Saudi Arabia ends petrodollar agreement, what will replace USD?

[electronicash]

Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, as per media reports.

This agreement, originally signed on June 8, 1974, had been a key part of US global economic influence.
The deal set up joint commissions for economic cooperation and Saudi Arabia's military needs. Back then, American officials hoped it would encourage Saudi Arabia to produce more oil and strengthen economic ties with Arab countries.

i hardly see large media reporting this but this is supposedly one of the biggest news in the entire world if one should understand the result of this.
the agreement was that in exchange for military protection from their warring neighbors, the House of Saud needs protection which the US will provide them weapons but the agreement is that the Saudis has to price their oil in USD. and as a result off this, the USD becomes stronger and US economy becomes the biggest as the Saudis also buys the US treasury bonds.

what will replace the USD after the agreement is not renewed is more than likely digital Yuan. where is the world riches is going is where it had once before.
but of course NOT. since Saudi actually joined the mBridge payment system thru the combined effort of developers from several countries joining BRICS, Saudis will definitely accept payment only in Saudi riyal.

if right now, Saudi is the only country with Trillionaires, i guess they will be the riches in the world in the future considering we are still going to be using gas and oil.

https://kitco.com/news/article/2024-06-13/saudi-arabia-ends-petrodollar-agreement-what-it-means-usd-bitcoin-and-gold

[Stompix]

Saudis will definitely accept payment only in Saudi riyal.

You do know the Saudi riyal is pegged to the USD at a fixed rate of 3.75 SR to 1 USD, right?
So, using the royal or the dollar is the same, that's why nobody really cares about that, in order to keep the peg they need reserves in $, getting paid in shitty fiat currency that can't be exchanged is a no, and even if they do accept yuans they will use that again for conversions!

[Sim_card]

Saudis will definitely accept payment only in Saudi riyal.

You do know the Saudi riyal is pegged to the USD at a fixed rate of 3.75 SR to 1 USD, right?
So, using the royal or the dollar is the same, that's why nobody really cares about that, in order to keep the peg they need reserves in $, getting paid in shitty fiat currency that can't be exchanged is a no, and even if they do accept yuans they will use that again for conversions!

The US government have already played a smart one on the Suadis by pegging Riyal to USD back days because they saw this coming. No matter what currency Suadi used, it will not affect USD.

[0t3p0t]

Well using it's own fiat currency would be a great counter measure against a possible sanction that is why they do that way and many countries are replicating such action as they might see it as an effective defense mechanism for a country's economy. Some countries even plan to create CBDC but I don't know how far they will be on this you know modern way of economic wars.

[Gurujebs]

Well using it's own fiat currency would be a great counter measure against a possible sanction that is why they do that way and many countries are replicating such action as they might see it as an effective defense mechanism for a country's economy. Some countries even plan to create CBDC but I don't know how far they will be on this you know modern way of economic wars.

As much as many people would like to hate US, there is demand from them because they are always 2 steps ahead of any other countries. If this Is actually coming from Saudi Arabia, there must be signals before this their action triggered and I bet they would have prepared so much for this and not as a surprise for them and even Saudi Arabia will have something to lose from displacing from this agreements.

[electronicash]

Saudis will definitely accept payment only in Saudi riyal.

You do know the Saudi riyal is pegged to the USD at a fixed rate of 3.75 SR to 1 USD, right?
So, using the royal or the dollar is the same, that's why nobody really cares about that, in order to keep the peg they need reserves in $, getting paid in shitty fiat currency that can't be exchanged is a no, and even if they do accept yuans they will use that again for conversions!

and you think them using the riyal will still have USD demand?



Jimmy Dore just reported this minutes ago. they were also amazed by what the pariah did 

its not happening abruptly though so ye i guess we still can take advantage of using stablecoin. i'm sure in 10 years there will still be 2 bullruns if it ever happens.

[Stompix]

Saudis will definitely accept payment only in Saudi riyal.

You do know the Saudi riyal is pegged to the USD at a fixed rate of 3.75 SR to 1 USD, right?
So, using the royal or the dollar is the same, that's why nobody really cares about that, in order to keep the peg they need reserves in $, getting paid in shitty fiat currency that can't be exchanged is a no, and even if they do accept yuans they will use that again for conversions!

and you think them using the riyal will still have USD demand?

