Saudi Arabia not renewing Petrodollar agreement…..

[Over70irregs]

Pretty much every country has dollar reserves. They aren't going to just walk away from it.

Correct. It would upset markets. We are being out networked in broad daylight. Before his summit with North Korea's Kim, Putin vows they'll beat sanctions together

 

[Fred's Myth]

Nope. Been planning this for awhile. I'm in the fortunate position of currently having no rent or utilities or car payment. Which is good because I'm knocking off debt from my heart attack and some back taxes. I'll be paying all cash for a travel trailer.

Let's say an apartment is $800 a month plus utilities. That's $9600 a year plus utilities. Even with paying for a trailer outright it won't take long to come out ahead on that deal.

You're assuming I'll be traveling with the trailer. I lived 12 years in a 26' travel trailer. Only moved it when I transferred and paid someone to move it for me. A lot cheaper than owning a pickup.

The pickup boondocking will have a small truck camper in the bed. I'll probably do that until my mid-70's assuming I'm alive.

And if you keep the trailer in the park there's no need to tag it or insure it. If I ever move it can get a temp tag or have a trabsporter put his transport plate on it.

One person with a couple of small dogs can be perfectly comfortable in a travel trailer with slideouts. Like a small apartment. What I'm likely to do is buy a toy hauler trailer. Empty except for a nice bathroom and small kitchen on one end. Put a big screen tv across the other end, a bed and an easy chair. Just like having a studio apartment.

Stay out of tornado alley…..

 

[Over70irregs]

Did anyone here, hear about this? Very interesting.
“The Saudi authorities have said that they want to increase the number of annual pilgrims visiting Mecca year-round to 30 million by 2030, as part of the vision 2030 plan, which aims to wean the kingdom off of oil revenue with measures including increased tourism.”

 

[Over70irregs]

Someone is smart. I guess our petrodollar agreement is running great eh?

Saudi Arabia’s trade surplus hits yearly high of $11bn in April amid surge in non-oil exports

RIYADH: Saudi Arabia’s trade balance surplus hit a year-high of SR41.4 billion ($11.04 billion) in April, a 36 percent increase from the previous month, fueled by a surge in non-oil exports. According to the General Authority for Statistics, the Kingdom’s non-oil shipments rose by 12.4 percent...

www.arabnews.com

 

[Over70irregs]

Again we are being slooooooowly circumvented. BRICS 2024: Malaysia And Thailand Looking To Join BRICS | Here's Why

Japan . Have to protect themselves I guess.

$63,000,000,000 in US Treasuries and European Bonds To Be Liquidated As Unrealized Losses Hammer Major Bank in Japan - The Daily Hodl

A banking giant in Japan has announced a plan to liquidate $63 billion in US and European treasuries in an attempt to mitigate a massive amount of unrealized losses on its balance sheet.

dailyhodl.com

 

[Over70irregs]

Project mBridge reaches minimum viable product stage and invites further international participation

Project mBridge experiments with a multiple-central bank digital currency (multi-CBDC) common platform for wholesale cross-border payments. It seeks to solve some of the key inefficiencies of cross-border payments, such as high costs, low speed and transparency, and operational complexities.

www.bis.org

 

[brianbonner]

I'm not asking a 3rd time. He's ignoring the most obvious question. He is full of regarding the June 9th, 2024 "Petrodollar Expiration". Recognize it.

The petrodollar, a 50-year-old agreement between the US and Saudi Arabia, has been in the spotlight recently. While it has not officially “expired,” significant changes are underway.

Recent Events:

• Saudi Arabia has decided not to renew its petrodollar deal with the US, allowing it to sell oil and other goods in various currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of solely in US dollars.
• The longstanding security agreement between the US and Saudi Arabia expired on June 9, 2024, marking a significant shift in their relationship.

Historical Context:

• The petrodollar was established in the early 1970s, when the US provided economic aid to Saudi Arabia in exchange for pricing its crude exports exclusively in US dollars.
• By 1975, other OPEC members followed suit, solidifying the petrodollar’s dominance.

Current Trends:

• China and Russia are increasingly making settlements in currencies other than the US dollar, potentially weakening the petrodollar’s grip on global trade.
• The Gulf nations are using their petrodollar wealth to wield influence on the world stage, investing in strategic goals and playing a role in war-torn regions.

Implications:

• The end of the petrodollar deal with Saudi Arabia may lead to a decline in the US dollar’s dominance in global trade and finance.
• Alternative currencies, such as the Chinese RMB, may gain prominence in international transactions.
• The shift may also impact the global economy, potentially leading to changes in investment patterns and economic diplomacy.

While the petrodollar has not officially expired, these recent developments signal a significant shift in the global financial landscape, with potential benefits for Bitcoin and other digital currencies.

 

[Over70irregs]

The petrodollar, a 50-year-old agreement between the US and Saudi Arabia, has been in the spotlight recently. While it has not officially “expired,” significant changes are underway.

Recent Events:

• Saudi Arabia has decided not to renew its petrodollar deal with the US, allowing it to sell oil and other goods in various currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of solely in US dollars.
• The longstanding security agreement between the US and Saudi Arabia expired on June 9, 2024, marking a significant shift in their relationship.

Historical Context:

• The petrodollar was established in the early 1970s, when the US provided economic aid to Saudi Arabia in exchange for pricing its crude exports exclusively in US dollars.
• By 1975, other OPEC members followed suit, solidifying the petrodollar’s dominance.

Current Trends:

• China and Russia are increasingly making settlements in currencies other than the US dollar, potentially weakening the petrodollar’s grip on global trade.
• The Gulf nations are using their petrodollar wealth to wield influence on the world stage, investing in strategic goals and playing a role in war-torn regions.

Implications:

• The end of the petrodollar deal with Saudi Arabia may lead to a decline in the US dollar’s dominance in global trade and finance.
• Alternative currencies, such as the Chinese RMB, may gain prominence in international transactions.
• The shift may also impact the global economy, potentially leading to changes in investment patterns and economic diplomacy.

While the petrodollar has not officially expired, these recent developments signal a significant shift in the global financial landscape, with potential benefits for Bitcoin and other digital currencies.

Losing as we speak. Letting us down slowly. We are the reserve. But our candidates know the truth. This is why they are espousing Bitcoin. Every EV sold is a nail in dominance coffin. Has to be Slow or chaos ensues. They respect our Dept of War otherwise known as Dept of defense.

 

[Over70irregs]

BRICS News: Will Saudi Arabia's Ditching of the Petrodollar Open the Door for Bitcoin and XRP in Oil Settlements?

Saudi Arabia’s top official discloses that the country could use Yuan for crude settlement amid the upcoming BRICS Summit.

www.crypto-news-flash.com