from Miles Franklin:

This Could Be the Start of the Petroyuan

Michelle Makori, President & Editor-in-Chief, Miles Franklin Media, and Andy Schectman, Founder & CEO of Miles Franklin Precious Metals, break down a major shift that could challenge the global financial system. For decades, the petrodollar has been the foundation of global trade – oil priced in U.S. dollars, with revenues recycled back into U.S. assets. But that system may now be under pressure. Reports suggest Iran is allowing oil shipments through the Strait of Hormuz only if payments are made in Chinese yuan. At the same time, China is building alternative payment systems like mBridge, while expanding infrastructure that allows yuan-based oil trade to be converted directly into physical gold. Deutsche Bank is now warning that this conflict could test the dollar’s role in global trade and potentially accelerate the shift toward what some are calling the “petroyuan.” So what happens if oil is no longer priced in dollars?