by Turd Ferguson, TF Metals:
One of the key stories for 2018 will be the emerging “petroyuan” and the threat it will pose to the current monetary system and US dollar hegemony. Alasdair Macleod has studied this idea for years so it seemed only natural to have him in for this discussion today.
As we’ve been discussing recently here at TFMR, the three main items of concern for 2018 are:
- political risk
- geo-political risk
The pending introduction of a yuan-denominated crude oil contract…whether it be based in Shanghai, Dubai or elsewhere…fits squarely into at least two of those three categories.
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