Dad29: Saudis Pull Plug on US Dollar

Tuesday, March 15, 2022

The Chinese Remnibi WILL be accepted as payment for oil, says Saudi Arabia.

So will the dollar, of course.

For now.

Grim said...: Well, now, they said they'd agreed to talk about it. We'll see if they actually do it. There are good arguments against accepting the People's Money (which is what Renminbi means -- "Ren" is "People," as its Chinese character makes clear: 人).

Of course there are also good arguments against the dollar these days, ever since the West decided it was a sharp idea to deactivate foreign reserves of nations like Russia. Canada got the ball rolling with freezing the bank accounts of peaceful protesters, but now even sovereign governments can have their cash frozen under this system. That was a move that couldn't have been better calculated to destroy the value of the currency.

China would do it too, though. They've probably already done it to their own people.; 3/15/2022 11:14 PM

Dad29