Yuan Denominated Oil Futures Exploding in Trading Volumes; Dollars Will Flood Back to USA

PetroYuan Futures Open – Over 10 Billion Notional Trades In First Hour –Zero Hedge
“After all the preparation, all the expectation, cheerleading and doomsaying, China’s Yuan-denominated crude oil futures contract began trading tonight and appears to be off a good start with well over 10 billion yuan notional traded within the first hour. Additionally, well over 23,000 contracts have traded within the first hour for a notional trading volume of over 10 billion yuan – more than $1.5 billion notional… signaling significant demand. Offshore Yuan is moving in sync with ‘Petroyuan’ futures – as WTI tends to track the USD….After numerous ‘false starts’ over the last decade, the ‘petroyuan’ is now real and China will set out to challenge the ‘petrodollar’ for dominance. Adam Levinson, managing partner and chief investment officer at hedge fund manager Graticule Asset Management Asia (GAMA), already warned last year that China launching a yuan-denominated oil futures contract will shock those investors who have not been paying attention. This could be a death blow for an already weakening U.S. dollar, and the rise of the yuan as the dominant world currency….The petrodollar is backed by Treasuries, so it can help fuel U.S. deficit spending. Take that away, and the U.S. is in trouble. It looks like that time has come…”

 


Unless You Want to Go to Prison, Read This Before Taking Money Out of Your Bank –The Common Sense Show
“The courts have ruled that once you deposit your money in the bank, the bank owns your money. You virtually are paid no interest for the hard earned money that you place in the bank….The biggest reason to take your money out of the bank is because it has absolutely no protection. The FDIC has only about $25 billion in its deposit insurance fund, which is mandated by law to keep a balance equivalent to only 1.15% of insured deposits….Taking what was your money out of the bank is no longer a matter of walking up to your friendly teller with a withdrawal slip and the teller cheerfully honors your request and you calmly exit the bank with your money in tow. In fact, your teller is trained to look for certain indicators in any cash withdrawal of any significance….Federal law requires that the bank file a report based upon any withdrawal or deposit of $10,000 or more on any single given day….Structuring transactions to prevent a CTR from being reported can result in imprisonment for not more than five years and/or a fine of up to $250,000….The best way to avoid getting your money caught in the bank in the midst of a bank run would be to not let the lion’s share of your money ever cross the bank…Don’t put cash in a safety box because the courts have also ruled that the banks own your safety boxes.”

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