Guest Post by Martin Armstrong
Russia is not the only country turning to the yuan. Beijing is in talks with Saudi Arabia to begin purchasing oil with their own currency opposed to the USD. Saudi Arabia has long had a volatile relationship with the US, and seeing the harsh sanctions imposed on Russia is only making the yuan more appealing.
Around 80% of global oil sales are exchanged in dollars, with Saudi Arabia using the USD exclusively for oil sales since the 1970s per agreement with the US government. Crown Prince Mohammed bin Salman was unable to have diplomatic relationships with President Biden after the publicized 2018 assassination of journalist Jamal Khashoggi. “We were going to make them the pariah that they are,” Biden stated in 2019. Add to this America’s nuclear negotiations with Iran and dismissal of Saudi Arabia’s request for support with military operations in Yemen.
The illusion of the dollar being an impenetrable safe haven has shattered due to Biden’s policies. Countries now know that their dollar reserves could be confiscated or frozen at any time and deemed utterly useless. The Saudis have been toying with the idea of accepting the yuan for oil payments for the past six years, but recent events just may be the final straw.
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call back when they accept only gold.
Well if they put the yuan on a gold standard, then it will essentially be only gold.
The avalanche begins.
It’s the beginning of the end for the USD. Eventually Russia (or someone else) will announce they are backing their currency with Gold etc again. Then we’re really fucked.
Well, they are already on it, I think.
Biden is now is a position where his decisions and his words can do real damage to the USD
Whatever is left that Bidens’ team and managers haven’t destroyed? If you can think of it that is what they’ll do next!
Weird thing is , seems all the top notch republicOns are onboard with Russian sanctions. How about Texas Governor Gregg Abbott? Gregg said remove all Russian products from the shelves, eh? Seems dumb to remove products a retailer has already paid for. Who gets the shaft on that?
Anyway. If anyone can come to the defense of Abbott I’d be more than happy to hear it.
There will be no Black Russians. There will be no White Russians.
Biden’s a turd. Who last sold weapons to Saudi Arabia?
Reporting for FOX News, Fair and Balanced
Seriously?
https://www.washingtontimes.com/news/2018/mar/20/trump-saudi-arabia-prince-bond-over-arms-deals-hos/?utm_source=GOOGLE&utm_medium=cpc&utm_id=chacka&utm_campaign=TWT+-+DSA&gclid=EAIaIQobChMI1dLFj9vQ9gIVED2tBh20rgecEAAYAiAAEgI7zfD_BwE
I never figgered that one out especially since Saudi Arabia was in on the 911 “deal”.
Well, if YUAN oil guess you’re gonna have to pay.
This whole conflict with Biden and Putin looks more like a drug deal gone bad than anything else, with Biden and Putin being the drug dealers and their drug kingpin overlords being the likes of Kissinger, Gates, Soros, Rockefellers and the rest of the globalist deep state. So Biden and Putin, doing the bidding of their overlord drug kingpins meet in a crackhouse called Ukraine to do a deal. And then when the deal doesn’t go down like everyone thought it would, somebody pulls out a gun and starts shooting. That’s where the situation is now.
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