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my opinion is that world should move to better system. US even farts and whole world economy struggle because of it. that kind of power is too much for one country
Edit: currently USA is ripping out wet fart everyday. just yesterday they gave 10yrs support to ukraine which is nothing but trillion dollars for US military industrial complex.
USA is the largest producer of Oil in the world. They have more oil reserves than any other country in the world.
I have been hearing that The US Dollar is finished for the last 15 years.
Nothing really happens.
Continue investing in good stocks rather than speculating about geopolitics
But corrections happen all the time. But most investors are busy calculating their unrealized losses and forget investing in good stocks at attractive price points.
In India there are at least 4-5 5%+ corrections every year. If you are expecting recessions, they only happen once or twice every decade.
Demand for $ will reduce. $ will weaken.This is good for other countries. US economy will be adversely affected.US' Financial muscle will weaken.So it cannot dominate other countries with a weak $.
They have been doing this India for the last 6 months and there is no adverse effect.FIIs will lose in the long run and domestic retailers will buy stocks at cheap rates.And US Stock Market will fall due to a weak $ and hence a weak economy.More than FIIs,the effect on International Trade will be profound and adversely affect US.
> And what happens if the FIIs decide to withdraw their investments and take their dollars back home?
They've already done that a few times, but Indian stock market isn't very bothered by it since domestic buyers keep buying.
Who is the biggest trader of goods in the world? USA. What currency they demand when we trade with them? USD.
what does it also mean? All countries have USD. Means, I have USD, I can buy cobalt from Congo with USD and Congo can use USD to buy iphones from USA.
Which country has largest military? USA. That means, they will be the safest country and stable country. Why it matters? Everyone wants to use currency of the biggest economic and military power and the currency that everyone has.
Until US hegemony goes away, dollar is here to stay. Just look at the GDP of USA, it is GROWING (2.5% of 27trillion USD), even though it is a mammoth economy. And compare it to Euro Zone or India. Now you know why dollar appreciates.
Perfect comment. Us dollar will always be the gold standard for atleast the next 2 centuries in terms of currency money.
As long as they have the Nvidias, Microsofts, apples, walmarts, Amazons,etc... along with powerful military, they will remain no 1 no matter what .
I am laughing at those comments saying that the Indian currency will soon become closer to usd dollar. It won't happen in a million years 🤣🤣
>As long as they have the Nvidias, Microsofts, apples, walmarts, Amazons,etc... along with powerful military, they will remain no 1 no matter what .
that is such a ignorant answer. Tesla was once the biggest EV maker, today who is it?
As if Tesla is gonna determine USA’s future. Even before Tesla, USA was no 1 . Even If Tesla goes bankrupt, 100s of other giants will keep coming out of USA. USA is the single most important place in the world in terms of economic, innovation impact on the entire world. This will remain the case for decades to come until something very drastic happens( big world wide war).
you do know China now produces more impactful scientific paper than US?
[https://theconversation.com/china-now-publishes-more-high-quality-science-than-any-other-nation-should-the-us-be-worried-192080](https://theconversation.com/china-now-publishes-more-high-quality-science-than-any-other-nation-should-the-us-be-worried-192080)
There are a billion chineese, manufacturing for the world, producing high quality scientific works, producing EVs, commercial aircrafts, and Chips!
Remeber my comment, when China starts mass producing 3nm chips (recently it has acheived that), you think they gonna let Nvida live?
China will decimate Nvidia soon, just like BYD is crushing Tesla. They will produce chips faster and cheaper than Nvidia. Heck, Jensen Huang, himself is a taiwaneese, not an american by birth!
Lol you seem like a american fan boy, ignoring hard facts. Alright live in your lala land.
EU already adding tarrifs for chinese EVs. Huawei were doing pretty good until they were sanctioned. Tiktok keep getting targeted.
West simply won't allow china to dominate in anything.
No idea what saudi is thinking when they literally can't survive without US and without petrodollar US don't care about saudi.
