The Petro-Yuan Cometh January 18th And The Launch Could Coincide With A Debt Reset Among Nations

The launch of the Petro-yuan is now imminent. The “huge story”, as it appears, be a “wake up call” for the West that seems to happily be ignoring this potential bombshell that is China’s looming launch of domestic oil futures trading.
Besides serving as a hedging tool for Chinese companies, the contract will aid a broader Chinese government agenda of increasing the use of the yuan in trade settlement… and thus the acceleration of de-dollarization and the rise of the Petro-Yuan.
China has been planning this for a number of years and given rising tensions, now seems like a good time for China to flex a little.  The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay in local currency. Also, foreign traders will be allowed to invest — a first for China’s commodities markets — because the exchange is registered in Shanghai’s free trade zone. Even  Bloomberg admits there are implications for the U.S. dollar’s well-established role as the global currency of the oil market.
To get up to speed on all things petro-yuan, here’s recent coverage from Zero Hedge (will be included in today’s email blast: Petro-Yuan Looms – How China Will Shake Up The Oil Futures Market)
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