US HEGEMONY IS OVER
This may be the most important news ever
I started a blog 13 years ago.
I started with Peak Oil and collapse of the modern industrial society.
Some details have changed, but the fundamentals have not.
You can bet that no one (but NO ONE) will be talking about this.
https://t.me/trumpetnews1/26296
Death of the Petrodollar ⚠️
The long-standing Petrodollar deal between the US and Saudi to sell oil only in dollars ended on June 9 - after being in place for 50 years.
The system marked the US dollar as the world's reserve currency, granting economic stability and access to rising asset prices – it also helped preserve dollar dominance over global trade.
Turbulent times and great geo-political changes lay ahead.
June 9 marks the end of the petrodollar
After 50 years, the end of an era is looming. The petrodollar agreement between the United States and Saudi Arabia ends on June 8th and will not be extended. With their immense gold purchases, the BRICS countries have probably made appropriate preparations in recent years.
On June 8, 1974, the United States of America and the Kingdom of Saudi Arabia signed a far-reaching pact that would allow the US dollar to continue to play a major global role after the end of the gold standard and would guarantee the Saudis continued regional supremacy. This military and economic agreement was to be valid for 50 years, until June 8, 2024, according to which the world's most important oil producer at the time would only sell its “black gold” in US dollars and would also urge the other members of the OPEC oil cartel to follow suit. At the same time, the absolutist Gulf monarchy was to receive extensive military support.
This means that from June 9, 2024, Saudi Arabia can sell its oil in any currency it wants – including based on the Chinese yuan or Indian rupee. As part of the new BRICS+ group, which also aims to create an alternative currency system to protect against US sanctions, the Saudis could become a mainstay of the new multipolar world. Last year, Saudi Arabia's Finance Minister Mohammed Al-Jadaan announced that his country was ready to accept currencies other than the US dollar for the purchase of oil. This was a preparation for what was already planned: to gradually end the one-sided dependence on the US dollar, the Fed's monetary policy and Washington and to diversify the options.
Although the diversification of oil markets away from the US dollar and towards other currencies is likely to be a long process, this marks the beginning of the end of the petrodollar that has shaped the world for half a century. In an increasingly multipolar world with a declining dominance of the US-led West, this development is likely to accelerate the whole transformation process.
THIS IS THE END, MY ONLY FRIEND, THE END
The US dollar, which is currently benefiting mainly from the persistently high interest rates, is therefore likely to come under considerable pressure in the medium to long term. After all, the sales of “black gold” also created artificial demand for the greenback. But with the end of the petrodollar agreement and the opening of the oil market to other currencies, a certain gap in demand will emerge over time. This is particularly true because the BRICS+ community also wants to generally forego the use of the US dollar and western financial transaction systems such as SWIFT. It is also no wonder that these countries are continually expanding their gold reserves and gradually reducing parts of their dollar holdings.
The Collapse of the Petrodollar: Exposing the End of U.S. Dollar Dominance and the Rise of BRICS Power
Key Points to Remember:
Origins of the Petrodollar: Established in the 1970s post-oil crisis, solidifying the U.S. dollar as the primary reserve currency.
Geopolitical Tensions: Nations like Russia, Iran, and China seek alternatives due to U.S. sanctions and political maneuvering.
Rise of the Petroyuan: China’s efforts to promote its currency in global trade.
BRICS Alliance: Exploration of a new reserve currency by Brazil, Russia, India, China, and South Africa.
Economic Impacts: Reduced global demand for the U.S. dollar, potential financial instability.
Political Influence: Diminished U.S. ability to impose economic sanctions and maintain global influence.
Historical Context: The shift began accelerating with President Trump’s policies and is now reaching a critical point.
Global Realignment: New financial systems, trade practices, and geopolitical dynamics are emerging.
How The END of the Petrodollar Is Changing The World!!!
Hal Turner talks about this in his article, War is the thing where . . .
This is where all this leads to…
BRICS UNIT becoming official in Sep and launching in Oct...