The Day Of Reckoning Is Upon Us! China Ditches US Dollar!

We asked for it, and it’s finally here. China is making huge strides towards ditching the US Dollar for settlements. That’s right, no more relying on America’s favorite currency. So where does China plan to go from here?

China Inks Deal With Brazil

Nothing is more important than having allies. And it looks like China is getting up close and cozy with Brazil. Just a few weeks ago, it was reported that China and Brazil signed agreements that allow yuan and Brazilian real to be used in settling transactions between the two countries. This could reduce the costs and volatility of transactions, since China and Brazil can now trade without having to use the US Dollar.

China Makes First Yuan LNG Purchase

China’s showing they mean business when it comes to ditching the dollar. Over the weekend, China made its first yuan-denominated purchase of liquefied natural gas (LNG). This purchase of LNG from Shell is said to be “mark[ing] a breakthrough point in the foreign energy trade under the yuan payment system”. This is huge news, considering the LNG industry is valued at over $100 billion!

The Future Is Now

It looks like China’s leap into the brave new world of currency-hopping is already taking effect. With these new agreements and investments in place, other countries may just follow suit and move away from the US Dollar. Bye bye greenbacks, you were good to us!

Time To Stock Up On Yuan?

It’s official – China is really going to be taking a major leap into the future of currency settlement. Now that China is working towards a yuan-powered world, you might want to start thinking about stocking up on some yuans. Who knows, they may one day be worth more than US Dollars!