I thought this was largely fake news that crypto sites were generating. That specifically, the US and KSA are just in the process of hammering out a new agreement. And that even if some oil contracts are in other currencies, they are still indexed to the USD.
this post was submitted on 13 Jun 2024
50 points (100.0% liked)
chat
8148 readers
177 users here now
Chat is a text only community for casual conversation, please keep shitposting to the absolute minimum. This is intended to be a separate space from c/chapotraphouse or the daily megathread. Chat does this by being a long-form community where topics will remain from day to day unlike the megathread, and it is distinct from c/chapotraphouse in that we ask you to engage in this community in a genuine way. Please keep shitposting, bits, and irony to a minimum.
As with all communities posts need to abide by the code of conduct, additionally moderators will remove any posts or comments deemed to be inappropriate.
Thank you and happy chatting!
founded 3 years ago
MODERATORS
My prediction is that people will keep getting news about the Petrodollar from sites that flog crypto and gold
The news about a 50-year old petrodollar agreement expiring that's been spreading through social media is completely made up. I think it was "BRICS News" on Twitter who first posted it, and that account is known to post fake news and never links to a source.
The petrodollar hasn't really mattered since the 70s, when the US dollar became the world's premier banking reserve currency
Well oil trade makes up part of the demand of why USD is the reserve currency no? Ofc it used to be a much larger portion of the total demand
They could just play the US and China against each other to get the best deal out of each. That's typically the playbook for regional powers in bipolar and multipolar settings.
Celtics 4-0 
I'd rather die than see the Celtics win another title
- middle east conflict expands and intensifies, news of it narrows under tight restriction by legacy media
- prices of energy, food and most consumer products steadily climb
- interest rates are raised to "cool inflation" sparking stagflation, unacknowledged by media & further entrenching institutional distrust
- class tensions heighten as newsreaders insist "economy is strong" while layoffs, homelessness, and untreated disease all trend upward
Coup in Saudi Arabia
Didn’t Trump Admin give them nuclear research?
They’re going to adapt Javier Millei Thought and accept milk and meat for oil
Didn’t even know it was happening. Maybe Israel will go to war with Saudi Arabia?
No... Iran, to them, is a bigger priority for Saudi Arabia to fuck over, so I can't hope for that...
But didnt Iran and the Saudis make a peace overseen by China or am I missing something???
I guess.. but do I remember this recently...
Then again, this won't stop them from having truce with Iran officially....
Assisting in defense is not the same as attacking. I’d wait until Israeli troops try to escalate and see where this ends
Yeah, but it does seem they're wishy washy...