Breaking: IRAN MAY ALLOW OIL TANKERS TO PASS THROUGH THE STRAIT OF HORMUZ IF THE OIL IS TRADED IN CHINESE ¥ YUAN INSTEAD OF US $ DOLLARS.


The petrodollar (oil priced and settled exclusively in USD since the 1970s Nixon-Kissinger deal) has been the single biggest structural driver of dollar demand worldwide. Forcing yuan settlement at this chokepoint is one of the most explicit attacks on that system we've seen.
Sanctioned countries already use Bitcoin and crypto heavily to bypass SWIFT and USD restrictions. A ¥ Yuan oil pivot makes non $ dollar payment systems mainstream.
Still US Dollar Index ($DXY) keeps pumping - what's going on in this market?
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