Saudi Arabia’s Petro-Dollar Exit: A Global Finance Paradigm Shift

The crucial decision to not renew the contract enables Saudi Arabia to sell oil and other goods in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. Additionally, the potential use of digital currencies like Bitcoin may also be considered

Significant financial upheaval is potentially ahead of the financial world as Saudi Arabia has decided not to renew its 80-year petro-dollar deal with the United States. The deal, which expired on Sunday 9 June, was a cornerstone of the United States global economic dominance.

Originally signed on 8 June 1974, the deal established two joint commissions, one based on economic cooperation and the other on Saudi Arabia's military needs. ...

The crucial decision to not renew the contract enables Saudi Arabia to sell oil and other goods in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. Additionally, the potential use of digital currencies like Bitcoin may also be considered.

This latest development signifies a major shift away from the petrodollar system established in 1972, when the US decoupled its currency from gold, and is anticipated to hasten the global shift away from the US dollar.

Cross-border CBDC transactions

In a more recent move, Saudi Arabia has announced its involvement in Project mBridge, a project which explores a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks. It is built on distributed ledger technology (DLT) to enable instant cross-border payments settlements, and foreign-exchange transactions...

🔗SOURCE ➡️ The Business Standard

Related: 8/25/23 — BRICS Doubles Share of Global Oil Production In Welcoming Six New Members at BRICS Summit in S. Africa — @PsyopDaily / TheMcgwire Original

7/26/23 —  The End of The PetroDollar, The Rise of BRICS is Here — @PsyopDaily / TheMcgwire Original

[For the skimmers out there... : Unless you are cool with CBDC’s, 15 minute cities, digital identification, surveillance state expansion and intranational cooperation, carbon credits, ESG, social credit scores, and everything one associates with Agenda 2030 and the sustainable developmental goals…you shouldn’t* look to BRICS governments or politicians to save you from the globalist agenda they are taking the reigns of]

March 2022 Flashback: US Hegemony Threatened As Saudis, UAE, India Ignore Threats of Sanctions, Turn to Russia/China — @PsyopDaily Original
(predicting the rise of BRICS and Saudis abandoning the petrodollar, one month into the Ukraine war)

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