-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.
yeah good summary!
multipolar world is locked in the block!?
could we say like this alright!?
Glad your back! The drift away from the Petrodollar will be a slow drip then waterfall.
#mandibles
Seems like China and Brazil and Russia are jumping into the fire from the frying pan. With the strengthening of the yuan, wouldn’t that increase US inflation implying continued Fed tightening? The plot thickens.
I like this question because I’m not of the answer.
Less global demand for dollars means the value of the dollar is weakening against the other currencies being used.
I think this means imports paid in dollars are more expensive, price inflation.
And the US imports a lot of stuff.
Fed might raise interests in an attempt to attract investment and create demand for the dollar.
The increased interest rates makes debt more expensive, raise the cost of doing business, downward pressure on markets.
Ultimately I think this lands back on printing to avoid a full economic breakdown.
🤙
The spiral down.
Thanks #[1] !
RIP USD 
Shit is happening. There’s no going back.
#[0]
There is also this… https://images.app.goo.gl/jqKaapUGG9D645NMA
Yes, of course.
Wow
I’ll just leave this here…. https://images.app.goo.gl/jqKaapUGG9D645NMA
damn.
Snizzle🫠😵
When the sanctions took effect last year I started to realize this was the play Putin was making and we took the bait. The play was to end the petrodollar. It's over.
#[0]
gd
Shit's real out there in fiat land.
#[0]
Sounds like these countries will be in need of some "freedom" in the next 6 to 12 months 👀
#[0]
Life comes at you fast
This is big news
The world order is changing in front of our eyes
👀
Your post is getting a lot of eyes on it.
Added to the https://member.cash/hot feed
I believe the US overplayed its hand with regards to support of Ukraine and denouncing Russia’s aggression. The sanctions did very little, since Russia found plenty of ways to get around them. The end result will most likely be remembered as far more substantial than the sanctions. Russia and the countries it does business with decided to cut the dollar out completely, which defangs the bite of the sanctions. The US and its allies may have shot themselves in the foot.
And with the profit from these transactions, they’ll buy dollars. Also, guess what’s the reference price? The dollar one. Too much credit given to EMM economies. Living in Brazil I can say this is just talk. Nothing meaningful. We don’t trust each other
There were so many warnings, so many second chances, so much begging and pleading to stop, but we didn't listen. Even now, I'm of the firm belief that these countries would drop what they are doing and come back to the table if we could just stop being such dickheads. We deserve this.
Gradually then suddenly…
A multipolar order is arriving and so many are stuck thinking it’s not possible even whilst it’s happening.
Bitcoin as an economic polarity is where I believe this goes, a hedge between The West and BRICS+ (for want of better classifications) for nations that need to tread carefully in a world fracturing across politics / culture / economy / technology etc.
Brent’s dollar milkshake is going to be tipped in his lap before he even gets a sip.
If it does act as a hedge then now is the time to get in certainly ... https://www.algora.com/Algora_blog/2023/03/12/brics-countries-overtake-the-g7-in-share-of-world-gdp
this is fine
Lyn, what do you think might happen to the US stock market as a result of petrol dollar breaking down?
Well for one I don’t think it will be quick, and for two I think the stock market would probably go up from it… in dollar terms.
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?
Lyn, why are they chosing not to settle in physical gold?
Is it because the Chinese want to import things for cheap at the risk of weakening revenue from exports?
Or is it because paper gold (controlled by Westerners) is distorting the price of physical gold too much?
Or they are willing to go to max pain as long as they weaken USD and USA's standard of living?
Thank you 🫡
European Central Bank in Frankfurt
https://twitter.com/bitman_bob/status/1641184791310618627?s=46&t=MZ-cb09K1Nl4FlxB_Ao2uw
#[4]
The world is changing
#[0]
So what's next?
I keep harping on about what a big deal this is, but most people don't seem to understand.
Most Americans don't understand that almost everything in their town like hospitals, high schools, car dealers, grocery stores, and V.A./S.S./EBT & Pension checks that are dependent on Federal spending will simply stop when the Petro-Dollar dies.
The BRICS and their economic allies are all making moves against the Dollar. The next couple years are going to get interesting.
Thais is awesome.The USA will fight back,Maybe in Taiwan?They have the greatest Militarypower and won‘t look that the Petrodollar will going down.Crazy Times
Lyn, do i have this right and your thoughts please...
Fiat currency is just debt, issued upon on debt, issued upon debt, etc.
US Treasuries are the base layer, as the deepest and most liquid market.
If so, are we just one failed US Treasury auction away from a re-ordering of global power?
What are the scenarios, however improbable, that could cause it -- and how should the US be hedging?
