Bluesteal

This is not an analysis... this is what has been happening for quite some time and then when the Petro-dollar is being broken by the Saudi's by allowing the Yuan to be accepted that is no analysis. that is what is happening. You dont need to know how the world works to fly planes LOL

chihuahua

They would. That's why you'll get trade agreements between different countries that may not involve the Yuan either. The point is that people will be getting off the dollar because it's no longer trusted.

chihuahua

Yes, this thread was brought about by the fact the Russia sanctions are already going sideways with countries starting to look at how they can dump the dollar so that they can't get punished the same way for mis-behaving. Or maybe that's the point of this whole thing, to kill the USD.

Bluesteal

Exactly Chihuahua... we're so brainwashed by the TV that people dont even realize these sanctions are absolutely killing the west and mostly the US. The whole world will go away from the dollar and as the Saudi's have their meeting with China today, Saudi's and other OPEC nations may now price their oil in Yuan. Crushing the US and impoverishing the people

chihuahua

He trusts that the fed will act when they get their 'alarm bells'. lol. That's just about all you have to know. He doesn't have the slightest understanding of what you're trying to explain.

2StgTurbine

To be worried about the petro-yuan means you have to believe the petro-dollar is a real thing. Those are the same people that think the gold standard was perfect, the Keystone Pipeline would lower OUR gas prices, and one day China will demand we reimburse them for all their treasury notes. If you actually believe these things, stop trying to convince all of us sheep and put your money where your mouth is. If your predictions are correct, you could make a life-altering amount of money.

Bluesteal

LOL... ok, here's a little real history for you.. The Petro-dollar is a real thing. The Petro-dollar is a real event, an agreement that happened in 1973 between the Saudi's and the US. The agreement was that the Saudi's would price all their Oil in USD. A few years later, other OPEC countries joined the party and priced all their Oil in USD. It's been like that since 1973. So, since 1973 any country in the world that wanted Oil to run their economy, they needed to buy that Oil in Dollars. So, all the countries in the world would have to buy USD first, then the Oil. So, thats why the dollar was needed by every country. We exported the dollar. Any country that didnt do that, got sanctions or their leaders were called terrorists and were removed by the military and a new leader was installed that would help keep the Petro-dollar going. Thats some real history and I know some people will hate to hear the truth. I hate it also that this happened and that our gov is so corrupt, but its how it works. Its all about money, power and control of natural resources.

Now for the first time, this 1973 Petro-dollar agreement may be broken as the Saudi's would accept Yuan. Other countries would follow and buy Yuan instead of dollars to buy that Oil from Saudi's and other OPEC countries. Now, what do you think would happen to the dollar as it would no longer be needed to purchase Oil??? Thats the Petro-dollar bud, dont get it confused with the FED. Its just a transaction to buy Oil. Now, there wont be a need for dollars. So, its not about believing or not believing... its actually happening.

And yes, i have put my money where my mouth is and this is why i talk about this because I care about everyone. I don't know you, but I want you to think about other things and alternatives because it can possibly help you and others. Think of Gold, Silver, Crypto, even a piece of real estate as a HEDGE to hyper inflation. The dollar wont have much value. Good luck and wish you the best

Myfingershurt

Do you believe that that many other countries would put their trust in the Chinese yuan (chinese government) to change their method of petroleum purchasing? Maybe North Korea and Russia. But how many other major economies would follow suit. Currently we’re only talking about 25% of total barrels/per day being sold in yuan. And also what’s to stop other major economies from following china’s example and work out their own deals with the Saudi’s and opec? Why do you automatically assume that the rest of the world would be willing to rely upon Chinese currency for energy purchases?

Bluesteal

Most countries in 1973 had no choice. Saudi and OPEC can call the shots now. So, most countries may not have a choice. But, my original post said it would be the 1st step at 25%. Just 25% of Oil exports from Saudi in Yuan would be HUGE dent in the dollar dominance around the world. It would be a domino effect. As the dollar continues to depreciate as it is now, it is reducing the revenue of the Saudi's. And, no other country can follow China because it is an agreement made by the Saudis and OPEC countries. They decide. No country can just say "hey, i want to buy your oil, but Im not paying you in dollars or yuan, im giving you my currency". Its like going into a store in your hometown and trying to pay for milk with M&M's You get laughed out of the store. But, finally the petro-dollar is what gave the US the power to print money and export the dollar. This will make us default. Whats sad it that nobody is talking about this, they will just blame the war in Russia/Ukraine for why we collapse..

Myfingershurt

But i the question still remains: if given the choice of whether to use the dollar or yuan for oil purchases, why would any other country choose the yuan and support Chinese yuan becoming the dominant currency. It seems like for most countries in the world, China calling the shots would be a much worse option. And i wasn’t saying other countries can just decide to use their own currencies, but they request the same talks that China is having now. I could definitely see the EU collectively trying to make the same kind of deal when they see opec being open to accepting other currencies than the dollar.