https://antiimperialistnews.substack.com/p/de-dollarisation-could-spell-the
But it could also trigger World War III
Jun 22, 2024

Saudi Arabia makes the decision to abandon the petrodollar and suddenly we’re hearing a lot more about Saudi Arabian involvement in 9/11? Call me a crazy conspiracy theorist, but I don’t think this is a coincidence. All I’m saying is don’t be surprised if a lot more information about 9/11 suddenly comes to light…

Saudi Arabia has basically had impunity for 50 years, thanks to the petrodollar deal to make the US dollar the world’s reserve currency. The constant demand for the dollar meant the US could print as much money as it likes, giving it an unlimited military budget. The deal was that the US would militarily support the House of Saud, ensuring it remained in power, no matter how many heads it chopped or how many women it lashed. Yay freedom!

The Saudis had agreed to exclusively use greenbacks to sell crude oil since 1974, after the Nixon administration abandoned the Bretton Woods system. Those greenbacks were turned into bonds to stabilise the US economy and control the inflation that emerged during the Vietnam War years. The US needed to ensure it could afford to keep bombing countries whose leaders didn’t do as they were told.

Back then, it made more sense for the dollar to be the global reserve currency because the US made up 36% of the world’s economy, but this has fallen to 24% and will continue to fall, no matter how many people wear hats saying Make America Great Again! Of course, the deal was never going to last forever because at some point, we were going to have to shift to energy alternatives.

Saudi Arabia has finally opted for currency diversification and made the decision to join BRICs - an alliance of countries who are sick of US economic hegemony and aim to set up a new reserve currency that would take away American power to unilaterally impose sanctions. When your assets are in dollars, the US can cut them off whenever it wants to. This means the US can weaponise access to money and cause big problems for any country that doesn’t obey. No wonder Saudi Arabia is opting for currency diversification. Who wants to live under the thumb of the US forever?

The Saudis are working on a new global payment system called mBridge with China, which is now its biggest oil partner, accounting for more than a fifth of its oil exports. China has surpassed the US as the world’s biggest economy and the shift away from the dollar will turn that gap into a chasm.

In 25 years, the dollar has fallen from 71% of global reserves to 59% and that trend is only going to continue. The trend of de-dollarisation is the reason Taiwan is being armed up to the eyeballs and we are so close to World War III.

Without the petrodollar, the US currency would not have its disproportionate strength and would instead perform like you would expect of a country of its economic output. De-dollarisation could collapse the military industrial complex, but the warmongers are hardly going to go down without a fight, are they? I mean it’s not in their nature!

The media never even mentions the petrodollar because they want you to think the US empire is built around freedom, democracy and having the fairest possible economic system. What it actually has is a monopoly built on military might. The US economic system is no more ethical than the Roman empire was - having the strongest military is not the same as being the good guys.

The petrodollar deal was enough to blow the lid off the idea that American intentions in the Middle East had anything to do with freedom and democracy. The US was willing to prop up one of the most brutal dictatorships in the world, and any other dictatorship that got behind the might of the dollar. As soon as any country threatened the dollar’s dominance, they found themselves in trouble. Saddam Hussein tried to sell oil in Euros. Colonel Gaddafi tried to set up an African central bank. Don’t be surprised if the US suddenly becomes very concerned about the human rights situation in Saudi Arabia…