Saudis in Potential Deal with China that Would Topple US Dollar as Reserve Currency

Saudi Prince Mohammed bin Salman (MBS), Wiki
If Saudi Arabia sells oil to China in Chinese currency, it would strike a blow at the US economy. China buys more than 25% of the oil that Saudi Arabia exports, and if priced in yuan, those sales would boost the standing of China’s currency, and set the Chinese currency on a path to becoming a global ‘petroyuan’ reserve currency, replacing the US petrodollar and position as the world’s reserve currency.

Summary by JW Williams

The US dollar is the world’s reserve currency due in large part to the US petrodollar in which oil producers would sell their product to the US (and the rest of the world) for dollars, which they would then recycle the proceeds in dollar-denominated assets and while investing in dollar-denominated markets.

However, this system that backed the US as world’s dominant superpower is coming to an end. Saudi Arabia is in active talks with Beijing to price its some of its oil sales to China in yuan. Saudi Arabia, the world’s largest crude oil exporter, is shifting toward Asia after disappointment in Biden’s withdrawal from Afghanistan and lack of US support in the Saudi’s war with Yemen. Saudi leaders recently beheaded 81 people.

As a result of the invasion of Ukraine, China is the world’s No. 1 importer of oil and the biggest trading partner for Saudi Arabia, which is the largest oil exporter globally.

The shift to the east strikes a blow at the US petrodollar. China buys more than 25% of the oil that Saudi Arabia exports, and if priced in yuan, those sales would boost the standing of China’s currency, and set the Chinese currency on a path to becoming a global petroyuan reserve currency.

The West’s support for the conflict in Ukraine is not only knocking the US off its position as the top economic superpower, but the UK has also damaged its economy by vowing to stop importing Russian fuel by 2023; Russia supplies 4% of the UK’s gas and 8% of Britain’s oil. British PM Boris Johnson is preparing to spend billions of pounds to subsidize the heating bills of millions of British families as prices are set to rise.

While Russia starves the western world of much needed resources, sending commodity prices higher, China is quietly approaching other “non-western” former petrodollar clients to switch to the yuan.

Sources:

ZeroHedge:   https://www.zerohedge.com/markets/petrodollar-cracks-saudi-arabia-considers-accepting-yuan-chinese-oil-sales

ZeroHedge:   https://www.zerohedge.com/energy/bojo-begs-saudis-ramp-oil-production-despite-latest-round-beheadings

Visit our Classified ads.

Check out our Classified ads at the bottom of this page.

Recent stories & commentary

Classified Ads

The appearance of ads on this site does not signify endorsement by the publisher. We cannot vouch for accuracy of statements or integrity of advertisers. We will investigate complaints, however, and remove any message we find to be misleading or that promotes anything fraudulent or unethical.
For ad rates, click here.

Health

The Heavenly Handbook of Health. “WOW! U want FeedBack? So far I am floored. If I’ve learned anything about you since we met; this book has the potential to be a blockbuster.” Read 18pg Teaser @ HeavenlyHandbookofHealth.com Simple, incredible, affordable health – any age!



JWLABS – Building fine Rife frequency instruments in the USA since 1987.
We offer customer support and an exceptional warranty. Learn why all households and clinics should employ this device. Call us at 888-891-1122 to discuss the many benefits.   www.rifemachine.com



Health with space-age technology and Quantum physics. For people and all animals. No medication! Available world wide! Contact us at [email protected]. For principals and testimonials please visit our website. www.Healthytherapy.com



G. Edward Griffin’s blood pressure dropped to healthy levels and stayed there after using Cardio Miracle, a nitric-oxide booster containing a blend of ingredients that supports the body’s natural defense against heart disease, atherosclerosis, cancer, diabetes, Alzheimers, and more. If you are over 40, you really should check this out.



Learn Natural Medicine practice at home! There is NO Freedom without Health Freedom. There is NO Health Freedom without Informed, Voluntary Consent. There is no informed consent without education and understanding. American College of Natural Medicine, Thai Yoga Center provides you and your family with spiritually based natural health education. ThaiYogaCenter.Com or https://naic-edu.org

Income

Make money on money you are already spending. Join the world’s largest shopping network. Eleven-year-old company in 46 countries. Info and free membership. www.freedombuildersinternational.com



Ultimate Wealth Building Guide reveals 5 steps to create your own banking system to achieve lifetime financial security, certainty, and peace of mind in 60 days. Discover how to build and grow lasting wealth safely and predictably, regardless of market and economic cycles. www.mywealthwarehouse.com



Are you ready for financial freedom?
Visit:  www.MoneyThatsReal.com



Free Report: Three Major Shifts That Signal Risks to Your Investments Are Headed Higher. Including the one action every investor should take right now to protect their portfolio against significantly rising risks. http://BuyAndStoreGold.com/pl-geg/


Money & Banking


Lawful 100% income tax avoidance: a right recognized by IRS and Supreme Court. Request free report: [email protected] or find NoThanksIRS on FB/Twitter.


Need to Know


Anxiety Publishing – providing more satisfying novels to the conscious community, stories based in a real world, not the illusion of the establishment. Promote your precious novel with your fellow authors and help build a collection of future classics. anxietypub.com



Being informed is not enough. Knowledge, by itself, is not power, but it holds the potential for power if used as a guide for action. Truth can be overpowered by tyranny only if we fail to enter the battle. The future belongs, not to ideas, but to people who act on those ideas. If you truly want to make a difference in the world, Freedom Force International awaits you.


For Sale


Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planet’s energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (More)

 


Subscribe
Notify of
guest
3 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Wali
Wali
2 years ago

It would never happen. They signed that agreement back in the day with Kissinger. If Saudi tried it would be invaded and slaughtered.

Ragnar D.
Ragnar D.
2 years ago

The U.S. dollar is on the way out, but don’t get all teary-eyed that the U.S. is no longer “number one” in the world economy. This financial system has no connection to regular patriotic Americans. It’s run by offshore globalists who continue to rob us on a daily basis. Get your money out of the banks and invest in gold, silver, and Bitcoin unless you prefer a central bank digital currency where “woke” politicians will shut off your account if you talk about conspiracy theories too much.

Jimbo
Jimbo
5 months ago

Read: Frank Gaffney’s new book on China’s multiple-level threat against US

“The Indictment” c.2023