Date: 2023-03-31T16:15:01Z Creator: Bitfolio Academy
Nobody’s talking about Saudi Arabia partnering with China and the threat to the US Dollar’s Status as the Global Reserve Currency. First Saudi Arabia agreed to only price their oil in US dollars in exchange for US military protection from their enemies. But since Russia started working with China to bypass the West’s embargo and sell oil directly to China in exchange for Chinese Yuan, now the Saudis are in talks with China to do the same. China wants nothing more than to expand the use of their currency. So, Will the Saudis turn their back on the US and start pricing their oil in the Chinese RMB? China gets their oil primarily from Saudi Arabia, Russia, and Iran. I think they are already accepting Chinese currency for their oil. I’ll keep you updated.
Let me know in the comments. 🤔
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