The Petro Dollar Will Be Destroyed Tomorrow June 9th 2024
Summary
➡ Saudi Arabia might soon sell oil in a currency other than the dollar, which could impact the oil market and the dollar’s value against other currencies. This change could happen within the next month, but it’s unlikely that an official statement will be made immediately. This shift is part of a larger trend of countries moving away from the dollar, which could have significant implications for the global economy.
➡ The U.S. has been negotiating with Saudi Arabia, one of the world’s top oil producers, to continue selling its oil in dollars, which helps maintain the dollar’s status as the global reserve currency. However, there are concerns that Saudi Arabia may start pricing its oil in other currencies, particularly the Chinese yuan. This could lead to a decrease in the need for the dollar, causing market panic and potential hyperinflation. Meanwhile, individuals are being encouraged to prepare for these changes by managing their finances wisely, paying off debt, and improving their credit scores.
Transcript
This comes as a post that’s gotten a lot of traction. We’ve seen recently some TikTok videos that are gaining a lot of traction about this and let me first actually answer why this would be a big deal. First off, it would be a massive deal because when Saudi Arabia fully walks away from the dollar oil trade, the dollar will lose value rapidly because so many countries will first be looking to see how the Biden administration reacts, right? In the past, when a company, a country leaves the dollar standard or at least threatens to leave the dollar standard like Iraq, Iran.
I’m sorry, not Iran, but oh actually Iran has, but Libya and other countries, there have all of a sudden been bombs flying, right? When we lose that reserve currency and we don’t do anything about it, other countries are going to follow in lockstep quite fast. So one of these posts on Binance said Mohammed bin Solomon has chosen not to renew a security agreement with the US set to expire on June 9th, tomorrow, 2024. I’m going to get into why that date is very important. This means Saudi Arabia can now sell oil and other goods in currencies like the RMB, euros, yen, Yuan, and more instead of just the US dollar.
It’s a big change because it challenges the dominance of the petrodollar system, which has been in place since the US stopped trying its currency and or tying its currency in gold in 1972. This decision is expected to speed up the process of moving away from the US dollar. Now, right now this is just hyperbole. It’s actually, it’s not found in any truth except for what I’m about to share with you. But let me go on and show you a couple of more instances. This post comes out of X and it’s posted by Marty party.
Big channel though. On June 9th, 2024, Saudi Arabia is expected to announce that it will cease all oil sales. This is pretty bold. All oil sales in US dollars, marking the end of the 50 year petrodollar pact signed on June 6th, 1974, which expires June 9th, 2024. This decision is a significant shift in global oil trade dynamics and could have wide range, ranging implications for the US dollars role as the dominant global reserve currency, which I completely agree. So now let’s move to a story that was actually written back in 1974.
And this is out of the New York Times. I’m just going to barely go over it. Then we’re going to talk about its implications and just curious, because I do not believe this is going to fully go down like everyone’s expecting tomorrow. But I do believe tomorrow is a very, very important time point. And the next few weeks are going to determine how important it is. And I’ll explain that a second. Again, this story is out of the New York Times in 1974. It’s entitled Milestone Pact is signed by the US and Saudi Arabia.
Now, just to take you back into 1974, where were we? Nixon had taken us off the gold standard a couple of years prior. We were having all kinds of issues with not only our currency, but other are in our economy, but other economies as well. Countries like France were leading the charge of screaming that the US doesn’t have their gold, and we need to repatriate it. So France was leading the charge in trying to get other countries to pull its gold out of our stash, right? The gold vault that we were storing in our country’s gold, but other countries around the world, all right? Ironically, since then in 2015, 2016, Germany sent a delegation here because they asked for their gold back.
And the Federal Reserve said it would take up to seven years for them to get their gold back, right? Right now, we see certain African countries trying to get their gold back. This cycle is repeating almost exactly. And if you remember, I know I’m digressing, but please hear me. I tell you, there are cycles, economic cycles. They’re very visible, very easy to tell between seven and 10 years apart. But big cycles, big economic cycles run between 15 and 100 years. We have a 50 year and a 100 year cycle converging a 100 year bubble, based off of monetary expansion and contraction, the Great Depression, right? Also, we are seeing right now something that’s happening on a 50 year scale, which is this Saudi Arabia pact, and it is a very, very big deal.
