There were many headlines and tweets in the last two weeks about the US dollar failing and Yuan replacing it. I want to take a look at some of those headlines, read the corresponding articles and figure out what is going on with them. Let’s get to it!
It all started with headlines about Saudi Arabia:
Ok now lets find the source of this tweet, there seems to be a link in the tweet below it. Ok an article by a Joshua Ramos.
The article is pretty vague and doesn’t give details about the “Trade Alliance” it says “‘Saudi Arabia’s cabinet approved to join the Shanghai Cooperation Organization’
After that the article says:
“The decision to join the SCO reported, ‘falls short of full membership,’ but continues expanding Riyadh’s interest toward the East”
Well WTF, that’s far from what the tweet suggested…
What is the SCO?
The Shanghai Cooperation Organization (SCO) is a political, economic, and military alliance of eight member states, namely China, Russia, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, India, and Pakistan.
Take that “military alliance” part of it very lightly, this is just an organization where those guys go meet and talk. Yes this is what Saudi Arabia tried to join but is not a full member.
Ok let’s move on:
Again, it’s another article by our guy Joshua Ramos… I guess he’s the head clickbait officer at Watcher Guru.
So this article on Watcher.guru is very very funny. They position this as France buying gas from China in yuan or vice versa but what’s happening is actually not clear. This seems like China buying Saudi gas with a French company middle manning and they settled it in Yuan. Let’s read from Reuters then Watcher.gugu
Reuters: BEIJING, March 28 (Reuters) - Chinese national oil company CNOOC 0883.HK, 600938.SS and France's TotalEnergies TTEF.PA have completed China's first yuan-settled LNG trade through the Shanghai Petroleum and Natural Gas Exchange.
Watcher.guru: In what is a landmark development, China and France have completed an LNG gas trade using the Chinese yuan, thus ending the reliance on the US dollar for energy trades.
Do you see how deceiving this is? There’s not even enough information on this transaction to even comment on it like that. Even I could be wrong about it.
Let’s continue:
Do we even need to look at this one? Russia is being sanctioned by the US… This is barely even news worthy.
This is the most egregious one, it’s a headline from the Wall Street Journal.
When you take a look at the article it clearly states Japan got authorization from the US to make the purchase. So they’re by no means breaking ties with US and allies as the article’s title suggests. Japan is also supporting Ukraine in their war against Russia.
Let’s Continue… This one is wild too:
Ok, let’s click on the article…
Ohhhh, our guy Joshua Ramos again! Chief Clickbait Officer, he put PPP in parentheses on the article but not the tweet.
PPP is Purchasing Power Parity, it means how money can buy more or less in different countries due to differences in prices. Basically it means how cheap is the cost of living in your country. BRICS countries are cheaper to live in than G7 countries…
Yes, these headlines are getting so wild. “To become economically more powerful”. What the hell?
The source for this article was a guy’s tweet… Yes, some guy with 8k follower’s tweet:
Conclusion
After reading this you should understand that you’re living in clown universe and to never take headlines or “news” tweets at face value. You might think I’m picking on Watcher.guru and I’m not, their tweets are just some of the more popular ones with 1-2 million views. Always google the tweet to find the corresponding article and read it. Check for inconsistencies and track down their sources. Writers could just be trying to make a quick buck on ad revenue or they’re being paid by governments to run deceiving articles. They could also just be very bias, I wrote a guide on how to filter information efficiently here.
See you, space cowboy.
Space cowboy, nice