You know we can go off on a tangent for the topic of the thread...
They listed it yes, last week. It then went live this week. China is now selling oil, fully convertable to gold. So the Yuan is gold backed.
Which means as a country, why would I buy from someone who would manipulate the cost when I can buy it at a rate controlled by the price of gold.
The US is going to feel it. The ball just started rolling. And you brought up the middle east, but I know you know very well who controls that.
It's a pretty big deal, but the media of course isn't saying anything about it.
http://www.livetradingnews.com/china-has-launched-its-gold-backed-petroyuan-80242.html