So again, let’s now you’ve got a little bit of an image of what was happening in 1974. And remember, massive inflation hit our nation in the later 70s. Okay, so this started that movement because so many countries decided to buy oil in dollars because Saudi Arabia said, we’re going to start selling our oil in dollars, which created a demand for dollars. And over the next couple of years from 1974, 75, 76, we saw money flowing to our nation. And it created a massive, massive bubble in inflation and a subsequent pop. All right.
Okay, it says, this article is entitled, it was on June 8 of 1974, the United States and Saudi Arabia today signed a wide ranging military and economic agreement that both said heralded an era of increasingly close cooperation. American officials commenting on the first such arrangement between the United States and an Arab country said they have hoped a new accord would provide Saudi Arabia with initiatives. Sorry, I got thrown off to increase her oil production and would serve as a model for economic cooperation between Washington and other Arab nations. Secretary of State Kissinger and Prince Ferdinand, Abdel Aziz, second deputy premier of Saudi Arabia, and half brother to King Faisal signed the six page agreement.
Let me break off there and tell you a little bit more about that. Now that agreement was so that Saudi Arabia would only allow its oil to be sold for US dollars, thus creating an incredible, incredible, and insatiable, insatiable, or I don’t even know the right word, demand for US dollars. Okay, from that point till just recently, and I’m going to explain that a second because I broke this, I really started talking about this story almost two years to the month ago, we were able to export inflation on a mass scale.
Now, Bretton Woods had already been agreed upon and signed amongst all these other countries around the world, but the Saudi Arabia story was very, very important. Why? Oil runs the world, especially back then, right? We didn’t have solar like we did now, wind power and all that kind of stuff. It was oil, oil, oil. Saudi Arabia was just coming into their own with the help of the United States to drill oil and they were finding vast quantities of it, which ironically they’re actually starting to run out of. They don’t want you knowing that, but that is the truth.
And so what happened was, since they had so much oil and it was cheap and plentiful, to be able to say, you can buy it, but you got to buy US dollars was an amazing boom for the United States. Now, fast forward to two years ago, broke a story that Saudi Arabia had walked away from an agreement to sell oil and dollars and they had signed a 50 plus and the plus is very important. Your agreement with China to be able to provide oil to China. Now, since then, they never really came out and I’ll give you an example right here.
A story on a Bloomberg, uh, dated November 20th of 2023. So just recently, right about five or eight, seven, eight months ago, it says still Saudi officials have consistently played down the idea that the kingdom would start to sell off to sell its oil to China or other major importers in currencies other than the dollar. It says oil and closely related products such as diesel, chemicals and plastics account for around 90% of the kingdom, Saudi Arabia’s exports. So they signed an agreement to provide oil to China over two years ago, actually a little less than two years ago.
It was what September of 2022, I believe. But it didn’t come out that they were going to start accepting straight other currencies. Now they have come out with news articles saying that they’re suggesting, they’re, they’re throwing around the idea of doing it. But what they did was they fought this really fine line of we’re going to do it or we’re actually doing it, right? They’re saying, Hey, we’re looking into this. And what they were doing was trying to push the US to see if the US would fight back. Nothing happened. Now tomorrow is the expiration like today is actually the expiration, right? Tomorrow is a new day, a new dawn for Saudi Arabia, China, so many other countries that are vying for their oil, but they’re vying for that in either their own currency or a currency that Saudi Arabia chooses.
Now we know that Saudi Arabia has a massive pull in the UAE. And I need you to understand how important this is. Tomorrow, do I think that anything is going to collapse? No. Do I think that the Saudi government is going to come out with an official statement? Tomorrow, I find it highly unlikely, but this is what I believe is going to happen. In the next four weeks, I believe that the Saudi government will strike a deal inside somewhere in the world to sell oil officially in a currency other than the dollar.
And I believe that that will have shockwaves in the oil market priced in dollars and to the DXY, the dollar versus other currencies. Now I have a feeling there’s not a lot of people online talking about this, but then again, there weren’t a lot of people talking about bricks when I started this channel. So we’ll let them all watch this and they can just start running like crazy. But let me throw out a couple other little ideas or just headlines. Let’s grasp a couple headlines. In March 15th of 2022, and just curious, let me ask you this type.
It’s a big deal. If you believe that when Saudi Arabia and it is when stop selling oil and dollars and they’ll accept other currencies, that it will crush our dollar value type. It’s a big deal. If you don’t think it’s a big deal, say, no, I don’t think it’s a big deal. Just curious what you think. And it’s important to get what you think. Papa Joe, thank you so much for the super chat. Yes, we should hook up soon if you want to do an interview. All right. Wall Street Journal comes out March 15th of 2022 with the title, Saudi Arabia considers accepting yuan instead of dollars.
