Destruction of the US dollar

[devil21]

Petrodollar dominance ending - Saudis "consider" accepting yuan for oil instead of dollars

https://www.wsj.com/articles/saudi-a...d=hp_lead_pos6

[osan]

The globalists MUST bring America to heel. As Americans continue to resist, Theye keep ramping up the campaign. I suspect Theye probably destroy the dollar with some regret, but do so because nothing else seems to be working. As things stand with the average American qualifying as nary better than a low-grade moron, both intellectually and morally, it would seem that ruining the dollar might well do the trick. OTOH, hard times tend to shake people from their voluntary, nay willful stated of stupor, so you never know what may ultimately transpire. Black market economies based on actual money, or perhaps bitcoin. If enough people got on board, Theye would have either to stand down, which we all know they will not, or escalate yet again. But one can push even a whipped dog only so far.

[DamianTV]

Petrodollar dominance ending - Saudis "consider" accepting yuan for oil instead of dollars

https://www.wsj.com/articles/saudi-a...d=hp_lead_pos6

This is the biggest story of this DECADE and NOBODY save a few posts here and there are talking about it.

[devil21]

Looks like Saudi Arabia is close to joining BRICS. Petrodollar almost done.

https://theconservativetreehouse.com...omic-alliance/

At the conclusion of the summit, he confirmed the intent of Saudi Arabia to join the BRICS economic coalition, which should not come as a surprise given the previous statements by Saudi leader and Crown Prince Mohamed Bin Salman (MbS).

(MSM) Ramaphosa confirms Saudi Arabia wants to join Brics family. This was revealed by President Cyril Ramaphosa during his two-day state visit to the kingdom on Sunday.

“The Crown Prince (prime minister Mohammad bin Salman bin Abdulaziz al Saud) did express Saudi Arabia’s desire to be part of Brics and they are not the only country,” said Ramaphosa. He confirmed this on Sunday during an engagement with the media.

Brics held its first summit in 2009, with SA (south africa) joining the following year. The bloc has generally been seen as an alternative to the dominance of the western economies.

“We did say that Brics having a summit next year under the chairship of South Africa in SA and the matter is going to be under consideration.

“A number of countries are making approaches to Brics members, and we have given them the same answer that it will be discussed by the Brics partners and thereafter a decision will be made.” more at link

[cjm]

This is the biggest story of this DECADE and NOBODY save a few posts here and there are talking about it.

Aside from a handful of folks, most people don't understand it. It involves very complicated economic theories like supply and (artificial) demand. Time is better spent on policing neighbors' mask wearing or solving the world's other low value problems on nextdoor.com.

[devil21]

China-Arab summit, Xi personally attending in Riyadh

https://www.reuters.com/world/chinas...es-2022-12-07/

Chinese President Xi Jinping began a visit to Saudi Arabia on Wednesday that Beijing said marked its biggest diplomatic initiative in the Arab world, as Riyadh expands global alliances beyond a longstanding partnership with the West.

The meeting between the global economic powerhouse and Gulf energy giant comes as Saudi ties with Washington are strained by U.S. criticism of Riyadh's human rights record and Saudi support for oil output curbs before the November midterm elections.

The White House said Xi's visit was an example of Chinese attempts to exert influence, and that this would not change U.S. policy towards the Middle East.
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"We are mindful of the influence that China is trying to grow around the world," White House National Security Council spokesperson John Kirby told reporters.

China, the world's biggest energy consumer, is a major trade partner of Gulf oil and gas producers. Bilateral ties have expanded under the region's economic diversification push, raising U.S. concerns about growing Chinese involvement in sensitive infrastructure in the Gulf.


Energy Minister Prince Abdulaziz bin Salman on Wednesday said that Riyadh would remain a "trusted and reliable" energy partner for Beijing and that the two countries would boost cooperation in energy supply chains by establishing a regional centre in the kingdom for Chinese factories.

Saudi Arabia is China's top oil supplier and Xi's visit takes place while uncertainty hangs over energy markets after Western powers imposed a price cap on sales of oil from Russia, which has been increasing volumes to China with discounted oil.

The Chinese delegation is expected to sign deals worth $30 billion with Riyadh, Saudi state media had said.
'EPOCH-MAKING VISIT'

Xi was met by the governor of Riyadh, the kingdom's foreign minister and the governor of sovereign wealth fund PIF.

