Originally Posted by 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.

Originally Posted by 2StgTurbine

You acknowledge the US uses the dollar as a weapon, but you aren't acknowledging that China does the same with the yuan. The only countries that will actually switch to the yuan are doing it out of desperation. That's why China is "investing" heavily in Africa and South America. Those are the only places that are willing to take that risk.

Originally Posted by Bluesteal

The end of the dollar moving faster than I thought it would be....First, its important to know how the World reserve currency/petro-dollar works, then it will become easy to understand how this all works and why we have all been spoiled for many decades with a much better standard of living.

Saudi Arabia is now considering allowing China to use the Chinese Yuan to buy Oil. Further destroying the Petro-Dollar which was agreed on for many decades to purchase Oil. This is what I have warned about for a long time. You all think this inflation is bad now... there's about to be trillions and trillions, i dont even know anymore how many dollars will be looking for a new home as 25% of Oil being purchased from the Saudi's will be from the Yuan and not the dollar. Of course this is 1 step, then the next step is 50%. Then all other countries that are tired of the dollar being weaponized will then also beable to buy Oil without using the dollar.

Here comes the end of the dollar as the world reserve currency... its very soon and $300-$400Hr as a Captain will be not much money at all as the value of the dollar will plummet and buying power will be lost like we have never seen before. Our standard of living is going plummet. Like ive been saying for awhile, this is all one big spiderweb and to think sanctions will hurt Russia and Putin is just ignorance. This was all 30+ years in the making and designed to bring down the west and sadly our government(both sides of the aisle) is beyond corrupt. Buy Gold, Silver, maybe some Bitcoin, Ethereum, storable food for you and your families because our way of life is about to get destroyed. Every time the collapse of the world reserve currency happens and replaced with another currency, that country that loses it's status becomes very brutally violent (we are already seeing the beginning) as poverty skyrockets, crime rises, cost of living is not attainable by majority of population. Some other advice... all your 401k's, retirement funds will literally be worthless as it will lose all of its buying power. Consider moving some retirement funds into Gold, Crypto if its available. Bottomline, do whatever you can to get away from dollars and into hard assets. Anyone holding dollars will be left holding the bag.

I say all of this to not scare people, but to be a warning and to possibly help some people on here make some moves before it gets really bad, its already beginning, but once the dollar loses its reserve currency, its not going to be fun here. Saudi's considering moving to the Yuan and getting away from the Dollar is going to be the nail in the coffin. Inflation will become Hyper-Inflation. I'll be a happy camper when all my hard assets will not lose value while the dollar gets destroyed. Im hoping you can all do the same also. Good luck and VOTE NO on all your contracts! Being stuck on a 5yr contract sitting at $300Hr for CA and $175Hr for FO's wont be fun trying to survive with a family because it will be impossible to do.

Originally Posted by 2StgTurbine

The end is nigh!

For my entire career, I've had to sit next to people claiming that the dollar was about to collapse. Just like doomsday predictions, the date of the collapse is constantly getting pushed forward.

Pilots have been too busy becoming experts in virology, they let their global economics credentials lapse. When it comes down to it, people want to put their wealth in institutions they trust. Since we live in America, we are hyper-aware of all of our problems. That distorts our perception of reality. Do you really think China doesn't have its own crippling economic issues? I don't see any major country tying their economy to the Yuan. Our institutions may be on the decline, but the rest of the world is declining at a great rate.

Originally Posted by chihuahua

This is exactly the problem. The US govt has proven over the last three weeks that it is no longer an institution that can be trusted. Do something the Washington regime doesn't like, you get cut off from using the dollar. This is why countries will now be dumping their dollars and looking for a different unit of account to settle trade in.

Originally Posted by 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

Originally Posted by 2StgTurbine

You acknowledge the US uses the dollar as a weapon, but you aren't acknowledging that China does the same with the yuan. The only countries that will actually switch to the yuan are doing it out of desperation. That's why China is "investing" heavily in Africa and South America. Those are the only places that are willing to take that risk.

Originally Posted by rickair7777

Don't buy it. If our entire economic system depends on the Saudis dealing in dollars, we have bigger problems.