I think that you're right in the the petro yuan won't kill the US dollar. It may facilitate it's decline though. The US has been using sanctions as a weapon against other countries where it can freeze their dollars held in US banks and they all need to hold dollars if they want to buy oil. So, this is the beginning of undoing some of this.
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I think gold and silver (monetary metals) will be the biggest beneficiaries.
I agree but we all know they are going to fight tooth and nail to keep them where they're at. A rising gold price is indicative of a failing currency and they are acutely aware of this. I think we'll see increased volatility in the 2nd quarter and entrance into the bear market in the 3rd.
you took the words out of my mouth @read3986, the US would go any length to ensure they are in charge, they wouldn't want to loose their influence to determine the world's economic power
Thanks dhamtex, we're seeing a good example of what you're talking about with Syria. Isis is gone and now the US is openly occupying a foreign country without the government's consent and is trying to split the place in half. The economic problems we're going to see 3rd quarter should bring a halt to that sort of thing.