Wonder how many countries will comply with this? If several get on board this could get interesting
GoneSilent on
How would that work? Show your receipt?
Saberinbed on
US economy on the bring of collapse
Nearby-Lab0 on
Petrodollar 1971 – 2026
Typingdude3 on
1 Yuan = .14 of a dollar. If it goes much higher than that the Chinese export market will collapse. Yuan is a worthless currency on purpose, can’t see China wanting to change that.
Savoir_faire81 on
Expected.
The Iranians have figured out that regardless of whatever is bombed they have a stranglehold on the strait. The US cant stop them without boots on the ground. So unless that happens the strait just became part of Irans territorial waters.
If Trump chickens out or doesn’t completely end the regime this will be the new norm and Iran will have huge leverage on the global economy. If Trump sends troops in it will be another decades long bloodbath. There isn’t a win scenario here for the US.
rizorith on
The destruction of the US dollar will be the biggest legacy of Trump, assuming it’s not the destruction of democracy.
cheetuzz on
can someone ELI5 what this means?
Gomnanas on
Uh…Wouldn’t this be GOOD for countries like South Korea? The won to dollar exchange rate is awful. It’s probably cheaper to trade in yuan lol
locnloaded9mm on
By the way price of the brick going up.
kvas_taras on
Putin will instruct minion Trump to pay
WasThatInappropriate on
Loss of reserve currency status is what, like stage 5 of 7 in the empire collapse model right?
Shamino79 on
The actual cargo from all ports must be traded in yuan? Or they are charging a passage fee in yuan?
CryptoThroway8205 on
I heard they’re changing the name to BRICUS to honor the commitment of the US to get the world off the petrodollar.
Student-type on
So they can buy more radars and mines
Dependent-Bluejay289 on
Why not in rial? Lmfao I don’t get it.
Polardragon44 on
None of y’all seemed to have read it.
“Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz on the condition that their cargo is priced in Chinese yuan, a senior US official told CNN.”
Iran hasn’t even said anything officially. It’s a US official who mentioned it.
blufin on
The de-dollarisation of the oil trade would be a nail a significant factor in the downfall of the dollar as the primary global reserve currency. But I still would put trust Yuan as a replacement.
TechNoirLabs on
Time to start learning mandarin
Timeformayo on
Oh, so this is how the US dollar loses its place as the global fiat currency? This’ll be awesome for inflation! Buckle up!
#MAGDA (Make America Great Depression Again)
jrock2403 on
I can see the US trying to pay by sending some mexican Juans…
jojoblogs on
Does China really want their currency to get more valuable? That would seriously hurt their export economy, no?
flavorfox on
How do they know what a given ship is trading its oil in?
DamNamesTaken11 on
It’s breathtaking how they clearly thought that having a “decapitation strike” would work instead of backfire (Mojtaba is considered to be more a hardliner than his father, and even if he dies they have other hardliners ready to take power), forgot that Iran has literal missile cities hundreds of meters deep so no bunker buster can reach, and no plan for Strait of Hormuz closure.
Just a sheer display of incompetence that happens when the people you hire only qualification is “willingness is a 10 to kiss Trump’s anus”.
on_fire_kiwi on
Well played China, well played
Specific_Success214 on
Iran with the few cards they have to play have been smart.
26 Comments
Wonder how many countries will comply with this? If several get on board this could get interesting
How would that work? Show your receipt?
US economy on the bring of collapse
Petrodollar 1971 – 2026
1 Yuan = .14 of a dollar. If it goes much higher than that the Chinese export market will collapse. Yuan is a worthless currency on purpose, can’t see China wanting to change that.
Expected.
The Iranians have figured out that regardless of whatever is bombed they have a stranglehold on the strait. The US cant stop them without boots on the ground. So unless that happens the strait just became part of Irans territorial waters.
If Trump chickens out or doesn’t completely end the regime this will be the new norm and Iran will have huge leverage on the global economy. If Trump sends troops in it will be another decades long bloodbath. There isn’t a win scenario here for the US.
The destruction of the US dollar will be the biggest legacy of Trump, assuming it’s not the destruction of democracy.
can someone ELI5 what this means?
Uh…Wouldn’t this be GOOD for countries like South Korea? The won to dollar exchange rate is awful. It’s probably cheaper to trade in yuan lol
By the way price of the brick going up.
Putin will instruct minion Trump to pay
Loss of reserve currency status is what, like stage 5 of 7 in the empire collapse model right?
The actual cargo from all ports must be traded in yuan? Or they are charging a passage fee in yuan?
I heard they’re changing the name to BRICUS to honor the commitment of the US to get the world off the petrodollar.
So they can buy more radars and mines
Why not in rial? Lmfao I don’t get it.
None of y’all seemed to have read it.
“Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz on the condition that their cargo is priced in Chinese yuan, a senior US official told CNN.”
Iran hasn’t even said anything officially. It’s a US official who mentioned it.
The de-dollarisation of the oil trade would be a nail a significant factor in the downfall of the dollar as the primary global reserve currency. But I still would put trust Yuan as a replacement.
Time to start learning mandarin
Oh, so this is how the US dollar loses its place as the global fiat currency? This’ll be awesome for inflation! Buckle up!
#MAGDA (Make America Great Depression Again)
I can see the US trying to pay by sending some mexican Juans…
Does China really want their currency to get more valuable? That would seriously hurt their export economy, no?
How do they know what a given ship is trading its oil in?
It’s breathtaking how they clearly thought that having a “decapitation strike” would work instead of backfire (Mojtaba is considered to be more a hardliner than his father, and even if he dies they have other hardliners ready to take power), forgot that Iran has literal missile cities hundreds of meters deep so no bunker buster can reach, and no plan for Strait of Hormuz closure.
Just a sheer display of incompetence that happens when the people you hire only qualification is “willingness is a 10 to kiss Trump’s anus”.
Well played China, well played
Iran with the few cards they have to play have been smart.