The Saudis moving away from the US dollar seems like a very big deal to me. Every move DC makes seems intended to reduce the future worth of the dollar. They had the biggest money-making machine in the world going and they are determined to dismantle it. The killer was when they started to consider the dollar their own personal property and steal multibillions from whomever displeased them. Who would entrust their money to such a system?
They say they are making their Risk move to take over the world. If so it is destined to fail. The world is too big. It may seem weird, but this is what happens when the military takes over. Look at the Axis powers on a globe. How could such little countries hope to conquer all of Europe and Asia? But that's what they tried to do.
Either that or the US has written off Asia and are concentrating on subjugating Europe. That would be a realistic plan with good chances of success. Either way a big contraction of the value of the dollar seems inevitable. It is already well begun as evidenced by price increases in the USA. This will continue for a number of years, accompanied by a diminution of US power.
The third possibility is that there is no strategy, no plan, no goal other than opportunistic money grabs.
Most realistically all three are going on at the same time. It is easy to forget that all this is the doing of a large number of marginally coordinated agents, many of whom conceal their true intentions.
Building an international money exchange isn't that big of a deal. The Rothschild's did it centuries ago. The main obstacle will be defending against incessant cyberattacks from the USA.
The 10%, P.P., is going down.
Explicated thus . . . https://les7eb.substack.com/p/washingtons-war-ix-one-great-game
BTW - Good essay. You deserve more comments.
Why should barrels of oil be measured in US dollars? Measured by gold or the local currency of the biggest oil producing region the Dinar would make more sense. But then as Fort Knox and the Bank of England no longer have gold bullion to underwrite their currency the petro dollar plays a key part in weaponising the dollar as a carrot in some countries and a stick in terms of embargoes in other countries.
Interestingly both Russia and China respectively hold enough gold bullion to underwrite their currencies. With the U.S. unable to even pay China the interest on its debts it would seem war is inevitable. Firstly wipe off the debt and secondly put their biggest ‘cash cow’ the American defence sector into overdrive.