The Duran
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Saudi Arabia continues to move away from petrodollar
The Duran: Episode 1490
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
I read an article US–Saudi Tensions: Implications for the Petrodollar System by Dr. Adil Rasheed, published by IDSA which said “In this context, it is curious to note that in June last year, Russian Foreign Ministry proposed a new BRICS reserve currency, based on a basket of BRICS currencies, BACKED BY GOLD AND OTHER COMMODITIES. Saudi Arabia’s bid to join BRICS, with its petroleum reserves, may give an added boost to this concept.”If the Saudis decide to deal in currencies that are only backed by gold then the price of gold would have to rise 20-25 times in order for… Read more »
This is what the west/WEF’ers are afraid of!!!