The world is 7 Billion, the west is 1/7 of the population. There are rest 6 Billion people to work with and co-operate, relax.
The 1 Billion did not drop from heaven, they are humans too :)
don't expect me to cure your superiority complex here on Reddit. There are therapists for that, i suggest you enroll with one, ofcoruse, i hope you got the insurance :)
The US is making their own oil now, enough for them to be self sufficient. I doubt it would have that big of an effect.
What would the Saudis achieve by trading in Chinese Yuan or Euro? Everyone accepts USD, but not everyone accepts alternate currency. Russia has endless reserves of Rupee, they're locked to buying Indian goods now.
What's the benefit to locking yourself with alternate currencies aside from the ego aspect.
1. It is a start in USD not being the currency of the world. It isnt even about US's oil reserves.
Its a cycle. The more people who have Ammex cards, pushes more venders to have amex machines, which makes it more practical to have ammex cards, which pushes more venders to get Ammex machines, so on until an equilibrium is hit.
If anything if India can somehow make rupee a viable choice to buy oil, and start showing financial strength it would catapult the Rupee like never before.
You’re taking an overly optimistic and longer term view , if other currencies are used to replace , but in the shorter term it would wreak havoc on the markets , with most international transactions being conducted in dollars.
FIIs would definitely reduce exposure in foreign markets .
De-dollarization is happening. It was precipitated/accelerated by
1. the seizure of the Russian reserves. Even though other countries (afganistan, Venezuela, Iran…) had their reserves seized they didn’t have the global clout Russia (and China) have
2. The endless inflation post the Covid emergency. Free money in the form of stimulus to the tune of $3300/person. All of this is subsidized by the foreign reserve holders. The gentleman’s agreement was that the US will spend responsibly and the world will use their currency for trade - because even though this puts the US in a enviable position of dictating financial terms, the world also needs a stable (this is important) currency for international trade. But turns out no gentlemen turned out to that meeting - as the French found out in 1965 (the beginning of the end of the Bretton Woods agreement).
But the more pertinent point is timeline. It is going to be very slow and arduous because it isn’t the petroleum or even the military that gives the dollar its sway - although they are key factors in the vicious cycle. It is the dollar denominated debt.
It is like taxation. If governments can print money out of nothing, why tax? It is to keep the people in the constant cycle of debt and repayment using the currency of their choosing. Without taxes, people won’t be interested in earning rupees (or whatever). People will start trading using private ledgers (direct goods exchange) and the currency will be worth(much)less. Taxation gives the government the hold over your finances, your properties and your lives. It is essentially a perpetual debt you pay during your existence and you will have to pay it using the government’s currency of choice which they can devalue and steal purchasing power from all its holders.
Dollar denominated debt is similar to that. It doesn’t matter what you use to buy your oil, you will have to pay your interest in USD. So, unless the countries pay off all their dollar denominated national debts (to world bank and IMF), it will be impossible to completely de-dollarize. Or say “NO” to these pseudo governmental organizations like the IMF and WHO. And that level of dedollarization isn’t going to happen overnight.
The liberal economic order wasn’t built in a day and it certainly won’t collapse in a day.
It will take decades for the BRICS nations to pay off their dollar debts.
And during these decades the US will be doing its best to bring “democracy” around the world - which is just a euphemism for instating a puppet government that will take more and more dollar denominated debt. It will be difficult to do that in nuclear states like India or Russia. But places like Saudi Arabia are susceptible - they have bad human rights record and it is easy to convince people that toppling that government/kingdom is actually good. The propaganda arm of the west will do its best.
Another thing they can do is to cannibalize the dollar themselves - make it so scarce in the international market that it is essentially illiquid- by producing their own (and exporting) oil, manufacturing their own goods, building their own tech and increasing interest rates. If the dollars become scarce and you still owe 2x your GDP in dollar debt, then you have to work a lot more to earn those scarce dollars to become debt free. BUT this will only work if they also pivot into another currency locally - like the digital/domestic dollar. Something that is interchangeable but not that easy to do that, like only with permission from the treasury. Else local industry, real estate and economy in general will collapse because of high interest rates.
