The Petroyuan Was Born This Week. Here's What It Means.

03/31/201819 Comments

It has been promised for 25 years. Its coming has been heralded as a world-changing event. It has launched a thousand headlines in the last few months. And it happened this week. But if you blinked you would have missed it.

What am I talking about? Why, the launch of a Chinese yuan-denominated oil futures contracts on the Shanghai International Energy Exchange, of course! Or, in more headline-appropriate terms: The Birth of the Petroyuan!

Considering this event has been in the works for literally a quarter of a century (since the Chinese tried and failed to launch such a contract in 1993), the occasion came and went with remarkably little fanfare, even from the ChiCom mouthpiece press. Take Xinhua's decidedly low-key announcement: "China launches crude oil futures trading." No celebration of the glorious arrival of the dawn of a new monetary order. No bold proclamations about the impending dominance of the Chinese benchmark in global oil sales. Not even a screed about how the fearless leader, President For Life Xi, is bravely steering the country toward a petroyuan utopia. Just:

China on Monday launched trading of the yuan-denominated crude oil futures contracts at the Shanghai International Energy Exchange, which is the first futures listed on China's mainland to overseas investors.

The listed futures for trading are contracts to be delivered from September this year to March 2019. The benchmark prices of 15 contracts were set at 416 yuan (65.8 U.S. dollars), 388 yuan and 375 yuan per barrel, varied by delivery dates.

Li Qiang, Shanghai's Party chief, and Liu Shiyu, chairman of China Securities Regulatory Commission, together rang the gong to open the trading session.

Oh, and the name of this earth-shaking, world-changing futures contract? "SC1809." It's like they're going out of their way to make this whole story as unremarkable as possible.

But still, here it is. The event that everyone's been waiting for. A first, tentative step toward the petroyuan and one potential way for the international community to step away from the petrodollar. So what does it mean?

Find out what this new yuan-denominated oil futures contract means for the future of the global monetary system (and what it doesn't mean) in this week's Corbett Report Subscriber newsletter.

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  1. weilunion says:

    What it will mean is more war as the US attempts to shore up the quadrillions of dollars floating around.

    And this shoring up will mean war on Venezuela as Maduro begins to strike deals with India for the petrolrupee

  2. alan.k says:

    The baton will be passed from the petrodollar to the petroyuan – from the magicdollar to the magicyuan – from one unit-of-account-that-stores-value to another unit-of-account-that-stores-value.
    I dream of a time when magic-units-of-account are abandoned in favor of real-units-of-account that do nothing but measure value as accurately and honestly as possible.
    Is that just a foolish pipe dream?
    If so, then I see nothing good to expect from continued gambling on essential real resources for private profit.
    Homo sapiens? Wherefore art thou?

  3. hammy says:

    Just found on my doorstep… A investment packet complete with a bumper sticker, 2 DVDs, and 10 cards to hand out that state, “JESUS LOVES YOU,” on one side and bible quotations on the other including John 3:16, Romans 3:23 Romans 10:9 and John 14:6… The cover of the folder has the Israeli and American flags and Genesis 12:2-3 and Genesis 49:1-28… I’m not kidding… There are convoluted messages from John Brown, Founder, and Victor G Carrillo, CEO, Dustin L Guinn (exec vice chairman)Pictures and a blurb of each of the management team, a map of the Golan Heights that is labled “Zion Drill Site…” Thoughtfully included in the back envelope is a Driect Stock Purchase Plan (DSPP) Enrollment form to fill out in ink… Here’s the press release for the shareholder’s meeting in June…

    • hammy says:

      Pastor John Hagee, in a letter to Chairman & Founder, John Brown:
      “I will continue to pray earnestly for the success and unlimited prosperity of Zion Oil in Israel. A major oil development in Israel would create a geopolitical earthquake. I believe you have been called to the kingdom, ‘For such a time as this.'”

    • HomeRemedySupply says:

      That is hilarious.
      Reminds me of my Texas inbred cousin’s cousin, Joe Bob Briggs, and what he has to say about “Religious Zionist Oil Marketing” or whatever…

      (By the way, Joe Bob has visited the comment section here at Corbett Report before.)

  4. wingsuitfreak says:

    Sorry, all I could think of was that those markets are going to make Texas oil and gas hawkers look like angels when they get down with that little market! Now it’s off to bed. That’s a scary article, petrodollar hasn’t been a peacenik if you ask me. JimBob from fluorida who never has an opinion anyone likes hearing.

  5. joseph says:


    I like China Uncensored’s term for Xi, Presitator For Life.

  6. HomeRemedySupply says:

    Holy Cow!
    I often follow oil, but this was news to me.

