The myth of the inevitable rise of the petroyuan

Bloomberg/Janier Bias/2-26-2023

“If you believe in conspiracy theories, the introduction of a petroyuan, and the ensuing collapse of the petrodollar, would be a first domino, potentially weakening the whole US financial system. Very serious stuff. A redrawing of the global economic map. The backdrop to crisis and wars. Astonishing as it is, the narrative is an illusion.”

USAGOLD note: An argument similar to our own made several times on this page. It’s the difference between sayin’ and doin’ and we are a long way off from the doin’– at least on any appreciable scale.