yuan, which is convertible to Gold. How does a country get their currency to compete with the U.S. Dollar?  Simple, first set up their currency to be able to trade in the largest commodity in the world, Oil.  Then, make those payments in the second largest traded commodity globally, Gold.  This announcement is major because China has done just that!  While this move provides the first official link between Oil and Gold, the stronger link is with the Chinese currency and Gold. [Read more…] about October Newsletter – Black Gold for Yellow Gold, The Trade That Changes The World