🚨 Important Alert ⚠️
Recent headlines suggest that "Saudi Arabia has informed the Biden administration it will not renew the petrodollar agreement," causing widespread concern across the U.S. This decision could significantly impact the global financial landscape.
One immediate effect we might observe is increased volatility in stablecoins pegged to the US dollar, such as USDT and USDC. Investors may start shifting their assets from these stablecoins into Bitcoin and away from the dollar, favoring gold and silver in the global markets. Notably, recent reports of significant gold acquisitions by China suggest they may be preparing for major economic changes.
However, it's unlikely that these developments will cause an overnight transformation. We should monitor the market’s reaction starting Monday and over the coming weeks. Many future contracts between countries are dollar-based, so the full impact may take time to materialize and might not be as abrupt as some predictions suggest.
Nonetheless, the end of this 50-year agreement will undoubtedly have a profound effect on global economic dynamics. Stay tuned and watch how this unfolds in the coming days and weeks.