[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.  

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