The Suez crisis was the final death knell of the British Empire
and the debunking of the Pound Stirling as a quasi reserve
currency.
Saudia Arabia's nationalisation of its oil was a stroke of genius
because it happened a a time when all the focus was on the Israeli/
Egyption crisis.
Saudi Arabia and its citizens have prospered since and two years
ago the Saudi's floated (privatised) a fair share of its oil in anticipation
of the negative impact of climate change policies grobally will have
on the price of oil (bet hedging)
But back to the topic of the impending demise of the USA.
IMO the canary in the mine is the Greenback and as that gets
pushed back from being the Global Currency, so will America's
power globally wane.
Just imagine what would have happened if the Greenback hadn't been the
Reserve Currency since the US GFC? America would be gutted with inflation
(USD depreciation) due to its printing of over $23 Trillion of paper money.
Just keep a eye on the Price of Gold (POG) which will foreshadow the demise of the
USD, IMO.
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