Petrodollar deal with Saudi Arabia ends

[Black Noir]

Tomorrow June 9 and it's not getting renewed.

[xDDD]

Wonder what the ramifications of this will be

[𝘈nethe ♡]

and i thought just becoming an adult was already bad enough

the hell is this now coming for the future

[secuda]

Should have ended long time ago.

[craigsters]

I thought the Saudi's made a big deal with China earlier on this year?

[Uncle Sam]

Originally posted by craigsters:

I thought the Saudi's made a big deal with China earlier on this year?

Technically yes, it was about exchanging Oil in Gold or for Riyal / Yuan aka local currencies instead of Dollar / Euro / Pound / Yen, etc. If i'm not mistaken, has been a while since i've read that news.

[Ganger]

We know 20% of oil is now traded in other currencies, used to be 100% US dollars. This will only devalue the dollar even more and bring in more inflation for american people who are already struggling.

Weaponising the US dollar to fight russia was one strategic blunder the american's could of done. Because other countries are now looking at this and saying, if america can do this to russia, what hope as my little country got. So it forces other countries to diversify and de-invest in the dollar to protect themselves.

We are now living in a world of two economies, One western and the other made up of BRICS nations which is only getting stronger yearly.

[Voroff]

Originally posted by AdahnGorion:

We all know what is coming.
https://www.youtube.com/watch?v=QC8EfQmoQUo

Hu. Comment under the video :

@danielcamacho1913
il y a 4 mois (modifié)
This is from the PBS documentary "Truth, War and Consequences" aired in 2003.
This short version of the video left out the part about how those soldiers didn’t have a translator with them, and made a lot of bad assumptions.
Later, when a translator arrived on the scene and talked to the taxi driver, he explained how the guy legitimately bought the wood.

I think I saw a clip of this at Fort McCoy. Those tankers had been immortalized in Army training as a bad example and cautionary tale.
The Army owed that guy a car, and they would be well within their rights to take that car money out of the tankers' pay

Personally, i'm appaled by the use of small guns "on top of it", just of out spite and to feel the gun spouting in your hand. The car crushing was unecessary, the small guns shooting was unecessary "on top".

Originally posted by Ganger:

This will only devalue the dollar even more and bring in more inflation for american people who are already struggling.
Weaponising the US dollar to fight russia was one strategic blunder the american's could of done. Because other countries are now looking at this and saying, if america can do this to russia, what hope as my little country got. .

Inflation is primarly because the US prints money without end instead of trying to cobble the hole of the debt. Debts of a country creates inflation, printing money devalues the existing money, thus inflation too. "20% of the total trade are in not-dollars, it's the sole cause of our downfaaaaaaaaaaaaaaall !" => nope, just an added wieght to sink faster, but absolutely not the cause.

And yes, weaponising money and trade was the worst move possible.
Not because "all others contrys are afraid", no.
Because they used the money and trade as weapon and are loosing. Woomp woomp.


On the topic itself : Saudi is not the sole petrol producer, the US are not in any sort of threat situation. But i bet there will be propaganda anti-saudi from now on, and maybe an US war on them in 10-15-ish years. Before that, the situation will depend on the OPEP/OPEC actions. I mean, OPEC is a real organisation, with members joining and quitting, laws and regulations - Brics so far is "a conference a year", and as i've seen so far : that's it, period.