The Shanghai Futures Exchange aims to extend its commodities warehousing network beyond China’s borders.
It looks like China is looking to challenge London’s standing as the GLOBAL hub for metals pricing.
The pieces are falling into place in front of everyone.
Read: https://twitter.com/GoldTelegraph_/status/1679495694107672576
The US Dollar and Energy
In the 1970s, under Presidents Nixon and Ford, the U.S. made a deal with Saudi Arabia. The U.S. would protect Saudi Arabia, and Saudi Arabia would make sure oil was sold in dollars.
This meant the world needed dollars since every country on the planet needed oil to keep their economies from grinding to a halt.
Many dollar supporters don’t see Saudi Arabia’s growing ties with China, improved relations with Iran, and openness to trade in other currencies directly threatening the U.S. dollar.
Read full article: https://twitter.com/goldtelegraph_/status/1678863290313613313?s=46
Meanwhile, China id falling apart as a result of so much pervasive debt is can’t be measured. China is losing rapidly the world trade and financial structure required to be a leader.
The article is a puff piece that is devoid of reality