https://www.barrons.com/news/china-brazil-strike-deal-to-ditch-dollar-for-trade-8ed4e799

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China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said Wednesday, Beijing's latest salvo against the almighty greenback.

The deal will enable China, the top rival to US economic hegemony, and Brazil, the biggest economy in Latin America, to conduct their massive trade and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the dollar.

"The expectation is that this will reduce costs... promote even greater bilateral trade and facilitate investment," the Brazilian Trade and Investment Promotion Agency (ApexBrasil) said in a statement.

China is Brazil's biggest trading partner, with a record $150.5 billion in bilateral trade last year.

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https://www.msn.com/en-in/news/world/in-a-first-65-000-tonnes-from-uae-china-completes-yuan-settled-lng-trade/ar-AA19e3Z8

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China's leading oil company, China National Offshore Oil Corporation (CNOOC Group) and France's TotalEnergies have completed China's first yuan-settled liquefied natural gas (LNG) trade on Tuesday through the Shanghai Petroleum and Natural Gas Exchange.

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In recent years, China has emphasized settling oil and gas trades in yuan in a bid to establish its currency internationally and to weaken the dollar's grip on world trade.

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This is extremely worrisome. We have zombie steering the wheel while our enemy takes advantage of the weakness. If the dollar loses petro dollar status, the paper we trade is worthless. Something to keep an eye on.

I don't think the Yuan is going to be the default currency. Those guys just aren't trustworthy.

I was surprised the gap held all day today, especially when it started to reverse lower. We'll see what happens - this gap will certainly fill, but holding a gap is bullish.

Yes it is worrisome. If the dollar weakens/falls, crude rises. Keep some energy in your portfolio. Jotato is not helping this country.

ProgN said:

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$30,000 Millionaire said:

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I don't think the Yuan is going to be the default currency. Those guys just aren't trustworthy.

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Our we? Our spending and debt is only accelerating. What if we lose our reserve currency status and countries holding our debt dump? Hyper-inflation will sink us.

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Hyperinflation in the US would crater the global economy, full stop. If the US, the world's largest market, no longer is buying **** from anyone, who else is going to buy?

It ain't the demographically terminal Chinese, Euros, or Japanese. And it ain't the Chinese who have mal-invested the greatest economic boom in history on ****ty infrastructure and as a result crippled their consumption share of the economy.

Sure, it would be a massive dislocation but the US is the world's largest producer of oil and gas, AND agricultural products. Between Mexico, Canada, and the US, you could actually emerge on the other side in a not terrible place. Additionally, the costs of the USD as the GRC has frankly ****ed the lower and middle classes in this country.

gougler08 said:

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FJ43 said:

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BaylorSpineGuy said:

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I bought the 390P for 4/17. Bought the position at 399.15. Bad move? Seems we are at upper end of channel….

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How about this end of day update? Same chart just end of day.

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My guess is we back trace tomorrow and close the gap, but the wedge is nearing its end so should see something big in next few days

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Well this guy doesn't know anything

OA1 made me 4k on JD, got to love it

I'm not concerned about the Yuan. The US isn't the most sound on fiscal policy, who am I kidding, we are a dumpster fire. But we are immeasurably more stable than anyone else on Earth.

All these countries signing up to trade in Yuan have never experienced their level of devaluation. When they do, they will come back to papa. If our printing press is the Dallas Morning News, the Chinese printing press is the damn New York Times.

Not worried because China is not stable.

$30,000 Millionaire said:

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I don't think the Yuan is going to be the default currency. Those guys just aren't trustworthy.

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I used to think this, but then realized the information we receive about China's doom and gloom economy is vastly overstated. The US govt and our banking system are invested in making sure the US populace does not loose faith in our currency, and they will use any means of actual disinformation to keep things afloat. I'm at a point where I don't trust anything anymore, and that's sad.

All these countries would not be joining BRICS if China's currency was truly that unstable.

No country that oppresses their population deserves to be a reserve currency.

Don't lose faith guys.