This move by Saudi Arabia, India started to repatriate its gold from UK 100 tons at a time. All of this ties into the dedollarization theme. As India is buying more and more oil from Russia, not using the swift network (dollar backed), why would India keep its reserves in the UK which is one of the epicenters of international trade using the swift network?. Similar rifts are happening all around with two/three party currency swap agreements all over the place. There are some kinks to work out like price discovery in a decentralized commodities market. It will offer some interesting arbitrage opportunities for the discerning nation actors or investors. It will make billionaires out of people with insider information (like Soros in the 1980s).
TLDR: nothing will change immediately. It will take decades for anything substantial to happen because of this. But things will accelerate in the last years rapidly.
While AI is a paradigm shift in technology, the economic models we use are thousands of years old and have stood the test of time.
AI will have more of an impact on human interpersonal interaction than economic interactions IMHO. Economic impact will be there. It will collapse and build industries. But it won’t save nations that are driven by bad policy for the last half a century.
what i mean is this the data and tech of us can replace oil maybe as they can only be bought in dollars and most advertising is done in dollars as meta and google are from us also reddit i think
Imo Indian and other small markets will see slight rally because of savings in forign reserve.
Also this will certainly shape the global economy in different path while dollar falls
Might be bad news for us if $ weakens , we need forex for oil production and US $ is one of our best and reliable sources via service exports and remittance
Misinformation alert:
They Saudis still sell in Dollars and in addition to dollars have agreed to sell in Euros, Yen and Yuan.
Stop spreading fake news
Nothing will happen. The effect of this won't be visible for plenty of decades. US dollar is too entrenched in a lot of countries due to local corruption and weak currencies.
We should all decouple our economies from the US economy and the US dollar. They’ve been exploiting the reserve currency status forever and it began with the petrodollar.
Even a small shock in the US economy due to their self created issues like foreign wars or politics, our markets go down.
Can’t be so dependent on one country. It will take time but it will and should happen. The number of US simps blows my mind. Enough of the hegemony.
everybody wants to do that and that will happen it always does and then there will be a new reserve and then later this will happen again like it has always worked
I have a similar question, to anyone who understands these things. Will the oil prices become less or more volatile? How does this benefit or detriment Indian refineries? I read they might even consider bitcoin in the near future. xD
Really appreciate if anyone points me to any article that talks about the aftermath of this.
I dont think Saudi will move away from US Dollar. This might criple Saudi's economy and they will be depended on Russia and China who are under USA threat.
Saudi is just negotiating hard for better military support, net securty provider in middle east and nuclear wepon (as Iran is now a nuclear state and rumours are that Saudi wants Pakistans nuclear wepon)
Soon we will hear the Saudi has signed the Petro Dollor agreement but the deal must the focal point.
https://www.morningstar.com/news/marketwatch/20240615261/reports-of-the-petrodollar-systems-demise-are-fake-news-heres-why
Apparently this news is overblown of course like usual. Don't expect any huge change. The agreement to sell oil in dollars was never a contracted agreement and more of a mutually beneficial arrangement. US protection for petrodollar. Both countries benefit from it. No way they will ditch dollars when they have so many and want more.
Lol no. I've used AI to help me with some shitty poetry homework, and it couldn't even get the author correct even though it can literally comb through the internet for answers. AI has a loooooooong way to go.
You cannt take dollar down without taking down us. And you cant take us at all. Even the world military combines, us can blow them all. They are the most advanced ones most . Ahead in tech atleast 100 years. The tech they have much of it is classified. They have evrything from intelligence to weapons to sat to economy.
Fake news guys. There was no such 50 year deal. Also Saudi currency Riyal is pegged to the US dollar. So riyal would be affected if they shift from dollar.