    But historians of a future era may just be recording March 26, 2018 as the day the change started. — James Corbett

  7. HomeRemedySupply says:

    From Corbett’s Recommended Viewing, I am watching the 12 minute clip The Wrongful Killing of Martin Luther King Jr. by “Unnamed Government Officials”. This is good!
    Some great photos and video clips.

    At one time, “Reprehensor”, a past moderator for 911blogger during the wild days of 9/11 Truth, had a string of YouTube videos which were the actual footage from the 1999 trial.
    It was fascinating to watch.
    I can’t find them now.

  8. Corbett says:

    Extremely important breaking news on this topic:

    Looks like things might be progressing even faster than I believed.

    • HomeRemedySupply says:

      EXCERPT from Reuters
      Unipec, trading arm of Asia’s largest refiner Sinopec (600028.SS), has already inked a first deal to import Middle East crude priced against the newly-launched Shanghai crude futures contract.

      (about the first day of the futures contract trading)
      …Participation in them took more than 400 Chinese and foreign customers. They include companies such as Unipec Asia Company Limited, Glencore Singapore Pte Ltd, North Petroleum International Company Limited and many others. In the first hours concluded more than 200 transactions.
      Deliveries will be made from the ports of Oman, Qatar, Yemen, Iraq (Basra) and Eastern China. Ports of loading can be further adjusted to reflect market conditions. Supply of oil will remain in the seven storage facilities located in the coastal regions of the Chinese provinces of Zhejiang, Shandong, Guangdong, Liaoning, and also in the deep-sea port of Shanghai….

      In relation to the oil markets, U.S. import/export of oil products…
      …On the current trajectory, net imports could indeed turn into net exports in 2020.

  9. generalbottlewasher says:

    Homey those links are pretty fun. Laugh out load! For something a little more weird check out

    I wish James could comment on the ex-pat Ben Fulford and the White Dragons .Is Fulford for real? What end of the pool does someone with his credentials swim in ? This is one to scratch my head over. And the suicide of the Arab bad boy in ,Atlanta?
    As for Zion Oil, Tulsa is no stranger to Oil and Gas perspecticies, much like Homeys cousin’s stuff on charlatans of God. However when you think you have seen a lot, something like this comes along. Reminds me of the 1982 pump and dump in western Oklahoma gas deals that sent a dozen or so to minimum security prisons across the state not to mention a hundred people to the poor house. They (Brown) sent not one but two boxes as ‘ hammy ‘described above. Oh Jesus save me!

    • generalbottlewasher says:

      P.S. along the lines of James letter above , same-old-game, is that why. Blue angle Professor
      Roth…Glenco dumped so much into contracts on opening day? Meet the new boss same as the old boss. And finally for those who wonder why I am committing on this site. ” its only the giving that makes you what you are”
      poetry by Ian Anderson 1969.

  10. yuwen says:

    NWO is happy to let USA fall now that it is more of an obstacle to their plans than any other nation because of the US constitution. They are like rats they just run to where the cheese is.

  11. ivan says:


    Benjamin Fulford posted last week “The start today (March 26, 2018) of oil futures trading in gold-backed Chinese yuan is being widely seen as a Chinese victory in the ongoing financial war for control of the planet Earth. It is also a good time to remind China that the world will NEVER swap Khazarian mafia control for Chinese mafia control.” I personally hope this is the beginning of the global financial reset and the end of the Petrodollar. The Economist predicted on the cover of the 1988 issue the end of the dollar and the beginning of a new gold backed currency called the Phoenix.

    What is your opinion on the posts from Benjamin Fulford? I am also a subscriber to his weekly post, below is a copy of this weeks post from Since he also lives in Japan, it would be great if you could interview him.

    “Cabalists plot anti-Trump counterattack in Tokyo
    By Benjamin Fulford Weekly Reports 27 Comments
    The Japanese Khazarian mafia slave government, desperate to survive, is plotting the removal of U.S. troops from Japan as well as the end of the regime of U.S. President Donald Trump, according to Japanese right-wing sources close to the emperor. That is why former U.S. President Barack Obama and former Thai Prime Minister Thaksin Shinawatra were here last week, the sources say. The Japanese regime is working with the Khazarian mafia slave regimes of Theresa May in the UK, Emmanuel Macron of France, and Angela Merkel of Germany in this effort against the Trump regime, the sources say. The French branch of the Rothschild family is deeply involved in these moves, CIA sources in Asia confirm.

    The Japanese regime has joined these anti-Trump efforts because it has become alarmed by a series of recent public rebukes by the Trump military government. The biggest is that Japan is being kept totally out of the loop about moves towards peace in the Korean Peninsula. Japan’s government is also upset that, unlike other U.S. allies, it was not given an exemption to U.S. tariffs on steel and aluminum, the sources say. That is why the Japanese government is making unprecedented (for a usually servile, boot-licking regime) public rebukes of the U.S. moves.