You don't understand what a peg is, right?
For somebody to keep a currency at a peg you need t have the reserve in the said currency available, so if I sell you 100 riyals you know for sure I have $30 backing their value, otherwise you would not accept my currency and chose some other shitcoin like the Russian ruble, the Iranian rial, the rupee...you know all too jokes BRICS currencies.

Second thing, which again proves you don't know how settlements work..
If a barrel of oil is $100 and Saudi Arabia sells it for 350 riyals, it still sells them to the same USD value, if they drop the price to 300 they drop the price in USD also, their coin not being independent it means everything will still be priced in $.

Want proof of this? good!
What's the price of Bitcoin in riyals? I can already see your pikachu face since you're obviously going to use the $ to come up with that!
And this is the reason nobody cared about it!

[electronicash]

do you think the Saudis or the BRICS care of that pegging?

its always hard to accept the truth. people understand it though.  even the boxers who lost a fight sometimes wake up in the morning still thinks they are a champ. still hanging to what they know while the rest of the world already focused on the new champ.

[Stompix]

do you think the Saudis or the BRICS care of that pegging?

As I said before, you have no clue what the peg is and how it works!

Of course, Saudi Arabia cares for it because it's the one that has established, basically, they guarantee for the entire world that no matter where you go and what change you try to make the price of the riyal will be fixed in value with the dollar by a 3.5 ratio. And it is the same for the Arab Emirates Dirham, pegged to fix value to the USD!

That's the reason why only meme lovers are amazed by this, in reality, it changes nothing!

[electronicash]

as

do you think the Saudis or the BRICS care of that pegging?

As I said before, you have no clue what the peg is and how it works!

Of course, Saudi Arabia cares for it because it's the one that has established, basically, they guarantee for the entire world that no matter where you go and what change you try to make the price of the riyal will be fixed in value with the dollar by a 3.5 ratio. And it is the same for the Arab Emirates Dirham, pegged to fix value to the USD!

That's the reason why only meme lovers are amazed by this, in reality, it changes nothing!

as if pegging Riyal to USD makes the US richer. lol there is the need to re-read where that pegging is defined.
if the country hires someone like Jared Bernstein who can't  explain how the federal government prints money and then borrows in the currency it prints.  its going to be a serious problem. 

whatever Jared understands,  don't learn from him.

https://x.com/DavidShares/status/1786358684202791372
Jared Bernstein, Chair of the Council of Economic Advisors to President Biden.

[dkbit98]

There is no reason why they should keep using dollar that became worthless papers and numbers on screen, but it's just an illusion that there is any other fiat currency that is better as replacement.
All of them are backed by nothing, so maybe they should consider replacing dollar with Bitcoin that can be inflated by any government.
Big changes are ahead of in next few months with money and everything else.

[DrBeer]

Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, as per media reports.

This agreement, originally signed on June 8, 1974, had been a key part of US global economic influence.
The deal set up joint commissions for economic cooperation and Saudi Arabia's military needs. Back then, American officials hoped it would encourage Saudi Arabia to produce more oil and strengthen economic ties with Arab countries.

i hardly see large media reporting this but this is supposedly one of the biggest news in the entire world if one should understand the result of this.
the agreement was that in exchange for military protection from their warring neighbors, the House of Saud needs protection which the US will provide them weapons but the agreement is that the Saudis has to price their oil in USD. and as a result off this, the USD becomes stronger and US economy becomes the biggest as the Saudis also buys the US treasury bonds.

what will replace the USD after the agreement is not renewed is more than likely digital Yuan. where is the world riches is going is where it had once before.
but of course NOT. since Saudi actually joined the mBridge payment system thru the combined effort of developers from several countries joining BRICS, Saudis will definitely accept payment only in Saudi riyal.

if right now, Saudi is the only country with Trillionaires, i guess they will be the riches in the world in the future considering we are still going to be using gas and oil.

https://kitco.com/news/article/2024-06-13/saudi-arabia-ends-petrodollar-agreement-what-it-means-usd-bitcoin-and-gold

This is fake news, which is thrown in through small news channels. Do you think that an event of this magnitude has been ignored by the world's major media, economic publications and TV?
If you search for this news by keywords, all carriers/rebroadcasters of this "news" are either insignificant regional/private "media" or Russian channels or Russian channels   But as the old proverb says "no matter how much you say halva, it doesn't get sweeter in your mouth"

[electronicash]

Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, as per media reports.