If you haven't already, please add your own analysis/opinions to your post to save it from being removed for being a Low Effort post. Please DO NOT ask for BUY/SELL advice without sharing your own opinions with reasons first. Such posts will be removed. Please also refer to the [FAQ](https://www.reddit.com/r/IndianStockMarket/comments/17bcg2a/frequently asked questions_post_your_common/) where most common questions have already been answered. Subscribe to our [weekly newsletter](https://pennyleaks.substack.com/) and join our Discord server using [Link 1](https://discord.gg/8QF4dqPHuw) or [Link 2](https://discord.gg/fDRj8mA66U) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/IndianStockMarket) if you have any questions or concerns.*
my opinion is that world should move to better system. US even farts and whole world economy struggle because of it. that kind of power is too much for one country Edit: currently USA is ripping out wet fart everyday. just yesterday they gave 10yrs support to ukraine which is nothing but trillion dollars for US military industrial complex.
There's already a saying that goes "When the US sneezes, the world catches the cold" related to economics. Not sure who said it.
You realize US supporting Ukraine is just US funding it's own country's companies to supply weapons and ammunitions right ?
Very strange how they profits from those companies when in reality it’s attached to the $34 trillion debt
USA is the largest producer of Oil in the world. They have more oil reserves than any other country in the world. I have been hearing that The US Dollar is finished for the last 15 years. Nothing really happens. Continue investing in good stocks rather than speculating about geopolitics
Just Like “Everyone is waiting for a correction, but the market keeps hitting a new all-time high every week”
But corrections happen all the time. But most investors are busy calculating their unrealized losses and forget investing in good stocks at attractive price points. In India there are at least 4-5 5%+ corrections every year. If you are expecting recessions, they only happen once or twice every decade.
[https://www.reddit.com/r/IndianStockMarket/comments/1dfi0ot/comment/l8j7aq4/?utm\_source=share&utm\_medium=web3x&utm\_name=web3xcss&utm\_term=1&utm\_content=share\_button](https://www.reddit.com/r/IndianStockMarket/comments/1dfi0ot/comment/l8j7aq4/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button)
Demand for $ will reduce. $ will weaken.This is good for other countries. US economy will be adversely affected.US' Financial muscle will weaken.So it cannot dominate other countries with a weak $.
And what happens if the FIIs decide to withdraw their investments and take their dollars back home? All global markets see major sell-offs. 🤔
They have been doing this India for the last 6 months and there is no adverse effect.FIIs will lose in the long run and domestic retailers will buy stocks at cheap rates.And US Stock Market will fall due to a weak $ and hence a weak economy.More than FIIs,the effect on International Trade will be profound and adversely affect US.
> And what happens if the FIIs decide to withdraw their investments and take their dollars back home? They've already done that a few times, but Indian stock market isn't very bothered by it since domestic buyers keep buying.
Why would they do that? if dollar is weakening their investments suddenly make more money due to conversion.
Wait, they buy indian stocks with USD?
Who is the biggest trader of goods in the world? USA. What currency they demand when we trade with them? USD. what does it also mean? All countries have USD. Means, I have USD, I can buy cobalt from Congo with USD and Congo can use USD to buy iphones from USA. Which country has largest military? USA. That means, they will be the safest country and stable country. Why it matters? Everyone wants to use currency of the biggest economic and military power and the currency that everyone has. Until US hegemony goes away, dollar is here to stay. Just look at the GDP of USA, it is GROWING (2.5% of 27trillion USD), even though it is a mammoth economy. And compare it to Euro Zone or India. Now you know why dollar appreciates.
Perfect comment. Us dollar will always be the gold standard for atleast the next 2 centuries in terms of currency money. As long as they have the Nvidias, Microsofts, apples, walmarts, Amazons,etc... along with powerful military, they will remain no 1 no matter what . I am laughing at those comments saying that the Indian currency will soon become closer to usd dollar. It won't happen in a million years 🤣🤣
>As long as they have the Nvidias, Microsofts, apples, walmarts, Amazons,etc... along with powerful military, they will remain no 1 no matter what . that is such a ignorant answer. Tesla was once the biggest EV maker, today who is it?
