When the world divest itself of the USD, trillions will come flooding home and cause hyperinflation. This move by Russia has been planned for years, they believe now is the time. We are most vulnerable with our lack of manufacturing, debt, environmental laws limiting extraction of our natural resources. Oh and President Brandon was the final factor.
The whole world won't divest itself of Dollars. The big hit on the Dollar will occur when the Middle East oil producing countries start accepting other currencies besides the American Dollar as payment for their oil,...and it's going happen soon.
That request wasn't by the Saudis but China. China wants to ensure it can get oil should someone put sanctions upon it for invading Taiwan. They're lining up contingencies after an invasion to get oil by paying via yuan.
It's in both China and Saudi Arabia's interest to come up with a way to exercise trade that's independent of the American Dollar.
China doesn't want to lose it's ability to buy oil from Saudi Arabia,...Saudi Arabia doesn't want to lose its ability to sell oil to China.
It's just another example of the world losing faith in the U.S. Dollar. In this case, it's countries who no longer trust the people who control the U.S. Dollar. But the end result is the same.
Less demand for American Dollars,...less value for the American Dollar.
That all may be true, but I don't think Saudi wants to have to fend for themselves militarily either.
It is irrelevant what you think. What matters is the TRUTH.
