China’s New Gold-Backed Oil Benchmark to Deal Blow to U.S. Dollar

ISTOCK.COM/SELENSERGEN

 

New financial instrument gives oil-exporting nations their long-sought alternative to the petrodollar.

China will soon introduce a crude oil futures contract denominated in yuan and convertible into gold, the Nikkei Asian Review reported on September 1. Analysts say that since China is the world’s largest oil importer, the move could deal a major blow to the global influence of the United States dollar.

The contract would allow oil exporting nations such as Russia, Iran and Venezuela to conduct sales in yuan, instead of in U.S. dollars, and to then change the yuan into gold on both the Hong Kong and Shanghai exchanges. This would also allow these countries that often fall afoul of American foreign policy to circumvent dollar-based U.S. sanctions.

The Chinese government has been developing the gold-backed futures contract for years, and Oilprice.com reports that it is expected to launch this year. It will be China’s first commodities futures contract available to foreign entities, and analysts expect many oil-exporting nations and firms to find it appealing. Continue reading

The REAL Russia Scandal

MELISSA BARREIRO/TRUMPET

 

Is Vladimir Putin trying to strengthen the Trump presidency—or weaken it?

Claims that United States President Donald Trump secretly cooperated with Russia to steal the 2016 United States presidential election have been making headlines for over a year. New allegations seem to come out every week, but none of them are backed up by proof against the president.

WikiLeaks published 19,252 e-mails hacked from the accounts of seven key Democratic National Committee staff members on July 22, 2016. These staff members are chairwoman Debbie Wasserman Schultz, chief executive officer Amy Dacey, chief financial officer Brad Marshall, communications director Luis Miranda, press secretary Mark Paustenbach, broadcast media director Pablo Manriquez and finance director Jordan Kaplan.

The e-mails revealed that under Schultz’s leadership, key officials within the Democratic Party worked to sabotage the presidential campaign of Sen. Bernie Sanders so Hillary Clinton would win the party nomination. Many Sanders supporters were outraged. Schultz apologized and resigned in disgrace. Continue reading

Over 20 Years of Warnings

From the Trumpet’s earliest editions, our editor in chief has drawn attention to specific prophetic warnings about race relations in America.

As far back as June 1992, in the wake of the Los Angeles race riots, Gerald Flurry wrote in the Trumpet:

As the economy grows worse, the rioters are going to burn more and more because God’s wrath is upon us! And God is far more wrathful toward the white people in Israel than He is with the black people. The problems are going to intensify until our people repent [of their many sins]! …

The Los Angeles rioting is just a type of what is going to happen to the whole nation! It is a stark prophecy of our future! The rioting and burning is the main thrust of the ‘pestilence’ mentioned in Ezekiel 5. [The word pestilence can be defined as a plague of violence or burning. For more information, request our free book on Ezekiel.] And this rioting is going to spread to other Israelite nations—unless these peoples repent! God is going to get our attention, one way or another. Continue reading