Since the start of September Venezuela have officially started using Yuan to sell their huge oil reserves, according to their accounts.
They went through a brief spell of using the Euro after the US sanctioned Maduro’s government, but as it became increasingly likely that the European Union will adopt similar sanctions against the collapsing Socialist state, they instead switched to the currency of their Chinese allies.
‘This format is the result of the announcement made on September 7th by the President [Nicolas Maduro]… that Venezuela will implement new strategies to free the country from the tyranny of the dollar’, the Venezuelan Oil Ministry said in a statement.
Cast your mind back to the last individual who dared to disrupt the petrodollar hegemony: Bashar Al-Assad.
He forged closer ties to Iran and therefore threatened the US puppet-state Saudi Arabia’s stranglehold over Middle-Eastern energy resources.
Needless to say, his position as Syrian leader became very uncomfortable, very quickly, as the US armed thousands of Jihadists in order to topple the unruly leader who threatened their neatly-stacked formation of Middle-Eastern pawns. Chaos inevitably ensued.
The undeniably evil Assad retaliated with acts of unconscionable violence against his own citizens who tried to use the US soft-invasion in order to oust the dictator.
Now the confused, increasingly unpalatable conflict nears its seventh year, with no end in sight. American intervention in the region has began to border on farcical; recently they have even been forced to admit that Pentagon-trained militias have been fighting CIA-trained militias. I doubt that they will have an easy time explaining to the 12 million either internally-displaced or foreign-resident Syrian refugees that the destruction of their nation was collateral damage to a US military-intelligence civil war taking place 6000 miles away from Washington DC.
But the feelings of Syrian civilians never factored into proceedings. And neither will the feelings of Venezuelans when the American war machine rolls-in.
When the Venezuelan people began to starve, few Americans took notice. When the country began to descend into bedlam, other than some minor press coverage, nobody really cared. But now that the almighty dollar’s position as the world’s reserve currency is being threatened, the US will surely swoop-in to defend its interests, and they will do it under the guise of soothing the political discord which they ignored for so long.
Let’s hope that the inevitable Venezuelan conflict – whether it involves drone bombs, CIA-trained militias, or just simple exercises in soft-power – will be resolved in less than seven long, blood-drenched years like the Syrian conflict. But I wouldn’t put money on it.
Hopefully, at the very least, the Pentagon and the CIA can at least fight on the same goddamn side.