The Chinese are getting cut rate oil and gas from Russia. They tell Biden and Kerry whatever they want to hear but in reality burn whatever they get their hands on to generate electricity and heat,
Say goodbye to USD very soon.
Bingo. Too good a deal to pass up and they aren’t motivated to anyway.
I doubt the rate is cut. It’s probably higher. A commodity doesn’t really lose It’s value when there is still demand. This is why people hold gold. I suspect oil is the same. People aren’t going to stop buying, they’ll just stop buying with fist currencies. My opinion is the swift move is that it’s billish if you are against globalism because it will weaken international banks and their institutions. The real question is, if you sanction energy suppliers will the demand for their commodity go down? I suspect not. Iraq had oil for food programs. If you can still get everything you need without using a specific currency does it actually matter? Willing to learn more.
“The Chinese are getting cut rate oil and gas from Russia. They tell Biden and Kerry whatever they want to hear but in reality burn whatever they get their hands on to generate electricity and heat,”
Paying in Euros.