    The Abe government has been actively preparing for war with China using North Korea as a pretext, and was totally surprised by the move towards peace, the sources explain. While the warmongering Abe regime trembles, U.S., Chinese and Russian Presidents “Donald Trump, Xi Jinping, and Vladimir Putin may win the Nobel Peace Prize for a Korean peace treaty and denuclearization,” Pentagon sources say.

    By contrast, members of the Abe regime fear being charged with war crimes over their involvement in the March 11, 2011 tsunami and nuclear terror attack on Japan. This fear has arisen because of the imminent arrest of satan-worshipping Israeli Prime Minister Benyamin Netanyahu, who was one of the chief architects of the Fukushima terror operation, they say. This attack was orchestrated by the Rothschild family in an aborted attempt to evacuate 40 million Japanese to North Korea, members of the Rothschild family confirm. The plan was to set up new Rothschild Asian headquarters in North Korea, according to these sources.

    Now this is all unraveling, and a peace deal in the Korean Peninsula is likely to lead to all of these murderous plans being made public, say CIA, Pentagon, and Japanese right-wing sources. That is why there is now great fear and loathing amongst the perpetrators of this mass murder, they say.

    A CIA source in Thailand had the following to say about Thaksin Shinawatra: “He is looking for a place to find refuge. Dubai is at the top of his list. Once the Japanese people know what he has done to them, he will have to run in order to avoid being taken out. His time is almost up.”

    Also, last week a member of the NSA personally visited this writer to warn him they had intercepted communications showing Japanese Finance Minister Taro Aso is actively trying to have me murdered. Aso is upset at being exposed as the top Rothschild agent in Japan, the NSA official explained. Aso is also angry that his regime’s construction of a biological warfare factory disguised as a veterinary school has been exposed by this writer, he said.

    The other fatal error made by the Abe regime was to sell substandard steel to the U.S. military in a deliberate act of sabotage, Pentagon sources say. This is something the Abe government will pay a high price for, the sources promise.

    Speaking about steel, a U.S. military intelligence source sent this writer the following information:

    “The Chinese are reacting to Pentagon claims of substandard steel with great composure. Senior Chinese officials point out that this was a known problem in 2015 and wiped out by 2017, the Chinese leadership recognizing that their reputation for quality was a priceless national asset. Interestingly, in the same conversation it was mentioned that China kept many samples of the waste from 9/11, and tested for…
    nuclear, thermite, and energy radiation, among other relevant forensic factors. If and when President Donald Trump is ready to support an independent investigation of 9/11, the Chinese appear to have relevant evidence-quality information to share.”

    This is highly relevant now, because last week a U.S. judge rejected a Saudi Arabian government attempt to dismiss lawsuits against it concerning the 9/11 attacks.

    Pentagon sources have previously explained that the tactic of suing Saudi Arabia was meant to expose the real perpetrators of these attacks—the Khazarian mafia. The wheels of justice grind slowly, but they grind to dust and are steadily closing in on these murderers.

    On this front, Pentagon sources noted the total number of sealed indictments against Khazarian satanic mafiosi is approaching 25,000 and “those rejected by Gitmo may be found dead like Peter Munk.”

    Peter Munk was a Canadian mining magnate whose company, “Barrick Gold was used to move a very large quantity of off-ledger Au. That was the main purpose of the company,” according to CIA sources in Asia. Munk has been charged in a Nevada court with criminal involvement in the 9/11 attacks, which involved laundering stolen gold. Other people charged were “Richard Cheney, John Brennan, John Ashcroft, Robert Mueller, George W. Bush, George H.W. Bush, Kevin Spacey, Barack Obama, John McCain, James Baker, Edgar Bronfman Sr., Paul Wolfowitz, Richard Perle, Condoleeza Rice, George Soros, John Kerry, Bandar Bin Sultan, David Rockefeller, Brent Snowcroft, Zbigniew Brzezinski, and Hillary Rodham Clinton.”

    The other huge move against the Khazarian mafia is the ongoing attack on their Internet mind-control apparatus. “After the Facebook scandal, Google, Twitter, Amazon, Tesla, and Microsoft are also being targeted,” Pentagon sources say. As a collective, this group of companies is the visible part of what the Gnostic Illuminati calls a rogue artificial intelligence that is threatening humanity. Transforming these companies from brainwashing hubs into public utilities is a must if humanity is to be freed.

    Speaking about rogue AI’s, today we reluctantly have to say that a growing body of evidence shows that Neil Keenan, who played a key role in exposing the cabal’s hijacking of the financial system, has been murdered, and his murderers have hijacked his identity for the past several years.

