Australian Politics Forum - Ghana bypasses the us $ for their gold

Sprintcyclist

Gold Member

Offline

OzPolitic

Posts: 42548
Gender: male

Ghana bypasses the us $ for their gold
Oct 7^th, 2026 at 12:15am

What African Governments Refuse to Do to Ease the Suffering of Their Citizens
The truth is raw and simple: African governments are trapped in a system designed to keep them dependent. If they try to break free, the United States threatens sanctions. In practice, every African country is already under a form of American financial coercion, enforced through the IMF and the World Bank—institutions that serve Western interests, not African people.
But Ghana has chosen a different path. Ghana has put its people first.
JUST IN: Ghana Launches Cedi-to-Yuan Payment System for Imports from China, Reducing Reliance on the US Dollar
· Stanbic Bank Ghana is piloting a cedi-to-yuan payment system, with Ghana Commercial Bank developing a similar service.
· Payments are processed through China's Cross-Border Interbank Payment System (CIPS), enabling direct yuan payments from cedi accounts.
· This system reduces the need for US correspondent banks, cutting costs and processing times for China-related transactions.
Why This Matters
For decades, African nations have been forced to conduct trade in US dollars. That means every transaction passes through American banks, which can freeze, delay, or block payments at will. It is a chokehold disguised as convenience.
Ghana is now bypassing that chokehold. By paying China directly in yuan from cedi accounts, Ghana avoids US banks entirely. This lowers costs, speeds up trade, and reduces vulnerability to American pressure.
The Broader Battle
The United States and its allies in the IMF and World Bank do not want Africa to have independent financial channels. They want dependence. They want control. Any African government that tries to ease its people's suffering by seeking alternative payment systems is immediately threatened with sanctions.
But Ghana is showing that another way is possible. It is not asking permission. It is not waiting for Washington's approval. It is acting in its own national interest.
The Raw Conclusion
African governments that refuse to act are not powerless—they are complicit. The tools exist. The partners exist. The only thing missing is the courage to defy the West.
Ghana and the AES have found that courage.
The question is: who will follow?

Back to top

Modern Classic Right Wing

IP Logged

Hung Uncut Black Muslim Jew

Gold Member

Offline

Australian Politics

Posts: 1479
Gender: male

Re: Ghana bypasses the us $ for their gold
Reply #1 - Oct 7^th, 2026 at 1:45am

BHP has agreed to settle approximately 30% of its spot iron ore sales to China in Chinese yuan (RMB), marking a significant shift from the traditional US dollar pricing system.

This arrangement, which began in Q4 2025, involves China Mineral Resources Group (CMRG), the state-backed buyer, and covers an estimated 88.5 million tons of ore valued at around $10 billion annually. The deal was reached after CMRG suspended USD-denominated purchases in September 2025 to pressure miners into accepting yuan settlement and pricing benchmarks.

I suspect, with the approaching implosion of the US economy from her inability to service the interest on spiralling debt. Printing the currency until worthless works only for a very short time.

China, with her massive gold reserves, way above what most think, the ability to swap the yuan for physical gold, all of Australia's trade with China will be in yuan soon.

Back to top

Racist and Apartheid Zionism is a settler-colonial and ethnonationalist ideology, that privileges one ethnic group at the expense of all others.

Ban it in Australia

IP Logged

Sprintcyclist

Gold Member

Offline

OzPolitic

Posts: 42548
Gender: male

Re: Ghana bypasses the us $ for their gold
Reply #2 - Oct 7^th, 2026 at 4:39am

Hung Uncut Black Muslim Jew wrote on Oct 7^th, 2026 at 1:45am:

BHP has agreed to settle approximately 30% of its spot iron ore sales to China in Chinese yuan (RMB), marking a significant shift from the traditional US dollar pricing system.

This arrangement, which began in Q4 2025, involves China Mineral Resources Group (CMRG), the state-backed buyer, and covers an estimated 88.5 million tons of ore valued at around $10 billion annually. The deal was reached after CMRG suspended USD-denominated purchases in September 2025 to pressure miners into accepting yuan settlement and pricing benchmarks.

