{"id":1399,"date":"2014-11-11T06:38:59","date_gmt":"2014-11-11T11:38:59","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1399"},"modified":"2014-11-11T06:39:00","modified_gmt":"2014-11-11T11:39:00","slug":"petrodollar-panic-china-signs-currency-swap-deal-with-qatar-canada-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1399","title":{"rendered":"Petrodollar Panic? China Signs Currency Swap Deal With Qatar & Canada | Zero Hedge"},"content":{"rendered":"

Petrodollar Panic? China Signs Currency Swap Deal With Qatar & Canada | Zero Hedge<\/a>.<\/p>\n

The march of global de-dollarization continues.<\/strong><\/em>\u00a0In the last few days,\u00a0China has signed direct currency agreements with Canada becoming North America’s first offshore RMB hub,<\/strong>\u00a0which CBC reports<\/a>\u00a0analysts suggest “could double maybe even triple the level of Canadian trade between Canada and China,” impacting the need for Dollars.But that is not the week’s biggest Petrodollar precariousness news,\u00a0as The Examiner reports,<\/a>\u00a0a\u00a0new chink in the petrodollar system was forged as China signed an agreement with Qatar to begin direct currency swaps between the two nations<\/strong>\u00a0using the Yuan, and establishing the foundation for new direct trade with the OPEC nation in the very heart of the petrodollar system. As Simon Black warns,\u00a0“It\u2019s happening… with increasing speed and frequency.”<\/em><\/span><\/p>\n

As CBC reports,<\/em><\/a><\/p>\n

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Authorized by China’s central bank,\u00a0the deal will allow direct business between the Canadian dollar and the Chinese yuan, cutting out the middle man \u2014 in most cases, the U.S. dollar.<\/strong><\/span><\/p>\n

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Canadian exporters forced to use the American currency to do business in China are faced with higher currency exchange costs and longer waits to close deals.<\/p>\n

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“It’s something the prime minister has been talking about. He wants Canadian companies, particularly small- and medium-sized businesses, doing more and more work in China, selling goods and services there,” said CBC’s Catherine Cullen, reporting from Beijing.<\/p>\n<\/blockquote>\n

Sovereign Man’s Simon Black has some ominous thoughts on Canada’s move…<\/em><\/a><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Petrodollar Panic? China Signs Currency Swap Deal With Qatar & Canada | Zero Hedge. The march of global de-dollarization continues.\u00a0In the last few days,\u00a0China has signed direct currency agreements with Canada becoming North America’s first offshore RMB hub,\u00a0which CBC reports\u00a0analysts suggest “could double maybe even triple the level of Canadian trade between Canada and China,” […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[103,130,1025,600,1026],"class_list":["post-1399","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-canada","tag-china","tag-de-dollarization","tag-opec","tag-qatar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1399"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1399\/revisions"}],"predecessor-version":[{"id":1400,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1399\/revisions\/1400"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}