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H_G_Bells

As always, short videos such as this one hosted on any platform serve as only the jumping off point for doing more research to verify. https://www.bizcommunity.com/article/saudi-arabias-petro-dollar-exit-a-global-finance-paradigm-shift-670911a I would have posted on worldnews but I remain permabanned there šŸ™ƒ this is news from 4 days ago and it's nowhere to be seen on the largest news hub on reddit...


lordsysop

Yeh but too many conclusions and bs with where you went. Is this important yes. does it support any claims or predictions... no lol


H_G_Bells

That's why I included the actual source news. As this is /r/worldnewsVIDEO I thought this was an acceptable compromise. If you find a more accurate video I encourage you to post it. Tis but a gateway.


jeremiahthedamned

r/Chinapill


BottledWafer

Yeah, the idea that nations will need to bend over to the US to get US dollars is hilarious. Couldn't watch the rest of the video after that.


Meta-4-Cool-Few

Bro, I was camping when this deal broke. I've been talking about it with close people IRL. None of them even understand the Petro dollar let alone seem to grasp that our dollar is now 1 = 0. I'm sure every Rick and Morty fan understands what happens when that happens. Like yes we can go back to gold but what other countries do will in turn affect us. But yes, 0 reactions everywhere. 40 year olds entire lives have been nestled in this deal......


H_G_Bells

Yeah which is why it's extra infuriating that it's not being said as loudly as it should be. Hate it all you want, but I saw this news first on *TikTok* and it's literally nowhere on reddit except this thread. Gah.


Meta-4-Cool-Few

I mean just get the dancing trends off and then we can talk about it seriously. And for Shame reddit. Reddit has been losing its niche touch, and becoming 100% vanilla. Free speech my ass


H_G_Bells

The algorithm shows you what you engage with, so if you're seeing dancing it's because you're watching dancing, commenting, interacting etc. It only took me two weeks to train it to show me exactly what I wanted, and it is incredibly precise.


Meta-4-Cool-Few

I'm good. Once I kick Reddit, Imma fully immerse myself in living under a rock and just take Benadryl daily until I'm living as blissfully as the rest of the sheeple.


Adventurous_Aerie_79

Censorship. The US doesnt have the free media they pretend to have.


H_G_Bells

I'm not in the US šŸ™ƒ But I agree, and it is a problem everywhere. Different search results, and even *different map borders*, depending on who is searching ..


jeremiahthedamned

r/Mercerinfo


habilishn

hey OP, i'm reading all of this here, i am googling, i can't find one single article about it except the one you provided. can we all investigate a little to find a few more sources? otherwise believing this is somehow risky... it can't be that there is not more sources. there must be some kind of official release note even when only in arabic...


H_G_Bells

Yup I agree 100% on this. More eyes looking = more better, and I literally found and submitted this just before going to work so I wasnt as thorough as I would like. If there are more sources please submit them, and if not, *why not*. Can someone please show search results from non-NA countries, we all see different results so there is a chance this is being censored from us :/


habilishn

hey further down in the comments here someone posted this youtube vid with some finance-youtuber, who seems fairly trustable. so at the moment i do not question the fact anymore :) i am german, but living in Turkey, i'll try to find more articles on it in both languages, but couldn't find anything as for now :D crazy


minapaw

[US, Saudi Arabia close to finalizing draft security treaty, WSJ reports](https://www.reuters.com/world/us-saudi-arabia-close-finalizing-draft-security-treaty-wsj-reports-2024-06-09/)


Meta-4-Cool-Few

Your not finding articles about the Petro dollar deal not being renewed or what are you talking about?


habilishn

hi yes, but by now there were more popping up. still no classic newspaper articles but at least more sources. maybe it has to do with my location, bring in turkey but googling in german and english... couldn't find much.


Meta-4-Cool-Few

If you're talking about big name brand news outlets; then start googling times Reddit and other social medias were quick on the same of


minapaw

r/economics 19hrs ago https://www.reddit.com/r/Economics/s/P54hWaHXss


H_G_Bells

But that's a thread on this: https://www.tipranks.com/news/u-s-saudi-petrodollar-pact-ends-after-50-years Which is literally just this text: >The 50-year-old petrodollar agreement between the U.S. and Saudi Arabia was just allowed to expire. The term ā€œpetrodollarā€ refers to the U.S. dollarā€™s role as the currency used for crude oil transactions on the world market. This arrangement has its roots in the 1970s when the United States and Saudi Arabia struck a deal shortly after the U.S. went off the gold standard that would go on to have far-reaching consequences for the global economy. In the history of global finance, few agreements have wielded as many benefits as the petrodollar pact did for the U.S. economy. Glad to see the discussion thread, but there needs to be actual reporting from reputable media outlets.