    Neil Keenan was briefly reported to have been murdered on his own website,, before that report was taken down. Following that, this reporter had a Skype conversation with a person claiming to be Neil Keenan but who failed to answer questions the real man would have known, such as where did I once send him money. Also, Keenan suddenly stopped exposing cabal machinations and instead became a salesman for “healing computers.”

    CIA sources point out that “around the end of November 2014, Keenan posted several videos of his opening one of the bunkers here in Indonesia at an undisclosed location…the small box that Keenan and his assistant eventually opened contained COPPER ingots. They were not gold. Gold does not tarnish or become oxidized. Copper does. This was a falsehood from the onset.” The source says he checked with Indonesian Immigration and they have no records of Keenan visiting the country at that time.

    Keenan also talks about an attempted 15-quadrillion-dollar heist from the Dragon Family. Here is an excerpt from his blog posting on June 7, 2014:

    “Most recently the Vatican, in collaboration with an entrusted Elder, The Sultan of Sulu, a guardian/holder of The Dragon Family Global Account assets, attempted to steal fifteen (15) quadrillion dollars from the Dragon Family. Their attempt was thwarted.” This was “pure fantasy on Keenan’s part,” the source says.

    We have also confirmed with the government of Monaco that there was never any meeting of world finance ministers in Monaco and that no such agreement as the “Monaco Accords,” widely reported by Keenan, ever existed.

    The last person who we can confirm actually met with Neil Keenan met him more than 10 years ago. Since then, despite considerable efforts on our part, contacting various intelligence agencies around the world, nobody can confirm he is still alive. Repeated attempts to arrange a meeting with Keenan have also failed. We would be happy to be proven wrong. This is important, because if we can trace down and capture the people who killed and then began impersonating Keenan, then we have a real chance at ending Khazarian cabal financial control.

    Also, on this front, we can report that a meeting took place last week between a representative of an Asian Elder and the White Dragon Society. The WDS proposed to this representative that the Asian Elders appoint a director to the White Dragon Foundation with veto power over any use of funds by the Foundation. After this, historical bonds can be deposited with the Foundation and the WDS will use its influence to make sure the Khazarian mafiosi who sold these bonds in exchange for gold are forced to pay up. The money will be used to end poverty, stop environmental destruction, and finance a swords-to-plowshares transformation of the military-industrial complex.

    In any case, Pentagon sources report that “mopping-up operations are in progress, with more cabal bases destroyed and portals shut down.”

    We cannot personally confirm space-war information of this sort. However, we can confirm that removing visible cabal leaders like Benyamin Netanyahu is important. Also, Russian FSB sources say they have traced the root of the problem on earth to Zurich, Switzerland and that “it is somehow connected to the CERN Project.””

    • I Be William Munney says:

      I like the part about the WDS saving us. That was a real nice touch. I don’t doubt the mafia influences at all. I just doubt anyone has a greater interest in saving me than me. JimBob who don’t follow nobody. Including hisself.

  12. sissaly says:

    Yes, eventually, the US Dollar will be replaced as a reserve currency.

    There is a cycle to all in the cosmos, including a “reserve currency”.

    There is no one in charge guiding the world along a preset determination.

    There are individuals and groups who manipulate the environment for themselves, their friends and families benefit, just like you, only they will lie cheat and steal if you let them.

    An international world finance trader, Martin Armstrong, says about a petrodollar, yuandollar…

    No, it is total nonsense and you are correct – it is designed to rob people of their life savings. There is no “dollar hegemony” for that assumes that the USA is somehow imposing the dollar upon the entire world by sheer will. History shows that the USA has pursued a policy of lowering the value of the dollar for trade purposes. Even the Plaza Accord in 1985 was a deliberate attempt to lower the dollar and it was at that meeting when the USA argued that Europe needed to create a single currency to compete with the dollar.

    There is no competition with the dollar and that is the problem. The Fed wanted to raise interest rates back in 2014 but was lobbied by everyone not to. The Fed has lost control of the local economy because the domestic policy has been suppressed by international policy. The IMF, Europe, and emerging markets all pleaded with the Fed NOT to raise interest rates regardless of the domestic policy objectives.

    This is complete sophistry and the arguments of people who really have no clue about how the global economy functions. I have been in meetings in Washington where I have been asked how to PREVENT the dollar from being the reserve currency. The answer is simple. There is no law that the USA can pass to bring about such a result.

    It is coming. That will be the Monetary Crisis. But every such crisis has resulted in the dollar rising. That will bring the new monetary system. Not a lower dollar.

    • I Shot Santa says:

      That was a pretty pure shot of sanity you just put up. Almost like the world’s still just spinning round and round. JimBob

  13. john.o says:

    Thanks for the clarity, James.

    And for “rigged-i-est of rigged” which is coinage in the one currency I understand: great writing!

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