From the thread below, it obvious Crowbot has no understanding about 

PETRODOLLARS

you see-- Old Guy is pretty smart .. he doesn't pull shit out of his ass

when it comes to economics, Old Guy was  once our Finance minister for our now defunct aquatic leftist activist organization 

"Fish and Animal Liberation Movement" ( FALM) ,

but I digress...(before your time, Crowbot)

Old Guy resigned that position because was too honest and too smart to be a Lib.

no matter how much organized criminal politicsl racketeering paid. (DNC)

So today, let me and old Guy school ya Crowbot 

You see, the Dollar is the "worlds reserve currency" because

by agreement with the Saudis

you can't buy a gallon of oil from OPEC 

unless you pay for it with a US Dollar. 

(Even Buddha knows this.. I taught him about "Petro dollar recycling" years ago now, right Buddha?) 

So as a result, every other country in the world values it's currency against the dollar--which means

if our central bank prints money ( inflation ) other currencies will become stronger.. too strong in fact to ship and sell their exports (valued in local currencies).

So they too are forced to print money, which causes inflation, robbing the poor and middle classes of their countries spending power. 

Now imagine the CCP were to possess the power to manipulate the value of the dollar-- because they can buy OPEC oil in Yuan?

That would be a n economic disaster for the US. ( equivalent to a economic-hydrogen bomb)

We have fought recent middle eastern wars of agression and overthrown third-world governments simply to preserve the status of this "greenback-oil" nexus. 

And, whenever the Saudi's have v collected  a big pile of US greenbacks the buy our bonds-- (hence recycling)

if we didint have the "extraordinary privilege " of being the worlds reserve currency, we would need to buy our bonds on the open market, severely limiting American dominance in international markets, trade, and foreign affairs.

you are apparently dumb on this subject as Creepy Joe, Crowbot. 

or no perhaps youre an America-hating communist? 

"Never underestimate Joes ability to fuck things up!" -- Barrack Hussein Obama.

Didnt you Libs get the memo?

Useful Idiots!!!!

Reading comprehension, and education Crowbot.

you obviously lack both. 

The US has the "extraordinary privilege" ( Charles DeGaule once remarked) of being the world reserve currency.

we are at the top of the heap, the other world currencies don't buy oil -- they must convert their currency to DOLLARs to buy OPEC oil. 

Since the Federal Reserve can print money (qualitative easing) they can affect global inflation directly, devaluing the dollar AND every other country's currency-- because those countries must also devalue their currency or their exports are too expensive for the worlds biggest consumer market-- the US. 

And because of the US-Saudi OiL Cartel, these other countries must hold large amounts of DOLLARS in "reserve" to stabilize their oil costs. Energy cost also directly affects inflation. 

Now the BRICs nations also produce oil, snd sell it in other currencies than the US dollar. Their price point (profitability) was around $100 a barrel, last time I looked. Thanks to Creepy Joes oil starvation policies it's around $130 a barrel currently, and rising.

We import Russian oil. Europe depends on it. it's as if Putin told the West: "You want inflation? Here you go! Great for my private oil production ( Lukoil) and whatcha gonna do about it, Brandon?"

A reasonable bluff.. Global poker game. (The other guy thinks he's playing "spades!) 

IF the Saudis were to sell some of their oil in Chinese Yuan the nations of the would start hoarding Yuan, dumping dollars. That would cause inflation and shift that "extraordinary privilege" from the US to China. 

Realize ( as Putin clearly does) that NATO is simply the military action arm of global capitalism, as presently led by the US central bank. If China gains that power, it can use both ECONOMIC and Military coersion to control access to markets snd resources, while US / NATO strength and dominance in the world would wane, to say the least.

The Saudis are a bunch of spoiled camel jockeys that we ( using petrodollars) made wealthy beyond their wildest dreams. They are surrounded by Arabs who weren't so fortunate, and so they have depended  on this US alliance to protect their grid-square. Until now. They would signal a break from their need for US military security if they joined a pact with Russia and China. If we were to respond militarily it could be the beginning of Armageddon-- read about it in the Old Testament Book of Daniel.