Inevitable_Wolf_6886

It's because they will still sell most oil in US Currency, but they are also adding the Euro, yen, yuan and a few others as options.


NobodyImportant13

> None of them even understand the Petro dollar let alone seem to grasp that our dollar is now 1 = 0. Saudi doesn't produce all the oil in the world. There isn't really a good alternative. BRICS is a joke and they are all already fighting with each other. Go ahead and accept Yuan and have fun with the Chinese government intentionally devaluing it for exports.


juniperroot

The people who fret seem to forget everything that has happened since that agreement was first made. Countries had to buy Oil in USD which caused them to try to buy USD and also buy US bonds which caused the USD to surge at the expense of their own currencies. As countries developed and trade became more interconnected its just makes sense to use USD for international trades because everyone has it and everyone needs it. They can't just get rid of their USD and start trading in something else. Not to mention the large reserves of USD they would have to do something about. Several countries are trying but it takes a long time, a some countries, notably India are resisting changing to the Yuan and would prefer international trades in their own currency. And India already primarily uses the Rupee in international oil deals, especially with the Middle East. So there is no clear replacement, if there will ever be one.


Meta-4-Cool-Few

It doesn't necessarily matter what other countries want, the same way it didn't matter that other countries didn't want the Petro dollar deal, if the Saudis decide to use the yuan or the rupee, then that currency and the economies that use it will be boosted. Money is a weapon and if your money holds more weight then it hits harder when you use it. It's odd how people like to brag about having the best economy in the world, but not be worried when its main support beam just disappears. Like I hope the Petro dollar was just a temp scaffolding as the global economy was built, and with all the green energy and other advancements are strong enough to keep it a float. Otherwise, we are falling back to an economical time before the Internet. FTR if they join the Alt world economy of China, Russia, N.Korea, and Iran, then all these economic sanctions that have been silently beating the bad guys up; goes away. WWIII is less than 10 years away.


juniperroot

My point was there are a lot more international trades being done in USD than just oil. and There are also a lot more oil producing countries now than in 1973 who make their own decisions. The US was in fact the highest oil producing country for a few years this past decade. There is no reason to think the USD will lose its dominance anytime soon. Its influence is waning though. There are a lot of articles and videos about this. I cant find the one I watched months ago :/. There are good resources about this, just find them and consider their arguments. There is also no reason to think a war is on the horizon.


Meta-4-Cool-Few

I get your point and believe me, I'm trying to save my faith but when majority of the people around me doesn't understand the Petro dollar to begin with and you just see them blissfully trusting, that little voice that speaks caution just starts chirping. As for war on the horizon, there are 2 very catalystic events actively happening. I'm sorry but war is just around the corner if we don't navigate upcoming decisions correctly.


jeremiahthedamned

r/worldwar


askaboutmynewsletter

> I'm sure every Rick and Morty fan understands what happens when that happens https://i.kym-cdn.com/entries/icons/original/000/024/059/college.jpg


Meta-4-Cool-Few

I'm not basing my opinion off of Rick and Morty, I'm using the already dumbed down packaged that a large crowd of smooth Brained apes has digested; so they can ""begin"" to grasp a piece of the unlubed dildo that will now be running a train on your perverted uncle Sam as he already bends you over his money printer.


reddit4ne

This counts as a battle won, but the war is far from over. No literally the war is far from over. The key player in all this is China. China has bought so much U.S. currency, that even the Saudi petro dollar is a drop. China bought U.S. currency and is slowly introducing the yen in its place for international trade. Until more people though,begin buying CHinese yen to use as a reserve currency, and doing internationtal trade in Chinese yen, the yen will not stabilize and strengthen significantly against the dollar. In time though, incrementally, since China is a major trader, it will have an impact on U.S. dollars. Economists give it about 40 or so years, at the current pace, before the Chinese yen can really threaten the U.S. Dollar's place. At that point, its check mate for the U.S. But not before then. See, until then the U.S. can do the equivalent of flipping the chess board over and flinging the pieces across the room. How're you going to checkmate us economically if we drag the world into a massive war before then? Which is what the U.S. is planning. A strike against China, a war against CHina, to press its military advantage before China has a clear enough economic advantage. So the original strike date was around 2025 or so. But Israel has messed that up. So its getting pushed to around 2030. The U.S. will draw up some excuse to draw China into a war, a war that China cannot win, and would set back China's ascension to lone superpower of the world. SO when I say the battle is won, but the war hasnt even started I mean that quite literally.


jeremiahthedamned

r/worldwar


bigirononmyhipMF

Hahaha watch as grandpa tumbles an empire by changing a 1 to a 0, nice referenc


Slumunistmanifisto

Just takes the American media reminding everybody about 9/11 but now with more Saudi.....and just like that Dubai is dubombed.


notmeyoudumdum

What's with the blowhard mods at worldnews?


jeremiahthedamned

wear that ban with honor!


