Petrodollar? Nono.. now its the PetroYuan
Saudi Arabia and OPEC+ made a sudden shocking move yesterday which may be the nail in the coffin towards ending US Dollar hegemony.
They declared that beginning of May till the end of the year, they will reduce oil production by 1.15 million barrels per day!
Russia already cut 500,00 barrels per day beginning of March till end of 2023.
This in total, 1.6 million barrels of crude oil shortage will hit the market and cause massive inflation to certain few.
Of course, we know that Russia and Saudi Arabia is part of BRICS and SCO.
Hence, BRICS friendly nations will not suffer as much because they can buy oil at discount via internal negotiations.
It is good to be in a team, riding along side top 2 world largest oil producers. We see Crude Oil spot price gap up $5 on Monday.
So, 2 moves by Saudi Arabia, cut oil production and settling oil payments via Yuan with China (in fact LNG deliveries already taken place). A big hit to USA.
Brazil now already agree to trade with China via non-Dollar currency, e.g. Yuan. Another blow to USA.
Very soon, Latin America will be the closest animosity to USA as Argentina will be next in line to join BRICS and NDB, followed by Mexico.
3 largest Latin America economies will strengthen BRICS dominance.
How can one still have hope for USA? Jerome Powell and the top 1% wants to crush their own markets & economy by purpose to usher in CBDC and kill cash & coins all together.
A currency backed by nothing, will be replaced by digital currency backed by nothing. What good can come from this?
When all things fail, they will go to war and its getting very evident now with USA & NATO constantly provoking war with East superpowers.
A multipolar world is emerging and USA hates it.
A new term is circulating the social media. PetroYuan. It used to be called PetroDollar.
Not anymore my friend. Saudi Arabia and OPEC+ is waving goodbye to you after decades of sponsoring USA the reserve currency status and you weaponize the USD, bullying other nations.
No more.
By Sifu Steve @ XeroAcademy
They declared that beginning of May till the end of the year, they will reduce oil production by 1.15 million barrels per day!
Russia already cut 500,00 barrels per day beginning of March till end of 2023.
This in total, 1.6 million barrels of crude oil shortage will hit the market and cause massive inflation to certain few.
Of course, we know that Russia and Saudi Arabia is part of BRICS and SCO.
Hence, BRICS friendly nations will not suffer as much because they can buy oil at discount via internal negotiations.
It is good to be in a team, riding along side top 2 world largest oil producers. We see Crude Oil spot price gap up $5 on Monday.
So, 2 moves by Saudi Arabia, cut oil production and settling oil payments via Yuan with China (in fact LNG deliveries already taken place). A big hit to USA.
Brazil now already agree to trade with China via non-Dollar currency, e.g. Yuan. Another blow to USA.
Very soon, Latin America will be the closest animosity to USA as Argentina will be next in line to join BRICS and NDB, followed by Mexico.
3 largest Latin America economies will strengthen BRICS dominance.
How can one still have hope for USA? Jerome Powell and the top 1% wants to crush their own markets & economy by purpose to usher in CBDC and kill cash & coins all together.
A currency backed by nothing, will be replaced by digital currency backed by nothing. What good can come from this?
When all things fail, they will go to war and its getting very evident now with USA & NATO constantly provoking war with East superpowers.
A multipolar world is emerging and USA hates it.
A new term is circulating the social media. PetroYuan. It used to be called PetroDollar.
Not anymore my friend. Saudi Arabia and OPEC+ is waving goodbye to you after decades of sponsoring USA the reserve currency status and you weaponize the USD, bullying other nations.
No more.
By Sifu Steve @ XeroAcademy
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