... by the obscure sources or the idea that there even was a 50 year deal that could expire overnight. However he endorses the broader picture of SA gradually moving towards trading its remaining oil in different currencies, particularly the yuan. We await further clarification...

*****

https://simplicius76.substack.com/p/petrodollar-dead-rumors-swirl-as

Some really interesting developments are happening apropos the banking and financial situation in Russia and the world.

Firstly, to set the stage: there’s the rumor going around that Saudi Arabia has allegedly declined to renew its purported “50-year Petrodollar deal”, signed—again, allegedly—on June 9th, 1974.

https://www.thegatewaypundit.com/2024/06/us-saudi-arabia-petro-dollar-pact-ends-joe/

The problem is, there is no actual valid source reporting this: if you trace it down to its roots, it is originating from a bunch of fake obscure websites, like the old Sorcha Faal whatdoesitmean dot com types.

Sure, some fairly legitimate sites like Gateway Pundit are reporting it, but they are merely echo-chambering the story without a valid source. So, unfortunately, this story appears to be mostly fake. However, I think it’s mainly riffing on real events that have already been taking place. There doesn’t seem to be any precise 50 year deadline that just happened to expire days ago, but rather Saudi Arabia has already signaled that the deal is in effect null and void over the course of the last few years.

But the reason the story is actually extremely relevant either way, despite being a somewhat phony formulation of real ongoing events, is because of the other huge developments that are now breaking ground as we speak, and how the Saudi Petrodollar critically plays into it.

[...]

In short, all the current snowballing events are gearing up to potentially effect a massive black swan moment in 2025, which may shake the foundations of the entire Western financial system off its rails. And that’s where the Saudi situation comes in: KSA now sports full BRICS membership and has previously signaled willingness to accept Yuan for oil sales to China, so we know—at the least—the suggestion of Petrodollar demise is not conspiracy theory:

The big question is not where things will go, but how fast: their trajectory is nearly certain, it only remains to be seen how quickly the BRICS-adjacent countries can agree on mechanisms and muster the initiative to implement them into actual practice.

For decades the idea of abandoning the Dollar seemed ludicrous, particularly to smaller, less powerful nations who do not possess as much agency as a superpower like Russia. But now that Russia is showing them the way, pioneering the path forward and demonstrating there is nothing scary about breaking through that mental barrier of imposed colonial slavery and financial hegemony, we can expect the remainder of the world to quickly follow Russia’s lead; once the specter is shattered, it is akin to breaking through a psychological support floor or resistance ceiling in the stock market, after which things can plummet or skyrocket with an unpredictable runaway velocity.

In essence, the idea being conveyed is that we’re coming upon a time where it seems everyone is doubling down, going all in with their trump cards and ‘showing their hand’ in the parallel financial shadow war raging beneath the surface of the kinetic one. Russia clearly isn’t begging forgiveness and has instead doubled down on the dedollarization acceleration drive. It’s only a matter of time before things begin to unravel for the side left holding the skimpy cards, or whose bluff is called. Given that Russia and China’s fundamentals are sterling compared to that of the West—and in particular the U.S. with its outrageously swelling 126% debt-to-gdp—when it comes to debt structure, economic growth, unemployment, inflation, and all other key metrics, it’s clear to see who will be left with their pants down in the near future. That’s not to mention the bloodbaths we’re witnessing in global politics, with the deepstate-controlled factions taking a hiding, which will only be culminated by the Democrat’s presidential loss in 2024. In almost every way conceivable, 2025 stands to be a historic turning point year.