Not content to wait for China's oil←→yuan futures contracts and bullion exchange services to start, various countries including Russia and Iran have jumped the U$D gun to sell their oil for yuan regardless …… TL;DR quotes below; ;; ; ;;;; ;; ;;; ; ; ;;; ;; Gold Will Soar… As China Kneecaps the Dollar And if it does Russia stands to benefit immensely http://russia-insider.com/en/gold-will-soar-china-kneecaps-dollar/ri21977 … Dr Ron Paul paraphrased: ‘we’ll know the dollar-centric monetary system is on its way out when countries start trading oil for gold instead of dollars.’ … “I spoke with officials at the Shanghai International Energy Exchange. They told me they plan to go live with it before the end of the year, or shortly thereafter.” … “In October 2000, Saddam started to sell Iraqi oil in euro only. He said Iraq would no longer accept dollars for oil because it did not want to deal in the “currency of the enemy.” A little over two years later, the US invaded Iraq. After Baghdad fell to US forces, all Iraqi oil sales were switched back to dollars.” … “The dollar is not just a currency. It’s a political weapon… and Washington is not shy about using it.” … “The Saudis are clearly setting up the option to dump the petrodollar. If the Saudis start to sell oil to China in yuan, it would kill the petrodollar overnight. Short of that, things still look very dire for the petrodollar.” … “The increased demand for gold from China’s “golden alternative” to the petrodollar is going to shock the gold market. And this demand shock clearly hasn’t been priced into the gold market yet.” …