The news related to Aramco is inaccurate and therefore all the analyzes contained in the matter are incorrect.
An official in Saudi Aramco denied the authenticity of the news that talks about the use of the Chinese yuan in trading[1].
The Saudis have been selling oil exclusively in dollars since 1974, which is the framework of an agreement made with the Nixon administration that included providing security guarantees to the kingdom. Therefore, replacing the yuan would constitute a real change to the policies that the kingdom is doing, which I do not think is likely at the present time and with all these economic changes.
In general, the talks between the two countries began a long time ago and have nothing to do with the current inflation, although I rule out that we will see a change in the petrodollar at the present time.
[1] https://arabicpost.net/%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1/world/2022/03/15/%D9%85%D9%81%D8%A7%D9%88%D8%B6%D8%A7%D8%AA-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%B5%D9%8A%D9%86%D9%8A%D8%A9-%D9%84%D8%AA%D8%B3%D8%B9%D9%8A%D8%B1-%D9%85%D8%A8%D9%8A%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84/
Topic: End Of US 'Global Dominance'? (Read 27 times)
News has recently come out that Saudi Arabia are contemplating an offer from China in order to accept (Digital) Yuan for Saudi oil. Oil is currently traded globally and exclusively in USD - petrodollars, a fact that greatly benefits the United States. In doing this, the United States have avoided Venezuela-scale hyperinflation by sharing the inflation and debt with the rest of the world - this is what made the United States a global superpower to begin with. Countries such as Iran or Venezuela, who faced the consequences of the dollar hegemony, have been too small or irrelevant for the world to care about enough in order to take swift actions towards.
Losing the petrodollars and seeing the world transition away from USD as the global reserve currency would be the worst possible scenario for the United States. If the global reserve currency were to be changed, for example, Digital Yuan or Bitcoin instead of USD, the United States would have no method to share their debt and inflation with the rest of the world, thus, would be liable to pay up their currently $30t debt. This would mean a major economic recession in the United States - sky-high taxes and potentially more money printing, the integrity of the USD would tumble.
It becomes clearer and clearer each day that Putin & Russia may have planned and foreseen these ramifications from the start. If you want to disband NATO, coerce and target the main country behind it, the US. The sanctions don't hurt Putin, they actually help him in many cases. All the sanctions have done, is allow Russia to leverage their natural gas and oil, as well as show the world how America has used the US Dollar as a weapon against other countries - why wouldn't Saudi Arabia etc move away from USD to protect themselves from such threats in the future? There're even some rumours that Russia may start trading their oil in gold, or even Bitcoin.
We may/probably are witnessing a global shift in power unfold before our eyes every day - one has to ask at this point, is Biden trying to destroy the United States? Either way he is not mentally equipped to be President, and to think that there were national celebrations when he was inaugurated. Trump was, and still is, the best candidate America right now could ask for.
Just look at what happened in England/UK when the reserve currency of the world shifted from Pound Sterling to the US Dollar. You're about to see a repeat of that, but with more modern and globalised consequences.
America deserves this for using the USD as a weapon.
Losing the petrodollars and seeing the world transition away from USD as the global reserve currency would be the worst possible scenario for the United States. If the global reserve currency were to be changed, for example, Digital Yuan or Bitcoin instead of USD, the United States would have no method to share their debt and inflation with the rest of the world, thus, would be liable to pay up their currently $30t debt. This would mean a major economic recession in the United States - sky-high taxes and potentially more money printing, the integrity of the USD would tumble.
It becomes clearer and clearer each day that Putin & Russia may have planned and foreseen these ramifications from the start. If you want to disband NATO, coerce and target the main country behind it, the US. The sanctions don't hurt Putin, they actually help him in many cases. All the sanctions have done, is allow Russia to leverage their natural gas and oil, as well as show the world how America has used the US Dollar as a weapon against other countries - why wouldn't Saudi Arabia etc move away from USD to protect themselves from such threats in the future? There're even some rumours that Russia may start trading their oil in gold, or even Bitcoin.
We may/probably are witnessing a global shift in power unfold before our eyes every day - one has to ask at this point, is Biden trying to destroy the United States? Either way he is not mentally equipped to be President, and to think that there were national celebrations when he was inaugurated. Trump was, and still is, the best candidate America right now could ask for.
Just look at what happened in England/UK when the reserve currency of the world shifted from Pound Sterling to the US Dollar. You're about to see a repeat of that, but with more modern and globalised consequences.
America deserves this for using the USD as a weapon.
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