Will Saudi Arabia Ditch US Dollar?

Рет қаралды 4,925

Күн бұрын

The expiration of the 50-year-old petrodollar agreement between Saudi Arabia and the United States on June 9, 2024, signals a profound shift in the global economic landscape, potentially undermining the US dollar's dominance in international trade. Established in the 1970s, this pact ensured oil sales were conducted in dollars, bolstering the currency's status as the world's reserve currency. With Saudi Arabia now selling oil in multiple currencies, including the Chinese yuan, euros, and yen, the global financial order faces significant realignment. This transition highlights the growing influence of emerging economies and alternative currencies, challenging the long-standing supremacy of the dollar. Motivated by geopolitical tensions, economic security considerations, and sanctions, countries are increasingly seeking alternatives to the dollar, as exemplified by China's use of the yuan in trade with Russia and Saudi Arabia's expanding ties with China. Additionally, the rise of central bank digital currencies (CBDCs) further complicates the traditional dollar-based system. As the global energy landscape shifts and the demand for renewable sources grows, the ramifications for the dollar and US financial markets are profound. Investors and policymakers must navigate this new multipolar economic era, where the once-unquestioned dominance of the US dollar is now uncertain. Like, comment, and subscribe for more in-depth coverage of global economies and geopolitics. Watch complete video and do not forget to visit our channel for more interesting videos.
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0:00 Saudi Arabia to Ditch US Dollar?
0:58 The End of an Era
2:07 The Decline of Dollar Dominance
5:06 Motivations Behind the Shift
6:44 The Rise of Central Bank Digital Currencies
7:26 Historical Context and Future Projections
8:09 Broader Implications
8:57 The Impact on Investors
10:16 The Challenge of Transition
10:55 End Note
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#petrodollar #saudiusdefence #saudichinapetroyuan #petroyuan #dollardominance #usa #saudiarabia #china #russia
Disclaimer:
The content in this video reflects the author(s)' thoughts and does not represent the official viewpoint of The Pacific Report; viewers are recommended to conduct their own research and seek expert advice before relying on the information provided.

Пікірлер: 42

@PacificReport 21 күн бұрын

What makes Qatar the richest country? kzfaq.info/get/bejne/h92modGnybG-kqM.html

@leeliu6867 20 күн бұрын

50 year of terror is finally come to ceased.

@saehian 20 күн бұрын

This world belong to everyone not West only. Way to go BRICS.

@gohkianhui3997 20 күн бұрын

Will? Already done pal.

@fallinloveatfirstdream4222 21 күн бұрын

This shift is not only promising but also essential for the betterment of our world. Collaborative efforts like those within the BRICS group hold immense potential. If these nations unite with a shared vision for peace and stability, it could herald a new era of global harmony. Such unity would not only benefit developing and underdeveloped countries but also pave the way for a more peaceful world for all.

@fallinloveatfirstdream4222 21 күн бұрын

Israeli lobbyists currently play a significant role in shaping American foreign policy, contributing to economic challenges in the country. This influence has led to strained relations with various nations, including China, Russia, and the Muslim world. The prevailing third-class mentality and Zionist ideology guiding American foreign policy are concerning, marking a dark chapter in the nation's history. The country's current hardships underscore the urgent need for a shift in approach. By acknowledging these realities, one can gain a deeper understanding of global affairs and pave the way for a more successful future.

@MrSheikh778 20 күн бұрын

Dalka Batroolka ugu dhoofinta badan waa Rususha wayna iska tureen dollarka hadii ay Saudi Arabia iska tuuraan $ calaamka oodhan uma baahna dollar

@user-uy6yu6mm5r 21 күн бұрын

Good moves done by Saudi Arabia.Don't totally dependent on US dollar

@oxvendivil442 21 күн бұрын

At last!

@fallinloveatfirstdream4222 21 күн бұрын

In recent times, there has been a noticeable trend of American interventionism, where the pursuit of war and economic interests seem to intertwine. However, China is taking a different approach by extending support to developing nations, aiming to reshape this paradigm. Instead of profiting from conflicts between nations, China is investing in global development.

$@geofractal$

@geofractal 20 күн бұрын

Oh brother, the music!

@IbnBahtuta 21 күн бұрын

Only partially, for the time being.

@user-dv9pc4rx7v 20 күн бұрын

Saudi Arabia underMBS HAS ASSERTED IT'S PLACE IN THE WORLD

@ahh59823 20 күн бұрын

bye bye bye Dolar hahahaha

@ahmadpavilion1291 20 күн бұрын

Why not petroRiyal Unpeg the dollar

@MyVoice-bn1vj 21 күн бұрын

kick out u.s. dollars, because we all country nations support with Chinese Yuan good for all China Russia global world orders, strongly central asia, south east asia, middle east, and Africa they have stand with Yuan currency

@baykal6 19 күн бұрын

No, not the yuan, the Brics countries are creating a payment system based on physical gold, we do not need either the Fed or swift, because there are SBD and digital tokens in gold and silver, which will become a means of converting national currencies! The BRICS countries are officially switching to trading through gold

@igorgarcia3471 20 күн бұрын

😂 already done 😅

@ethiehetherington5086 21 күн бұрын

Saudi Arabia will surely be regretting it if they do ditch the dollar, and that also shows they are lacking loyalty with the country that helps them a lot in many ways.

@mahdi6416 21 күн бұрын

You said "Saudi Arabia will surely be regretting " Does that means USA will envede Saudi Arabia just like Iraq or USA will trigger internal detestablize just like Libya??

@AnhNguyen-hn9vj 21 күн бұрын

@@mahdi6416 of course, they will. I think Saudi Arabia also know it. However, Saudi also know that sooner or later USA will delete them to protect Israel. The same is with Iran. not sure how they protect themselves with all those money and oil resource. Iran have good alliance with the Russia. Even Turkey said that the USA is having them on the black list or something like that. It is one crazy world these days.

@mahdi6416 21 күн бұрын

@AnhNguyen-hn9vj Now a days the world has changed a lot. I don't think that BRICS is not only about a trade. Let us wait and see the BRICS summit of October 2024.

@ethiehetherington5086 21 күн бұрын

@@mahdi6416 I don't think that the U.S. will do that, but that the BRICS currency will become another Euro. But I guess that is the Saudis decision to join in. The dollar may not be strong as it used to, but it will survive.

@irritatedanglosaxon1705 21 күн бұрын

Why regretting? That's not their currency

@charlesnone4628 20 күн бұрын

reports in the news say that petrodollar is in play and they will maintian it. I guess that will ruin a dictators day.

@baykal6 19 күн бұрын

The main dictator of the world is Joe Biden, or rather, the deep state! The Brics countries are creating a payment system based on physical gold, we do not need either the Fed or swift, because there are SBD and digital tokens in gold and silver, which will become a means of converting national currencies!

@ms7227 13 күн бұрын

Blah blah blah. Just complain, do. Nothing. The USA way.

@user-tf6mf2qp5b 20 күн бұрын

11month ago usa was saying the dollar will always be reserve currency, 11month after usa leaders foot is in their mouth,cause they cant believe how saudi hit them😂😂😂😂😂😂😂😂only thing usa might want to do is go to war with saudi but,things different now than 50yrs ago😂😂more nuclear power countries around😂😂😂