Replying to Avatar Lyn Alden

-China and Brazil agree to skip the dollar and exchange their own currencies directly.

-China uses yuan to settle LNG imports from the UAE, from the French supermajor Total.

-Saudi Arabia joins the Shanghai Cooperation Organization as a dialogue member.

-Saudi Aramco signs big refinery deals for construction in northern China.

It's been a pretty big few days for the anti-petrodollar crowd.
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VOLKER - Voice Of Logic Knowledge Experience & Responsibility 2y ago

The petrodollar formed when the world found that all fiat is not backed by anything. So they backed it with oil/power. Now some countries are going back to pure fiat?! #[1]​ how long do you think will it take until the world wakes up again, to the fact that their fiat is backed by nothing, and what new backing mechanism might they agree on?

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