Nigeria, one of the world’s largest oil producers, has just switched from the Dollar to the Yuan to pay for oil:
Abuja will use the Chinese currency for all economic transactions. After Angola and the “petroyuan”, even the biggest African economy chooses China as its main commercial partner. It is estimated that 22% of Africa’s debt is contracted with China.
Abuja (AsiaNews / Agencies) – Nigeria signed an agreement with ICBC, the most important Chinese bank in March, with the aim of adopting the yuan as a commercial currency. The African country has made a currency exchange worth $ 2.5 billion in yuan. The goal is to facilitate trade between the two countries. Nigeria’s choice indicates an already established trend in Africa: at the end of May, fourteen African countries and seventeen central banks gathered in Zimbabwe to adopt the yuan as a currency reserve.
The Chinese currency is the seventh currency used in trade: this is 2% of world transactions. Nigeria has abandoned the dollar following the fall in the price of crude in 2014. On that occasion the African country had been forced to sell its dollars on the interbank market to increase the liquidity of the Nigerian naira (the national currency).
On the other hand, the introduction of the yuan is a useful move for Nigeria also to repay its debt with China. It is estimated that 22% of Africa’s public debt is contracted with Beijing. By adopting the Chinese currency, the risks deriving from the exchange rate and the fluctuation of monetary values are eliminated.
The agreement with Nigeria comes after two years of negotiations. In this way the yuan will become the second commercial currency of Nigeria, among the first economies of Africa. The pact comes after another important agreement signed by China with Angola. The latter is China’s first partner for oil imports. In 2015 the two countries signed an agreement in Shanghai for which China can pay Angolan oil, the so-called “petroyuan”, in yuan. China is the world’s leading importer of crude oil, with nine million barrels a day. (source)
Expect to see a lot more terrorist attacks in Nigeria because in the eyes of the US government, this is a threat to the petrodollar.
The world economy runs on oil. This is true for all countries. He who controls the oil supply has the ability to control the destiny of nations. *
There are two ways to control it:
1) By physical control over the oil itself- industrial control
2) By material control over the means through which the trade in oil takes place- financial control
Physical control varies by region. Some areas have oil and some don’t. Therefore, if one does not have a lot of oil, one must find ways to get access to said regions where the oil is located. This is why the Americans have been heavily involved in the Middle East, and especially why the major oil company for Saudi Arabia is called ARAMCO- the Arabian American Oil Company- because the Americans need said oil to run their empire. Russia enters into the Middle East, but they have large reserves already in Siberia and can draw off of those.
Material control over the finances is an even bigger matter, because while physical access can be limited, if one can control the currency used to purchase oil, one can manipulate another’s economy. This is the absolute situation of the petrol industry today, for with most countries, the trade in petroleum is done in dollars regardless of country. This means that if China wants to buy oil from Venezuela, China must first convert Yuan (the Chinese currency) to Dollars and then use said Dollars to buy oil from Venezuela, after which Venezuela must convert the Dollars back into Bolivars (the Venezuelan currency) for their nation.
This “petrodollar” as it is called directs the economies of nations and by extension, political control over them by being able to leveralge favorable economic conditions to the USA and, whether favorable or not to another nations, making them abide by such conditions.
Russia and China both have been struggling to “free” themselves from the petrodollar because, just like the Americans, they also have national aspirations at enlarging their own influence in the world. Such “currency wars” are a precursor to economic and trade wars, which historically speaking if left unresolved can turn into outright military conflicts with armies.
Nigeria is, comparatively speaking, one of the wealthier countries in Africa. It has a large population that continues to grow and is becoming a power in its region. They have many natural resources including oil and produce 2.7 percent of the world’s oil and of which almost 40% of their economy is comprised of exporting petroleum and petroleum-based goods. 34% of their exports go to India, followed by the US at 9% and then Spain, France, South Africa, and Canada.
China has been an ally of Nigeria since the 1970s and is considered to be one of the most “pro-China” nations in the world. China continues to develop in Nigeria, focusing particularly on oil interests.
This is, from the perspective of the USA, a clear threat. China has been moving around Africa for at least two decades attempting to build a resource base, as well as the USA.
As we have mentioned before, the common way the USA and her allies engage in covert warfare against Russia and China is through the support of terrorism (make no mistake, Russia and China use the same, but they have shown themselves to have far fewer results when applying such tactics).
Muslims have been used since the inception of Islam by governments because as Islamic theology darkens the soul and deadens the mind, it makes a man satisfied to obey blind commands without any sense of reason which then makes him susceptible to manipulation by another. The US Government is aware of this as were many others, and their actions in this sense are no different. But like with every government of the past, the Muslims eventually realize the manipulation and rise up, overthrowing their enslavers and even conquering them sometimes. It is the story of many Islamic expansions and even the fall of nations.
It has been known for years that ISIS was a creation of the CIA. There is evidence which likewise suggests that Boko Haram is a similar project, which given the US involvement in perpetuating National Socialism as a “stay behind” operation against Russian influence in Europe and Islamic terrorism in the Middle East which precipitated the government-funded population “migrations” to Germany and parts of Western Europe, and that Nigeria is a strong ally of China and by extension Russia, suggests that Boko Haram is an “African” project under or otherwise connected to the umbrella of Operation Gladio.
There is no terrorism just yet- only increases in terrorism. As far as policy is concerned for the USA, it does not matter how many Christians suffer or die, or if lives are destroyed because the philosophy itself is eugenic in nature, as it views people as expendable pawns whose usefulness or right to live or die is measured by the profit they can potentially and tangibly extract for those in industry and finance that through governments are the major beneficiaries of such conflicts.
Remember the US war in Iraq. In a mere decade and a half, that conflict destroyed Christianity in Iraq, displaced millions of people, killed countless numbers more, and ruined a nation. All of it was done not because Saddam was “producing WMD’s with Yellow Cake Uranium”, but because of a US war against Russia and a desire to consolidate oil and rare earth minerals to fuel the US economy.
Nigerian people beware- expect conflict in the future- because this is about making preparations for a war with the Chinese, which is likewise tied to all of the events happening in Europe as well as the re-arming of Japan.