Jaio Bai Deng: “I did this! And I pissed off Saudi Arabia too and into the arms of BRICS.”
Imagine if Saudi Arabia demanded US customers pay Chinese Yuan for the oil they buy?
That would be quite a middle finger to Pedo Joe.
Oh well, offshore good paying jobs for decades to China for their cheap labor, an economic juggernaut is made, and now to this.
Trump tried to bring the jobs back, and did alot of them, but the globalists would have none of it.
Diaper Boy had done everything he can to cripple America. He is EVIL to the core.
So what happens to all those billions and billions of dollars that aren’t needed over there?
I suppose they come over here, and push interest rates to the moon. I’m not smart enough to know exactly, other than it can’t be anything good.
Sorry, deals between nations will exist using non-dollar currencies, but the majority of the world doesn’t trust the currencies of other nations. Too much manipulation of the value of the currency involved.
ESPECIALLY the Yuan.
Yeah, say what you will about the dollar but it’s the least smelly shirt in the laundry.
This article misses the most important aspect of the petro dollar: The Saudis would take those dollars and buy treasuries. THAT is what kept the dollar the king of the hill.
Have these countries started buying China or Russia bonds?
"Speaking of gold, you’re invited to join me March 29 for a webcast entitled “Is Now the Time to Switch to a Different Gold ETF?” To get the full details and save your seat, just email me...
I especially like the urgency of the threat.
"U.S. dollar remains the world’s top reserve currency for now, though its share of global central banks’ official holdings has slipped in the past 20 years, from 72% in 2001 to just under 60% today. By contrast, the yuan’s share of official holdings has more than doubled since 2016. The Chinese currency accounted for about 2.8% of reserves as of September 2022.
It's especially scary next to the chart showing yuan reserves held around the world have actually dropped recently.
I think there could be some changes in the dollar's role as the reserve currency but it won't be replaced by the yuan as long as China is governed by the CCP.
“… y, a status formerly enjoyed by the British pound, French franc and Dutch guilder.”
These were all backed by gold. The US dollar was, but then abandoned the gold standard. Currencies are now only worth the goods they will buy. China might be able to get 2nd and 3rd world countries to accept yuan because they make cheap basic stuff. Trade in high tech will only be in euros, pounds, and dollars(plus a few others). The yuan or ruble or any of the other BRICS currencies will always be second-tier money, good enough for a cheap cell phone, but not a good one.
It's Xiden's job to "Manage The Decline."