Monday, November 21, 2022

Death of the PetroDollar?

Energy Intelligence: Oil Pricing Without Dollars: Is It Possible?

How much does it matter whether oil is priced in dollars? What are the alternatives, and how vulnerable is dollar pricing?  Who would suffer — or gain — most if dollars ceased to be the automatic medium for oil exchange? Those aren’t questions people have thought about much since the so-called “petrodollar” agreements of the mid-1970s. But with Russia already off dollar pricing and relations strained between Washington and Riyadh, they now demand consideration. Such “de-dollarization” of oil may never happen; the world may abandon oil before oil abandons the dollar. But then again it may. A unified replacement, such as the Chinese yuan, isn’t feasible. [OH, I'm not so sure about that! See the RT story at the end of this post. - DD] Market fragmentation — another assault on the globalized world oil did so much to help create — is a more likely result.

Market fragmentation? Maybe. Or maybe, instead, an intentional plan by globalists to destabilize and crush the dollar? They've been working on this for decades. What better commodity to leverage and accomplish this? Petrol, of course! The only other would be the food supply, but the Elites don't care if others starve as long as their HVAC works, they have food and their private jets run.

Trusted Broker: Why is the U.S. Dollar being the world currency?

China and Russia requested a new world currency in March 2009.

RT: Russia and China to abandon dollar in energy trade – Moscow.

The two nations have been promoting settlements in their national currencies.

Energy trade between Russia and China has been steadily growing and is up 64% in monetary terms so far this year, Russian Deputy Prime Minister Aleksandr Novak told the Rossiya 24 TV channel on Friday.

His comments followed a meeting of the intergovernmental Russian-Chinese commission on energy cooperation.

“China is our strategic partner in the Asia-Pacific region and generally in trade,” he said, noting that in physical terms the increase was about 10% in supplies of oil, gas, coal, and electricity.

The deputy PM explained that the two countries aim to further develop trade relations, and in particular are working on expanding the share of national currencies in energy transactions.

“We are switching to settlements in rubles and yuan for the energy resources supplied,” Novak said.

"...and the Yuan." Uh-huh. There it is and here we are. But - hey, look over there! Russia and Ukraine! "We" have to stop Russian aggression and give Billions to Ukraine Nazis because..."reasons..."

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