China Moves to Destroy US Dollar As They Launch the Gold-backed Petro-Yuan

China has just launched the petro-yuan, a gold-backed currency directly challenging the US dollar signaling the beginning of the end of the American greenback.

In a massive move against the global dominance of the U.S. dollar, China’s highly anticipated Petro-Yuan has been launched in Shanghai. With China being the world’s largest consumer of oil, this new currency is an international game-changer that was a predicted move by China to directly compete—and subsequently devalue—the US dollar.

Analysts call the plan, announced by Beijing in September, a huge move against the dollar’s global dominance – and reserve currency status.

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