BREAKING: SAUDI ARABIA ENDS 80-YEAR PETRODOLLAR DEAL WITH U.S.ïżœ
How awesome would it be if Saudi would accept $BTC
đ What are your thoughts on Saudi Arabia ditching
Saudi Arabiaâs decision to end the petrodollar agreement marks the beginning of a significant shift in global economic dynamics. This move can reshape the landscape of global economic in terms of reserve currency đŽ
ïżœ
Saudi Arabia has also joined Project #mBridge , a collaborative initiative exploring a digital currency platform shared among central banks and commercial banks. This project aims to facilitate instant cross-border payments and foreign-exchange transactions using distributed ledger tech
đ Project
This decision signifies a significant departure from the petrodollar system, which was established in 1972 when the US decoupled its currency from
đ Broader Implic
By choosing not to extend this contract, Saudi Arabia is now free to sell oil and other goods using various currencies such as the Chinese RMB, Euros, Yen, and Yuan, instead of only US dollars. There is also speculation about the potential use of digital currencies like Bitcoin for transact
đ Shift in P
The original deal set up joint commissions for economic cooperation and addressed Saudi Arabia's military needs. American officials hoped it would incentivize Saudi Arabia to increase oil production and strengthen economic ties with Arab countr
đ Backg
đĄ Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, according to media reports. This historic agreement, initially signed on June 8, 1974, played a crucial role in establishing US global economic domina
- Saudi can now use other currencies like RMB, Euros,
- Deal allowed Saudi oil sales in US dollars on
- Saudi Arabia ends 80-year petrodollar deal with the
For more follow @ali-213
