Col on Nostr: Saudi Arabia has abandoned the petrodollar. The Saudis had agreed to exclusively use ...
Saudi Arabia has abandoned the petrodollar. The Saudis had agreed to exclusively use greenbacks to sell crude oil since 1974. Those greenbacks were used to stabilise the US economy and control inflation. Then, the US made up 36% of the world’s economy, this has fallen to 24% and will continue to fall. Saudi Arabia has now opted to join BRICs - a new alliance and are working on a new global payment system called mBridge with China, which is now its biggest oil partner.
Published at
2024-06-22 16:52:39Event JSON
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