Long standing conspiracy theory comes true.
Chinese Communists planned this to weaken the US.
They started buying oil without US dollar backing and the oil countries accepted the deals last year.
Aren’t the Chinese linking the yuan to the dollar along a ratio of 6-8 to 1?
If that’s the case, isn’t the dollar the currency underlying the yuan?
All that talk about oil being traded without the dollar is mere talk … of no economic consequence.