The petrodollar is a zombie unaware that it is dead
Tom KirkmanIndependent Project Manager
The petrodollar has become a zombie, wandering around and unaware that it is dead.
Wish I was wrong. Really.
U.S. Mainstream Media is also a clueless zombie, wandering around and trying to eat the brains of the living and thinking.
Again, wish I was wrong.
● Please do feel free to revisit this post in a couple months and prove me resoundingly wrong. I hope you will be right.
》Just my opinion; as always, you are free to disagree.
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“… Saudi Arabia’s desire to join BRICS and the SCO, which are the most influential multipolar organizations in the world right now, could turn this scenario into a reality a lot sooner than even the most optimistic observers might have expected.
All of this in and of itself will herald a revolution in geo-economic affairs, and that’s even without Saudi Arabia having yet to throw its full support behind the “petroyuan”.
● Once this major oil exporter begins to sell its resources in non-dollar-denominated currencies like China’s, then the petrodollar upon which the economic-financial aspect of the US’ unipolar hegemony is predicated will be dealt a deathblow.
… Considering this newfound financial context, there’s no doubt that upcoming Saudi moves in support of the petroyuan that are taken in coordination with Iran and Russia would catalyze the next natural phase of de-dollarization.
Russian-GCC real-sector trade that’ll be carried out via Iran across the NSTC will be conducted in national currencies and thus prepare those three for the moment when they finally decide to deal a deathblow to the petrodollar.
● All in all, it’s not hyperbole to declare that the dollar’s prior dominance is done for as a result of the Iranian-Saudi rapprochement.
That Beijing-brokered deal makes this outcome an inevitability unless some subversive black swan event takes place such as a US-backed coup against MBS, though that’s unlikely to happen after he successfully consolidated his power in late 2017.
With this in mind, it can confidently be declared that that last week’s development will be seen in hindsight as a game-changer.”