Saudi Arabia will not renew the petrodollar agreement with Biden?

Recently, there was news that Saudi Arabia may not renew the petrodollar agreement with the Biden administration, which caused an uproar in the American public opinion. If this really happens, we may first see fluctuations in stablecoins pegged to the US dollar, such as USDT and USDC, which may become restless. At that time, everyone may panic and turn to Bitcoin or other more stable investments, such as gold and silver, especially considering China's recent large-scale gold purchases, which feels like preparing for a rainy day.

However, this matter should not be turned upside down overnight. We have to calm down and see how the market reacts next week or even in the next few weeks. After all, the transaction conversion between countries is not as fast as a one-click switch. The impact will come slowly, and it will not change overnight.

But then again, if this fifty-year agreement is really over, the global economic map will definitely have to be redrawn, and the impact is far-reaching.

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