Whoever thought, Russia gave China the option to pay for delivery of its Coal in any currency it (China) wants. Several Chinese firms used local currency to buy Russian coal in March, and the first cargoes will arrive this month, according to Chinese consultancy Fenwei Energy Information Service Co. said.
These will be the first commodity shipments paid for in Yuan since US/Europe penalized Russia and cut several of its banks off from the international financial system.
One thing is sure: In terms of future currencies, we’re going to see the adoption of new payment systems outside the SWIF. Examples abound, nations trading in local currencies, adopting future cryptocurrencies or digital currencies in multilateral formats such as the Eurasian Economic Union (EAEU) and the Association of Southeast Asian Nations (ASEAN).
The pillar of future trade will be in currencies which are backed by real wealth, to include gold, perhaps silver and a basket of commodities.
David
Ukraine came out and said Navalny's death wasn't in fact Putin (as Biden and the US Policy makers were so quick to decry)! David & Elizabeth react to the news in this short reaction video!
This class was taught LIVE on November 8, 2023, at 06:00 PM CT (-6GMT)
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China is on war alert: China doesn't want war, but, it will strike back with all its might if attacked.
