The Saudis have relied upon the US for military protections for years, but as the US reduces its naval presence in the Persian Gulf, Saudi Arabia will have to find those protections elsewhere.
As the world’s largest oil exporter, Saudi Arabia has learned a few tricks to curry favor from different countries. Their most recent endeavor is accepting the Chinese Yuan as payment for a few hundred million barrels of oil…and that’s not an insignificant amount.
This move isn’t happening because the Saudis are worried about de-dollarization; it’s solely a move to win the Chinese over and establish a new external military guarantee. Still, this remains the only meaningful shift away from the USD, even though it’s from one country, for one commodity, and for one reason.
I’ve said it before, and I’ll say it again…the US Dollar ain’t going nowhere.
Sara Fischer: Inside Fox News’ decision desk ahead of Election Day
This piece is by WWSG exclusive thought leader, Sara Fischer. Fox News’ historic Arizona election call in 2020 wasn’t premature, the network’s longtime decision desk head Arnon Mishkin…
Thought Leader: Sara Fischer
Kemi vs Robert: who would be the best Tory leader?
Ed West on Robert Jenrick It’s a testimony to the sheer unpopularity of Keir Starmer’s government that only three months after voters gave the Conservatives…
Thought Leader: Niall Ferguson
Alex Honnold: The Devil’s Climb
This is the latest episode of Climbing Gold with Alex Honnold. Last summer, Alex and Tommy Caldwell rode bikes from Estes Park, Colorado to SE Alaska…
Thought Leader: Alex Honnold
