'Black Swan' June 9th prediction about petrodollar agreement ending is almost certainly fake - more in comments
(www.1arabia.com)
ECON & BANK COLLAPSE 💸
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I've been seeing this 'news' crop up in a few places so I decided to do some digging.
First off, the original agreements were along the lines of a working model, not an official agreement with a specified end date.
I've also been trawling the financial news in numerous places and found nothing to corroborate the claims being made about Saudi not 'renewing' this agreement.
That isn't to say something isn't in the offing, it could well be. There's plenty of news about Saudi moving away from the dollar and accepting other currencies, but nothing like this kind of 'announcement'.
Diligence required.
The whole "Saudi will not accept dollars for oil" is not even a necessary component for the crash of the dollar.
All we need is Saudi accepting local currencies (non US Dollar) for oil. Thats all.
Why is this? USD is the "world reserve currency" simply because they forced all oil producing countries to sell oil exclusively in USD. This mean every country had to stock pile USD to be able to buy oil, and every country was at America's mercy as far as the USD currency price was concerned.
That has ended, with Saudi saying that they are considering selling oil for local currencies. The only important question is - When and how many countries will be buying oil in non-USD currencies.
Even more of a good argument to bring all manufacturing back to the Continental USA. Start production of durable goods. My Mother has a Stove from the 70's that still works fine. Meanwhile another family member has dropped over $2k in stoves over the last 8 years and they still keep breaking. Make a durable simple car, with simple mechanics that uses the same parts in the same cars for Decades. Each State can handle key parts and pieces and then guarantee employment and industry to these parts of the Country. Id freeze all evil capital and offer it amnesty if it invests hugely on infrastructure where it holds a minority position and needs to work in tandem with labour and National needs.
The refrigerator I keep out in my workshop office was in my parents basement when I was just a lad in the late 60s/early 70s. It was already 15 or more years old then. I have never had any work done on it. It is a Frigidaire.
Now everything is engineered with planned obsolescence in mind and that time is about 2 years after sale. I had a burner go out in my wifes 2 year old oven. It was only 200 dollars more to replace the entire oven. So thats what we did.
Fertilizer and pharmaceutical manufacturing too, we're screwed if Russia and China cut us off.
You should sticky this thread bubble.
The federal reserve is the problem, if it doesn’t die and the rest of the banking cartels don’t fall, we’ve lost— just like we’ve been losing through the bondage of generational debt for centuries.
Correct. Hopefully white hats are in control.
u/Buttwipe I don't think it necessarily indicates the Q team and Trump are "against us", but rather they just bit off more than they could chew.
While this isn’t a “no renewal” article that I’m linking, it is an article showing that China and Saudi Arabia have already begun a deal with they have agreed to a currency swap. This in itself is big news as it shows SA is partnering with China on trade. https://munaeem.medium.com/saudi-arabia-signs-a-yuan-deal-566e0ea6c6d0
I think the only way for this to be real is for Saudi to have secured military protection from someplace else. Becase of the Petrodollar Saudi is protected by the US military. That is not something they can just throw away.
That’s a good point, SA did join BRICS in January this year, perhaps there is an arrangement in the works.
I picked up on that too, although there has been talk of Saudi obtaining weapons from both Russia and China, but no-one mentioned anything about personel, because sure as shit the Saudi's are pretty useless on their own - or at least they were 30 years ago when I was last there.
Extra updoot for using the word "trawling" in this context. Noice!
It is the narrative they will push as to why the dollar collapses. It couldn't be the greed and theft the bankers were doing, it has to be the Saudis fault. Projection is what they do well!
Whats that link supposed to be for? If you wanted to link to an article, it looks like you linked to the front page?
It was to all the most recent articles about 'oil' so people could see for themselves - otherwise it's pretty hard to prove a negative.
Petro dollar ended. It may pretend to still exist but fiat is dead. I'm blown away anyone still takes it.
We seem to have one of these predictions at least every 6 months and I've long ago grown tired of nothing happening each time. I lost money on puts every time except for Credit Suisse going under.