Crown Prince Mohammed bin Salman is expected to offer Xi a lavish welcome, in contrast with the low-key reception for U.S. President Joe Biden whose censure of Saudi Arabia's de facto ruler formed the backdrop for a strained meeting in July.

Xi will hold bilateral talks with Saudi Arabia and Riyadh will later host a wider meeting with Gulf Arab states and a summit with Arab leaders which will be "an epoch-making milestone in the history of the development of China-Arab relations", foreign ministry spokesperson Mao Ning said.

Speaking on arrival in Riyadh, Xi said he would work with the Gulf Cooperation Council (GCC) and other Arab leaders "to advance Chinese-Arab relations and Chinese-GCC relations to a new level", Saudi state news agency SPA reported.

For Riyadh, frustrated by what it sees as Washington's gradual disengagement from the Middle East and a slow erosion of its security guarantees, China offers an opportunity for economic gains without the tensions which have come to cloud the U.S. relationship.

"Beijing does not burden its partners with demands or political expectations and refrains from interfering in their internal affairs," Saudi columnist Abdulrahman Al-Rashed wrote in the Saudi-owned Asharq Al-Awsat newspaper.

Unlike Washington, Beijing retains good ties with Riyadh's regional rival Iran, another supplier of oil to China, and has shown little interest in addressing Saudi political or security concerns in the region.

Saudi Arabia, birthplace of Islam, had supported China's policies in Xinjiang, where the U.N. says human rights abuses have been committed against Uyghurs and other Muslims.

Saudi officials have said that regional security would be on the agenda during Xi's visit. The United States has for decades been Saudi Arabia's main security guarantor and remains its main defence supplier, but Riyadh has chafed at restrictions on U.S. arms sales to the kingdom.

Riyadh has said it would continue to expand partnerships to serve economic and security interests, despite U.S. reservations about Gulf ties with both Russia and China.

[Brian4Liberty]

China-Arab summit, Xi personally attending in Riyadh

https://www.reuters.com/world/chinas...es-2022-12-07/

Interesting. Perhaps next we will see China broker peace between the Saudis and Iran, in an alliance against the west...

[devil21]

ZH follow-up on Xi-Saudi meet:
https://www.zerohedge.com/markets/xi...-military-ties

Concerning the latter area, the WSJ details that "One of the agreements involves a top Saudi renewable energy company, Acwa Power, and the Industrial & Commercial Bank of China Ltd.—China’s largest commercial bank, which is a direct participant in CIPS, the Chinese version of SWIFT—hinting at deepening financial cooperation between the countries."

Saudis officially join BRICS at the June 23 2023 BRICS summit in....New York? It's being held at UN HQ, how ironic, but probably operationally important since it's in the banking city and Wall St will no doubt be involved in the summit, probably unofficially. Obviously there's huge ramifications across all dollar-denominated markets. Since Sept crash (financial markets, at least, main st may think differently) hasn't really materialized this makes me want to change my markets crash prediction to start in Feb and completely crash going through June. Everything dollar-denominated would be at risk.

Looks like there's a new sheriff in town. Check out the Saudis genuflecting toward Xi:
https://twitter.com/AZgeopolitics/st...52277332307968

(something about an old Saudi quote about how they once rode camels....then they rode in Mercedes Benzs....then would ride on camels again.........)

[Swordsmyth]

Saudi Arabia To Trade In Currencies Other Than The Dollar
https://www.thefinancialtrends.com/2...an-the-dollar/

[devil21]

It's nice to see the rest of the world catching up to threads I've been posting for the last 14 years. Apparently there's a running dialogue between an ex-Fed economist and a Russian economic minister about reintroducing gold-backed currency, but based on CBDC.

https://www.zerohedge.com/geopolitic...r-global-south

---------------------
My other old thread about reintroduction of gold-backing starting from 2015 (some good nuggets of info in there to maybe pay attention to, especially in this pivotal year):
http://www.ronpaulforums.com/showthr...-money-is-done

[Swordsmyth]

Contrarian Thoughts On The Petro-Yuan And Gold-Backed Currencies

https://www.zerohedge.com/markets/co...ked-currencies

[Swordsmyth]

Two South American States Take Big Step To Reduce Dollar-Dependency

https://www.thefinancialtrends.com/2...ar-dependency/

[Swordsmyth]

India And Russia To Bypass Dollar In New Energy Deal

https://www.thefinancialtrends.com/2...w-energy-deal/

[Bern]

Hello RPF friends. It's been a while since I visited...

