Crossing the Yuan Rubicon

Crossing the Yuan Rubicon
On today’s episode of Double Down, Max Keiser and Stacy Herbert talk to Alasdair Macleod of about the new oil futures contract which will settle in yuan.

As China launches a new oil futures contract settling in yuan, is this the end of the petrodollar? Alasdair Macleod of believes it very well could be the beginning of a perhaps long end to dollar hegemony. But if the petroyuan has, indeed, threatened the status of the dollar, will this trigger another Triffin event as was last seen in the late sixties and ending in the 1971 abandonment of the gold standard? If so, what sort of chaos can we expect this time? And, as China doesn't want the burden of having the exorbitant privilege of a reserve currency, what global monetary system will follow next? To learn more, tune into Double Down as we gild the nasty lily with Alasdair Macleod.

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