Russia Ukraine war, page-9303

@Crom Valen

Well, I am happy you brought it up.

As I was waiting for someone to prompt this, so I can connect it to the current crisis.

The Petrodollar came about through a deal between the US and KSA, whereby the US provide "Security Guarantees" to KSA, and in return the Saudis would price all of their oil sales in USD.

Security Guarantees: now, where have I heard that comment recently?!?

Could it have been Russia/Ukraine issue?

Lol.

Any way, the US has been able to grow at unprecedented rates since that deal; being able to print Trillions of dollars out of thin air, at next to no cost (extremely low interest rates).

So a change by KSA, will have a cascade effect. Many countries with the Gulf States will follow KSA.

This will stem its (the US) ability to borrow money at next to very low interest rates.

Instead, interest rates will rise, inflation will rise (more than now) and USD will fall off a cliff.

Going to be fun when that day eventuate.

So will Biden apologize to MBS or do a regime change in KSA?