The Saudis are considering trading oil for Chinese Yuan.
JUST IN – Saudi Arabia considers accepting #Yuan instead of #Dollars for Chinese oil sales, the WSJ reports.
— Disclose.tv (@disclosetv) March 15, 2022
Bloomberg and other media outlets are saying this is not a big deal.
Currency strategists say Saudi Arabia appears to be sending a political message with reports that it will consider accepting yuan payments for oil sold to China, but it changes little for the dollar https://t.co/dukRslZgNq
— Bloomberg (@business) March 15, 2022
This is a lie. If oil producers start trading oil for the Yuan in significant numbers, it will be a very big deal.
The dollar has maintained its status as the world’s reserve currency because countries have been forced to use it to buy oil. This was enforced via American military power. The world no longer fears American military power after the debacle that occurred in Afghanistan. This is why we see this type of thing happening.
America is seen as a declining power. If oil starts getting traded in non-dollar currencies by any significant amount, it will be a death knell for the dollar.
