For the last 50 years, the petrodollar was in place. Big oil made its transactions in USD. Then a couple of days ago, Russia and Saudi Arabia signed an agreement that likely went beyond the military and defense cooperation it claims. The agreement likely removes the two countries from their relationship with the dollar.
I signed an agreement today with the Russian Deputy Minister of Defense Colonel General Alexander Fomin between the Kingdom and the Russian Federation aimed at developing joint military cooperation between the two countries. pic.twitter.com/4gsWfp3JgK
— Khalid bin Salman خالد بن سلمان (@kbsalsaud) August 23, 2021
The only thing currently propping up the US dollar is that it is the reserve currency for purchasing oil. Once this is gone…so is the US dollar. Our money is no longer worth the paper it is not printed on. This is true doom staring us right in the face.