Loading ... From Bill Holter: The financial world is bracing for a significant upheaval following Saudi Arabia’s decision not to renew its 50-year petro-dollar deal with the United States, which expired on Sunday, 9 June, 2024.
The lapsed security agreement – signed by the United States and Saudi Arabia on 8 June 1974 – establishes two joint commissions, one on economic co-operation and the other on Saudi Arabia’s military needs, and was said to have heralded an era of increasingly close co-operation between the two countries.
Wasn’t this the primary support for the dollar? What if the Saudis said they wanted gold for their oil? That would shake things up …
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