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Big! Petrodollar Cracks: Saudi Arabia Considers Accepting Yuan For Chinese Oil Sales

MARCH 15, 2022 ALGORA BLOG - BY TYLER DURDEN via zeroHedge

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One of the core staples of the past 40 years, and an anchor propping up the dollar’s reserve status, was a global financial system based on the petrodollar – this was a world in which oil producers would sell their product to the US (and the rest of the world) for dollars, which they would then recycle the proceeds in dollar-denominated assets and while investing in dollar-denominated markets, explicitly prop up the USD as the world reserve currency, and in the process backstop the standing of the US as the world’s undisputed financial superpower.

Those days are coming to an end.

One day after we reported that the “UK is asking Saudis for more oil even as MBS invites Xi Jinping to Riyadh to strengthen ties“, the WSJ is out with a blockbuster report, noting that “Saudi Arabia is in active talks with Beijing to price its some of its oil sales to China in yuan,” a move that could cripple not only the petrodollar’s dominance of the global petroleum market – something which Zoltan Pozsar predicted in his last note – and mark another shift by the world’s top crude exporter toward Asia, but also a move aimed squarely at the heart of the US financial system which has taken advantage of the dollar’s reserve status by printing as much dollars as needed to fund government spending for the past decade.

According to the report, the talks with China over yuan-priced oil contracts have been off and on for six years but have accelerated this year as the Saudis have grown increasingly unhappy with decades-old U.S. security commitments to defend the kingdom.

The Saudis are angry over the U.S.’s lack of support for their intervention in the Yemen civil war, and over the Biden administration’s attempt to strike a deal with Iran over its nuclear program. Saudi officials have said they were shocked by the precipitous U.S. withdrawal from Afghanistan last year.

China buys more than 25% of the oil that Saudi Arabia exports, and if priced in yuan, those sales would boost the standing of China’s currency, and set the Chinese currency on a path to becoming a global petro-yuan reserve currency.

And so the pieces of the endgame are falling into place: Russia starving being denied selling the western world the much-needed resources, sending commodity prices ever higher, while its silent partner China quietly picks up the pieces and takes advantage of Russia’s isolation to approach all those other “non-western” former petrodollar clients to offer them a new product, the yuan, which Beijing is now actively and aggressively pushing to dethrone the dollar as a global reserve currency.

More to follow...

PETRODOLLAR COLLAPSE: Putin Announces Oil And Gas Sales In Rubles

welovetrump - by Vince Quill  01 April 12.00  

I have been warning about this for a long time, and I am shocked that this isn’t the only thing we are talking about right now.

The petrodollar system has effectively just collapsed with Vladimir Putin’s recent announcement that hostile nations will have to pay for Russian energy in Russian Rubles.

This decades-old system has essentially been upended with this announcement, as no serious challenge to the U.S. Dollar’s dominance of the oil trade has ever been successfully issued.

The demise of the Dollar as the global reserve currency is further compounded by reports of nations like Saudi Arabia mulling over pricing oil in the Chinese Yuan, as opposed to a now overprinted and ailing Dollar.

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Critics of Putin will no doubt say that this recent announcement will have no impact on the price of the Ruble, or the future of the U.S. Dollar, but if this were true the price of the Ruble would not have recently retraced to pre-war levels…

So far, many of the G7 nations have outright denied Putin’s request, but as I stated earlier this is a bold move that will likely embolden others to follow suit, and to issue their own challenges to U.S. Dollar supremacy in energy trade. Follow on Telegram @WeLoveTrumpNoah

All of this isn’t even considering the profound and revolutionary effect of cryptocurrencies and digital assets in global trade moving forward.

Stolen elections and rampant money printing have very real and very serious consequences—just take a look:

The Epoch Times reports:

“In order to purchase Russian natural gas, they must open ruble accounts in Russian banks. It is from these accounts that payments will be made for gas delivered starting from tomorrow,” Putin said in televised remarks.
“If such payments are not made, we will consider this a default on the part of buyers, with all the ensuing consequences. Nobody sells us anything for free, and we are not going to do charity either … that is, existing contracts will be stopped.”

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The Wall Street Journal states that the Russian Ruble has retraced its lost value to pre-war levels:

The Russian ruble strengthened close to its preinvasion level against the dollar Thursday—a byproduct of the central bank’s tight control over the currency. Also at play, a possible surge of quarter-end payments for Russia’s commodity exports.
The quick rebound of the ruble surprised some who expected that Western sanctions targeting Russia’s financial system would cause prolonged weakness in the currency.


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WHO and WHAT is behind it all ? : >

The bottom line is for the people to regain their original, moral principles, which have intentionally been watered out over the past generations by our press, TV, and other media owned by the Illuminati/Bilderberger Group, corrupting our morals by making misbehavior acceptable to our society. Only in this way shall we conquer this oncoming wave of evil.




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