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You have ZERO comprehension of how these things work. And you are so insecure you have to use an ad hominem.
And yeah, a real POTUS would have prevented this. Instead, we have POTATUS.
But countries will not need to buy or keep $US to purchase Saudi oil. I'm very happy to see this day.Chill out. Saudi Arabia doesn't sell much oil to the US. They do sell lots to China and India. This decision has nothing to do with Biden. You're an idiot.
France didn’t even have a government in 1944. And Breton Woods only pegged the value of US currency to gold. No gold was going to be given to France. A simple Wikki search would have saved you embarrassment.After the U.S. reneged on paying off gold to France from the Bretton Woods agreement from WW 2, the world financial system started to buckle. A basket of currencies was set up with our nation not paying attention to oil producing nations. They saw an opening with a developing Watergate, and we still treated them stupidly. Eventually we made a deal where our currency aligned with the greatest sweet crude oil on earth at the time. And Saudi Arabia was ground zero. So, our currency and Saudi oil which is a commodity ruled for a half century. We lost control of our Fiat Currency at that time as we cry about massive debts that grow and grow now. There are different grades of oil. We may export our lower grades to other parts of the world to get the sweetest ones imported for us.
After the U.S. reneged on paying off gold to France from the Bretton Woods agreement from WW 2, the world financial system started to buckle. A basket of currencies was set up with our nation not paying attention to oil producing nations. They saw an opening with a developing Watergate, and we still treated them stupidly. Eventually we made a deal where our currency aligned with the greatest sweet crude oil on earth at the time. And Saudi Arabia was ground zero. So, our currency and Saudi oil which is a commodity ruled for a half century. We lost control of our Fiat Currency at that time as we cry about massive debts that grow and grow now. There are different grades of oil. We may export our lower grades to other parts of the world to get the sweetest ones imported for us.
French president Charles Degaulle had a choice of fiat American dollars or gold under that agreement. We did not have it in 1971. We were and are the world's reserve currency. At the time 90% of the world trades from one currency to another with us as the middleman taking a cut. With the Federal Reserve owners taking their cut for printing those fiat dollars.France didn’t even have a government in 1944. And Breton Woods only pegged the value of US currency to gold. No gold was going to be given to France. A simple Wikki search would have saved you embarrassment.
You are mistakenLol..This thread coming from Trumpists who constantly rant about a return to isolationism and that the US should withdraw from its treaty obligations. Nothing would please Trumpists more than to see the dollar dropped as the world’s reserve currency. It would be in line with their world view.
You are mistaken
We want America to be strong but it looks like you dont
MAGAs understand the importance of Saudi Arabia to the US
Obama and Biden have severely damaged our country by making an enemy of Saudi Arabia
Obama and Biden treat the Saudi’s as the enemySaudi Arabia isn't an enemy. Who claims they are?
Obama and Biden treat the Saudi’s as the enemy
Indeeds libs in general hate Saudi Arabia and have for decades
How many are American Americans and how many are Saudi’s with duel citizenship?Lolol.. Don't be stupid. 40,000 Americans live in Saudi Arabia and like it just fine.
How many are American Americans and how many are Saudi’s with duel citizenship?
You objection is pointlessI was just talking about Americans. There aren't a lot of dual citizen Saudis.
You objection is pointless
Many Americans and Brits work in the oil industry there and that wont change overnight
But obama and biden breaking the political bond with SA will have long term consequences
Go back to Ghawar and spew your leftist nonsense. See how long you last.Libya has the lightest, sweetest crude not Saudi Arabia. I grew up in Ghawar.
Most of Saudi Arabia's crude oils, such as Arab Light, Medium and Heavy, are sour grades, a type that requires more complex refining and typically trades at a discount to sweet crude, which has lower sulfur content.
Go back to Ghawar and spew your leftist nonsense. See how long you last.
No. I mean what I posted.You mean about the high sulphur content of Saudi oil?
What is your experience in Saudi Arabia?
No. I mean what I posted.
Really not that big of a thing. The dollar is still part of the LIBOR mix as are the Euro and Yen.
