Saudia Arabia Offers a Major Win for De-Dollarization| A Hit to Dollar’s Oil-Market Supremacy!

WELL, WELL, WELL, the financial world is poised for a significant upheaval following Saudi Arabia’s decision not to renew its 50-year Petro-dollar agreement with the United States, which expired on June 9, 2024. This monumental decision marks a pivotal shift away from the petrodollar system, established in 1972 when the U.S. decoupled its currency from gold. The original security agreement, signed on June 8, 1974, created two joint commissions (1) focused on economic cooperation and (2) on Saudi Arabia’s military needs, fostering close ties between the two nations. The lapse of this agreement signals a major transformation in global economic dynamics, with far-reaching implications. Support the Channel: Support Asia Trip: Buy my books: Check out today’s show sponsor! CSE: HEAT | OTCQB: HLRTF Disclaimer: This video was conducted on behalf of Hillcrest Energy Technologies and was funded by Gold Standard Media LLC and/or affiliates. For our full disclaimer, please visit: DISCLAIMER: My channel, “Geopolitical Trends” is purely made for Educational & Information purposes, based on facts, published articles, and personal analysis. COPYRIGHT DISCLAIMER: It is important to note that under section 107 of the Copyright Act 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, scholarship, education, and research. Fair use is a use permitted by copyright statutes that might otherwise be infringing.