But how can I expect a fool who apparently doesn't understand the fundamentals of global economics to appreciate biblical prophesy? Theology aside, The Saudis have postured breaking with OPEC before, maybe their bluffing this time too. 

But since demented Brandon thinks the "Queen of Spades" is a TRUMP CARD ( pun intended) in this game of global high stakes POKER ., I'd say the Saudis ( holdin a pair of 2's and 4's ) know it too. They're scared, and may be trying to get ahead of the curve, and hedge their bets, trying to be on the winning  side of this "Great Reset" idea the Western Oligarchs have foolishly enacted, and are rapidly losing control of ..,

Got a bomb shelter picked out yet? 

Useful idiot! 

"we are at the top of the heap, the other world currencies don't buy oil -- they must convert their currency to DOLLARs to buy OPEC oil."

Except that is obviously wrong. This subject was raised because Saudis were selling oil to the PRC to be paid for in yuan. Remember?

You're still not understanding.

take a course in economics. 

The Saudis are threatening to violate their agreevent with the US. (Get it?) 

That jeopardizes US national and economic security in a BIG way. (Get it??!) 

Why am I writing this to a person who is basically, ignorant of the facts?

Im done waiting my time here trying to educate you Crowbot. 

another reason you're a 

useful idiot

So- the Saudis, a sovereign nation can't sell their oil directly to the PRC in exchange for yuan?

It's a win-win for both parties.

What damage does this do to America?

 

WATCH: Saudi Arabia is reportedly in talks with Beijing to accept yuan instead of dollars for some of its oil sales in China, according to Dow Jones. Bloomberg Opinion columnist Javier Blas has more. His opinions are his own.Source: Bloomberg

By George Lei, Maria Elena Vizcaino, and Ye Xie

 

March 15, 2022, 10:01 AM EDTUpdated onMarch 15, 2022, 3:09 PM EDT

 

The Chinese yuan reversed earlier declines following a report by Dow Jones that Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in the currency.

The talks with China over yuan-priced oil contracts have been off and on for six years but have accelerated this year as the Saudis have grown increasingly unhappy with decades-old U.S. security commitments to defend the kingdom, Dow Jones reported, citing people familiar with the matter. The offshore yuan erased a loss of as much as 0.3%, and traded slightly stronger at 6.39 per dollar. 

 

 

The outbreak of the Ukraine war and the swath of sanctions imposed on Russia as a result has brought to the fore questions about alternatives to U.S. currency-based markets, and the yuan is one in particular focus in light of China’s relationship with Russia. Saudi Arabia’s relationship with the U.S., meanwhile, has been buffeted by various issues ranging from Yemen’s civil war to potential negotiations around Iran’s nuclear program.

“Many sovereigns, including U.S.-aligned countries, have realized owning massive amounts of dollars lead to an illusion of stability,” said Victor Xing, principal at Kekselias Inc. “In any moment, a political decision could lead to that dollar reserve being frozen or seized. The Saudis could be anticipating this shift, and pricing crude in yuan would increase their trade surplus in yuan and reduce dollar holdings in an organic way.”

The bump for the yuan comes at a time when Chinese assets more broadly have been under some strain. The renminbi has come under tremendous selling pressure over the past couple days amid a rout in the country’s stocks. The offshore yuan fell more than 1.1% against the dollar in the three days through March 14, its worst such drop in a year. The offshore yuan’s 200-day moving average at 6.4116 per dollar remains key near-term support for the currency.

There was no indication from the Dow Jones report on the likelihood of Saudi Arabia making such a switch nor how much of its sales might be denominated in yuan if it were to change. It does, however, signal that the conversation around alternatives to the greenback is very much a live debate.

“Perhaps it’s more of a sentiment boost to the potential for wider use of the renminbi,” said Sacha Tihanyi, head of emerging-market strategy at TD Securities in Toronto. “I see ‘some’ of its oil, so I’m not sure how relevant it is.” 

— With assistance by Benjamin Purvis

(Adds comment in fourth paragraph

You don't understand what you're reading 

useful idiot!!!