'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.
Fertilizer and pharmaceutical manufacturing too, we're screwed if Russia and China cut us off.