Again, I want to emphasize, this was them throwing some shots right across the bow of the Biden White House. And we already know that the Biden White House is complete, complete simps that are honestly criminals and care more about eating ice cream and lying to you than actually doing something for a nation. All right. That’s why when you see these kinds of things, you have to understand how important they are. So the Saudis, they’ve come out, Wall Street Journal is talking about reporting on how they are considering accepting yuan. Considering that is exactly what they’ve been doing.
They’ve been sticking with the agreement. But what they did is in 2022, around the fall of 2022, they signed an agreement with China to provide oil to their country. And they came out a couple months later when our mainstream press did a piss poor job of reporting on this so you could understand what’s coming in your future. And that’s not good stuff. They came out and said, we want to make sure you understand that this isn’t just a 50 year agreement. It is a 50 year and beyond agreement. So as of the last couple years, the Saudis have been selling oil to China for dollars.
Now you’ve seen China, and please understand it in type of number three, if this is helping understand if I’m breaking this down to a digestible amount for you to understand. What’s happened is China still has a need for dollars, right? Saudi Arabia is sticking within their agreement. So they’ve been going to the dollar window or they have been finding dollars somehow buying treasuries, whatever. But at the same time, over the last couple of years, China have been net sellers of US treasuries, bonds, dollars, whatever. They have been slowly liquidating like Warren Buffett has been liquidating stocks, right? This is actually happening.
You have Jeff Bezos selling stocks, Warren Buffett selling stocks, shoot, even Jamie Dimon selling his own bank stocks for the first time ever. Why? Because they understand something that you and I both understand, and that the entire world’s paradigm has been shifted. Now think about this, this story comes out about five months later, out of September six. Oh, sorry, it was like almost a year and three months later, out of the Stimson Center, Saudis flirt with de-dollarization to get Washington’s attention. Well, let me ask you this. You think it’s pretty hard to get Biden’s attention these days? I mean, I gotta be honest with you.
The only thing that’s got Biden’s attention is a young lady and one that’s underage. That’s the truth. And so I don’t think Biden really cares. It’s not like the mass immigration or criminals running over the border and horrible things happening. That doesn’t catch his attention. cocaine in the White House? Well, crap, he probably knew about that. Point being is that these important things don’t grab his attention, just like Saudi Arabia. They’re like, we’re going to do it. We’re going to do it. He’s like, huh? And then his, he gets drool, drool wiped up off his face.
But remember, our last president wasn’t fit to hold office. But my thing is, if you think about this, we are in a moment where people have no idea Saudi Arabia has been keeping their deal in dollars. Yet for the last couple of years, we’ve been watching the world de-dollarize. They’ve been doing trade outside of the dollar, China and India, Russia and China, all these different BRICS agreements, they’ve been doing stuff outside of dollar, which means they’ve been slowly selling dollars. So now starting tomorrow, we are officially off the petrodollar. Here’s another story.
This is out of geopolitical economy report. Now I believe this to be very slanted. It’s titled U.S. pressures. Now, and again, I’m not going to go into all these stories for you. You want to know why? Why would I only want to go over the headlines? Because the public at large reads headlines. There are a bunch of fools running around our world. They’re called liberals, they’re leftists, they’re complete morons. And I only say that because all they do is read headlines, or since they’re so foolish, they believe whatever they’re told, which ironically is a headline, which mostly is clickbait.
But this one’s interesting. August 10th of 2023, the U.S. pressures Saudi Arabia to sell oil and dollars, not Chinese Yuan amid Israel negotiations. So let’s read a little bit of this story. As part of negotiation for Saudi Arabia to recognize Israel as the United States is demanding that Rehada keep pricing its oil and dollars. Keep pricing its oil. See, it was still pricing its oil and dollars. So for the last couple of years, anybody on YouTube that sit there and said, they’re walking away and stuff. And I said, because two years ago, I talked about they’re walking away from an agreement, but they’re still under the agreement.
They signed one for the future with China. Now once, and you can sign a contract that starts when your current contract is over, but Saudi Arabia did something very, very interesting. What Saudi Arabia did is they said, you know what, China, we’re going to go to economic bed together. We’re going to lie together for the next 50 years and beyond. So what we’re going to do is we’re going to sign an agreement right now, a couple of years ago, September, I believe, of 2022. We’re going to provide you oil. That’s what the agreement said.
