The secret financial war between the west and east is heating up. China has been slowly making moves to stop supporting the petrodollar for several years, and recently began devaluing its currency.
Amid these events, there have been several moves offensive moves against the Asian nation. There have now been four explosions in China’s industrial regions, with some theories circulating that these are part of the US led’s effort regain control over the financial system.
Whether or not this effort is a benefit to humanity remains unclear. These events could be evidence of Cabal groups fighting amongst themselves for global domination and control.
Regardless, our ability to gain key knowledge and unify collectively towards freedom and justice are always available to us. We merely need to set aside petty differences and focus on creating a sustainable world for our children and generations to come.
Here is a list of related articles:
Related 25 Signs (Plus 14 More) That The Global Elite’s Ship Is About To Sink
Related Another Chinese Chemical Plant Explodes, Huge Clouds Of Black Smoke Billow Skyward
Related China’s Plan to Exit the Fiat Stock Market Confirmed
Related Chinese Navy Over Earthquake Swarm | Major Earthquakes Strike Atka Volcanic Center in Alaskan Aleutian Islands
China is planning to launch its own oil benchmark in October, similar to Brent and WTI, striving for a more important role in establishing crude prices. Unlike the Western benchmarks, the Chinese contracts will be nominated in the yuan, not the US dollar.
Shanghai International Energy Exchange sent a draft futures contract to market players in August, Reuters reported quoting sources.
Oil futures will be the first Chinese contract to permit direct participation of foreign investors. However, this is not the first step for greater oil market openness in China. In July, Beijing allowed private companies to import crude. Previously importing was only done by state-run majors such as Sinopec, China National Petroleum Corporation and China National Offshore Oil Corporation, the Xinhua news agency reported.
#China ditches US dollar, approves usage of ruble in border city http://t.co/EG8ehJn0fl pic.twitter.com/tx70Cv0bY0
— RT (@RT_com) August 10, 2015
A Shanghai-based contract will compete in the crude futures market, which is worth of trillions of dollars and is dominated by two contracts, London’s Brent, seen as the global benchmark, and WTI, the key U.S. price.
North Sea, Brent oil was first developed in the 1970s. The ICE Brent futures contract was developed in 1988. With an approximate output of only 1 million barrels per day, this blend is considered a benchmark and its contracts are now used to set prices for roughly 2/3 of the world’s oil.
China is one of the world’s largest oil buyers. Nearly 60 percent of its oil consumption comes from imports.