⚠️ Very important ⚠️

There's a buzz across America with headlines claiming, "Saudi Arabia has informed the Biden administration that it will not renew the petrodollar agreement."

If true, the first thing we might notice is the fluctuation of stablecoins pegged to the US dollar, such as USDT, USDC, and others. As a result, people could start fleeing these currencies to buy Bitcoin in the cryptocurrency markets, and similarly, there could be a rush to buy gold and silver in global markets. Interestingly, recent reports have highlighted massive gold purchases by China in recent months, suggesting they might be preparing for something significant.

While it’s unlikely that events will unfold overnight, we should closely watch the market's reaction from Monday and in the coming weeks. Given that future contracts settled in dollars still exist between countries, the impact might be gradual rather than immediate, despite some of the exaggerated predictions.

However, the non-renewal of this 50-year agreement could certainly shift major economic balances.

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