Nouriel "Dr. Doom" Roubini wrote a bit in the Financial Times recently (link below redirects to FT so you can read it without a subscription):

... For all these reasons, the relative decline of the US dollar as the main reserve currency is likely to occur over the next decade. ...

https://news.google.com/articles/CBM...S&ceid=US%3Aen

~~~

BRICS expansion may not happen quickly:

... it may be noted that Algeria, Argentina, and Iran have applied to join BRICS. They are not the only potential new BRICS members as Afghanistan, Egypt, Indonesia, Saudi Arabia and Turkey are also interested in becoming members.

In a further demonstration of growing interest in joining BRICS, the finance ministers of a number of countries - Kazakhstan, Nicaragua, Nigeria, Senegal, Thailand and the United Arab Emirates - attended last year's BRICS expansion dialogue.
...
BRICS has faced criticism, notably over its absence of clear, unifying principles and a shared vision for managing the global order.

Also, some of the current and potential members are facing internal issues such as unstable economies and diplomatic isolation, different levels of economic development and geopolitical rivalries. These could make it more challenging for governments to maintain power domestically and achieve cohesion within the bloc.
...
... For several potential members, various interlinked domestic crises need to be resolved before membership is possible. Meanwhile, for other potential members, regional rivalries need to be put aside to ensure membership.

https://www.msn.com/en-xl/news/other...in/ar-AA17fozE

[devil21]

Yellen says July-Sept frame for default. Times up well with Saudi's BRICS pivot in June and probably an eventful September. (the unspoken part: Upon default, the Fed will be happy to take ownership of what remains of the gold held in the Fed's custody as collateral against the debt and then use it as backing for CBDC. Remember, Zippy told us many times that the Fed didn't own the gold it held, it was just in "custody" of the Fed. As collateral. Rewatch Die Hard 3. (Though its worth noting that custodial trustees of property are legal titleholders to that property, even though the property is held for the "benefit" of the beneficiary....basic trust law.)

https://www.nytimes.com/2023/02/15/u...bo-report.html

[Swordsmyth]

Russia And Bolivia To Trade In Local Currencies

https://www.thefinancialtrends.com/2...al-currencies/

[devil21]

Interesting. Perhaps next we will see China broker peace between the Saudis and Iran, in an alliance against the west...

China-Iran summit just completed.

[Bern]

I really don't see Iran and Saudi Arabia ever playing nice with each other. BRICS are likely going to have make a choice between Sunnis and Shia in the middle east.

[devil21]

China says ready to "join forces" with Russia to defend national interests, Putin-Xi summit forthcoming, though no date is mentioned in this piece.

https://www.zerohedge.com/geopolitic...firms-xi-visit

"The People’s Republic of China is ready to join forces with Russia to decisively stand up for national interests and promote mutually beneficial cooperation in all areas," Wang said Tuesday while meeting with Russian Security Council Secretary Nikolay Patrushev. On Wednesday he met with Russian President Vladimir Putin in what appeared a warm and cooperative visit.

He additionally said China will "together with all like-minded partners further promote the development of the international order in the direction of equitable development."
-----------------------
Beijing has of late expressed its desire for warring parties to reach negotiated peaceful settlement in Ukraine. This could be focus of President Xi Jinping's upcoming trip to Russia. While news of the future trip broke Tuesday, President Putin confirmed Wednesday that it will happen - a very significant symbolic first since the Ukraine invasion.

A Chinese media readout is more dovish. Hard to know if translations are accurate or if only specific sections are quoted for each piece. Safe to say that US, Chinese and Russians all spin news to their populations.
https://www.globaltimes.cn/page/202302/1286042.shtml

I really don't see Iran and Saudi Arabia ever playing nice with each other. BRICS are likely going to have make a choice between Sunnis and Shia in the middle east.

Just my speculation, albeit fairly well educated speculation but speculation nonetheless, that through back channels agreements have been made to avoid all-out genuine war, but the public appearance of "two opposing sides" is still being maintained and will probably come into play later for a public perception management agenda. Maybe the appearance of war but not really? War, or at least the appearance of it, is often used as a cover story by the bankers for global economic shifts/reordering, territorial and resource reallocations, social engineering narratives, etc.

[Bern]

https://news.antiwar.com/2023/02/21/...military-ties/

[devil21]

https://news.antiwar.com/2023/02/21/...military-ties/