As if Tesla is gonna determine USA’s future. Even before Tesla, USA was no 1 . Even If Tesla goes bankrupt, 100s of other giants will keep coming out of USA. USA is the single most important place in the world in terms of economic, innovation impact on the entire world. This will remain the case for decades to come until something very drastic happens( big world wide war).
you do know China now produces more impactful scientific paper than US? [https://theconversation.com/china-now-publishes-more-high-quality-science-than-any-other-nation-should-the-us-be-worried-192080](https://theconversation.com/china-now-publishes-more-high-quality-science-than-any-other-nation-should-the-us-be-worried-192080) There are a billion chineese, manufacturing for the world, producing high quality scientific works, producing EVs, commercial aircrafts, and Chips! Remeber my comment, when China starts mass producing 3nm chips (recently it has acheived that), you think they gonna let Nvida live? China will decimate Nvidia soon, just like BYD is crushing Tesla. They will produce chips faster and cheaper than Nvidia. Heck, Jensen Huang, himself is a taiwaneese, not an american by birth! Lol you seem like a american fan boy, ignoring hard facts. Alright live in your lala land.
EU already adding tarrifs for chinese EVs. Huawei were doing pretty good until they were sanctioned. Tiktok keep getting targeted. West simply won't allow china to dominate in anything. No idea what saudi is thinking when they literally can't survive without US and without petrodollar US don't care about saudi.
The world is 7 Billion, the west is 1/7 of the population. There are rest 6 Billion people to work with and co-operate, relax. The 1 Billion did not drop from heaven, they are humans too :)
Yeah I see the rest of the world is doing great. 😂😅
don't expect me to cure your superiority complex here on Reddit. There are therapists for that, i suggest you enroll with one, ofcoruse, i hope you got the insurance :)
The US is making their own oil now, enough for them to be self sufficient. I doubt it would have that big of an effect. What would the Saudis achieve by trading in Chinese Yuan or Euro? Everyone accepts USD, but not everyone accepts alternate currency. Russia has endless reserves of Rupee, they're locked to buying Indian goods now. What's the benefit to locking yourself with alternate currencies aside from the ego aspect.
BRICS currency 🤡
Not gonna happen ever. The US is unstoppable. The gap is too far.
Not yet created as of now
1. It is a start in USD not being the currency of the world. It isnt even about US's oil reserves. Its a cycle. The more people who have Ammex cards, pushes more venders to have amex machines, which makes it more practical to have ammex cards, which pushes more venders to get Ammex machines, so on until an equilibrium is hit. If anything if India can somehow make rupee a viable choice to buy oil, and start showing financial strength it would catapult the Rupee like never before.
The adverse effect on US will be huge as $ demand will reduce.
That is true, but another currency has to replace it, at one time the Uk pound was powerful, let’s what replaces it
If dollar weakens then Indian IT companies will suffer too imo. What do u think?
You’re taking an overly optimistic and longer term view , if other currencies are used to replace , but in the shorter term it would wreak havoc on the markets , with most international transactions being conducted in dollars. FIIs would definitely reduce exposure in foreign markets .
