The 50-year petrodollar agreement between the United States and Saudi Arabia that designated the U.S. dollar as the global-trade currency for oil sales ended on June 9. The U.S. dollar was essentially the “gold standard” of the global oil trade. Now this is no more, renewing concerns about “de-dollarization” and the future of the American economy.
“Oil exporters settle sales in U.S. dollars because the dollar is the most widely used currency, making it easier for them to invest export proceeds,” explains Investopedia.
Last year, the Heritage Foundation blamed U.S. sanctions for the continued decline of the dollar. Economist Peter St Onge noted that “unprecedented U.S. sanctions against Russia — designed as retribution for Vladimir Putin’s invasion of Ukraine — have been driving friendly countries, from Brazil to Saudi Arabia, away from the dollar and into the arms of the BRICS coalition of anti-dollar nations led by China.” […]
Read the rest of this story here: thefederalist.com
The Biden Regime and Globalists Don’t Want You Owning Precious Metals
Look around. Things aren’t the way they should be. Between Pandemic Panic Theater, Ukraine, food shortages, and a push for Central Bank Digital Currencies, everything you’ve spent your life building and protecting is in jeopardy.
Precious metals are historically the most reliable and safest hedge against economic turmoil. With the Biden regime and globalists enhancing the chaos, it’s important for patriotic Americans to take control of their financial future.
Ira Bershatsky offers consultations to those who want to invest in precious metals. During these consultations, he will match your current financial situation with the best physical precious metal purchases whether you want to rollover your IRA or have coins discreetly shipped to your home. You will not talk to a telemarketer or sales rep. You will talk to a true expert in precious metals with decades of experience helping people protect and advance their wealth.
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