China sees new world order with oil benchmark backed by gold

Re:China sees new world order with oil benchmark backed by gold by mahrain on Sunday September 03, 2017 @02:05AM (#15159931)

Last one to try to circumvent the petrodollar was Ghadaffi. It seems China now takes the opportunity of the current political climate to try it themselves.

(Petrodollar principle is explained well by Adam Curtis' documentary "Bitter Lake")

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Re:China sees new world order with oil benchmark backed by gold by barry-cotter on Sunday September 03, 2017 @06:01AM (#15160602)

Qaddafi's mistake was in giving up WMDs not trying to price oil in something other than dollars. Saddam is gone, Qaddafi is gone, Kim, Assad and Iran are still there. Never, ever give up WMDs.

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Re:China sees new world order with oil benchmark backed by gold by appleflaxen on Sunday September 03, 2017 @08:40AM (#15161135)

that is an amazing point. the lesson to future authoritarians is clear, isn't it.

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