Destruction of the US dollar

Swordsmyth · Nov 5, 2023

Thailand To Move Away From The Dollar, Use Local Currencies

https://www.thefinancialtrends.com/...ve-away-from-the-dollar-use-local-currencies/

Swordsmyth · Nov 18, 2023

Venezuelan Foreign Minister Confirms De-Dollarization Plans With Russia

https://www.thefinancialtrends.com/...-confirms-de-dollarization-plans-with-russia/

Swordsmyth · Nov 21, 2023

Foreign Buyers Shun US Debt

https://www.thefinancialtrends.com/2023/11/20/foreign-buyers-shun-us-debt/

Yuan Overtakes Euro As Trade Funding Currency

https://www.thefinancialtrends.com/2023/11/20/yuan-overtakes-euro-as-trade-funding-currency/

Swordsmyth · Nov 22, 2023

Russia And China Nearly Complete De-Dollarization

https://www.thefinancialtrends.com/2023/11/21/russia-and-china-nearly-complete-de-dollarization/

Swordsmyth · Nov 26, 2023

UK Looks To Built Alternative To Visa And Mastercard

https://www.thefinancialtrends.com/2023/11/25/uk-looks-to-built-alternative-to-visa-and-mastercard/

Swordsmyth · Nov 29, 2023

The Next Year Will See $7.6 Trillion In Government Debt Mature

https://www.thefinancialtrends.com/...l-see-7-6-trillion-in-government-debt-mature/

Swordsmyth · Dec 8, 2023

Another Country Adopts Russia’s Mir Payment Card System

https://www.thefinancialtrends.com/...untry-adopts-russias-mir-payment-card-system/

devil21 · Dec 10, 2023

A lot of fanfare for Putin's arrival in UAE last week.

Not quite as much genuflection in Riyadh as there was for Xi but nighttime landing probably meant a subdued reception by comparison.

Saudis and UAE, among others, officially become active BRICS members on Jan 1 2024

acptulsa · Dec 10, 2023

devil21 said:
Saudis and UAE, among others, officially become active BRICS members on Jan 1 2024

That's the end of the petrodollar. They won't be able to keep gas prices down any more. Or any other prices. The demand for the FRN is about to evaporate.

devil21 · Dec 17, 2023

acptulsa said:
That's the end of the petrodollar. They won't be able to keep gas prices down any more. Or any other prices. The demand for the FRN is about to evaporate.

2 WEEKS!

funny but not so funny now.

pmbug · Dec 17, 2023

The Saudis are keeping their options open IMO. Joining the BRICS does not mean they immediately stop trading oil for dollars. It's definitely something to keep an eye on though.

Snowball · Dec 17, 2023

Swordsmyth said:
The Next Year Will See $7.6 Trillion In Government Debt Mature

https://www.thefinancialtrends.com/...l-see-7-6-trillion-in-government-debt-mature/

The US imports a steady 3 million thousand barrels of crude oil and oil products annually.
You get 42 gallons of gas per barrel. 240 Billion USD buys it at $80/bbl.
With 7 Trillion dollars you can pay up front for all oil imports to last over 29 years.

We live in the most inefficient, economically indefensible country in the history of the world.

devil21 · Dec 19, 2023

Bern said:
The Saudis are keeping their options open IMO. Joining the BRICS does not mean they immediately stop trading oil for dollars. It's definitely something to keep an eye on though.

My understanding is that the UAE already has but we know that the Saudi oil-dollar peg is basically the "official" petrodollar. The shipping disruptions in the Red Sea could spread across to the Strait of Hormuz. Media never mentions Houthis without included "Iran-backed" as a qualifier. If we start seeing reports of the Strait of Hormuz/Persian Gulf having similar issues to Red Sea shipping, it's conceivable that both are shut down, blockaded, embargoed, whatever term we want to use. The shutting of the Straits has long been rumored to be the SHTF moment of the petrodollar and the event that shuts it all down, at least in a reset narrative sense..

(sidenote: I sometimes wonder if the Saudi war on Yemen and the Houthis hasn't actually resulted in the "Houthis" becoming just another controlled opposition operation, repurposed for this exact time and scenario.).