Ever since United States President Joe Biden took office in January 2021, he’s been trying to bring Saudi Arabia back to the political West’s flock. The attempts to do so have escalated significantly after Russia launched its counteroffensive against NATO’s encroachment. Biden made numerous futile attempts to contact Saudi leadership, culminating with a failed visit on July 15.
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Saudi Determined to Crash Oil Prices Until US Shale Breathes Its Last
This is a confirmation of Ben Fulford’s assertion months ago that the Saudi’s deliberate flooding of cheap oil in the world market was meant to destroy the US economy more than that of Russia.
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What Game is The House of Saud Playing?
The House of Saud now finds itself in times of extreme trouble. Their risky oil price war may eventually backfire. The succession of King Abdullah may turn into a bloodbath. And the American protector may be musing a change of heart.
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Bankruptcies on Energy Companies Have Begun
As expected, Saudi Arabia’s deliberate increases in oil production has not crippled Russia but Western energy companies only.
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How The Petrodollar Quietly Died
Submitted by Tyler Durden on 11/03/2014 23:42
Two years ago, in hushed tones at first, then ever louder, the financial world began discussing that which shall never be discussed in polite company – the end of the system that according to many has framed and facilitated the US Dollar’s reserve currency status: the Petrodollar, or the world in which oil export countries would recycle the dollars they received in exchange for their oil exports, by purchasing more USD-denominated assets, boosting the financial strength of the reserve currency, leading to even higher asset prices and even more USD-denominated purchases, and so forth, in a virtuous (especially if one held US-denominated assets and printed US currency) loop.
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