China Moves to Destroy the US Dollar, Launches Gold-Backed Petroyuan

China Moves to Destroy the US Dollar, Launches Gold-Backed Petroyuan: In a massive move against the global dominance of the U.S. dollar, China’s highly anticipated Petro-Yuan has been launched in Shanghai. With China being the world’s largest consumer of oil, this new currency is an international game-changer that was a predicted move by China to directly compete—and subsequently devalue—the US dollar.