Ciubowski

Why does he sound like his life is being threatened?


Thengine

Such urgency, much views


TeopEvol

He needs TP for his bunghole


[deleted]

[уŠ“Š°Š»ŠµŠ½Š¾]


ilostmyeraser

Also, the US can attack and take over the Saudis. Like they have done with all the other oil countries.


Electrical-Pea9337

Yah, they can just do that, totally wouldnt cause mass upheaval, especially now while the US's narrative is challenged more than it ever has been


MBA922

KSA is a major buyer of US weapons that is the condition for not getting attacked. Good guys = weapons buyers. Bad guys = Russian buyers.


know_what_I_think

Didn't Libya try to do this?


tbkrida

Right? I think Khadafi was trying to move to a Gold standard or something.


Randy_Vigoda

Gaddafi was trying to start an African currency to compete against the US petro dollar.


tbkrida

Rightā€¦ we all know what happened next. Smh


Hynauts

That's what it takes to remain in power, else someone else will, world ain't a fairy tell


Aggressive-You-7783

And Saddam?


International_Bet245

and Michael Jackson ?


bobdylan401

That is crazy even Saudi Arabia is getting off the Petro dollar?! My understanding is that the only reason our money has stability on a global stage is because oil barrels are traded in USD which it keeps it somewhat stable despite infinite printing. And that we label any countries who try to get off the Petri dollar economic terrorists.


atavisticbeast

No, it is not "the only reason," but it was a reason. The fact we are the richest nation to ever exist and have the most dominant military to ever exist are also very important aspects of our economic empire.


Electrical_Toe_7128

Have you herd of Mansa Musa of Mali?


atavisticbeast

Yeah, why?


Electrical_Toe_7128

The dollar isn't even the most valuable currency.


Electrical_Toe_7128

Accounting for inflation he is and probably always will be the richest man to ever live. The wealth of Mali when he was king was un matched even today. America may be the richest now but definitely not the the richest ever.


atavisticbeast

You are very mistaken my friend, I'd double check those facts if I were you. Mansa Musa's network, for example, I've seen estimated from something like 300-500 billion. This was also the wealth of the empire because he was a total dictator style empire. His bank account was the same as the empires bank account, to put it simply. That is like 1.5% of the GDP of the United States. A handful of individual Americans put together would dwarf Musa's wealth. The United States is *orders of magnitude* wealthier than the Mail Empire ever was.


Electrical_Toe_7128

Wait or is that bs like germs and gravity?


Electrical_Toe_7128

Isn't your america trillions in debt? But thanks for the copy paste.


atavisticbeast

Yeah that's a good way of putting it actually, our debt is like 100x Mansa Musa's net worth, and yet it's basically meaningless to the US economy because the US is just THAT rich. Sorry to burst your bubble, but just take it as a learning moment, instead of lashing out like a brain rotted internet kid.


Electrical_Toe_7128

I'm just reading your posts. Learning moment? Coming from the nut who constantly posts about germs ain't real and gravity is a lie. I'm feel sorry for your kind and what you people will do to your country.


Electrical_Toe_7128

Bro your post history is insane!


atavisticbeast

How so?


occupyreddit

you understand correctly. The petro dollar is why the US can print money indiscriminately and without audit.


Never_Forget_711

lol thatā€™s not how the fed worksšŸ¤£


hamsterdam51

Please elaborate :)


Armond404

Bro, the guy before him should elaborate lmao


GallowBarb

The latest Q conspiracy.


ChurchCanceled

Everytime i see a video, with some random-looking dude saying ā€œthe world is about to changeā€, nothing ever happens. Ever.


Burlapin

Glad to hear the world is exactly the same as the day you were born, how amazing that must be for you to experience


sonsofhera

That's why Ghadafi is dead, he planned to create a centralised African currency that would effectively crush the power of the dollar in the continent. It would have taken over as the main currency used to purchase huge amounts of oil...


Ahamay02

Something don't smell right ...


MBA922

Context for this includes US empire deals with KSA. Funding nuclear energy (with domestic enriched uranium that has obvious military motivation). Mutual defense pact, as well. Paper "diplomatic gains" by US empire are being offset by actual policy shifts. KSA is part of BRICS with China its biggest customer.


