Saudi Arabia ditches US dollar and will NOT renew the 50 year 'petro-dollar' agreement with the United States.

[Captain Caveman]

Democrats aren't bothered, they honestly believe they will be dealing in barrels of electric and oil will be defunct.

 

[sparky]

We know you don't really care about facts

it's more about understanding the facts Dudley

those that read IMF & World bank press releases usually don't

these are the same sorts that think a fiat system is made in Italy

~S~

 

[Harpy Eagle]

I didn't.

Sounds retarded.

It is good you are not ashamed of your ignorance.

While the name is stupid, the act sounds far better than just camping...though I have no desire to do either.

 

[Harpy Eagle]

it's more about understanding the facts Dudley

those that read IMF & World bank press releases usually don't

these are the same sorts that think a fiat system is made in Italy

~S~

The IMF and WB put out press releases?

 

[The Duke]

Here's links for you. As if you're going to read them.

Petrodollar Collapse: The Rise & Fall of the Petrodollar

The petrodollar is how the U.S. dollar retained global reserve currency status even after defaulting on the gold standard - temporarily...

www.birchgold.com

The Rise of the Petrodollar System: “Dollars for Oil”

There are circumstances surrounding the demise of this failed "dollars for gold" arrangement, with a particular emphasis on how its demise will deal a major blow to global dollar demand.

www.financialsense.com

The U.S. Is Facing A Major Challenge As Petrodollar Loses Force

On January 17, the Saudi minister of finance, Mohammed Al-Jadaan, announced that the Saudi state is open to selling oil in currencies other...

markets.businessinsider.com

 

[sparky]

The IMF and WB put out press releases?

Google it Harpy

~S~

 

[citygator]

Dollar looks really scary... for other countries. The dollar is strong.

 

[sparky]

Here's links for you. As if you're going to read them.

Petrodollar Collapse: The Rise & Fall of the Petrodollar

The petrodollar is how the U.S. dollar retained global reserve currency status even after defaulting on the gold standard - temporarily...

www.birchgold.com

The Rise of the Petrodollar System: “Dollars for Oil”

There are circumstances surrounding the demise of this failed "dollars for gold" arrangement, with a particular emphasis on how its demise will deal a major blow to global dollar demand.

www.financialsense.com

The U.S. Is Facing A Major Challenge As Petrodollar Loses Force

On January 17, the Saudi minister of finance, Mohammed Al-Jadaan, announced that the Saudi state is open to selling oil in currencies other...

markets.businessinsider.com

The only reason the USofA had any allegiance to Israel just went <poof>.........~S~

 

[The Duke]

The only reason the USofA had any allegiance to Israel just went <poof>.........~S~

My but we live in interesting times.

RackaFrackaFrappaFrippin' GRAWR!

 

[The Duke]

it's more about understanding the facts Dudley

those that read IMF & World bank press releases usually don't

these are the same sorts that think a fiat system is made in Italy

~S~

Thx, I needed a laugh.

Yehbut, I think they do make Fiat systems in Italy.

 

[citygator]

Mr. Global will give it to you straight:

 

[DudleySmith]

Fun Facts re SAudi oil ...

Crude Petroleum in Saudi Arabia | The Observatory of Economic Complexity

Find the latest exports, imports and tariffs for Crude Petroleum trade in Saudi Arabia.

oec.world

Now, notice anything about their top export markets? lol ... No matter where they sell it, it inevitably ends up being dependent on U.S. markets and by extension dollars, followed by Euros.

 

[Harpy Eagle]

Here's links for you. As if you're going to read them.

Petrodollar Collapse: The Rise & Fall of the Petrodollar

The petrodollar is how the U.S. dollar retained global reserve currency status even after defaulting on the gold standard - temporarily...

www.birchgold.com

The Rise of the Petrodollar System: “Dollars for Oil”

There are circumstances surrounding the demise of this failed "dollars for gold" arrangement, with a particular emphasis on how its demise will deal a major blow to global dollar demand.

www.financialsense.com

The U.S. Is Facing A Major Challenge As Petrodollar Loses Force

On January 17, the Saudi minister of finance, Mohammed Al-Jadaan, announced that the Saudi state is open to selling oil in currencies other...

markets.businessinsider.com

Thanks. The first two were useless as I did not need the history less of the petrodollar.

The 3rd one was very good.

From the 3rd one...
The Geopolitics of the Petrodollar
The more obvious short-term effects of the move away from the petrodollar will be in geopolitics rather than in the currency order. In addition to signaling that it is no longer wedded to the dollar, Saudi Arabia has also recently announced its openness toward Russia and a willingness to join the Brazil, Russia, India, China, and South Africa (BRICS) nations. This shift in strategic interests for Saudi Arabia potentially poses an immediate threat to US strategic interests, in that the US regime has become accustomed to dominating the entire Persian Gulf region through the US’s Saudi ties. A Saudi turn away from the petrodollar will magnify this shift. That will be enough to further threaten the American standard of living, but not enough in itself to end the dollar. After all, the pound sterling did not cease to exist after its own fall from its vaunted position as the preferred global reserve currency. But it did become far less powerful. The dollar is headed in the same direction.