I suspect, with the approaching implosion of the US economy from her inability to service the interest on spiralling debt. Printing the currency until worthless works only for a very short time.

China, with her massive gold reserves, way above what most think, the ability to swap the yuan for physical gold, all of Australia's trade with China will be in yuan soon.

other countries will do the same.
China will make no big announcements.
the us$ is rapidly losing it's tyrannical grip

Back to top

Modern Classic Right Wing

IP Logged

freediver Gold Member Online www.ozpolitic.com Posts: 53528 At my desk.	Re: Ghana bypasses the us $ for their gold Reply #3 - Oct 7^th, 2026 at 5:06pm African shitholes are shitholes because all they do it crap on their own plate. You don't need to look to the US for someone to blame. They have been selling each other into slavery for thousands of years.
Back to top	People who can't distinguish between etymology and entomology bug me in ways I cannot put into words. IP Logged

Leroy

Gold Member

Offline

Australian Politics

Posts: 5378
Gender: male

Re: Ghana bypasses the us $ for their gold
Reply #4 - Oct 7^th, 2026 at 6:41pm

Sprintcyclist wrote on Oct 7^th, 2026 at 12:15am:

What African Governments Refuse to Do to Ease the Suffering of Their Citizens
The truth is raw and simple: African governments are trapped in a system designed to keep them dependent. If they try to break free, the United States threatens sanctions. In practice, every African country is already under a form of American financial coercion, enforced through the IMF and the World Bank—institutions that serve Western interests, not African people.
But Ghana has chosen a different path. Ghana has put its people first.
JUST IN: Ghana Launches Cedi-to-Yuan Payment System for Imports from China, Reducing Reliance on the US Dollar
· Stanbic Bank Ghana is piloting a cedi-to-yuan payment system, with Ghana Commercial Bank developing a similar service.
· Payments are processed through China's Cross-Border Interbank Payment System (CIPS), enabling direct yuan payments from cedi accounts.
· This system reduces the need for US correspondent banks, cutting costs and processing times for China-related transactions.
Why This Matters
For decades, African nations have been forced to conduct trade in US dollars. That means every transaction passes through American banks, which can freeze, delay, or block payments at will. It is a chokehold disguised as convenience.
Ghana is now bypassing that chokehold. By paying China directly in yuan from cedi accounts, Ghana avoids US banks entirely. This lowers costs, speeds up trade, and reduces vulnerability to American pressure.
The Broader Battle
The United States and its allies in the IMF and World Bank do not want Africa to have independent financial channels. They want dependence. They want control. Any African government that tries to ease its people's suffering by seeking alternative payment systems is immediately threatened with sanctions.
But Ghana is showing that another way is possible. It is not asking permission. It is not waiting for Washington's approval. It is acting in its own national interest.
The Raw Conclusion
African governments that refuse to act are not powerless—they are complicit. The tools exist. The partners exist. The only thing missing is the courage to defy the West.
Ghana and the AES have found that courage.
The question is: who will follow?

Great news Sprint, China and African countries can now manufacture products without worring about the welfare of the workers. Children will find it very easy to find jobs.

Back to top

Trump derangement syndrome
Fareed Zakaria defined the term as "hatred of President Trump so intense that it impairs people's judgment"

IP Logged

freediver Gold Member Online www.ozpolitic.com Posts: 53528 At my desk.	Re: Ghana bypasses the us $ for their gold Reply #5 - Oct 9^th, 2026 at 9:56am Converting one currency directly to another without converting to US$ first is not news.
Back to top	People who can't distinguish between etymology and entomology bug me in ways I cannot put into words. IP Logged

Frank Gold Member Online Australian Politics Posts: 61494 Gender:	Re: Ghana bypasses the us $ for their gold Reply #6 - Oct 9^th, 2026 at 10:14am freediver wrote on Oct 7^th, 2026 at 5:06pm: African shitholes are shitholes because all they do it crap on their own plate. You don't need to look to the US for someone to blame. They have been selling each other into slavery for thousands of years. https://x.com/LunarCitizens/status/2107794579621806385
Back to top	Estragon: I can’t go on like this. Vladimir: That’s what you think. IP Logged