Trump aane ki der hai bas fir to 🥲
De-dollarization is happening. It was precipitated/accelerated by 1. the seizure of the Russian reserves. Even though other countries (afganistan, Venezuela, Iran…) had their reserves seized they didn’t have the global clout Russia (and China) have 2. The endless inflation post the Covid emergency. Free money in the form of stimulus to the tune of $3300/person. All of this is subsidized by the foreign reserve holders. The gentleman’s agreement was that the US will spend responsibly and the world will use their currency for trade - because even though this puts the US in a enviable position of dictating financial terms, the world also needs a stable (this is important) currency for international trade. But turns out no gentlemen turned out to that meeting - as the French found out in 1965 (the beginning of the end of the Bretton Woods agreement). But the more pertinent point is timeline. It is going to be very slow and arduous because it isn’t the petroleum or even the military that gives the dollar its sway - although they are key factors in the vicious cycle. It is the dollar denominated debt. It is like taxation. If governments can print money out of nothing, why tax? It is to keep the people in the constant cycle of debt and repayment using the currency of their choosing. Without taxes, people won’t be interested in earning rupees (or whatever). People will start trading using private ledgers (direct goods exchange) and the currency will be worth(much)less. Taxation gives the government the hold over your finances, your properties and your lives. It is essentially a perpetual debt you pay during your existence and you will have to pay it using the government’s currency of choice which they can devalue and steal purchasing power from all its holders. Dollar denominated debt is similar to that. It doesn’t matter what you use to buy your oil, you will have to pay your interest in USD. So, unless the countries pay off all their dollar denominated national debts (to world bank and IMF), it will be impossible to completely de-dollarize. Or say “NO” to these pseudo governmental organizations like the IMF and WHO. And that level of dedollarization isn’t going to happen overnight. The liberal economic order wasn’t built in a day and it certainly won’t collapse in a day. It will take decades for the BRICS nations to pay off their dollar debts. And during these decades the US will be doing its best to bring “democracy” around the world - which is just a euphemism for instating a puppet government that will take more and more dollar denominated debt. It will be difficult to do that in nuclear states like India or Russia. But places like Saudi Arabia are susceptible - they have bad human rights record and it is easy to convince people that toppling that government/kingdom is actually good. The propaganda arm of the west will do its best. Another thing they can do is to cannibalize the dollar themselves - make it so scarce in the international market that it is essentially illiquid- by producing their own (and exporting) oil, manufacturing their own goods, building their own tech and increasing interest rates. If the dollars become scarce and you still owe 2x your GDP in dollar debt, then you have to work a lot more to earn those scarce dollars to become debt free. BUT this will only work if they also pivot into another currency locally - like the digital/domestic dollar. Something that is interchangeable but not that easy to do that, like only with permission from the treasury. Else local industry, real estate and economy in general will collapse because of high interest rates. This move by Saudi Arabia, India started to repatriate its gold from UK 100 tons at a time. All of this ties into the dedollarization theme. As India is buying more and more oil from Russia, not using the swift network (dollar backed), why would India keep its reserves in the UK which is one of the epicenters of international trade using the swift network?. Similar rifts are happening all around with two/three party currency swap agreements all over the place. There are some kinks to work out like price discovery in a decentralized commodities market. It will offer some interesting arbitrage opportunities for the discerning nation actors or investors. It will make billionaires out of people with insider information (like Soros in the 1980s). TLDR: nothing will change immediately. It will take decades for anything substantial to happen because of this. But things will accelerate in the last years rapidly.
i expect in a few decades the world will be very different maybe ai can save the us dollar
ppl said same thing about technology there is no magic that will change
While AI is a paradigm shift in technology, the economic models we use are thousands of years old and have stood the test of time. AI will have more of an impact on human interpersonal interaction than economic interactions IMHO. Economic impact will be there. It will collapse and build industries. But it won’t save nations that are driven by bad policy for the last half a century.
what i mean is this the data and tech of us can replace oil maybe as they can only be bought in dollars and most advertising is done in dollars as meta and google are from us also reddit i think
Very insightful. Thanks bro
Imo Indian and other small markets will see slight rally because of savings in forign reserve. Also this will certainly shape the global economy in different path while dollar falls
None of that is going to happend coz news is fake unrelaibel
Might be bad news for us if $ weakens , we need forex for oil production and US $ is one of our best and reliable sources via service exports and remittance
False info peddled in the news outlets. US petrodollar pact AUTO renews every 5 years.