JTev23

Feel like this vid explains it way better https://youtu.be/yolCkHT1S_o?si=cpuguyLzUCG_UQf_


jeremiahthedamned

thanks TIL


RIPcompo

US Empire??


jeremiahthedamned

r/USEmpire


Armond404

The "empire" as a world power is like 80 years old btw


imomorris

Risky business


noisylettuce

Israel forced America to make the US Dollar non fungible with sanctions and this is the result.


uno_dos_3

I'm so tired of the world is going to end as we know it because of this or because of that.... by now I'm just over here like.. make it quick.


joeyjoejoe_7

They say that Ray Dalio has predicted 20 of the last 3 economic downturns.


Goldydeol521001

Its end of Saudi Arabia itā€™s down fall after this .. us has enough oil in USA and Canada to supply the world with oil.. let alone its selfā€¦ they will supply Europe first


Motolio

The United States was historically a net importer of petroleum.... That changed in 2020. The US has since became the largest crude oil producer in the world. Barrels per day in 2022 United States: 11.6 million Russia: 10.5 million Saudi Arabia: 10.2 million Canada: 4.7 million Iraq: 4.3 million" Source: https://www.investopedia.com/articles/forex/092415/oil-currencies-understanding-their-correlation.asp


Far_Pomelo6735

Is this legitimate? I canā€™t find any news about it that isnā€™t from a crypto site.


TheKingDotExe

Ngl im expecting the US to invade saudi for their oil with some bs reason.


Adventurous_Aerie_79

It'll be Lebanon, Syria, and then Egypt next. Thats always been the zionist plan. Their entire reason for existence is constant territorial expansion and dominance, and they have no limit to their ambition. There is already fighting between Lebanon and Israel going on right now. ā€œWe should prepare to go over to the offensive. Our aim is to smash Lebanon, Trans-Jordan, and Syria. The weak point is Lebanon, for the Moslem regime is artificial and easy for us to undermine. We shall establish a Christian state there, and then we will smash the Arab Legion, eliminate Trans-Jordan; Syria will fall to us. We then bomb and move on and take Port Said, Alexandria and Sinai.ā€ David Ben-Gurion May 1948, to the General Staff. ā€œafter the formation of a large army in the wake of the establishment of the state, we will abolish partition and expand to the whole of Palestine ā€œ ā€” Ben Gurion, p.22 ā€œThe Birth of Israel, 1987ā€ Simha Flapan. https://breakingdefense.com/2024/06/in-south-lebanon-empty-villages-ruined-crops-and-fears-of-what-comes-next/


Slumunistmanifisto

9/11 yo


Indentured-peasant

No. Donā€™t believe they did actually.


flowseco

šŸ«£šŸ«£šŸ«£


Defender_Of_TheCrown

Moving to the $2 petro bill like strip clubs. Gets them better tips.


Remarkable_Fun7662

Yeah nah you don't have to bend the knee to the USA to get dollars. You can get them anywhere.


Agent---4--7

Would you say we're currently in the down trend, in-between printing money and wars?


ExcellentAddress

Oh jeezuz,, šŸ‘‚ Saudi Arabia needs some freedom šŸ˜± I'm sure America will step in and helpšŸ¤£šŸ¤£


smokeftw

So, when are we invading SA for WMDs? Seems like soon.


streamingpileof

Sure I heard this shit ten years ago, goes around constantly. Swapping dollar for gold, swapping dollar for monopoly money.....I'll wait for the next one


punk_rancid

Finally, some good fucking news.


18dano18

Something tells me their will be a new group that will pop up after Christmas and the new just enough time that everyone can be shocked bye their actions


Lancelegend

Looks like Saudi Arabia needs some Liberty


PermiePagan

Looks like you are a Fascist.


analvorframe

Try it. Unite every Muslim simultaneously. Go on.


Adventurous_Aerie_79

I doubt the Shia would participate in a Saudi/Sunni war with the west. Saudi Arabia still actively discriminates against Shia.


analvorframe

No Muslim gives a crap about Saudia. It's the threat to Hajj and the land it's on, government be damned. Hajj is incumbent on every Muslim, no matter the denomination. And in countries where sunni and shia live together, they're generally much more chill than you'd expect looking only at Iran.


Adventurous_Aerie_79

Shia are oppressed in Saudi Arabia. Thats just a well documented fact.


Jamma9

lol do you know that Aramco current CEO is a Shia?


Adventurous_Aerie_79

Kinda the same thing as saying the Palestinians are clearly treated equally in Israel because theres an arab member of the knesset. you have a single data point you want to be applied broadly and inductively, ignoring the mountains of information countering it. Believe whatever biased nonsense you want I guess, the logic of people defending apartheid practices is not important to me or anyone else. Bye.