This agreement, originally signed on June 8, 1974, had been a key part of US global economic influence.
The deal set up joint commissions for economic cooperation and Saudi Arabia's military needs. Back then, American officials hoped it would encourage Saudi Arabia to produce more oil and strengthen economic ties with Arab countries.

i hardly see large media reporting this but this is supposedly one of the biggest news in the entire world if one should understand the result of this.
the agreement was that in exchange for military protection from their warring neighbors, the House of Saud needs protection which the US will provide them weapons but the agreement is that the Saudis has to price their oil in USD. and as a result off this, the USD becomes stronger and US economy becomes the biggest as the Saudis also buys the US treasury bonds.

what will replace the USD after the agreement is not renewed is more than likely digital Yuan. where is the world riches is going is where it had once before.
but of course NOT. since Saudi actually joined the mBridge payment system thru the combined effort of developers from several countries joining BRICS, Saudis will definitely accept payment only in Saudi riyal.

if right now, Saudi is the only country with Trillionaires, i guess they will be the riches in the world in the future considering we are still going to be using gas and oil.

https://kitco.com/news/article/2024-06-13/saudi-arabia-ends-petrodollar-agreement-what-it-means-usd-bitcoin-and-gold

This is fake news, which is thrown in through small news channels. Do you think that an event of this magnitude has been ignored by the world's major media, economic publications and TV?
If you search for this news by keywords, all carriers/rebroadcasters of this "news" are either insignificant regional/private "media" or Russian channels or Russian channels   But as the old proverb says "no matter how much you say halva, it doesn't get sweeter in your mouth"

Karine? is that you?

fake news lol that's what Karine Jean-Pierre said to the press when asked about the dementia of Biden. she said fake news and the video circulating while Biden freezes on stage and mumble something. she also said those videos are fake.

i don't know if search those keywords. but the ones i'm just watching are news on major channels on different countries. they are all there even the Saudi news.

[DrBeer]

Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, as per media reports.

This agreement, originally signed on June 8, 1974, had been a key part of US global economic influence.
The deal set up joint commissions for economic cooperation and Saudi Arabia's military needs. Back then, American officials hoped it would encourage Saudi Arabia to produce more oil and strengthen economic ties with Arab countries.

i hardly see large media reporting this but this is supposedly one of the biggest news in the entire world if one should understand the result of this.
the agreement was that in exchange for military protection from their warring neighbors, the House of Saud needs protection which the US will provide them weapons but the agreement is that the Saudis has to price their oil in USD. and as a result off this, the USD becomes stronger and US economy becomes the biggest as the Saudis also buys the US treasury bonds.

what will replace the USD after the agreement is not renewed is more than likely digital Yuan. where is the world riches is going is where it had once before.
but of course NOT. since Saudi actually joined the mBridge payment system thru the combined effort of developers from several countries joining BRICS, Saudis will definitely accept payment only in Saudi riyal.

if right now, Saudi is the only country with Trillionaires, i guess they will be the riches in the world in the future considering we are still going to be using gas and oil.

https://kitco.com/news/article/2024-06-13/saudi-arabia-ends-petrodollar-agreement-what-it-means-usd-bitcoin-and-gold

This is fake news, which is thrown in through small news channels. Do you think that an event of this magnitude has been ignored by the world's major media, economic publications and TV?
If you search for this news by keywords, all carriers/rebroadcasters of this "news" are either insignificant regional/private "media" or Russian channels or Russian channels   But as the old proverb says "no matter how much you say halva, it doesn't get sweeter in your mouth"

Karine? is that you?

fake news lol that's what Karine Jean-Pierre said to the press when asked about the dementia of Biden. she said fake news and the video circulating while Biden freezes on stage and mumble something. she also said those videos are fake.

i don't know if search those keywords. but the ones i'm just watching are news on major channels on different countries. they are all there even the Saudi news.

I apologize, perhaps I will hurt you - but who is Karine in your destiny that you are trying so hard to "see" him in the answers of a completely different person !??

But from phantom mental memories, back to the topic
The fact that you read somewhere and something is commendable. The only question is the evaluation of the information. In order to reduce our conversation not to fantasies and phantom Karine, 2 questions, answers to which I am waiting from you
1. Link to the official Saudi resource about such an event
2. refutation of the fact that the Saudi riyal is pegged to the US dollar at a fixed rate.

I expect from you links to reliable resources, not "writing on the fence", dear fan of phantom Karine