.
ER Editor: The 50-year arrangement for the Saudis to sell oil using the US dollar ended yesterday, apparently. We’re looking further for confirmation. Countries around the world will not be required to hold onto US dollars to buy oil, therefore; Saudi Arabia can accept payment in different currencies. Saudi Arabia joined the BRICS organization at the start of this year.
Readers may be interested in this New York Times piece from June 9, 1974 —
‘MILESTONE’ PACT IS SIGNED BY U.S. AND SAUDI ARABIA
Check out this 2-minute intel update from Alex Collier —
De-dollarization begins with Saudi Arabia not renewing the 50-year Petrodollar Pact, which is due to expire on June 9, 2024.
June 9th the Agreement between the United States and Saudi Arabia to sell Saudi Oil in USD exclusively ends. Saudi Prince has already notified the U.S.… pic.twitter.com/Hv1HR6K5JO
— Bruce Snyder (@realBruceSnyder) June 4, 2024
#BREAKING — On June 9th, 2024, Saudi Arabia is expected to announce that it will cease all oil sales in US dollars, marking the end of the 50-year Petrodollar Pact signed on June 6, 1974.
If Saudi Arabia becomes more BRICS-centric and stops using the Petrol dollar, expect HUGE… pic.twitter.com/yX4BRKWwux
— MikeMac (@xmikemac) June 6, 2024
This is an interesting post.
The Milestone Pact was signed by SA/US on June 8th 1974.
However I can’t find documentation it would end after 50 years.
Obviously the Petrodollar is toast.
It’s just a matter of time anyways.
Thoughts on this video
— Dr Russell McGregor (@KillAuDeepState) June 3, 2024
— Jack Straw (@JackStr42679640) June 10, 2024
David Kurten, former candidate for London mayor, considers the implications —
The Petrodollar ended on 9th June 2024. We are now in a new era.
A 50-year deal between the USA and Saudi Arabia to sell oil only in dollars is over.
Turbulent times and great geo-political changes lay ahead. pic.twitter.com/CM4lnwU8L0— David Kurten (@davidkurten) June 10, 2024
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