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Nationalist
World at War
The petrodollar is dead, long live the chaos!
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<blockquote data-quote="Mad as Fish" data-source="post: 102041" data-attributes="member: 396"><p>This perhaps is worth a thread of its own.</p><p></p><p>Unsurprisingly little was made of an event last Sunday that goes a long way to explain recent global political developments.</p><p></p><p>The fifty year old agreement between Saudi Arabia and America in which the Saudis pledged to trade oil only in dollars quietly came to an end with no replacement in place.</p><p></p><p>This is big news, for as part of the deal the Saudis promised to lend its surplus revenues to the US treasury while America promised to provide military support, ie defend the kingdom from all comers. That has now come to an end and the dollar is once again just another currency as far as one of the world's largest oil producers is concerned.</p><p></p><p>This would explain why Saudi felt free to join Brics and why America is looking to gain control of Ukranian minerals which probably lie below the fields recently purchased by Monsamto et al, land that was released for sale just before war broke out.</p><p></p><p>The ramifications of, and amazing coincidences surrounding the ending of this deal have yet to be fully revealed and digested, but the world has just lost a major prop for what passed as stability and life is going to be different from now on.</p><p></p><p>[URL unfurl="true"]https://www.kitco.com/news/article/2024-06-13/saudi-arabia-ends-petrodollar-agreement-what-it-means-usd-bitcoin-and-gold[/URL]</p></blockquote><p></p>
[QUOTE="Mad as Fish, post: 102041, member: 396"] This perhaps is worth a thread of its own. Unsurprisingly little was made of an event last Sunday that goes a long way to explain recent global political developments. The fifty year old agreement between Saudi Arabia and America in which the Saudis pledged to trade oil only in dollars quietly came to an end with no replacement in place. This is big news, for as part of the deal the Saudis promised to lend its surplus revenues to the US treasury while America promised to provide military support, ie defend the kingdom from all comers. That has now come to an end and the dollar is once again just another currency as far as one of the world's largest oil producers is concerned. This would explain why Saudi felt free to join Brics and why America is looking to gain control of Ukranian minerals which probably lie below the fields recently purchased by Monsamto et al, land that was released for sale just before war broke out. The ramifications of, and amazing coincidences surrounding the ending of this deal have yet to be fully revealed and digested, but the world has just lost a major prop for what passed as stability and life is going to be different from now on. [URL unfurl="true"]https://www.kitco.com/news/article/2024-06-13/saudi-arabia-ends-petrodollar-agreement-what-it-means-usd-bitcoin-and-gold[/URL] [/QUOTE]
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