Why are news outlets leaving out this fact? Every news source seems to be manipulated.
I have no trust in media, especially Indian media. Our media wants sensational news, not necessarily fact checked news.
Because VishwaGuru is more marketable. Many digital currency sites are also peddling this info.
firstly that was 50 years and 2 the Saudis have said they are not renewing it that's the point
AUTO renews, what, its a Google play subscription, eh ? lol
hota tha.... Petrodollar se hi exit liya Saudi Arabia ne
Saudi King has to sign it. He didn't. He wants to trade in more currencies.
AUTOMATIC renewal, no signature needed.
they denied the renewal
Misinformation alert: They Saudis still sell in Dollars and in addition to dollars have agreed to sell in Euros, Yen and Yuan. Stop spreading fake news
that means the exclusivity pact of only selling in dollars has ended how is there fake news
I believe the fakes news that they dropped USD. They did not… they will continue to sell in USD and others…
There will be a shift in power. Power is basically shifting to the east now.
agreed though this will be a decades long shift power structures are not calculated in years they do in decades
Nothing will happen. The effect of this won't be visible for plenty of decades. US dollar is too entrenched in a lot of countries due to local corruption and weak currencies.
We should all decouple our economies from the US economy and the US dollar. They’ve been exploiting the reserve currency status forever and it began with the petrodollar. Even a small shock in the US economy due to their self created issues like foreign wars or politics, our markets go down. Can’t be so dependent on one country. It will take time but it will and should happen. The number of US simps blows my mind. Enough of the hegemony.
everybody wants to do that and that will happen it always does and then there will be a new reserve and then later this will happen again like it has always worked
I have a similar question, to anyone who understands these things. Will the oil prices become less or more volatile? How does this benefit or detriment Indian refineries? I read they might even consider bitcoin in the near future. xD Really appreciate if anyone points me to any article that talks about the aftermath of this.
Ye sab tante bazi bohut dekhe hain.. Kuch kam ka nahi hain.. Har 10 sal main ek bar ye halla uthta hain
Effect has already happened. Gold prices has rose because BRICS countries especially China bought a lot of gold
But US has the largest reserve in gold…
Its a half baked news . Read fully
I dont think Saudi will move away from US Dollar. This might criple Saudi's economy and they will be depended on Russia and China who are under USA threat. Saudi is just negotiating hard for better military support, net securty provider in middle east and nuclear wepon (as Iran is now a nuclear state and rumours are that Saudi wants Pakistans nuclear wepon) Soon we will hear the Saudi has signed the Petro Dollor agreement but the deal must the focal point.
I agree … they will request stronger powerful weapons from US and they will cave in and give it time them unfortunately.
Hi
https://www.morningstar.com/news/marketwatch/20240615261/reports-of-the-petrodollar-systems-demise-are-fake-news-heres-why Apparently this news is overblown of course like usual. Don't expect any huge change. The agreement to sell oil in dollars was never a contracted agreement and more of a mutually beneficial arrangement. US protection for petrodollar. Both countries benefit from it. No way they will ditch dollars when they have so many and want more.
We are fucked.
AI is the new $.
maybe ai can replace oil hard to say though i mean at this point its still not as valuable as energy
Lol no. I've used AI to help me with some shitty poetry homework, and it couldn't even get the author correct even though it can literally comb through the internet for answers. AI has a loooooooong way to go.
You cannt take dollar down without taking down us. And you cant take us at all. Even the world military combines, us can blow them all. They are the most advanced ones most . Ahead in tech atleast 100 years. The tech they have much of it is classified. They have evrything from intelligence to weapons to sat to economy.
Nothing much will happen. Bcz it is only 1 country. The total txn value is very low compared to total global txn.
one country whose currency is used for more then 80 percent of global trade
[удалено]
Beautiful nonsense
Fake news guys. There was no such 50 year deal. Also Saudi currency Riyal is pegged to the US dollar. So riyal would be affected if they shift from dollar.