'PetroYuan' Futures Launch With A Bang, Volume Dominates Brent As Big Traders Step In

originally posted by: LogicalGraphitti
The upside to this could be that America will find new ways to drive the economy and finally kick the oil habit. We still have a free-market mentality and there are always people who will take a risk to start a new venture. I say its time to let China choke on oil while we come up with a clean alternative and sell that to the world. Log live the electro-dollar!

It won’t be that simple.

With major oil exporters finally having a viable way to circumvent the petrodollar system, the U.S. economy could soon encounter severely troubled waters. First of all, the dollar’s value depends massively on its use as an oil trade vehicle. When that goes away, we will likely see a strong and steady decline in the dollar’s value.

www.zerohedge.com...

a reply to: CharlesT

Here is a less sensational take on the subject by Reuters:

www.reuters.com...