Not beyond the realms of possibility having lived and worked in the Middle East for the past decade. Currently all countries there are toeing the dollar line (and banning bitcoin mining etc) but wouldn’t put it past them especially Dubai and Saudi Arabia from pivoting and adopting a petrobitcoin mindset. Only time will tell but I know one thing. Their people are not unaware of sound money and indeed they already have their own exchanges (Bahrain with Rain and Dubai with Bitoasis). Not far behind the curve just not very well publicised.
Discussion
Great insights. And put yourself in the shoes of these Middle Eastern nations leaders as they watched:
- US orders Russia’s reserve assets seized
- US orders Russia kicked off SWIFT
- US bombs Nordstream pipeline
- US ploughs in $100B? to Ukraine
- Blackrock already has agreements to fund Ukraine rebuild and own the joint
- US sends warships to Middle East as Israel retaliates against Gaza
- US sends Israel billions more
- Israel goes nuts killing children and having anyone who questions them smeared as anti-Semitic
- US politicians champing at the bit for war with Iran calling them and China+Russia “unholy alliance”
- France getting kicked out of African colonies who they pillage for cheap resources with CFA
- Europe wants ‘Trillions’ for renewable energy and to cease fossil fuel usage through global carbon pricing system
Why wouldn’t they look to hedge their bets?
US can’t fight everyone everywhere all at once, they could barely arm Ukraine in a proxy war. But they could fuck your shit up if you started trying to move large quantities of gold around the world, and/or just nix your US Treasury holdings..
And now the West wants to cut off the oil wealth of these nations with this green agenda nonsense?
Petrobitcoin might be tough today whilst the network is still monetising but it’s 1000X better to hedge the geopolitics outside of existing systems and start shifting toward it now before things collapse rather than staying stuck under Western thumbs.
The other fundamental issue that is often overlooked is that these nations (as well as China) literally own the western world’s debt. Just a matter of time before they call for repayment.
