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Economy U.S.-Saudi Petrodollar Pact Ends after 50 Years

CantCucktheTuck said:

U.S.-Saudi Petrodollar Pact Ends after 50 Years​


What is the potential fallout from this? My understanding is that the US dollar would have already crashed if it were not being propped up by being the DeFacto reserve currency due to oil being sold exclusively in dollars out of Saudia Arabia.
It also seems very odd that really no major news organization are talking about this right now.

anyone here done any Indepth research on this?



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Lol you never cease to amaze with your bottom of the barrel sources feeding you the next outrage/fear porn.
 
Ballsaque said:
Lol, care to elaborate?
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The US dollar will always be the world currency up until the day the US ceases to exist.

Despite our incredible money printing addiction here, it’s nothing compared to China.

In a nutshell, you don’t have a world exchange currency that debases as fast as the yuan.
 
Rob Battisti said:
The US dollar will always be the world currency up until the day the US ceases to exist.

Despite our incredible money printing addiction here, it’s nothing compared to China.

In a nutshell, you don’t have a world exchange currency that debases as fast as the yuan.
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Oh you'll still be top globally.... usd isn't being replaced. But demand for usd will drop Slightly to begin with and hopefully that's all.

But yas just lost a huuuugeee reason many countries buy usd and bonds.
 
Copper Burner said:
I'm sure if this happened while Trump were president you would have the same opinion. Lol. Noone takes you seriously.
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It doesn't matter who's president when a 50 year old deal expires you moron.
 
USA ain't getting that boxing money?
 
Copper Burner said:
Trump would not have let the deal expire.

You act like this isn't a big deal lol. That is a real low iq position to take. Why am I not surprised.
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Then why didn't trump do something?
 
Some will convince you it's the end of America others will convince you it's a good thing. I'm guessing the world will keep spinning and life rolls on
 
Copper Burner said:
Trump would not have let the deal expire.

You act like this isn't a big deal lol. That is a real low iq position to take. Why am I not surprised.
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It's not a big deal because it's not real.

I figured this would end up here but I wasn't paying attention. It's pretty much fake news. There isn't even an agreement that obligates the Saudis to sell in dollars.

The actual agreement from 1974 is a secret agreement between the U.S. and Saudi Arabia, which promised military aid and equipment in exchange for the Kingdom investing billions of dollars of its oil-sales proceeds in U.S. Treasurys, Donovan said. The existence of this agreement wasn't revealed until 2016,

Reports of the petrodollar system's demise are 'fake news' - here's why

www.morningstar.com www.morningstar.com

Now it is true that less oil is being bought in dollars but that's been gradually happening for years, not as a sudden end to any agreement between the countries.
 
China Joe is crashing the dollar so that we can go digital currency.

Will you accept the mark of the beast?
 
Poon Goon said:
Ignoring the reasonable response to you above to only post this lets me know that you are completely full of shit.
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I didn't bring "the deal" up, awilder did. Liberal mod decided to reply to me for whatever odd reason.

Will you take the mark of the besst?
 
Rob Battisti said:
The US dollar will always be the world currency up until the day the US ceases to exist.
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That's what the British thought as well until they were bankrupted by the world wars in the 20th century.
Same thing will happen to the US unless it gets its shit together soon.
 
aerius said:
That's what the British thought as well until they were bankrupted by the world wars in the 20th century.
Same thing will happen to the US unless it gets its shit together soon.
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The alternative is the Yuan. Which is a joke.
 
Rob Battisti said:
The alternative is the Yuan. Which is a joke.
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IMO we're going to move away from having a single reserve currency. Trade & holdings of USD will gradually decline & shift to regional currencies until a new economic superpower or bloc establishes itself. It's already happening in the Middle East where more & more oil is now being sold in Yuan, Rubles, and Rupees among other currencies. Same thing is starting to happen in a few other sectors where settlement is moving away from USD towards other currencies.

Problem is a lot of nations resent the way USD dominance in trade along with bullshit US foreign policies are fucking them over. As the US economic system weakens they're going to start seeking alternatives or creating alternatives of their own. We could see something like each continent or region having their own currency for local trade, then trade between regions being settled with a basket currency of some sort.
 
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