This was inevitable, no matter who the POTUS might be. People are tired of the US being the big bully on the block. They are tired of us interfering in their governing. During COVID we threatened SA into cutting oil production, then after COVID we tried to force them to increase it again. Can you blame them for being done with us?

Also, the US is no longer a reliable ally. There is too much uncertainty and change when there is a new POTUS. Other countries would be stupid to trust the US.

We as a country just need to get used to the idea our empire is coming to an end. It will be ok.

 

[surada]

Thanks. The first two were useless as I did not need the history less of the petrodollar.

The 3rd one was very good.

From the 3rd one...
The Geopolitics of the Petrodollar
The more obvious short-term effects of the move away from the petrodollar will be in geopolitics rather than in the currency order. In addition to signaling that it is no longer wedded to the dollar, Saudi Arabia has also recently announced its openness toward Russia and a willingness to join the Brazil, Russia, India, China, and South Africa (BRICS) nations. This shift in strategic interests for Saudi Arabia potentially poses an immediate threat to US strategic interests, in that the US regime has become accustomed to dominating the entire Persian Gulf region through the US’s Saudi ties. A Saudi turn away from the petrodollar will magnify this shift. That will be enough to further threaten the American standard of living, but not enough in itself to end the dollar. After all, the pound sterling did not cease to exist after its own fall from its vaunted position as the preferred global reserve currency. But it did become far less powerful. The dollar is headed in the same direction.

This was inevitable, no matter who the POTUS might be. People are tired of the US being the big bully on the block. They are tired of us interfering in their governing. During COVID we threatened SA into cutting oil production, then after COVID we tried to force them to increase it again. Can you blame them for being done with us?

Also, the US is no longer a reliable ally. There is too much uncertainty and change when there is a new POTUS. Other countries would be stupid to trust the US.

We as a country just need to get used to the idea our empire is coming to an end. It will be ok.

Trump lied about threatening Arabia. Saudi Aramco had already cut production because of COVID-19. There just wasn't any demand. Look. Over 200 US oil companies declared bankruptcy during COVID-19.

 

[sparky]

Thanks. The first two were useless as I did not need the history less of the petrodollar.

The 3rd one was very good.

From the 3rd one...
The Geopolitics of the Petrodollar
The more obvious short-term effects of the move away from the petrodollar will be in geopolitics rather than in the currency order. In addition to signaling that it is no longer wedded to the dollar, Saudi Arabia has also recently announced its openness toward Russia and a willingness to join the Brazil, Russia, India, China, and South Africa (BRICS) nations. This shift in strategic interests for Saudi Arabia potentially poses an immediate threat to US strategic interests, in that the US regime has become accustomed to dominating the entire Persian Gulf region through the US’s Saudi ties. A Saudi turn away from the petrodollar will magnify this shift. That will be enough to further threaten the American standard of living, but not enough in itself to end the dollar. After all, the pound sterling did not cease to exist after its own fall from its vaunted position as the preferred global reserve currency. But it did become far less powerful. The dollar is headed in the same direction.

This was inevitable, no matter who the POTUS might be. People are tired of the US being the big bully on the block. They are tired of us interfering in their governing. During COVID we threatened SA into cutting oil production, then after COVID we tried to force them to increase it again. Can you blame them for being done with us?

Also, the US is no longer a reliable ally. There is too much uncertainty and change when there is a new POTUS. Other countries would be stupid to trust the US.

We as a country just need to get used to the idea our empire is coming to an end. It will be ok.

As all of this rock's conflicts have some inherent economic dispute , i suspect any ally we have will be considering the bric bucks now

~S~

 

[sparky]

Over 200 US oil companies declared bankruptcy during COVID-19.

over Bidenomic policies , or supply demand surada?

Over 100 oil and gas companies went bankrupt in 2020

More than 100 oil and gas companies declared bankruptcy in 2020 after the coronavirus pandemic plunged the energy sector into the worst downturn in a generation.

www.ogv.energy

~S~

 

[surada]

over Bidenomic policies , or supply demand surada?

Over 100 oil and gas companies went bankrupt in 2020

More than 100 oil and gas companies declared bankruptcy in 2020 after the coronavirus pandemic plunged the energy sector into the worst downturn in a generation.

www.ogv.energy

~S~

In 2020 when there was no demand for petroleum.

 

[sparky]

In 2020 when there was no demand for petroleum.

Not sustainable In a petro-dependent world surada

~S~

 

[surada]

Not sustainable In a petro-dependent world surada

~S~

What? There was no demand in 2020. What does that have to do with "sustainable"?

 

[sparky]

What? There was no demand in 2020. What does that have to do with "sustainable"?

We're 7 billion, and growing surada

~S~