Breaking: Petrodollar Cracks: Saudi Arabia Considers Accepting Yuan For Chinese Oil Sales

[MajesticPug]

I just wonder almost everyone can see it how come the White House can't?

You can't blame American politicians. They are addicted to sanctioning everyone, even God if God goes against their narratives.

 

[Qutb-ud-din-Aibak]

You can't blame American politicians. They are addicted to sanctioning everyone, even God if God goes against their narratives.

Lmao. I wouldn't even put that past them

 

[Titanium100]

A good move by the Saudis if they follow up - A good step in the right direction, Cannot have all the eggs in one basket.

Diversification is necessary but I think in this case China specifically asked for this deal and as a customer they can make requirements

 

[Qutb-ud-din-Aibak]

They lack experience and alot of it and extremely hesitant at times which can be stragetic patience but it could hurt them at the same time

Lets agree to disagree

 

[Titanium100]

Lets agree to disagree

I am not anti anyone that was just my curious observation

 

[Qutb-ud-din-Aibak]

Reported Saudi move toward yuan shows payment diversification trend amid US sanctions - Global Times

www.globaltimes.cn

 

[Titanium100]

Boris Johnson has landed in Saudi Arabia today

 

[OldTwilight]

well , maybe usa decides MBS should be eliminated now ...

this more likely scenario if he insists on implementing petro yuan ...


now , china become a threat to Iran

 

[FairAndUnbiased]

What prevents China from doing what the US currently does with its currency, by weaponizing it?

Besides, both the USD and Yuan are both reserve currencies. USD may dominate but it’s not the only game in town.

Economic reality: China needs imports of raw materials to keep the material basis of it's prosperity, manufacturing, running. So China will be forced to accept RMB payments and freezing RMB accounts means freezing itself out of resource supply chains. It is a sort of vulnerability, but creates trust.

US does not want even 0.1% vulnerability. They say they don't need to import. Ok. They have independent oil and food. Ok. Then all they really offer is paper money in exchange for everything. For them freezing accounts is costless except for the reputational hit.

Would you trust a bank that had a legal obligation to you (if they stole your money, you can sue them) or one without (if they stole your money too bad)

 

[Qutb-ud-din-Aibak]

Economic reality: China needs imports of raw materials to keep the material basis of it's prosperity, manufacturing, running. So China will be forced to accept RMB payments and freezing RMB accounts means freezing itself out of resource supply chains. It is a sort of vulnerability, but creates trust.

US does not want even 0.1% vulnerability. They say they don't need to import. Ok. They have independent oil and food. Ok. Then all they really offer is paper money in exchange for everything. For them freezing accounts is costless except for the reputational hit.

Would you trust a bank that had a legal obligation to you (if they stole your money, you can sue them) or one without (if they stole your money too bad)

What kind of trust would it create as I fail to see that

 

[Titanium100]

What kind of trust would it create as I fail to see that

It means it will create trust for the RMB being used regularly

 

[Qutb-ud-din-Aibak]

It means it will create trust for the RMB being used regularly

I don't think it will reach trustworthy that quickly because they will have to trade with Yuan in every other sector from now on

 

[Titanium100]

I don't think it will reach trustworthy that quickly because they will have to trade with Yuan in every other sector from now on

I don't think that is entirely necessary they will need others to also trade in that not just themselves by creating trust it could occur

 

[Qutb-ud-din-Aibak]

If US takes your money there's nothing you can do about it. Stopping trade with the US is in accordance with declared US interests which is why they talk about decoupling all the time and think a trade surplus is a generous favor bestowed upon you rather than your hard earned money. If you listened to US politicians they basically want you to give products to the US for free. Not for printed dollars, but for free. They hate anyone with a trade surplus over the US.

If China takes your money you can stop trading with China which is harmful to declared Chinese interests. China never believes in decoupling.

This is true as alot of money has been seized lately example 700-billion has been seized from Russia alone which amounts to direct theft and unapologetically.

Will China want to create an alternative

 

[LeGenD]

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