54 sats \ 1 reply \ @cristaiji 11 Jun \ on: The End Of The Petrodollar Agreement And Its Impact On Bitcoin bitcoin
This just popped up on YT.
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0 sats \ 0 replies \ @0xbitcoiner OP 11 Jun
The news article used as a source for the video is: Saudi Arabia's petro-dollar exit: A global finance paradigm shift and states as follows:
The lapsed security agreement - signed by the United States and Saudi Arabia on 8 June 1974 - establishes two joint commissions, one on economic co-operation and the other on Saudi Arabia's military needs, ...
The crucial decision to not renew the contract enables Saudi Arabia to sell oil and other goods in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. Additionally, the potential use of digital currencies like Bitcoin may also be considered.
This information seems to be related to what @k00b mentioned earlier. There is a way to know if it's true or not, which was to find out if Saudi Arabia is selling oil for currencies other than the dollar. Will this information be public?
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