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Xitter is full of people saying the petrodollar is dead because Saudi Arabia didn’t renew an agreement with the US to exclusively sell oil in Dollars 🤦‍♂️

Clearly I am a dollar bear as evidenced below, but come on people!

There’s no fucking petrodollar contract with a 50 year term that just randomly expired last week because Biden forgot to negotiate an extension. That is not and never was, how modern geopolitics works.

There’s military and trade alliances, leeway for diplomats and top officials, heavy blackmail, brown paper bags (actually suitcases) full of cash and gold, blind eyes turned and all sorts of shit going on in the background.

This ☝️ is why BRICS *is* happening; manoeuvring and politicking. Not because of a piece of paper signed by dead people some 5 decades ago - but because of the actions of leaders alive today, dealing with reality as it is rather than how the textbooks record it.

If it was as simple as an expiring contract propping up the Dollar; the US would have invaded Saudi Arabia the day after expiry. nostr:note1526hch0dhc6xaaf0cf04k8gxwm2mty9m2zvgdzn6uj20hls7rqesauwjsd

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Discussion

𝕞ptf 1y ago

these people are delusional!! LOL

StackSats.IO 1y ago

Some people were sceptical at least, far too many just absorbed the narrative and ran with it though.

TheBitcoinManual 1y ago

Lol good luck reworking those markets to not use dollars

StackSats.IO 1y ago

It’s already happening, just at a pace too slow for most people to bother paying attention to.

hh 1y ago

You know being a bitcoiner is being short the USD, so I'm with you on that.

But that in my opinion doesn't mean the USD will be replaced by anything the "BRICS" can come up with.

If the USD is absolute trash, imagine the hypermanipulated RMB, the useless Russian Ruble, etc. There is no alternative to the USD as a fiat currency for trade and for reserve. None. They all go to zero, but the USD will be the last one of the lot.

StackSats.IO 1y ago

I don’t think anything BRICS comes up will replace the USD - I expect it will compete with it, fucking up the liquidity balance of the jenga skyscraper that is international finance.

It doesn’t even have to compete “well”, it doesn’t have to be used in every contract, it just needs a big enough network to fuck up the hegemony and that won’t take much when you consider how on a knifes edge the current system is.

Reserve asset strategy has already changed - hard assets and commodities. Countries don’t want US paper any more.

Emperor Kuzco 1y ago

The Federal Reserve (globalist banking system) has a 40-50 year cycle to change up their currency and we are at that pivotal point. Every time they change up their currency they are at their weakest point because they have to force it upon the people in order to take the new route. Remember the "gold speculators" back in the 70's and why we needed to change to the petrodollar. During every currency change cycle they have to trade the current system for something of lesser value. Gold, petrodollar, paper, and now digital blips.

Bitcoin fucks their system hard and they can't stop it unless they go to war (control both sides like they have for centuries) and try and control the chaos.

Keep an eye on those that promote Bitcoin and peace.