OMG, is everyone aware the Saudi just ditched the petrodollars!!!
Discussion
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Yes, and it’s not as big a deal as the news outlets are making out and the expiry has been known for ages. Changes little as it’s all being happening anyway just with a dollar step in between (and it’s been skipped out entirely on many black market routes). Only interesting thing is denomination in bitcoin for the publicity.
It's a big deal if you live in the US or one of it's territories.
It really isn’t. Very little will change.
You already know the answer to that
I’m confident I do. Happy to be proven wrong though, but things will only really change when oil reserves truly become scarce. Meanwhile those dollar-based deals will continue. Just can skip a chunk of them for slicker lower fee currency conversions.
Okay. But this cuts the Saudi's from us obligations to sell arms as that was also part of the deal.
It basically means that the US is at a tactical and practical disadvantage when it comes to the conflicts between Russia and Ukraine, and Israel and Palestine. Oil supply strains are beginning to take effect. This will undoubtedly have a big impact on energy costs as well.
Hmm.. To me, bluntly, (sorry) it basically just means a 6-page out-of-date document - a pact that was never legally binding (and did not prevent oil trade and arms exports with other countries) - has simply expired. The US can still sell arms to Saudi. The Saudis can still sell oil to the US. Both can still sell their wares to other countries, only now a dollar conversion is not needed for the Saudis. Whether this significantly impacts the dollar's global popularity, I don’t think so as that is largely based on the US’s status as the world's largest economy.
Yes, but not does not stop them buying arms.
Yeah. Mentioned it last week some time and nobody cares. makes the USD even more worthless than it already is.
I guess when it gets official its more when in line it s actually happening v its just same bs
There are plenty of other countries willing to trade on better terms these days.
