Death of petrodollar is a Biden legacy
Death of petrodollar is a Biden legacy
US President Joe Biden fist bumps Saudi Crown Prince Mohammed bin Salman upon arrival for a high-stakes visit, July 15, 2022 The Deep State should have been alert five years ago when Candidate Joe Biden announced that he, if elected as president, was determined to make the Saudi rulers “pay the pric...
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I think people are reading too much into this, Not much has changed really, especially since the Saudis and US were considering a defense treaty in return for recognizing Israel, which was only interrupted by the war on Gaza. Once the Israelis are done with the genocide they will get back to it. Some in the US foreign policy establishment may think the world trading in Yuan makes the Chinese economy more susceptible. All I am saying is If this was a big blow to the US economic dominance they would have done something stupid about it. Idk it could be the doomer in me.
It might not be an immediate blow, but I do think this is impactful. Saudis are also very clearly drifting towards BRICS now, and I doubt they want to keep being subordinate to US long term. It's also not at all clear Israel will survive what they started in Gaza. The war is not going well for them at all.