It appears that a lot of folks here do not understand that without Saudi backing the US dollar is WORTHLESS. This could be a very very bad thing for the US economy. The only thing we really export bysides airliners/weapons is dollars. And the only reason we can export dollars is they are needed to buy Saudi oil. Should that change then the world will no longer need (or want) dollars and the value of a US dollar will drop to near nothing.
The Saudi's don't need no stinking dollars, they're worthless. The BRICS nations are going to trade gold for oil. Turn out the light, the party's over.
LOL!
What are they going to declare the “new reserve”?
The Yuan?
The Yen?
The Euro?
ROTFLMAO!
Talk about absolute chaos in the financial markets!
(Which deserves a reckoning, BTW)
I would be very happy if the international monetary exchange rates returned to rational levels.
That way, the USA would no longer be used as the evil external enemy, who all other nations must strive against, by the various stupid socialist leaders of those foreign nations.
I say make the Yuan be the baseline!
They have a billion people, right?
Let their government tax them to feed the starving people in Africa!