3/3a.) Independent Sentinel
Countries Look to De-Dollarize, Breaking from the “Demons in Davos”
4/2/23
“According to Min News, fifty-six countries, including Israel and Japan, want to de-dollarize. ...”
3/3b.) *Fox Business*
Brazil, China strike trade deal agreement to ditch US dollar
3/30/23
“Brazil and China have reportedly struck a deal to ditch the U.S. dollar in favor of their own currencies in trade transactions. ...”
3/3c.) *Nasdaq*
Petrodollar Dusk, Petroyuan Dawn: What Investors Need To Know
4/2/23
“During a three-day state visit, Chinese President Xi Jinping held friendly talks with Russian President Vladimir Putin in a show of unity, as both countries increasingly seek to position themselves as leaders of what they call a “multipolar world order,” one that challenges U.S.-centric alliances and agreements.
Among those agreements is the petrodollar, which has been in place for over 50 years.
In case you’re wondering, “petrodollars” are not a real currency. They’re simply dollars being used to trade oil. Early in the 1970s, the U.S. government provided economic aid to Saudi Arabia, its chief oil-producing rival, in exchange for assurances that Riyadh would price its crude exports exclusively in the U.S. dollar. In 1975, other members of the Organization of Petroleum Exporting Countries (OPEC) followed suit, and the petrodollar was born.
This had the immediate effect of strengthening the U.S. dollar. Since countries around the world had to have dollars on hand in order to buy oil (and other key commodities such as gold, also priced in dollars), the greenback became the world’s reserve currency, a status formerly enjoyed by the British pound, French franc and Dutch guilder.
All things must come to an end, however. We may be witnessing the end of the petrodollar as more and more countries, including China and Russia, are agreeing to make settlements in currencies other than the U.S. dollar. ...”
https://www.nasdaq.com/articles/petrodollar-dusk-petroyuan-dawn:-what-investors-need-to-know