Zero Hedge: China’s yuan-denominated crude oil futures launched overnight in Shanghai with 62,500 contracts traded in aggregate, meaning over 62 million barrels of oil changed hands for a notional volume around 27 billion yuan (over $4 billion).
Opinion: Maybe this is why China is making nice over trade, Xi has bigger ideas.
In the first edition of Antichrist: The Search for Amalek I went way out on a limb projecting that China would make a move to dethrone the US dollar buy trading commodities in renminbi (yuan) by backing it’s currency with large gold reserves. My guess was correct but my timing was off. I thought it would happen under the Obama administration.
From the article:
The Slippery Slope to the Petroyuan Begins Here
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…
A death blow that began in 2015 hit again in 2017 when China became the world’s largest consumer of imported crude…
Now that China is the world’s leading consumer of oil, Beijing can exert some real leverage over Saudi Arabia to pay for crude in yuan. It’s suspected that this is what’s motivating Chinese officials to make a full-fledged effort to renegotiate their trade deal.”
Bible prophecy is silent regarding China in the wars of the last days with the exception of the final war. While China is not mentioned specifically it can be assumed that China will lead the 200 million man army – Kings of the East.
“Then the sixth angel poured out his bowl on the great river Euphrates, and its water was dried up, so that the way of the kings from the east might be prepared.” Revelation 16:12
China’s dictator for life has the same goal as despots before him and the one coming at the end of the age, the whole world under his control: economy, military and religion (Rev. 13:16).
We know from Scripture that Xi won’t be Antichrist, but will make a heck of a mess trying.