😱🌍💱 BREAKING NEWS: SAUDI ARABIA ENDS 80-YEAR PETRODOLLAR DEAL WITH U.S. 🌍🚨💥

📢 Key Points:

- Saudi Arabia has terminated its 80-year petrodollar deal with the U.S.

- This agreement required Saudi oil sales to be conducted exclusively in U.S. dollars.

- Saudi Arabia can now trade oil using other currencies like RMB, Euros, etc.

💡 Overview:

Saudi Arabia has opted not to renew its 80-year petrodollar agreement with the United States, which expired on Sunday, June 9, according to media reports. This historic deal, first signed on June 8, 1974, was pivotal in solidifying U.S. global economic dominance.

🔍 Background:

The initial agreement established joint commissions for economic cooperation and addressed Saudi Arabia's military needs. American officials aimed for it to boost Saudi oil production and strengthen economic ties with Arab countries.

🔄 Policy Shift:

By not extending this contract, Saudi Arabia is now free to conduct oil and other transactions in various currencies such as Chinese RMB, Euros, Yen, and Yuan, instead of being limited to U.S. dollars. There is also speculation about using digital currencies like Bitcoin for transactions.

🌐 Broader Implications:

This decision marks a significant departure from the petrodollar system established in 1972 when the U.S. decoupled its currency from gold.

🔗 Project mBridge:

Saudi Arabia has also joined Project mBridge, a collaborative initiative exploring a digital currency platform shared among central and commercial banks. This project aims to enable instant cross-border payments and foreign-exchange transactions using distributed ledger technology.

💭 Conclusion:

Saudi Arabia’s decision to end the petrodollar agreement heralds a significant shift in global economic dynamics, potentially reshaping the landscape of global economic influence.

👇 What are your thoughts on Saudi Arabia ditching the dollar? How transformative would it be if Saudi Arabia accepted Bitcoin?