Saudi Arabia is not renewing the 50-year-old petrodollar deal they struck with the United States back in the 1970s.
Here are some posts about this highly significant story.
BREAKING:
Saudi Arabia will stop using the US dollar for oil sales and will not renew the 50-year petro-dollar agreement with the U.S. pic.twitter.com/WrijIyjUAI
— Globe Eye News (@GlobeEyeNews) June 13, 2024
As of June 9th, 2024, Saudi Arabia has decline to renew the 50 year Petrodollar agreement.
This agreement provided security and weapons to Saudi Arabia in return for Saudi Arabia pricing oil in US Dollars, which helped maintain the US dollar as the world reserve currency.โฆ pic.twitter.com/SASNHr5VfV
— Wall Street Silver (@WallStreetSilv) June 13, 2024
โก๏ธBREAKING
America just lost dollarโs supremacy in global trade
Saudi Arabia has decided not to sell oil in US dollar anymore
Riyadh didn't renew the 50-year petro-dollar deal with the United States which expired on Sunday pic.twitter.com/9KxNRHNUL9
— Iran Observer (@IranObserver0) June 13, 2024
๐ฆ๐ฎ๐๐ฑ๐ถ ๐๐ฟ๐ฎ๐ฏ๐ถ๐ฎ ๐๐ถ๐๐ฐ๐ต๐ฒ๐ ๐จ๐ฆ ๐๐ผ๐น๐น๐ฎ๐ฟ
Saudi Arabia will not be renewing the 50-year petrodollar agreement with the United States.
Instead, they will be selling oil in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan.
This should beโฆ pic.twitter.com/SRRgKHyC3f
— Shadow of Ezra (@ShadowofEzra) June 12, 2024
This is hugely significant because the petrodollar deal helped cement the US Dollar as the world’s reserve currency after it was fully taken off the gold standard. Countries were basically forced via the threat of American military force to use the US Dollar if they wanted to buy oil on the international markets.
Now that nobody fears the power of the US military following a string of embarrassments in Afghanistan, the Ukraine and elsewhere, we are seeing countries move away from the US Dollar. That’s what BRICS is largely about. The Saudis not renewing this petrodollar deal is another indicator showing where things are heading.
Point blank, the days of the US Dollar being the world’s reserve currency are ending. Prepare yourself accordingly.
