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Rebel Capitalist News

News: Did China Just Do A Deal To Buy Oil In Yuan?

Rebel Capitalist News

George Gammon

Business, Investing

4.71.1K Ratings

🗓️ 12 December 2022

⏱️ 12 minutes

🧾️ Download transcript

Summary

The Rebel Capitalist helps YOU learn more about Macro, Investing, Entrepreneurship AND Personal Freedom.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello fellow rebel capitals hope you're well Josh just sent me an article about China

0:06.4

doing a deal to buy oil in, not dollars.

0:13.7

And although I think someone, although I am someone who thinks the dollar

0:18.0

will be the reserve currency for quite some time,

0:20.9

this is huge. This is still a very, very big deal. So it just shows us that that

0:26.6

transition away from the dollar, although it will take a long time, is happening a lot sooner and it's moving at a very rapid rate.

0:35.5

Let's get over to this article from the Guardian or routers excuse me Reuters I would say

0:40.6

routers. You can tell when my first jobs was working on a construction site.

0:47.6

Okay, we get over to Reuters, that's pronounced right. China to use Shanghai Exchange for you won energy deal with Gulf nations

0:59.8

in other words China wants to buy oil from Saudi Arabia settled in Yuan, not settled in

1:09.2

dollars.

1:10.2

Oh man, Josh, you sent me this thing that's I've reached my limit.

1:15.0

Oh great.

1:19.0

Something that I haven't reached my living on the live stream.

1:22.0

All right let me go over to what we can see here.

1:24.2

Here, I can share my screen.

1:25.9

So China's president, Xizhing ping,

1:28.7

said in Riyadh, which he's down there meeting with, oh, what's King Solomon bin, whatever the guy's name is, the king down there, that China and Gulf nations should make full use of the Shanghai Petroleum and Nat Gas Exchange

1:48.5

as a platform to carry out Yewan settlement of oil and gas trade.

1:52.8

So this is Josh, let me know when you have it up.

1:55.6

I have it up.

1:56.6

You got it up?

...

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