President Joe Biden Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Joe Biden

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Thomas M.	6/15/2024 9:14:18 AM
	of 12175

Saudi Arabia Chooses Chinese Yuan Over US Dollar The 50-year Petrodollar era between Saudi Arabia and the United States has ended. The emergence of the Chinese yuan as a challenger to the dollar’s dominance raises interest. Reports from foreign media and industry sources on the 14th reveal that the Petrodollar agreement between Saudi Arabia and the United States expired on the 9th. This is due to Saudi Arabia’s decision not to renew the agreement. In 1974, the two countries entered a Petrodollar agreement, using only dollars for oil payments, while the United States assumed responsibility for Saudi Arabia’s security. Oil-producing countries in the Middle East, which supply oil globally, established the so-called Petrodollar recycling mechanism by reinvesting dollars in U.S. Treasury bonds and financial markets. This process further solidified the Petrodollar system, reinforcing the status of the U.S. dollar as a reserve currency and securing the power to control the global oil market. [continued ...] msn.com Tom

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next