Do you agree with BhikuMhatre ?
Saudi Arabia has refused to renew 50-yr Petrodollar agreement with the US.
So now, Saudi is free to sell oil in multiple currencies, incl Euros, Yen, Yuan, Bharatiya Rupee etc.
Major Blow to US!
Henry Kissinger in 1974 had brokered a 50 yr deal with Saudi that oil trade would be dominated by USD. Saudi was indirectly blackmailed by USA to sign this agreement, promising in return support against Iran & other Radical nations. Pls note that US Dollar then had lost its credibility after Nixon "temporarily" suspended the Gold Standard in August 1971. By making USD a Petrodollar, US could make it Global Reserve Currency allowing it raise indiscriminate debts to Peddle its economic growth.
Now....it neither has Gold Standard nor it is PetroDollar anymore, which will make it highly vulnerable making debts very costly & it won't even be able to print USD indiscriminately, as it has been doing till date.
US economy to be in grave danger in coming days. The cracks have started developing.
Saudi Arabia has refused to renew 50-yr Petrodollar agreement with the US.
So now, Saudi is free to sell oil in multiple currencies, incl Euros, Yen, Yuan, Bharatiya Rupee etc.
Major Blow to US!
Henry Kissinger in 1974 had brokered a 50 yr deal with Saudi that oil trade would be dominated by USD. Saudi was indirectly blackmailed by USA to sign this agreement, promising in return support against Iran & other Radical nations. Pls note that US Dollar then had lost its credibility after Nixon "temporarily" suspended the Gold Standard in August 1971. By making USD a Petrodollar, US could make it Global Reserve Currency allowing it raise indiscriminate debts to Peddle its economic growth.
Now....it neither has Gold Standard nor it is PetroDollar anymore, which will make it highly vulnerable making debts very costly & it won't even be able to print USD indiscriminately, as it has been doing till date.
US economy to be in grave danger in coming days. The cracks have started developing.
Do you agree with BhikuMhatre ?
Saudi Arabia has refused to renew 50-yr Petrodollar agreement with the US.
So now, Saudi is free to sell oil in multiple currencies, incl Euros, Yen, Yuan, Bharatiya Rupee etc.
Major Blow to US!
Henry Kissinger in 1974 had brokered a 50 yr deal with Saudi that oil trade would be dominated by USD. Saudi was indirectly blackmailed by USA to sign this agreement, promising in return support against Iran & other Radical nations. Pls note that US Dollar then had lost its credibility after Nixon "temporarily" suspended the Gold Standard in August 1971. By making USD a Petrodollar, US could make it Global Reserve Currency allowing it raise indiscriminate debts to Peddle its economic growth.
Now....it neither has Gold Standard nor it is PetroDollar anymore, which will make it highly vulnerable making debts very costly & it won't even be able to print USD indiscriminately, as it has been doing till date.
US economy to be in grave danger in coming days. The cracks have started developing.
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