Article

2024-06-14 International-UN-NGOs

Saudi leaves the petrodollar system: A global finance paradigm shift

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Posted by Gloluns Turkeyneck4904 2024-06-14 00:00|| || Front Page|| [11135 views ] Top
File under: Govt of Saudi Arabia

#1 A major blow to US economy.

Well, every cloud has a silver lining: if Saudi don't support USD, US shouldn't protect Saudia. Let Iran eat it.

Posted by Grom the Reflective 2024-06-14 06:05|| 2024-06-14 06:05|| Front Page Top

#2 This really isn't a big a deal as people are making it out to be. They are just dealing in other currencies now. The majority of business, i.e. 99% of it, will still be in the USD. Really, what other major power will use anything else? Most other currencies are shit, no one trusts the Yuan as it is the most manipulated currency in the world and there is no major supply of money other than the dollar.

Put away your smelling salts.

Posted by DarthVader 2024-06-14 06:19|| 2024-06-14 06:19|| Front Page Top

#3 I hope I'm around long enough to see how well this works for the world.

I expect a global normalization of regional currency value for goods and services is going to drive some ~~shitholes~~ independent countries, which have been sustained by a stable monetary system, to collapse.

Posted by Skidmark 2024-06-14 07:39|| 2024-06-14 07:39|| Front Page Top

#4 ...I'm with DV on this one, with the caveat that when SHTF, it will be easier for the Saudis to shift currency if they feel it's worth it.

Mike

Posted by MikeKozlowski 2024-06-14 09:25|| 2024-06-14 09:25|| Front Page Top

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