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Saudi Arabia Announces End of Dollar Dominance in Global Oil Trade
Saudi Arabia Announces End of Dollar Dominance in Global Oil Trade
Posted on 01/19/2023 by EraOfLight — https://eraoflight.com/2023/01/19/saudi-arabia-announces-end-of-dollar-dominance-in-global-oil-trade/
Posted here by http://achama.biz.ly/english
As we have consistently warned for more than a year, Operation Sandman has now been activated, with Saudi Minister of Finance, Mohammed Al-Jadaan, telling Bloomberg TV (during a WEF Davos interview) that the Saudis will gladly accept all currencies for settling oil transactions.
The foundational pillar of US global currency dominance and its ability to export inflation to the world is based on the so-called Petrodollar status, in which the US agreed to protect the (corrupt) Saudi kingdom in exchange for the Saudis demanding US dollars for all oil transaction settlements. This agreement has been in place since the Bretton Woods conference in 1944 and has carried the dollar until today.
But this arrangement is now coming to an end.
Very few Americans have any clue what this means to their assets and their future.
Also, very few people realize that over 100 nations are prepared to renounce the petrodollar as the dominant currency for oil settlements. Instead, many nations are going to switch to using the Yuan (from China), or the digital Yuan, or the new BRICS+ commodities-backed reserve currency that’s about to be launched by China, Russia, India and other participating nations....+ https://eraoflight.com/2023/01/19/saudi-arabia-announces-end-of-dollar-dominance-in-global-oil-trade/
Posted on 01/19/2023 by EraOfLight — https://eraoflight.com/2023/01/19/saudi-arabia-announces-end-of-dollar-dominance-in-global-oil-trade/
Posted here by http://achama.biz.ly/english
As we have consistently warned for more than a year, Operation Sandman has now been activated, with Saudi Minister of Finance, Mohammed Al-Jadaan, telling Bloomberg TV (during a WEF Davos interview) that the Saudis will gladly accept all currencies for settling oil transactions.
The foundational pillar of US global currency dominance and its ability to export inflation to the world is based on the so-called Petrodollar status, in which the US agreed to protect the (corrupt) Saudi kingdom in exchange for the Saudis demanding US dollars for all oil transaction settlements. This agreement has been in place since the Bretton Woods conference in 1944 and has carried the dollar until today.
But this arrangement is now coming to an end.
Very few Americans have any clue what this means to their assets and their future.
Also, very few people realize that over 100 nations are prepared to renounce the petrodollar as the dominant currency for oil settlements. Instead, many nations are going to switch to using the Yuan (from China), or the digital Yuan, or the new BRICS+ commodities-backed reserve currency that’s about to be launched by China, Russia, India and other participating nations....+ https://eraoflight.com/2023/01/19/saudi-arabia-announces-end-of-dollar-dominance-in-global-oil-trade/
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