[webinarian]

1. Saudi discard petro$. This is the key support for US$ as the only international trading currency. 1/4 of saudi oil output is sold to China, with the RMB in hand after oil sale, Saudi will have to buy Chinese goods with the money earned. Use of USD will be substantially reduced.      

2. Saudi will not be completely at US command. The recent refusal to pick up the call from Biden is a good example. The same for UAE.   

3. The recent freezing of Russian tycoons' money made Saudi to take precautions. Saudi Royal family has a lot of assets in US, the action by US frightened many foreign tycoons. Their asset can be 0 overnight.  

4. Collapse of USD is imminent.  

.

[Scythian]

Singapore govt can buy crude oil from Saudi Arabia and now, pay in Chinese RMB to People's Bank of China Beijing W/O involving US$.

[cityhantam]

Assmerica and the West have broken the trust in the norm in  international finance, business, property ownership, etc.

ALL shattered!

Any government's asset or anybody's personal finances in whatever form as well as properties can be seized as they wish!

[Scythian]

Assmerica and the West have broken the trust in the norm in  international finance, business, property ownership, etc.

ALL shattered!

Any government's asset or anybody's personal finances in whatever form as well as properties can be seized as they wish!

A large portion of Singapore's national Reserves is US$ and  US Treasury bonds

[maxsanic]

The key development is China has become the first world power that has the capability and willingness to engage with ALL middle eastern countries ever since their formation post WW2. All the previous powers like UK/France/US/Russia have generally adopted a divide and balance strategy, this has resulted in no particular middle east country being able to completely defeat another one. They are always in a delicate power equilibrium that can blow up any time.

This is the fundamental reason why conflict has persisted in middle east to this day and also the main reason why the ability of US/UK/France/Russia to provide security, weapons and trade avenues has an appeal amongst countries that are allied to their "parent". China brings a completely different proposition to all countries, it is not interested in pitting one middle east country against another and prefers stability to do business and make money.

This introduces a strong incentive for ALL middle eastern countries to work with China and also reduces the value security providers like US can bring, that's why all of them are slowly losing interest with what US can bring to the table. Iran, Iraq, Syria, Saudi, Palestine, Israel, UAE, Turkey, Egypt - None of the other 4 UNSC permanent members can work with ALL of them at any one time.

[kokee]

all these moronic comie jokers, so panic & desperate.
only to china orto the world? LOL LOL.
saudi? If their petrol $$ change to RMB, then US will pull out all their jet & base, let Iran & Iraq take over their country or asl Israel to send a troop to bomb, they will finish.
oil is not so  important resources after 2030 when global turn to mostly Electric car, also US has too much shale oil all  over. Green energy & environmental will prevail.
RMB? once kena sanction like worthless Ruble, coming, you think saudi so stupid & dont know anything?
This will make china kena sanction faster, draw into war anytime, china will kena attack soon, dont blame & complain.



沙特石油交易用人民币？

all these moronic know nut comie dogs can only spam lies from communist sources to brainwash morons here.
use RMB sell to china only, how much china can buy from saudi & Russia? most of china demand already get from Russia, saudi get shit?
Now shenzhen lock down, oil demand dive straight down, oil price plunges almost 20% now, what happen when china kena snaction & all foreign company pull out from china 100% like Russia, still got oil demand? this will not be too long from now.
all these moronic comie dogs just spam nonsense & know nut, globally no one care.

[simpleman]

In 1973, the Saudi King agreed to sell oil only in USD. In 1975, Opec followed suit.

The Saudi agreement came with one condition - the US will provide protection to the Saudi Monarchy through the US military power.

Fast forward to today. Saudi is under new management. King Salman was the first Saudi monarchy to make an official visit to Moscow bringing with him a large entourage. The writing was on the wall.

Hi son, the young MBS who is now the de facto ruler is unlike any of his ancestors. He launched 2 wars. First in Yemen, the money vortex. Next, he launched the Oil War to kill US shale oil, but in the process bankrupted his kingdom.

Importantly, the US failed to live up to its part of the deal - protection of the monarchy. This failure was publicly demonstrated several times when Yemen's Houthi drones and missiles hit parts of Saudi when US air defenses failed to intercept them.