Because oil is traded in dollars and is so essential to the global economy, economies have a strong incentive to invest their savings in dollar-denominated assets. Businesses want to save their money in the currency that they need to trade in. Central banks need to build dollar reserves to function as lenders of last resort. Saudi Arabia agreed to sell its oil in dollars and invest its profits in dollar-denominated assets in exchange for American security guarantees. The rest of the Gulf Cooperation Council ...

RT Nick Szabo (@NickSzabo4)The current oil disruption is just a little blip in history. China has large strategic reserves and isn't going to let anything so temporary bother them. It's not like they have an electorate that will get mad about gas prices and vote them out of power.The previous Middle East situation was unsatisfactory for China. The GCC states are essentially proxies of China's superpower rival, the U.S., and in any major escalation between China and the U.S. they would have at U.S. behest cu ...

RT Special Situations 🌐 Research Newsletter (Jay) (@SpecialSitsNews)The reason why Iran is letting Japan use the Strait of Hormuz is because it has agreed to pay for the oil in yuan, diminishing the strength of the petrodollar and the US as a reserve currency.Iran is negotiating the same deal with 8 other countries...$USO $UCO $BNO $XLE https://t.co/WMz1GyMaeG ...

RT Nick Szabo (@NickSzabo4)@DrLinus_Crypto @zakamoto_zk @BTCJFC @saifedean @ianbremmer True. Fracking made the petrodollar effect overrated. ...

RT Nick Szabo (@NickSzabo4)The longer the GCC waits to make peace with Iran, the more likely this outcome. The earlier they sign the better the terms.The why is quite simple. Hundreds of thousands of square miles of Afghanistan-like terrain dotted with tunnels and caves, which can be filled with missiles and drones made from a practically infinite supply line of Chinese parts.China would love such an extended proxy war because (a) the U.S. will have to divert even more resources away from East and Southeast ...

🇮🇷NEW: IRAN DEMANDS YUAN-DENOMINATED OIL TRADES AS PRICE FOR HORMUZ PASSAGEIran is actively negotiating with 8 countries to allow passage through the Strait of Hormuz, with a key condition that oil be traded in Chinese yuan rather than U.S. dollars.The move represents a direct challenge to decades of petrodollar dominance at one of the world's most critical energy chokepoints. ...

Gold already repriced 2 x higher, probably due to China anticipating that the fanatical Zionists, who started running the U.S. at the start of gold's run, would pull off some idiotic stunt like they just have.Erik Cooney (@elovcooney):@NickSzabo4 @BobgonzaleBob Increasing amount of oil trade to be settled in yuan with China indirectly controlling the strait --> acceleration of the demise of petrodollar / usd reserve currency? If so, gold should be repricing 2x higher, no? ...

If Iran wins, it's the end of five eras.1991-2026: the unipolar era1974-2026: the petrodollar era1945-2026: the postwar era1776-2026: the union era1492-2026: the Western eraSpecifically, the end of the petrodollar (1974) would also be the end of the unipolar moment (1991) and the postwar order (1945). It would mark the moment when Eurasian powers were once again dominant over Western powers (1492). Finally, a rapid crash in the dollar's purchasing power coupled with military defeat could well break apart th ...

RT Nick Szabo (@NickSzabo4)Gold is at $5,100 and oil at $90. In gold terms, the stock market has fallen by more than half since rumors of the Iran war planning started making the rounds on Wall Street. Iran's ability to interdict shipping at Hormuz, something investors had naively believed the U.S. Navy could prevent -- they hadn't kept up with advances in the art of war -- has driven oil up 50% since the war started.Since the 1971 end of Bretton Woods, the dollar has often been called "the petrodollar" bec ...

RT Nick Szabo (@NickSzabo4)Gold is at $5,100 and oil at $90. In gold terms, the stock market has fallen by more than half since rumors of the Iran war planning started making the rounds on Wall Street. Iran's ability to interdict shipping at Hormuz, something investors had naively believed the U.S. Navy could prevent -- they hadn't kept up with advances in the art of war -- has driven oil up 50% since the war started.Since the 1971 end of Bretton Woods, the dollar has often been called "the petrodollar" bec ...