But as part of our agreement, it’s in US dollars until, and this is the fine print, we no longer need to sell it to you in dollars. Now we’ve already seen a de-dollarization around the world that is unbelievable. Type 11 if you agree with that. Type 11 if you’re like, I am shocked that even the mainstream media won’t come out and tell you the truth of what’s going on with the de-dollarization of the world. When Jerome Powell goes before Congress says, I believe there’s a day where the US dollars not going to be the only reserve currency and Congress doesn’t doesn’t just drop their jaws, but those people are so paid off retarded shows.
I mean, and I use that in the proper term because they are thieves and pride comes before a fall. So you just become dumber, dumber, dumber. Yeah, I used it. So they were still selling oil and dollars. As of tonight, midnight, it’s a big deal. It ends. Now, this is what I think is going to happen. There’s not going to be an announcement tomorrow that could be considered an act of war in the past. I did not believe today because our president is too busy, you know, changing diapers and drooling to really do anything.
And he’s been paid for, but China. But I do believe in the what do you mean, treasuries? We’re not buying. As a matter of fact, I believe there’s a day coming and I actually believe it’s going to be in the next year that both China and Russia come together along with a handful of other countries. I believe it’s going to be most of the G7 and they’re going to have a coordinated day of selling the dollar. It will crush our capital markets in seconds. We will lose to say that we will have a liquidity event will be just it’s unimaginable.
But when you put these things together, you start to see exactly what’s going on. Now, again, it says here in the U.S. Now, again, this is a year ago. The United States is negotiating behind the scenes with Saudi Arabia pressuring the country to keep selling its oil and dollars. They were still selling them. Washington is concerned that Rehada may price its crude in other currencies, particularly Chinese remember. Now, I can tell you right now in the next 90 days, this will be happening. Type 12, if you agree. Saudi Arabia is one of the world’s top three oil producers since the 1970s.
It all ends tonight. 50 year agreement ends at midnight tonight. Rehada has agreed to sell its crude oil in dollars, helping maintain the greenbacks hegemonic status as the global reserve currency. I did a video about a month and a half ago that the U.S. was working with Saudi Arabia to to give them more weapons, more money. That’s called a bribe. The sad thing is, I think it’s too little too late because China has already beat us to the gate. It says in return, you know, this is talking about the U.S. trying to work with them while they’re dealing with Israel.
In return, Rehada wants Washington to pledge it will always protect it as well as keep in keep in developing a nuclear program. So what happened was Saudi Arabia was trying to get the last little bit of money out of the United States. But I think, again, it came too little too late because two other countries are draining our tax dollars as fast as you can say scrumdilios. Put what movie that’s from down below. But all joking aside, we are in a serious time. And here’s the cool thing. This isn’t something to be afraid of.
You see, unlike the mainstream media, I’m going to show you exactly what’s going on, try and break it down into bite-sized bits, and then we go figure out how to crush it. In the next year, year and a half, I do believe, and if you want to, go ahead and bet against me, that markets are going to shrink rapidly. The need for a dollar will go away. The Treasury and the Federal Reserve both will become the buyers of last resort. It will cause a mini hyperinflation and market panic. If you are not ready for this, I don’t know what to tell you.
That’s why I’ve been preparing people for this real estate cycle because BlackRock’s not going to have any money. All these big hedge funds, they’re all going to go broke. I know it sounds crazy. And there is going to be a point where the government does take some homes, but there are going to be a lot of homes for sale. Not ready for it, I don’t know what to tell you. I’ve been preparing people for two years, and I have amazing students that have gone out so far, and they’re already crushing it.
Paying off debt, getting their credit set up, their debt-to-income ratios, all of their ratios so perfect that when they walk into a bank, they’re going to be told how much do you want and what bank account do you want it in. If you want to learn how to become a prime lender, I’m going to put a link down, 83% off the pre-filming discount of Mortgage Master, and then if you want to go bigger and you want to go buy 100 places, I’m going to give you an offer for Mortgage Master 2.0. Both pre-filming, it’s up to you if you want it, if not, no worries.
But if you want to try it out, I’ll tell you what, if you don’t think it’s going to change your life after 14 days, you watch less than 50% of it, give me your money back. End of story. Hope you got something on this. Tomorrow is going to be a big day, even though the news is not going to tell you it’s a big day. Don’t worry, the Economic Ninja will keep reporting on it. Hope you guys have a great night. The Economic Ninja is out. [tr:trw].
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