Israel and Saudi royals are the same yahudi (Lucifer*) bloodline. Their public opposition has always been fake.

https://www.jpost.com/middle-east/ir...article-692595




(*Lucifer was the god of the various mountains of the OT...burning bush? ahem....close to heaven...but not quite back there)

[Bern]

I posted the link from my phone last night, so I didn't quote or add commentary. The point is that Saudi Arabia is not ever going to tolerate Iran. Their regional difference is real and since both of them want to become BRICS members, it's problematic. Either the BRICS choose one or the other or tell them both to kiss and make up before either gets into the club. Since both nations already have ties of various strength with existing BRICS members, I expect both Iran and Saudi Arabia are going to sit on the BRICS sidelines (as alluded to in the Chinese media story I quoted earlier) until the Sunni/Shia divide - that's been percolating for nearly 1,400 years - gets resolved.

[Swordsmyth]

Iraq To Settle Trade In Yuan

https://www.thefinancialtrends.com/2...trade-in-yuan/

[devil21]

I posted the link from my phone last night, so I didn't quote or add commentary. The point is that Saudi Arabia is not ever going to tolerate Iran. Their regional difference is real and since both of them want to become BRICS members, it's problematic. Either the BRICS choose one or the other or tell them both to kiss and make up before either gets into the club. Since both nations already have ties of various strength with existing BRICS members, I expect both Iran and Saudi Arabia are going to sit on the BRICS sidelines (as alluded to in the Chinese media story I quoted earlier) until the Sunni/Shia divide - that's been percolating for nearly 1,400 years - gets resolved.

Sorry bro, that post didn't age well. Mine a few posts up wasn't spot on but the trend of China taking the lead to get everyone in line and playing nice, at least publicly, is pretty clear I think. Multiple sources have already confirmed that Saudis join BRICS in June at the BRICS summit. I assume Iran will also at some point. Whole world is moving away from dollars in unison.

https://www.cnbc.com/2023/03/10/arch...embassies.html

DUBAI, United Arab Emirates — Long-time regional foes Iran and Saudi Arabia agreed to resume diplomatic relations and reopen embassies in each other’s countries following China-led negotiations in Beijing, both governments announced via their respective state media agencies.

“As a result of the talks, Iran and Saudi Arabia agreed to resume diplomatic relations and re-open embassies ... within two months,” Iran’s news agency IRNA reported Friday.

Saudi Arabia’s state Saudi Press Agency confirmed the announcement in its own statement.

The Saudi statement profusely thanked Beijing for its leadership in the talks.

“In response to the noble initiative of His Excellency President Xi Jinping, President of the People’s Republic of China, of China’s support for developing good neighborly relations between the Kingdom of Saudi Arabia and the Islamic Republic of Iran... The delegations from the two countries held talks during the period 6-10 March 2023 in Beijing,” the SPA statement said.more at link

[Bern]

lol - I was just coming here to post the same article. Surprised the heck out of me to see it this morning. We'll see if it sticks.

[devil21]

lol - I was just coming here to post the same article. Surprised the heck out of me to see it this morning. We'll see if it sticks.

All good. Just keep in mind that while muslim countries that historically always opposed each other on ideological grounds making nice seems positive, it also shows a drawing of lines between more oppositional ideologies such as islam vs zionism. But also consider that perhaps the leadership of countries/populations such as Saudi Arabia and Israel aren't necessarily opposed. Their populations are, however.

[Swordsmyth]

Dollar Slides After Bank Failures

https://www.thefinancialtrends.com/2...bank-failures/

[Madison320]

Dollar Slides After Bank Failures

https://www.thefinancialtrends.com/2...bank-failures/

I think they stopped the bank failures for now but the problem is they did it by creating inflation.

My guess is the fed is not going to cut rates but they are going to be doing stealth QE now that the banks can trade in their low yielding paper for high yielding paper.

This way they can claim they are still fighting inflation since most people focus on the rates not on the balance sheet.

It'll be interesting to watch the balance sheet although they're in so much trouble now that I'm worried they might start faking the balance sheet numbers. Especially when we get close to hitting milestones like 10 trillion on the balance sheet.

[Swordsmyth]

China Dumping US Debt

https://www.thefinancialtrends.com/2...mping-us-debt/

[Madison320]

Holy crap! The fed printed 350billion this week!!! I figured it would go up by maybe 10 billion. They almost undid all the QT that they've been doing for the last year. The balance sheet might hit a new high next week. This is crazy. Get ready for all time high price inflation readings.